They Debased USD Reserve and Destroyed our Industries

They Debased USD Reserve and Destroyed our Industries

Liberty and Finance:  3-24-2025

The U.S. economy has been grappling with persistent trade deficits for decades, sparking heated debates about their impact on American manufacturing, jobs, and overall prosperity.

 In a recent discussion with Liberty and Finance, journalist and founder of The Brownstone Institute, Jeffrey Tucker, delved into the intricate web of factors contributing to these deficits and offered a compelling perspective on potential solutions.

Tucker began by exploring the historical trajectory of American manufacturing, lamenting the decline in factories and the loss of domestic production. He argued that a complex interplay of factors, beyond simple protectionism, has contributed to this shift.

 Highlighting the global reach and influence of the U.S. dollar, Tucker explained its crucial role in international trade. The dollar’s status as the world’s reserve currency, while offering certain advantages, also creates unique challenges in addressing trade imbalances.

One of the key concepts Tucker emphasized was the importance of the price-specie flow mechanism, a classical economic theory that describes how trade imbalances are naturally corrected over time.

This mechanism posits that a nation with a trade deficit will experience an outflow of gold (or other precious metals, historically), leading to a decrease in its money supply and a subsequent fall in prices. This, in turn, makes its goods more competitive on the global market, eventually correcting the trade imbalance.

However, Tucker argues that this natural corrective mechanism has been significantly hampered by modern monetary policies and interventions. He criticizes government policies that distort market signals and interfere with the natural flow of capital.

Tucker also acknowledged the complexities arising from global currency dynamics, recognizing that international trade is not simply a matter of bilateral agreements between nations. He argued that understanding and adapting to the ever-changing global economic landscape is crucial for navigating the challenges of trade deficits.

Ultimately, Tucker’s perspective offers a sobering yet optimistic view of the path forward for the American economy. By embracing policies that promote economic freedom, reduce government intervention, and foster a competitive business environment, he believes the U.S. can revitalize its manufacturing sector, improve its trade balance, and secure a more prosperous future.

 His insights provide a valuable contribution to the ongoing debate surrounding trade deficits and offer a framework for considering alternative approaches to economic policy.

 While the solutions are complex and multifaceted, Tucker’s emphasis on deregulation, free markets, and sound monetary policy offers a compelling starting point for a much-needed conversation.

https://youtu.be/woARYDsUUKo

Iraq Economic News and Points to Ponder Tuesday AM 3-25-25

Iraq Confronts Economic Crises With Digital Dinar, Parallel Market Threatened With Extinction
 
Reports  Economy News – Baghdad  The Central Bank of Iraq is preparing to launch the digital dinar, 
marking the transition to digital currency management. The  digital dinar is a digital currency issued by the central bank,  officially part of a country's monetary system.
 
It is  similar in value to the traditional dinar, but is   traded electronically via digital wallets or approved financial applications.

It
 
     facilitates instant money transfers within the country or across borders,
     reduces the logistical burden of issuing paper or metal currency, and
     enables broader segments of society to access digital financial services.
 
This project comes in light of the 
significant economic challenges facing Iraq, such as its
 
     heavy reliance on paper money and the phenomenon of
     hoarding.
 
The digital dinar aims to address these challenges by providing a safe and effective digital alternative to paper money.
 
Central Bank Governor Ali Al-Alaq had previously stated during a speech he delivered at the Finance and Banking Conference and Exhibition that
 
"the financial and banking system will witness fundamental transformations, including the
 
     decline of paper currencies and their
     replacement by digital payments for central banks." He explained that
 
"the Central Bank is moving to create its own digital currency, which will gradually replace paper transactions, as is the case with some central banks around the world."
 
Mazhar Saleh Mohammed, the Prime Minister's advisor for financial and banking affairs and former deputy governor of the Central Bank,
 
highlighted the
 
     importance of the digital dinar and
     its relationship to the dollar exchange rate in local markets.

Speaking to Al-Eqtisad News, Mohammed emphasized that the
 
digital dinar is a global trend in the development of payment systems, particularly in the description of monetary units that will acquire digital rights bearing the same legal force issued by the monetary authority as banknotes in the discharge of debts, as
 
they are units of
 
     account,
     exchange, and
     storage of value
 
within the digital economic community and via a highly sophisticated, rapid, and accurate information system.

He added that these monetary units will be used with
 
     high transparency to
     cover various real transactions of goods and services, as well as to
     settle small and large obligations. He noted that
 
all exchange transactions will be transparently recorded between traders, up
to the point of purchasing a loaf of bread, under the supervision of the monetary authority, thus
 
ending the ambiguous or illegal uses of money once and for all.
 
Regarding the digital dinar's relationship to exchange rates,
 
Al-Sudani's advisor explained that the
 
official exchange rate will be the prevailing and sole rate, the digital exchange rate adopted by monetary policy.
 
The parallel market will disappear in its current form, as
 
it is difficult to invent a secondary digital market whose operations operate outside the control of the digital monetary authority. However,
 
usurious digital markets may emerge among the same traders. He pointed out that the
 
digital cash system provides the banking system with sufficient digital cash liquidity to grant loans without the risk of liquidity risk within banking markets.

This
 
     encourages investors to borrow easily,
     increases economic growth levels, and
     promotes sustainable development. It also
     facilitates access to global digital exchanges for global payments and settlements.
 
"Introducing digital currency requires two things," according to the Prime Minister's advisor. He explained that the
 
first is a high level of public awareness of the digital monetary system, while the
 
second is the availability of an advanced information, communications, and data technology infrastructure that evolves continuously over time. He pointed to the
 
need for a legal infrastructure to protect digital currency transactions, particularly in
protecting the rights of users to their income and wealth, which
cybersecurity provides against any dangerous digital breaches.
 
Many questions are being raised about the digital dinar and its differences from cryptocurrencies, which economic expert Ziad Al-Hashemi answers. Al-Hashemi points to
 
a "significant difference" between digital currencies and cryptocurrencies:
 
"The former are issued and regulated by central banks, such as the digital dollar and the digital dirham, while
 
cryptocurrencies such as Bitcoin are not subject to any official authority and
 
their value depends on supply and demand, making them highly volatile." He stated that
 
if the Central Bank of Iraq issues the digital dinar,
 
it will be the sole entity
 
     controlling the issuance and distribution of the digital currency,
     facilitating oversight and
     preventing financial crimes,
 
unlike cryptocurrencies, which operate on a decentralized system that is difficult to control. He pointed out that the
 
digital dinar will be fully backed by the central bank and have a relatively stable value, similar to paper currency.

However, it will be
     traded electronically only through bank accounts and wallets, contributing to
     reducing the use of paper money,
     achieving financial inclusion, and
     reducing reliance on the dollar in daily transactions. Al-Hashemi noted that the
 
primary goal of this step is to eliminate the phenomenon of cash hoarding, whereby citizens hold large sums of money outside banks due to lack of confidence in the banking system.
 
This hinders the flow of funds and negatively impacts economic activity.
 
If the project implemented well, the
 
digital dinar could help

     disburse hoarded liquidity and

     stimulate lending and credit.
 
views 1872     Added 03/17/2025 - 10:31 AM    
  
https://economy-news.net/content.php?id=53480   

Rafidain Bank Director: Money laundering poses a direct threat to economic systems.
 
March 24, 2025

Baghdad/Iraq Observer
 
Rafidain Bank's General Manager, Ali Al-Fatlawi,
highlighted the importance of the AML system in enhancing financial transparency, noting that
 
the bank has taken important strategic steps in the field of combating money laundering and terrorist financing. “In light of the
 
escalating challenges associated with financial crimes globally, anti-money laundering (AML) systems have become a top priority for financial institutions and governments, as
 
they are the cornerstone of protecting the integrity of financial markets and enhancing economic stability,” said Ali Al-Fatlawi, General Manager of Rafidain Bank, in a televised interview followed by “Iraq Observer.”  

He indicated that
 
“with countries committed to implementing strict international standards in this area,
 
Rafidain Bank stands out as a leading Iraqi financial institution that has adopted the latest monitoring and compliance systems,
 
which strengthens Iraq’s position in the global financial system.”
 
Regarding the importance of the anti-money laundering system and its role in financial stability, Al-Fatlawi explained that
 
“money laundering poses a direct threat to economic systems, as
 
it enables illegal activities to integrate into the financial system,
leading to monetary instability and weakening economic policies.” He added,
 
“For this reason, financial institutions implement strict measures to ensure compliance with global standards, such as the Financial Action Task Force (FATF) recommendations, which establish a comprehensive framework to combat these financial crimes.” He pointed out that
 
“the Anti-Money Laundering (AML) system aims to prevent, analyze, and detect suspicious financial activities,
 
through mechanisms that include:
 
- Customer identity verification (KYC) to ensure knowledge of the true sources of funds.
 
- Monitor financial transactions to detect any unusual activity.
 
- Immediately report suspicious transactions to regulatory authorities.

-Using modern technology in financial analysis to enhance the efficiency of detecting illegal activities.” He continued,
 
"These practices not only
     enhance the transparency of financial markets, but also
     contribute to raising countries' financial ratings and
     improving the business and investment environment." He explained that
 
"Rafidain Bank, as a banking institution with a significant market share in Iraq,
 
continues its pioneering role in developing the local banking infrastructure in accordance with the latest international standards." He emphasized that "in recent years,
 
the bank has taken significant strategic steps in the field of combating money laundering and terrorist financing,
 
reflecting its unwavering commitment to enhancing financial transparency and achieving full regulatory compliance."
 
Regarding the launch of the Anti-Money Laundering (AML) system, he stressed that “in a qualitative step,
 
Rafidain Bank announced the launch of an advanced system to monitor daily banking transactions across its branches,
 
making it the first Iraqi bank to adopt this regulatory approach in accordance with the latest global banking technologies.” He noted that
 
“this project was implemented in partnership with specialized international institutions, as
 
it aims to analyze and track all financial transactions in real time, which contributes to
 
enhancing the level of banking security and

combating any illegal attempts at money laundering.” He explained that
 
"the system's first phase included six major branches of regulatory importance, including Al-Waziriyah, Al-Muheet, Al-Rafie, Al-Dura Oil Complex, Zurbatiyah, and Safwan,
 
with the plan to gradually expand to the remaining branches.

This system is characterized by its ability to:
 
-Identify suspicious financial activities immediately, enabling rapid response.
 
- Analyzing big data and its cross-reference with international sanctions lists, ensuring full compliance with regulatory standards.
 
-Improving financial audit efficiency by shifting from paper-based processes to smart digital systems. He pointed out that
 
"this initiative confirms that Rafidain Bank is adopting a proactive approach to combating financial crimes, which strengthens its position as a trusted banking institution within Iraq, regionally, and internationally."
 
Regarding the economic and regional repercussions of adopting AML systems in Iraq, Al-Fatlawi explained,
 
"Rafidain Bank's commitment to best practices in combating money laundering leads to strategic outcomes that extend beyond the bank itself to encompass the Iraqi economy as a whole.
 
Advanced banking systems that adopt cutting-edge AML technologies enable:
 
- Achieving financial stability by preventing illicit money flows, which may negatively impact cash liquidity and price fluctuations.
 
- Strengthening international banking relations, as compliance with global standards enhances opportunities for establishing partnerships with foreign correspondent banks, facilitating the smooth flow of financial transfers and foreign investments.
 
- Stimulating foreign direct investment, as international investors seek safe financial environments free from regulatory risks.
 
- Improving Iraq's global financial reputation, which will contribute to raising the Iraqi banking system's rating with international financial institutions. He continued,
 
"Rafidain Bank is at the forefront of banking transformation, as the
 
progress it has made in implementing anti-money laundering systems reflects its commitment to international standards and its keenness to protect the Iraqi banking sector." He indicated that
 
"by employing advanced financial technology, a strict commitment to transparency, and integration with international regulatory systems,
 
the bank continues its role as a pivotal financial institution in supporting financial integrity and economic stability." He continued,
 
"As the Iraqi banking sector continues its digital transformation,
 
Rafidain Bank's experience represents a successful model for balancing regulatory compliance with technological advancements,
 
paving the way for a more transparent and reliable banking future, both domestically and internationally."     https://observeriraq.net/مدير-مصرف-الرافدين-غسل-الأموال-يمثل-ته/  

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-25-25

Good Morning Dinar Recaps,

CRYPTO NEWS: ACTING CHAIR STANDS ALONE, VOTES AGAINST SUING MUSK FOR STOCK DISCLOSURE DELAY

▪️SEC lawsuit against Elon Musk faces internal divisions, with acting chair Mark Uyeda opposing legal action over Musk's Twitter stock purchase.

▪️Musk’s SEC lawsuit sparks debate on securities laws for tech executives amid shifting crypto enforcement and regulatory priorities.

The U.S. Securities and Exchange Commission (SEC) has faced internal divisions regarding its decision to pursue legal action against Elon Musk. Mark Uyeda, the acting SEC chair, was reportedly the only commissioner who opposed suing Musk over his delayed disclosure of his stock purchase in Twitter, now rebranded as X.

According to a report by Reuters, this decision comes at a time when the SEC is dealing with shifting priorities and challenges within the agency. The vote to determine whether Musk should face a lawsuit took place behind closed doors, with Uyeda breaking from the other commissioners who favored legal action.

The SEC had formally filed a lawsuit against Musk in January 2025, alleging that he violated federal securities laws by failing to disclose his acquisition of more than 5% of Twitter’s stock in 2022. This failure to file the necessary report allowed Musk to purchase additional shares at artificially low prices, potentially saving him millions of dollars.

SEC’s Changing Stance

The SEC has been adjusting its approach to regulating cryptocurrency, easing enforcement actions against companies such as Ripple, OpenSea, and Coinbase. This more lenient stance has sparked discussions about the agency’s evolving priorities.

Musk’s involvement in the Trump administration has also generated attention. He was appointed by former President Donald Trump to lead the newly established Department of Government Efficiency, a role designed to streamline regulatory practices. Musk’s relationship with Trump continues to raise speculation about potential influence on regulatory decisions.

The SEC’s case against Musk brings to attention the ongoing debate about how securities laws apply to tech executives, particularly in the changing digital asset space. The outcome of this lawsuit could have significant implications for future regulatory actions in the U.S.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

RIPPLE CEO BRAD GARLINGHOUSE PREDICTS ‘TRUMP EFFECT’ WILL SPARK CRYPTO ADOPTION WAVE IN 2025

Ripple CEO Brad Garlinghouse is predicting crypto adoption will soar this year as US President Donald Trump embraces the industry.

In a new interview with Fox Business, Garlinghouse says that since the United States is no longer stifling the crypto industry with unnecessary lawsuits and regulation by enforcement, the growth of the digital assets sector is poised to skyrocket.

“Once the United States government filed suit, we really were kind of frozen in the US market, and so about 95% of our customers today, Ripple’s customers, are non-US financial institutions, and those are some of the largest financial institutions, ranging from HSBC and BBVA to payment providers you wouldn’t necessarily have heard of. Markets like Japan, I think are still unlocking.

The market opportunity here is massive. You have trillions of dollars flowing cross-border globally. It’s still largely dominated by the Swift network, if you will. That’s a technology architecture that was developed 50 years ago. There’s an opportunity to modernize.

That takes time, particularly when you have a government in the US kind of combating that innovation. But that’s changing now. The Trump effect, if you will, is profound. You’re seeing that in asset prices, but you’re also going to see that in the adoption of these technologies.”

The Ripple CEO also says that blockchain technology may be adopted for a number of uses, including the trading of stocks and the selling and buying of real estate.

“We’re definitely already seeing a change in the domestic interest. These six weeks after President Trump was elected, we signed more deals in the United States than we had in the previous six months. So these are very innovative technologies.

I think they’re going to play out over 10, even 20 years, in terms of how they integrate and rewire the financial infrastructure of the United States. That’s across payments, that’s across even the settlement of maybe real estate transactions, securities transactions.

So I think we’re going to see this play out over a long arc, but the United States is finally unlocked, and I think people are underestimating how big that change is, and you’ll see that continue to play out this year.”

@ Newshounds News™
Source:  DailyHodl

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 3-25-2025

TNT:

Tishwash:  Look: UAE issues new polymer Dh100 banknote, in circulation from today

The new currency features the Etihad Rail, the Um Al Quwain National Fort and the Port of Fujaira

The Central Bank of the UAE (CBUAE) has launched a new Dh100 banknote. The currency note is made of polymer and features innovative designs and advanced security features.

The new banknote will be circulated with the existing Dh100 note starting today, March 24. All banks and exchange houses have been instructed to programme their cash deposit machines and counting devices to ensure seamless acceptance of the new notes alongside existing paper and polymer ones, the value of which is guaranteed by law.

The new banknote's design is distinctive, employing various shades of red. The CBUAE maintained the colour characteristics of the current denomination. Furthermore, the design incorporates the UAE nation brand, with drawings and inscriptions created using advanced printing techniques. link

Tishwash:  The House of Representatives completes the first reading of the draft law on the Popular Mobilization Forces

 On Monday, the House of Representatives completed the first reading of the Popular Mobilization Forces Law.

Al-Maalouma correspondent said, “The House of Representatives held its session, chaired by Mahmoud Al-Mashhadani, with 170 representatives in attendance, to vote on the items on the agenda.”

He added, "The Council has completed the first reading of the draft law of the Popular Mobilization Authority."

He stated that "Parliament completed the first reading of the cancellation of the rating of the agreement exempting holders of diplomatic and service passports from entry visas between Iraq and Cyprus."  link

***********

Tishwash:  To provide alternatives to Iranian gas, Iraq is moving toward importing gas from Qatar, Indonesia, Algeria, and Brazil.

The Prime Minister's Advisor for Electricity Affairs, Adel Karim, confirmed on Tuesday that the Iraqi government is continuing its efforts to ensure stable energy supply, noting that there is a plan to supply gas via a floating platform from four countries.

"The situation is currently good, and we have taken several measures," Karim said, according to the official agency. "Prime Minister Mohammed Shia al-Sudani has directed the import of diesel from neighboring countries and the completion of the floating platform in Khor al-Zubair. Iraq is working to provide alternatives to gas from several countries, including Qatar, Algeria, Indonesia, and Brazil, in addition to other countries within the global market."

He explained that "the volume of imports via the floating platform will reach 400 cubic meters per day, equivalent to a production capacity ranging between 1,500 and 2,000 megawatts of electricity."

Regarding gas self-sufficiency plans, the advisor noted that "the government has made progress on associated gas investment projects and gas fields, and Iraq is expected to begin receiving significant quantities of domestic production between 2026 and 2029, which will help reduce reliance on imports."

Regarding current energy needs, he explained that "the government has referred a number of major power plant projects for implementation, with a production capacity of up to 35 megawatts, which will help reduce the deficit in the coming years."

Regarding the upcoming summer, the advisor pointed out that "there are two major problems: the first is the availability of fuel for power plants, which the government is working to address, and the second is the growing demand for energy due to population expansion and increased consumption." He emphasized that "efforts are continuing to ensure the stability of the electrical system in all governorates."  link

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

Tishwash:  Iraq ranks sixth in the Arab world and 68th globally in the Purchasing Power Index.

Numbeo, a website specializing in the living standards of countries around the world, ranked Iraq sixth in the Arab world and 68th globally in the 2025 Purchasing Power Index.

The website stated in its latest report, reviewed by Shafaq News Agency, that Iraq scored 54.5% on the index, out of a list of 139 countries.

Globally, Qatar topped the rankings with a score of 177.9%, followed by Luxembourg with 177.1%, Kuwait with 174%, Switzerland with 159%, Oman with 152%, the United States of America with 146.7%, and Saudi Arabia with 146.1%.

The report also indicated that Guernsey ranked eighth with a score of 136%, followed by Australia in ninth place with 135%, and Denmark in tenth place with 133%.

In the Arab world, Qatar topped the list, followed by Kuwait, Oman in third place, Saudi Arabia in fourth place, and Bahrain in fifth place. Iraq came in sixth place, followed by Jordan, Libya, Morocco, and Lebanon in tenth place.

At the bottom of the global rankings, Cuba, Syria, and Cameroon, respectively, were among the lowest in the purchasing power index. link

Mot:  ... Trying Not to Brag – But 

Mot: Moseying and High tailin  

MilitiaMan & Crew-Iraq Dinar News-Expedite Budget-Global Developments-Single Window-Digital Dinar-IMF-Revaluation

MilitiaMan & Crew-Iraq Dinar News-Expedite Budget-Global Developments-Single Window-Digital Dinar-IMF-Revaluation

3-24-2025

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=w4AviVKQijs

Seeds of Wisdom RV and Economic Updates Monday Evening 3-24-25

Good evening Dinar Recaps,

HOW WILL TRUMP’S “LIBERATION DAY” TARIFFS IMPACT BITCOIN PRICE?

▪️Trump’s “Liberation Day” on April 2 aims to reshape trade policies but could spark global volatility.

▪️Analyst Alex Kruger warns April 2 could be 10x more impactful than Federal Reserve meetings.

▪️Experts predict a harsh tariff policy could crash the market by 10% to 15% rapidly.

Financial markets started the week with gains, but a storm could be brewing. April 2, dubbed “Liberation Day” by U.S. President Donald Trump, marks the rollout of new tariffs targeting countries with trade barriers against the U.S. Trump says this will strengthen the American economy, but experts warn it could unleash serious market chaos.

Crypto markets are already reacting- Bitcoin has surged to $87,230, while Solana’s SOL is up nearly 6% to $138.

But that might just be the beginning. With global markets on edge and uncertainty running high, the real question is: will April 2 bring a financial boost or a major meltdown?

What Is Happening on April 2?

On April 2, the U.S. government will introduce a new round of tariffs. Trump sees this as a move to strengthen the U.S. economy, but analysts worry it could cause financial instability worldwide.

Economic expert Alex Kruger says this could be the biggest market event of the year – possibly “10 times bigger” than any Federal Reserve meeting.

Kruger explains that the market’s reaction will depend on how strict Trump’s tariffs are. If the tariffs are mild, the market may rise sharply. But if Trump announces harsh trade rules, the market could fall by 10% to 15% very quickly.

Investors Prepare for Market Swings

Some analysts warn that the impact of these tariffs could hit hardest around mid-April, just as U.S. Tax Day approaches—already a volatile period for financial markets.

Meanwhile, other countries are working to reduce trade tensions. Mexico’s President Claudia Sheinbaum is in talks with the U.S. to address immigration and crime, hoping to avoid economic fallout. However, experts say this may not be enough to prevent market risks.

Tariffs Already Causing Disruptions

The effects of Trump’s trade policies are already being felt. In February, he raised tariffs on Canadian, Mexican, and Chinese imports, causing an immediate downturn in the crypto market. Bitcoin plunged from $105,000 to $92,000, and the total crypto market cap dropped by 8% in a single day.

With just days left until April 2, investors are bracing for major market swings. If the tariffs are aggressive, both stock and crypto markets could experience extreme volatility.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

BITCOIN AND STOCK MARKET RALLY HARD AS WHITE HOUSE NARROWS SCOPE OF TARIFFS

Digital assets and equities are soaring on the weekly open amid renewed optimism stemming from the White House taking a softer tone on tariffs.

While tariff threats initially sparked one of the worst stock market drawdowns in recent memory, reports are now suggesting that President Trump’s aggressive trade negotiations may be in the process of a smooth resolution.

Citing “US officials familiar with the matter,” Bloomberg reports that Trump’s reciprocal tariffs may be more targeted than initially anticipated, with some countries being exempt, and some sector-specific levies being delayed by the White House.

The Wall Street Journal reported similar information.

"All major stock indices opened the week well into the green, while Bitcoin (BTC) is up 3% on the day and is now up 15% from its 2025 low near $76,500."

Said Tobin Marcus of Wolfe Research in a note seen by CNBC,

“Omitting the sectoral tariffs from the April 2nd package significantly reduces both its aggregate scale and the maximum rate on targeted sectors, given that all of Trump’s tariffs to date have been designed to stack… The ceiling for reciprocal tariffs on April 2 remains dramatic, and we still expect a negative market reaction, but the scale won’t be as severe and the sectoral impacts won’t be as concentrated.”

However, in a post on Truth Social, President Trump announced that “secondary tariffs” would be placed on Venezuela and any country that purchases oil and/or gas from the country.

Trump cited numerous reasons, including “the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature.”

@ Newshounds News™
Source:  DailyHodl

~~~~~~~~~

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Iraq Economic News and Points to Ponder Monday Afternoon 3-24-25

Baghdad Informs Washington: Iran Used Iraqi Documents To Sell Its Oil

Energy  Economy News – Baghdad  Following accusations against Iraq regarding SOMO's involvement in selling Iranian oil as Iraqi oil to help Tehran circumvent sanctions, Oil Minister Hayan Abdul Ghani revealed US-Iraqi talks on the matter.

Abdul Ghani said, "US naval forces seized Iranian tankers carrying oil and found documents indicating that it was Iraqi oil, even though it was Iranian."

Forged Documents

He added in statements to state television yesterday that "it later became clear that these documents were forged, as these Iranian tankers had forged them to sell oil to international companies as Iraqi oil."

He also confirmed that the Iraqi authorities "spoke with the American side to clarify the details of this case, and that Iraq has nothing to do with it." He explained that the American side understood the matter.

Oil Refinery In Iraq

These statements came after information emerged in recent months about SOMO's involvement in exporting and smuggling Iranian oil, amid threats of US sanctions against the company. SOMO had previously denied these accusations.

On the 19th of this month, the Iraqi Navy announced the seizure of an unidentified vessel in Iraqi territorial waters in the Gulf, suspected of smuggling fuel.

It's worth noting that since the US unilaterally withdrew from the 2015 nuclear agreement, Washington has tightened its sanctions on Tehran and reimposed stifling restrictions on certain sectors, particularly oil.    https://economy-news.net/content.php?id=53726

Iraq Denies Any Connection To Oil Tankers Seized With Forged Documents.

Iraqi Oil Minister Hayan Abdul Ghani revealed that Baghdad received verbal messages from Washington regarding the US Navy's seizure of tankers carrying Iranian oil in the Gulf using Iraqi documents, stressing that Iraq informed the United States that these documents were forged.

Abdul Ghani explained, in a television interview, that some Iranian traders use fake documents, but that Iraq has nothing to do with these operations. He confirmed that the State Oil Marketing Organization (SOMO) monitors all its shipments via satellite, emphasizing that export operations through the company are transparent, as sales are only made to companies that own refineries, which distinguishes Iraq from others.

The minister indicated that some traders attempted to change the destination of shipments to take advantage of price differences between Asian and European markets, but SOMO took strict measures against them, including blacklisting some of them. He stressed that the company did not commit any violations in the export operations.  https://www.radionawa.com/all-detail.aspx?jimare=41459

Oil Prices Stabilize Amid Anticipation Of Russia-Ukraine Talks

Energy  Economy News – Baghdad   Oil prices stabilized on Monday as investors assessed the prospects for ceasefire talks aimed at ending the war between Russia and Ukraine, which could lead to increased Russian oil imports into global markets.

Brent crude futures fell 8 cents, or 0.1%, to $72.08 a barrel by 00:46 GMT.

U.S. West Texas Intermediate crude fell five cents, or 0.1%, to $68.23.

Oil prices rose on Friday, posting gains for the second consecutive week, as new US sanctions on Iran and the latest OPEC+ production plan raised expectations of tighter supplies.

A US delegation will seek progress toward a Black Sea ceasefire and a broader cessation of violence in the war in Ukraine when it meets for talks with Russian officials on Monday, following discussions with Ukrainian diplomats on Sunday.

OPEC+—the Organization of the Petroleum Exporting Countries and its allies, including Russia—on Thursday issued a new schedule for seven member countries to further cut oil production to compensate for pumping above agreed levels. This will go beyond the monthly production increases the group plans to implement next month.

Market participants are also monitoring the impact of new US sanctions on Iran announced last week.

Iranian oil shipments to China are expected to decline in the near term following new US sanctions on a refinery and oil tankers, which have led to higher shipping costs. However, traders said they expect buyers to find alternative solutions to keep at least some volumes flowing.
https://economy-news.net/content.php?id=53718

Iraq's Oil Exports To The US Last Week Exceeded 200,000 Barrels Per Day

Sunday, March 23, 2025 11:07 | Economic  Number of reads: 255  Baghdad / NINA / The US Energy Information Administration announced, on Sunday, an increase in Iraqi oil exports to the United States during the past week.

The administration said in a table, "The average US imports of crude oil during the past week from 8 major countries amounted to 4.673 million barrels per day, a decrease of 904 thousand barrels per day compared to the previous week, which averaged 5.577 million barrels per day."

It added that the average "Iraqi oil exports to America increased significantly, reaching 202 thousand barrels per day, an increase of 32 thousand barrels per day compared to the previous week, which averaged 170 thousand barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Colombia, Venezuela and Saudi Arabia."

According to the table, "the amount of US imports of crude oil continued from Mexico, Nigeria and Brazil at lower rates." / End   https://ninanews.com/Website/News/Details?key=1193490

By This Date, The Government Plans To Increase Oil Production To More Than 6 Million Barrels Per Day

Energy Economy News – Baghdad   The Ministry of Oil announced plans on Sunday to increase production to more than 6 million barrels per day by 2029, while also noting an agreement with BP to develop four fields in Kirkuk.

Undersecretary of the Ministry of Oil, Bassem Mohammed Khudair, said, "The ministry seeks to increase oil and gas production capacity within a clearly defined five-year plan, targeting a ceiling exceeding 6 million barrels per day between 2028 and 2029."

He explained that "the ministry is working to achieve these goals through projects extending to all governorates, benefiting from the exploration activity carried out by the Oil Exploration Company, as well as drilling and production operations in the fields across the six licensing rounds."

He pointed out that "among the most prominent current projects in the extraction sector is the integrated gas development project in the south, in the Artawi field, in addition to other projects, including the project to develop four important fields in Kirkuk, for which an agreement has been reached, and the final contract is scheduled to be signed with BP in the coming days."

He continued, "National extractive companies are now responsible for 70% of operational activities."

https://economy-news.net/content.php?id=53697

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-24-25

Good Afternoon Dinar Recaps,

SEC SHOWS SUPPORT FOR COINREGTECH’S CRYPTO MARKET REGULATION PROPOSAL

The U.S. Securities and Exchange Commission has responded favorably to a proposal from CoinRegTech, a cryptocurrency market regulation service provider, aimed at improving oversight and transparency in the digital asset securities market.

The proposal outlines key regulatory measures designed to address investor protection, market structure, and transaction reporting. CoinRegTech’s recommendations focus on three main regulatory changes that aim to strengthen the framework surrounding digital asset securities.

First, the proposal emphasizes the need for clearer investor protection measures and urges the SEC to enforce structural requirements for trading platforms that facilitate digital asset securities transactions. This would help ensure that investors are adequately safeguarded in an evolving market landscape.

Second, CoinRegTech advocates for revisions to the Securities Exchange Act to enhance transaction reporting mechanisms. These updates would also aim to clarify market supervision responsibilities, thereby improving the overall structure and reliability of the market.

Third, the firm introduces the Digital Asset Electronic Reporting System, which is proposed to be developed in collaboration with the Commodity Futures Trading Commission. This new reporting system would play a vital role in enhancing regulatory oversight of digital asset transactions, promoting greater transparency and accountability in the market.

According to CoinRegTech, implementing these recommendations would increase transparency in cryptocurrency markets, enhance investor protection, and contribute to a more stable regulatory environment.

@ Newshounds News™
Source:  Crypto News

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INDIA CONVEYS TO BRICS: ‘WE WILL NOT DITCH THE US DOLLAR’

BRICS member India is repeatedly making it clear that they will not ditch the US dollar for trade and transactions. India’s Foreign Minister S. Jaishankar spoke in the Parliament regarding the de-dollarization agenda and the country’s role in it. He confirmed that India is steering off any anti-dollar moves amid US President Donald Trump’s tariff threats.

“BRICS, a platform that has grown in membership and agenda over the last two decades, seeks to enhance understanding among the international community,” said Jaishankar in response to a question in the Lok Sabha Parliament. Trump had threatened to impose tariffs on India and all BRICS nations if they plan to reduce dependency on the US dollar.

Jaishankar added that India has conveyed its stance to the US authorities during bilateral discussions that they will not pursue the BRICS agenda of sidelining the US dollar. Therefore, the de-dollarization initiative and the formation of a new common currency might be kept on hold.

BRICS: India Wants the US Dollar’s Reign To Continue

India took a U-turn from the BRICS anti-US dollar initiative after Trump reclaimed the White House in November. Both countries are sharing cordial relations with little to no threat to uproot the USD from the global reserve. This is in stark contrast with the BRICS alliance that is aiming to topple the greenback from the supreme status.

Apart from India, even Brazil, which chairs the 17th BRICS summit, is looking to keep the US dollar’s dominant position. Four government officials told Reuters on the condition of anonymity that Brazil will not pursue the common currency this year. Only Russia, China, and Iran are advancing the de-dollarization agenda hoping that their local currencies can take the top spot.

@ Newshounds News™
Source:  Watcher Guru

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BRICS Nations are Changing the Global Economy, is the Dollar at Risk?

BRICS Nations are Changing the Global Economy, is the Dollar at Risk?

Geopolitical Analyst:  3-23-2025

For decades, the US dollar has reigned supreme, acting as the linchpin of the global financial system.

From powering international trade to serving as the primary reserve currency for nations worldwide, its dominance has been unchallenged. However, a powerful bloc of nations – Brazil, Russia, India, China, and South Africa, collectively known as BRICS – is now actively seeking to disrupt this established order, pushing for a new financial landscape less reliant on the greenback.

But how serious is this challenge? Could the dollar truly lose its grip on global finance? And what would the ramifications be for the global economy?

The BRICS nations represent a considerable economic force. Together, they account for over 40% of the world’s population and a significant 32% of global GDP when adjusted for purchasing power parity. Over the years, BRICS has evolved beyond a purely economic alliance, forging stronger political and trade relationships, solidifying its influence on the global stage.

One of the primary objectives of this bloc is to reduce their dependence on Western financial institutions and the US dollar-dominated global economy. Understanding the rationale behind this ambition is crucial to grasping the potential shift in the global financial power dynamic.

The answer lies in the perceived weaponization of the dollar by the US government for economic and geopolitical leverage. Because the dollar is the world’s primary reserve currency, the US possesses the power to impose stringent economic sanctions, effectively cutting off nations from global banking systems and controlling significant trade transactions.

The events of 2022 served as a stark reminder of this power. In response to the war in U*****e, the US and its allies froze nearly $300 billion of Russia’s foreign exchange reserves. This bold demonstration of financial power sent shockwaves across the globe, particularly within the BRICS nations.

They realized that their reliance on the dollar made them vulnerable to similar economic repercussions. Consequently, they began taking decisive action to diminish their dependence.

One significant step has been the increased emphasis on trade settlements in local currencies. For instance, India and Russia are now conducting a considerable portion of their trade using the Indian rupee and the Russian ruble, circumventing the need for US dollar transactions.

China, the world’s second-largest economy, has been aggressively promoting the internationalization of its currency, the yuan. The nation has established currency swap agreements with numerous countries and launched the Cross-Border Interbank Payment System (CIPS) as a direct alternative to the US-dominated SWIFT system for international financial transactions.

As a result, China’s trade with countries like Russia, Brazil, and nations in the Middle East is increasingly being settled in yuan. Indeed, by mid-2024, nearly 27% of China’s total trade was settled in yuan, a significant leap from just 17% in 2022, highlighting the growing acceptance and usage of the Chinese currency in global commerce.

Furthermore, the BRICS countries are actively developing new financial institutions to challenge Western dominance. The New Development Bank (NDB), often referred to as the BRICS Bank, was established to provide an alternative to the World Bank and the International Monetary Fund (IMF).

Unlike the IMF, which often imposes strict conditions on loans, the NDB aims to offer developing nations greater financial autonomy without the perceived influence of Western powers. This is particularly appealing to countries in Africa, Latin America, and Asia, many of which have expressed frustration with Western financial policies and lending practices.

The challenge posed by BRICS to the US dollar’s dominance is undeniable. While the dollar remains the undisputed king for now, the concerted efforts of these nations to diversify their financial systems and reduce their reliance on the greenback represent a significant shift in the global economic landscape.

Whether these efforts will ultimately dethrone the dollar remains to be seen, but the increasing momentum behind this movement suggests a future where the global financial system is more multipolar and less reliant on a single currency.

 The coming years will be crucial in determining the long-term impact of the BRICS challenge and the future trajectory of the global economy.

https://youtu.be/w-ij8_uLxJA

Seeds of Wisdom RV and Economic Updates Monday Morning 3-24-25

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ACTING SEC CHAIR REJECTS ENFORCEMENT—DEMANDS REAL CRYPTO RULES

The acting SEC chair urged rulemaking over enforcement to clarify crypto regulations and avoid courtroom confusion.

Acting SEC Chair Urges Crypto Reset—Classification Shouldn’t Be Courtroom Chaos

Acting U.S. Securities and Exchange Commission (SEC) Chairman Mark T. Uyeda led the inaugural session of the agency’s Crypto Task Force roundtable on March 21 in Washington D.C. He used the occasion to urge the Commission to move away from regulation through enforcement when dealing with crypto assets.

Speaking to regulators, legal experts, and market participants, Uyeda argued that the SEC should instead embrace formal rulemaking processes to bring clarity to the digital asset space. He stated:

"This approach of using notice-and-comment rulemaking or explaining the Commission’s thought process through releases – rather than through enforcement actions – should have been considered for classifying crypto assets under the federal securities laws."

His remarks set the tone for a roundtable focused on addressing the fragmented legal interpretations that have defined the crypto landscape for years.

Uyeda examined the inconsistent application of the Howey test, the Supreme Court’s 1946 standard for identifying investment contracts, and how those inconsistencies complicate the classification of crypto assets.

He cited his own past as Chief Advisor to the California Corporations Commissioner, where he argued a certificate of deposit with an attached bonus qualified as an investment contract—a position the court rejected.

According to Uyeda, the legal community remains divided. Some federal circuits, he noted, require pooling of investor funds and pro rata profit distribution, while others accept a broader interpretation centered on shared risk.

There is also disagreement over whether the investor’s gain must stem from post-sale efforts by the promoter or whether significant actions taken before the sale are sufficient to meet Howey’s threshold.

The acting SEC chair noted:

"Differences in opinions among various courts is not unusual. After all, a judicial opinion is limited to the particular facts and circumstances of that case."

“When judicial opinions have created uncertainty for market participants in the past, the Commission and its staff have stepped in to provide guidance,” he clarified. Pointing to past instances where the SEC offered guidance to fill legal gaps—such as in the classification of whisky warehouse receipts and condominium sales—Uyeda suggested that the same approach should have been taken with digital assets.

@ Newshounds News™
Source:  Bitcoin News

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BRICS: 35% OF RUSSIA’S FOREIGN EXCHANGE RESERVES IS GOLD

BRICS member Russia is heavily diversifying its foreign exchange reserves by replacing the US dollar with gold. As of March 2025, gold makes up 34.4% of Russia’s foreign exchange reserves and is worth $217.4 billion. The Central Bank of India is massively accumulating the precious metal to safeguard its economy from market turmoil.

Russia is just one among the BRICS nations that has been aggressively buying gold since 2022. Its counterparts China, India, and Brazil have also been accumulating the glittery metal for 36 months.

The developing countries are looking to sideline the US dollar for foreign exchange reserves as the currency comes with the risk of debt.

If the market crashes, holding the US dollar becomes a financial burden and weakens their respective economy. 

Therefore, BRICS members are turning towards gold and other local currencies to distance themselves from the threat of acquiring debt. If the US fails to export the dollar, inflation could wreak havoc in the homeland leading to a rapid price rise for daily essentials.

BRICS Newfound Love for Gold

Speculation is also doing the rounds that BRICS aims to launch a new currency backed by gold in the coming years. Therefore, the alliance members are massively accumulating the metal in their central banks and diversifying their reserves. The goal is to usher into a new era of financial establishment where the US dollar plays no significant role.

@ Newshounds News™
Source:  Watcher Guru

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“Tidbits From TNT” Monday Morning 3-24-2025

TNT:

Tishwash:  After a suspension of more than a month, parliament confirms that the parliament session will convene today.

Arif al-Hamami, a member of the Coordination Framework, confirmed that the House of Representatives will hold its session today, Monday, to proceed with the reading of important laws after sessions were suspended for more than a month.

Al-Hamami told Shafaq News Agency, "The House of Representatives will successfully hold its session today, after sessions were suspended for more than a month due to disagreements over the Popular Mobilization Forces' service and retirement law. However, after the law is submitted for its first reading, the House will proceed with the session and the legislation will be expedited."

He added, "The House of Representatives will work to double its sessions over the coming period to compensate for the absence of a session during the previous period. The House will also witness accelerated activity to activate its oversight and legislative role during the coming period, especially after the Eid al-Fitr holiday."

Political positions vary regarding the inclusion of the Popular Mobilization Forces (PMF) law on the agenda of the parliament session scheduled for Monday. This move aims to end the parliament's nearly two-month hiatus from holding sessions.

The Iraqi Parliament has repeatedly failed to reach a consensus on the provisions of the Popular Mobilization Forces (PMF) law, particularly since it mandates the retirement of more than 3,500 PMF leaders, including the commission's chairman, Faleh al-Fayyadh, who are over the legal retirement age.

A source within the Coordination Framework revealed on March 11 that Prime Minister Mohammed Shia al-Sudani had withdrawn the Popular Mobilization Forces' civil service and retirement law from the Iraqi parliament to minimize political disagreement and prevent it from interfering with parliamentary sessions. The source added that the convening of parliamentary sessions was now contingent on the law being added to the parliament's agenda.

The House of Representatives is witnessing ongoing disruptions to its sessions, due to the lack of a quorum to hold them, despite the announcement of the agenda and the setting of a session date. link

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Tishwash:  Al-Sudani forms a 40-member council to promote the private sector.

The Ministry of Planning announced on Sunday the issuance of a royal decree to form a private sector development council, headed by the Prime Minister. The council's members will be 40. 

The ministry said in a statement received by Shafaq News Agency, "A royal order was issued to form the Permanent Private Sector Development Council, headed by Prime Minister Mohammed Shia al-Sudani, and two deputies. The first is Deputy Prime Minister and Minister of Planning Mohammed Ali Tamim, while the second deputy will be a representative of the private sector, elected by the council members."

She added that “the council consists, in addition to the first and second deputies, of (38) members, (10) of whom represent the government agencies related to the private sector development file, while the (28) members represent the various activities   under the banner of the private sector, which include industrial and agricultural activities, banking sectors, contracting and public investments, entertainment investments, hotels and restaurants, general trade and commercial agencies, communications and health, private education, residential activity, real estate development and energy.”

She pointed out that "the council includes a group of experts and representatives of youth and entrepreneurship," explaining that "the Permanent Council for Private Sector Development is of great importance, as it is the effective representative of all economic activities in this sector, and will play a fundamental role in formulating economic and investment policy, contributing to achieving a true partnership with the public sector."   link

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Tishwash:  PM Barzani Urges Closer KRG-Iraq Ties in Meeting with World Bank

The discussion between PM Barzani and World Bank Regional Director Jean-Christophe Carret underscored the need for closer cooperation with Baghdad on economic reforms, institutional development, and improved public services.

In a diplomatic engagement aimed at strengthening economic cooperation and accelerating public sector reforms, Kurdistan Region’s Prime Minister Masrour Barzani received a delegation from the World Bank on Sunday.

The delegation was led by Jean-Christophe Carret, the World Bank’s Regional Director for the Middle East.

According to a statement from the KRG, the meeting underscored the importance of deepening collaboration between the Kurdistan Region, the federal government of Iraq, and the World Bank, particularly in areas tied to economic modernization, institutional reform, and improvements in public service delivery.

The visit by the World Bank delegation signals renewed international interest in supporting the KRG’s efforts to modernize its economy and governance structures, particularly at a time when regional and global economic pressures demand more effective and transparent institutions. As the KRG continues to navigate complex political and fiscal challenges, its partnership with global financial institutions like the World Bank is seen as crucial to ensuring long-term stability and prosperity.

The World Bank, founded in 1944 and headquartered in Washington, D.C., is one of the world’s leading international financial institutions. It provides loans, grants, and technical expertise to developing countries to reduce poverty and support sustainable economic development. Over the years, it has played an active role in post-conflict reconstruction and institutional reform in Iraq.

Back in 2016, the World Bank entered into discussions with both the Iraqi federal government and the KRG about providing a major loan to support development and service projects across the country.

As part of the KRG’s broader economic strategy, Prime Minister Masrour Barzani has led efforts to expand banking services across the Kurdistan Region. In his address at HITEX24 on September 3, 2024—covered by Kurdistan24—he announced that banking capacity has increased fivefold since the ninth cabinet took office, reflecting a push to modernize the financial system and reduce reliance on cash-based transactions.

Furthermore, the KRG has made notable strides in digital governance. According to the KRG’s official Strategy for Digital Transformation, spearheaded by the Department of Information Technology (DIT), the government aims to become a regional GovTech powerhouse by 2025. The strategy is underpinned by six Core Strategic Activities (CSAs): strengthening digital governance, building digital architecture, investing in human capital, prioritizing user-centered design, improving security and data privacy, and reforming procurement systems.

The strategy emphasizes a citizen- and business-centric approach to public service, supported by agile and transparent IT infrastructure. It also introduces robust digital principles, including interoperability, data-driven decision-making, and accessibility across government platforms. According to the document, over 50 government services have been digitized, with the long-term vision that all residents will be able to access public services 'anywhere, anytime, on any device.'

The Prime Minister’s Decree No. 104 (2020) formally authorized the DIT to lead and regulate the digital transformation of all KRG entities. As stated in the strategy, the transformation is not only technological but also institutional, involving legal reforms, public awareness campaigns, and engagement with private sector and international stakeholders. This holistic vision is seen as essential for reducing bureaucracy, improving transparency, and unlocking economic opportunities across the Kurdistan Region.

At the World Government Summit 2025 in Dubai, PM Barzani reiterated the Kurdistan Region’s strategic vision, emphasizing institutional reform, youth empowerment, and long-term sustainability. He stated that the KRG seeks to be a regional model for effective governance and forward-looking economic planning.

These developments provide crucial context for the World Bank’s deepening engagement with the Kurdistan Region and underscore the international community’s recognition of the KRG’s ongoing efforts to implement structural reforms and strengthen its institutional foundations.  link

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