“Tidbits From TNT” Monday 4-14-2025

TNT:

Tishwash:  MP: June will mark the end of dollar smuggling in Iraq

Member of Parliament Majid Shingal confirmed on Sunday that June will witness an end to dollar smuggling operations, noting that strict oversight will be imposed on the funds of companies, politicians, and influential people. 

Shingal said in a statement monitored by (IQ): "Our transfers are currently considered dollar smuggling, but the situation is now better. I believe that in June, regular correspondence will be adopted, which will significantly reduce smuggling, and may even lead to its near disappearance." 

He noted that "some type of oversight will be imposed on the payment system in Iraq, including knowing who paid, how they paid, and where the money was spent. These processes will be automated to ensure transparency and track expenditures."

Shingal explained: "The goal of these measures is to reduce the amount of support provided to factions and those loyal to Iran. It is true that reaching zero support is not currently possible, but we are very close to achieving it, and this is the primary goal." 

He added, "Another goal is the entry of 60 American companies into the Iraqi market daily, and this is a very positive sign." 

He pointed out that "these measures will include political forces, influential people, and corrupt individuals, not just factions, as there are many individuals with improper financial dealings. In June, comprehensive oversight of companies, funds, and all audits will begin, and this is in Iraq's interest."

Shingali continued, "I heard that there is a freeze (block) of some politicians' funds in foreign banks, and this is said, but I do not know how true it is. In the same month, the official audit will begin, and these accounts will be revealed, to whom they belong, and where they were transferred. It is worth noting that these accounts are located in Europe and can be stopped at any moment." 

He concluded by saying, "These politicians always benefit from the money they steal from people in their countries and deposit in foreign banks, but in the end, they get nothing from it. To this day, the former regime's assets have not been recovered, and there is still money deposited in anonymous bank accounts, frozen in Switzerland and other countries."  link

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Tishwash:  National Investment Commission: We are committed to providing an attractive investment environment and projects.

During the first Iraq Business Summit 2025 (IBS), held in Baghdad with the participation of the Ministers of Communications and Industry and Minerals, government officials, local and international investors, and private sector businessmen, Haider Mohammed Makiya, Chairman of the National Investment Commission, said that “the summit aims to enhance the business environment in Iraq and attract foreign investment, especially in the energy, communications, infrastructure, and other sectors.”

During the summit's dialogue session, Makiya affirmed, according to a statement, "the National Investment Commission's commitment to providing an attractive investment environment and projects for Iraq and the region."

The Chairman of the National Investment Commission gave a detailed explanation when presenting the largest national strategic project that serves Iraq’s geographical location, represented by the establishment of “international data centers” and the passage of international data and the provision of electrical energy and the passage of Internet capacities (Digital Economic Services for Private Sector). It is an investment project that will be granted an investment license later, as it is within the scope of the work of the National Investment Commission under Regulation No. (2) of 2009 (under Article / Fourth - Second - B) amended and approved by the Council of Ministers, which was published in the Iraqi Gazette.

Makiya explained that "the Prime Minister has approved the project, and the National Authority will proceed to complete the previous international approvals in order to strengthen economic relations with sister and friendly countries."

In the same context, he noted that "Iraq looks forward to strong economic and trade relations with international governments and companies, particularly those interested in the project from the Gulf states and other countries in the region. This reflects the National Investment Commission's commitment to enhancing the business environment in Iraq and attracting foreign investment by providing the necessary facilities and guarantees in line with global trends toward major investment projects."

The summit's opening session focused on the importance of digital transformation in supporting the Iraqi economy, while showcasing successful models of public-private partnerships. It also addressed financing and international cooperation, which reviewed the mechanisms for financing major projects and the role of international financial institutions in supporting economic development in Iraq. link

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Tishwash:  Al-Mashhadani confirms to a US delegation the possibility of developing and amending the Iraqi constitution.

Parliament Speaker Mahmoud al-Mashhadani affirmed on Sunday the possibility of developing and amending the Iraqi constitution.

The House of Representatives stated in a statement received by ( IQ ), "The Speaker of the House of Representatives received, today in Baghdad, a high-level delegation from the US Congress and members of the US Embassy. During the meeting, bilateral relations between Iraq and the United States were discussed within the framework of the Strategic Framework Agreement, and ways to enhance joint cooperation in the political, economic and security fields ."

He added, " The visiting delegation included Representative Adam Smith, the ranking member of the House Armed Services Committee for the Democratic Party, Representative Sarah Jacobs, Representative Michael Baumgartner, Representative George Whitesides, and Representative Wesley Bell, in addition to the US Chargé d'Affaires Daniel Rubinstein, and a number of advisors and professional staff members of the Armed Services Committee ."

During the meeting, the Speaker of Parliament emphasized "the importance of the Strategic Framework Agreement as the cornerstone of Iraqi-American relations," stressing "the need to activate its provisions to ensure mutual interests between the two countries, particularly in the areas of developing the national economy and investing in non-oil sectors such as agriculture and industry . "

He pointed out, "The importance of the Iraqi Constitution as a foundation for the democratic system in the country, with the possibility of developing and amending it in accordance with Article (142) and in a manner consistent with the aspirations of the Iraqi people ."

He stressed the "need to develop the education and agriculture sectors, and to support political and security stability in Iraq and the region," expressing "Iraq's firm position in supporting efforts to achieve a ceasefire in Gaza, and the need to end wars and conflicts in the region in a way that contributes to consolidating peace and achieving prosperity ."

For its part, the US delegation affirmed the United States' commitment to supporting Iraq in various fields and strengthening the existing strategic partnership between the two countries, reiterating the US Congress's keenness to communicate effectively with Iraqi leaders to continue joint work for a better future for both countries.   link

Mot: Yeppers... Sum mor Intuition on that ""Marital Thingy" 

Mot:  . Karma!! -- Don't Ya Loves ""Karma""

Seeds of Wisdom RV and Economic Updates Monday Morning 4-14-25

Good Morning Dinar Recaps,

CLEAN CLOUD ACT' DRAFT BILL REQUIRES CRYPTO MINERS TO CUT EMISSIONS OR FACE FINES

▪️Senate Democrats introduced a bill Thursday that would set regional limits on the emissions from crypto mining facilities and AI data centers, imposing fines on facilities that surpass the cap.

▪️The regional caps would be reduced by 11% annually until reaching zero by 2035, requiring facilities to operate on 100% renewable energy, or face fines.

▪️The draft bill would also require facilities to submit detailed annual reports on electricity usage and sourcing to allow the EPA to calculate each facility’s emission intensity.

A draft bill dubbed the "Clean Cloud Act of 2025" introduced to the U.S. Senate by Democratic Senators Sheldon Whitehouse and John Fetterman seeks to curb emissions from crypto mining facilities and AI data centers, with the eventual goal of fining any facility using non-renewable energy sources by 2035.

The draft bill would amend the Clean Air Act to require data centers with more than 100 kW of energy capacity to meet emissions caps that vary by region, as laid out in the Department of Energy's National Transmission Needs Study.

The caps would be set by the end of 2025, and would lower by 11% each year until reaching zero in 2035. Facilities that exceed the emissions caps would pay inflation-adjusted fees based on how much their emissions exceeded the caps, and are forbidden from passing the costs off to customers.

The collected funds would be used to alleviate potential residential electricity cost increases through grants to local municipalities and also to fund clean energy deployment.

"Crypto & AI data centers can support clean energy, but they're burning more fossil fuels & driving up families’ energy prices instead," the X account representing the Democrats of the Senate Committee on Environment and Public Works wrote. "We can lead on AI & climate safety with [Whitehouse]’s Clean Cloud Act, which ensures that the industries profiting also pay their own way."

The facilities would also be required to make detailed annual reports about their electricity consumption and sourcing, allowing the EPA to calculate the greenhouse gas emission intensity of each facility, and evaluate any possible fines based on the regional caps.

The responsibility for paying the fines would be assigned to the tenants leasing the facilities, not the landlords, which could loop in startups renting server space to the reporting requirements and fines.

The bill will likely face opposition from Republicans in Congress. President Trump has expressed a desire for the United States to become the world's most significant Bitcoin mining power. President Trump's eldest sons are also planning to take their own Bitcoin mining company public, The Block previously reported.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

SENATOR ELIZABETH WARREN LAUNCHES FRESH OFFENSIVE ON CRYPTO

▪️Senators Elizabeth Warren, Mazie K. Hirono, and Dick Durbin want the DoJ’s decision to terminate crypto investigations reversed.

▪️The Senators raise concerns over the DoJ’s shift in priorities, terming it a “grave mistake.”

▪️The lawmakers point out possible conflicts of interest, highlighting President Trump’s cryptocurrency ventures as potential beneficiaries.

Senators Elizabeth Warren (ranking member of the United States (US) Senate Committee on Banking, Housing, and Urban Affairs) alongside Mazie K. Hirono (senior member of the Senate Judiciary Committee) and Dick Durbin (ranking member of the Senate Judiciary Committee) led a team of six senators calling on the Deputy Attorney General Todd Blanche to recall and reverse the decision taken by the Department of Justice (DoJ) to terminate cryptocurrency investigations and prosecutions.

The decision reported by FXStreet was communicated to the agency’s staff in a memo and included information on the disbandment of the National Cryptocurrency Enforcement Team (NCET), which was established to investigate and prosecute people charged with the criminal misuse of digital assets.

Senators protest the DoJ decision to terminate cryptocurrency investigations

The Senators addressed their concerns in a letter sent to Deputy Attorney General Todd Blanche, raising concerns about a conflict of interest between the DoJ’s decisions and US President Donald Trump and his family’s cryptocurrency ventures.

According to the lawmakers, the memo gives “a free pass to cryptocurrency money launderers,” referring to the actions as “grave mistakes that will support sanctions evasion, drug trafficking, scams and child sexual exploitation.”

The DoJ memo outlined that the agency will no longer act on several federal laws targeting entities and institutions that deal with cryptocurrencies.

The list included mixing and tumbling services often utilized as conduits for hiding illegal assets and laundered money — proceeds from illegal activities like scams, drug trafficking, child sexual abuse and theft.

“Drug traffickers, terrorists, fraudsters, and adversaries will exploit this vulnerability on a large scale,” the Senators wrote, adding that “further increasing the risks posed by bad actors is your decision to disband NCET, which has coordinated a Department-wide effort to prosecute illicit activity involving cryptocurrency.”

Blanche’s memo indicated that the resolution to disband NCET would ensure that the DoJ “focus on other priorities, such as immigration and procurement frauds.”

The letter also stipulated that the shift in the DoJ’s priorities hints at the conflict of interest with President Trump and his family potentially selling cryptocurrency and avoiding “law enforcement scrutiny.”

The Senators concluded their letter by requesting Blanche to reconsider the decisions communicated in last week’s memo.

President Trump’s administration has implemented several major actions aimed at creating a crypto-friendly environment in the US. On January 23, an executive order was signed to foster regulatory clarity and ban central bank digital currencies (CBDCs).  On March 6, the President signed an executive order establishing a strategic Bitcoin reserve and digital assets stockpile.

Other actions taken by President Trump include establishing a crypto task force and spearheading a policy shift at the Securities and Exchange Commission (SEC). On January 23, the SEC canceled Staff Accounting Bulletin No. 121 (SAB 121), which made it difficult for institutions to hold and custody digital assets.

At the time of writing on Monday, Bitcoin (BTC) and other cryptocurrencies remain relatively elevated from early last week’s levels, which had been battered by President Trump’s reciprocal tariffs. The President suspended the tariffs for 90 days on Wednesday, triggering relief rallies in global markets, including crypto.

@ Newshounds News™
Source:  FX Street

~~~~~~~~~

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Countries Dumping USD? Failed Treasury Auction

Countries Dumping USD? Failed Treasury Auction

David Lin:  4-13-2025

The global financial landscape is shifting, and whispers of the US dollar’s diminishing dominance are growing louder. A recent failed Treasury auction has added fuel to the fire, prompting economists and analysts to question the stability of the US economy and the future of inflation.

David Lin recently spoke with Steve Hanke, Professor of Applied Economics at Johns Hopkins University, to unpack these concerns. Hanke, a renowned economist known for his expertise in currency boards and hyperinflation, offered a sobering perspective on the current economic climate.

One of the most alarming topics discussed was the recent failed Treasury auction. These auctions are crucial for the US government to finance its debt and operating expenses.

When an auction fails, it signals a lack of investor confidence, potentially leading to higher interest rates and increased borrowing costs for the government. Hanke didn’t mince words, stating that the failed auction indicates “things are just warming up,” suggesting that more economic turbulence is on the horizon.

This lack of investor confidence is often linked to concerns about burgeoning US debt levels. As the national debt continues to climb, some nations are reportedly considering diversifying their reserves by moving away from the US dollar in favor of other currencies or assets, a process known as de-dollarization. While not a sudden exodus, this gradual shift could weaken the dollar’s position as the world’s reserve currency.

Hanke also addressed the burning question of recession odds. While economic indicators often paint a mixed picture, Hanke leaned towards a more pessimistic view, suggesting that the risk of a recession remains elevated. He emphasized that the Fed’s tight monetary policy, aimed at curbing inflation, could potentially trigger a downturn.

Speaking of inflation, Hanke pointed out that despite the Fed’s efforts, inflation is proving to be persistent. He warned that controlling inflation might be a longer and more challenging process than many anticipate. This persistence, coupled with potential recessionary pressures, presents a complex challenge for policymakers.

While the prospect of a declining dollar and a potential recession is undoubtedly concerning, it’s crucial to remember that economies are dynamic and constantly evolving. The conversations sparked by events like the failed Treasury auction are essential for understanding the changing landscape and making informed decisions about the future.

As Hanke suggests, these are just the first rumblings of what could be a significant shift in the global financial order. It’s a time for vigilance, careful analysis, and a preparedness to adapt to the evolving economic reality.

https://youtu.be/_OzfBdodLu4

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 4-13-25

Good Afternoon Dinar Recaps,

SEC PUBLISHES DISCLOSURE GUIDANCE FOR CRYPTO ISSUERS

The US Securities and Exchange Commission (SEC) published guidance on the application of disclosure requirements to crypto-asset securities issuances. It acknowledged that this is an interim step while the SEC Crypto Task Force works on comprehensive guidance. Issuers are expected to comply for the issuance of debt or equity, or a crypto-asset token which is an investment contract at the point of issuance.

Commissioner Peirce has previously noted that many cryptocurrency tokens might be investment contracts subject to securities laws at the point of issuance, but subsequently evolve into commodities. Precisely how that transition is assessed remains to be seen.

The latest guidance might be described as a layman’s guide of what is expected in an S-1 filing, which is made for a securities issuance. However, there are a few points that will particularly impact crypto projects.

Securities: Disclosures that crypto firms need to adapt to

For example, we’ve seen a few crypto projects where the description appears overly technical. The SEC says the business description must be “presented in clear, concise, and understandable language, without overly relying on technical terminology or jargon.”

Some crypto projects have pseudonymous founders. The problem is someone who is extremely dodgy and has been convicted of crimes will embrace the opportunity to take on a pseudonymous persona. While the guidance doesn’t mention pseudonymous founders, it clarifies that officers have to be identified, including those that may not have formal roles but “perform policy-making functions”.

Beyond the very early stages, the issuers of most cryptocurrencies don’t know the identities of the token holders. But at the point of issuance they at least know their wallet addresses. Securities laws require there to be a record of ownership, and the issuer has to disclose where that record is held. This will require crypto firms to get more investor data at issuance and could prove tricky in the early stages of secondary market trading.

Another topic that many crypto firms don’t really address, is what happens if the project fails. Who has the rights to what? That’s something that securities disclosures demand. Additionally, many crypto projects when issuing tokens are often vague about who owns the equity in the issuer. Again, that does not fly in a compliant world.

These new disclosure expectations represent just one element of the SEC’s evolving approach to cryptocurrency regulation under the new leadership of Acting Chair Uyeda. The first action was to rescind SAB 121 that prevented banks from providing digital asset custody.

It has provided guidance on meme coins, crypto mining and stablecoins. Plus, it created a crypto taskforce, which held the first of several crypto roundtables, and it withdrew from various legal cases.

@ Newshounds News™
Source:  Ledger Insights

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BRICS LAUNCHES INITIATIVE FOR INTERNATIONAL PAYMENTS SYSTEM

Amid increased geopolitical uncertainty, the BRICS alliance is taking action, as the bloc has launched an initiative for an international payment system. Indeed, Russian foreign minister Sergey Lavrov has announced the efforts for the bloc to create a payment system that rivals the Western-dominated SWIFT in a recent statement.

The efforts come as a global trade war appears to be inching closer. China, one of the original BRICS countries, is caught in a battle of increased tariffs with the United States that may soon create even more divide and disdain between the West and the Global South.

BRICS Launching New Payment System Initiative Amid Rising Global Tensions

The global economy has seen tension increase over the last two weeks. Specifically, the United States unveiled a new Liberation Day tariff plan, introducing a baseline 10% import duty on all nations. The move sparked concern and outrage, with several countries responding in kind.

The US stock market plummeted, with the economy’s fragility being placed front and center. So, the country opted to place a 90-day pause on the tariff for every nation outside of China. However, the presence of these economic policies has not come without preparatory actions by various nations. Among them is BRICS, which officially launched an initiative for an international payment system.

Russian official Sergey Lavrov discussed the project in a recent statement. “There is an opportunity to form payment platforms that are independent of external influence,” he said. “One of the options is the financial messaging system of the Russian Central Bank.”

Moreover, Lavrov added that the project would be “convenient and completely independent of SWIFT.” Additionally, he highlighted the presence of “several other initiatives under discussion, including within the BRICS framework.”

The proposal to create an alternative payment platform was proposed by Brazil, Lavrov confirmed. Indeed, Brazil is the 2025 BRICS chairman and has been outspoken in its de-dollarization hopes for much of the last several years. This move appears to be aligned with that perspective.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Sunday Afternoon 4-13-25

Al-Sudani: The Return Of The Arab Bank Is Important And Reflects The State Of Political And Economic Stability

Banks   Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani stressed on Sunday that the return of the Arab Bank is important and reflects the state of political and economic stability.

The Prime Minister's media office said in a statement seen by Al-Eqtisad News, "Prime Minister Mohammed Shia al-Sudani received, today, Sunday, a delegation from the Arab Bank, headed by Sabih al-Masri, Chairman of the Bank's Board of Directors, accompanied by a number of members of the Bank's Board of Directors, on the occasion of the upcoming opening of the Bank's branch (Arab Bank/Iraq) in the capital, Baghdad."

He added, "During the meeting, they discussed enhancing cooperation between Iraq and the bank in the financial and banking fields, and the bank's participation in financing various investment projects."

The Prime Minister emphasized that "Arab Bank has had a direct presence in Iraq for nearly eighty years," explaining that "its return now is significant and reflects the political and economic stability the country is currently experiencing."

The Prime Minister pointed out "the importance of the bank's activities not being limited to providing financial services, but rather contributing to the country's development and economic stability," stressing "the government's readiness to provide all forms of support and assistance to enhance Arab and foreign banking activity, serving the Iraqi economy and its development."

For its part, the bank's delegation expressed its "willingness to finance a number of investment projects and expand its banking activities, in a manner that will contribute to creating job opportunities and stimulating the economic sector."  https://economy-news.net/content.php?id=54398

The Minister Of Commerce Discusses Ways Of Joint Economic Cooperation With The President Of The American Company (AGMS).

Sunday, April 13, 2025 | Economic Number of reads: 215   Baghdad / NINA / Minister of Trade Atheer Dawood Al-Ghariri discussed with the President of the American company (AGMS) ways of joint economic cooperation.

The Ministry of Trade said in a statement that "Minister of Trade, Atheer Dawood Al-Ghariri, met today, Sunday, with the President of the American company (AGMS), Dr. Eisen, and his accompanying delegation, and discussed with him the prospects of joint economic cooperation and ways for American companies to enter the Iraqi market.

During the meeting, the Minister stressed the importance of building real strategic partnerships with American companies, in a way that achieves common economic interests that benefit the national economy.

The two sides discussed the possibility of establishing an American hospital in Iraq, with the aim of transferring expertise and successful experiences in the field of health services, and strengthening the infrastructure of the health sector, which contributes to providing advanced medical services to citizens.

Minister Al-Ghariri expressed the ministry's readiness to provide all necessary facilities for the success of this initiative, stressing his full commitment to facilitating all procedures for American companies wishing to invest in Iraq, especially in vital sectors that have a direct impact on the lives of citizens.

For his part, the President of the company (AGMS) expressed his appreciation for the role of the Ministry of Trade in creating an attractive environment for investment, stressing that Iraq is a promising market for American companies, which Looking forward to expanding areas of cooperation, especially with regard to providing job opportunities for youth, and contributing to the development of vital services and infrastructure./End  https://ninanews.com/Website/News/Details?key=1197440

The World Bank Announces Its Readiness To Provide Project Financing Facilities In Iraq.

Money and Business   Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani stressed on Sunday the importance of private sector projects receiving support from the World Bank.

The Prime Minister's media office said in a statement received by Al-Eqtisad News that "Prime Minister Mohammed Shia Al-Sudani received the World Bank's Vice President for the Middle East and North Africa Region, Ousmane Dione, and his accompanying delegation."

The World Bank delegation, according to the statement, reviewed "the projects under discussion with the ministries and relevant authorities in Iraq, in the railway, highway, and energy sectors, including the fixed gas platform in the port of Faw, and the Ministry of Electricity's plan for the coming years to expand electricity production, transmission and distribution, and other infrastructure projects.

" The Prime Minister appreciated "the World Bank's efforts in supporting Iraq," stressing the importance of "private sector projects receiving support from the bank through the International Finance Corporation (IFC)."

For his part, the head of the delegation expressed "the World Bank's readiness to stand with Iraq in its development renaissance in all fields, as well as its readiness to provide facilities in financing projects, including private sector projects."    https://economy-news.net/content.php?id=54395

Ports Launch A Digital System For Controlling And Auditing Invoices.

The Border Ports Authority has adopted an integrated digital system that includes pre-inspection programs, import license verification, sonar linking, and electronic goods analysis. This is part of a government plan to improve customs work efficiency and accelerate information exchange with relevant authorities.

The head of the ports, Major General Omar Al-Waili, said in a statement yesterday that “the border ports are now adopting electronic programs to verify the entry of goods and prevent smuggling, such as the pre-inspection program, the import license program, the exempted goods program, and the audit of invoices and certificates of origin.”

He added, “Pre-inspection also includes cross-referencing inspection results with inspection companies and the Standardization and Quality Control Authority, in addition to networking sonar and analysis of goods arriving into the country, and electronic communication with most departments operating at the border ports for integration, coordination, and electronic information exchange to quickly seize violating materials.”

 The authority also seized 15 vehicles of substandard models intended for smuggling at the Umm Qasr Middle Port.

A statement received by Al-Zaman yesterday stated that “based on the directives of the Commander-in-Chief of the Armed Forces, Mohammed Shia Al-Sudani, the ports continue to implement operations to seize vehicles without the model permitted to be imported and intended to be smuggled by the weak-minded, as the Directorate of the Umm Qasr Middle Port, in cooperation with the Customs Center and Customs Police, was able to seize three 40-foot containers containing 15 Toyota Crown vehicles without the model permitted to be imported, prepared for smuggling.

” It indicated that “a formal seizure report was prepared and the vehicles were referred to the Umm Qasr Customs Police Station to take appropriate legal action against all those involved in the matter so that they receive their just punishment in accordance with the law.”

Smuggling Attempt

In a related development, the General Authority of Customs thwarted an attempt to smuggle two vehicles without the model allowed to be imported through Umm Qasr Port.

A statement received by Al-Zaman yesterday explained that “the Umm Qasr Middle Customs Center in Umm Qasr Port was able to thwart an attempt to smuggle two Jeep vehicles without the model allowed to be imported.

” The statement confirmed that “the seizure operation was carried out through joint cooperation with the Border Ports Authority and supporting government agencies in the port, with support from the Customs Police.”

 The Authority had previously announced the activities of the customs centers and investigation and anti-smuggling departments.

The statement pointed out that "the Investigation and Anti-Smuggling Department of the Central Region Customs Directorate seized 11 trucks loaded with carpet, cardboard, silicone, plastic granules, cigarettes, motorcycles, spare parts, hair shampoo, and chicken breast," adding that "the Investigation and Anti-Smuggling Department of the Northern Region Customs Directorate succeeded in seizing four trucks loaded with household supplies, accessories, iron, milk, motorcycles, and spare parts."

The statement continued, "The Arar Border Customs Center arrested the owner of a Tahoe tourist vehicle with Dubai license plates who was intending to leave for the Kingdom of Saudi Arabia without paying the late fees due on the vehicle."

 Meanwhile, the National Security Service foiled two drug smuggling operations using innovative methods after hiding the drugs in electrical devices and sandals.

A statement received by Al-Zaman yesterday said that "the Service's detachments succeeded in thwarting two separate attempts to smuggle drugs in the governorates of Baghdad and Basra, revealing various methods used by smugglers to conceal these toxins."

Professional Style

He added, "The detachments succeeded in arresting a drug dealer who used a professional method of hiding narcotics inside electrical appliances and equipment. The operation resulted in the seizure of 700 grams of crystal meth inside these devices.

" He confirmed that "the apparatus' detachments in Basra carried out a second special operation that resulted in the arrest of another suspect who used a different method, as he deliberately hid 400 grams of crystal meth inside a sandal."

Meanwhile, Interior Minister Abdul Amir Al-Shammari directed the formation of 226 main and sub-committees to inspect and evaluate the work of police stations in Baghdad and the governorates.

A statement received by Al-Zaman yesterday said that "Al-Shammari chaired a conference of the main and sub-committees of the Baghdad and governorate police commands, in the presence of the Undersecretary of the Ministry for Police Affairs, where he directed the formation of more than 226 main and sub-inspection committees to evaluate the work of police stations in 16 police commands in the governorates." Al-Shammari stressed that "the committees must submit their reports within seven days of commencing their work."   LINK


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

As US Financial System Falls Apart, Russia Begins BRICS Payments Network to Bypass SWIFT

As US Financial System Falls Apart, Russia Begins BRICS Payments Network to Bypass SWIFT

Sean Foo:  4-13-2025

The simmering trade tensions between the United States and China have reached a boiling point, with former President Donald Trump escalating the conflict to a potentially dangerous new level.

 In a move widely seen as retaliation for China’s own retaliatory measures, Trump has proposed a staggering 50% tariff hike on Chinese imports, effectively pushing the total tariff burden to over 100% on some goods. This aggressive move has sent shockwaves through the global economy, raising serious concerns about the imminent eruption of a full-blown global trade war.

For years, Trump has accused China of unfair trade practices, including intellectual property theft, currency manipulation, and dumping of goods at artificially low prices. He initially imposed tariffs on billions of dollars worth of Chinese imports during his presidency, prompting reciprocal tariffs from Beijing on American goods.

 This tit-for-tat exchange has already disrupted global supply chains, increased costs for consumers, and dampened economic growth.

Now, with the proposed 50% tariff increase, Trump is significantly upping the ante. The impact of such a drastic measure would be far-reaching and could cripple trade relations between the two economic powerhouses.

While the situation appears dire, there is still a possibility of de-escalation. Diplomatic negotiations and a willingness to compromise are crucial to finding a way out of this escalating conflict. Both the US and China need to address their underlying concerns about trade practices and intellectual property rights.

However, Trump’s hardline stance suggests that a swift resolution is unlikely. His supporters argue that a tough approach is necessary to level the playing field and protect American interests. Critics, on the other hand, warn that a trade war would ultimately hurt American businesses and consumers.

The coming months will be critical in determining whether the world is headed for a full-blown global trade war. Trump’s proposed tariff hike represents a significant escalation, and the response from China and the rest of the world will be decisive.

If cooler heads do not prevail, the consequences for the global economy could be severe. The stakes are high, and the world is watching with bated breath.

Watch the video below from Sean Foo for further insights and information.

https://youtu.be/2o2tpd9o7f4

Iraq Economic News and Points to Ponder Late Saturday Evening 4-12-25

For The Second Week In A Row, Iraqi Oil Records A Significant Loss

Energy   Economy News – Baghdad  Basra Heavy and Medium crude oil recorded a significant weekly loss for the second consecutive week.

Basra Heavy crude closed its final session on Friday, up $1.44 to $61.69, but recorded a weekly loss of $5.28, or 7.88%.   Basra Medium crude also closed its last session up $1.44 to $70.02, recording a weekly loss of $5.18, or 7.4%.
 

Oil markets are experiencing their second consecutive weekly loss, due to concerns about the ongoing trade war between the United States and China.

Brent crude also fell more than 1% during the week, while West Texas Intermediate crude fell by a similar percentage, after both benchmarks witnessed a decline of 11% last week. https://economy-news.net/content.php?id=54352

Prime Minister: The Government Has Succeeded In Confronting Various Internal And External Crises.

Local  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani affirmed on Saturday that the government has successfully confronted various crises, both internal and external, and has shouldered its responsibilities despite the changes and events taking place in the region.

The Prime Minister's Media Office said in a statement, seen by Al-Eqtisad News, that "Prime Minister Mohammed Shia al-Sudani met in Erbil Governorate with the Prime Minister of the Kurdistan Regional Government, Masrour Barzani.

" The statement added that "a number of national files and issues were discussed (during the meeting), the most prominent regional and international developments, and the government's position on the crises facing the region. The importance of partnership and coordination in facing challenges and adopting a balanced policy based on cooperation and mutual interests with sisterly and friendly countries were also emphasized."

Al-Sudani pointed out, according to the statement, that "the government has succeeded in confronting various crises, both internal and external, and has shouldered its responsibilities despite the changes and events taking place in the region," reiterating "the pursuit of developing the national economy and establishing stability across the country."

The statement continued, "The meeting also touched on the importance of working to find solutions to all common issues and removing all obstacles in accordance with the constitution and the law, in a manner that achieves justice and benefit for all Iraqis." https://economy-news.net/content.php?id=54372

Customs Announces The Activities Of The Centers And Investigation And Anti-Smuggling Departments.

Money and Business  Economy News – Baghdad  The General Authority of Customs announced on Saturday the activities of customs centers and investigation and anti-smuggling departments.

The authority said in a statement, seen by Al-Eqtisad News, that "in implementation of the directives of the Director General of the General Authority of Customs, Thamer Qasim Daoud, and in continuation of the tireless efforts of the investigation and anti-smuggling departments and customs centers to control all goods entering the country, limit smuggling and tampering operations, and support the state treasury revenues and advance the Iraqi economy, and within the applicable instructions and controls, the customs departments and centers were able to seize a group of violating goods."

She explained that “the Investigation and Anti-Smuggling Department in the Central Region Customs Directorate seized, in several separate operations, (11) trucks loaded with (carpet, cardboard, silicone, plastic granules, cigarettes, motorcycles and spare parts, hair shampoo, chicken breast), while the Investigation and Anti-Smuggling Department in the Northern Region Customs Directorate was able to seize (4) trucks loaded with (household materials, accessories, iron, milk, motorcycles and spare parts),” noting that “the Umm Qasr Middle Customs Center seized (3) 40-foot containers loaded with (15) Toyota Crown type wheels without the model permitted to be imported.”

She added that "the Arar Border Customs Center seized the owner of a Tahoe tourist vehicle bearing Dubai license plates, who was attempting to leave for Saudi Arabia without paying the late fees due on the vehicle."

 She noted that "these efforts come through cooperation with supporting government agencies within the framework of the relentless pursuit to enhance economic security and protect society from the risks associated with illegal shipments, in addition to supporting the national economy and adhering to the applicable customs regulations and laws."   https://economy-news.net/content.php?id=54374

The Dollar Price Rose In Local Markets.

Saturday, April 12, 2025 | Economic Number of reads: 162  Baghdad / NINA / The dollar exchange rates witnessed a rise in the markets of Baghdad and Erbil, this Saturday morning.

The dollar exchange rates in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 148,000 dinars for every 100 dollars.

The selling price in exchange shops in the local markets in Baghdad recorded 149,000 dinars, while the purchase price reached 147,500 dinars, for every 100 dollars.

In Erbil, the selling price of the dollar was recorded at 149,100 dinars, and the purchase price was 147,800 dinars, for every 100 dollars. / https://ninanews.com/Website/News/Details?key=1197210

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 4-13-25

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NEW YORK LAWMAKER INTRODUCES BILL THAT WOULD ALLOW STATE AGENCIES TO ACCEPT CRYPTO PAYMENTS

A new bill working its way through New York’s legislature would allow residents to pay state agencies with crypto.

New York State Assemblyman Clyde Vanel (D-Queens) introduced Assembly Bill A7788 on Thursday, and the potential legislation was referred to the Standing Committee on Governmental Operations.

If passed, the bill would enable all state agencies to enter into agreements with individuals to receive crypto payments for fines, civil penalties, rent, rates, taxes, fees, charges, revenue and/or financial obligations.

Other states have also taken similar steps. In 2022, Colorado became the first state to accept crypto for tax payments, and last September, Louisiana enabled its residents to pay for state services with digital assets. Similar bills have also bubbled up in California and Florida.

Vanel introduced similar bills in 2017, 2019, 2021 and 2023. The lawmaker, who has a long history of supporting crypto-related legislation, also recently introduced Assembly Bill 7716, which would direct the New York State Board of Elections to study and evaluate the use of blockchain technology to protect voter records and election results.

If passed, the bill would require the State Board of Elections to submit a report about blockchain technology to the governor and the legislature within a year of the legislation taking effect.

@ Newshounds News™
Source:  DailyHodl

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WHAT HAPPENS IF BRICS DITCHES THE US DOLLAR?

The US dollar is the most important currency in the markets that controls and dominates the world’s financial sector. Almost all cross-border transactions, trade settlements, and foreign exchange conversions are conducted using the USD. Local currencies are far behind with little to no chance of becoming the global reserve currency.

This gives the White House the power to weaponize the currency and control the world’s trade and finances. BRICS has decided to put an end to the US dollar domination by giving local currencies a chance to compete against the greenback.

Here’s What Will Happen If BRICS Ends US Dollar Reliance

The BRICS alliance is scheming to replace the US dollar with either a new currency or their local currencies. The bloc is divided in the prospects but is united to achieve the goal by hook or crook. They also confirmed that despite slow progress, the alliance’s long-term goal is to bring the US dollar down.

America imports the USD to other countries and using it for transactions leads to surplus. However, ending reliance on the greenback will lead to a deficit allowing the economy to face a crisis.

Top 3 US sectors that could decline if BRICS ditches the dollar for trade:

1.  Banking and Finance
2.  Technology and Fintech
3.  International Trade and Investment

These three sectors will be the hardest hit and lose control if BRICS officially ditches the US dollar for trade. All three sectors are closely linked to the American economy and the financial markets as we know it will fall apart.

Turbulence in the banking and investment sector will spill over to other markets eventually bringing the US economy down. It could lead to hyperinflation in the homeland making the costs of daily essentials skyrocket. Consumer spending could decline and eat into revenues of American corporations eventually leading to job losses.

@ Newshounds News™
Source:  Watcher Guru

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“Tidbits From TNT” Sunday Morning 4-13-2025

TNT:

Tishwash:  World Bank to Sudan: Ready to finance projects in Iraq

Prime Minister Mohammed Shia al-Sudani discussed projects under discussion with ministries in the railway, highway, and energy sectors on Sunday with a World Bank delegation. The delegation head expressed the bank's willingness to stand with Iraq and finance projects, including those in the private sector.

 Prime Minister Mohammed Shia al-Sudani received today, Sunday, the World Bank's Vice President for the Middle East and North Africa, Mr. Ousmane Dione, and his accompanying delegation.

The World Bank delegation reviewed projects under discussion with relevant ministries and authorities in Iraq in the railway, highway, and energy sectors, including the fixed gas platform at Faw Port, the Ministry of Electricity's plan for the coming years to expand electricity production, transmission, and distribution, and other infrastructure projects.

The Prime Minister praised the World Bank's efforts in supporting Iraq, stressing the importance of private sector projects receiving support from the Bank through the International Finance Corporation (IFC).

For his part, the head of the delegation expressed the World Bank's readiness to support Iraq in its development renaissance in all areas, as well as its willingness to provide project financing facilities, including private sector projects.  link

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Tishwash:  With the participation of 1,200 local and foreign companies, the Babylon Business and Investment Forum kicks off.

The Business and Investment Forum kicked off in Babil Governorate today, Saturday, with the participation of 1,200 local, Arab, and foreign companies, showcasing 450 investment opportunities in various sectors.

An Iraqi News Agency (INA) correspondent said, "The Business and Investment Forum kicked off in Babil Governorate, with the participation of 1,200 local, Arab, and foreign companies, showcasing 450 investment opportunities in the electricity, industry, tourism and antiquities, agriculture, and transportation sectors."

He added, "The forum was held in the presence of the Chairman of the Military Industrialization Authority, the Governor of Babil, the Chairman of the Provincial Council, three governors from the Islamic Republic of Iran, in addition to representatives of American, German, and international companies, and a number of members of the Iraqi Council of Representatives."  link

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Tishwash: Iraq and Venezuela discuss joint coordination to support stability in global oil markets.

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed on Saturday with his Venezuelan counterpart, Ivan Gil Pinto, joint coordination to support the stability of global oil markets, in a manner that serves the interests of both producing and consuming countries. 

A statement by the Ministry of Foreign Affairs, seen by Al-Eqtisad News, stated that "Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, met with the Minister of Foreign Affairs of the Bolivarian Republic of Venezuela, Ivan Gil Pinto, on the sidelines of their participation in the Antalya Diplomatic Forum (ADF2025) held in the Turkish province of Antalya."

The statement added that "the meeting discussed ways to enhance bilateral relations between Iraq and Venezuela, especially in the fields of energy, trade and investment, within the framework of the historical relations that bring the two countries together within the OPEC organization. The two sides also discussed the importance of joint coordination to support the stability of global oil markets, in a way that serves the interests of both producing and consuming countries."

According to the statement, Fuad Hussein expressed "Iraq's aspiration to expand cooperation with Venezuela, especially in the field of oil companies and promising economic sectors," stressing "the importance of strengthening the partnership between the private sectors in both countries."

The statement continued, "Ivan Gil Pinto, for his part, affirmed his country's commitment to strengthening bilateral dialogue, extending an official invitation to Fuad Hussein to visit Venezuela," and expressing his "welcome to visit the capital, Caracas, as soon as possible to continue discussions on prospects for joint cooperation."

The statement continued, "The meeting addressed regional and international issues of common interest, including efforts to achieve stability in the Middle East and Latin America, with both sides stressing the importance of adopting political solutions to crises and respecting the sovereignty of states."  link

Mot: the Hunt!! -- gets More Exciting Year after Year!!!

Sum Getting Ready Already they Is!!!

Militiaman & Crew: IQD Update-Iraq-USA-In agreement-Al-Sudani /Erbil talks Oil & Salaries-All Exchange Rate Oriented

Militiaman & Crew: IQD Update-Iraq-USA-In agreement-Al-Sudani /Erbil talks Oil & Salaries-All Exchange Rate Oriented

4-13-2024

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

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

https://www.youtube.com/watch?v=6DRTZTupEzs

Iraq Economic News and Points to Ponder Saturday Afternoon 4-12-25

Rafidain Bank: Launching Online Banking Service After Activating Anti-Money Laundering And Counter-Terrorism Financing Regulations.

Economy | 11:36 - 11/04/2025  Mawazine News – Baghdad  Rafidain Bank announced today, Friday, the launch of the online banking service OBDX after activating the Anti-Money Laundering and Combating the Financing of Terrorism (AML) systems.

The bank stated in a statement received by (Mawazine News) that "the online banking service OBDX (Online Banking Digital Experience) was launched after activating the Anti-Money Laundering (AML) and Government Online Anti-Money Laundering (GOAML) systems. The service has been successfully activated in a number of government agencies."

He explained that "this decision comes within the framework of the bank's strategy to provide a safe banking environment that adheres to the latest international standards for combating money laundering and terrorist financing, as well as facilitating electronic financial transactions for government agencies."

He explained that "OBDX is an innovative digital banking experience. The OBDX service represents a qualitative leap in the way banking transactions are conducted, as it allows government agencies to access their accounts and conduct all their banking operations easily and securely online.

This service helps speed up processes and reduce reliance on paper procedures, which contributes to improving efficiency and enhancing transparency."

He pointed out that "the role of the AML and GOAML systems in ensuring compliance. In parallel with the launch of the OBDX service, Rafidain Bank activated the Anti-Money Laundering (AML) and GOAML systems to ensure full compliance with international standards for combating money laundering and terrorist financing.

The AML system automatically monitors financial transactions and analyzes suspicious patterns, while the GOAML system records and analyzes banking data to ensure it is not used for illegal activities."

He pointed out that the advantages of the OBDX service, supported by compliance systems, include:
1. Superior security: Integrated systems ensure full compliance with international standards, enhancing the security of financial transactions.

2. Global compliance: The bank ensures the highest levels of transparency and compliance with international anti-money laundering laws.

3. Ease of access: Enables government agencies to conduct financial transactions easily and securely online without the need to visit branches.  https://www.mawazin.net/Details.aspx?jimare=260737

Government Advisor: Solutions To Prevent The Risks Of Commodity Dumping On The National Economy

Economy | 11:41 - 11/04/2025  Mawazine News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, announced on Friday solutions to prevent the risks of commodity dumping on the national economy.

The advisor to the Prime Minister, Mazhar Mohammed Salih, said: "There are important events that are changing the balance of power in the Iraqi economy, including the beginning of Iraqi economic policy to put an end to the phenomenon of commodity dumping resulting from commercial chaos, which came as a result of the dominance of the concept of commercial liberalism practiced by the commercial community by flooding the market with marginal goods devoid of value and meaning, without coordination and oversight over the past decades."

He explained that "this matter confiscated the national production function and stripped it of its professional capabilities, whether in the accumulation of its professional capabilities, which was reflected in the loss of thousands of job opportunities from the craft sector and the national professions sector, the disruption of the national workshop and factory, and the perpetuation of unemployment, because the craft sector absorbs 60% of the labor force, as is historically known,"

pointing to "the transformation of national capital in the productive industrial and agricultural field and its direction towards the activity of what is called financial capital, which is an activity that seeks quick profit through trading in consumer goods and others that have flooded the local market with products that are alternatives to the national product."

He added, "These products have even suppressed the idea of ​​producing a new, similar product due to their incredibly low prices and their source in various Asian markets, allowing the profits resulting from trade and dumping to be invested in symbolic markets, i.e., the capital markets in the first world or their branches.

These are the mechanisms that led to commodity dumping and the results of its profits by striking the national economy in three directions: the first: liquidating the productive craft and industrial environment, the second: sustaining unemployment and the accumulation of human capital, and the third: converting the profits of productive national capital into practices of what is called (financial capitalism) with high historical accumulation."

Saleh explained that "these practices are based on plundering the economic surplus of craftsmen, industrialists and real producers, in addition to transferring the physical capital accumulations to global capital markets for investment there, and emptying the country of the agents of development and productive economic capital accumulation in all important fields, especially industrial ones."

He explained that "commercial or commodity dumping represents the qualitative opposite of the policy of localizing national capital, which requires a clear Iraqi protection policy that protects the national product with a gradual and practical customs fence, to be part of the process of market reform and disentangling the random clash in the import policy with national production and the loss of productive job opportunities."   https://www.mawazin.net/Details.aspx?jimare=260739

Gold Hits Record High, Exceeding $3,100 For The First Time In History

Economy | 11:53 - 11/04/2025  Mawazine News – Baghdad  Gold made further gains in spot trading, rising 2.72% to $3,166 per ounce, coinciding with the escalation of the trade war between the world's two largest economies, the United States and China.

Gold prices rose about 3% after China imposed additional tariffs on the United States, in addition to the decline of the dollar after US President Donald Trump's tariffs on China took effect. Most traders turned to gold as a safe haven amid escalating global trade tensions and recession fears.

Gold exchange-traded funds (ETFs) recorded their largest positive quarterly inflows in three years during the first quarter of the year, reflecting increased demand for hedging by investors. https://www.mawazin.net/Details.aspx?jimare=260742

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