Iraq News Highlights and Points To Ponder Thursday Afternoon 10-3-24

Dollar Trading Halted In Anbar Due To High Exchange Rate

Economy   Today    Information/Anbar  Exchange offices in Anbar province have refrained from buying and selling the dollar after sudden speculations led to a rise in the exchange rate.

A source in the governorate told Al-Maalouma Agency that "the fluctuation in the exchange rate of the dollar, which rose suddenly, led to exchange offices refraining from trading in the currency."

He added, "The exchange offices are waiting for the market to stabilize to resume trading in the dollar."

He explained that "a force from the National Security Service carried out a security operation targeting a number of exchange offices in search of exchange rate speculators."

He explained, "The exchange rate jumped to 155 thousand dinars for every 100 dollars after it was 150 thousand dinars for every 100 dollars." End 12A  LINK

Dollar Storm Hits Local Markets.. Only Half A Point Left For 155 Thousand - Urgent

Economy |Baghdad Today - Baghdad

Today, Thursday (October 3, 2024), the dollar exchange rates recorded a new rise in the main stock exchanges and local markets in Iraq.

Baghdad Today correspondent said that the exchange rates in the main stock exchange in the capital, Baghdad, recorded a price of 153,500 dinars for every 100 dollars.

He added that the selling price of the dollar in local markets was 154,500 dinars, while the buying price was 152,500 dinars for every 100 dollars.

He added that the selling price of the dollar in Erbil reached 154,500 dinars, while the purchase price reached 153,750 dinars for every 100 dollars.

He pointed out that the selling price of the dollar in Basra reached 154,000 dinars, while the purchase price reached 153,500 dinars for every 100 dollars.   LINK

This Is Why Oil Traders Are Betting On It Rising To $100 

Energy   Economy News - Follow-up  A wave of crude oil options that could be triggered if prices rise to $100 a barrel were traded on Wednesday, a sign that some traders are looking to hedge against the risk of supply disruptions in the Middle East.

At 11:20 a.m. in New York, about 27 million barrels of Brent crude were trading at $100 for December options, while more than 7 million barrels of U.S. crude were trading at $100 for December options.

Market participants said the flows were likely a mix of buying and selling. While some traders were trying to hedge against a short-term surge in oil prices, others had sold call options in recent weeks and had to cover those positions.

I think of $100 call options as insurance policies for people who are hoping their insurance policy is going to be worthless,” said Scott Shelton, an energy specialist at TPICAP Group Plc.[/rtl]

“I still think there is potential for a significant loss of production, but when it comes to geopolitics, it is always difficult to predict,” he added, noting that the fundamental balance between supply and demand remains weak overall

Brent crude on Tuesday posted its biggest daily swing since March last year as Iran launched a missile attack on Israel and Tel Aviv vowed to retaliate, a move that rippled through an oil market that had seen heavy selling in previous weeks

The increased interest in options contracts, which bet on rising prices, has led to their value soaring. For example, options contracts on West Texas Intermediate and Brent crude oil have hit $100, the highest level since mid-August.

However, traders warn that this bullish trend in options may be driven by a market that is certain to face an oversupply in the coming months, with unstable demand growth and increased production from OPEC+ members and other producers

While some contracts were traded directly, others were spreads that involved simultaneously buying $100 options and selling related contracts, such as $120 options,limiting the ultimate profit from the upside - https://economy-news.net/content.php?id=48295

Baghdad And Washington Discuss Enhancing Joint Cooperation In The Fields Of Energy, Oil And Economy

Thursday 03 October 2024 12:32 | Economic Number of readings: 44  Baghdad / NINA / Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, enhancing joint cooperation in the fields of energy, oil and economy.

A statement by the Ministry of Foreign Affairs stated that Hussein met with John Bass and Jeffrey Bate on the sidelines of the ministerial meeting of the international coalition against ISIS held in Washington. During the meeting, they discussed enhancing joint cooperation in the fields of energy, oil and economy, and continuing diplomatic efforts to maintain the stability and security of Iraq.

The two sides also discussed the need to protect sea lanes to ensure the export of Iraqi and Gulf oil by securing these lanes.

According to the statement, the focus was on continuing the dialogue between Baghdad, Erbil and the oil companies operating in the Kurdistan Region of Iraq to ensure the resolution of disputes related to oil exports. The security situation in the region and the repercussions of the ongoing escalation and its impact on energy and oil sources were also discussed.

The two sides stressed the importance of continuing cooperation between the United States and Iraq to ensure that the country does not get dragged into any regional escalation, and to work to confront the economic challenges resulting from regional unrest.

For his part, Ambassador Bass welcomed Iraq's participation in the tenth ministerial meeting of the international coalition against ISIS, and the strengthening of efforts to combat terrorism. https://ninanews.com/Website/News/Details?key=1159487

Government Moves To Build 6 New Refineries

Thursday,03-10-2024,  Taisir Al-Asadi  The Parliamentary Oil and Energy Committee is working on reviewing and amending the Crude Oil Refining Investment Law of 1964 with the aim of enhancing investment in the oil refinery sector. While expressing its support for the government’s initiative to generalize electronic payment operations at fuel stations in the governorates, it revealed that there is a trend to establish six new refineries.

Sabah Sobhi, a member of the Oil and Energy Committee, told Al-Sabah that “the crude oil refining law is old and contains conditions that do not encourage investment, noting that amending it has become necessary to attract local and international investments, which can contribute to improving the quality of production and reducing environmental costs.”

Sobhi pointed out that "the amendments will provide a more attractive legal environment for companies wishing to enter this sector, which will reduce the financial burden on the government, which is working to develop the infrastructure, increase the production capacity of refineries, and reduce environmental damage resulting from the old technologies currently used."

In addition, the committee expressed its support for the government's initiative to generalize electronic payment operations at fuel stations in the governorates, indicating that this step is important in enhancing transparency and reducing traditional cash transactions and contributes to improving service and collecting money.

Sobhi said: "The use of electronic payment facilitates the process of obtaining fuel, and its generalization in the governorates will benefit the state by improving the mechanisms for recovering and collecting money in a better way than paper transactions that are subject to damage."

Sobhi explained that "this trend enjoys the full support of the committee, because it is in line with development and represents a qualitative shift in the fuel filling sector, which makes obtaining the service smoother and reduces the financial and administrative burdens on the state, in addition to contributing to reducing financial corruption resulting from traditional paper transactions.

In a related context, Sobhi explained that relying on oil alone creates great risks for the Iraqi economy, especially when sudden price drops occur, noting that the committee supports increasing non-oil revenues and addressing any emergency situation.

He stressed that "the committee is keen to keep subsidized gasoline prices as they are, despite government support."

In a related context, committee member Basem Naghamish explained to "Al-Sabah" that "Iraq is committed to the OPEC agreement on production levels and there is no intention to increase it at present to maintain price stability, noting that the Iraqi government announced plans to establish six new refineries, and some companies have begun purchasing private investment portfolios." https://non14.net/public/170726

Eagerly Waiting" OPEC Awaits Global Production Estimates To Confirm Iraq's Commitment

Economy   2024-10-03 | Alsumaria News – Economy   OPEC is eagerly awaiting the second week of October, awaiting the release of secondary sources' reports on member states' production estimates, in order to ensure the extent of OPEC's commitment to...Iraq With production compensation plans that were supposed to start last September.

During the meeting held yesterday, Wednesday, he stressed that Iraq Kazakhstan and Russia, achieving full compliance and compensation according to the timetables submitted for September, and the three countries renewed their strong commitment to maintaining full compliance and compensation throughout the remaining period of the agreement,

while the organization indicated that the final assessments of crude oil production levels in September are based on approved secondary sources that provide data on the production of the countries participating in the Declaration of Cooperation, which will be available by the second week of October 2024.

Iraq's production capacity is 4.6 million barrels per day, but according to the OPEC reduction agreement, its share has reachedIraq4.4 million barrels per day, but it made voluntary cuts in two stages that made its share only 4 million barrels per day, but it did not adhere to all of these stages, to present a compensation plan starting from September 2024 and ending in September 2025.

This compensation plan ensures that it reducesIraqIts production is between 90 and 120 thousand barrels per day, which means that the productionIraqStarting in September, it should be around 3.9 million barrels per day with only the Kurdistan Region producing.

While everyone is waiting for the secondary sources’ estimates to be released, the Bloomberg estimates that have already been released indicate thatIraqIt has reduced its production by 70,000 barrels per day, but it is still far from achieving the compensation plan, as well as the voluntary reduction plan in particular, as it produced 4.25 million barrels per day last September, which is about 10% more production than it is supposed to produce.IraqIn September, it was only 3.9 million barrels per day.

There were reports of "Saudi discontent" with the failure of some OPEC member states to adhere to production quotas, which could lead to Saudi Arabia and other major producing countries abandoning the agreement and increasing their production and flooding the market, which could lead to a major collapse in oil prices, or what is known as a "price war."  LINK

40 Countries Want to Ditch the US Dollar

40 Countries Want to Ditch the US Dollar

We Love Africa:  10-2-2024

In a world increasingly defined by economic interdependence, the dominance of a single currency has profound implications for global trade and financial stability. For decades, the US dollar has reigned supreme, shaping international transactions and financial systems.

However, a new alliance is emerging, giving developing countries a viable alternative. The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—stands at the forefront of this transformation, captivating the attention of nearly 40 additional nations eager to break free from the dollar’s grip.

Emerging economies in Asia, Africa, and South America share a collective aspiration to reduce reliance on the US dollar, and they are actively exploring alternatives. The financial landscape is shifting, as countries recognize the vulnerabilities associated with dollar dependence—be it through economic sanctions, inflationary pressure, or currency fluctuations. In response to these challenges, a diversified financial architecture supported by local currencies is becoming increasingly attractive.

The BRICS nations are leading the de-dollarization effort by creating pathways that facilitate trade and investment without the USD as the main currency. By fostering collaboration among member countries, they are working to establish a more equitable economic environment that promotes domestic currencies, reduces transaction costs, and ultimately strengthens their economies.

As interest in the BRICS alliance grows, nearly 40 nations have expressed a desire to join in 2024. This wave of interest highlights a fundamental shift in the global economic order. Countries from diverse backgrounds see BRICS as a platform to amplify their voices and interests in a world dominated by the West. By joining forces, these nations aim to reshape international trade and finance, creating a more multipolar world.

The motivations behind this expansion range from the quest for economic stability to a desire for enhanced political influence on the global stage. The BRICS nations are not merely coming together out of necessity; they share a vision of sovereignty and economic resilience that resonates deeply with many developing countries.

Among the BRICS members, China emerges as a pivotal player in this tectonic shift. Analysts predict that the yuan could become a preferred alternative for countries looking to navigate away from the dollar. China’s established trade relationships across the globe position its currency as an attractive choice for international transactions and investments. The Belt and Road Initiative exemplifies China’s strategy to expand its economic influence, promoting the yuan’s use in various regions.

As countries explore using local currencies for trade and investment, we may witness a growing trend of bilateral trade agreements that eschew the dollar altogether. This could lead to a gradual but significant decline in dollar transactions, reshaping the global financial landscape.

The potential for BRICS to influence the global financial system is staggering. While it remains to be seen how quickly and effectively the alliance can implement its de-dollarization strategies, the very essence of BRICS signifies a challenge to existing norms. By prioritizing cooperation and shared economic growth, BRICS could lead to a more balanced distribution of power in global finance.

However, challenges are inevitable. The complexity of integrating diverse economies with differing fiscal policies, trade practices, and financial systems poses serious questions about the feasibility and effectiveness of a BRICS-based currency exchange. Moreover, internal political dynamics and external geopolitical pressures could either bolster or hinder the alliance’s ambitions.

The BRICS alliance represents an important milestone in the global economy, offering a new pathway for developing countries to forge their own financial destinies. As interest in BRICS swells and countries rally around the ideals of de-dollarization, the implications for the US dollar and the global economic order could be profound.

Will BRICS succeed in gaining traction, and will more countries follow this path towards economic independence? Only time will tell. As we navigate this evolving landscape, one thing is clear: The emergence of BRICS is a wake-up call for the existing global financial system, signaling the dawn of a potentially new era in international trade and finance. Stay tuned as we continue to explore the potential impact of BRICS on the global economy.

https://youtu.be/7kIONBQmgQM

https://dinarchronicles.com/2024/10/03/we-love-africa-40-countries-want-to-ditch-the-us-dollar/

“Tidbits From TNT” Thursday 10-3-2024

TNT:

Tishwash:  $3m allocated to Upgrade Iraqi Stock Exchange

As part of its financial reform efforts, Iraq's Cabinet has approved the allocation of 4 billion dinars [$3 million] to the Iraqi Securities Commission for the modernization and maintenance of electronic systems used for stock and bond trading.

The project, exempted from standard government contract procedures, will be executed in partnership with the U.S. company Nasdaq OMX.   link

Tishwash: Iraq informs the United States of the imminent start of negotiations with Kuwait

Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein announced on Thursday that negotiations between Iraq and Kuwait will soon begin to resolve outstanding issues between the two countries.

This came during his meeting in Washington with the US Assistant Secretary of State for Near Eastern Affairs, Ms. Barbara Leaf, according to a statement issued by the Iraqi Foreign Ministry, which was received by Shafaq News Agency.

During the meeting, Hussein stressed that the recent meetings between the Iraqi and Kuwaiti delegations in New York pave the way for the start of a new round of negotiations. 

He explained that dialogue is the best way to resolve pending issues, and that Iraq intends to begin these negotiations soon to reach final understandings.

Hussein also informed the United States of Iraq's efforts to address these outstanding issues, noting the Iraqi government's commitment to achieving tangible progress in these files in a way that contributes to enhancing regional stability.

For her part, Ms. Barbara Leaf expressed the United States' support for Iraq in its efforts to resolve regional crises, stressing the importance of dialogue in avoiding escalation and ensuring stability in the Middle East region.

According to the statement, the two sides agreed during the meeting on the need to continue diplomatic efforts to ease regional tensions and work to enhance joint cooperation between Iraq and the United States in various fields.  link

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

Tishwash:  Baghdad and Washington discuss enhancing joint cooperation in the fields of energy, oil and economy

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, enhancing joint cooperation in the fields of energy, oil and economy.

A statement by the Ministry of Foreign Affairs stated that Hussein met with John Bass and Jeffrey Bate on the sidelines of the ministerial meeting of the international coalition against ISIS held in Washington. During the meeting, they discussed enhancing joint cooperation in the fields of energy, oil and economy, and continuing diplomatic efforts to maintain the stability and security of Iraq. The two sides also discussed the need to protect sea lanes to ensure the export of Iraqi and Gulf oil by securing these lanes.

According to the statement, the focus was on continuing the dialogue between Baghdad, Erbil and the oil companies operating in the Kurdistan Region of Iraq to ensure the resolution of disputes related to oil exports. The security situation in the region and the repercussions of the ongoing escalation and its impact on energy and oil sources were also discussed.

The two sides stressed the importance of continuing cooperation between the United States and Iraq to ensure that the country does not get dragged into any regional escalation, and to work to confront the economic challenges resulting from regional unrest.

For his part, Ambassador Bass welcomed Iraq's participation in the tenth ministerial meeting of the international coalition against ISIS, and the strengthening of efforts to combat terrorism. link

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

Tishwash:  Baghdad and Washington discuss the need to protect sea lanes to ensure the export of Iraqi oil

Foreign Minister Fuad Hussein discussed with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, today, Thursday, the necessity of protecting sea lanes to ensure the export of Iraqi and Gulf oil.

A statement by the Ministry of Foreign Affairs received by "Al-Eqtisad News" stated that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, on the sidelines of the ministerial meeting of the international coalition against ISIS held in Washington."

He explained that "during the meeting, they discussed enhancing joint cooperation in the fields of energy, oil and economy, and continuing diplomatic efforts to maintain Iraq's stability and security."

The two sides discussed the "necessity of protecting sea lanes to ensure the export of Iraqi and Gulf oil by securing these lanes."

The statement added, "The focus was on the continuation of dialogue between Baghdad, Erbil and the oil companies operating in the Kurdistan Region of Iraq to ensure the resolution of disputes related to oil exports, in addition to discussing the security situation in the region and the repercussions of the ongoing escalation and its impact on energy and oil sources."

The two sides stressed "the importance of continued cooperation between the United States and Iraq to ensure that the country is not drawn into any regional escalation, and to work to confront the economic challenges resulting from regional unrest."

For his part, Ambassador Bass welcomed Iraq's participation in the tenth ministerial meeting of the international coalition against ISIS, and the strengthening of efforts to combat terrorism.  link

Mot: Those Practise Sessions Ain't Working out so good!!! 

Mot: .. Just aSaying !!! 

Iraq Economic News and Points To Ponder Thursday AM 10-3-24

Leave The Money Exchangers Behind You.' A Specialist Proposes A “Treatment” For The Rise In The Dollar And Makes An Appeal To The Iraqi Central Bank
 
Economy ​ 10-1-2024 |Baghdad today – Baghdad  Mustafa Akram Hantoush, an expert in financial and economic affairs, confirmed today, Tuesday (October 1, 2024), that the
 
Central Bank of Iraq’s control over banking companies does not solve the long-standing high dollar crisis in the parallel market. Hantoush told “Baghdad Today” that “the Central Bank’s control over the parallel exchange rate (the dinar against the dollar) is not linked to controlling banking companies or restricting the supply of the dollar in the Iraqi market, but rather linked to finding solutions to the demand in the local market resulting from trade in Iran and Syria with more than 10) Billions of dollars annually, and  
the solution is through a commercial platform, goods in exchange for gold or transfers to a third country in the region.”

He added, "Millions of people travel annually to countries, such as Iran, Syria, Lebanon, Turkey, and Russia, to whom dollars are not sold.
 
A solution must be found for this matter so that these travelers are not forced to obtain dollars from the parallel market, in addition to the necessity of opening easy accounts for small merchants." The economic expert stressed that
 
"the open borders with Kurdistan must be controlled, and goods such as detergents and others have very low taxes," stressing:
 
"If a solution is found to these problems, the exchange rate will stabilize immediately."
 
On the fourth of last July, the Central Bank of Iraq revealed a new mechanism for travelers to receive foreign currency (the dollar), which will be exclusively through the outlets of companies and banks at international airports, stressing that the goal of the new mechanism, which will enter into force on July 14, 2024, is The dollar reaches the real traveler and passes proper transactions, as well as facilitating travelers’ access to the dollar faster.
 
The exchange rates of the dollar against the Iraqi dinar witnessed a noticeable increase during the past months, as the selling price exceeded 150 thousand for every 100 dollars. 
 
https://baghdadtoday.news/259037-اترك-الصيرفات-خلفك.-مختص-يطرح-علاجا-لارتفاع-الدولار-ويوجه-نداء-للمركزي-العراقي.html   

Warning to Iraqis: new ways to steal your money and smuggle it abroad
 
Economy      10/01/2024 | Alsumaria - Iraq News  16,862 views  Alsumaria News - Economic
 
Through the Internet and mobile phone applications, new digital banks in Iraq are beginning to steal money and smuggle it outside the country, especially with the absence of government control over the work of those banks that do not have branches on the ground.
 
A new loophole for money theft and a shortcut for currency smuggling that requires government oversight.
 
Digital banks in Iraq are another way to smuggle currency after being exploited by banks that have been subjected to sanctions and which require government monitoring and serious action towards them.
 
Through unsupervised electronic applications, financial transfers are carried out within these applications, without the need for paperwork or financial auditing, which facilitates the transfer process and the possibility of smuggling money in huge quantities.   
 
https://www.alsumaria.tv/news/economy/501878/تحذير-للعراقيين-طرق-جديدة-لسرقة-اموالكم-وتهريبها-الى-الخارج   

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 10-3-24

Good Morning Dinar Recaps,

SWIFT SET TO BEGIN LIVE BANK TRIALS OF DIGITAL ASSET TRANSACTIONS IN 2025  

▪️Swift said banks will begin live trials of digital asset and currency transactions over its network next year.

▪️It marks the first time Swift will move beyond experimenting with blockchain transactions in testing environments to real-world settlement.

Starting next year, Swift said banks in North America, Europe and Asia will begin live trials of digital asset and currency transactions over its global messaging network, which services more than 11,500 financial institutions.

Swift has previously experimented with blockchain transactions in testing environments. However, next year’s trials will pilot an advanced version of its infrastructure capable of orchestrating real-world digital asset and currency transactions across networks for the first time, according to a statement by the firm on Thursday.

The live trials will leverage Swift’s existing global network and interlink various digital and traditional currency platforms, providing a single system for banks to transact across borders with digital and fiat currencies, the firm explained.

The trials are designed to demonstrate how financial institutions can transact interchangeably across both existing and emerging asset and currency types using their current Swift connection. 

“Global financial institutions will have the ability to use Swift’s global platform to conduct pilot transactions for the settlement of digital assets and currencies,” the firm said.

Moving from experimentation to reality
The announcement follows a series of recent experiments by Swift, working with web3 services firm Chainlink as an enterprise abstraction layer to connect its network to the Ethereum Sepolia test network. 

The experiments demonstrated that Swift could provide one single point of access to multiple public and private blockchain networks, which could also support institutions creating tokenized assets and the development of central bank digital currencies — currently being explored by 134 countries.

"For digital assets and currencies to succeed on a global scale, it’s critical that they can seamlessly coexist with traditional forms of money,” Swift Chief Innovation Officer Tom Zschach said. 

“With our vast global reach, we are uniquely positioned to bridge both emerging and established forms of value, and we’re now focused on demonstrating this in real-world, mainstream applications.”

A key aim of the trials is to address the rise of disconnected digital platforms that could hinder the widespread adoption of new forms of value, according to the firm. “While the scale is impressive, without interconnectivity between platforms, global adoption is set to remain fragmented,” Swift said.

“As new forms of value emerge, our intention is to continue offering our community the ability to seamlessly make and track transactions of all kinds of assets — using the same secure and resilient infrastructure that is integral to their operations today," Zschach added.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

RIPPLE’S CEO DROPS TRUTH BOMB ON SEC: WHY THIS LAWSUIT IS A TOTAL JOKE!

Ripple CEO Brad Garlinghouse did not mince words in a recent post about the SEC’s continued pursuit of its lawsuit against Ripple. Garlinghouse expressed deep frustration with the SEC, particularly its Chair Gary Gensler, stating that if the agency were rational, they would have dropped the case long ago. Instead of protecting investors, the SEC has damaged its credibility and reputation.

According to Garlinghouse, Ripple and the broader crypto industry have already secured victory on key issues, including XRP’s status as a non-security.

XRP’s Status is Clear, Despite SEC’s Appeal
Garlinghouse emphasized that XRP’s legal status as a non-security is now well established. Despite the SEC’s decision to appeal, Garlinghouse remains confident, calling the appeal misguided and infuriating.

He pointed out that when the SEC previously attempted an interlocutory appeal, it did not challenge XRP’s non-security status—an important legal milestone that Ripple intends to defend.

Stuart Alderoty Backs Garlinghouse’s Position
Ripple’s Chief Legal Officer Stuart Alderoty echoed Garlinghouse’s views, labeling the SEC’s decision to appeal as both disappointing and unsurprising. Alderoty described the lawsuit as an “embarrassment” for the SEC, emphasizing that the court had already rejected claims that Ripple acted recklessly.

There were no allegations of fraud, nor were there any victims or financial losses in the case, which Alderoty believes further undermines the SEC’s rationale for continuing.

SEC’s Misguided Litigation Strategy
Alderoty also criticized the SEC for what he called “litigation warfare” against the crypto industry, accusing the agency of using the courts to stall progress rather than faithfully applying the law.

Ripple is currently evaluating whether to file a cross-appeal to further challenge the SEC’s position.

Alderoty vowed that Ripple is ready to fight once again in the appellate court, asserting that Ripple is leading the charge for the entire crypto industry.

In a striking coincidence, the SEC’s Enforcement Director, Gurbir Grewal, announced his resignation just an hour before the SEC’s decision to appeal. While Garlinghouse and Alderoty did not explicitly link the two events, the timing suggests potential internal shake-ups within the SEC, further fueling speculation about the agency’s long-term strategy.

Ripple remains committed to defending XRP’s non-security status and pushing back against what they see as a misguided, and ultimately futile, attempt by the SEC to extend the lawsuit. Both Garlinghouse and Alderoty remain resolute that Ripple and the broader crypto industry will continue to prevail.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

🌍AUDIO - Jim ask - So what are you? Animal vegetable or Mineral or Human? or people?  |  Youtube 

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Militiaman: Iraq Dinar Update-Iraq Securities Exchange- Transform Iraq-Export Oil - Federal Court Guarantees -

Iraq Dinar Update-Iraq Securities Exchange- Transform Iraq-Export Oil - Federal Court Guarantees -

MilitiaMan and Crew:  10-2-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=vD9G_gPuC3w

Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-2-24

Good Evening Dinar Recaps,

MELD GOLD LAUNCHES GOLD AND SILVER-BACKED STABLECOINS ON XRP LEDGER, LEVERAGING NATIVE FEATURES

▪️The first transaction of tokenized gold and silver was made on the XRP Ledger on September 29 after Ripple and Meld Gold disclosed their collaboration months ago.

▪️According to the original plan, two stablecoins fully backed by gold and silver were supposed to be fully rolled out in the third quarter of the year (Q3 2024).

In June, CNF reported a groundbreaking collaboration between Meld Gold and Ripple that was meant to deliver fungible gold and silver assets on the XRP Ledger (XRPL). On September 29, the first transaction on the mainnet finally went through, with the subsequent rollouts expected this month, October.

🚨 JUST IN: MELD GOLD CONFIRMS TOKENIZED GOLD ON $XRP LEDGER—First transaction went through yesterday and a further rollout will happen through October.” — @meldgold 🙌Meld Gold will release two new stablecoins on XRP Ledger, backed by Gold & Silver.

 Each token will… https://t.co/HmYs3tsVnM pic.twitter.com/wAUgCaXnMM— Good Morning Crypto (@AbsGMCrypto) October 1, 2024

Drawing insight from our previous publication, the collaboration between Meld Gold and Ripple primarily sought to enable greater access, efficiency, and utility to Real-World Assets (RWAs).

The plan was to offer institutional-grade functionality and built-in features to ensure more secure, efficient, and scalable financial services and use cases.

According to our press release review, the original plan was to release two new stablecoins on the XRPL backed by gold and silver. Specifically, each token was reported to represent 1kg of these metals that leading custody providers would hold – MKS Pamp and Imperial Vaults.

 In that report, Meld Gold CEO Michael Cotton disclosed that his team is very well-versed in every component of the supply chain and would contribute massively to the expected RWA revolution.

Our team of industry experts has deep experience in every component of the supply chain, from origination, certification, and logistics, to storage and insurance.

Our passion for disrupting and advancing digital ownership is ideal for the coming RWA revolution. This is the industry, delivering the systems only they could design, to bring the physical world on-chain.

What Meld Gold Seeks to Achieve with XRPL Integration
According to Meld Gold, its offer of the world’s most accepted assets on-chain would certainly redefine the XRPL’s Decentralized Finance (DeFi) ecosystem.

With this, both new and old users would leverage the XRPL’s native features, which include Decentralized Exchange (DEX) and Automated Market Maker (AMM).

Over the years, Meld Gold has closely worked with precious metals in its quest to provide infrastructure for a successful transition of assets on-chain. According to a blog post, with the first transaction reportedly successful, the subsequent months are expected to witness additional upgrades.

This would include the “implementation of patent-pending work on minimized trust systems for connecting physical items to the blockchain.”

Utilizing blockchain technology offers significant advantages, such as immediate global accessibility, simple and secure ownership accountability, and standardized data rails for interoperability and velocity. 

A key component, often overlooked, is how the assets are connected to the blockchain and precisely how they are accounted for. Precious metals, being physical assets, always require trust, but minimizing this to only the required level is crucial.

Recently, Ripple announced that its yet-to-be-launched RLUSD stablecoin on the XRPL has reached an advanced phase, with 99% of its total supply minted. As we reported, 800,000 new tokens have been created after 100,000 tokens were generated several months ago.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

RIPPLE UNVEILS SIMPLIFIED VAULT AND LENDING UPDATES ON XRP LEDGER

▪️Ripple simplifies asset management on the XRP Ledger with updates to the Vault and Lending Protocols.

▪️Meld Gold partners with Ripple to introduce tokenized gold and silver assets on the XRP Ledger.

In a tweet, Ripple has announced significant improvements to its Vault and Lending Protocols, paving the way for more efficient and user-friendly operations on the platform. These modifications are part of a larger goal to improve asset management and lending operations in the XRP Ledger (XRPL) ecosystem, which benefits both developers and users.

Streamlined Asset Management and Lending on the XRP Ledger
According to the statement, the XLS-65d Single Asset Vault (SAV) has been significantly redesigned, reducing its structure to increase overall efficiency. The revised design removes two previously required transactions, allowing the Vault to store assets directly.

This update is designed to make asset management faster and more cost-effective for users by eliminating unnecessary processes that previously hindered the process.

Meanwhile, the XLS-66d Lending Protocol has been revised to reflect these Vault modifications. Previously, users had to go through many processes to deposit and redeem assets, but the revised protocol eliminates these extra steps completely.

This streamlined approach greatly minimizes friction for users, resulting in a more seamless lending experience inside the XRPL ecosystem.

One of the primary points mentioned by Ripple is its compliance-first strategy. Both the Vault and Lending Protocol improvements are intended to simplify and integrate Clawback and Freezing requirements.

These modifications ensure that the protocol complies with industry rules while also making it easier for users to traverse the platform. By tackling these regulatory concerns square on, Ripple hopes to boost trust in its ecosystem, particularly among institutional users looking for a compliant blockchain solution.

In addition to Ripple’s recent improvements, the XRP Ledger is evolving through collaboration and innovation. According to a prior CNF report, Meld Gold has teamed with Ripple to launch tokenized assets representing gold and silver on the XRPL.

The initial objective is to introduce two stablecoins backed by these precious metals, which will increase the XRP Ledger’s use cases. This move is a huge step forward in integrating real-world assets to the blockchain, giving consumers a concrete connection to gold and silver while remaining inside the XRPL’s decentralized infrastructure.

On the other hand, as we previously noted, Xaman Wallet version 3.0 has added a revenue-sharing model to help XRPL developers and improve the whole ecosystem.

The most recent upgrade includes several important features, including a threshold-based paradigm, universal transaction signing, and increased developer and user accessibility. These upgrades aim to make the XRPL ecosystem more accessible and developer-friendly, fostering innovation and growth.

Meanwhile, as of writing, XRP is trading at $0.6014, down 3.18% over the last 24 hours. This fall has taken XRP’s market cap back under $35 billion.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

EXPLAINED TOKENOMICS - WHAT IS TOKENOMICS AND WHY DOES IT MATTER? | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts   

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Economist’s “News and Views” Wednesday 10-2-2024

BE CAREFUL! This Is Serious - The Crash Will Be WORSE Than 2008 - Chris Vermeulen

Finance Flow:  10-1-2024

America's slowing job market is weighing heavily on consumer sentiment. The latest survey from the Conference Board reveals that Americans have become significantly more pessimistic about the current state of the U.S. economy and the future of the job market.

Adding to these concerns are exceedingly high debt levels across major global economies, increasing the likelihood of not just one but potentially multiple debt crises ahead. In the U.S., the Congressional Budget Office projects that the debt-to-GDP ratio will surpass 150% by 2034, up from the current 98%, pushing the nation's debt to its highest level in history.

Chris Vermeulen of The Technical Traders, speaking with Liberty and Finance, shares his insights on the current market, suggesting that a significant decline may be on the horizon as the stock market shows signs of topping out.

He points to several warning signals, including worsening economic data, rising unemployment, maxed-out business sales, skyrocketing credit card debt, and increasing mortgage delinquencies in both commercial and residential sectors. Vermeulen believes these are typical indicators of a Stage 3 market environment, where underlying issues begin to worsen before becoming more visible.

 More stocks are joining the S&P 500's recent surge to record highs, easing earlier concerns that the 2024 rally was primarily driven by a few giant tech companies.

The index is on pace to gain 5% in the third quarter, which ends on Monday. This time, however, optimism surrounding the Federal Reserve’s rate cuts is encouraging investors to move into regional banks, industrial companies, and other sectors poised to benefit from a stronger economy and lower interest rates, in addition to the tech stocks that have already seen significant gains this year.

Despite this positive momentum, Chris Vermeulen warns of several concerning signs that suggest the stock market is beginning to break down, even though the indexes continue to perform well. He foresees a potential correction of 30%, 40%, or even 50%, noting that the 2022 pullback of around 25% was just a precursor to what might be coming.

The Federal Reserve began its first rate-cutting cycle in four years earlier this month with a 50-basis point reduction, a move that Chairman Jerome Powell described as a measure to protect a resilient economy. According to LSEG data, traders are giving equal odds for another large rate cut when the Fed meets again in November, and they are forecasting over 190 basis points of cuts by the end of 2025.

 Several sectors of the stock market are benefiting from the expectation of lower rates and stable growth. The S&P 500’s industrial and financial sectors, considered among the most sensitive to economic shifts, have gained 10.6% and nearly 10%, respectively, in the third quarter.

Chris Vermeulen explains that even if the Federal Reserve continues to cut rates, as it did during the 2008 financial crisis, it won't necessarily save the stock market. He notes that during times of panic, investors often rush to sell their portfolios, particularly those trading on margin, which forces brokers to execute sales regardless of rate cuts.

This selling pressure, driven by fear and forced liquidations, can overwhelm any potential positive impact from the Fed's rate cuts.

https://www.youtube.com/watch?v=SWWW8UIaIA0

'I'll Cripple You': Port Workers Strike, Will Inflation Spike? | Brian Belski

David Lin:  10-2-2024

Brian Belski, Chief Investment Strategist of BMO Capital Markets, discusses the port worker strikes, escalating tensions in the Middle East, and where the S&P 500 going to close by year-end.

0:00 - Intro

1:10 - ILA dock strikes

6:24 - Inflation outlook

8:40 - Crude oil

10:49 - Middle East tensions

 13:30 - S&P 500 outlook

18:35 - Stock market valuations

 20:30 - Sector preferences

24:34 - Canadian stock market

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

Chinese Yuan Overtake US Dollar: What's Going On?

Fastepo:  10-1-2024

China has escalated its economic rivalry with the United States, this time taking direct aim at the U.S. dollar. In recent months, Chinese financial institutions have significantly increased their short positions against the American currency, betting on its decline.

Estimates suggest that Chinese banks have allocated over $100 billion toward these positions, positioning themselves to profit from any devaluation of the dollar. The strategy revolves around sophisticated financial instruments, particularly foreign exchange swaps, which allow Chinese banks to effectively "short" the dollar.

This maneuver enables these banks to benefit from shifts in currency values. In practice, Chinese institutions swap yuan for dollars at a predetermined rate. Should the dollar depreciate by the contract’s end, the American counterpart owes more yuan, generating gains for the Chinese bank.

These activities have grown substantially, with state-run Chinese banks reportedly building up more than $100 billion in short positions by 2024.

The tactic has been deployed as part of broader efforts to stabilize the yuan without exhausting China's foreign reserves. This currency strategy is driven by the mounting pressure on the yuan, which has been weakened by both the Federal Reserve's hawkish policies and a cooling Chinese economy.

By engaging in these swaps, Chinese banks have been able to secure returns during periods of market volatility, sometimes reaping returns of up to 6% for traders involved in these deals.

https://www.youtube.com/watch?v=A8Na0_SnYac

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 10-02-24

Good Afternoon Dinar Recaps,

RIPPLE ISSUES AN IMPORTANT WARNING FOR ITS UPCOMING STABLECOIN: DETAILS

▪️Ripple cautioned users to beware of fake claims that its stablecoin is live.

▪️The SEC labeled the product as an unregistered asset, adding to its ongoing legal disputes with the company.

XRP Army Beware
Earlier this year, Ripple announced it will launch a stablecoin pegged 1:1 to the American dollar. It will be called RLUSD and will be available on the XRP Ledger (XRPL) and Ethereum. According to CEO Brad Garlinghouse, the product could serve as a bridge between the cryptocurrency industry and traditional finance, while numerous analysts believe its eventual launch could positively impact XRP’s price.

Last week, Ripple’s team minted over 800,000 RLUSD on XRPL and Ethereum, representing 99% of the total supply. This caused speculation that the stablecoin is already live.

The company, though, assured it is still in the private beta testing phase. It also cautioned users to beware of dubious individuals who claim the opposite.

Numerous X users thanked Ripple for the heads up. The popular community figure Vet was among those reacting below the post, saying:

“Unfortunately, a necessary PSA. Even accounts with a gold checkmark are impersonating and scamming people. Definitely stay vigilant, and the best thing is to do nothing, don’t click any links, and wait for official sources.”

Controversy With the SEC… Again
Ripple’s plans to introduce a stablecoin caused huge excitement in the cryptocurrency space. However, it was not welcomed by everyone, with the US Securities and Exchange Commission (SEC) describing it as a “new unregistered crypto asset.”

This is not the first quarrel between the entities. To the uninitiated ones, the SEC sued Ripple in December 2020, accusing it of conducting an unregistered securities offering by selling XRP tokens. The case passed through numerous developments over the years, reaching an important milestone in August 2024.

Back then, Judge Torres determined that the sales of XRP on secondary markets to retail investors did not constitute securities transactions. Nonetheless, she ordered Ripple to pay $125 million for violating certain securities laws.

The figure represents a massive discount on the $2 billion initially sought by the regulator, causing many to declare the ruling a major Ripple victory. Both parties have until October 7 to appeal, and the SEC seems more likely to do so.

Over the past few weeks, there have been increased rumors about such a potential scenario. American lawyer Fred Rispoli, for example, thinks the chance for an appeal is 60%.

@ Newshounds News™

Source:  CryptoPotato

~~~~~~~~~

WILL ADA PRICE REACH $0.5 AS CARDANO MIDNIGHT TESTNET GOES LIVE?

The long awaited testnet for Cardano privacy protocol Midnight Network is finally out, potentially setting ADA price for new rally

▪️Cardano Midnight testnet has gone live after months of development

▪️The testnet is only available to developers for now

▪️ADA price, down in downtrend may benefit in the long term

Cardano has entered the spotlight again with the Midnight Protocol testnet, a trend that may bode well for ADA price. Per the latest update, the Midnight protocol announced that its long-awaited testnet is now live for developers.

The Cardano Midnight Testnet – Key Note To Developers
Cardano first introduced the Midnight Protocol as its privacy solution in 2023. Since then, the team has invested time in developing it in readiness for full rollout. As announced, the testnet will test out important features that can guarantee a stable Sandbox environment for the protocol.

With Midnight, developers will have the opportunity to build functional applications. While many alternative protocols exists that can offer this capability, with Midnight, user’s sensitive data are protected. The goals of the testnet are limited and it aims to create a simulation of a full mainnet launch.

To achieve this testnet function, the Cardano protocol said it “has expanded its capabilities and hardened the network’s codebase to reduce the need for regularly scheduled chain resets when upgrading.”

For developers who plans to participate in the testnet can help build applications in the sandbox environment. Beside this, they can help discover data protection capabilities, and influence the network. Ultimately, the overall enhancement will bolster Cardano as a protocol and ADA price in the long run.

@ Newshounds News™

Read more:  CoinGape

~~~~~~~~~

UK OPENS APPLICATIONS FOR DIGITAL SECURITIES SANDBOX

In January new legislation came into force in the UK supporting a five year Digital Securities Sandbox (DSS) which temporarily relaxes some legal requirements to explore new technologies including DLT experimentation. Today the Bank of England and Financial Conduct Authority (FCA) opened applications for the sandbox.

In traditional markets, trading is conducted on an exchange and settlement via a central securities depository (CSD). DLTs are designed to combine the two functions and the sandbox supports that.

The bank emphasized that the rules in the DSS are flexible, allowing the regulators to make adjustments as they learn more. Financial instruments considered in scope include equities, corporate and government bonds, money market instruments such as commercial paper and certificate of deposits, fund units and emissions allowances. Derivatives and cryptocurrencies are excluded.

The regulators published guidance, a policy statement and an application form.

“The DSS lays the foundation for market participants to realise these benefits (of digital securities) in a safe, regulated environment and importantly, puts the UK in a strong leadership position when it comes to tokenisation,” said Quant CEO Gilbert Verdian.

“With the EU having already launched its DLT pilot regime, it is vital that the UK does not fall behind in this new era of digital finance.”

That said, the DLT Pilot Regime hasn’t exactly gotten off to a flying start. More than 18 months have passed since the legislation came into force and regulators have not yet approved any applications. However, that’s expected to change soon.

Digital Securities Sandbox rule changes
The Bank of England and FCA ran a consultation for the Digital Securities Sandbox, which closed in late May.

The regulators specified activity limits for the sandbox, the topic that attracted the most feedback from the consultation.

The global asset class figures remain unchanged (for the most part). However, the limits for individual firms have become more flexible.

Regarding fund management, in contrast to other asset classes, the regulators will not impose an aggregate limit on fund tokenization activity in the DSS.

Foreign currency assets now in scope
One of the most notable changes is the expansion of scope to include other currencies, such as euros and dollars. The regulators will specify global limits for these currencies, which will be in addition to the sterling limits. However, limits on individual firms will account for all currencies.

Regarding settlement, there isn’t a lot of movement. Stablecoins are still ruled out, with central bank money settlement considered the default. The Bank of England highlighted the availability of the omnibus bank account facility (as used by Fnality) and that it’s working with industry on an RTGS synchronization settlement facility.

 It said there was a possibility of wholesale CBDC experiments, but it didn’t make any promises. Settlement in commercial bank money is allowed, although it must be justified.

With long delays for approval under the EU’s DLT Pilot Regime, the regulators outlined expected timeframes. Banks that apply now can potentially be live by February 2025. go-live will probably be November 2025 or later. Other FMIs are somewhere in between.

@ Newshounds News™

Read more   Ledger Insights

  ~~~~~~~~~

🌍 Managing Sudden Wealth Through Smart Team Building Bob Lock | Youtube

 @ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

What OPEC And BRICS Just Announced Is About To Send The Entire Energy Market Into A Frenzy

What OPEC And BRICS Just Announced Is About To Send The Entire Energy Market Into A Frenzy

Tech Revolution:  10-2-2024

These days, the world is changing fast, especially when it comes to how countries are teaming up over energy. The partnership between BRICS and OPEC+?

Yes, it's shaking things up in a major way. With countries feeling the heat from Western sanctions and scrambling for energy security, this collaboration is becoming a really big deal.

BRICS and OPEC+ hold a massive chunk of the world’s energy resources. They’re not just playing the game—they’re flipping the script on the global economy.

So, here’s the scoop: Russian President Vladimir Putin recently made waves at the Russian Energy Week forum. He basically said that Russia’s energy sector is ready to hit its targets, despite what he called “illegal” Western sanctions. He pointed out that oil and gas sales make up about a third of Russia’s total state budget.

That’s huge, especially with everything going on in Ukraine. It’s what keeps the Russian economy going. Putin also touched on how teaming up with BRICS helps balance out Western influence. He said, “Russia fulfills its obligations to supply energy resources to the global market,” which shows how Russia is trying to stabilize things through groups like OPEC+ and the Gas Exporting Countries Forum. He made it clear that Russia is sticking close with OPEC+ oil producers, standing strong together against outside pressure

Despite the sanctions, Putin mentioned that 90% of payments for Russian energy exports come from “friendly” countries that haven’t slapped on sanctions. This really shows why a new energy strategy is needed, and he hinted that one could be coming soon to handle this changing landscape better.

Türkiye is really making moves in the BRICS alliance, and President Recep Tayyip Erdoğan is all in on it. He’s excited about the potential Türkiye could tap into by getting involved with groups like BRICS and ASEAN.

Erdoğan thinks this could shake up the regional landscape and maybe even kick off a new geopolitical structure. He also highlighted Türkiye’s strong connections with countries across Europe, Central Asia, and Africa.

Frustrated with how slowly things are moving in terms of joining the European Union, Türkiye has officially applied to join BRICS. Erdoğan is optimistic that this membership could open up fresh opportunities for economic cooperation and partnerships, especially beyond its usual Western allies.

 If Türkiye does get into BRICS, it could really boost the bloc’s influence, thanks to Türkiye’s strategic location and deep historical ties. BRICS just got a major upgrade!

 Now with new members like Iran, the UAE, Ethiopia, Egypt, and Saudi Arabia, the group is packing some serious power on the global energy stage. With these additions, BRICS now controls 42% of the world’s oil and gas reserves and a massive 72% of the world’s rare earth metals.

 That’s a serious chunk of the world's critical resources! This kind of control means BRICS isn’t just a big player in energy anymore—it’s now a force to be reckoned with in industries that depend on rare earth metals and coal too.

This dominance gives BRICS the power to influence resource markets and challenge the rules that have been set by traditional Western institutions. The implications of this are huge, as BRICS positions itself as a real alternative to the usual economic heavyweights.

As BRICS continues to grow, it’s shaping up to be a solid alternative to the usual Western institutions like the World Bank and IMF. This group is all about pushing for a different economic model—one that’s focused on fair development and spreading resources more evenly.

And with the BRICS development bank in play, there’s potential for countries to find new financing options that help them sidestep traditional Western financial systems. That could be a total game-changer! You can really see the global power shift as BRICS starts making moves in the resource markets.

With such a huge chunk of the world’s energy resources under its belt, BRICS can score some great deals for its members. There’s even talk about BRICS exploring non-dollar transactions, which could seriously shake up the global economy and challenge the dominance of the U.S. dollar in international trade. If that happens, we’re looking at a major geopolitical shift!

https://www.youtube.com/watch?v=8o3IhI-Vc1M

“Tidbits From TNT” Wednesday Morning 10-2-2024

TNT:

Tishwash: Economist outlines financial options as oil declines...and warns

An economic expert revealed the options available to the Ministry of Finance if oil prices continue to decline.

Salah Nouri told Al Furat News Agency: "The decrease in the selling price of exported oil affects the Ministry of Finance's commitment to financing the (current and investment) budget."

He explained that "the options before the Ministry of Finance are either to proceed with implementing the budget paragraphs, which means increasing domestic borrowing, which in turn affects the liquidity of government banks and the employees' pension fund, which are the lending entities, or to reduce funding for investment projects and some paragraphs of the current budget."

He warned that "reducing funding and spending leads to economic recession."

Nouri continued, "From a psychological and behavioral perspective, citizens with limited incomes fear the further decline in prices, which leads to a reduction in their monthly spending."  link

Tishwash:  National Union: We are working to activate Article 140 to serve the disputed areas

The Patriotic Union of Kurdistan confirmed that it is working to support and assist the disputed areas and is working to resolve this issue in accordance with the permanent Iraqi constitution.

The Patriotic Union of Kurdistan announced, within the program of List 129 for the Kurdistan Parliament elections, several points to serve the disputed areas, which are working to activate Article 140 of the permanent Iraqi constitution and implement all its paragraphs, in addition to  normalizing the security, military and political conditions in the disputed areas that are going through abnormal conditions due to the repercussions of the referendum.

The Patriotic Union stressed that it insists on the share and entitlement of the Kurds, according to the election results, in the administration of those areas and the continuation of assistance to service institutions in the disputed areas, especially the Kurdish areas that were neglected by the administrations imposed on those areas and support for Kurdish studies in those areas and the acceptance of a good number of students in the universities of the region and  support and assistance to Kurdish cultural, artistic and sports institutions in the disputed areas. link

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

Tishwash:  Banking Advisor: Government Committed to Opening New Horizons for Partnership with Investors

Wissam Al-Mulla the Prime Minister's representative and advisor for banking affairs, Saleh Mahoud, confirmed today, Tuesday, the government's commitment to supporting the Securities Commission and opening new horizons for partnership with investors, calling on the legislative authority to accelerate the issuance of the necessary legislation to meet the requirements of the modern market and enhance the investment environment in Iraq.

"It is a great honor to represent Prime Minister Mohammed Shia al-Sudani in this event organized by the Securities Commission," Mahoud said at the World Investor Day conference, which was attended by the Iraqi News Agency (INA) correspondent. "This conference represents a vital platform to strengthen ties between the government and investors and highlights investment opportunities available in Iraq,"
he added. "The world today lives in an era characterized by rapid economic changes, which requires activating the role of the securities sector as a major tool to stimulate economic growth," he added, adding that "the Iraqi government headed by Mohammed Shia al-Sudani is fully aware of the importance of this sector as a lever for growth and attracting local and international investments."

He pointed out that "global experiences have proven that investments are not only an engine for growth, but also a means to develop infrastructure, create jobs, and enhance transparency and efficiency in resource management," considering that "the Securities Commission is a vital partner in achieving these goals, as it works to regulate markets and enhance their protection.

" Mahoud stressed "the importance of cooperation between the public and private sectors," emphasizing that "the success of investments depends on investment partnerships that contribute to mitigating risks and increasing confidence."
He explained that "there is an urgent need to accelerate the issuance of the necessary legislation to update the legal system to suit the requirements of the modern market, as there must be clear mechanisms to protect investors and facilitate investment procedures, which contributes to improving the business climate in the country."

He pointed out, "the importance of strengthening corporate governance, as building a strong governance system is vital to ensuring transparency," stressing, "Investors must feel that their money is protected and that there are effective mechanisms to monitor performance."
Mahoud called for "focusing on education and awareness, as building human capacities and developing skills in the financial sector contribute to creating an attractive investment environment," stressing, "the importance of holding training programs and workshops targeting investors, bankers and government agencies."

He stressed, "the commitment of the Iraqi government and Prime Minister Mohammed Shia al-Sudani to providing support to the Securities Commission and opening new horizons for cooperation and partnership with investors," considering that "this conference is an important step towards building a prosperous and sustainable Iraqi economy."  link

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

Tishwash:  Iraq's 2025 budget: Will the government deliver on its promises amid growing crises?

As the date for discussing the 2025 budget schedules in Iraq approaches, many questions are being raised about the government’s ability to meet its financial obligations amidst the growing crises. The Parliamentary Finance Committee, headed by its member Mohammed Nouri, confirmed that employees’ salaries are fully secured until the end of this year, but can these statements be relied upon in light of the current economic situation?

Despite the committee’s assurance that there is no delay in paying salaries, many question the government’s ability to address the delay in funding provincial allocations and ongoing projects. Development projects in Iraq have become underfunded, hampering efforts to develop infrastructure and improve basic services.

Moreover, reports indicate that the Iraqi government is facing significant challenges in balancing its financial obligations with dealing with economic variables, such as oil prices and inflation. While the Finance Committee hopes to launch project packages in the coming days, the question remains: Will these measures solve the current crises or will they worsen over time?

Responding to citizens’ needs and achieving sustainable development requires a comprehensive plan that goes beyond merely approving annual budgets. At a time when the Iraqi street is demanding improved services and job opportunities, the Finance Committee and the government appear to be in a race against time to ensure the country’s financial stability.

The situation remains as it is: statements confirming commitment, but the facts on the ground indicate otherwise. The government will have to face pressure from the street and increasing demands in the coming period, especially with the approach of elections and growing frustration among citizens. Will the government be able to strike a balance between pledges and reality? The coming days will reveal that.   link

Mot: .. * New month alert *

Mot: .. The actual size of bears.