Trump Says a ‘Disturbance’ Is Coming: 5 Things That Could Mean for Your Wallet

Trump Says a ‘Disturbance’ Is Coming: 5 Things That Could Mean for Your Wallet

G. Brian Davis  Fri, March 28, 2025     GOBankingRates

In an interview with Fox News, President Donald Trump agreed that American consumers may face some turbulence in the wake of his economic agenda. “There is a period of transition because what we’re doing is very big,” he said in the interview.

The interviewer asked him about the stock market and economic performance in the wake of tariffs, citing what he told Congress in a speech: “There will be a little disturbance, but we’re OK with that,” he said.

The turmoil surrounding the administration’s tariff policies and trade war talk have already rattled markets. The Motley Fool reported that the S&P 500 fell into a correction on March 13, defined as a fall of 10% to 20% from recent highs.

So what should you brace for as a consumer to prepare for a possible disturbance?

Inflation

Companies that import goods don’t just eat the cost when governments slap tariffs on their imports. They typically pass those costs on to consumers in the form of higher prices.

“Many big-budget items like cars and home renovation supplies will be hit with tariffs, resulting in instantly higher prices,” said Melanie Musson, personal finance expert with Clearsurance.

She added that many smaller items may hit Americans’ budgets even harder because we buy them more often. “Smaller items that aren’t on your radar will also get more expensive, such as insulated coffee mugs, produce and electronics,” she said.

As prices rise, the purchasing power of each dollar shrinks, and suddenly your nest egg isn’t worth as much anymore. It’s why people call inflation “the silent killer” of savings.

Shipping Delays

Trade wars don’t just cause prices to spike. They also disrupt supply chains and shipments, according to Gates Little of The Southern Bank Company.

“Surges in ordering before tariff hikes take effect can lead to traffic congestion, which slows delivery speed. As businesses update their sourcing, there can also be shortages in raw materials, delaying production times,” he said.

Some Goods Becoming Unavailable

Some companies may stop importing certain items altogether if they become too expensive to realistically sell in the U.S.

“Businesses pass that additional cost on to the consumer, leading to higher prices,” Little said. “Some may choose to discontinue affected products altogether, especially if they are unable to source the goods domestically.”

For example, the Trump administration has threatened 200% tariffs on European wines, per the Associated Press. But is there a market for paying $100 a bottle for Bordeaux that costs $30 everywhere else in the world?

Maybe not enough of a market to justify the hassle and cost of importing them.

Recession Risk

TO READ MORE:  https://www.yahoo.com/finance/news/trump-says-disturbance-coming-5-120205073.html

Iraq Economic News and Points to Ponder Sunday AM 3-30-25

Al-Sudani And Allawi Discuss Strengthening Economic Reform Efforts.

Time: 2025/03/29 20:42:37 Reading: 585 times  {Politics: Al Furat News} Prime Minister Mohammed Shia al-Sudani received his former counterpart, Iyad Allawi, today, Saturday.

A statement issued by his media office, a copy of which was received by {Euphrates News}, stated: “The meeting witnessed discussions on strengthening government efforts and endeavors in the field of achieving economic reform, continuing the construction and reconstruction process witnessed by all Iraqi governorates, and meeting citizens’ aspirations.”

He added, "The meeting also discussed developments in the region and the importance of coordinating efforts to support all steps that contribute to strengthening Iraq's security and ensuring its stability." LINK

The Foreign Minister Chairs The 14th Meeting Of Preparations For The Arab Summit In Baghdad

Thursday, March 27, 2025, 17:43 | Politics Number of readings: 107  Baghdad / NINA / Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the fourteenth meeting on the ongoing preparations for hosting the upcoming Arab Summit in Baghdad in May 2025.

The meeting was attended by Minister of Interior Abdul Amir Al-Shammari, Minister of Finance Taif Sami, Secretary-General of the Council of Ministers Hamid Al-Ghazi, Mayor of Baghdad Ammar Musa, in addition to Undersecretary of the Ministry of Foreign Affairs for Administrative and Technical Affairs Ahmed Nayef, Undersecretary of the Ministry for Bilateral Relations Mohammed Bahr Al-Uloom, Chairman of the Political Committee of the Summit, and Undersecretary of the Ministry of Transport, representatives of the concerned ministries and bodies.

The attendees discussed the performance of the operations rooms and logistical support, and procedures for the summit ceremonies.

The decisions of the Media Committee were also reviewed, and developments in the work of the Political Committee were discussed, to ensure the completion of all necessary arrangements for the success of the summit. /End  https://ninanews.com/Website/News/Details?key=1194437

A US Delegation Of 50 Companies Will Soon Be In Baghdad. This Will Be Discussed

Money and Business  Economy News – Baghdad  Iraqi Ambassador to Washington, Nizar Al-Khairallah, confirmed on Saturday that a delegation representing more than 50 American companies will visit Iraq.

The Iraqi Embassy in Washington stated in a post on the (x) platform, "Ambassador Al-Khairallah met with Steve Lutes, Vice President of the US Chamber of Commerce and President of the US-Iraq Business Council, along with his deputies."

The ambassador stated that "the meeting focused on discussing logistical arrangements for the upcoming visit of a delegation of American businessmen to Iraq, which will include representatives from more than 50 American companies specializing in energy, healthcare, education, transportation, and other vital sectors."   https://economy-news.net/content.php?id=53907

The National Bank Of Iraq Raises Its Capital To More Than Half A Trillion Dinars After Recording An "Exceptional Year."

Banks   Economy News – Baghdad   The General Assembly of the National Bank of Iraq (NBI) approved, in its annual meeting, the Board of Directors' recommendation to increase the bank's capital from 400 billion dinars to 520 billion dinars, representing 30% of the capital, and distribute the increase as free shares to shareholders, in addition to a 20% cash dividend worth 80 billion dinars.

The bank said in a statement, "The bank's General Assembly, in a meeting attended by a number of board members, approved the board's report for the fiscal year, the final accounts for 2024, and the expansion plan for the current year, which includes the opening of six new branches in various Iraqi governorates. The General Assembly also approved increasing the number of board members to nine and elected a new board of directors."

Bassem Khalil Al-Salem, Chairman of the National Bank of Iraq's Board of Directors, said, "Last year was exceptional on all fronts, particularly in achieving qualitative accomplishments that reflect the bank's strength and resilience in the face of economic challenges, and in strengthening its presence as a leading financial institution in the Iraqi banking sector thanks to a clear strategic vision, prudent management, and a committed team."

Al-Salem emphasized that "these results were driven by flexible monetary policies and effective banking procedures by the Central Bank of Iraq, which responded quickly to economic and political changes, helped contain the impact of these changes on the Iraqi economy, and maintained exchange rate stability, which strengthened the role of the banking sector and protected the rights of depositors and shareholders."

Al-Salem said, "Last year witnessed an outstanding financial performance, as the bank achieved net profits after tax of 252 billion Iraqi dinars, compared to 190 billion Iraqi dinars in 2023. Net interest income also rose to 166 billion Iraqi dinars, compared to 100 billion Iraqi dinars, a growth rate of 66%."

He pointed out that total income will rise to 452 billion dinars in 2024, compared to 343.1 billion dinars in 2023, representing a growth rate of 31.7%. This reflects the effectiveness of the bank's strategy, which focuses on core banking services such as banking loans for individuals, large, medium, and small companies, and trade finance services for major companies.

Al-Salem expressed his gratitude to the Central Bank of Iraq, represented by the Governor and the Bank's staff, for their continued support of the Iraqi banking sector and their cooperation, which has contributed to the sector's development and provided an environment conducive to growth and development.

For his part, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, said, "Customer deposits increased to 3.5 trillion dinars in 2024, compared to 2.9 trillion dinars in 2023, a growth rate of 90%. Direct credit facilities also increased to 1.3 trillion dinars, compared to 951 billion dinars for the two years of comparison, a growth rate of 18%."

He explained that "this growth was the result of an expansion in loans granted to employees whose salaries are domiciled with the bank, as well as to small, medium, and large enterprises," stressing that "the growth in various financial indicators contributed to increasing the bank's assets to 5.1 trillion dinars from 3.9 trillion dinars, a growth rate of 29%."

Abu Dahim said, "For the first time in the bank's history, its assets are approaching this mark (5.1 trillion dinars), which reflects the growth in the volume of banking business, the increase in our market share, and our growing ability to serve our customers. Accordingly, the bank becomes the largest among Iraqi private banks in terms of asset size."

On the expansion front, Abu Dahim said, "We have added 104 new ATMs, bringing our network to 294, while the number of branches in Iraq has reached 33. We are also planning to open six new branches in early 2025, in addition to our branch in Saudi Arabia, which provides valuable services to Saudi and Iraqi companies."

He emphasized the bank's commitment to a comprehensive strategy focused on sustainability and digital transformation to serve customers. The bank has worked to keep pace with the latest technological developments and enhance information security and the efficiency of banking services, including installing the T24 banking system from the Swiss company Temenos and launching a new anti-money laundering management system (AML Sirion).

Regarding the bank's plans for 2025, Abu Dahim said, "We will continue to expand our branch network to reach 44 branches, in addition to increasing our ATM network to reach 400 ATMs, with a focus on developing and marketing electronic banking services, increasing the bank's share in trade financing for large companies, expanding the salary localization project and financing small and medium-sized enterprises, and expanding the attraction of deposits from individuals, companies, and official government institutions."   https://economy-news.net/content.php?id=53904

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 3-30-25

Good Morning Dinar Recaps,

CFTC FREES CRYPTO DERIVATIVES FROM EXTRA SCRUTINY

Crypto advocates scored big as the CFTC scrapped a directive singling out digital asset derivatives, easing scrutiny and marking a sharp split among U.S. regulators.

Barriers Drop—CFTC’s Crypto Retreat Sets Stage for Relentless Upside

Another win for crypto supporters arrived March 28 when the Commodity Futures Trading Commission (CFTC) announced that its Division of Clearing and Risk (DCR) has withdrawn Staff Advisory No. 23-07, a directive that had previously signaled increased regulatory scrutiny for digital asset derivatives.

The advisory, originally released May 30, 2023, had focused on the risks tied to the expansion of derivatives clearing organizations (DCOs) into digital asset markets, prompting concerns among industry stakeholders that crypto-based products would be singled out for tougher oversight. 

The decision to pull the advisory took effect immediately. The CFTC explained the rationale behind its decision by referencing the accompanying withdrawal letter:

As stated in today’s withdrawal letter, DCR determined to withdraw the advisory to ensure that it does not suggest that its regulatory treatment of digital asset derivatives will vary from its treatment of other products.

Staff Advisory No. 23-07 had warned DCOs and applicants to anticipate closer scrutiny when introducing new business lines or clearing models involving digital assets. The advisory placed specific emphasis on compliance with system safeguards, management of operational risks, and rules surrounding the physical settlement of digital asset contracts.

Under the rescinded guidance, DCR had planned to focus reviews on areas such as cybersecurity, shared infrastructure between affiliated entities, and clear delineation of responsibilities in the case of physical delivery of digital assets.

The advisory also reminded DCOs to prepare for risk assessments tailored to the unique characteristics of digital products. While the withdrawal eliminates a standalone framework for digital asset clearing oversight, the CFTC noted it remains committed to maintaining robust standards while supporting “safe and sound, orderly, and fairly competitive clearing systems” through consistent regulation.

Meanwhile, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have rescinded prior guidance that required banks to obtain regulatory approval before engaging in crypto-related activities. These efforts reflect a broader trend among U.S. financial regulators to reduce barriers and encourage responsible innovation in the digital asset space.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

TRUMP PLANS WHITE HOUSE VISIT FOR EL SALVADOR’S PRO-BITCOIN BUKELE

President Donald Trump is set to host El Salvador’s President Nayib Bukele at the White House in April.

The visit, reported by Bloomberg, follows Bukele’s agreement to detain hundreds of alleged Venezuelan gang members deported from the U.S., a move that aligns with Trump’s immigration enforcement agenda.

If finalized, Bukele will be the first leader from the Western Hemisphere to receive a formal White House visit under Trump’s administration. While no official date has been set, discussions are ongoing, and plans could change.

Bukele has actively courted Trump in recent months, positioning himself as a key regional ally on security and migration.

Bukele has drawn international attention for his strict crime policies, particularly his crackdown on gang violence, which has significantly reduced crime rates in El Salvador. His administration’s cooperation with U.S. deportation policies could further solidify his standing with Trump, who has made border security a top priority.

Bukele’s Bitcoin bet

Beyond security and migration, Bukele has made headlines for El Salvador’s bold embrace of Bitcoin Bitcoin. In 2021, his government made Bitcoin legal tender, positioning the country as a global experiment in cryptocurrency adoption.

The move has drawn mixed reactions, with supporters praising it as financial innovation and critics pointing to volatility and IMF concerns.

Bukele has remained a strong advocate for Bitcoin, using it to attract foreign investment and promote economic independence.

It is unclear whether Bitcoin will be a topic of discussion during his visit, but his meeting with Trump could signal potential shifts in U.S.-El Salvador financial relations.

@ Newshounds News™
Source:  Crypto News

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 3-30-2025

TNT:

Tishwash:  The fate of 315 contract employees at the Ministry of Oil has been revealed - Urgent

Member of Parliament, Ali Al-Mashkoor, revealed today, Saturday (March 29, 2025), the fate of 315 contract employees in the Ministry of Oil.

Al-Mashkoor told Baghdad Today, "The Oil Minister informed Prime Minister Mohammed Shia al-Sudani that oil companies have the funds to finalize all contracts, including Contract 315, and to close this file at the ministry."

He added, "The Ministry of Oil is awaiting government instructions to approve the completion of the stabilization or to include a paragraph in the 2025 budget tables, which are expected to reach Parliament in the coming period."

Al-Mashkoor expressed his "hope that the 315 contracts would be confirmed in all ministries to enhance their financial capacity to cope with the difficult living conditions."

According to statements by members of the Parliamentary Finance Committee, the 2025 budget schedules do not include any appointments due to the financial deficit it is suffering from, coupled with fluctuating oil prices, the mainstay of Iraq's revenues  link

Tishwash:  The government completes the budget schedules amid a deficit that affects jobs and services in Iraq.

A government source reported on Saturday that the general budget schedules have been completed and will be submitted to the House of Representatives after the Eid al-Fitr holiday. The source indicated that it will be approximately $200 billion, with a large deficit that will reduce the operating budget and reduce service projects. 

The source told Shafaq News Agency, "The general budget schedules have been completed in a preliminary form and may be transferred to the House of Representatives immediately after the Eid holiday. If this is not possible, it may arrive before the first half of next April so that the legality of its paragraphs can be discussed by the relevant committees in a manner consistent with government spending and the requirements of the stage." 

The source explained that "the total budget amounts will be around $200 billion, with a significant deficit due to the significant decline in strategic reserves of gold and hard currency, in addition to the lack of financial liquidity due to the many projects that require significant spending."

The source indicated that "the operating budget will be reduced, and the pace of service projects launched by the government will be reduced. Consequently, we may witness an urgent budget, as the Independent High Electoral Commission is requesting its financial allocations by mid-April at the latest, to enable it to allocate its spending to prepare for the elections in October."

Economic experts have warned of the impact of delaying the approval of the general budget on economic activity in Iraq, given that it represents a strategic plan for economic development, job creation, and financial stability. At the same time, they emphasized the importance of disbursing the budget, rather than approving it without funding, as occurred last year. This comes amid government assurances that the economic situation is "stable."    

The "triennial" federal budget was approved in 2023, for the years 2023, 2024, and 2025. However, Parliament must approve the budget schedules for each year, and the current year's budget schedules are still with the government, which is currently amending them.   link

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

Tishwash:  PM's Advisor :The Strategic Framework Agreement between Iraq and USA established the foundation for stable bilateral relations

The Prime Minister's Advisor for Financial Affairs, Mudhar Mohammed Salih, confirmed on Saturday that the Strategic Framework Agreement contributed to strengthening Iraq's financial and banking integration. He also noted that Iraq's relationship with the United States contributed to achieving balance in foreign policy and the economy.

Salih told the Iraqi News Agency (INA): "The Strategic Framework Agreement signed between Iraq and the United States in 2008 formed the basis for the development of paths of stability in bilateral relations between the two friendly countries, and on many axes of joint cooperation, which is important in the relationship with a major country like the United States."

He explained that "the role and importance of the United States in the international coalition forces, through its significant participation in combating ISIS terrorism, is an important element in the process of preserving our country's sovereignty, security, and stability. It provided a solid signal to open the doors of the world to international trade and investment links for Iraq, at high levels, through a large gateway whose title is security, stability, and prosperity with the world."

Salih added, "The agreement was a positive channel for creating an atmosphere of financial and banking relations that charted Iraq's path to integration into the international financial and banking system without fears of international financing, while achieving a high degree of transparency and governance with the international banking market and the international financial and economic community."

He continued, "If the United States is the world's leading energy producer, Iraq is OPEC's second-largest crude oil producer, meaning that our country is a strategic international energy hub, and its security and economic stability will remain essential to international development."

He added, "Since the defeat of ISIS terrorism (and in cooperation with friendly major powers, specifically the United States), our country has been able to pursue a neutral and highly independent policy that seeks to build stable economies in a turbulent world. Iraq is a stable achievement that can be emulated in light of the highly complex regional and international geography and politics."

He pointed out that "the friendly and cooperative relations between Iraq and the United States have provided Iraq with two important paths over two decades. The first is achieving balance in Iraq's foreign relations with the United States and not relying on a single axis, or what is called engaging in the policy of axes."

He continued, "The other axis is the role of our country's peace strategy, which has led to reducing regional tensions by building balanced relations with international and neighboring powers, after our country became a highly important international and regional player, credited with providing elements of stability in the region and the world."

The Prime Minister's Advisor emphasized that "the continued improvement of the relationship between Iraq and the United States will continue to contribute to achieving stability and sustainable development, while ensuring that this relationship remains balanced and preserves Iraq's sovereignty and the independence of its national decision-making.

 This is currently achieved through mutual respect and America's appreciation for Iraq's positive positions and its commitment to building just regional peace, security, and shared development."  link

Mot: Staring

Mot: ... the Real Luxuries in Life - are ~~~~

Iraq Economic News and Points to Ponder Saturday Afternoon 3-29-25

AT THE OPENING, THE EXCHANGE RATE RECORDED 148,500 DINARS FOR EVERY $100 IN BAGHDAD
Economy | 03/29/2025  Mawazine News – Baghdad  The dollar exchange rate rose on the Al-Kifah and Al-Harithiya stock exchanges, reaching 147,400 Iraqi dinars for every $100.

The selling price at exchange shops in local markets in Baghdad was 148,500 Iraqi dinars for every $100, while the buying price was 146,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=260378

Gold Prices Record A Significant Increase In Baghdad

Economy | 01:23 - 03/29/2025  Mawazine News – Baghdad  Gold prices witnessed a rise in the wholesale markets on Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21-karat Gulf, Turkish and European gold was recorded at 643,000 dinars, and the purchase price reached 639,000 dinars.

The selling price of one mithqal of 21-karat Iraqi gold was recorded at 613,000 dinars, and the purchase price reached 609,000 dinars.

In goldsmiths’ shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 645,000 and 655,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 615,000 and 625,000 dinars.  https://www.mawazin.net/Details.aspx?jimare=260381

Iraqi Ambassador To Washington: A Delegation Representing More Than 50 American Companies Will Visit Iraq

 Local | 03/29/2025  Mawazine News – Baghdad  The Iraqi Ambassador to Washington, Nizar Al-Khairallah, confirmed today, Saturday, that a delegation representing more than 50 American companies will visit Iraq.

The Iraqi Embassy in Washington said in a post on the (x) platform, followed by Mawazine News: “Ambassador Al-Khairallah met with Steve Lutes, Vice President of the American Chamber of Commerce and President of the US-Iraq Business Council, along with his deputies.”

The ambassador stated that “the meeting focused on discussing logistical arrangements for the upcoming visit of a delegation of American businessmen to Iraq, which will include representatives of more than 50 American companies specialized in the fields of energy, healthcare, education, transportation, and other vital sectors.”  https://www.mawazin.net/Details.aspx?jimare=260383

The National Bank Of Iraq Raises Its Capital To More Than Half A Trillion Dinars After Recording An "Exceptional Year."

Banks   Economy News – Baghdad   The General Assembly of the National Bank of Iraq (NBI) approved, in its annual meeting, the Board of Directors' recommendation to increase the bank's capital from 400 billion dinars to 520 billion dinars, representing 30% of the capital, and distribute the increase as free shares to shareholders, in addition to a 20% cash dividend worth 80 billion dinars.

The bank said in a statement, "The bank's General Assembly, in a meeting attended by a number of board members, approved the board's report for the fiscal year, the final accounts for 2024, and the expansion plan for the current year, which includes the opening of six new branches in various Iraqi governorates. The General Assembly also approved increasing the number of board members to nine and elected a new board of directors."

Bassem Khalil Al-Salem, Chairman of the National Bank of Iraq's Board of Directors, said, "Last year was exceptional on all fronts, particularly in achieving qualitative accomplishments that reflect the bank's strength and resilience in the face of economic challenges, and in strengthening its presence as a leading financial institution in the Iraqi banking sector thanks to a clear strategic vision, prudent management, and a committed team."

Al-Salem emphasized that "these results were driven by flexible monetary policies and effective banking procedures by the Central Bank of Iraq, which responded quickly to economic and political changes, helped contain the impact of these changes on the Iraqi economy, and maintained exchange rate stability, which strengthened the role of the banking sector and protected the rights of depositors and shareholders."

Al-Salem said, "Last year witnessed an outstanding financial performance, as the bank achieved net profits after tax of 252 billion Iraqi dinars, compared to 190 billion Iraqi dinars in 2023. Net interest income also rose to 166 billion Iraqi dinars, compared to 100 billion Iraqi dinars, a growth rate of 66%."

He pointed out that total income will rise to 452 billion dinars in 2024, compared to 343.1 billion dinars in 2023, representing a growth rate of 31.7%. This reflects the effectiveness of the bank's strategy, which focuses on core banking services such as banking loans for individuals, large, medium, and small companies, and trade finance services for major companies.

Al-Salem expressed his gratitude to the Central Bank of Iraq, represented by the Governor and the Bank's staff, for their continued support of the Iraqi banking sector and their cooperation, which has contributed to the sector's development and provided an environment conducive to growth and development.

For his part, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, said, "Customer deposits increased to 3.5 trillion dinars in 2024, compared to 2.9 trillion dinars in 2023, a growth rate of 90%. Direct credit facilities also increased to 1.3 trillion dinars, compared to 951 billion dinars for the two years of comparison, a growth rate of 18%."

He explained that "this growth was the result of an expansion in loans granted to employees whose salaries are domiciled with the bank, as well as to small, medium, and large enterprises," stressing that "the growth in various financial indicators contributed to increasing the bank's assets to 5.1 trillion dinars from 3.9 trillion dinars, a growth rate of 29%."

Abu Dahim said, "For the first time in the bank's history, its assets are approaching this mark (5.1 trillion dinars), which reflects the growth in the volume of banking business, the increase in our market share, and our growing ability to serve our customers. Accordingly, the bank becomes the largest among Iraqi private banks in terms of asset size."

On the expansion front, Abu Dahim said, "We have added 104 new ATMs, bringing our network to 294, while the number of branches in Iraq has reached 33. We are also planning to open six new branches in early 2025, in addition to our branch in Saudi Arabia, which provides valuable services to Saudi and Iraqi companies."

He emphasized the bank's commitment to a comprehensive strategy focused on sustainability and digital transformation to serve customers. The bank has worked to keep pace with the latest technological developments and enhance information security and the efficiency of banking services, including installing the T24 banking system from the Swiss company Temenos and launching a new anti-money laundering management system (AML Sirion).

Regarding the bank's plans for 2025, Abu Dahim said, "We will continue to expand our branch network to reach 44 branches, in addition to increasing our ATM network to reach 400 ATMs, with a focus on developing and marketing electronic banking services, increasing the bank's share in trade financing for large companies, expanding the salary localization project and financing small and medium-sized enterprises, and expanding the attraction of deposits from individuals, companies, and official government institutions."   https://economy-news.net/content.php?id=53904

A New Iraqi Position On The US Veto On Iranian Gas Imports

Energy   Economy News – Baghdad  Electricity Minister Ziyad Ali Fadhil warned that US sanctions could affect Iraq's gas imports from Iran.

Fadel said in press statements that "the US sanctions included the first phase related to Iraq's import of electricity from Iran, and the picture regarding gas is not yet clear." He indicated that "the power lines covered by the sanctions supply Iraq with 800 megawatts that feed Diyala, parts of Maysan, and Basra."

He stressed that "Iraq will suffer a hot summer if US sanctions include Iraq's import of gas from Iran," noting that "Iraq is working through the Ministry of Foreign Affairs to present proposals aimed at overcoming the problems that the sanctions may cause."

He pointed out that "Iraq has been dependent on gas since the ministry signed contracts to build gas stations in 2014," noting that "the inability of domestic gas to meet the needs of the stations prompted Iraq to conclude contracts to import gas from Iran."

He explained that "a large number of central stations, especially in Baghdad, depend on imported Iranian gas."   https://economy-news.net/content.php?id=53901

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 3-29-25

Good Afternoon Dinar Recaps,

XRP NEWS: SEC COULD DELAY ITS ANNOUNCEMENT UNTIL AUGUST 7? HINT XRP MEMBER!

▪️Ripple vs. SEC lawsuit nears conclusion, but delays raise uncertainty for XRP.

▪️XRP supporter claims SEC will stay silent on the case until August 7.

▪️Ripple’s legal chief suggests settlement paperwork is done, awaiting SEC’s final decision.

he long-running legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing its final chapter. With both sides dropping their respective appeals, attention has now turned to what comes next. ‘

However, a new claim from an XRP community member suggests that the SEC won’t make any official announcement on the case until August 7, raising questions about a potential delay.

Is a Settlement Really Happening?

Ripple’s legal chief, Stuart Alderoty, has hinted that all necessary paperwork for a settlement has already been prepared. The next step, however, lies in the hands of the SEC Commission, which is expected to vote on the matter within the next 30 days.

Once that vote is complete, the SEC will move to lift the injunction imposed on Ripple. If Ripple complies with the process, Judge Analisa Torres will then sign off on the motion, officially closing the case.

Will the SEC Remains Silent Until August 7?

Adding more fuel to the speculation, an XRP supporter named Brett recently made a bold claim on social media. He stated that the SEC would not make any official announcement on the lawsuit until August 7, citing a court document as his source.

His post quickly gained traction, with some in the community seeing it as a significant development. However, not everyone agreed. Many pointed out that the document he referenced was from last year, casting doubt on its relevance to the current situation.

Former SEC lawyer Marc Fagel even dismissed the claim outright, calling it “stupid and wrong.” This conflicting information has left the XRP community divided on what to believe.

No Official Announcement From the SEC

Although both the SEC and Ripple have withdrawn their appeals, the agency has yet to make an official announcement, leading to speculation that the case may already be settled. However, legal complexities could be causing a delay.

Fox Business journalist Eleanor Terrett suggested that the SEC might be waiting to ask Judge Torres to remove the injunction—a step that is different from how other cases have been handled.

For now, XRP holders are eagerly waiting for clarity, with hopes that the lawsuit’s resolution will bring long-awaited regulatory certainty to Ripple and its token.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

BRICS: RUSSIA TO FOLLOW US, SEEK MAJOR UAE INVESTMENT DEAL?

The last several months have seen geopolitical tension hit a new high. Indeed, the United States has targeted the Global South with tariffs in an effort to secure the status of the dollar. Now, that has taken an interesting turn for BRICS, as Russia may be looking to follow the US and seek a major investment deal from the United Arab Emirates (UAE).

Both Moscow and the UAE are set to meet to discuss their strategic cooperation. Moreover, that meeting took place after the latter unveiled a monumental investment framework plan with the United States. With tensions still high, the development is one that may have massive implications.

BRICS See Russia UAE Talk Collaboration After Landmark US Deal

Since the start of the year, the BRICS bloc and the US have faced off. With his election win in late 2024, Donald Trump targeted the alliance with 150% tariffs. Specifically, he was seeking to deter their de-dollarization efforts and secure the global reserve status of the greenback.

However, the ongoing tension between both sides took a rather interesting turn this month. Now, they may be set to get even more complicated for BRICS, as Russia is set to meet with the UAE and may be seeking a deal similar to the one it struck with the US.

In a rather surprising development, the UAE announced a mammoth 10-year, $1.4 trillion investment framework in the United States. The move was going to inject increased capital into the US and fortify what is a rather fragile economic standing. Interestingly, the UAE is a BRICS nation, the same one that has been clearly in the crosshairs of the alliance.

Now, a new report highlights that Russian President Vladimir Putin and UAE President Mohamed bin Zayed Al Nahyan are set to hold a telephone meeting this week.

According to the report, both sides discussed the partnership between both nations and gave “a positive assessment” of the dealings so far. Time may tell if they come to an agreement similar to that of the US.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

TRUMP PARDONS BITMEX CO-FOUNDERS CONVICTED OF FINANCIAL CRIMES: REPORT

Former President Donald Trump has pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed.

The three had previously pleaded guilty to federal charges related to money laundering and regulatory violations, according to CNBC reporting.

The three executives were convicted for failing to implement anti-money laundering measures at BitMEX, which prosecutors labeled a “money laundering platform.”

Reed admitted to violating the Bank Secrecy Act in 2022 and agreed to pay a $10 million fine. Despite BitMEX’s claims of withdrawing from the U.S. market, authorities alleged that the move was a “sham.”

@ Newshounds News™
Source:  Crypto News

~~~~~~~~~

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Buckle up for April 2, Liberation Day to Spark a Market “Demolition”

Buckle up for April 2, Liberation Day to Spark a Market “Demolition”

Daniela Cambone:  3-28-2025

Hold onto your hats! According to David Stockman, a former Republican U.S. Representative and the Director of the Office of Management and Budget under President Ronald Reagan, we’re headed for some serious turbulence in the financial markets.

 Stockman is predicting a major “explosion” in both the stock and bond markets leading up to April 2nd.

In a recent interview with Daniela Cambone on ITM Trading, Stockman didn’t mince words about the economic forces he believes are at play. He argues that the root of America’s massive trade deficits isn’t flawed trade agreements, but rather a deeply flawed monetary policy orchestrated by the Federal Reserve’s relentless money printing.

Beyond just criticizing the Fed, Stockman offered a compelling perspective on other political events. He even suggested that the fentanyl crisis wasn’t the primary motivation behind former President Trump’s strained relationship with Canada, hinting at deeper, underlying issues.

While Stockman’s predictions are certainly alarming, they’re rooted in his analysis of the current economic landscape and the Federal Reserve’s actions.

 To understand more about his rationale and the potential implications for your investments, viewers are encouraged to watch the full interview on ITM Trading for a deeper dive into Stockman’s economic outlook and his predictions for what lies ahead.

https://youtu.be/-fjH_YApb-o

Iraq Economic News and Points to Ponder Saturday AM 3-29-25

Iraq Begins Implementing New Measures To Improve The Import And Export Environment

Money and Business   Economy News – Baghdad   The General Authority of Customs began implementing new procedures on Friday to improve the import and export environment and ensure the entry of goods in accordance with legal standards.

In a statement received by Al-Eqtisad News, the authority stated, "As part of its efforts to strengthen the national economy and regulate trade, the General Authority of Customs has begun implementing new customs procedures aimed at improving the import and export environment and ensuring the entry of goods in accordance with approved legal standards."

He explained that "the new procedures aim to simplify customs operations through modern electronic systems that reduce delays and ensure smooth workflow. They also aim to combat customs smuggling and protect markets from substandard goods.

They also aim to achieve customs justice among traders, ensure everyone's compliance with approved laws, and stimulate domestic production by regulating imports and encouraging local factories and companies."

He pointed out that "these reforms have received significant support from economic and trade experts, as they will contribute to reducing customs corruption, increasing transparency in commercial transactions, and enhancing the state's resources, which will positively impact development projects and public services. They will also protect consumers from substandard or illegal goods that could impact the local market."

According to the statement, the authority affirmed that "these measures are part of a comprehensive reform plan aimed at facilitating legitimate trade and providing a fair economic environment that ensures the development of the commercial sector and the achievement of sustainable economic growth."

He continued, "With the continued implementation of these new systems, markets are expected to witness greater stability, which will enhance the confidence of traders and importers in the customs system and support the wheel of economic development in Iraq." https://economy-news.net/content.php?id=53886

Al-Sudani: Our Government Has Been Able To Achieve Actual Progress In Many Service Projects

Friday, March 28, 2025, | Politics Number of reads: 142  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed that his government has been able to achieve actual progress in many service projects.

Al-Sudani said in a televised interview: Services are a priority of the government program, and came according to a planned vision and the need of each governorate for service projects.

He added: We implemented services according to 3 levels: service and engineering efforts, completing stalled projects, and launching new projects.

Al-Sudani continued: We have achievements in several fields, not only in the field of solving bottlenecks, but also achievements in important projects in the oil and industrial sectors.

He pointed out that the capital, Baghdad, is the identity of Iraq and has been wronged in services for years.  He said: We launched 5 strategic sewage projects on the outskirts of the capital, and work is continuing to accelerate completion.

Al-Sudani stressed that there is a qualitative shift in the health sector, especially in the field of building hospitals and health centers in Baghdad and the governorates.

He explained that a joint operation management system has been implemented in 7 hospitals to develop medical services and reduce the burden on citizens to receive treatment outside Iraq.

He stressed that Iraq has achieved a leap in localizing the pharmaceutical industry and applying the "Made in Iraq" concept according to the latest international specifications and standards.

He explained that Iraq will achieve self-sufficiency in high-octane gasoline for the first time upon the completion of the FCC project in Basra at the end of this year. He also stated that we have major projects with international companies to rehabilitate oil pipelines to preserve our oil wealth.

Al-Sudani continued: We have major investment opportunities in the petrochemical, cement and fertilizer industries, in which we have achieved self-sufficiency.

He confirmed that licenses have been granted to build one million housing units, and the government has supported the private sector with sovereign guarantees to ensure the success of housing and industrial projects.

He said that many items of the national card are secured through local production, and some materials are exported abroad due to their abundant production.

He pointed out that we have achieved 14% of non-oil revenues, and our goal is to achieve a higher percentage through the real reforms adopted by the government.

He added: We have taken important measures to reform government companies and the banking sector to increase the percentage of non-oil revenues.

Al-Sudani said that the Iraqi banking system operates transparently in accordance with international standards, and we have controlled the sale of the dollar, and financial transfers are carried out through internationally recognized processes and procedures. He indicated that contracts have been signed with reputable international companies to reform the private banking sector.

He added: We have reached the final stages of establishing the first Rafidain Bank, and developing the banking system achieves development.

Al-Sudani continued: We have taken an important step to invest in associated gas for the first time in Iraq's history, and flaring will be completely stopped by early 2028.

He explained: We are working on completing the floating platform project to complete the extension of the gas pipeline to the stations, and some countries have expressed their willingness to send ships loaded with gas for preparation.

He said: We have put in place serious solutions to the electricity crisis by addressing the transmission and distribution networks, easing bottlenecks, and implementing collection.

He explained that achieving accomplishments in various fields will restore citizens' confidence, and that we have a project aimed at a real renaissance in all fields.

He stressed that there is no external interference in the Popular Mobilization Forces, which is an official security institution.

He pointed out that the draft law of the Popular Mobilization Forces regulates the organizational structure of the Forces, its formations, and levels of its leadership, and was approved by the government after extensive study.

He stressed that it is necessary to pass laws related to the Popular Mobilization Forces, retirement, and social security, in order to guarantee the rights of members, which is a small part of their sacrifices.

He continued that no party is allowed to impose dictates on Iraq, and that the decision regarding its internal affairs is a national one.

He added: We emphasized the protection of minorities in Syria, and working to confront the terrorist ISIS, which poses a threat to the countries of the region.

He stressed that our position on Syria was expressed by Iraq in accordance with the country's supreme interests, and we have meetings with Turkey, Syria, Jordan, and Lebanon to confront ISIS. https://ninanews.com/Website/News/Details?key=1194597

Finnish Ambassador: Many Of Our Companies Operate In Iraq, Most Notably In The Telecommunications And Construction Sectors

Buratha News Agency1102025-03-28  The Ambassador of the Republic of Finland to Iraq, Anu Saarela, stated on Friday that many Finnish companies operate in Iraq. The ambassador told the official news agency, "There are many Finnish companies operating in Iraq, but the primary motivation for these companies is stability, as they seek a sustainable and safe business environment for investment in Iraq and the region in general."

She added, "Finnish companies operate in several sectors, including energy and communications, with Nokia being one of the most prominent companies operating in the mobile phone sector, along with a few companies in the construction sector, a sector that is no longer as active as it was in the 1980s."

Regarding the Samarra power plant maintenance project, the Finnish ambassador confirmed that "the matter is progressing step by step, and the Finnish company is committed to completing the project." https://burathanews.com/arabic/misc/458139

Gold Prices Rise To An Unprecedented Record High

Money and Business  Economy News - Follow-up   Gold prices rose to an unprecedented high on Friday amid ongoing concerns about an escalating trade war after US President Donald Trump moved to impose tariffs on all auto imports.

Gold prices rose 0.7%, hitting a new record high of more than $3,077 per ounce, surpassing Thursday's high. The metal is on track for its fourth consecutive weekly gain, supported by growing demand for safe-haven assets.

Trump signed a proclamation on Thursday imposing a 25% tariff on auto imports, threatening the European Union and Canada with "stronger penalties" if they cooperate to harm the US economy. Markets are bracing for a new wave of tariffs on April 2, while the White House administration prepares to implement what are known as "reciprocal tariffs," although the details of these plans remain unclear.

These growing concerns about the repercussions of an escalating trade war overshadowed data showing that the US economy grew at a faster-than-expected pace in the fourth quarter, while an inflation indicator was revised lower than the previous reading.

Gold has risen by about 16% since the beginning of the year, setting at least 15 new records, driven by central bank purchases and increased appetite for safe-haven assets amid rising geopolitical and economic uncertainty.

These factors supported prices even as traders reduced their bets on the Federal Reserve cutting interest rates to just two times this year. A rate cut is a strong support factor for gold, a non-yielding asset.

Major banks have raised their gold price forecasts, with Goldman Sachs this week revising its forecast to $3,300 per ounce by the end of the year, citing stronger demand from central banks and strong inflows into gold-backed exchange-traded funds.

In contrast, silver stabilized at its highest levels since approximately 2012, also benefiting from demand for safe-haven assets, particularly amid supply shortages resulting from massive withdrawals from London to US vaults. Suzi Cooper, an analyst at Standard Chartered, noted that rising rental rates in London could push spot prices further upward.

Spot gold was trading up 0.6% at $3,076.92 per ounce at 10:27 a.m. in Singapore, heading for a weekly gain of about 1.8%.

The Bloomberg Dollar Index remained stable, while silver remained unchanged, while platinum and palladium rose slightly.   https://economy-news.net/content.php?id=53875

Oil Prices Are Heading For Gains For The Third Consecutive Week

Economy  | 10:22 - 03/28/2025  Mawazine News – Baghdad  Oil prices are on track for a third consecutive week of gains as markets brace for a new wave of tariffs from the Trump administration, scheduled to take effect early next week.

Brent crude was trading near $74 a barrel after closing up 0.3% on Thursday, while West Texas Intermediate (WTI) crude was below $70. The reciprocal duties, along with a levy on buyers of Venezuelan crude, are set to take effect on April 2, the latest in a series of U.S. tariffs that have rattled global markets.

Oil prices have been rising since early March as investors assess the impact of potential supply disruptions caused by Trump's sanctions and tariffs, while traders rushed to buy bullish options to hedge against potential price spikes. Venezuela also increased its crude exports to China to their highest level in nearly two years.

Concerns about weak demand and rising supply have tempered the potential impact on crude flows at times, with major trading houses forecasting crude prices negatively for the rest of the year. OPEC+ is set to begin returning some of its shut-in production to the market next month as part of a series of planned increases. https://www.mawazin.net/Details.aspx?jimare=260360

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 3-29-25

Good Morning Dinar Recaps,

STABLECOIN LEGISLATION SHOULDN’T FORCE ISSUERS TO COMPLY WITH BANK SECRECY ACT: REP. TOM EMMER

House Majority Whip Tom Emmer thinks stablecoin bills under discussion on Capitol Hill should remove language forcing issuers to comply with stringent anti-money laundering laws.

In a potential sign of brewing tensions regarding key language in multiple stablecoin bills circulating in Congress, House Majority Whip Tom Emmer (R-MN) said this week he doesn’t believe stablecoin issuers like Tether should have to comply with the anti-money laundering Bank Secrecy Act—a major sticking point of both the Senate’s stablecoin-focused GENIUS Act, and the House’s parallel STABLE Act.

Including such a provision in the legislation could box out foreign issuers while favoring U.S. companies, since U.S.-based entities are currently better equipped to meet stricter demands. The lawmaker believes stablecoin issuers, regardless of jurisdiction, should not be subject to the stringent anti-money laundering rules under the Bank Secrecy Act.

“The protections the so-called Bank Secrecy Act is supposed to provide were drafted for cash, and this is blockchain-driven,” Emmer told Decrypt Wednesday evening. “And guess what, everything on the blockchain is open and transparent to people who understand how to follow code.”

“It's pretty interesting to say that the Bank Secrecy Act—which doesn't even contemplate this type of technology, a digital asset—should be what we're using,” the congressman added.

Stablecoins are digital assets typically pegged to the U.S. dollar and designed to keep a steady price. They're used by cryptocurrency traders to enter and exit positions without the need for dollars, and used as dollar equivalents in markets where dollars are restricted or inaccessible.

The latest drafts of the GENIUS Act and STABLE Act treat all stablecoin issuers as financial institutions under the Bank Secrecy Act. The law, enacted in 1970, established a stringent set of proactive anti-money laundering rules that American banks must comply with in order to operate.

The Bank Secrecy Act, for example, obligates regulated institutions to engage in suspicious activity monitoring, undergo routine audits, hire compliance officers, and adopt a customer identification program mandated by the Patriot Act—the controversial law that expanded government surveillance powers shortly after the September 11, 2001, terrorist attacks.

Such requirements would pose quite a hurdle for existing foreign stablecoin issuers like Tether, the company behind USDT and the market’s undisputed leader. Tether, whose USDT stablecoin boasts a market capitalization in excess of $144 billion, is based in the U.S. Virgin Islands, and plans to move to El Salvador—but nonetheless is one of the world’s biggest purchasers of U.S. Treasuries, which it uses as collateral to back its U.S. dollar-pegged stablecoin.

In its current setup, Tether enjoys much less strict regulation than the Bank Secrecy Act would mandate, and the company's leadership has implied that moves to force all stablecoin issuers to comply with such rules would hurt the firm and aid its competitors.

By contrast, Circle, the issuer behind the market's second-largest stablecoin USDC, is already based in the United States. The company is regulated as a money transmitter by the New York Department of Financial Services and as such must already comply with the Bank Secrecy Act.

Circle is also already in compliance with the European Union's elaborate MiCA regulatory framework, a move Tether has resisted.

As stablecoin legislation in the U.S. nears a crescendo, questions have emerged regarding whether Tether would come to the United States if it had to comply with the Bank Secrecy Act—or, alternatively, what would happen if the stablecoin market’s top player was boxed out of American financial markets.

Emmer does not want to risk locking Tether, or any other foreign issuer, out of the burgeoning U.S. stablecoin sector.

“We've got to let everybody compete in this space,” he said.

That doesn’t mean Tether wouldn’t have to comply with certain rules in order to operate in the United States. To Emmer, the sticking point is proof of reserves—showing the government that your token is backed up with sufficient collateral to keep its value pegged to the dollar even in periods of market volatility.

To that end, Emmer believes Tether is, broadly speaking, doing well. In 2021, the company partnered with Wall Street firm Cantor Fitzgerald to help custody some of the $92 billion worth of U.S. Treasuries it claims to currently hold in reserve.

“Tether has done a great job straightening itself out in the last four years,” Emmer said.

The House Financial Services Committee is set to mark up the STABLE Act during a session next week. Meanwhile, the GENIUS Act already passed out of the Senate Banking Committee earlier this month with strong bipartisan support—Bank Secrecy language intact. It is likely to face a full vote on the Senate floor in the coming months.
@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

US BANKS GAIN CRYPTO ACCESS AS FDIC REVOKES APPROVAL RULE

▪️The FDIC has reversed its 2022 policy requiring banks to get pre-approval for crypto activities.

▪️This policy shift, driven by new leadership and industry advocacy, signals a move towards clearer regulatory guidelines.

▪️The FDIC's action, along with similar moves by the OCC, reflects a broader regulatory adjustment in response to the maturing crypto industry.

The Federal Deposit Insurance Corporation (FDIC) has officially scrapped its 2022 rule that required banks to get approval before engaging in crypto activities. For years, banks interested in digital assets were stuck in limbo, waiting for approvals that never came. Now, that roadblock is gone.

With fewer regulatory hurdles, will banks finally embrace digital assets, or will caution still hold them back? Here’s what the new guidance means and why it matters.

FDIC Gives Banks the Go-Ahead for Crypto

In its updated guidance, the FDIC stated that banks under its supervision can engage in crypto-related activities as long as they properly manage the risks involved.

“FDIC-supervised institutions may engage in permissible activities, including activities involving new and emerging technologies such as crypto-assets and digital assets, provided that they adequately manage the associated risks.”

Like any financial activity, banks must assess potential risks, follow consumer protection and anti-money laundering rules, and consult with regulators when needed.

FDIC’s Role in the Crypto Banking Crackdown

The FDIC oversees many smaller banks and plays a key role in protecting the financial system. However, it was also involved in what many call a crypto banking crackdown. A lawsuit involving Coinbase revealed that the FDIC had quietly warned banks to avoid working with crypto companies while drafting new rules—but never actually put those rules in place.

A Shift Under Trump’s Administration

This policy change comes after President Trump appointed leaders who support the crypto industry and encouraged regulators to take a more open approach. FDIC Acting Chairman Travis Hill said this move corrects the agency’s flawed approach over the past three years.

“I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards,” he noted.

Regulators Easing Restrictions on Crypto

Bo Hines, head of the White House’s Digital Assets Advisory Council, called the decision a “huge step forward” in a social media post. Previously, the FDIC, Federal Reserve, and Office of the Comptroller of the Currency (OCC) all required banks to get pre-approval before working with crypto.

The OCC recently reversed its 2022 guidance, which was introduced during a time of instability in the digital asset industry. That period saw major company failures and high-profile fraud cases, including the collapse of crypto exchange FTX. These recent regulatory changes signal a shift in how US regulators view the crypto industry, possibly paving the way for more mainstream adoption.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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“Tidbits From TNT” Saturday Morning 3-29-2025

TNT:

Tishwash:  Rafidain Bank directs its branches to work on Saturdays and Sundays to disburse outstanding financial dues.

Today, Friday, March 28, 2025, Rafidain Bank directed its branches to work on Saturdays and Sundays to disburse "pending" financial dues.

A statement from the bank's media office, received by Baghdad Today, stated that "Rafidain Bank has directed its identified branches (Al-Muheet - Arab Quarter - Haifa - Al-Waziriya - Sheikh Omar - Al-Zawiya - Nasr Square - Bab Al-Muadham - Seven Palaces) to work on Saturday and Sunday."

He pointed out that the directive to work is to "disburse financial dues to owners of outlets and collect revenues from petroleum products and gas stations." link

Tishwash:  Iraq prepares for the largest leap in electricity production: historic contracts with GE and Siemens and plans to compensate for gas shortages.

Minister of Electricity Ziyad Fadhil revealed on Friday that Iraq is about to sign two historic contracts with the American company General Electric and the German company Siemens to boost electricity production. The first contract will provide 24,000 megawatts, while the second will add 10,000 megawatts to the national grid.

The minister confirmed in a statement received by Al Furat News that "the issue of importing Iranian gas has not yet been resolved, explaining that the ministry has not received any official notification of the suspension of supplies, while discussions on the matter are still ongoing." 

In the face of any potential gas supply shortage, Fadel noted that "the government has alternative plans, including the use of kerosene, taking advantage of electricity interconnection projects with neighboring countries, solar power plants, combined-cycle units that do not require fuel, and the establishment of a floating gas platform at the port to enhance energy sources." 

The minister noted that "the ministry is currently implementing the largest campaign to resolve power grid bottlenecks in all governorates, by upgrading and creating new lines and installing transformer stations, with the goal of achieving greater stability in supply hours." 

Regarding warnings of an electricity crisis next summer, Fadel confirmed that "there is an exaggerated hype," emphasizing that the government is well aware of the challenges and has clear plans to address them and ensure stable electricity supply in the coming months.  link

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Tishwash:  Al-Sudani: Restrictions are useful, and I asked the Americans about their silence on the dollar chaos before me!

Answered about selling 300 million daily

Prime Minister Mohammed Shia al-Sudani asserted that US sanctions were the best way to eliminate “rogue shops” and that the punitive measures imposed on Iraqi banks were a result of the previous government’s failure to fulfill its commitments to the US. He also said that the Treasury described the progress in reforming the banking system as “the revolution we dreamed of.” During a lengthy interview, al-Sudani justified the increase in the Central Bank’s dollar sales by the acceleration of construction activity and the import of building materials.

 He also promised to launch a reform plan to correct the banking sector, which is “the most important in Iraq’s history.”

 Mohammed Shia Al-Sudani, during an interview with journalist Samer Jawad:

There is an exaggeration of the problems facing Iraq, even though countries face many similar challenges, even on the security level. During the ISIS crisis, they said that Iraq was finished, and on the economic level, they said that the economy was finished, but things later proceeded normally.

After assuming the premiership, I faced the issue of the agreements between the previous government, the Treasury, and the US Federal Reserve, which were two years old at the time, regarding a roadmap for Iraq to enter the global financial compliance circle. However, the previous government did not implement any of them, and the deadline expired at the beginning of my government.

My government was able to transform the challenge and commitment to the U.S. Treasury and the Federal Reserve into an opportunity to reform the Iraqi financial and banking system. This came at a social and political cost, which our opponents exploited. However, we leveraged the issue to end the anomalous situation of dollar-selling shops, which we all complained about, and we were able to implement the imposed obligations.

The sanctioned banks were sanctioned for violations committed during the previous government's term. The sanctions imposed by international institutions were related to that period, but there are no violations in this regard now.

We have been able to implement the standards, and now the Iraqi banking system operates transparently, in accordance with international compliance standards and certified by international institutions. During my last visit to New York, the US Treasury representative informed us that Iraq has achieved a revolution we had dreamed of in previous periods. International compliance standards have been applied to all Iraqi financial transfers, via correspondent banks and the US audit firm. Not a single dollar is spent without passing through these bodies.

The only cash dollars exchanged are for travelers, and are spent at the plane door. Therefore, not a single dollar is exchanged outside of improper transactions and procedures. The Central Bank's increased dollar sales have a different interpretation related to construction and development in the country, unlike what used to happen in the days when the process was conducted through receipts and chaos. Thirty percent of the value of our annual imports goes to construction materials, and this reflects the scale of construction and development.

The Iraqi banking system has reached such a level of reliability that international banks have begun opening credit lines here. We have contracted with Oliver Wyman to reform the private banking system, and we will launch the reform plan after Eid. It will be the most important plan since the founding of the Iraqi state. The government banking sector will be reformed under the supervision of Ernst & Young. link

Mot:  This Seasoning Thingy Does Have its Advantages....

Mot:  Lifes Lessons frum da Munchkins 

Seeds of Wisdom RV and Economic Updates Friday Afternoon 3-28-25

Good Afternoon Dinar Recaps,

BRICS GOLD BET PAYING OFF AS TRUMP TARIFFS DRIVE VALUE SKY-HIGH

For much of 2024, the BRICS alliance saw its various central banks embracing gold and investing heavily in the asset. Now, that appears to be paying off in a big way as the slew of US President Trump’s tariffs are driving the haven asset’s value to heights it had never seen.

The metal has long been viewed as a priority investment in times of economic uncertainty and geopolitical conflict. With the United States seeking to balance trade, it has adopted an increasingly aggressive economic policy. Indeed, it has seen the beginnings of a trade war begin as gold is reaching record values this year.

BRICS Gold Buying Proving Smart as Trump Drives Value to New Heights

In late 2024, US President Donald Trump was clear in his intentions with the BRICS alliance. Specifically, he warned of impending 150% tariffs on the bloc if they continued to embrace de-dollarization efforts. What he wasn’t clear on was that a host of other nations would be subject to similar economic policies for reasons they had no way of being aware of.

That has thrown the global finance sector into a period of uncertainty and stagnation. However, it has led one asset to thrive and benefitted one interesting party. Indeed, the BRICS gold bet is paying off big in 2025 as the Trump tariffs are driving its value sky-high.

Gold has continued to shatter records throughout the year. It did so again this month, reaching a new landmark price of $3,035 per troy ounce. In early March, prices were already surpassing $2,980 per ounce, marking a 14% increase year-to-date.

That is set to benefit the economic bloc that Trump was looking to originally target with tariffs. Indeed, the BRICS economic alliance holds a collective 4,800 metric tons after a buying spree throughout 2024. The collective had sought the metal as a key hedge against the US dollar’s dominance.

In effect, gold was a key de-dollarization tool that the bloc is still utilizing to this day. Its presence allows the group to facilitate economic dealings outside of the greenback. 

Moreover, there are talks about the bloc welcoming a gold-backed stablecoin. Altogether, Trump’s economic policy may fuel the very de-dollarization efforts he was hoping to halt.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

New Isaac Post in his Telegram Room Link 

Isaac is in the process of redeeming bonds.

Keep checking for Isaac's post of VICTORY.  We will be posting here in The Dinar Recaps Blog too.  It is getting exciting!

The Seeds of Wisdom Team

@ Newshounds News™

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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