Iraq Economic News and Points to Ponder Tuesday Evening 1-21-25

Central Bank of Iraq's sales of foreign remittances reach more than 94%

Time: 2025/01/21 Reading: 910 times  {Economic: Al Furat News} Foreign transfers in the sales of the Central Bank of Iraq, on Tuesday, reached more than 94% with the participation of 7 banks and 19 exchange companies.

The bank sold in its auction today 287 million, 882 thousand, and 784 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to 273 million, 323 thousand and 784 dollars, at a rate of 94.87%, compared to cash withdrawals amounting to 14 million and 550 thousand dollars.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 6 banks, and the total number of exchange companies participating in the auction was 19 companies.  LINK

Foreign Ministry: Decision To Downgrade Security Classification Will Open Door For British Companies To Enter Iraqi Market

Money and business  Economy News – Baghdad   The Foreign Office on Tuesday welcomed the UK's decision to downgrade Iraq's security rating.

The ministry said in a statement, seen by "Al-Eqtisad News", that "the Ministry of Foreign Affairs welcomes the decision of the United Kingdom to reclassify the security level in Iraq, and considers this step an important achievement that reflects the significant improvement in the security situation and the Iraqi government's ongoing efforts to achieve stability and enhance a safe and encouraging environment for investment and work."

It added that "reducing the security classification will open the way for British companies to enter the Iraqi market, and the decision will contribute to reducing the costs of travel and work insurance, which will enhance opportunities for economic and investment cooperation between Iraq and the United Kingdom.

" It continued, "In this context, the ministry calls on other Western countries, including the United States of America, Canada, and the European Union countries (Germany, France, Belgium, Italy, Austria, and the Netherlands), to reconsider their security classifications for Iraq, and the ministry encourages these countries to take similar steps that support Iraq's efforts to enhance economic cooperation."

The ministry confirmed that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein will work to send official messages to the concerned countries, urging them to review their security classifications for Iraq in line with the positive developments and the noticeable improvement in the security situation."

The ministry renewed, according to the statement, "its commitment to work with its international partners to strengthen bilateral relations and provide an appropriate environment for expanding cooperation in various fields, in a way that serves common interests and enhances stability and development in Iraq and the region."    https://economy-news.net/content.php?id=52172        

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

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

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

The statement added, "The Council of Ministers decided to suspend official work in all state departments and institutions in the capital, Baghdad, on Sunday, January 26, 2025, on the occasion of the commemoration of the martyrdom of Imam Musa bin Jaafar al-Kadhim, peace be upon him."

He explained that "following up on the progress of implementing the government program and the digital data related to the achievements, the Council of Ministers reviewed the fourth semi-annual report of the government program in terms of achievement and implementation of the program and it was approved, as the total achievement rate of the targets during the government's lifetime reached (73%), while the interim achievement rate for all targets reached (86%), and the data on the total achievement of (403) targets of the program was confirmed."

He added, "Regarding the submission of government program implementation reports by ministries and state institutions, the Council of Ministers agreed that all ministries and relevant authorities should express their observations on the fourth semi-annual report to follow up on the implementation of the government program, each according to its specialization, until the official working day of Thursday, January 23, 2025, provided that the Secretariat of the Program Implementation Follow-up Team undertakes to make the necessary amendments in accordance with the rules, and submit the report under discussion in its final form to the Prime Minister for approval and submission to the House of Representatives, based on the provisions of the Council of Ministers' internal regulations for the year 2019."

The Council of Ministers continued the approach of evaluating the performance of officials and general managers, according to the previously approved principles, and voted to confirm (14) general managers after the evaluation, in various government departments.

The statement indicated that, "Within the energy sector projects, the Council approved the principles of cooperation between the Ministry of Electricity and Stellar Energy, and proceeded with implementing the terms of the agreement, and authorizing the Ministry of Electricity with the necessary authority to contract with the aforementioned company, as an exception to the contracting methods in implementing government contracts, in a manner that ensures speedy completion and achieving the desired goal, and that the contract enters into force when financial allocations are available."

It was decided that the Ministries of Finance and Planning would include the principles of energy cooperation within the budget allocations for the year 2025, in the amount of two billion dollars, for the first phase, so that the second phase of the loan would be completed within the budget allocations for the year 2026, and the Minister of Electricity would be authorized to issue subsequent approvals regarding the signing of the principles of cooperation between the Ministry of Electricity and Stellar Energy Company, as an exception to the instructions for implementing government contracts.

He pointed out that "within the file of developing oil sector projects, the Council followed up on the Nasiriyah field expansion project, with a capacity of (100,000 b/d - Dhi Qar Oil Company), where it was approved to amend Cabinet Resolution (30 of 2021) to include adopting the implementation method (EPC), instead of (EPCF), with an amendment to the total cost of the project, and deleting the paragraphs from the aforementioned resolution, related to the sources of funding, as the project is included in the investment budget for the year 2024. It was also decided that the Ministries of Planning and Finance would send a letter to release the financing to open the documentary credit, according to the dues due for the project within the fiscal year 2025 and subsequent years, and the commitment of the Ministry of Finance to finance the aforementioned documentary credit."

Regarding the development of the Bin Omar and Sinbad oil fields in Basra Governorate, the Council of Ministers approved the signing of the Principles Agreement (HOA) with Halliburton to develop the two fields, using the Integrated Management System (IFMS) and Engineering, Construction and Procurement (EPCM) method with national effort, and it is treated as a licensing round, according to a statement from the Prime Minister’s Media Office.

He added, "In the field of settling the financial and administrative matters of the Anbar Combined Power Plant Project, the Council of Ministers approved the cancellation of the amount of debt owed to the Ministry of Transport/General Company for Iraqi Ports by the Ministry of Electricity, amounting to (12,448,608) billion dinars, regarding fines and grounds for equipment for the Anbar Combined Power Plant Project for two shipments; because they contained specialized equipment with high weights and large standard sizes; based on the provisions of the Federal Financial Management Law (6 of 2019) amended."

He explained that the Council approved the recommendation of the Ministerial Council for the Economy regarding the purchase of specialized equipment for ground services for the Ministry of Transport, in accordance with what was stated in the Ministry’s letter on January 19, 2025.

He pointed out that "in order to follow up on the environmental issue and activate the work of the General Company for Carbon Economics, the Council of Ministers decided to include the Ministry of Finance with an amount of (10) billion dinars, to the Ministry of Environment / General Company for Carbon Economics, within the estimates of the budget tables for the year 2025, in order to cover the founding operating expenses, and to achieve the company's goals stated in the founding statement, published in the Iraqi Gazette in issue (4764) on March 11, 2024."

The statement added, "The Council of Ministers followed up on the project to establish an integrated medical city in Dhi Qar Governorate, and approved the recommendation related to referring the medical city project/turnkey delivery from the relevant committee in the Dhi Qar Governorate Reconstruction Fund to the China State Construction Engineering Corporation, Limited Liability Company, based on the provisions of the Dhi Qar Governorate Reconstruction Fund Instructions (2 of 2021)."

He explained that "for the purpose of ending the financial matters related to Covid-19 vaccines, the Council of Ministers approved the authorization of the Minister of Health, or his representative, to contract with UNICEF to provide the Ministry of Health with its needs of medicines, medical and laboratory equipment and supplies, and other needs, according to the Ministry's need from the reserve of vaccines related to (Covid-19), and other vaccines for previous years combined with UNICEF, amounting to (28,154,000) million dollars, as an exception to the contracting methods for implementing government contracts."

He added that "in order to manage and organize the affairs of expatriates, the Council approved the adoption of the Iraqi National Insurance Platform for the categories (expatriates and foreign visitors), and obligated the Ministries of (Foreign Affairs, Labor and Social Affairs, Culture, Tourism and Antiquities), the National Investment Commission, and the Kurdistan Region of Iraq Representation, not to grant any visa or entry visa, except after obtaining an insurance document from the aforementioned platform, based on the provisions of the Health Insurance Law (22 of 2020).

The Council of Ministers approved the draft law on the ratification of the Republic of Iraq of the Mecca Agreement of the Member States of the Organization of Islamic Cooperation for Cooperation in the Field of Enforcing Anti-Corruption Laws signed in the State of Qatar (November 2024), and referred it to the House of Representatives, based on the provisions of the Constitution.

The Council followed up on infrastructure projects, and the completion of stalled projects, and approved the following:

1- Increasing the reserve amount and the total cost of the project (establishing two internal department complexes for boys and girls at Tikrit University).

2- Reducing the cost of the component (rehabilitation of Al-Badri Irrigation Project), including a new component for the remaining works, and increasing the cost of the main project (Al-Badri Irrigation Project) in Al-Muthanna Governorate.

3- Reducing the cost of the component (lining the Abu Alamah River in the Al-Bu Khadir area), including a new component for the remaining works, and increasing the cost of the main project (the river lining project) in Al-Muthanna Governorate.   https://economy-news.net/content.php?id=52174

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-21-25

Good Evening Dinar Recaps,

FINLAND’S NASDAQ HELSINKI WELCOMES VIRTUNE’S 5 CRYPTO ETPS:  BTC, ETH, XRP, SOL, AND ALTCOINS

The products will be listed on the Finnish Nasdaq Helsinki.

Virtune, a leading Swedish regulated crypto asset manager, has successfully listed five crypto exchange-traded products (ETPs) in Finland’s Nasdaq Helsinki. The products include top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and altcoins. 

The launch marks a key milestone for Finland as it represents the nation’s first crypto ETPs. It is also the biggest crypto ETP launch on a regulated market in northern Europe’s Nordic nations like Denmark, Finland, Iceland, Norway, and Sweden.

@ Newshounds News™

Read more:  Crypto Flash News

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XRP, DOGE, SOL, AND OTHER COINS GET NEW ETF FILINGS

REX Shares has filed multiple exotic ETF applications for such tokens as XRP, Solana (SOL), and Dogecoin (DOGE).    Leading ETF analyst Eric Balchunas has stated that REX is not just a random issuer, noting that its CEO was "an early pioneer in the industry."

Greg King, the founder and CEO of the Florida-based firm, has launched more than 100 ETFs and notes for such major names as BONK and Dogecoin. The filing also seeks to create funds for Bitcoin, Ethereum, Solana, and XRP.

Meanwhile, Teucrium, another ETF issuer, has filed for 2x Long & Short XRP ETFs. As reported by U.Today, leading analyst Nate Geraci previously predicted that an XRP ETF would be approved this year.

@ Newshounds News™

Read more:  U Today

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TRUMP PARDONS FORMER SILK ROAD FOUNDER AND BITCOIN ICON ROSS ULBRICHT

Those who convicted Ulbricht were "some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote Tuesday.

President Donald Trump announced Tuesday the pardon of Ross Ulbricht, founder of the Silk Road online marketplace.

In a social media post on Truth Social, Trump said he had granted Ulbricht a "full and unconditional pardon," citing support from the Libertarian movement and criticizing the government’s handling of Ulbricht’s case.

Ulbricht, 40, was convicted in 2015 on charges including conspiracy to traffic narcotics and money laundering in connection with the Silk Road, a darknet site that facilitated billions of dollars in illegal drug transactions.

He received a sentence of two life terms plus 40 years without parole, sparking years of debate over the fairness of his punishment.

"The scum that worked to convict him were some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote.

The pardon is expected to draw sharp reactions from both supporters and critics.

Advocates for Ulbricht have long argued his sentence was excessive, while opponents highlight the scale of criminal activity linked to the Silk Road.

@ Newshounds News™

Source:  Decrypt

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HERE IS THE FULL LIST OF PRESIDENTIAL ACTIONS TRUMP SIGNED ON DAY ONE

These bold initiatives mark a stark departure from the Biden regime’s globalist policies and signal a return to the principles that put the American people first.

Here is the list of presidential actions Trump signed on Monday following his inauguration:

1. Withdrawing The United States From The World Health Organization
2. Application Of Protecting Americans From Foreign Adversary Controlled Applications Act To TikTok
3. Granting Pardons And Commutation Of Sentences For Certain Offenses Relating To The Events At Or Near The United States Capitol On January 6, 2021

4. Putting America First In International Environmental Agreements
5. Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis
6. Hiring Freeze

7. Regulatory Freeze Pending Review
8. Return to In-Person Work

9. Ending The Weaponization Of The Federal Government
10. Restoring Freedom Of Speech And Ending Federal Censorship
11. Securing Our Borders

12. Protecting The Meaning And Value Of American Citizenship
13. Realigning the United States Refugee Admissions Program
14. Unleashing American Energy

15. Clarifying The Military’s Role In Protecting The Territorial Integrity Of The United States
16. America First Trade Policy
17. Memorandum to Resolve the Backlog of Security Clearances for Executive Office of the President Personnel

18. Declaring A National Emergency At The Southern Border Of The United States
19. Holding Former Government Officials Accountable For Election Interference And Improper Disclosure Of Sensitive Governmental Information

20. Restoring Accountability To Policy-Influencing Positions Within the Federal Workforce
21. Protecting The American People Against Invasion

22. The Organization for Economic Co-operation and Development (OECD) Global Tax Deal (Global Tax Deal)
23. Organization of the National Security Council and Subcommittees
24. Reevaluating And Realigning United States Foreign Aid

25. Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects
26. Declaring a National Energy Emergency

27. Restoring Accountability for Career Senior Executives
28. Promoting Beautiful Federal Civic Architecture
29. Restoring The Death Penalty And Protecting Public Safety

30. Putting People Over Fish: Stopping Radical Environmentalism to Provide Water to Southern California
31. Guaranteeing The States Protection Against Invasion
32. Restoring Names That Honor American Greatness

33. Designating Cartels And Other Organizations As Foreign Terrorist Organizations And Specially Designated Global Terrorists
34. Reforming The Federal Hiring Process And Restoring Merit To Government Service

35. Ending Radical And Wasteful Government DEI Programs And Preferencing
36. Defending Women From Gender Ideology Extremism And Restoring Biological Truth To The Federal Government

37. Establishing And Implementing The President’s “Department Of Government Efficiency”
38. America First Policy Directive To The Secretary Of State
39. Protecting The United States From Foreign Terrorists And Other National Security And Public Safety Threats
40. Unleashing Alaska’s Extraordinary Resource Potential

With bold leadership and a clear vision, Trump has reaffirmed his commitment to putting America first. You can read each of these executive orders on the White House’s website.

@ Newshounds News™

Source:  TruthPress

~~~~~~~~~

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Iraq Economic News and Points to Ponder Tuesday Afternoon 1-21-25

Iraq Looks To Strengthen Ties With New US Administration

January 21, 2025   Baghdad - Qusay Munther  President of the Republic Abdul Latif Jamal Rashid congratulated his American counterpart Donald Trump on the occasion of his swearing-in as President of the United States of America.

Rashid said in a tweet on the X platform yesterday (We congratulate Trump on the occasion of his swearing-in as President of the United States of America, wishing him success in his work duties), stressing (Iraq's support for establishing security and stability in the region and the world, and strengthening bilateral relations between our two friendly countries in a way that achieves the common interests of the two peoples).

Prime Minister Mohammed Shia al-Sudani sent a congratulatory telegram to Trump on the occasion of his assumption of his duties as President of the United States.

A statement received by (Al-Zaman) yesterday said (The congratulatory telegram included Al-Sudani's affirmation of Iraq's aspiration to strengthen the bonds of cooperation and partnership with the United States, within the framework of the strategic agreement and the common interests of the two countries), pointing out (the importance of working to support the foundations of stability, security and development regionally and internationally).

In a development, Al-Sudani stressed the Iraqi government's adherence to strategic relations with the United States, and its efforts to activate and expand the scope of implementing all bilateral memoranda of understanding, and bilateral security and economic coordination, under the umbrella of respecting sovereignty, and non-interference in internal affairs.

Al-Sudani said that (Washington is a major partner of Iraq, and the government is working to build a stable institutional relationship with it), and pointed out that (the government is determined to build a new Iraq based on its cultural heritage), and went on to say that (Iraq plays a pivotal role as an effective mediator between various regional parties, and Baghdad has become a center for calm dialogue aimed at bridging the gap between the parties), and pointed out that (Riyadh is a key partner in Iraq's economic equation, and that the electrical connection with Saudi Arabia is not just a technical project, but a step towards achieving long-term economic integration).

In addition, the World Health Organization expressed its regret over the decision of the new US President's administration to announce Washington's withdrawal from the UN agency.

WHO spokesman Tarik Jasarevic said in a statement yesterday that “the international body regrets the announcement by the United States of America that it intends to withdraw from the organization,” adding, “We hope that the United States will reconsider its position and engage in a constructive dialogue for the health and well-being of millions of people around the world, hoping for a constructive dialogue with the US authorities. ”

For its part, the European Commission expressed its concerns about Trump’s decision to withdraw from the World Health Organization, warning that the move could undermine the response to any future epidemics.  

Commission spokeswoman Eva Herncirova said in a statement yesterday, “If we want to withstand global health threats, we must have global cooperation,” adding, “We are confident that the US administration will think about all these matters before the official withdrawal.”

Trump began his rule by signing a series of executive orders that he described as historic, confirming that the golden age of the United States had begun. The decisions included (declaring a state of emergency on the southern border with Mexico, sending US troops to stop illegal immigration, and imposing tariffs on foreign countries to boost the US economy.

The decisions also included restoring the Panama Canal, withdrawing from the Paris climate agreement, and focusing efforts on exploring Mars and developing energy. Trump is expected to issue about 100 executive orders on his first day, opening the door to a new phase of American politics.  LINK

Economist: US Oil Exports Will Increase Crude Prices And Economic Challenges For Iraq

Time: 2025/01/21 Read: 1,417 times  Economic: Al Furat News} Economic expert, Rashid Al Saadi, warned of the repercussions of the United States of America exporting quantities of its oil energy and its impact on the Iraqi economy.

Al-Saadi told {Euphrates News} that: "This move will lead to a reduction in the quantities offered in the global market, which will raise prices as a result of the decrease in supply versus demand, and will also strengthen the economic relationship between supply and demand, as the decrease in supply will lead to an increase in oil prices, which will directly affect Iraq and the global oil market."

Al-Saadi added that "this change will lead to the United States dispensing with oil imports, which will reduce global dependence on imported oil," explaining that "these shifts in the market will have a major impact on oil prices, which may cause a decrease in the revenues of oil countries, including Iraq."

He pointed out that "the Iraqi government must begin to seriously consider finding alternative resources other than oil, given the Iraqi economy's great dependence on oil revenues."

The economic expert stressed that "the steps taken towards diversifying oil revenues were not as required, which makes it necessary to accelerate these efforts to confront future economic challenges that may be exacerbated by these changes in the global oil market."

Prices swung between gains and losses as traders digested a series of pledges and executive orders from President Donald Trump, including a threat to impose tariffs on Canada and plans to boost domestic energy production.

Brent crude traded above $80 a barrel after three days of losses, while West Texas Intermediate crude approached $77.

Trump has said he could impose tariffs of up to 25% on crude producers Canada and Mexico by early next month and signed an order declaring a national energy emergency.

However, Trump declined to unveil the China tariffs on his first day in office, instead ordering his administration to address unfair trade practices globally, according to a White House fact sheet seen by Bloomberg.   LINK

Oil Prices Fall On US Oil Production Increase Plan

Energy   Economy News – Baghdad   Oil prices fell in Asian trading on Tuesday after President Donald Trump announced a plan to boost U.S. oil and gas production and held off on new tariffs.

Brent crude futures were down 11 cents, or 0.14 percent, at $80.04 a barrel by 01:56 GMT.

The most widely traded West Texas Intermediate crude futures contract for March fell about 67 cents to $76.72 a barrel from Friday's close.

US President Donald Trump announced a plan to boost US oil and gas production and said he was considering imposing 25% tariffs on imports from Canada and Mexico starting February 1 rather than immediately, which helped push oil prices lower.

But ultimately, tariffs on Canadian crude could send the market higher.

Almost all of Canada's oil exports go to the United States and are typically sold at a discount to West Texas Intermediate crude.

Trump has laid out a comprehensive plan to speed up the issuance of oil, gas and power permits in order to maximize U.S. energy production, which has already reached record levels.

Although he did not immediately impose any sweeping new trade measures, he did order federal agencies to investigate unfair trade practices by other countries.

Trump also said the United States "may" stop buying oil from Venezuela.

Trump also promised to replenish strategic reserves, a move that would boost oil prices by boosting demand for U.S. crude.   https://economy-news.net/content.php?id=52144

60% For Only Two Countries.. Iraqi Oil Exports Rise In 2024

 01/21/2025  Mawazine News – Economy  Iraqi oil exports in 2024 witnessed a significant increase, with an increase of 90 thousand barrels per day compared to 2023, according to a report issued by the Energy Research Unit.

Exports averaged 3.64 million barrels per day during the year, with China and India accounting for about 59.6% of global shipments.

Key points about Iraqi oil exports in 2024:

1. Annual increase in exports:
- Average exports: 3.64 million barrels per day (compared to 3.55 million barrels per day in 2023).
- Highest quarterly rate: 3.69 million barrels per day in the third quarter.
- Lowest quarterly rate: 3.54 million barrels per day in the fourth quarter due to compensating for excess production.

2. Production reduction measures:
- Iraq's commitment to a voluntary production cut of 211 thousand barrels per day since May 2023, in addition to an additional voluntary cut in 2024 of 220 thousand barrels per day with the OPEC+ alliance.
- These cuts extend until the end of 2026, with volumes gradually being reintroduced from March 2025.

3. Top importers:
- China: 1.19 million bpd (up from 1.09 million bpd in 2023).
- India: 979,000 bpd (up from 945,000 bpd).
- South Korea: 328,000 bpd.
- UAE: 287,000 bpd (up significantly due to Ruwais refinery expansion).
- US: 242,000 bpd (down from 251,000 bpd).

4. Monthly performance:
- Highest monthly export rate: 3.86 million bpd in July.
- Lowest monthly export rate: 3.48 million bpd in October.

Reasons for shifts in import markets:
- China and India: Continued strong demand due to refinery expansions and increased energy needs.
- UAE: Preferring to import Iraqi oil to operate the new Ruwais refinery instead of exporting Murban crude to achieve higher returns.
- USA: Demand has declined due to the availability of local supplies and alternative sources.

These figures demonstrate Iraq’s role as one of the largest exporters in the global oil market, while maintaining flexibility in the face of market fluctuations and production policies.

The positive performance of exports is expected to continue with a balance between meeting global demand and adhering to production cut plans within the OPEC+ alliance. https://www.mawazin.net/Details.aspx?jimare=258843

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-21-25

Good Afternoon Dinar Recaps,

SEC LAUNCHES CRYPTO TASK FORCE TO DEVELOP CLEAR REGULATION

In a recent announcement, the US Securities and Exchange Commission (SEC) announced the launch of a brand new crypto task force. Specifically, the agency is set to develop “a comprehensive and clear regulatory framework for crypto assets,” according to a recently released press release.

The announcement is part of the expected changes to come from the incoming administration. With Donald Trump officially inaugurated into office Monday, he announced the appointment of Mark Uyeda as acting chair of the agency. His presence comes following former Chair Gary Gensler’s resignation this week.

SEC Launching Crypto Task Force to Develop New Regulatory Framework

For the last several years, the SEC has developed a rather contentious relationship with the digital asset sector. Under the former Biden Administration, the agency adopted a regulation-by-enforcement approach. As a result, companies like Ripple found themselves engaged in years of court battles with the agency.

Yet, that has begun to change today. With Donald Trump beginning his second non-consecutive term as US President Monday, the SEC has announced the launch of a crypto task force dedicated to the formulation of a clear regulatory framework for which the industry will be governed.

Chairman Uyeda announced the framework, with Commissioner Hester Peirce set to lead it. “Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law,” the agency said.

Additionally, they noted things like clear regulations and a pathway to registration “have been elusive.” Moreover, they noted, “The SEC can do better.” The task force appears to be the first step in that pursuit. It could be the beginning of the United States’ path to being a global crypto leader.

@ Newshounds News™

Source:  Watcher Guru

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NO CRYPTO FOCUS IN TRUMP’S 200 EXECUTIVE ORDERS: WHAT’S NEXT?

▪️Trump’s first 200 executive orders did not include any clear actions related to Bitcoin or cryptocurrencies.
▪️David Bailey hinted at potential crypto-related content but admitted uncertainty about the specifics.
▪️The crypto community was disappointed as Trump prioritized energy, immigration, and security over digital assets.

US President Donald Trump signed his first 200 executive orders shortly after assuming office. However, despite speculation and expectations from the crypto community, none of these orders were related to virtual assets like Bitcoin or other cryptocurrencies.

David Bailey, CEO of Bitcoin Magazine and former cryptocurrency advisor to the Trump campaign, shared his insights on X (formerly Twitter), stating:

“Got confirmation tonight that our EOs are among the first 200.”

However, he admitted uncertainty about the specifics. “I have no idea what made it in, but good news cometh,” he added.

Interestingly, the crypto community had hoped for stronger signals from the administration. Rumors before Trump’s inauguration suggested that he might prioritize cryptocurrency, perhaps even declaring it a national priority or establishing a Bitcoin reserve. But these ambitions did not materialize.

No Crypto in Trump’s First-day Executive Orders

On his first day, Trump directed his attention to immigration, energy, and federal operations. Key actions included reversing Biden’s restrictions on oil drilling and announcing, “We will extract as much oil as we can.” He also withdrew the US from the Paris Climate Agreement, a global initiative to combat climate change.

In another notable move, Trump signed a decree granting TikTok an additional 75 days to find a US buyer, allowing its operations in the country to continue temporarily. While this decision aimed to address security concerns, critics noted the absence of actions supporting the burgeoning crypto industry.

Fox Business journalist Eleanor Terrett expressed disappointment, tweeting:

“No Day 1 executive orders on #crypto or industry-related pardons, then?”

This sentiment echoed across the crypto community, which had anticipated early moves to recognize or regulate digital assets.
A Shift in Focus, a Missed Opportunity?

Cryptocurrency advocates were left questioning why digital assets, widely viewed as transformative, were left off the agenda. Before Trump’s term, some hoped he would pardon Ross Ulbricht, the Silk Road founder serving a life sentence. However, no such measures emerged.

During his inaugural speech, Trump remained silent on the topic of cryptocurrencies, further deepening concerns. David Bailey reassured enthusiasts by saying that their [our] “decrees are coming too”, suggesting that virtual assets might gain attention later in Trump’s presidency.

Despite the initial absence of crypto-focused orders, the speculation surrounding Trump’s approach to digital assets highlights the growing importance of cryptocurrency in national policy discussions. For now, the crypto world watches and waits, hopeful for future recognition and regulation.

@ Newshounds News™

Source:  CoinSpeaker

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HESTER PEIRCE TAPPED TO LEAD SEC’S NEW CRYPTO TASK FORCE

Acting SEC chair Mark Uyeda appoints Hester Peirce to lead a task force focused on crypto regulations and market integrity.

▪️The SEC has formed a Crypto Task Force under Commissioner Hester Peirce to establish proactive regulation and clear legal standards.

▪️The initiative aims to support innovation while addressing industry confusion over previously enforcement-focused approaches.

The SEC has established a Crypto Task Force under the leadership of Commissioner Hester Peirce, with Acting Chairman Mark T. Uyeda announcing the initiative on Tuesday.

Richard Gabbert and Taylor Asher will serve as Chief of Staff and Chief Policy Advisor, respectively, bringing together experts across the agency to work with Commission staff, industry participants, and the public.

“The SEC has relied too heavily on enforcement actions to regulate crypto, often adopting untested legal interpretations,” Uyeda said.

The task force seeks to move toward proactive regulation by establishing clear legal standards, creating practical registration pathways, and maintaining market integrity while supporting innovation.

The announcement comes as Uyeda serves as interim SEC Chair until Paul Atkins assumes the role under President Donald Trump’s administration.

The initiative aims to address industry confusion resulting from the SEC’s previous enforcement-focused approach by developing clear regulatory guidelines and disclosure frameworks for crypto assets.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

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DOLLAR COLLAPSE: A Simple Breakdown to a Complex Crisis (Currency Reset)

DOLLAR COLLAPSE: A Simple Breakdown to a Complex Crisis (Currency Reset)

Taylor Kenny:  1-21-2025

he collapse of the dollar is accelerating, driven by unsustainable debt, geopolitical alliances, and technological advancements like CBDCs.

These forces are leading us toward an inevitable Currency Reset that will reshape the global economy. Learn what’s happening, what’s coming next, and how to protect your wealth.

CHAPTERS:

00:00 - Why this might be the most important video of the year

00:36 - Understanding the Dollar’s central role

02:15 - The illusion of Dollar strength

 02:54 - Four driving forces behind the Dollar’s collapse

11:25 - The process leading to a Currency Reset

 12:02 - What happens during a Currency Reset

13:15 - Gold as the foundation of a new financial system

https://www.youtube.com/watch?v=TRbYWyJ9Sv8

Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-21-25

Good Morning Dinar Recaps,

BRICS REALIZE THEY CANNOT CHALLENGE THE US DOLLAR

The US dollar started 2025 with a bang leaving local currencies of BRICS countries distantly behind in the charts. The DXY index, which tracks the performance of the US dollar shows the currency crossing the 110 mark.

The US markets are confident that Trump’s re-election could turn the fortunes of America and bring economic prosperity. The same positivity is lacking in developing countries as their local currencies are being hammered by the raging US dollar.

The BRICS alliance, which kick-started the de-dollarization agenda is now reeling under pressure from the US dollar. BRICS country India’s local currency, the rupee, has fallen to a lifetime low of 86.68 this week. The rupee fell four trading sessions in a row as the USD trampled the currency in the charts. Currency experts predict that the Indian rupee could fall to 90 to 92 levels in the next 10 months.

BRICS No Challenge to the US Dollar

The US dollar is strengthening in the indices with the massive inflow of funds entering the American markets. Institutional investors offloaded most of their overseas funds and are now taking entry positions in the US markets.

 The belief that Trump’s rule could bring fortunes has reached a peak in 2025. The first instance of the market gaining steam occurred immediately after he was declared the winner in November. This puts BRICS on the back foot as it stands no chance to challenge the US dollar during Trump’s tenure.

Trump has already threatened BRICS with 100% tariffs if they plan to abandon the US dollar for trade. The alliance is now left with obeying his demands as a tariff increase will only hurt their economies.

The de-dollarization agenda could fail under his rule as the President-elect aims to safeguard the USD. Whether he will bring in laurels to the US stock market or cause a dent, only time will tell.

@ Newshounds News™

Source:  Watcher Guru

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RAMASWAMY EXITS DOGE FOR OHIO GOVERNOR BID, LEAVING MUSK AS SOLE HEAD

Vivek Ramaswamy said on X he was leaving the Department of Government Efficiency and was “confident that Elon and the team will succeed in streamlining government.”

Entrepreneur and former presidential candidate Vivek Ramaswamy will no longer co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk, and is reportedly opting to run for Ohio governor instead.

“It was my honor to help support the creation of DOGE,” Ramaswamy said in a Jan. 20 X post. “I’m confident that Elon and the team will succeed in streamlining government.”  

Ramaswamy didn’t elaborate on his future plans, but CBS News and The New York Times were among the US media outlets reporting that the business leader and author would soon announce he is running run for governor of Ohio.

Ramaswamy said that he’d “have more to say very soon” while reaffirming his support for President Donald Trump.

“Vivek Ramaswamy played a critical role in helping us create DOGE. He intends to run for elected office soon, which requires him to remain outside of DOGE based on the structure that we announced today,” DOGE spokesperson Anna Kelly told the Associated Press.

Ohio Governor Mike DeWine’s second — and legally his last — term will end in January 2027.

On Jan. 18, Ramaswamy re-shared an X post from a parody account using this likeness that stated he was running for governor of Ohio, with the pro-crypto Republican commenting that it wasn’t “a bad idea.”

Politico reported that Musk made it known that he wanted Ramaswamy out of DOGE in recent days. A Republican strategist close to Trump’s advisers told Politico that Ramaswamy “just burned through the bridges and he finally burned Elon. Everyone wants him out of Mar-a-Lago, out of D.C.”

The move was driven in part by Ramaswamy’s criticism of American culture. In December, he made a post on X stating that tech companies hire foreign workers  partly because of a mindset that has “venerated mediocrity over excellence.”

The now-solely Musk-led advisory organization, named after his favored cryptocurrency Dogecoin, was officially created through one of a slew of executive orders that Trump signed on his first day in office.

DOGE is already on the firing line as it was hit with lawsuits from consumer advocate group Public Citizen and other nonprofit groups minutes after Trump took office.

The lawsuits allege that DOGE violates the Federal Advisory Committee Act by allowing private individuals to make government decisions without proper transparency and oversight.

DOGE, which was announced by Trump soon after his electoral victory in November, is designed to slash federal spending through budget cuts and mass firings.

@ Newshounds News™

Source:  CoinTelegraph

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“Tidbits From TNT” Tuesday Morning 1-21-2025

TNT:

Tishwash:  The largest oil reserve was discovered in central Iraq

The Middle Oil Company, in cooperation with the Chinese company (EBS), announced the achievement of a major oil discovery in the East Baghdad South Field.

The company's general manager, Mohammed Yassin Hassan, stated in a statement received by {Euphrates News} a copy of it that the main exploratory well testing operations in the East Baghdad field had achieved great success, as a highly productive oil flow of medium and light oil was obtained.

It is expected to add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq.

The Director General pointed out that the initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil.

Yassin praised the fruitful cooperation between Iraqi engineers at the Middle Oil Company and their counterparts at the Chinese EBS Company, which resulted in precise planning and strict implementation of well testing procedures in areas within the oil field.

This discovery is of strategic importance as it adds to Iraq’s oil reserves, which rank fifth in the world in proven reserves. This achievement also enhances the production capabilities of Iraq, one of the founding and influential members of the Organization of the Petroleum Exporting Countries (OPEC), which supports its pivotal role in the global energy market.  link

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Tishwash:  Al-Sudani in a telegram to Trump: We are committed to strategic relations under the umbrella of respect for sovereignty and non-interference

Prime Minister Mohammed Shia Al-Sudani sent a congratulatory telegram today, Tuesday, to US President Donald Trump, on the occasion of his assumption of office as President of the United States of America.

Al-Sudani indicated in the telegram, according to a statement from his office, a copy of which was received by {Euphrates News}, that Iraq aspires to strengthen the bonds of cooperation and partnership with the United States, within the framework of the strategic agreement and the common interests of the two countries, stressing the importance of working to support the foundations of stability, security and development regionally and internationally.

Al-Sudani stated that the Iraqi government adheres to strategic relations with the United States, and seeks to activate and expand the scope of implementing all bilateral memoranda of understanding, and bilateral security and economic coordination, under the umbrella of respect for sovereignty, non-interference in internal affairs, and supporting bilateral exchange in the cultural and technological fields, and the fields of investment and sustainable development.  link

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Tishwash:  President of the Republic: Our participation in Davos confirms Iraq's growing role in the global arena

President of the Republic Abdul Latif Jamal Rashid stressed that Iraq's participation in the Davos talks confirms its growing role in the global arena.

Rashid said in a tweet on the (X) platform, followed by the Iraqi News Agency (INA), "I am proud to see Iraq and the Kurdistan Region well represented in Davos, which is an important annual gathering of global leaders and thinkers. Our participation in these talks confirms Iraq's growing role in the global arena and our commitment to confronting common challenges through dialogue, innovation and cooperation."  link'

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Tishwash:  Directive from the Central Bank regarding the 5,000 dinar banknotes 

The Central Bank stressed, on Monday, that Iraqi banknotes are homogeneous in all their denominations and are accepted by all its branches, and that the delivery of one denomination and the rejection of another by certain banks is a violation of the law, requesting a list of the names of these banks.

text of document:  Date 1/16/2025

Federation of Iraqi Chambers of Commerce / President's Office

m/damaged currency

Greetings.

Your letter No. 1 dated 1/5/2025 regarding banks that refuse to receive small denomination banknotes and the (5,000) dinar denomination.

We would like to inform you that the instructions of this bank stipulate that Iraqi banknotes are homogeneous in their various categories, have absolute legal tender and are accepted by the Central Bank of Iraq, its branches, banks, institutions and the public. Discrimination between their categories by imposing a certain category on the public or refusing to receive a certain category is unacceptable and is considered a violation of the law.

We hope you will provide us with the names of the violating banks that refused to receive banknotes. With appreciation. link

Mot: Jumping Days 

Mot:  it Has Begun!!!!

MilitiaMan & Crew Iraq Dinar News-Global Attention-Budget Law-Internally- Externally-Media

MilitiaMan & Crew Iraq Dinar News-Global Attention-Budget Law-Internally- Externally-Media

1-20-2025

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=2xEwJfHPnUw

Seeds of Wisdom RV and Economic Updates Monday Evening 1-20-25

Good Evening Dinar Recaps,

MARK UYEDA NAMED ACTING SEC CHAIR AMONG TRUMP APPOINTMENTS

Members of the US Commodity Futures Trading Commission also announced on Jan. 20 that Caroline Pham would serve as acting chair, filling two crucial regulatory roles

US Securities and Exchange Commission member Mark Uyeda will be acting chair of the financial regulator as of Jan. 20 following an announcement from the Trump administration.

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

In a Jan. 20 notice from the White House, President Donald Trump said Uyeda would replace outgoing SEC Chair Gary Gensler in an acting capacity until the US Senate could confirm one of his nominees. Uyeda, a Republican, has served at the SEC since 2022 after being nominated by former US President Joe Biden.

Before taking office, Trump announced on social media that he planned to nominate former SEC Commissioner Paul Atkins to replace Gensler.

Atkins’ name appeared on a list of sub-cabinet appointments Trump said he had nominated to the Senate. It’s unclear when the chamber could consider his nomination as an SEC member.

Meanwhile, members of the US Commodity Futures Trading Commission announced on Jan. 20 that Commissioner Caroline Pham would serve as acting chair after Rostin Behnam stepped down.

The heads of the two financial regulators will be in a position to significantly influence policy related to digital assets.

As an SEC member, Uyeda criticized the commission’s approach to digital assets under Gensler, saying it “neither facilitates capital formation nor protects investors.” Under the former chair, the SEC filed several enforcement actions against US-based crypto firms, including Ripple Labs, Coinbase, Terraform Labs and Binance.

New administration, new approach to crypto?

It’s unclear what the status of these lawsuits will be under the Trump administration or Acting Chair Uyeda. The SEC will reportedly consider freezing all enforcement cases that don’t involve allegations of fraud.

Since taking the oath of office at 12:00 pm ET, Trump has not mentioned digital assets or blockchain on his first official day as US president. He had also pledged to commute the sentence of Silk Road founder Ross Ulbricht.

Reports suggested Trump was planning on signing an executive order potentially related to crypto, but the White House had not announced anything at the time of publication. Neither digital assets nor blockchain appeared on the administration’s list of policy priorities as they were first published on Jan. 20.

@ Newshounds News™

Source:  CoinTelegraph

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DONALD TRUMP APPOINTS CAROLINE PHAM AS ACTING CFTC CHAIR

The CFTC commissioner has previously called for regulating digital assets in her role with the financial regulator, which could change under Donald Trump.

In one of his first official acts after being sworn in as US president, Donald Trump will name Commodity Futures Trading Commission (CFTC) member Caroline Pham as the acting chair of the financial regulator.

In an announcement shared with Cointelegraph on Jan. 20, a representative of Commissioner Pham said she would replace former CFTC Chair Rostin Behnam temporarily until Trump could nominate a permanent head of the regulator whom the Senate could confirm.

She has been serving as a CFTC commissioner since April 2022 after being nominated by former US President Joe Biden.

“I’m humbled to lead the CFTC as Acting Chairman,” said Pham. “It is an honor to be entrusted to serve the American people during this pivotal time.”

Behnam announced in January that he planned to step down on the day of Trump’s inauguration. Though any new CFTC commissioner or chair would need to be confirmed by a majority of lawmakers in the US Senate after hearings, Trump has the authority to appoint temporary replacements under the Federal Vacancies Reform Act.

As a CFTC commissioner, Pham has called on the government to address crypto regulation and proposed initiatives to protect investors.

It’s unclear what roles the CFTC and Securities and Exchange Commission will have in regulating crypto under the Trump administration, with many US lawmakers suggesting they plan to pass legislation establishing a market framework.

Trump took the oath of office as US president on Jan. 20 but notably did not mention digital assets or blockchain technology in his acceptance speech. In one of his last acts as a private citizen before assuming office, he and his wife, Melania, announced the launch of memecoins, which critics claim allow anyone to funnel money indirectly into the first family’s pockets.

US crypto regulation under Donald Trump

The appointment of Pham is one of many actions potentially affecting the crypto industry Trump is expected to take on his first day in office. The US president said he intended to nominate former SEC Commissioner Paul Atkins to replace Gary Gensler as chair of the financial regulator — Gensler officially stepped down on Jan. 20.

In May 2024, Trump promised to commute the sentence of Silk Road founder Ross Ulbricht, and reports have suggested he plans to sign at least one executive order related to crypto or blockchain.

The White House is expected to announce what executive orders Trump will sign on Jan. 20, but reports suggested the number would be “close to 100.”

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Iraq Economic News and Points to Ponder Monday Afternoon 1-20-25

The Central Bank Calls For Caution In Reporting News And Clarifies The Outlets’ Operating Mechanisms 
 
January 18, 2025  The Central Bank of Iraq called for caution in transmitting and circulating news indicating the closure of exchange outlets, and  confirms that it has not issued any decision, directive, or statement regarding closing the outlets or converting them to exchange companies.

The recently issued Central Bank statement states:
 
Expanding the spread of cash delivery outlets through all available channels, including ATM machines and POC cash payment machines, as well as licensed exchange companies, electronic payment company outlets, and POS electronic payment machines spread throughout Iraq.
 
This bank emphasizes transferring news from its official sources, which are published on its official website and verified social media pages.
 
This was confirmed in his circulars issued to all parties in the Iraqi financial and banking sector, which included directing banks and non-banking financial institutions to expand their financial services in areas that lack the aforementioned services. 
Central Bank of Iraq  Media office   January 18, 2025    https://cbi.iq/news/view/2762 

Expectations Of An Increase In Electronic Payments

Second and third 01/19/2025  Baghdad: Rula Wathiq  Iraq has achieved 10 trillion dinars in total circulation through electronic payment from the government sector only so far, which will be part of the evaluation of the ministries working on it.
 
The head of the Osool Foundation for Economic Development and Sustainable Development, Engineer Khaled Al-Jabri, representative of the special committee for developing and evaluating electronic payment operations associated with the Council of Ministers, told Al-Sabah:
 
“The steps for electronic payment are progressing correctly, as Iraq has reached 10 trillion dinars from the government sector only. 

This number is usually a jump from what was achieved during this stage, and  it is expected that these amounts will increase by 30-40% at the beginning of next year.” He stated that the issue of
 
electronic collection is not without challenges, whether with the platforms on which it operates or the devices through which water and electricity services are paid, indicating that  there are steps to solve these problems as quickly as possible.

Al-Jabri confirmed that the  government has procedures to monitor electronic payment operations wherever they exist, and that it will be part of the evaluation of ministries that are working on the digital transformation process and their use of technical and technological tools.

He added that the electronic payment process cannot proceed without cooperation between the government and private sectors and the citizen, which is the focus of this process as a whole, noting that Iraq was able to activate these services compared to countries that took 6-7 years to activate them as a result of quick and serious measures in this field.      https://alsabaah.iq/108748-.html  

Advisor To The Prime Minister: Electronic Customs Declaration Prevents Smuggling And Reduces Corruption And Bribery

Economy    Yesterday, 11:13  Baghdad - WAA - Amna Al-Salami  Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Sunday, that the
 
electronic customs declaration program 
     prevents smuggling and 
     reduces corruption and bribery, and while he explained that it 
     facilitates accurate and rapid control and review, he indicated that it 
     reduces costs for importers.  Saleh told the Iraqi News Agency (INA):
 
"The program to develop the electronic customs declaration and its entry into force is an important and positive step towards improving customs performance in particular and enhancing the efficiency of the Iraqi economy in general."  He added that 
 
"the adoption of this electronic program for customs declaration represents an important part of the reform efforts branching from the government program in the field of e-governance and financial and economic reform aimed at modernizing administrative and financial systems, combating corruption, and raising the efficiency of Iraq's foreign trade," noting that
 
"this electronic system provides two important aspects of customs life in the development of customs policy applications in Iraq as one of the important arms of financial policy in our country:
 
     First, reducing human intervention in customs clearance operations, which reduces the opportunities for corruption and bribery."  He continued:
 
     "The second provides clear tracking of transactions, which facilitates effective, accurate and rapid customs control and review," indicating that "the
 
electronic customs declaration program will undoubtedly
 
     reduce the time required to complete customs declarations, in a way that
     supports the movement of trade and
     reduces the costs that fall on traders and importers, and
 
this change in the pattern of customs declarations encourages companies to import and export goods with ease and high speed."  He explained, "As for customs revenues, the program will contribute to
 
     providing accurate collection of customs duties in a way that prevents customs evasion, as taxes are a form of important public revenues that the government program seeks to raise within non-oil revenues, in addition to   reducing losses resulting from corruption or negligence in collecting related customs duties and taxes, as was previously followed and through manual methods and human intervention."

He pointed out that  "it gives the business environment in the national economy an advanced signal to investors and traders, and  its accurate operations should be positively reflected in the reports of international multilateral organizations within the framework of the progress of the business environment in our  country including the World Bank's periodic reports in this regard."  https://www.ina.iq/226125--.html

UN Supports Iraq In Recovering Stolen Assets And Combating International Corruption  Iraq

The United Nations has affirmed its full support for Iraq in its efforts to recover its stolen assets located in corruption havens abroad, in addition to tracking suspicious banking transactions.

The Resident Representative of the United Nations Development Programme, Auke Lootsma, stated that the programme supports Iraqi investigative journalists to enhance cooperation with international federations in uncovering stolen assets, enabling investigators to file cases and follow up on seizure and confiscation procedures.

Lootsma added that the programme is working to expand the scope of trial monitoring to include civil procedures for the recovery of stolen assets. He pointed out that the focus is not limited to strengthening compensation claims from public institutions, but rather extends to include the recovery of assets through civil courts.

He stressed that the success of the fight against corruption requires effective international cooperation to track and freeze illicit assets, limit suspicious financial flows, and hand over perpetrators. He called for activating bilateral agreements between Iraq and other countries, or using the mechanisms available under the United Nations Convention against Corruption.

Lootsma also explained that UNDP supports Iraq in improving the exchange of information on suspicious banking transactions, submitting mutual legal assistance requests to protect assets during investigations, and recovering them upon final judgments. He pointed out that the Iraqi government’s programme is participating in expanding its regional partnerships to combat corruption and enhance joint efforts.   https://www.radionawa.com/all-detail.aspx?jimare=41006

Exchange Rates Recorded 151,750 Dinars Per 100 Dollars In Baghdad

economy | 11:10 - 01/20/2025  Mawazine News – Baghdad  The exchange rate of the dollar against the Iraqi dinar witnessed a rise in the currency markets in the capital, Baghdad.

The dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,700 dinars for every 100 dollars, compared to what it recorded yesterday morning, Sunday, at 150,650 dinars for every 100 dollars.

The selling prices in exchange shops in the local markets in Baghdad reached 151,750 dinars, while the purchase price reached 149,750 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258809

Oil Prices Jump Above $81 A Barrel

economy | 08:26 - 01/20/2025  Mawazine News – Baghdad  Oil prices recovered in early trading on Monday, as supply concerns persisted after Washington imposed two rounds of sanctions in the past two weeks on Russia's energy sector over the war in Ukraine.

Market Moves By 0042 GMT, Brent crude futures were up 34 cents, or 0.4 percent, at $81.13 a barrel. They settled down 0.62 percent in the previous session. West Texas Intermediate (WTI) crude futures, which expire on Tuesday, were up 59 cents, or 0.8 percent, after settling down 1.02 percent on Friday.

The most active contracts for April rose 36 cents to $77.75 a barrel, according to Reuters data.

Both crudes gained more than 1 percent last week, their fourth straight week of gains, after the outgoing administration of US President Joe Biden imposed sanctions on more than 100 oil tankers and two Russian oil producers.

This led to a rush by major buyers, China and India, to secure immediate oil cargoes and a global rush to supply ships with oil, with Russian and Iranian oil traders looking for unsanctioned tankers to carry their cargoes.

Analyst Tim Evans said in Evans on Energy that the new sanctions are expected to tighten supplies, at least in the short term, according to Reuters.

“The rise in tanker rates for unsanctioned vessels and the widening divergence in crude oil prices are among the notable cascading effects, which have heightened supply concerns,” he added. But easing tensions in the Middle East limited oil price gains. Israel and Hamas exchanged hostages and prisoners on Sunday in the same day The first ceasefire after a 15-month war.

https://www.mawazin.net/Details.aspx?jimare=258802

Gold Falls As Tensions Ease, Markets Focus On Trump

Economy  | 01/20/2025 Mawazine News – Baghdad Gold prices suffered losses in early trading on Monday as tensions in the Middle East eased, dampening demand for safe-haven assets.

As investors await the inauguration of US President Donald Trump and clarity on the policies of the next administration. Price update Spot gold fell 0.4 percent to $2,690.81 per ounce, by 0140 GMT. US gold futures fell 0.5 percent to $2,734.90 an ounce, according to Reuters data.

Hamas released three Israeli hostages, while Israel freed 90 Palestinian prisoners on Sunday, the first day of a ceasefire that followed a 15-month war that devastated the Gaza Strip and ignited the Middle East.

Market players are awaiting Trump’s inauguration later on Monday, whose tariff policies are expected to stoke inflation, ignite trade wars and potentially increase the appeal of safe-haven assets. The future path of US interest will depend on how seriously the next administration implements Trump’s policy pledges.

According to a narrow majority of economists polled by Reuters, the Federal Reserve is likely to keep interest rates unchanged at its January 29 meeting and resume cutting them in March.

Among other precious metals, spot silver fell 0.7 percent to $30.13 an ounce. Palladium fell 0.3 percent to $944.25 an ounce. Platinum fell 0.2 percent to $940.05 an ounce.   https://www.mawazin.net/Details.aspx?jimare=258803

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-20-25

Dinar Recaps Note: Sorry, this is the same as our last Seeds of Wisdom post. The new post is up now ( link ).

Good Afternoon Dinar Recaps,

INCOMING PRESIDENT TRUMP SHOWS SUPPORT FOR INNOVATION, BUT MAKES NO MENTION OF CRYPTO DURING INAUGURATION SPEECH

During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.

Trump is also set to issue crypto-related executive orders.

In his return to Washington D.C. on Monday, Donald Trump touted his support for innovation, though did not specifically mention crypto during his inauguration speech on Monday.

“There’s no nation like our nation,” Trump said. “Americans are explorers, builders, innovators, entrepreneurs and pioneers. The spirit of the frontier is written into our hearts."

However, Trump did not mention crypto in a document titled "President Trump's America First Priorities" in an email sent out by the office of the press secretary. Punchbowl News earlier released the document.

During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.

Trump made several promises to the sector, including promising to commute Ross Ulbrucht's sentence, who is currently serving a life sentence without the possibility of parole for his role in creating and operating the dark web marketplace Silk Road, tied to bitcoin's early history.  

Trump also vowed to stop "Joe Biden's crusade to crush crypto" by ensuring the future of crypto will not be "driven overseas," supporting the right to self-custody and preventing the development of a central bank digital currency. Some Republican lawmakers have been staunchly opposed to a CBDC and say a CBDC could open the door to government surveillance of peoples' transactions.

Trump is reportedly poised to issue executive orders on his first day that could include creating a crypto council and ensuring that firms have access to banks, according to Reuters.

The Washington Post reported last week that Trump could also issue executive orders that encompass repealing the U.S. Securities and Exchange Commission's controversial crypto accounting guidance, SAB 121.

A potential crypto council could have anywhere between 10 to 100 members. Those members will presumably be crypto executives, but those decisions will be up to the firms to pick who will represent them in the council, said Ron Hammond, senior director of government relations at the Blockchain Association, in an interview with The Block last week.

Trump also plans to issue an executive order to set cryptocurrency as a national policy priority, Bloomberg reported last week, citing sources familiar with the matter.

Days before his inauguration, Trump's team launched the TRUMP token on the Solana blockchain which reached a market cap of over $9 billion.

Trump has also previously thrown his support behind the debut of World Liberty Financial, a DeFi protocol that counts former that counts the President-elect as its "chief crypto advocate." That project was criticized by some crypto pundits who called it "a meme masquerading as a utility project."

@ Newshounds News™

Source:  The Block

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OVER $200B WIPED FROM CRYPTO MARKETS AFTER TRUMP IGNORES CRYPTO IN CEREMONY SPEECH

The total crypto market cap dumped toward $3.6 trillion.

Donald Trump’s highly anticipated inauguration ceremony officially took place, and he is now the 47th US president.

Despite the numerous reports ahead of time about potentially including crypto in his speech, Trump failed to mention it even once, which triggered a massive crash for the entire market.

Just as the inauguration began, BTC’s price tumbled by over five grand, going from more than $107,000 to under $102,000 in minutes.

However, it managed to recover some ground and spiked to $105,000 during the speech. However, once that concluded and it became evident that Trump will not mention the digital asset industry at all, BTC and the rest of the market headed south immediately.

BTC’s nosedive took it south to $100,500 (for now). Many altcoins bled even more heavily, including Trump’s official meme coin. 

The recently launched asset is down by over 20% in the past hour alone and now struggles to remain above $40. Recall that it peaked above $70 earlier today but has faced a lot of competition and criticism following the launch of Melania Trump’s alternative.

Other massive losers include SPX, FARTCOIN, HBAR, WIF, LINK, AAVE, WLD, TIA, BONK, and more, as all of them have dropped by more than 6% in the last hour.

The total crypto market cap went from a daily high of over $3.850 trillion to $3.6 trillion during the crash.

The wrecked positions have shot up to nearly $200 million within that same timeframe. Almost 400,000 traders have been liquidated on a daily scale, according to data from CoinGlass.

@ Newshounds News™

Source:  Crypto Potato

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US CBDC ‘IS DEAD’ UNDER TRUMP, BUT STABLECOINS COULD BE SET TO EXPLODE

President Donald Trump has promised to “never allow” a CBDC in the United States, but stablecoin adoption is well on its way.

Now that US President Donald Trump has taken his oath of office, the chances for a US central bank digital currency (CBDC) are all but finished.

Trump has been a vocal opponent of CBDCs, promising on the campaign trail in New Hampshire in 2024 that he would “never allow the creation of a central bank digital currency,” as he claimed it would give the government “absolute control over your money.”

Trump made the promise early on in the campaign, back in January 2024, but there’s little to suggest that the president has changed his mind. Top picks for Trump’s Cabinet and prominent members of the Republican-controlled Congress have also vocally opposed a CBDC.

However, US lawmakers are still focused on proliferating digital currencies. In the absence of a digital dollar and with significant bipartisan support, stablecoin adoption could see significant growth under the incoming administration.

CBDCs are dead; long live the stablecoin

“CBDC in the US is dead under Trump,” Geoff Kendrick, global head of digital assets research at Standard Chartered, told Cointelegraph. “Instead, they’re going down the private stablecoin route, and the Fed has no control over that.”

Indeed, stablecoin legislation is already making its way through the system. In the House of Representatives, Rep. Patrick McHenry introduced the Clarity for Payment Stablecoins Act of 2023, while in the Senate, Wyoming Republican Senator Cynthia Lummis and New York Democratic Senator Kirsten Gillibrand submitted the Lummis-Gillibrand Payment Stablecoin Act.

These bills would provide regulatory guardrails that the industry has been saying it needs in order to succeed.

Some have suggested the industry could see new stablecoin regulations soon, as it would be a quick win for representatives on both sides of the aisle, who will need to defend their seats again in 2026.

Kendrick said, “I think, under Trump, you’ll get passage in the next few months of a stablecoin bill that creates regulation. You’ll then probably get more TradFi players issuing stablecoins in the US [...] and you’ll also get more surety behind the two largest stablecoins, Tether and USDC.”

The pivot to private stablecoins can be explained by two important factors: the clear privacy concerns surrounding CBDCs and the fact that central banks are having a hard time convincing the public of their benefits.

CBDCs raise concerns about privacy and government oversight

Reuters and The Washington Post have reported that the Trump administration is planning mass dismissals of federal employees, paving the way for them to be replaced by appointees loyal to the administration.

Administration spokesperson Brian Hughes told Reuters, “The Trump Administration will have a place for people serving in government who are committed to defending the rights of the American people, putting America first, and ensuring the best use of working men and women’s tax dollars.”

This rhetoric fits into the wider Republican skepticism of government involvement in the financial industry and the desire to deregulate that industry broadly. It comes as no surprise then that CBDCs, which are already a subject of public privacy concerns, should be a target.

John Kiff, a digital currency expert and former senior financial sector expert at the International Monetary Fund, told Cointelegraph that users “want cash-like anonymity and privacy, but central banks are reluctant to offer that as they bend the knee to financial integrity laws and regulations” like Anti-Money Laundering and Countering the Financing of Terrorism laws.

Kiff said, “Purported benefits are related to such things as increasing financial inclusion and reducing the costs to users and merchants of transactions.”

Trump himself suggested that, with a CBDC, the government “could take your money, and you wouldn’t even know it was gone.”
@ Newshounds News™

Read more:  CoinTelegraph   

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@ Newshounds News™

Source:  Rumble

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