News, Rumors and Opinions Sunday PM 1-12-2025
TNT:
Tishwash: Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility
The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.
Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."
TNT:
Tishwash: Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility
The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.
Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."
He stressed that "announcing sessions without holding them due to the absence of MPs has become a recurring phenomenon," holding the parliament presidency "responsible for this delay."
Timur stressed "the need to pressure MPs to attend in order to legislate laws that affect the lives of citizens."
He pointed out that "the disagreements over some laws are because they concern certain segments or components and not others," explaining that "the agenda of today's session included seven non-controversial paragraphs, and it was expected that the session would be held without problems." link
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Tishwash: The Central Bank is working to provide various services to bank card holders.
The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.
The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.
While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.
The Central Bank invites you to submit inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/
Central Bank of Iraq
Media Office
January 12, 2025 link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man We've been spot on talking about the dollar auctions going to cease and sure enough they have. I'm thankful that has happened because I know what I own and I'm looking forward to it just like everybody else.
Frank26 Last week I followed [the parallel black market rate]...On Sunday it was 1310, on Monday it was 1275, on Tuesday it was 1170, Wednesday it was 1160. IMO Sudani is looking for the black market to reach 1,000. When he does, IMO, the game is on. That is the next step ladies and gentlemen. They are watching the illegal black market...the value of the dollar is dropping, thank you CBI for stopping the auctions...We're getting close to the next step.
MARKETS A LOOK AHEAD: ON THE EDGE OF A WORLD DEBT MARKET IMPLOSION.
Greg Mannarino: 1-12-2024
ADDICTED TO SPENDING: How America’s Debt Addiction Is Triggering Collapse
Taylor Kenny: 1-12-2025
The U.S. economy is on a collision course with hyperinflation and a currency reset as reckless government spending spirals out of control. Discover why stagflation and hyperinflation are inevitable, what history teaches us about economic collapse, and how you can safeguard your wealth. Learn why physical assets like gold and silver are your best defense against the coming crisis.
Iraq Economic News and Points to Ponder Sunday Afternoon 1-12-25
Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption
Political | 12/01/2025 Mawazine News – Baghdad The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.
Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.
Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption
Political | 12/01/2025 Mawazine News – Baghdad The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.
Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.
He added that "the parliamentary committees have been directed to intensify their efforts to complete important draft laws, and activate the oversight role in a way that contributes to undermining opportunities for corruption and preserving Iraq's wealth." He also pointed to the need to enhance transparency by hosting officials to discuss challenges and find solutions to problems that hinder the implementation of public policies.
Al-Mandalawi stressed the importance of coordination with the executive authority to accelerate the completion of legislation that directly affects the lives of citizens, and to support the government in implementing its electoral program, while improving communication with citizens to convey their problems and follow up on their solutions effectively. https://www.mawazin.net/Details.aspx?jimare=258469
Currency Smuggling.. The Central Bank Punishes 10 Iraqi Banks Due To Violations Of Foreign Transfers
Today 14:14 Information/Baghdad… Representative Baqir Al-Saadi confirmed today, Sunday, that the
Central Bank of Iraq issued sanctions against ten Iraqi banks due to violations related to the foreign transfer file, which has become a direct threat to the local economy.
Al-Saadi said, in a statement to the “Al-Ma’louma” Agency, that “the file of smuggling hard currency outside Iraq is still a source of great concern, amid multiple question marks about the mechanisms for implementing these operations, especially with the continuing investigations into exchange offices and banks committing serious violations in foreign transfers.”.
He added, "The sanctions issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency outside the country." Al-Saadi pointed out that
“currency smuggling
has serious effects on the local economy, and
causes an increase in financial crises in the country,” pointing out that
“most of the transfers that are made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the establishment of strict measures to stop this ongoing bleeding.”"
The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new determinants and re-evaluating the tools used in financial transactions, with the importance of revealing the results of investigations to public opinion." Ended / 25F
https://almaalomah.me/news/87949/economy/تهريب-العملة-المركزي-يعاقب-10-مصارف-عراقية-بسبب-مخالفات-الحو
Financial Advisor: ASYCUDA System Boosts International Trade, Reduces Corruption At Customs Ports
Economy | 12/01/2025 Mawazine News – Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Salih, stressed today, Sunday, the importance of adopting the "ASYCUDA" system in the Iraqi Customs Administration, pointing to its role in reducing delays at border crossings and enhancing international trade.
Salih explained that the ASYCUDA system, developed by the United Nations Conference on Trade and Development (UNCTAD) since the 1980s, relies on modern digital technology to simplify and accelerate customs operations.
He added that Iraq is implementing the second generation of this system, which relies on cloud technology to provide comprehensive automation of customs operations, including data recording, fee assessment, customs clearance, and records management.
He pointed out that the implementation of the system comes in line with the government program to enhance non-oil revenues to reach 20% of total public revenues, explaining that joint cooperation with the United Nations aims to improve customs control and collection systems and control import and export operations according to the best digital standards.
Saleh revealed that the General Authority of Customs and the Border Ports Authority completed the implementation of the system during the past year, while providing a high-quality digital infrastructure to develop customs work in 2025, stressing that this system contributes to reducing corruption by reducing human interaction and adopting full automation, which increases transparency and supports efficiency.
He explained that ASYCUDA enhances international trade by accelerating the customs clearance process and reducing administrative barriers, in addition to providing a comprehensive database that supports economic and trade policy-making, pointing to its role in improving border security by tracking and inspecting shipments more accurately to combat smuggling and illegal activities.
Saleh concluded by saying that ASYCUDA represents a vital tool for achieving a balance between facilitating trade and protecting borders, stressing that Iraq joins a group of Arab countries, such as Jordan, the Emirates, Saudi Arabia, and Egypt, that implement this system in customs ports in an integrated manner. https://www.mawazin.net/Details.aspx?jimare=258464
Iraq Surpasses Saudi Arabia In Oil Exports To America
Energy Economy News – Baghdad The US Energy Information Administration announced today, Sunday, that Iraq has surpassed Saudi Arabia for the second week in a row in oil exports to the United States.
The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 6.016 million barrels per day, an increase of 251 thousand barrels per day from the previous week, which amounted to 5.765 million barrels per day."
She added that "Iraq's oil exports to America reached 180 thousand barrels per day last week, down by 32 thousand barrels per day from the previous week, which reached 212 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached an average of 69 thousand barrels per day."
The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.422 million barrels per day, followed by Mexico at an average of 392 thousand barrels per day, then Venezuela at 253 thousand barrels per day, and Brazil at 233 thousand barrels per day."
According to the table, "the amount of US imports of crude oil from Nigeria amounted to an average of 192 thousand barrels per day, from Ecuador 147 thousand barrels per day, from Colombia 72 thousand barrels per day, and from Libya 56 thousand barrels per day." 126 views Added 01/12/2025 https://economy-news.net/content.php?id=51836
125 Billion Dinars Revenues Of The Iraqi Islamic Bank
Banks Iraqi Islamic Bank announced its financial results for 2024, which showed positive performance in a number of key indicators, as assets rose to 2.65 trillion dinars compared to 2.2 trillion dinars in 2023, representing a growth of 20 percent.
Credit also witnessed a significant jump, reaching 934.9 billion dinars, compared to 637.5 billion dinars in the previous year, an increase of 46.6 percent.
In contrast, deposits declined to 751.2 billion dinars compared to 1.19 trillion dinars in 2023, a decrease of 37 percent, while revenues increased to record 175 billion dinars compared to 132.9 billion dinars, representing a growth of 31.6 percent, which was reflected in profits that reached 86.5 billion dinars after they were 76.6 billion dinars in 2023, an increase of 13 percent. 287 views Added 2025/01/12 - 10:39 AM https://economy-news.net/content.php?id=51841
Chinese Ambassador: $50 Billion Is The Volume Of Trade With Iraq And Dealing In Yuan Is In Its Initial Stages
Economy | 11:56 - 12/01/2025 Mawazine News – Baghdad Chinese Ambassador Cui Wei confirmed today, Sunday, that the volume of trade cooperation with Iraq during 11 months reached 50 billion dollars, while he indicated that dealing in the yuan between the two countries is in its initial stages. https://www.mawazin.net/Details.aspx?jimare=258455
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-12-25
Good Afternoon Dinar Recaps,
KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT
Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.
Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.
Good Afternoon Dinar Recaps,
KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT
Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.
Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.
Speaking on Friday, Mbadi outlined the government’s plans to create a regulatory framework for cryptocurrencies, an industry that has operated in the shadows despite an official ban.
“Kenya’s financial sector is a beacon of innovation and growth in Africa,” Mbadi stated. “The emergence and growth of Virtual Assets and Virtual Asset Service Providers have given rise to innovations in the local and international financial system with dynamic opportunities and challenges.”
While recognizing the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and fraud, Mbadi emphasized that a legal framework would allow Kenya see the benefits of the crypto market while mitigating its dangers.
“The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks,” he added.
IMF Urges Kenya to Establish Clear Crypto Regulations
The proposed policy seeks to establish a fair and competitive crypto market and improve financial literacy across the country.
This initiative aligns with recent calls from the International Monetary Fund (IMF), which urged Kenya to develop regulations to address consumer protection and financial crime concerns related to cryptocurrencies.
In a technical assistance report released on January 8, the IMF outlined shortcomings in Kenya’s current regulatory approach to crypto assets.
Outdated frameworks have struggled to address the rise in crypto-related scams and illicit activities, leaving consumers vulnerable to financial risks.
With Kenya joining the growing list of African nations embracing cryptocurrency, this regulatory shift could position the country as a regional hub for blockchain innovation while addressing systemic risks.
@ Newshounds News™
Source: CryptoNews
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SINGAPORE LABELS POLYMARKET ILLEGAL GAMBLING, RESTRICTS SITE ACCESS
▪️Singapore blocks Polymarket, citing unlicensed gambling.
▪️Polymarket faces a ban in France and CFTC subpoena in the US.
Singapore has officially blocked Polymarket, a crypto-based betting platform, citing its unlicensed status in the country.
Warning Notice
Visitors to the site are greeted with a warning from the Gambling Regulatory Authority, labelling it an illegal gambling operation.
The notice warns that gambling on unlicensed platforms may result in fines, jail time, or both.
The block falls under the Gambling Control Act 2022, which mandates that all gambling operators targeting Singaporean residents obtain proper licensing.
Singapore currently restricts online gambling to state-approved operators like Singapore Pools, the country’s sole licensed provider.
Polymarket, known for hosting high-stakes prediction markets on events like the US presidential election, is also encountering resistance in Europe.
In France, the country’s gambling regulator, ANJ, blocked access to the platform in November.
According to The Big Whale, a French crypto news outlet, the ANJ considers Polymarket a form of illegal betting.
A source close to the regulator claimed, “This is not legal in France,” as officials examine its compliance with local gambling laws.
Meanwhile, in the United States, the platform is under fire from the CFTC, which has proposed stricter rules on prediction markets.
On Thursday it was revealed that Coinbase notified customers it received a subpoena from the CFTC seeking account information tied to Polymarket.
@ Newshounds News™
Source: DL News
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'LIVE FREE OR DIE': NEW HAMPSHIRE THE LATEST STATE TO CONSIDER BITCOIN RESERVE BILL
New Hampshire Rep. Keith Ammon proposed a bill to enable a Bitcoin treasury reserve, which he framed as a matter of state sovereignty.
New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.
Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt.
“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”
Newshounds News™
Read more: Decrypt
~~~~~~~~~
RIPPLE AND MOONPAY PLEDGE $50,000 IN RLUSD TO LAFD FOUNDATION FOR CALIFORNIA WILDFIRE RELIEF
▪️Wildfires in California have reportedly destroyed about 12,000 structures leading to over 11 fatalities, with containment still a challenge.
▪️Ripple and MoonPay donated $50,000 worth of RLUSD to the Los Angeles Fire Department Foundation, supporting first responders amid the crisis.
@ Newshounds News™
Read more: Crypto News Flash
~~~~~~~~~
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Thank you Dinar Recaps
Some “Iraq News” Posted by Clare at KTFA 1-12-2025
KTFA:
Clare: Al-Sudani to pay official visit to UK tomorrow, Monday
An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.
The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."
He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom.
KTFA:
Clare: Al-Sudani to pay official visit to UK tomorrow, Monday
An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.
The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."
He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom. link
Clare: Trump's envoy on his way to Iraq.. A new message to Al-Sudani
1/11/2025
An informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying with him a message to Prime Minister Mohammed Shia al-Sudani.
According to the source, who spoke to Shafaq News Agency, "An American envoy is expected to arrive in Baghdad, carrying direct messages from Trump about the security of the region and Iraq's role in it."
The source explained that "the visit may be secret (not officially announced)," noting that the envoy will also discuss the details of Al-Sudani's recent visits, and Trump's vision according to the recent changes in the region.
An informed political source reported last week that the Iraqi Prime Minister received a message from US President-elect Donald Trump, via a special envoy on an unannounced visit, which included several axes .
According to the source, the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government .
Meanwhile, a government source told Shafaq News Agency that Iraq is working diligently to establish security in the region, and that the Prime Minister presented Iraq's vision in this regard during a visit to Iran .
Al-Sudani had made numerous visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan, Saudi Arabia, and recently Iran, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States . LINK
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Clare: The Central Bank calls on banks to expand and expand ATM services and cash payment machines
1/12/2025 Baghdad -
The Central Bank of Iraq called on banks, on Sunday, to expand the spread of cash delivery outlets through all available channels such as ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.
Central Bank statement, as reported to 964 Network :
The Central Bank of Iraq works within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs, 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 it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.
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:
Clare: Central Bank of Iraq: We are working to provide ATMs in all regions
1/12/2025
The Central Bank of Iraq confirmed, on Sunday, that it is working to provide ATMs and cash payment machines, while indicating that it has directed all banks to spread their financial services in all regions.
The bank said in a statement received by Shafaq News Agency, "The Central Bank of Iraq is working within its strategy to provide various services to bank card holders, 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."
He added that "the Central Bank confirmed in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."
He pointed out that "the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously." LINK
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Clare: Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations
1/12/2025 Information/Baghdad…
MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.
Al-Saadi said in a statement to Al-Maalouma Agency, "The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers."
He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."
Al-Saadi pointed out that "currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country," noting that "most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."
The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion." LINK
The Center of the Next Meltdown
The Center of the Next Meltdown
Liberty and Finance: 1-11-2025
The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.
During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.
The Center of the Next Meltdown
Liberty and Finance: 1-11-2025
The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.
During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.
Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.
While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.
His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.
“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”
He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.
The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.
This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.
The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.
However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.
This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.
In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.
While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.
Iraq Economic News and Points to Ponder Sunday AM 1-12-25
Iraq's Missing Money...Dubai Is Indicted: Smuggling Is Still Continuing And Trump Is Coming
Economy | Yesterday, | Baghdad today – Baghdad Representative Baqir Al-Saadi revealed today, Saturday (January 11, 2025), that Dubai has become the largest point for smuggling Iraqi funds abroad,
pointing out the involvement of individuals, money changers, and banks in these operations. Al-Saadi said in an interview with "Baghdad Today",
"The smuggling of money from Iraq is still continuing in various forms, whether by individuals or
banking companies, in addition to the involvement of some banks that use remittances as a means of transferring money in a way that raises major question marks."
Iraq's Missing Money...Dubai Is Indicted: Smuggling Is Still Continuing And Trump Is Coming
Economy | Yesterday, | Baghdad today – Baghdad Representative Baqir Al-Saadi revealed today, Saturday (January 11, 2025), that Dubai has become the largest point for smuggling Iraqi funds abroad,
pointing out the involvement of individuals, money changers, and banks in these operations. Al-Saadi said in an interview with "Baghdad Today",
"The smuggling of money from Iraq is still continuing in various forms, whether by individuals or
banking companies, in addition to the involvement of some banks that use remittances as a means of transferring money in a way that raises major question marks."
He added, "Dubai has become the largest destination for this money, with clear indicators observed during the recent period confirming the involvement of some banks in facilitating smuggling operations." Al-Saadi confirmed that
“the Iraqi Parliament, through its oversight duties, is following up on many files related to this matter, some of which are under investigation in coordination with the competent regulatory authorities,” noting that
“the Central Bank of Iraq suspended the activity of 10 banks due to suspicions about smuggling money outside the country in illegal ways.” Comply with established instructions and controls. Al-Saadi explained,
"The money smuggling file is very complex, despite a series of measures taken by the Central Bank, including coordination with the US Treasury Department, which imposed sanctions on some of the banks involved." He pointed out that
"smuggling operations depend on complex routes and routes, which makes controlling them a major challenge," stressing that
"there are important investigations underway that may yield tangible results during the coming period." Al-Saadi concluded by saying,
"Efforts are continuing to uncover the facts and hold those involved accountable, but
combating this thorny issue requires more time and strict measures."
It is noteworthy that US President-elect, Donald Trump, has stated more than once that he will deal firmly with the issue of protecting the dollar in the world, especially with countries that have admitted their involvement in currency smuggling and money laundering, such as
Iraq, which the Trump team believes tolerates currency and oil smuggling operations.
https://baghdadtoday.news/265657-أموال-العراق-المفقودة.-دبي-في-دائرة-الاتهام-التهريب-لايزال-مستمرا-وترامب-قادم.html
International Banking Day
Economical 01/12/2025 Muhammad Sharif Abu Maysam At the end of the year 2019, the United Nations approved International Banking Day, which is held on December 4 of each year. According to its organizers,
it aims to shed light on the important role that banks play in financing sustainable development, by providing financing, technical advice, and assistance in implementing projects.
Which promotes poverty eradication, reducing inequality and combating climate change.
Based on this goal, the following question can be asked:
Have they contributed, and
do local banks contribute, to financing sustainable development, and
what are their contribution rates in implementing projects that promote the eradication of poverty and the reduction of inequality in light of the total of their capital, deposits and reserves?
Did it exercise the role for which it was found after its capital had matured by establishing this role through overnight investment and the currency auction, from ten billion dinars according to Iraqi Banking Law No. 94 of 2004 to about 450 billion dinars, as in the instructions of the Central Bank, which recently stipulated this minimum ceiling for the work of any... A bank in the Iraqi banking arena by the end of this month
Meaning that the bank that started with ten billion dinars in the years following 2004 has or will have 450 billion dinars at the end of this month, otherwise it will be subject to merger or cancellation, and
this is thanks to the monetary policy that was followed in order to support the Iraqi banking sector and make it a sector qualified to deal with... International banks and banking according to what the global banking industry has reached, and in a way that makes it capable of introducing modern banking technologies and programs to complete financial exchanges and trades with countries of the world.
In return, what is required of local banks to offer now in light of the economic transformations the country is witnessing?
“Governmental and private” banks have made an effective contribution to turning the wheel of the economy over the past years, despite the many comments surrounding their work,
but some of these banks did not live up to the level of support they received, and
others were preoccupied with achieving more profits at the expense of their development duties.
This is evident in the movement of money that flows through the daily currency auction with the aim of achieving more profits under the pretext of financing foreign trade in exchange for lower credit rates, which indicates the desired goal of creating these banking institutions whenever their rates rise.
While the deposit rates of many of these banks are declining due to the lack of attention to the
focus of attracting customers and restoring confidence with the public, with the aim of
withdrawing the cash mass and
circulating it in credit operations, and then
contributing to development processes,
promoting the eradication of poverty, and
reducing inequality, and this is what is required. https://alsabaah.iq/108366-.html
Expectations For The Performance Of The Largest Arab Economies In 2025.. What About Iraq?
2025-01-10 | Source: Al Jazeera Net 1,780 views Alsumaria News - Economy A state of economic uncertainty continues in the world, including Arab countries , but there is optimism about economic performance in 2025 compared to last year, according to the expectations of the International Monetary Fund and the World Bank.
Last April, the IMF warned of “the increasingly prevailing state of uncertainty in light of the
ongoing conflicts, the
disruption of shipping traffic, and the
decline in oil production,” and thus
“an uneven recovery has begun to emerge, with the pace of growth varying this year across East the Middle and Central Asia.”.
Last October, the World Bank published its “Economic Observatory for the Middle East and North Africa” report, which included expectations for GDP growth for countries in the region in 2025, in addition to many other indicators.
In terms of numbers, specialized websites collected the forecasts of the two international institutions and were as follows:
Saudi Arabia
Expectations of real GDP growth in the Kingdom for the year 2025 were 4.9%, compared to 1.6% in 2024, compared to a contraction of 0.8% in 2023, and compared to a growth of 7.5% in 2022.
As for the growth expectations of real GDP per capita for the year 2025, it was 3.5%, compared to 0.2% in 2024, compared to a contraction of 2.2% in 2023, and compared to a growth of 6.1% in 2022.
The World Bank's inflation forecast was 2.3% in 2025, compared to 2.1% in 2024.
The bank added, " Saudi Arabia is suffering from a public finance deficit, and it is expected that the deficit in the Kingdom will remain stable at 2% of GDP due to the decline in oil revenues and the expansionary public finance policy."
Qatar
Real GDP growth expectations in Qatar for 2025 reached 2.7%, compared to 2% in 2024, 1.2% in 2023, and 4.2% in 2022.
Expectations of real GDP per capita growth in 2025 were 1.2%, compared to 2.3% in 2024, compared to a contraction of 3.1% in 2023, and compared to a contraction of 4.5% in 2022.
The World Bank’s expectations for the public finance balance of GDP for the year 2025 were 4.6%, compared to 4.2% in 2024, 5.6% in 2023, and 10.4% in 2022.
The report expected inflation in 2025 to reach 1.9%, compared to 1.3% in 2024.
Egypt
The World Bank expects the real GDP growth rate for the year 2025 at 3.5%, compared to 2.5% in 2024, 3.8% in 2023, and 6.6% in 2022.
Expectations of real GDP per capita growth in 2025 were 1.9%, compared to 0.9% in 2024, 2.2% in 2023, and 4.9% in 2022.
The World Bank’s expectations for the proportion of the public finance balance to GDP in 2025 were about -7%, compared to -3.6% in 2024, -6% in 2023, and -6.2% in 2022.
The report expected inflation in 2025 to reach 17.2%, compared to 33.6% in 2024.
Morocco
Real GDP growth expectations in Morocco for 2025 were at 3.9%, compared to 2.9% in 2024, 3.4% in 2023, and 1.5% in 2022.
Expectations of real GDP per capita growth in 2025 were 2.9%, compared to 1.9% in 2024, 2.4% in 2023, and 0.5% in 2022.
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -3.8%, compared to -4.2% in 2024, -4.4% in 2023, and -5.4% in 2022.
The report expected inflation in 2025 to reach 2.7%, compared to 1.5% in 2024.
Algeria
Real GDP growth expectations in Algeria for the year 2025 were at 3.8%, compared to 3.1% in 2024, 4.1% in 2023, and 3.6% in 2022.
Regarding the growth expectations of real GDP per capita for the year 2025, it was at the level of 2.4%, compared to 1.6% in 2024, 2.5% in 2023, and 1.9% in 2022.
The World Bank’s expectations for the proportion of the public finance balance to GDP were -9.9% for the year 2025, compared to -9.8% for the year 2024, -5.2% for the year 2023, and -3% for the year 2022.
The report expected inflation in 2025 to reach 4.9%, compared to 4% in 2024.
The UAE
Real GDP growth expectations in the UAE for the year 2025 were at 4.1%, compared to 3.3% in 2024, 3.2% in 2023, and 7.9% in 2022.
Growth expectations for real GDP per capita in 2025 were 3.4%, compared to 2.5% in 2024, 2.4% in 2023, and 7% in 2022.
The World Bank's expectations for the proportion of public finance balance to GDP in 2025 were 4.7%, compared to 4.9% in 2024, 5.1% in 2023, and 10.8% in 2022.
The report expected inflation in 2025 to reach 2.1%, compared to 2.2% in 2024.
Jordan
Real GDP growth expectations in Jordan for the year 2025 were at 2.6%, compared to 2.4% in 2024, 2.7% in 2023, and 2.6% in 2022.
Growth expectations for real GDP per capita in 2025 were 2.1%, compared to 1.9% in 2024, 2.2% in 2023, and 1.4% in 2022.
According to the World Bank’s expectations for the proportion of the public finance balance to GDP in 2025, it is likely to be -5%, compared to -5.3% in 2024, -5.1% in 2023, and -5.6% in 2022.
The report expected inflation in 2025 to reach 2.2%, compared to 2% in 2024.
Iraq
Real GDP growth expectations in Iraq for 2025 were 4%, compared to -0.9% in 2024, -2.9% in 2023, and 4.7% in 2022.
The World Bank expects the growth of real GDP per capita in 2025 to be 1.7%, compared to a contraction of 3% in 2024, a contraction of 5.1% in 2023, and a contraction of 2.4% in 2022.
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -7.4%, compared to -5.3% in 2024, 0.9% in 2023, and 14.1% in 2022.
The report expected inflation in 2025 to reach 3.3%, compared to 3.7% in 2024.
https://www.alsumaria.tv/news/economy/512427/توقعات-أداء-أكبر-الاقتصادات-العربية-في-2025-ماذا-عن-العراق؟
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Sunday Morning 1-12-25
Good Morning Dinar Recaps,
BRICS PAY: IS 2025 NOW OR NEVER FOR ALLIANCE PAYMENT SYSTEM?
Despite the project first being announced as part of the 2024 summit, BRICS Pay has failed to make a significant impact as 2025 arrives. With the economic alliance continuing its de-dollarization efforts and US President-elect Donald Trump issuing a start 100% tariff warning, it appears like it may be now or never for the payment system.
For the past two years, the bloc has sought alternative payment methods to help defend against Western economic dominance and imposed sanctions.
Good Morning Dinar Recaps,
BRICS PAY: IS 2025 NOW OR NEVER FOR ALLIANCE PAYMENT SYSTEM?
Despite the project first being announced as part of the 2024 summit, BRICS Pay has failed to make a significant impact as 2025 arrives. With the economic alliance continuing its de-dollarization efforts and US President-elect Donald Trump issuing a start 100% tariff warning, it appears like it may be now or never for the payment system.
For the past two years, the bloc has sought alternative payment methods to help defend against Western economic dominance and imposed sanctions.
Although BRICS has made some progress, it certainly has not been able to challenge the US dollar in any significant way. Now, all eyes are on the importance of 2025 for one of its most important economic plans.
BRICS Pay Faces Critical Year Amid Rising Geopolitical Turmoil
For the last two years, the BRICS bloc has mobilized in a way that has sent ripples through the globe. First formed in 2001, the bloc expanded for the first time in 2023. Now, two years later, it has already doubled its member count while welcoming a secondary tier of partner nations.
However, although its presence has grown, so too have its challengers. With the incoming presidential administration not content to allow the bloc to grow unchecked, the BRICS Pay platform and the group’s de-dollarization efforts look like they’re now or never entering 2025.
US President-elect Donald Trump has recently issued 100% tariff threats on the BRICS alliance specifically. This has greatly affected the bloc and its growth prospects.
Although the previous administration allowed its efforts to go unchecked, nations seeking to join the group must now grapple with concerns regarding Western retaliation.
Moreover, for all that BRICS has attempted over the last year, the US dollar remains unchallenged. More importantly, it has emerged stronger compared to a plethora of alliance currencies. The greenback has appreciated more than 5% since the start of the year, with the Chinese yuan and Indian rupee falling significantly since the start of the year.
Ultimately, the BRICS Pay platform was the alliance’s “step towards a multipolar global economy,” Ramesh Vaidyanathan of the IBA Asia Pacific Regional Forum said. “It could also increase competition between the Western and Eastern economic models, with long-term geopolitical implications,” he warned.
Altogether, BRICS Pay has thus far failed to live up to expectations. With Donald Trump eager to protect the greenback, its road to de-dollarization looks more treacherous than ever. It is now or never for the alliance payment system, indeed.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
RIPPLE’S $100,000,000 RLUSD MILESTONE SIGNALS STRONG 2025 OUTLOOK FOR XRP
▪️Ripple's RLUSD stablecoin sees $100M+ daily volume, aiming to dominate DeFi and global payments in 2025.
▪️Ripple's liquidity-driven RLUSD strategy focuses on DeFi, tokenization, and partnerships for rapid adoption.
Ripple has launched its new stablecoin, RLUSD, which is already seeing impressive trading volumes of over $100 million daily. Many are curious about how this move will impact XRP, and here’s what Austin, a former Ripple employee and co-founder of Omni Network, shared about Ripple’s strategy moving forward.
“Liquidity is a flywheel. The more trading activity an asset has, the more incentivized other exchanges will be to integrate that asset. This idea is foundational to every initiative driven by Ripple. How are they applying this concept to their $RLUSD strategy?”, he wrote on social media.
Ripple’s RLUSD Strategy Revealed
Austin King, who previously worked closely with Ripple’s co-founder David Schwartz shared details on Ripple’s approach to RLUSD.
According to him, Ripple’s strategy is focused on driving adoption of RLUSD using a liquidity-driven model. The more trading activity RLUSD generates, the more exchanges and traditional finance companies will be incentivized to integrate it.
Key Pillars of Ripple’s RLUSD Strategy
Liquidity Hub and Tokenization: Ripple aims to make RLUSD the go-to asset for real-world asset tokenization and liquidity. This will be critical for onboarding traditional finance companies, positioning RLUSD as a central hub in the financial ecosystem.
DeFi Dominance: Ripple plans to integrate RLUSD into decentralized finance (DeFi) protocols, including lending platforms, decentralized exchanges, and derivatives. The recent partnership with Chainlink to bring RLUSD to Ethereum-based DeFi protocols marks a significant step in this direction.
Leveraging Existing Partnerships: Ripple has a strong network of banks and fintechs through RippleNet. This existing infrastructure will be used to drive RLUSD adoption, making it easier for Ripple to introduce the stablecoin to its partners.
Austin believes that 2025 is set to be a huge growth year for Ripple and RLUSD, with stablecoins playing a central role in global payments.
FAQs
What is Ripple’s RLUSD stablecoin?
Ripple’s RLUSD is a stablecoin focused on liquidity-driven adoption, aiming to integrate into DeFi and traditional finance for tokenization.
Will RLUSD use XRP?
RLUSD may leverage XRP’s liquidity and Ripple’s infrastructure, enhancing cross-border payments and driving adoption through RippleNet.
@ Newshounds News™
Source: CoinPedia
~~~~~~~~~
NORTH DAKOTA EYES CRYPTO FOR TREASURY: COULD BITCOIN BE INCLUDED?
▪️North Dakota joins New Hampshire in exploring crypto investments for state reserves, aiming to diversify assets and combat inflation.
▪️Bitcoin’s market dominance positions it as a prime candidate, while tech-neutral policies reduce political resistance in crypto legislation.
@ Newshounds News™
Read more: Crypto News Flash
~~~~~~~~~
OKLAHOMA SENATOR PUSHES BITCOIN FREEDOM ACT FOR BTC PAYMENTS
▪️Oklahoma passed the Bitcoin Freedom Act, which permits state employees, businesses, and residents to make or receive payments in Bitcoin.
▪️The bill also provides for the voluntary acceptance of Bitcoin payments and some exemptions for digital asset companies from licensing.
@ Newshounds News™
Read more: Crypto News Flash
~~~~~~~~~
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Thank you Dinar Recaps
6 Toxic Money Habits
6 Toxic Money Habits Dave Ramsey, Suze Orman and Other Experts Want You To Avoid
Brooke Barley Sat, January 11, 2025 GOBankingRates
Getting better with money can be as simple as avoiding some behaviors that can wreak havoc on finances. Experts like Dave Ramsey and Suze Orman have built careers giving advice on how to manage money. They have made empires and helped others do the same.
Here’s what Ramsey, Orman and some of the other top money minds have said when it comes to money habits that need to be broken immediately.
6 Toxic Money Habits Dave Ramsey, Suze Orman and Other Experts Want You To Avoid
Brooke Barley Sat, January 11, 2025 GOBankingRates
Getting better with money can be as simple as avoiding some behaviors that can wreak havoc on finances. Experts like Dave Ramsey and Suze Orman have built careers giving advice on how to manage money. They have made empires and helped others do the same.
Here’s what Ramsey, Orman and some of the other top money minds have said when it comes to money habits that need to be broken immediately.
Not Talking About Money
A big money mistake people make? Not talking about it at all. That’s according to Ramit Sethi, self-made millionaire and star of the Netflix show “How to Get Rich.” He’s explained in the past that if people aren’t being open about where their finances stand — at least with themselves — they won’t improve.
“How can you expect to get ahead if you’re not actually talking about money, either solo or with a partner?” he said on X. “Money is a regular topic in any financially successful household.”
Being Prideful, Greedy or Fearful
Radio personality and money expert Ramsey advised that pride, greed and fear will make a person broke. He backs this up by saying he’s been all three and lost money in the process. When describing pride, he said that it’s not worth spending money on things just to earn accolades or attention. “Would I buy this if no one ever saw it? That’s your test on the pride button,” Ramsey explained.
Earning money simply for the sake of it is greedy and Ramsey advised against that behavior. “You can have a money motivation to the exclusion of other things. But if your only button to push is money, that’s greed,” he said in an Instagram video clip.
Fear manifests as desperation according to Ramsey and he considers this the worst thing to be when it comes to money. “Just about twenty seconds later after I get desperate, I get stupid,” he added. “And right after I get stupid, I get broke, right?”
Not Questioning Your Family’s Money Philosophies
TO READ MORE: https://www.yahoo.com/finance/news/6-toxic-money-habits-dave-230008050.html
“Bits and Pieces” in Dinarland Sunday AM 1-12-2025
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 Sun. 12 Jan. 2025
Compiled Sun. 12 Jan. 2025 12:01 am EST by Judy Byington
Judy Note: Get Ready For Ten Days of Communication Darkness. The power to the entire World will switch off briefly to install our new Starlink Satellite Internet. Shutdowns will occur, but only in certain areas. Banks will close. ATMs and Credit Cards will stop working. Have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency. If you’re unprepared, don’t worry. The Military will supply what you need. Nonstop education will be broadcast, teaching everyone about the true principles of Freedom and Justice.
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 Sun. 12 Jan. 2025
Compiled Sun. 12 Jan. 2025 12:01 am EST by Judy Byington
Judy Note: Get Ready For Ten Days of Communication Darkness. The power to the entire World will switch off briefly to install our new Starlink Satellite Internet. Shutdowns will occur, but only in certain areas. Banks will close. ATMs and Credit Cards will stop working. Have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency. If you’re unprepared, don’t worry. The Military will supply what you need. Nonstop education will be broadcast, teaching everyone about the true principles of Freedom and Justice.
Possible Timing:
On Wed. 15 Jan 2025 a 48-Hour Communication Blackout (allegedly) will begin. There will be GCR GESARA Worldwide Wealth Redistribution while the depth of corruption will be revealed.
Three days later on Inauguration Day Mon. 20 Jan. 2025 ten days of Communication Darkness will (allegedly) begin. The new Star Link Satellite System will(allegedly) show documentaries 24/7 to inform the public about the fall of the Cabal and it’s fiat US Dollar, independence for all 209 nations participating in the Global Currency Reset and the availability of(allegedly) long hidden technologies including Med Beds.
On Sat. 25 Jan. 2025, the first phase of the wealth redistribution will officially (allegedly) commence, directly benefiting millions and marking the start of real community rebuilding efforts.
Global Financial Crisis:
Fri. 10 Jan. 2025: Breaking! The BRICS Alliance, NESARA GESARA and Quantum Financial System (QFS): The Deep State’s Greatest Fear Realized! – amg-news.com – American Media Group
Read full post here: https://dinarchronicles.com/2025/01/12/restored-republic-via-a-gcr-update-as-of-january-12-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man The 2023, 2024, 2025 budget amendment looks to be on the table. It was supposed to be read on Monday, it looks like it's slated for Sunday. So powerful weekend...It looks pretty promising it really does.
Walkingstick [Iraqi bank friend Aki update] AKI: We are just sitting here waiting for the introduction of the new exchange rate that will come from the '25 budget. We wait for the budget laws that will expose the budget and its components and the new rate...
Frank26 It used to be they would steal the money...through the auctions but now there is no more auctions. The cash cow is dead and the security and stability is blossoming inside of Iraq because of the efforts of Sudani, and the United States Treasury...The black market was another powerful weapon they used to manipulate the exchange rate of the Iraqi currency...The black market rate is dropping. It is dying...The black market does not feed the evil people anymore...
President of the Republic of Iraq finance
Nader: 1-12-2025
UK’s Assets Crash Just Sent a Massive Warning to the World - What It Means
Sean Foo: 1-11-2025
The UK is suffering from yet another historic bond market sell-off and a currency collapse. This is a result of the US dollar wrecking ball. But that doesn't mean the US economy is off the hook. The system is about to also wreck the US stock market as well as its hegemony in geopolitics.
Timestamps & Chapters:
0:00 UK Assets In Major Crisis
3:03 Debt Collapse Hits Economy
6:05 Global Market Sell-Off Begins
8:55 World Will Move Way From U.S.
11:50 Expect Zero Rate Cuts In 2025
“Tidbits From TNT” Sunday Morning 1-12-2025
TNT:
Tishwash: Economist: The Central Bank’s policy is moving towards globalizing Iraqi banks
Economic expert "Safwan Qusay" confirmed that the Central Bank's policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally.
Qusay said in an interview: "The Central Bank's policy is moving towards consolidating the issue of globalizing Iraqi banks, and the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks."
TNT:
Tishwash: Economist: The Central Bank’s policy is moving towards globalizing Iraqi banks
Economic expert "Safwan Qusay" confirmed that the Central Bank's policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally.
Qusay said in an interview: "The Central Bank's policy is moving towards consolidating the issue of globalizing Iraqi banks, and the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks."
He added that "these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world, and there is a possibility to develop the performance of other banks in order to succeed in the international acceptance process, and there is still a possibility to import capital from different countries of the world and re-inject it into the local environment in the form of grants in different investment portfolios, and thus the possibility of achieving the goals of the Central Bank in the matter of development."
He pointed out that "the Central Bank will move from the issue of accepting local banks internationally to the issue of participating in the development process, and this will certainly contribute to achieving part of the government program's goals in employing the unemployed, and in forming productive Iraqi capital, especially since a portion of Iraqis own Iraqi dinars outside the banking system, and whenever we start the issue of convincing them to trust Iraqi banks, we will have new doors to operate this monetary mass."
He stressed that this step will contribute to raising the status of Iraqi banks globally, "meaning that they will succeed in the process of having a name in international financial transfer operations, and gradually confidence between banks will be strengthened, and there is what is called credit cover between Iraqi banks and international banks, and the level of confidence will be reflected in the credit cover."
He pointed out, "Whenever there are transfers and coverage at acceptable credit levels, this level may rise so that we succeed in the process of having Iraqi banks that are accepted internationally - and this is a step that does not exist - as Iraqi banks, especially public ones such as Rafidain and Rashid, have withdrawn from international financial transfers since the eighties of the last century."
Pointing out that "rehabilitating these banks, especially TPI Bank, can contribute to our having international acceptance for international correspondents for these banks." link
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Tishwash: 2025 budget is on the verge of legislation, and delaying the schedules will not stop the decision
Jamal Kojer, a member of the Finance Committee in Parliament, confirmed today, Saturday, that the 2025 budget schedules have not reached Parliament yet, but he stressed that the budget will be legislated during the current legislative session.
Kocher explained in a statement to {Euphrates News} that "the delay in the arrival of the tables will not affect the course of the budget legislation, indicating that the next legislative session will be quieter due to the preoccupation of the representatives with the elections, which will reduce their attendance at the sessions."
It is noteworthy that the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government sends the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year.
He added that the Ministry of Finance has announced that it is in the process of preparing the general budget schedules for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Triennial Budget Law.
Saleh noted that the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, in a way that ensures that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024. link
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Tishwash: Salaries are secured and a committee is following up on Kurdistan’s dues.. Details of hosting Taif Sami in Parliament
On Saturday, January 11, 2025, the head of the Finance Committee, Atwan Al-Atwani, revealed the details of hosting the Minister of Finance, Taif Sami, within the committee, while indicating that the minister confirmed securing the salaries of employees during 2025 .
Al-Atwani said in a press statement followed by the "Al-Jabal" platform, "Minister of Finance Taif Sami confirmed during her hosting within the Parliamentary Finance Committee that employees' salaries are secured through 2025."
He added, "We have formed a subcommittee to follow up on the Kurdistan Region's dues for the years 2024-2025," adding, "The committee will submit its report in the next Monday's session regarding amending Article 12 / Second / Paragraph C of the General Budget Law."
Earlier today, the Iraqi Parliament's Finance Committee held a meeting, hosting Iraqi Finance Minister Taif Sami, to discuss the issue of amending the country's general budget law and securing employees' salaries.
A source from within the parliamentary finance committee previously told Al-Jebel platform that “this meeting (with the Minister of Finance) was supposed to be held before the legislative recess, but the travel of senior officials from the Iraqi Ministry of Finance prevented that,” adding that “the finance committee will collect all information related to the subject during the meeting to later submit it to the Speaker of Parliament.”
The Parliamentary Committee hosted the Minister at the Parliament headquarters to discuss with her the issue of amending the General Budget Law, which the Parliament is scheduled to conduct its first reading of next Monday, and securing the salaries of public sector employees for the year 2025.
The Iraqi Parliament is scheduled to hold a session on Monday, January 13, to discuss and read a set of proposed draft laws, including an amendment to the provisions of Iraq’s General Budget Law No. 13 of 2023.
The aforementioned amendment is related to the resumption of oil exports from the Kurdistan Region abroad.
Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, had previously stated to the Mountain Platform, “We conducted the first reading of the amendment and all that remains is the second reading and voting on it. All expectations are moving towards an agreement, and there is a political agreement as well as an international and regional agreement on the necessity of re-exporting Kurdistan’s oil at a rate of 400,000 barrels per day.”
He added, "The order to resume oil exports from the Kurdistan Region is still in place, through amending (Article 12, Paragraph/Second C) in General Budget Law No. 13 of 2023."
Oil exports from the Kurdistan Region to abroad via the Turkish port of Ceyhan were halted in March 2023, after the International Court of Arbitration in Paris issued a decision to adjudicate a lawsuit filed by Iraq against Turkey regarding (the illegality of exporting Iraqi oil from the port of Ceyhan without coordination with the Iraqi SOMO Company). According to official statements by officials, the losses of Iraq and the Kurdistan Region from stopping the export process exceeded $20 billion since last year. link
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Mot: Legends Say that Hummingbirds ----
Mot: . I Figured It Out!!!
More News, Rumors and Opinions Saturday PM 1-11-2025
KTFA:
Clare: Parliamentary Finance hosts Taif Sami to discuss 2025 budget schedules and salary insurance
1/22/2025 Baghdad
Today, Saturday, the Parliamentary Finance Committee hosted the Minister of Finance, Taif Sami.
An informed source said, "The meeting will discuss the 2025 budget schedules and securing salaries."
He added, "The meeting will also discuss Article 12 of the 2025 Budget Law Amendment, which relates to resuming the export of Kurdistan Region oil and preparing the final draft of the amendment."
KTFA:
Clare: Parliamentary Finance hosts Taif Sami to discuss 2025 budget schedules and salary insurance
1/22/2025 Baghdad
Today, Saturday, the Parliamentary Finance Committee hosted the Minister of Finance, Taif Sami.
An informed source said, "The meeting will discuss the 2025 budget schedules and securing salaries."
He added, "The meeting will also discuss Article 12 of the 2025 Budget Law Amendment, which relates to resuming the export of Kurdistan Region oil and preparing the final draft of the amendment." LINK
Clare: The House of Representatives discusses amending the Unified Retirement Law and the General Budget
1/11/2025
The Iraqi Council of Representatives is scheduled to resume its sessions tomorrow, Sunday, and the first reading of the draft amendment to the Federal Budget Law is on the agenda, as it proposes extending the retirement age for public sector employees to 63 years.
In this regard, Dr. Narmin Marouf, a member of the Parliamentary Finance Committee, said: “The first session of the first legislative term of the new year will be held on Sunday, as the agenda includes the first reading of the draft law amending the General Retirement Law No. 9 of 2014.”
Dr. Narmin Marouf added: “The main article to be amended in the law is Article 5 related to the retirement age, as the amendment proposes returning the retirement age for public sector employees to 63 years, as it was before the legislation of the aforementioned law, which reduced the retirement age to 60 years.”
The Council of Representatives is scheduled to hold another session on Monday 13/10, and its agenda includes 10 paragraphs, the most important of which is the second reading of the draft amendment to the Federal General Budget Law.
The amendment relates to Article 12 of the Federal Budget Law of the Republic of Iraq for the fiscal years (2023-2024-2025) No. 13 of 2023, and this article concerns the export of oil extracted from the Kurdistan Region through the Iraqi Oil Marketing Company (SOMO).
On 11/7/2024, the Presidency of the Iraqi Council of Representatives decided to extend its legislative term for 30 days, starting from November 9. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Parliament just announced the next session will include amending the budget. It's on TV now...Sudani wanted this done by the 6th, no later than the 7th and now they're come out 3 days later saying okay, okay okay we're going to do it. TV keeps going over the parliament plans on amending the investment budget in the next two sessions that are coming... FRANK: If they truly do anything with the budge it will be exposing the new exchange rate.
Militia Man Article "Explains the new mechanism for external transfers after the platform is closed" Here again we're learning they've changed the dollar auctions to the new reinforcement mechanism ...That's why you're hearing people squeaking pretty loudly about pricing going up on the streets because they can't get the dollar...
Iraq's GDP to Increase Why This Matters for IQD Rate
Edu Matrix: 1-9-2025
Iraq's GDP to Increase Why This Matters for IQD Rate - Iraq is set to embark on a transformative $17 billion project to construct a rail line and motorway to Turkey, generating a promising 20,000 jobs for its citizens!
This development signals a bright future for IQD investors. Dive into the application of Okun's Law, revealing the crucial link between GDP and unemployment rates.
Explore Iraq's ambitious infrastructure projects, including the Central Bank Tower and Grand Al-Faw Port, recognized as top mega projects for 2025 by The B1M.
Meanwhile, BRICS is expanding with nine new partners, now representing half of the global population and a significant portion of the economy. Discover the implications of these shifts, including internal conflicts regarding a common currency.