“Tidbits From TNT” Thursday Morning 12-12-2024

TNT:

Tishwash:  Government advisor: Tighter controls on suspicious money transfers reduce exchange rate manipulation

12/11/2024

Baghdad - WAA - Nassar Al-Hajj

Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Wednesday, that tightening control over suspicious financial transfers reduces manipulation of exchange rates and the stability of the national currency, while indicating that limiting speculation reduces the use of foreign currencies in unproductive operations.

Salih said in a statement to the Iraqi News Agency (INA): "The Prime Minister's directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators, which remain of great importance in enhancing currency stability and reducing speculation that is harmful to the national economy, through mechanisms leading to combating illegal speculative activities, including specifically: tightening control over suspicious financial transfers that conflict with the rules of compliance and transparency in a manner that reduces illegal activities, such as money smuggling or manipulation of exchange rates, which maintains the stability of the value of the national currency."

He added that "taking strict measures against speculators and manipulators in the currency market strengthens confidence in the financial system and demonstrates the strength of government policy in protecting the national economy, and increases the confidence of citizens and investors in the country's financial system, in addition to directing resources towards the real economy to invest in the available opportunities in it, whether industrial, agricultural or service," noting that "by limiting speculation, the use of foreign currencies in unproductive operations is reduced, which helps to provide them to finance imports or beneficial investments."

He continued that "the protective measures against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illegitimate gains, which enhances the stability of the local market."

Saleh explained that "the importance of limiting speculation and speculators' opportunities remains in enhancing the efficiency of the banking system through the role of monitoring financial transfers, which undoubtedly contributes to revealing the loopholes in the banking system and enhancing governance and transparency in it, as such measures are in line with the comprehensive reform plan for the financial and banking sector, and aim to enhance financial stability and prevent violations that negatively affect the national economy."   LINK

Tishwash:  Al-Hakim: Kirkuk will get its due in the 2024 budget

The head of the National Wisdom Movement, Ammar al-Hakim, held a press conference in Kirkuk on Wednesday, during which he confirmed that support for the governorates will be present in the 2024 budget and Kirkuk will receive its due share.

Al-Hakim said during the conference, during his meeting with a number of members of the provincial council, heads of administrative units, directors of service departments, and security leaders in the province, in the presence of Governor Ribwar Taha, his deputies, and the head of the provincial council, Engineer Muhammad Ibrahim Al-Hafez, that “Kirkuk is an icon of Iraqi coexistence and the key to consolidating national unity.”

He stressed the "importance of administrative decentralization and the powers of local governments as a guarantee for the unity of Iraq," calling for "abandoning the rentier state and activating productive sectors."

He added, "Kirkuk is a model of coexistence and is prepared to activate agriculture, industry and tourism," indicating that "support for the governorates will be present in the 2024 budget and Kirkuk will get its due share."

He called for “fighting corruption, supporting youth, and spreading positivity,” stressing that “improving services enhances confidence in the political system and fortifies the country,” noting “restoring the powers of local governments according to the constitution and working to facilitate citizens’ transactions.”

Al-Hakim praised the “zeroing of Kirkuk’s stalled projects and stressed the importance of investing in health and education,” adding that “diversifying the economy is the solution to confronting the challenges of population growth.”  link

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Tishwash:  Parliament and government.. a race with the 2025 budget

The 2025 budget schedules in Iraq are witnessing a delay that is causing widespread controversy between the government and parliament, as the government has not yet sent the full details of the budget to the House of Representatives, which has raised concerns among members of the parliamentary finance committee about the deadline for approval. 

The statements indicate that the reasons for the delay are related to reviews of financial schedules, especially those related to oil extraction expenses in the Kurdistan Region and the costs of projects funded in 2025.

The Financial Management Law requires the government to submit the general budget to the Council of Representatives 45 days before the beginning of the fiscal year, in order to allow the necessary time to discuss and approve it. Despite the clarity and explicitness of the legal text, no Iraqi government, including the current government, has committed to implementing this entitlement.

Speaking about this file, member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, revealed the existence of legal and constitutional violations by the government in sending the budget law to the House of Representatives.  

Al-Karawi said in a statement to Al-Maalouma Agency, “Article 77, paragraph two of the Federal Triennial Budget Law indicated that the government must send the budget tables before the end of the fiscal year,” indicating that “the government sent only one amendment to the text of the budget, which is the text of Article 12 related to the costs of extracting oil in the region.” 

He added, "Not sending the schedules on time is considered a legal and constitutional violation, and if the government proceeds with amendments to the articles, there are many articles that need to be amended and to be fair to many groups," adding, " We recorded all of these observations in the session last Tuesday during the first reading of the amendment to the budget law.” 

He explained that "his committee is working on re-amending the budget and sending it to the government to work on general amendments to the law so that it is fair to all segments of society and addresses the problems in the previous budget." 

In addition, a member of the Parliamentary Finance Committee, Hussein Mounes, revealed that the budget amendments are subject to political amendments, not technical ones. 

In a statement to Al-Maalouma Agency, Mounes said, “The government has a point of view in resolving the issues with the region and limiting oil smuggling operations by increasing production costs by $16 per barrel.” 

He added, "During the discussion of the proposal, we raised several questions: Why was $16 set? Is it a technical or political consensus number?"

He pointed out that "the Parliamentary Finance Committee hosted the concerned parties and they confirmed to us that the issue is political and not technical."

He explained that "the government's proposal is to form an advisory body, and in the event of non-compliance, a committee of consultants will be formed to determine production costs."

He pointed out that "the Finance Committee determined that the amount would be an advance granted to the region and that a settlement would be arranged later." 

He added, "There are approximately 256 thousand barrels smuggled daily from the region with OPEC's permission. This file must be closed because it negatively affects government production," stressing that "the Finance Committee has reservations regarding the advances and loans granted to the region. "

It is noteworthy that the House of Representatives previously hosted Prime Minister Mohammed Shia Al-Sudani and his deputies, the Minister of Planning, the Minister of Foreign Affairs, and the Minister of Interior, where the amendments to the budget for next year 2025 were discussed .  link

Tishwash:  The Iraqi Parliament... Frustrates Iraqis and Causes Huge Financial Losses

The Iraqi parliament ended its second legislative session without being able to pass any of the pending controversial laws, despite extending its sessions for an additional month to try to resolve these sensitive issues.

At the forefront of these laws are the general amnesty, personal status, state real estate, and the vital amendment to the general budget law, which is seen as a renewed dilemma affecting the resumption of oil exports from the Kurdistan Region.

These issues reflect the deep-rooted differences between political parties, where factional, sectarian and national interests appear to be a solid barrier to any common understanding.

According to an informed political source speaking from Baghdad, “the delay in passing the laws was not due to the complexity of the texts as much as it was a direct result of party directives that prompted some representatives to deliberately miss sessions in order to disrupt the legal quorum.”

The source added that these directives are linked to what he called “rearranging political alliances” that precede any influential vote.

Citizen Ahmed Al-Saadi, an activist from Basra, commented in a Facebook post saying: “The House of Representatives lives in a parallel world; it discusses matters that concern its interests while the citizen suffers from crises in services and the economy. The budget is faltering, oil exports have stopped, and millions are being lost every day.”

A similar tweet on the X platform described the situation as “legislative chaos that reflects the collapse of the concept of the state in favor of the concept of class and party.”

The election of Mahmoud al-Mashhadani as the new speaker of parliament has sparked great controversy. Analysts have suggested that this change reflects an attempt to restore the image of the legislative institution, but the same analyses have not ruled out that the issue could turn into a mere change in names without achieving a fundamental change in performance.

Social researcher Ali Al-Jubouri said: “This election is like trying to treat a deep wound with a simple bandage. The problem lies in the quota structure that turns positions into fixed shares for parties and sects.”

On the other hand, obstructing the amendment related to the budget law will cause the state huge losses.

According to economic information published by a local financial institution, stopping oil exports from the Kurdistan Region costs Iraq more than $8 million per day, deepening the financial crisis for both the federal state and the region.

Kurdish citizen Saman Abdullah from Erbil spoke in a video clip he posted on Facebook, saying: “Political differences do not only harm Baghdad, but we in the region are paying the price directly. Employee salaries are delayed, and prices are rising without control.”

An analysis by economic expert Fadhel Al-Dulaimi explained that the crisis could become more complicated if it is not resolved in the coming months.

Al-Dulaimi said: “Without an agreement on the budget law and oil exports, the economic situation may explode, especially with the increase in debts and the decrease in cash reserves.”

The atmosphere inside the parliament is described as gloomy, according to what a citizen named Iman Al-Taie said on her X account, where she said: “The representatives are exchanging accusations via media platforms, while we have not seen any practical steps yet. Everyone blames everyone else, but it is the people who pay the price.”

Thus, the Iraqi parliament remains stuck in a vicious circle of disagreements, as its sessions turn into an arena for settling political scores instead of resolving crises. Analysts expect that this situation will continue as long as sectarian and nationalist quotas govern the state’s scene.  link

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Tishwash:  Strengthening Iraq’s position”: Praise for Al-Sudani and Al-Halbousi’s regional and international moves

Political analyst, Aid Al-Hilali, praised today, Wednesday, the regional and international moves made by Prime Minister Mohammed Shia Al-Sudani and the head of the Progress Party, Mohammed Al-Halbousi, to enhance Iraq's position and have a role in shaping the region's policies in the future.

Al-Hilali told Al-Jarida, “Iraq, with its careful and balanced stance, has gained the respect and appreciation of the regional and international environment, and the moves made by the Prime Minister at various levels in the issue of openness to the Arab and international environments come in order for Iraq to have a role in shaping the region’s policies in the future. This is a result of Iraq’s great recovery and the agreements and partnerships signed by the Iraqi government with countries of the world, and these connections have great effects on Iraq’s position.”

He added, “There are also political parties that have worked to open channels for dialogue, especially with the United States of America, and one of these figures is Mohammed al-Halbousi, who returned the visit to America and was well received there. This visit received different reactions, between those who welcomed it and those who doubted it, but it seems that al-Halbousi’s visit is in the interest of Iraq and the Iraqi government and greatly supports the position of the Iraqi government.”

He pointed out that “Al-Sudani’s visit to Jordan today and before that his contact with the Emir of Qatar confirms Iraq’s firm and steadfast position and strengthens its position and makes it steadfast in its position, and this stance will be credited to Iraq and Al-Sudani, and despite some political leaders issuing irresponsible statements, Al-Sudani’s rationality, calmness and balance were positively reflected in Iraq’s position.” link

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MilitiaMan & Crew-Iraq Dinar News-Kurds-Baghdad-Salaries-Budget Law-Auction Deadline Sunday- Currency-Article 12

MilitiaMan & Crew-Iraq Dinar News-Kurds-Baghdad-Salaries-Budget Law-Auction Deadline Sunday- Currency-Article 12

12-11-2024

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=IY_dGTrWwRQ

Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-11-24

Good Evening Dinar Recaps,

US DEMS CHOOSE LEADERSHIP FOR COMMITTEES CRUCIAL TO CRYPTO POLICY

Republican lawmakers are also expected to choose leadership roles for Senate and House committees soon.

Democratic lawmakers have selected ranking members of key committees going into the 119th United States Congress as the party prepares to be in the minority.

In a Dec. 11 notice, Democrats said California Representative Maxine Waters would continue to serve as the ranking member of the House Financial Services Committee into 2025 as the new Congress is sworn in.

The House committee is responsible for legislation and policies affecting the financial services sector, including the cryptocurrency industry.

North Carolina Representative Patrick McHenry, a Republican, will chair the committee until Jan. 3, when he will leave office. Representative Waters has been acting as the committee’s ranking member — the highest leadership position for a party in the minority — since January 2023, when Republicans took a majority of seats in the House.

With McHenry’s impending departure, a few Republicans are under consideration as the next committee chair, including digital assets subcommittee chair French Hill. Lawmakers in the party are expected to decide on leadership positions in the next seven days.

Republicans will take control of the banking committee

With Democrats also losing their majority control of the Senate in January, the party is restructuring its roles for other committees impacting crypto policy. Massachusetts Senator Elizabeth Warren announced after winning her election against Republican John Deaton that she would be the ranking member of the Senate Banking Committee.

The banking committee provides oversight of the US Securities and Exchange Commission and regulators relevant to the crypto industry. Ohio Senator Sherrod Brown, a vocal digital asset skeptic who lost his reelection bid to Republican Bernie Moreno, will chair the committee until January.

Senator Tim Scott, the current ranking member of the banking committee, is poised to be the next chair. The South Carolina lawmaker said at the Bitcoin 2024 conference in July that he would support pro-crypto legislation as chair if Republicans won a majority in the chamber.

Committee providing oversight of CFTC also changing hands

In the Senate Agriculture Committee, currently chaired by Democratic Senator Debbie Stabenow and Republican John Boozman as the ranking member, there is also expected to be a shakeup in leadership following the results of the 2024 election.

Senator Stabenow announced in 2023 that she intended to retire at the end of her term, leaving the door open for Democratic Senator Amy Klobuchar to potentially replace her as ranking member of the committee starting in January. Boozman is also expected to step up as chair.

The agriculture committee has oversight authority of the Commodity Futures Trading Commission, one of the agencies responsible for regulating aspects of the crypto industry. If the Financial Innovation and Technology for the 21st Century Act is signed into law in the next Congress, the CFTC could have more significant influence over digital assets than the SEC.

@ Newshounds News™

Source: CoinTelegraph 

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CRYPTO NEWS INDIA: DIGITAL RUPEE TO TRANSFORM PAYMENTS, SAYS OUTGOING RBI GOVERNOR

▪️Outgoing RBI Governor envisions CBDCs replacing paper money for efficient transactions.

▪️Shaktikanta Das calls for careful phased rollout after sufficient research and user data.

▪️Digital rupee expansion targets instant settlements with Asian and Middle Eastern partners.

India is stepping into a new era of finance with the introduction of the digital rupee, a Central Bank Digital Currency (CBDC). Retiring Reserve Bank of India (RBI) Governor Shaktikanta Das recently shared his vision for this groundbreaking currency and how it could reshape the country’s economy.

A Vision for Change

In his farewell speech on December 10, Das spoke about the digital rupee’s potential to revolutionize payments in India. He explained that it could reduce dependence on paper money and make transactions faster and more efficient.

“The RBI, among the central banks, is a pioneer,” Das said, highlighting the institution’s leadership in CBDC development.

India has already taken significant steps toward adopting the digital rupee. The RBI has launched pilot projects, placing India ahead of many countries still in the testing phase. These pilots mark India as a global leader in exploring the possibilities of CBDCs.

Careful and Steady Rollout

Das thinks CBDCs could be very helpful, not only for payments in India but also for transactions between countries. While Das expressed excitement about the digital rupee’s future, he emphasized the need for a slow and steady rollout. He stressed the importance of conducting more research to ensure the currency integrates smoothly into the economy.

Beyond its use in domestic payments, Das also highlighted the digital rupee’s potential for international transactions. He pointed out that India’s payment platform already supports countries like Sri Lanka, Bhutan, and Nepal, laying the groundwork for cross-border CBDC adoption.

New Leadership, New Challenges

As Sanjay Malhotra steps in as the new RBI governor, markets are watching closely to see how he navigates India’s financial challenges. With inflation and economic growth at the forefront, Malhotra’s decisions will play a crucial role in shaping the digital rupee’s future and driving India’s financial transformation.

Under strong leadership and with careful planning, the digital rupee has the potential to revolutionize the way India—and eventually the world—handles payments and transactions.

@ Newshounds News™

Source:  Coinpedia

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HIDDEN TRUTH ABOUT LAND DEEDS  |  YOUTUBE

Mason, Amy, and Lowtide share information about deeds.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Iraq Economic News and Points to Ponder Wednesday Afternoon 12-11-24

Identifying The Most Prominent Ways To Reduce “Manipulation” Of Exchange Rates And Stabilize The National Currency

 December 11, 2024 Baghdad/Iraq Observer  Today, Wednesday, Advisor to the Prime Minister, Mazhar Muhammad Saleh,  revealed ways to
 
     reduce manipulation of exchange rates and
     stabilize the national currency, while stressing the
     reduction of the use of foreign currencies in unproductive operations.

Saleh said in a statement to the official agency and followed by “Iraq Observer”:
 
“The Prime Minister’s directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators.
 
This remains of great importance in
 
     enhancing currency stability and
     reducing harmful speculation in the national economy, through mechanisms.” Leading to
     combating illegal speculative activities, including specifically:
     tightening control over suspicious financial transfers that conflict with the rules of
     compliance and transparency and in a way that
     reduces the activities. Illegal acts, such as money smuggling or manipulation of exchange rates, which
     maintains the stability of the value of the national currency.” He added,
 
 “Taking strict measures against speculators and manipulators in the currency market
 
     strengthens confidence in the financial system and
     demonstrates the strength of government policy in protecting the national economy, and
     increases the confidence of citizens and investors in the country’s financial system, as well as
     directing resources towards the real economy to invest in the opportunities available in it, whether industrial.” Or agricultural or services,” pointing out that
 
“by limiting speculation, the use of foreign currencies in
 
     unproductive operations is reduced, which
     helps save them to finance imports or beneficial investments.” He continued,
 
“The measures to protect against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illicit gains, which enhances the stability of the local market.”

Saleh stated that “the  importance of reducing speculation and the opportunities of speculators remains to
 
     enhance the efficiency of the banking system through the role of
     monitoring financial transfers, which undoubtedly contributes to
     revealing the gaps in the banking system and
     enhancing governance and transparency in it, as
 
such measures
 
     are in line with the comprehensive reform plan for the financial sector.” and banking, and aims to
     enhance financial stability and
     prevent violations that negatively affect the national economy.” https://observeriraq.net/تحديد-أبرز-طرق-تقليل-التلاعب-بأسعار-ا/   

What Is The Relationship Between Gold Imports And Dollar Smuggling In Iraq?
 
Economy | Yesterday, 13:02 | Baghdad today – Baghdad Economic affairs specialist Ahmed Al-Tamimi confirmed today, Wednesday (December 11, 2024), the  use of  gold import operations in operations to smuggle the dollar out of Iraq.
 
Al-Tamimi said, in an interview with “Baghdad Today,” that “recently, there have been more gold imports by the Emirates and Turkey than in previous periods, and  this indicates the existence of operations to smuggle the dollar through such import operations, especially since the dollar for these operations is done through the official price.”
 
Through a special platform, this brings huge profits to some of these smugglers.” He stressed that  
"there must be strict controls on importing gold from abroad, and imports must be according to specific weights as well as time frames between one operation and another.
 
This matter may lead to tightening American measures again on the dollar in Iraq, as  
this matter is an indicator of smuggling operations through... Importing gold, and even 
Iraqi government agencies are aware of this, and they are working to limit it during the next stage.”
 
In a related matter, independent MP Kazem Al-Fayad confirmed, on Friday (October 25, 2024), the existence of companies working to smuggle currency abroad in many illegal ways. Al-Fayyad told Baghdad Today:
 
 “There are fake companies in Baghdad and the rest of the governorates that work to smuggle currency.
 
There are also non-fake companies that also work to smuggle work in many different illegal ways, and  
some of them were revealed by the competent authorities during the past periods.”

He stated,  “Despite the tightening of security and oversight by the Central Bank and other arties,  these companies are still working to smuggle currency, and  this is considered the most prominent reason for the continued rise of the dollar in the parallel market, significantly above the official price, and  some of these companies are affiliated with influential parties and figures.”
 
"It takes advantage of this matter in its illegal operations."
 
On Sunday (August 18, 2024), the Parliamentary Security and Defense Committee revealed the secrets of 6 specific strikes by what it called hard currency smuggling mafias in Iraq.
 
Committee member Representative Yasser Iskandar Watut told Baghdad Al-Youm,
 
“Smuggling hard currency in all its forms  is a drain on the country’s economic capabilities and  leads to pressure on the markets by raising exchange rates which leads to an increase in prices.”

Watout added,  “There are efforts being made, some of which are exceptional, through the reports we receive that reflect the continued implementation of a series of strategies to reduce the smuggling of hard currency, which has been controlled by up to 80% in recent months through the efforts of the Ministry of Interior and its formations with the Central Bank, which have achieved results.” positive in this regard.

He pointed out that   “six operations that took place in the past months represent qualitative strikes against the hard currency smuggling mafias in Iraq, and they bore fruit.” He explained,
 
“But has smuggling ended completely?
 
The answer is no, and efforts are continuing to end these illegal acts, which are carried out with complexities that require intense and multiplied work from before the competent authorities.   
 
https://baghdadtoday.news/263738-ما-علاقة-عمليات-استيراد-الذهب-بتهريب-الدولار-في-العراق؟.html   

The Governor Of The Central Bank Of Iraq Receives A Delegation From The International Finance Corporation
 
December 11, 2024    His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
received a delegation from the International Finance Corporation, which included the director of the institution’s financial sector in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zaghir, the resident representative in Iraq, the financial investment officer, and the head of the advisory department.

During the meeting, they discussed    strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of  
     cooperation between local banks and correspondent banks with technical support from the institution, and the  
     development of Islamic banks operating in Iraq, as well as the 
     banking reforms that the bank is carrying out in cooperation with the concerned authorities, especially the restructuring of government banks.

The  role of international companies working in this field (Ernst & Young and Oliver Wyman).
 
His Excellency the Governor discussed the proposal to establish a leasing finance company  with local and foreign contributions,
 
which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as
 
     industrial machinery and equipment,
     vehicles, offices, and
     warehouses.

This proposal supports
      emerging projects and
     small and medium-sized companies that are looking for easy financing. And flexible.
 
The meeting discussed the importance of launching Riyada Bank during the next year, which will support projects with small and medium loans, in line with the government’s vision of supporting graduates and entrepreneurs and developing labor markets. Central Bank of Iraq     Media office     December 11, 2024   https://cbi.iq/news/view/2733  
    
  For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Danielle DiMartino Booth: The Recession the U.S. Needs is Already Underway

Danielle DiMartino Booth: The Recession the U.S. Needs is Already Underway

Palisdes Gold Radio:  12-11-2024

Tom Bodrovics engages in a discussion with Danielle DiMartino Booth, CEO and Chief Strategist for QI Research, former Fed Insider, and author of the book "Fed Up."

Danielle stresses the importance of monitoring private sector actions, particularly in 2025 due to recent job losses and the significance of shelter inflation's impact on the Federal Reserve. She highlights an upward trend in unemployment rates and potential recession expectations, but does not believe one is necessary.

The conversation touches upon central bankers' confidence bubble and its implications for the current economic climate.

They also delve into commercial real estate markets and the potential repercussions on banks and markets. Serious concerns in this sector have led to double defaults on commercial mortgage-backed securities, with regulators putting pressure on credit rating agencies not to downgrade them.

Tom also inquires about other financial burdens, such as rising unemployment, falling house prices, and mortgage delinquencies, which contribute to significant household financial pressures.

Canadian banks have announced larger losses but maintain they are contained. Banks attempt to slow charge-offs by modifying loans and extending terms, but this approach has limitations due to the possibility of re-default.

Danielle concludes the conversation by encouraging listeners to maturely face sacrifices and embrace long-term benefits that come with cutting government waste.

Time Stamp References:

0:00 - Introduction

0:44 - The Economy & Stats

 2:49 - Unemployment & Layoffs

 3:38 - Powell & Trump

 4:37 - Revisions & Recession

6:25 - Bankruptcies & Rates

8:13 - C.B. Confidence/Hubris

 11:22 - Dollar Strength & Trump

14:57 - Inflation Thoughts

16:47 - Housing Confidence

 19:38 - Commercial Real Estate

20:57 - Consumers & Banking

22:37 - Safe Assets & Dividends

24:14 - Buy Now Pay Later

? 26:42 - 2025 and Gov't Spending

27:49 - Wrap Up

Talking Points From This Episode

Danielle emphasizes investors monitor private sector actions amid job losses, shelter inflation, and potential recession concerns.

Concerns center around Central bankers' 'confidence', commercial real estate risks, and household financial pressures.

DiMartino cautions listeners that Trump cuts may require short to medium term sacrifices to gain long-term benefits.

https://www.youtube.com/watch?v=Wj7vTzWfxOI

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 12-11-24

Good Afternoon Dinar Recaps,

ICMA ISSUES DLT BONDS REFERENCE GUIDE

Today the International Capital Market Association (ICMA) published a reference guide for DLT based digital debt, or digital bonds. While it describes it as 50 practical questions, the figure is closer to three times that. Despite that, for those familiar with the topic it’s a quick read and provides an excellent planning and execution guide.

The document is the product of ICMA’s DLT Bonds Working group, which is chaired by Union Investment’s Christoph Hock.

“The token economy, and DLT-based bonds in particular, have become increasingly more relevant in recent months,” said Mr Hock, alluding to the recent Eurosystem wholesale DLT settlement trials in central bank money which helped to ramp up activity.

He continued, “Where currently we see a high degree of fragmentation across the value chain, we look forward to greater collaboration and standardisation, which will play a key role in further building the token universe. With its DLT Bonds Reference Guide, ICMA and all involved parties have made a great step in this direction.”

As an asset manager, Union Investment has been one of the most prolific investors in digital bonds, starting with the European Investment Bank’s (EIB) inaugural bond back in April 2021. The EIB has now issued six digital bonds, including two in November as part of the ECB DLT settlement trials.

The guide is a little biased towards Europe, but that’s where the vast majority of issuances have taken place, particularly in Germany and Switzerland. For Europe, Luxembourg is the legal jurisdiction of choice. There have been hardly any issuances in North America, partly the result of custody issues with the SEC’s SAB 121.

In February Hong Kong issued a multi currency bond of more than $750 million, the largest DLT bond to date. However, Germany’s KfW has issued two larger digital bonds totalling €8 billion on Clearstream’s D7 platform.

Technically, as they used a CSD, under German law the KfW bonds are not ‘crypto’ bonds. That’s despite D7 using Digital Asset’s Canton infrastructure. These sorts of questions are included in the reference guide.

ICMA also collaborated with the Monetary Authority of Singapore on the Guardian Fixed Income Framework published last month.

@ Newshounds News™

Source:  Ledger Insights

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'CONSUMERS EXPECT IMMEDIATE AND EFFICIENT TRANSACTIONS': TOKENIZATION GAINS MOMENTUM

▪️Tokenization is merging traditional finance and blockchain, creating new opportunities for financial innovation.

▪️Panelists discuss regulation and future potential.

Integrating real-world assets into blockchain systems opens new possibilities in the digital asset space. At the recent Benzinga Future of Digital Assets event, panelists explored the intersection of traditional finance and blockchain, highlighting how tokenization creates opportunities for financial innovation and accessibility.

Bridging the Old and New

Panelist Robert Leshner, CEO of Superstate, emphasized the potential of tokenization to merge conventional financial markets with blockchain technology. “We're seeing firms like Superstate act as bridges between the two by taking traditional assets, creating a token, and moving them on-chain,” Leshner said. This shift is beginning to blur the lines between digital and traditional financial systems.

Emma Marriott, co-founder of Atomic, also noted the increasing demand for streamlined integration. "Consumers expect immediate and efficient transactions," she said, pointing to Atomic's role in enabling smooth transitions between traditional and digital asset platforms. "We're helping firms expand their offerings to meet these expectations, whether they're moving from crypto to traditional assets or vice versa."

Driving Institutional Interest

Institutional players closely watch these developments, particularly how tokenized assets can enhance portfolio diversification and liquidity. Leshner explained how tokenization allows assets to be used across various decentralized finance (DeFi) protocols. “We're starting to see assets that began entirely within the crypto ecosystem now being joined by tokenized versions of traditional financial instruments," he said.

Charlie Sandor, investment partner at CMT Digital, highlighted the broader implications of tokenization for financial efficiency. “Platforms like Coinbase are facilitating payment networks between off-chain and on-chain systems, demonstrating how these worlds are merging in ways that were unthinkable just a few years ago,” he said.

Regulation and Adoption

Panelists also addressed the regulatory hurdles that continue to shape the adoption of tokenized assets. Leshner acknowledged that while the potential is vast, compliance remains a critical challenge. "We're at an early stage of understanding what open and autonomous financial markets look like," he said, adding that creating frameworks that satisfy both traditional compliance standards and blockchain's decentralized ethos is essential for future growth.

Marriott echoed this sentiment, pointing to the role of regulation in driving consumer trust. "As firms navigate these regulatory challenges, they're building the infrastructure needed to make these systems more accessible and trustworthy for everyday users," she said.

Looking Ahead

The panel concluded by focusing on what lies ahead for tokenization and its role in the financial ecosystem. Leshner predicted a rise in highly controlled and permissioned assets within DeFi platforms. "These systems will evolve to accommodate both traditional and decentralized markets, creating hybrid models that leverage the strengths of both," he said.

With traditional and blockchain-based systems converging, tokenization is poised to transform how assets are managed, traded, and utilized. The panelists agreed that this transformation is just beginning, with 2025 expected to bring significant progress in integrating real-world assets into blockchain ecosystems.

@ Newshounds News™

Source: Benzinga

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MASON DEBUNKED TRUMP'S CRAZIEST CLAIMS AND HERE'S WHAT I FOUND  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 12-11-24

Good Morning Dinar Recaps,

BRICS NEWS: EXPERT SAYS NATIONS WILL EVENTUALLY DITCH US RESERVES FOR BITCOIN

With the ongoing tension between the BRICS alliance and the United States, one expert has theorized that most nations will eventually end up ditching US dollar reserves for Bitcoin. Indeed, economist Jeremy Siegel recently noted that the leading crypto has emerged as a threat to the greenback’s global standing.

Senior economist at WisdomTree, Siegel, discussed the curiosity of Trump’s continued embrace of Bitcoin. Specifically, he noted that the asset class is far more dangerous to the US dollar’s dominance than gold or any BRICS currency, according to a Benzinga report.

Expert Says Bitcoin, Not BRICS, Is Greatest Threat to US Dollar

Since 2022, when Russia invaded Ukraine, the BRICS bloc has been on a mission. Specifically, the collective has sought ways to ditch the US dollar in international trade.

Moreover, it has moved to lessen the global reliance on the Western currency. These decisions appeared made out of necessity. With the West sanctioning Russia, forcing it to rely on allies in the global south.

Yet, those de-dollarization plans have been confronted by President-elect Donald Trump. Moreover, with 100% tariffs planned under the returning president, things have certainly gotten interesting. For one economist, the incoming commander-in-chief’s position appears inconsistent, to say the least.

Indeed, amid the BRICS scuffle, finance expert Jeremy Siegel has said nations will likely eventually ditch the US dollar reserves for Bitcoin. What makes that interesting is that Trump has recently paraded BTC’s all-time increase above the $100,000 mark.

“I found it curious that Trump threatened 100% tariffs for the BRICS nation wanting to implement a new reserve currency, while also championing the rise of Bitcoin’s price surpassing $100,000 and attributing it to his pro-crypto world view,” Siegel said.

“Bitcoin is viewed by many as an alternative global currency similar to what the BRICS are looking to achieve,” he added. “Bitcoin is far more of a threat to replace the dollar in world reserves than anything created by the emerging market economies.”

The asset’s recent surge supports Siegel’s position. Bitcoin has been skyrocketing in value and is projected to reach $200,000 next year. Trump’s pro-BTC position could fuel global accumulation. Therefore, driving even more countries away from the dollar.

@ Newshounds News™

Source: Watcher Guru

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HONG KONG LOOKS TO SPEED UP CRYPTO REGULATION AMID RISING SECTOR DEMANDS

Hong Kong is exploring ways to expedite updates to its crypto regulations in response to the fast-growing global sector.

The fast growth of the crypto sector is pushing Hong Kong to reconsider its regulations, with talks focused on speeding up changes to meet growing industry needs. A proposal raised in the Legislative Council on Dec. 11 highlights the pressure on the government to keep up with the global rise in crypto investments.

In a written response, Acting Secretary for Financial Services and the Treasury, Joseph Chan, admitted that while the virtual assets sector offers financial innovation opportunities, it also presents new “complexities to the financial system.” 

He emphasized Hong Kong’s commitment to keep up with international standards, noting that the city “has key influence in the regulation and development of VA.”

However, Chan didn’t go into detail on how or when Hong Kong plans to adjust its crypto regulations to stay competitive.

Moreover, some lawmakers have even raised concerns about the need for a more comprehensive approach. There is speculation that Hong Kong could establish a dedicated department or commissioner to oversee crypto policies, following international trends.

One way or the other, the question of whether cryptocurrencies like Bitcoin should be included in Hong Kong’s fiscal reserves still seems to be open. In the meantime, Chan pointed out that crypto-assets are not currently a target asset for Hong Kong’s Exchange Fund.

“It cannot be ruled out that there may be investments involving crypto-assets during the investment operations of the external managers at different points of time, but the relevant proportion is minimal,” Chan said.

@ Newshounds News™

Source: Crypto News 

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BINANCE AND CIRCLE ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE GLOBAL CRYPTO ADOPTION

Key partnership between Binance and Circle seeks to accelerate the adoption of USDC and digital assets worldwide.

Binance and Circle Join Forces for Global Crypto Adoption

A new strategic partnership between Binance and Circle Internet Group was launched at the Abu Dhabi Finance Week. The cooperation will increase the use of USD Coin (USDC) and promote the growth of the global digital assets and financial services ecosystem.

This partnership combines a reliable and compliant digital currency with the biggest platform for using digital assets globally, thanks to USDC’s expansion and widespread use.

Through the collaboration, Binance will expand the availability of USDC throughout their whole range of goods and services, guaranteeing that over 240 million Binance users worldwide can easily access and utilize USDC for applications related to trading, saving, and payments. Binance will also use USDC as a key dollar stablecoin for their corporate treasury.

Richard Teng, CEO of Binance shared his thoughts about the partnership.

“Through our strategic partnership, our users will have more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.

We will also work closely with Circle to drive innovation and utility for stablecoins globally. Working together as a team, we believe we can materially push forward the possibilities for the internet financial system.”

Jeremy Allaire, Chairman and CEO of Circle echoed Teng’s thoughts on the partnership.

“With Binance rapidly becoming the world’s leading financial super app, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform. I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”

This partnership aims to consolidate the role of USDC in digital payments, promising broader adoption and innovation in the crypto space.

@ Newshounds News™

Source:  Bitcoin News

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CRYPTO SUCCESS SECRETS NOBODY SHARES  |  Youtube

Crypto Ledger, Nathan, and Seeds of Wisdom Team, Salty Toes and R Jax, discuss Crypto, Gold, and the direction of the future financial system.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 12-11-2024

TNT:

Tishwash:  Kurdistan Region President suffers heart attack

 An informed source revealed, today, Tuesday (December 10, 2024), that the President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in Paris.

The source said in an interview with Baghdad Today, "The President of the Kurdistan Region, Nechirvan Barzani, suffered a mild heart attack while he was in the French capital, Paris."

He added, "He was transferred to the hospital and his health condition is currently stable."  link

Tishwash:  Al-Sudani: Iraq is a key member of the international coalition

Prime Minister and Commander-in-Chief of the Armed Forces, Mr. Mohammed Shia Al-Sudani, received today, Tuesday, Commander of the US Central Command, General Michael Kurilla, and his accompanying delegation.

The meeting witnessed discussions on cooperation and coordination between Iraq and the international coalition in combating terrorism and confronting extremism. The Prime Minister stressed that Iraq is a key member of this coalition and is committed to cooperating with the international coalition to confront and monitor terrorist groups in a way that preserves security and stability in the region. In return, Mr. Kurilla stressed the commitment of the international coalition to support Iraq in preserving its security and sovereignty against any terrorist threat.

The meeting also included discussions on the latest developments in Syria and the ongoing repercussions in the region, where Mr. Al-Sudani stressed the importance of respecting the free choices of the Syrian people and Iraq's readiness to help the Syrians in these circumstances and the transitional phase.

His Excellency pointed out the necessity of preserving Syria's security, the unity of its territories, the safety of its people, and the ethnic, religious, and social diversity it enjoys, stressing the importance of preventing any attack on any of the components of the Syrian people or its religious sanctities, and that Iraq will follow the course of events and the credibility of actions, not words.

Mr. Al-Sudani reiterated Iraq's commitment to working with Arab and neighboring countries to help the Syrians and consolidate security and stability in the region.  link

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Tishwash:  UN Mission: Iraq has proven to the world that it is capable of overcoming challenges and building the future

The United Nations Assistance Mission for Iraq (UNAMI) confirmed today, Monday, that Iraq has proven to the world that it is capable of overcoming challenges and creating the future.

The mission stated in a statement issued on the occasion of Victory Day in Iraq, and received by the Iraqi News Agency (INA): "On December 10, Iraq celebrates Victory Day, in commemoration of the liberation of its lands from the control of the terrorist organization ISIS. This day represents an important national milestone in which the country recalls the great sacrifices made by the Iraqis to restore their land and establish security and stability throughout the homeland."

It added, "Victory Day, in addition to being an occasion for heartfelt congratulations, comes to emphasize the need to preserve the gains achieved thanks to the efforts of everyone here in Iraq in addition to their partners from around the world. It also represents a call for everyone to strengthen national unity and joint action for a strong Iraq capable of facing challenges and free from the tensions and conflicts that plague the region."

She continued, "On this occasion, we also appreciate the achievements made since the field victory over terrorism, and we call for continued work to rid Iraq not only of the remnants of ISIS, but also of all forms of extremism and fanaticism. We look forward to an Iraq in which everyone enjoys security, peace, respect for human rights and the rule of law, and to turning the pages of the painful past forever by promoting national reconciliation in a way that ensures the preservation of gains, focusing on what unites the word and unifies the ranks, and avoiding areas of division and division, including controversial topics that do not contribute to strengthening the unity of the fabric of society and the cohesion of its components."

She indicated that "our great hope is that the joy of victory will be complete with the return of all those forcibly displaced due to this conflict to their homes with dignity and safety and when all Iraqi citizens are returned from Al-Hol camp in northeastern Syria and integrated into society."

"In this context, we appreciate the great efforts made by the Iraqi government, with the support of the UNAMI mission and the team of United Nations organizations working in Iraq, in these files in particular," she added, noting that "the United Nations renews on this occasion its full support for Iraq, government and people, in restoring sovereignty and full control over its territories and achieving stability and sustainable development."

The mission concluded its statement by saying, "Iraq has proven to the world that it is capable, with the solidarity of its people, of overcoming challenges and creating a brighter and more prosperous future for all its citizens."   link

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

Tishwash:  Prime Minister returns to Baghdad after short visit to Jordan

Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, today, Wednesday, after a short visit to Jordan.

The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), "Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, after a short visit to Jordan."

He added, "The Prime Minister met King Abdullah II during the visit."

Baghdad/Al-Masala: Prime Minister Mohammed Shia al-Sudani stressed, on Wednesday, the importance of standing by the brotherly Syrian people, while stressing the need to intensify international efforts to reach an immediate halt to the aggression on Gaza.

Al-Masala publishes the text of the statement:

Prime Minister Mohammed Shia Al-Sudani met today, Wednesday, in the Jordanian capital, Amman, with His Majesty King Abdullah II of the Hashemite Kingdom of Jordan, where they discussed current developments in the region and events in the Syrian arena.

The meeting witnessed emphasis on the importance of enhancing bilateral coordination in order to confront regional and international challenges, and continuing efforts to prevent the expansion of the conflict in the Middle East, and the risk of sliding into chaos.

Mr. Al-Sudani stressed the importance of standing by the brotherly Syrian people in these difficult circumstances, the necessity of respecting the free will of all Syrians, preserving the unity of Syrian territory, the country’s sovereignty, and its ethnic, religious, and social diversity, and supporting the Syrian people’s choices towards building a stable and prosperous Syria that ensures the participation of all its components in managing the country’s affairs, continuing consultations with all parties, and exchanging visions to present effective initiatives that serve common interests and enhance stability in the region.

The two sides also stressed the need to intensify international efforts to reach an immediate halt to the aggression on Gaza, and to double relief and medical aid to reduce the suffering of the people of the Strip, while warning of the danger of continued hostile actions by settlers against the Palestinians in the West Bank, as well as working to make efforts to ensure the consolidation of the ceasefire in Lebanon and guarantee its stability.

The meeting discussed aspects of bilateral relations between the two countries, ways to enhance them, and continue working to build fruitful partnerships in various fields, in the interest of the two brotherly peoples.

Prime Minister's Media Office

December 11, 2024  link

Mot: .... Splains it Huh 

Mot:  .. Getting Tough - the More I Season!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Evening 12-10-24

Good Evening Dinar Recaps,

RIPPLE (XRP) RECEIVES FINAL APPROVAL FROM NYDFS FOR RLUSD
Ripple Labs (XRP) has officially received final approval from the New York State Department of Finance (NYDFS) for its stablecoin RLUSD. 

Ripple’s CEO Brad Garlinghouse made the announcement in a post to X Tuesday afternoon, revealing the latest achievement.

“This just in…” the announcement reads, “we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.” The news means that we may see the arrival of RLUSD as soon as this month.

Following its years-long legal battle with the SEC, Ripple has flourished in the final months of 2024. The company’s native cryptocurrency is now the fifth largest in the world by market cap. Ripple Labs’ decision to launch a stablecoin was also met with optimistic ears earlier this year.

The coin has been ready for some time and could see its door to New York City, one of the finance capitals of the world, open up soon.

Over the past month, Ripple Labs has seen plenty of success, especially with its native cryptocurrency XRP. The asset is up over 200% in the last 30 days. The XRP Ledger has also seen significant success, especially on the world stage. 

Last month, the software company made waves in BRICS countries India and Russia. The Russian government has taken a significant step in digital asset regulation, passing a bill recognizing XRP and other cryptocurrencies. The bill also established a clear taxation framework for crypto.

In addition, the Reserve Bank of India (RBI) also announced a collaboration with Ripple Labs for the virtual Rupee initiative.

Ripple RLUSD To Pump XRP Price?

The arrival of RLUSD is also expected to further pump XRP Price. Currently, XRP is trading at $2.255, up 7% in the last hour alone. With Christmas around the corner, the market is also getting into the festive spirit, with investors hoping that the realm would favor their XRP investments more seriously.

Predictions have been raised for the asset over the remainder of the year, with projections touching near $3, contains the assets surge. Should the Ripple stablecoin RLUSD launch in the next week, expect Ripple to see further growth.

Garlinghouse has yet to provide an estimated launch date for the stablecoin. However, the NYDFS’ approval is a great sign.

https://watcher.guru/news/ripple-xrp-receives-final-approval-from-nydfs-for-rlusd

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

EU’S MICA CRYPTO RULES: WILL THE DECEMBER DEADLINE DISRUPT STABLECOINS?

Several EU countries are struggling to implement MiCA regulations on time, potentially disrupting the crypto market.

The December deadline for crypto service providers and stablecoin issuers is causing concerns, with industry groups calling for a delay.

MiCA's regulations on stablecoins, especially the volume limits, aim to protect the Euro's dominance and could impact the broader crypto market.

The European Union’s new cryptocurrency regulations, known as MiCA (Markets in Crypto-Assets), are set to take effect by the end of the year.

These rules aim to create a unified framework for crypto operations across Europe. However, many countries are behind in updating their local laws, raising concerns about disruptions—especially for stablecoins.

Nations Falling Behind

Countries like Belgium, Italy, Poland, Portugal, Luxembourg, and Romania haven’t yet adjusted their laws to align with MiCA. This delay puts crypto businesses in these regions at risk of missing the December deadline, which could slow down the rollout of the EU-wide regulations.

In Poland, the proposed legislation is stuck in committee. Portugal is debating how to divide responsibilities between regulators. Belgium is waiting on political decisions, while Ireland’s Central Bank has started processing applications but warns the process will take time. Similarly, Malta, Italy, Cyprus, and Lithuania face delays, with Malta needing to update its crypto laws to meet MiCA’s requirements.

A Unified Vision for Crypto Regulation

MiCA’s goal is to create consistent rules for crypto service providers, such as exchanges, custodians, and wallet operators, across the EU. To continue operating, businesses must secure licenses from their national regulators. However, many regulators are struggling to process these applications in time, creating uncertainty as the deadline approaches.

The implementation is split into two phases.

The first phase began in June and required stablecoin issuers to obtain authorization. The second phase, with a December deadline, focuses on licensing crypto service providers like exchanges and wallet providers.

Industry Calls for More Time

Crypto industry groups are asking for an extension to the December deadline, arguing that the short time frame between the finalization of technical standards in October and the compliance deadline isn’t enough. They propose a six-month extension to help regulators manage the flood of applications and prevent disruptions to crypto businesses.

The European Securities and Markets Authority (ESMA) is set to meet on December 11 to review the situation. While updated guidance may be provided, no official delay has been confirmed. If the deadline remains, some firms may need to pause operations in the EU.

For individual users, the immediate impact is expected to be minimal, but these adjustments are part of the growing pains in the evolving crypto space.

A Big Threat to Stablecoins?

Under MiCA, stablecoins face strict rules designed to limit their volume and prevent them from competing with the Euro. Since many stablecoins are pegged to the USD, these regulations could significantly impact their use in Europe. Starting in December, stablecoin issuers will need e-money licenses from at least one EU country.

While larger players like Circle are already meeting these requirements, smaller issuers may struggle. These changes could set a precedent for stricter rules on other tokens seen as not sufficiently decentralized, signaling more oversight for the crypto industry in the future.

What happens in December might not just affect Europe but could redefine the rules for crypto everywhere.

@ Newshounds News™

Source: Coinpedia 

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CHRISTMAS PARTY 12 - 11 - 24 AT 11:11 AM IN YOUR TIME ZONE  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Some Iraq News Posted by Clare at KTFA 12-10-2024

KTFA:

Clare:  Tomorrow, Wednesday... 146 diplomatic and international figures visit Basra

12/10/2024 Basra /

The Culture, Media and Tourism Committee of Basra Provincial Council announced that "the Ministry of Foreign Affairs will organize an exploratory trip to Basra Governorate, starting tomorrow, Wednesday, for three days. To view the achievements of major strategic and development projects.

The head of the committee, Aqil Al-Furaiji, said in a statement: "The trip will witness a wide diplomatic presence, as invitations were extended to about 146 official figures, including ambassadors, chargés d'affaires and representatives of international organizations such as the United Nations, the European Union and the World Bank.

He indicated that "Basra has today become a prominent destination at all levels due to its tangible successes in various fields, noting that the visit is an opportunity to acquaint diplomatic missions with the extent of the achievements and developments witnessed by the city."

He pointed out that: "The Ministers of Foreign Affairs and Transport will be part of the visiting delegation, and the guests will be received by the Governor of Basra. The local government has also prepared a comprehensive program that includes field trips to view the achievements of the major strategic and development projects that the governorate has recently witnessed.

Al-Furaiji said that: "These achievements have contributed to restoring Basra's historical luster and true identity, which has made it the focus of attention of countries, investors, international and Arab companies, intellectuals and visitors.  LINK

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Clare:  Iraq Development Fund announces imminent launch of 4 basic projects

12/10/2024  Baghdad - WAA - Hassan Al-Fawaz, 

Chairman of the Iraq Development Fund, Mohammed Al-Najjar, revealed today, Tuesday, the fund's future plans, while confirming the imminent launch of 4 basic projects.

Al-Najjar said in a statement to the Iraqi News Agency (INA): "The fund has spent the first year of its work arranging and organizing its affairs, given that it is a completely new experience in Iraq, and has no local backgrounds," noting that "international companies and institutions were hired to support it in this field."

He added, "During the second year, the focus was on 4 main projects that will be launched soon through (Ejr w Tamlik), and now we are ready to start the projects that we promised the public."

He pointed out that "during the coming period, new projects will be announced, approximately every month, with a new announcement," noting that "each project goes through preparation and study stages that may take from 6 to 7 months in order to reach convictions that these projects are good and serve citizens by preparing correct partners and financing because we work extensively with the private sector." 

He continued: "Soon, many projects will appear on the ground."   LINK

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Clare:  Bahr Al-Uloom: The government has allocated $100 billion to support major projects over three years

12/9/2024  Baghdad - WAA - Hassan Al-Fawaz

Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Bahr Al-Ulum, stressed today, Monday, the importance of strengthening bilateral relations between Iraq and Greece, and while confirming that the government is proceeding with the development road project, he revealed that it has allocated a budget estimated at 100 billion dollars to support major strategic projects over 3 years.

"I am honored to welcome you to this Iraqi-Greek forum, which represents a milestone in the course of relations between our two friendly countries," Bahr al-Uloom said during his speech at the Iraqi-Greek forum in the capital Baghdad, attended by the correspondent of the Iraqi News Agency (INA), indicating that "organizing this forum reflects our joint commitment to strengthening the bonds of friendship and cooperation, and provides a valuable opportunity to exchange ideas and explore new horizons for a fruitful partnership that serves the interests of the two peoples."

He pointed out that "Iraqi-Greek relations are not new, but rather date back to the thirties of the last century, when Greek companies played an important role in the renaissance of Iraq, especially in the fields of infrastructure." 
Bahr al-Uloom stressed that "in light of the security and economic improvement that Iraq is witnessing today, we are ready to support a strong return of Greek companies to invest in the promising Iraqi market, which is full of diverse opportunities."

He explained that "the visit of the Greek delegation is a prominent station to strengthen bilateral relations in the economic field," noting that "during this visit, in-depth discussions were held with Iraqi officials on vital files, and promising understandings were reached that we hope will soon be translated into tangible projects that benefit both countries."

Bahr Al-Uloom stressed that "Iraq believes in the importance of real partnerships that are built on the basis of common interests, and we look forward to benefiting from the expertise of Greek companies and their pioneering trade."

Bahr Al-Uloom highlighted the ambitious vision of the Iraqi government, led by Prime Minister Mohammed Shia Al-Sudani, which aims to develop the Iraqi economy by supporting the private sector and stimulating foreign investment. He explained that “the government has launched initiatives, including the Iraqi Development Fund to attract foreign investments in cooperation with prestigious international funds, in addition to providing sovereign guarantees to support the private sector in implementing these projects.”

He pointed out that “the government has allocated a budget estimated at $100 billion over three years to implement major infrastructure projects, and this is a suitable ground for the participation of Greek companies,” noting that “the government is proceeding with the strategic development road project that links the East and West at the lowest cost and establishes new economic cities in Iraq.”

Bahr Al-Uloom explained that “the government plans to build one million new housing units, which provides wide areas for international companies, in addition to opportunities in the energy sector, as Iraq produces 4 million barrels of oil per day and ranks third in production. It also has large gas reserves, and aims to develop its production in this field over the next five years.”

Bahr Al-Uloom stressed that “Iraq seeks to develop the pharmaceutical and food industries with annual needs It exceeds 3 billion dollars," noting that "Iraq, thanks to its security stability and economic vision, is a reliable strategic partner for Greek companies."  LINK

Clare: Al-Bandawi: Our borders with Syria are secure and what happened in 2014 will never happen again

12/10/2024  

 Member of the Parliamentary Security and Defense Committee, Ali Al Bandawi, confirmed that the Iraqi border with the Syrian side is “secure and cannot be penetrated.”

Al-Bandawi told Al-Furat News Agency: "The Iraqi-Syrian border is 100% secure. We visited the Border Guard Forces Command and met with the security leaders in the presence of the Minister of Interior. We were assured of the border situation thanks to the deployment of security forces, the procedures of placing concrete, digging a trench 4 meters wide and 3 meters deep, distributing barbed wire, watchtowers, thermal cameras, drones and intelligence efforts."
He added, "Behind these procedures are the Ministry of Defense forces from various army formations and then the Popular Mobilization Forces."

Al-Bandawi pointed out that "the border is secure and we assure the Iraqi people that the border is solid and there will be no entry of any ISIS terrorist element or other terrorist groups as happened in 2014 and that this event will never be repeated."

Raghad  LINK

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

Clare:  Prime Minister: Victory Day has become a milestone in our people's journey

12/9/2024  Baghdad - WAA 

Prime Minister Mohammed Shia Al-Sudani confirmed today, Monday, that Victory Day is a day when all Iraqis are proud of what they achieved 7 years ago in a resounding victory over the defeated ISIS gangs, stressing that Victory Day has become a milestone in the path of our people.  

The Prime Minister said in a speech on the occasion of Victory Day - followed by the Iraqi News Agency (INA): "We remember a day when all Iraqis are proud of what they achieved 7 years ago in a resounding victory over the defeated ISIS gangs," indicating that "Victory Day has become a milestone in the journey of our people."

The Prime Minister added that "the first thing we remember on this day is that victory has become a reality that we boast about throughout history thanks to the sacrifices of the martyrs and the wounded and supported by the supreme authority with its blessed fatwa," explaining that "friends and brothers stood with us in the face of terrorism; because the Iraqis fought on behalf of the world."

The Prime Minister stressed that "the victory of the Iraqis is the victory of humanity in the face of the threat that terrified the region and the world," adding that "terrorism no longer has a foothold on the land of Iraq today and its remnants have nothing but defeat and flight before our armed forces."

He explained that "our forces crush terrorists wherever they find them," indicating that "there are still those who are waiting for opportunities, delusional, to breathe life into the remaining terrorists."
The Prime Minister continued, "We must continue to confront alien ideas and everything that destroys our social and cultural values," explaining, "We must address all the gaps that enabled terrorism to infiltrate in 2014."

The Prime Minister stressed that "our Iraq emerged strong, healthy, victorious and determined to build, reconstruct and develop," adding, "We have continued to support and extend the power of law, achieve justice, reconstruct liberated areas, support their people and return all their residents to their land."

He pointed out that "the victory of the Iraqis over the defeated ISIS gangs is a confirmation of the importance of the unity of our people," stressing the need to "warn against the danger of suspicious calls that aim to obstruct the wheel of life that the heroes of victory created with their sacrifices."
The Prime Minister explained that "Iraqi cities have become a workshop for reconstruction and progress," warning against the consequences of "fueling conflicts that produce more destruction and causes of wars."

The Prime Minister continued, "Today, we are following the events in neighboring Syria and we are hopeful that the countries of the region and the world will assume responsibility to preserve the security and sovereignty of Syria," stressing, "the necessity of leaving the choice to the Syrian people and respecting their free will, along with the international responsibility to preserve the unity of Syrian territory and protect diversity."

The Prime Minister concluded his speech, "Terrorism came to Iraq across the border and we defeated it with great sacrifices."  LINK

Iraq Economic News and Points to Ponder Tuesday Afternoon 12-10-24

Dollar Prices Drop Slightly In Baghdad and Erbil At Closing

Economy  | 10/12/2024  Mawazine News – Economy  The US dollar exchange rate in the Iraqi capital Baghdad witnessed a slight decline on Tuesday evening, and prices in Erbil, the capital of the Kurdistan Region, recorded a similar decline with the closing of the stock exchanges.

The dollar prices also decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,700 dinars per 100 dollars, compared to 150,800 dinars in the morning.

Selling prices stabilized in the local exchange markets in Baghdad, where the selling price reached 151,750 dinars per 100 dollars, while the purchase price reached 149,750 dinars per 100 dollars.

In Erbil, the dollar also recorded a slight decline, where the selling price reached 150,400 dinars per 100 dollars, while the purchase price recorded 150,300 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257307

Baghdad Stock Exchange closes higher... 151,750 dinars per 100 dollars

Money and business Economy News – Baghdad The US dollar exchange rate continued to rise against the Iraqi dinar, with the closing of trading at the Al-Kifah Stock Exchange in Baghdad.

The selling price in exchange shops was recorded at 151,750 dinars for 100 dollars, while the purchase price was 149,750 dinars for 100 dollars.

Amid the discrepancy between the official and parallel price, most local markets are experiencing a state of stagnation due to their impact on the US dollar. https://economy-news.net/content.php?id=50730

Gold Rises 0.6 Percent

Time: 2024/12/10 17:16:08 Reading: 247 times {Economic: Al Furat News} Gold prices rose during trading on Tuesday, supported by the escalation of geopolitical tension in the Middle East and expectations of a reduction in US interest rates during the current month.

Investors are awaiting key US inflation data due later this week.

Spot gold rose 0.6 percent to $2,674.39 an ounce by 11:01 GMT.

As for other precious metals, silver rose in spot transactions by 0.1 percent to $31.85 per ounce, platinum fell by 1 percent to $938.11, while palladium fell by 0.2 percent to $972.67. LINK

Globally.. Slight Decrease In Oil Prices

Economy  | - 10/12/2024  Mawazine News – Baghdad  Oil prices edged lower on Tuesday, holding onto most of their gains from the previous session, as heightened geopolitical risks following events in Syria and China’s pledge to increase fiscal stimulus helped support prices.

Brent crude futures were down 13 cents, or about 0.2%, at $72.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, or also 0.2%, at $68.23.

Both futures rose more than 1% on Monday. https://www.mawazin.net/Details.aspx?jimare=257298

Minister Of Culture: Crowning Baghdad As The Arab Tourism Capital Will Create Many Investment Opportunities

Local | 10/12/2024 Mawazine News – Baghdad  Minister of Culture and Antiquities Ahmed Fakak Al-Badrani confirmed today, Tuesday, that crowning Baghdad as the capital of Arab tourism will create many investment opportunities, while indicating that this coronation will increase job opportunities in popular markets and professions.

Al-Badrani told the official agency: "18 items were included on the agenda of the Executive Council of Arab Tourism Ministers, the most prominent of which is choosing the capital of Arab tourism," noting that "the support of Prime Minister Mohammed Shia Al-Sudani and the efforts made in Baghdad by everyone culminated in the council's unanimous vote to make beautiful and beloved Baghdad the capital of Arab tourism for the year 2025."

He explained that "this is one of the great achievements made under the government of the Prime Minister, and the assistance of the Council of Ministers and all ministries contributed to achieving this decision," noting that "the Baghdad Municipality made great efforts in achieving this, in addition to the entire ministry's staff represented by the Tourism Authority, the Antiquities Authority and the Culture Directorate in the ministry, which made great efforts to show the beauty and splendor of the beautiful nights of Baghdad."

He added, "This is good news for all Iraqis that Baghdad, which history has turned its back on for a while, has returned strongly to Arab circles and the international community to be the capital of Arab tourism and a destination for tourists in 2025," indicating that "this is a great achievement for the government and in the coming days many details about this issue will be revealed."

Al-Badrani pointed out that "this issue has many importance, the first of which is to shed light on the fact that Baghdad has returned as a safe and secure city that sleeps peacefully on the banks of the Tigris and welcomes with open arms all tourists from everywhere, in addition to Baghdad being a large library represented by Mutanabbi Street and the universities in Baghdad."

He stressed that "this decision has an important economic aspect, as tourism has stopped and been disrupted for many known reasons, but now Baghdad will be crowded and there will be great job opportunities and many in the popular markets and professions," indicating that "many owners of capital will try to come to Baghdad to look for an investment opportunity."

https://www.mawazin.net/Details.aspx?jimare=257306

Iraq Development Fund Announces Imminent Launch Of 4 Basic Projects

Mohammed Al-Najjar   Construction and reconstruction  Economy News - BaghdadOn Tuesday, the head of the Iraq Development Fund, Mohammed Al-Najjar, revealed the fund’s future plans, while confirming the imminent launch of 4 basic projects.

Al-Najjar said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the fund has spent the first year of its work arranging and organizing its affairs, given that it is a completely new experience in Iraq, and has no local backgrounds," noting that "international companies and institutions were used to support it in this field."

He added that "during the second year, the focus was on 4 basic projects that will be launched soon through (Ejr wa Tamlik), and now we are ready to start the projects that we promised the public."

He pointed out that "during the coming period, new projects will be announced, approximately every month, with a new announcement," noting that "each project goes through preparation and study stages that may take from 6 to 7 months in order to reach convictions that these projects are good and serve citizens by preparing correct partners and financing because we work extensively with the private sector." He continued: "Soon, many projects will appear on the ground."

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