News, Rumors and Opinions Sunday PM 12-22-2024
TNT:
Tishwash: Project to remove zeros from Iran's deteriorating currency
The Iranian government has submitted a bill to the Islamic Consultative Assembly to remove four zeros from the national currency and convert its unit from the rial to the toman.
The government of Masoud Pezeshkian stated that the purpose of preparing this bill and submitting it to parliament is to “reduce the problems caused by chronic inflation and the decline in the purchasing power of the national currency,” which in recent years has led to a significant increase in daily transactions and a “clear decline in the reputation of the national currency” compared to other currencies.
Tasnim News Agency reported that this bill was approved by the second government of President Hassan Rouhani in August 2019, and has now been submitted to the parliament as an emergency bill in the fourteenth government.
An attempt is being made to preserve the “reputation” of the national currency by removing four zeros, while the Iranian rial is currently the least valuable currency in the world, and its value continues to decline, as it was exchanged against the dollar for more than 760,000 Iranian rials.
Although removing four zeros from the national currency may make trading easier in the market, the government has not explained how it expects inflation to be reduced by removing four zeros from the national currency. link
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Tishwash: During 2025.. Cautious anticipation of the economic and financial reality in Iraq
Economic expert Ahmed Al-Tamimi confirmed today, Sunday (December 22, 2024), that Iraq is heading towards a cautious situation regarding its economic and financial situation during the year 2025.
Al-Tamimi told Baghdad Today: “Expectations and data confirm that Iraq is facing hot events at the beginning of the new year, and these events will have repercussions and reflections on the country’s financial and economic reality, especially with the imminent assumption of the presidency of the White House by US President-elect Donald Trump, and the fear of imposing some sanctions and financial tightening on Iraq in order to limit the smuggling of the dollar as well as limiting the Iranian role through these economic pressures.”
He added, "There is extreme caution regarding the financial and economic reality of Iraq at the beginning of the new year, especially since the Iraqi economic situation is greatly affected by any security or political event, and for this reason everyone is anticipating the coming days, and this matter has led to a decline in the buying and selling of real estate and other valuable items, for fear of any expected economic and financial shock."
The Parliamentary Finance Committee confirmed last Monday that the situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market, noting that “the government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating situation in Syria.” link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Do you realize how long we have been waiting for this news to get off the sole dollar in payments for imports and be done away with these corrupt currency auctions? Yes, Iraq is now officially out of the sanctioned mode of paying for imports...Can the news get any better (other than getting the RV of course…), WOW! WOW! WOW!. Yes, it’s DONE! ...I see this process moving ahead now very nicely.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about the dollar exchange. FRANK: of course they are. That's all they're going to talk to you about. FIREFLY: They're saying the dollar platform is about to stop. They're saying there's a shock that's coming when the platform stops. Then they're saying the dollar will rise because of the demand. We think they are warning to be careful not to use the dollar. That's crazy. We know the dinar will have to go up... FRANK: Yeah, because it's not going to be just 1 to 1 IMO. It'll be maybe a little more than 1 to 1 which means it has more value than the American dollar.
Sovereigns to Rebalance Reserves from Fiat to BTC & Gold in 2025, Price Upside Incoming | Deven Soni
Kitco News: 12-22-2024
Bitcoin has shattered records in 2024, soaring past $106,000 amid growing interest in its role as a strategic reserve asset.
With discussions of a potential U.S. Bitcoin strategic reserve gaining momentum under the Trump administration, the cryptocurrency's future has never been more promising—or uncertain.
Deven Soni, CEO of Matador Technologies, joins Kitco News to unpack the implications for Bitcoin, gold, and the broader financial landscape as we look ahead to 2025.
Soni explains how Matador Technologies is innovating at the intersection of blockchain and precious metals, merging gold with Bitcoin to create groundbreaking digital gold products. We also explore global adoption trends, Bitcoin’s rivalry with gold, and the impact of geopolitical shifts on both assets.
As central banks and investors reevaluate their strategies, this conversation delves into the key risks, opportunities, and scenarios shaping the future of Bitcoin and gold.
Don’t miss this forward-looking analysis of two of the world’s most talked-about assets.
00:00 Introduction
00:37 Bitcoin Reserve
00:58 Global Bitcoin Adoption
03:02 Bitcoin's Impact on the US Economy
03:48 Bitcoin Price Predictions
06:31 Comparing Bitcoin and Gold
10:10 Wall Street's Mixed Reactions to Bitcoin
12:38 MicroStrategy and Bitcoin Investment Strategies
14:33 Gold's Future Amid Bitcoin's Rise
24:01 Matador Technologies: Going Public and Future Plans
33:37 Conclusion