Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20

One Last S&P Rally, then a 50% Crash Like 2008

One Last S&P Rally, then a 50% Crash Like 2008

 Wealthion:  5-6-2025

Are we on the precipice of another financial crisis reminiscent of 2008? Chris Vermeulen, Chief Market Strategist at The Technical Traders, believes so.

In a recent interview with James Connor on Wealthion, Vermeulen laid out a compelling, albeit unsettling, case for a significant market correction, potentially a 30-50% plunge in the S&P 500. He argues that we’re in the final stages of a market “exit-liquidity” squeeze, mirroring the infamous stage-four breakdown that preceded the 2008 collapse.

Vermeulen’s warning hinges on several key factors, including the behavior of institutions, collapsing freight volumes, the impact of tariffs, and concerning signals from the oil market. He paints a picture of Wall Street giants actively “dumping” their holdings onto retail investors, utilizing them as the “exit liquidity” needed before the markets take a nosedive.

One Last S&P Rally, then a 50% Crash Like 2008

 Wealthion:  5-6-2025

Are we on the precipice of another financial crisis reminiscent of 2008? Chris Vermeulen, Chief Market Strategist at The Technical Traders, believes so.

In a recent interview with James Connor on Wealthion, Vermeulen laid out a compelling, albeit unsettling, case for a significant market correction, potentially a 30-50% plunge in the S&P 500. He argues that we’re in the final stages of a market “exit-liquidity” squeeze, mirroring the infamous stage-four breakdown that preceded the 2008 collapse.

Vermeulen’s warning hinges on several key factors, including the behavior of institutions, collapsing freight volumes, the impact of tariffs, and concerning signals from the oil market. He paints a picture of Wall Street giants actively “dumping” their holdings onto retail investors, utilizing them as the “exit liquidity” needed before the markets take a nosedive.

Vermeulen is closely monitoring specific levels on the charts to identify the moment the market truly breaks down. He anticipates a final push potentially pushing the S&P 500 towards 5,950 before the inevitable crash.

He didn’t specify the exact breakdown level, emphasising focusing on the overall market behaviour and momentum shifts rather than a single number. Identifying these trigger points is crucial for investors looking to protect their portfolios.

According to Vermeulen, the current market dynamics bear striking similarities to the lead-up to the 2008 financial crisis. He points to a characteristic “stage-four breakdown,” where initial optimism and a false sense of security give way to a rapid and devastating market decline. The key is to recognize the signs of this final leg and prepare accordingly.

Vermeulen highlights specific stocks that are showing signs of weakness, including tech giants like Apple and Nvidia, as well as data analytics firm Palantir. These companies, once market darlings, are now flashing sell signals, indicating a potential shift in investor sentiment and a broader market downturn.

Vermeulen’s starkest warning is directed towards retail investors. He believes they are being actively used by institutional investors as “exit liquidity” – the buyers who allow them to offload their holdings before the market crash. This highlights the importance of understanding market cycles and avoiding the trap of buying at the top.

While Vermeulen’s outlook is largely bearish, he does see a silver lining in the precious metals market. He predicts that gold is poised to break towards $3,750 once the market shake-out is complete. He also anticipates a short-term correction in the precious metals market before the upward trend resumes.

This suggests that gold and silver could serve as safe-haven assets during the impending market turmoil.

The collapsing price of oil is another key indicator of an impending recession, according to Vermeulen. The decline in oil prices often reflects a decrease in demand, which in turn signals a slowdown in economic activity. This reinforces the overall bearish outlook for the market.

Interestingly, Vermeulen makes a contrarian call on the U.S. dollar. He believes that the dollar will likely strengthen during the downturn, as investors flock to the perceived safety of the U.S. currency. This is a crucial point for investors to consider, particularly those holding assets denominated in other currencies.

Finally, Vermeulen addresses the potential impact of a market crash on Bitcoin and related companies like MicroStrategy. He suggests that Bitcoin’s price will likely decline if risk assets broadly suffer, and MicroStrategy, with its significant Bitcoin holdings, is particularly vulnerable.

Chris Vermeulen’s analysis paints a concerning picture of the current market landscape. While the potential for a final push towards 5,950 on the S&P 500 exists, he urges investors to be vigilant and prepared for a significant market correction.

By understanding the key indicators, monitoring critical chart levels, and recognizing the role of retail investors as exit liquidity, individuals can take steps to protect their portfolios and potentially capitalize on opportunities that arise during the downturn.

While a 2008 repeat is not guaranteed, Vermeulen’s warnings serve as a crucial reminder of the importance of careful analysis and prudent investment strategies in today’s volatile market.

https://youtu.be/7HZvrGGOotE

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“Tidbits from TNT” Wednesday Morning 5-7-2025

TNT:

Ivantulafitov:  I asked this question in the subject line to grok, and this is what happened. Grok is on x.com if you didn't know.

 How will Iraq Dinar go on forex what is the process? What needs to be done

For the Iraqi dinar (IQD) to become internationally tradable and accepted on the foreign exchange (forex) market, a series of economic, regulatory, and technical steps must be undertaken by Iraq’s government, the Central Bank of Iraq (CBI), and international financial institutions. The process is complex, involving both domestic reforms and coordination with global financial systems. Below is an outline of the key steps involved, based on economic principles, current conditions in Iraq, and insights from available information:

TNT:

Ivantulafitov:  I asked this question in the subject line to grok, and this is what happened. Grok is on x.com if you didn't know.

 How will Iraq Dinar go on forex what is the process? What needs to be done

For the Iraqi dinar (IQD) to become internationally tradable and accepted on the foreign exchange (forex) market, a series of economic, regulatory, and technical steps must be undertaken by Iraq’s government, the Central Bank of Iraq (CBI), and international financial institutions. The process is complex, involving both domestic reforms and coordination with global financial systems. Below is an outline of the key steps involved, based on economic principles, current conditions in Iraq, and insights from available information:

1. Economic Stabilization and Policy Reforms

Stabilize the Economy: Iraq must demonstrate a stable macroeconomic environment, as forex markets favor currencies with predictable value and low volatility. This includes controlling inflation, managing fiscal deficits, and ensuring consistent economic growth, particularly given Iraq’s heavy reliance on oil exports.

Currency Peg or Float Decision: Currently, the IQD is pegged to the U.S. dollar (USD) at a fixed rate set by the CBI, which limits its tradability. To be listed on forex markets, Iraq would likely need to transition to a floating or managed float exchange rate system, allowing market forces to determine the IQD’s value. Lifting the peg requires sufficient foreign exchange reserves and confidence in the dinar’s stability.

Build Foreign Exchange Reserves: The CBI must maintain robust reserves of USD, euros, or other major currencies to support the IQD’s value and intervene in forex markets if needed to stabilize the currency. Iraq’s $120 billion in reserves from oil sales provides a foundation, but these must be managed transparently.

2. Regulatory and Legal Framework

Remove Capital Controls: Iraq currently imposes restrictions on currency exchange and capital flows, particularly for USD transactions, to curb illicit financial activities. For the IQD to be tradable, the CBI must ease these restrictions, allowing free conversion of IQD into other currencies for legitimate transactions, supported by valid documentation.

Compliance with International Standards: The CBI must align with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations set by organizations like the Financial Action Task Force (FATF). This builds trust with global banks and forex brokers, addressing concerns about illicit USD flows to sanctioned countries like Iran.

Bilateral and Multilateral Agreements: Iraq may need to strengthen trade and investment agreements, such as those with the U.S. under the Trade and Investment Framework Agreement (TIFA), to facilitate cross-border currency transactions. Membership in the World Trade Organization (WTO) could also enhance the IQD’s credibility, though no explicit WTO rule mandates revaluation or tradability.

3. Central Bank and Banking System Reforms

Modernize the Banking System: Iraq’s banking sector, dominated by state-owned banks like Rafidain and Rasheed, must adopt international standards for electronic payments, wire transfers, and currency trading. The CBI’s efforts to digitize the financial system and regulate exchange companies are steps in this direction.

Establish Market Infrastructure: The CBI must create mechanisms for banks to engage in spot and forward transactions in IQD, enabling liquidity in forex markets. Currently, banks are restricted from forward transactions for speculative purposes, which limits market development.

Engage International Banks: Major global banks, such as Citi or JP Morgan, could be enlisted to hold IQD reserves or facilitate transactions, as seen in recent deals to strengthen USD reserves for Iraqi banks. This would integrate the IQD into global financial networks.

4. Integration into Forex Markets

ISO 4217 Recognition: The IQD already has an ISO 4217 code, ensuring it is recognized as a standard currency. However, for active trading, forex brokers need assurance of liquidity and demand, which depends on the steps above.

Listing on Forex Platforms: Major forex brokers (e.g., FOREX.com, OANDA) must list IQD pairs (e.g., USD/IQD, EUR/IQD). This requires the CBI to work with brokers to ensure sufficient liquidity and low spreads. Currently, the IQD’s low trading volume and high fees at money exchangers deter brokers.

Market Maker Support: Global banks or market makers must be willing to provide bid-ask quotes for IQD pairs, ensuring continuous trading. This depends on Iraq’s economic credibility and the absence of regulatory risks.

5. Global Acceptance and Confidence

Increase International Trade in IQD: For the IQD to be widely accepted, Iraq must encourage its use in international trade, particularly for non-oil exports. Current efforts to settle trade in euros, Chinese yuan, or Indian rupees indicate a move toward diversification, but the IQD itself must gain traction.

Combat Speculative Scams: The IQD has been subject to scams promising massive revaluation, which damages its reputation. The CBI must clarify the currency’s status and crack down on unlicensed brokers to build investor confidence.

Demonstrate Political Stability: Political instability and security risks in Iraq deter forex traders. Sustained governance improvements and reduced militia influence are critical to signaling a stable environment for currency trading.

6. Technical and Operational Steps

Data Feed Integration: The CBI must provide real-time exchange rate data to financial platforms like Bloomberg or Reuters, enabling traders to monitor IQD rates.

Clearing and Settlement Systems: Iraq must integrate with global clearing systems (e.g., SWIFT) to facilitate IQD transactions. The CBI’s platform for regulating wire transfers is a precursor to this.

Broker and Exchange Outreach: The CBI or Iraqi banks must negotiate with forex exchanges and brokers to include IQD pairs, potentially offering incentives like lower transaction costs initially to boost trading volume.

Challenges and Current Status

Limited Tradability: As of May 2025, the IQD is not widely traded on global forex markets due to its fixed exchange rate, low liquidity, and economic uncertainties. It is primarily exchanged through money changers or select Middle Eastern banks, often with high fees (up to 20–30%).

De-Dollarization Efforts: The CBI’s push to ban USD cash transactions by January 2024 and promote IQD for internal trade aims to strengthen the dinar but complicates international tradability in the short term.

Speculative Claims: Posts on X suggest optimism about the IQD becoming tradable soon, with some claiming it is already on forex platforms or will revalue significantly. These claims lack credible evidence and often stem from speculative or fraudulent narratives.

Timeline and Feasibility

The process could take years, depending on Iraq’s ability to address economic, political, and regulatory challenges. Key milestones include:

Short-term (1–2 years): Easing capital controls, modernizing banking, and increasing IQD use in trade.

Medium-term (3–5 years): Transitioning to a managed float and listing on niche forex platforms.

Long-term (5+ years): Achieving sufficient liquidity for major brokers to offer IQD pairs.

Conclusion

For the Iraqi dinar to be internationally tradable on forex, Iraq must stabilize its economy, reform its banking system, ease currency restrictions, and build global confidence in the IQD. The CBI would need to shift from a fixed peg to a floating exchange rate, integrate with global financial systems, and ensure liquidity through market makers. While progress is being made (e.g., digitization, reserve strengthening), significant hurdles remain, including political instability and low trading volume. Speculative claims about imminent tradability should be approached with skepticism, as the process requires sustained, transparent reforms.

 AI:  the question is how much of this list is already complete and how much still needs to be completed? If any.

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

Tishwash: The President of the Republic to the Governor of the Central Bank: The need to develop a sound future strategy for fiscal policy

President Abdel Latif Jamal Rashid stressed on Wednesday the need to exert efforts and develop a solid future strategy for financial policy.

A statement from his media office, received by Al-Eqtisad News, stated that "the President of the Republic received the Governor of the Central Bank, Ali Al-Alaq, at the Baghdad Palace to discuss the state of the Iraqi banking sector and the measures to develop it, as well as the reform packages being undertaken by the Central Bank to address economic changes and their impact on the local market."

The President of the Republic stressed "the need to exert efforts and develop a sound future strategy for fiscal policy that will enhance the desired economic development."

He pointed out that "the meeting discussed plans to stimulate the investment sector by supporting the private sector, especially as the country is witnessing remarkable stability on the security, political, and social levels."

In turn, Al-Alaq reviewed the Central Bank's efforts and future plans aimed at strengthening fiscal policy and economic stability in the country  link

Tishwash:  After failing to hold sessions, Parliament announces the end of its legislative session.

The House of Representatives announced on Tuesday evening, May 6, 2025, the end of its legislative session, following the failure to convene sessions for two months.

 The Parliament's media department said in a statement received by Al-Jabal, a copy of which said, "Based on Article (57) of the Constitution of the Republic of Iraq - and Article (22) of the internal regulations of the Council of Representatives, the Council Presidency decided to end the first legislative session of the fourth legislative year - the fifth electoral cycle, on Friday, May 9, 2025."

 The House of Representatives was scheduled to hold its seventh session of its current legislative term on Monday, May 5, 2025. Another session was also scheduled for Tuesday. However, the House of Representatives failed to convene both sessions, and both times, the session was adjourned due to a lack of quorum.

The Iraqi Parliament failed to hold its regular sessions, having failed to hold its scheduled session on Tuesday, May 6, 2025. Parliamentarians asserted that political leaders were deliberately disrupting the sessions, some of whom disclosed the reasons for this. Calls are mounting for the dismissal of MPs who fail to attend.

Mohsen Al-Mandalawi, First Deputy Speaker of Parliament, announced earlier today that he had "directed the media and parliamentary departments to publish the names of the parliament members who were absent from today's session and to deduct the prescribed financial percentage from their salaries."

Meanwhile, the House of Representatives announced the names of the members present at its failed seventh session, held on Tuesday, May 6, 2025, following the renewed failure to hold it.  link

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

Mot:  The RV Box -- and Why it Wont Move!!

https://www.youtube.com/watch?v=aqAUmgE3WyM

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Iraq Economic News And Points To Ponder Tuesday Afternoon 5-6-25

Saleh Ends The Controversy: The 2025 Budget Will Remain Close To 156 Trillion Dinars, With Domestic Borrowing.

Time: 2025/05/06 Read: 2,100 times  {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, announced that Iraq's 2025 budget will remain close to 156 trillion dinars or less, with domestic borrowing continuing at the same level as in 2024.

Saleh explained, in a statement to {Euphrates News}, that: “The average oil price in the first quarter of 2025 reached about $75 per barrel before the impact of the oil asset cycle began to drop prices to $63.

Saleh Ends The Controversy: The 2025 Budget Will Remain Close To 156 Trillion Dinars, With Domestic Borrowing.

Time: 2025/05/06 Read: 2,100 times  {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, announced that Iraq's 2025 budget will remain close to 156 trillion dinars or less, with domestic borrowing continuing at the same level as in 2024.

Saleh explained, in a statement to {Euphrates News}, that: “The average oil price in the first quarter of 2025 reached about $75 per barrel before the impact of the oil asset cycle began to drop prices to $63.

This decline in prices coincided with the cancellation of OPEC+ quotas, in addition to the impact of the US trade war and a temporary contraction in the global economy.”

With the decline in oil prices, Saleh expected that “the relative increase in exported oil quantities will compensate for this decline,” stressing that “operating expenses will be subject to greater control within a flexible financial space, which will provide greater opportunities to manage financial resources prepared for spending.”

Saleh praised “the accelerating success in the field of fiscal and monetary policy,” explaining that “the government seeks to achieve economic stability in both its financial and monetary aspects.”

The advisor concluded by saying that “with this coordination, high guarantees are provided to achieve sustainable economic development, as the world is witnessing rapid progress in Iraq’s economic stability.”   LINK

The United Nations And 18 Countries Meet With The Iraqi Banking Sector To Discuss Banking Relations At The Headquarters Of The Association Of Private Banks.

Part of the meeting  Banks   Economy News – Baghdad   Under the auspices of the United Nations Assistance Mission for Iraq (UNAMI), the Iraqi Private Banks Association organized a meeting that included Arab and foreign ambassadors, representatives of international organizations operating in Iraq, and Iraqi banks, with the attendance of the Central Bank of Iraq.

The meeting was attended by the Special Representative of the Secretary-General of the United Nations for Iraq and Head of UNAMI, Mohammed Al-Hassan; the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad; the Regional Director of the World Bank, Jean-Christophe Carré; the Head of the European Union Delegation to Iraq, Thomas Seiler; and the Representative of the United Nations Office on Drugs and Crime, Ali Al-Barir; in addition to the ambassadors of the United Kingdom, Germany, France, Japan, Switzerland, Hungary, the Netherlands, Italy, Greece, Denmark, the Czech Republic, the United States, Saudi Arabia, the Sultanate of Oman, Qatar, Kuwait, and the United Arab Emirates.

In his speech, Al-Hassan emphasized that the meeting precedes the "Arab wedding" represented by the upcoming Arab Summit, and represents the beginning of strengthening communication between the Iraqi banking sector and the international community.

He noted that no country's economy can thrive without a strong banking sector. He also expressed his gratitude to the Iraqi Private Banks Association for organizing the meeting, appreciating the ambassadors' positive interaction.

For his part, Wadih Al-Handhal, Chairman of the Iraqi Private Banks Association, explained that the meeting comes at a crucial moment in Iraq's financial and economic transformation.

It aims to strengthen the banking sector's relations with international and diplomatic partners, creating an integrated banking environment based on transparency and compliance with international standards, capable of supporting sustainable development, stimulating investment, and serving those underserved by banking services.

Al-Handhal added, "We believe that building bridges of trust with the international community begins with constructive dialogue and mutual cooperation. From this perspective, the Iraqi banking sector continues its solid partnerships with your prestigious financial institutions, seeking to open broader horizons for investment and enhance stability and shared prosperity."

He also expressed his sincere thanks and appreciation to Dr. Mohammed Al-Hassan for his significant efforts in mobilizing international support to enhance stability within Iraq, support reform processes, and consolidate the principles of human rights and good governance.

Al-Handhal explained that Iraqi banks look forward to direct dialogue with your countries' banks, under the auspices of the United Nations, to open new partnerships that serve the Iraqi and your economies. This can be achieved by expanding correspondent accounts, financing development projects, promoting digital transformation, issuing green bonds, and attracting promising investments to deepen sustainable stability.

Ali Tariq, Executive Director of the Iraqi Private Banks Association, presented a review of banking developments in the country, explaining that deposits reached 120 trillion dinars, while credit reached 73 trillion dinars. Electronic payments also increased from approximately $1 billion annually to approximately $17 billion by 2024.  https://economy-news.net/content.php?id=55194

Head Of The Economists Alliance: The Challenges Facing The Iraqi Economy Are Great...And These Are The Most Important Ones

Tuesday, May 6, 2025 | Economic Number of readings: 87  Baghdad/ NINA / Head of the Iraqi Economic Alliance (Economists), Adi Sadiq Al-Alawi, stressed that his alliance aims to promote sustainable development by activating dialogue between the public and private sectors, providing economic advice to government agencies, and supporting policies that diversify sources of income and reduce dependence on oil.

Al-Alawi told the National Iraqi News Agency ( NINA ) that the Iraqi economy is witnessing gradual improvement today, especially in the agriculture and communications sectors, but the challenges are great. Progress is slow due to fragile infrastructure, administrative corruption, and unstable legislative policies.

He added, "We see positives in the increase in foreign investment, despite our lack of conviction in the fairness of the opportunities provided, and the government's move towards supporting the private sector, despite its scarcity, and regional interconnection projects that may stimulate trade."

He indicated, "Real growth requires restructuring the banking system, implementing investment-attractive legislation, and a greater focus on the knowledge economy."

Al-Alawi pointed out, "Iraqi economists suffer from weak opportunities to implement their research on the ground and a lack of support for innovation, in addition to the migration of talent due to job instability.

He continued, "We seek to address these issues by pushing for the adoption of a competition protection law, establishing a fund to support entrepreneurial projects, and launching scholarships for scholarships in modern economic specializations."

Regarding the establishment of the "Economists" coalition, he explained that it was established in 2018 as a comprehensive platform For Economic Competencies, it was officially registered in 2021 as the first official economic party in Iraq.

 Today, it includes more than 6,000 members and affiliates of economic experts, businessmen and women, academics, and specialists in the fields of finance, trade, industry, renewable energy, and the digital economy. / https://ninanews.com/Website/News/Details?Key=1225155

 

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

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 5-6-25

Good Evening Dinar Recaps,

US TREASURY REPORT ON STABLECOINS MULLS UPSIDE OF OFFERING INTEREST

A presentation last week to the US Treasury’s Borrowing Advisory Committee (TBAC) explored the impact of stablecoins on the demand for short term Treasuries.  One topic was mentioned repeatedly – the potential for stablecoins to offer interest.  

The last iteration of the Senate’s stablecoin bill, the GENIUS Act, introduced a clause that banned the payment of stablecoin interest before receiving a positive vote by the Senate Banking Committee.

Good Evening Dinar Recaps,

US TREASURY REPORT ON STABLECOINS MULLS UPSIDE OF OFFERING INTEREST

A presentation last week to the US Treasury’s Borrowing Advisory Committee (TBAC) explored the impact of stablecoins on the demand for short term Treasuries.  One topic was mentioned repeatedly – the potential for stablecoins to offer interest.  

The last iteration of the Senate’s stablecoin bill, the GENIUS Act, introduced a clause that banned the payment of stablecoin interest before receiving a positive vote by the Senate Banking Committee.

According to the minutes of the TBAC meeting“There was robust discussion concerning the potential implications of interest bearing stablecoins versus non-interest bearing stablecoins, and the extent to which growth in stablecoins would result in net new demand for Treasury securities rather than a reallocation of demand from banks and money market mutual funds.”

The President’s Executive Order on digital assets made clear the intention to promote the use of US dollar stablecoins beyond US borders.  White House AI and crypto czar David Sacks was very clear that the goal is to increase demand for US Treasuries,
which helps to lower the cost of servicing the United States’ massive debt.

The TBAC stablecoin report

The TBAC report used a figure from Standard Chartered research that estimates stablecoins will grow to $2 trillion by 2028 assuming stablecoins don’t pay interest.  As an aside, Citi also recently published forecasts.  The mid-April capitalization of stablecoins was $234 billion, which accounts for approximately $120 billion investment in short-dated Treasuries.  Combining that with Standard Chartered’s figure, the report estimates that stablecoin investment in Treasuries will expand to $1 trillion by 2028.

If stablecoins were to offer interest, the figure could be quite a bit higher, although no forecast was provided.  That would account for a significant slice of the short term Treasury Bill market, which currently has a $6.4 trillion issuance.

A key reason why most global stablecoin regulation has not supported the payment of interest is due to concerns that bank deposits might shift to stablecoins,  potentially reducing available credit from banks or making credit more expensive.  The TBAC report states that transactional demand deposits at banks totaling $6.6 trillion are most “at risk” from stablecoins.

However, the presentation also explored opportunities for banks and financial institutions, including issuing stablecoins and managing reserves.

Apart from delving into interest-bearing stablecoins, two other issues were floated:

  • Allowing stablecoin issuers access to the Federal Reserve

  • Allowing access to deposit insurance

This would help reduce the impact of de-peg events.

Readers of the TBAC report might expect to see efforts to remove the interest ban from the GENIUS Act.  However, after this TBAC meeting, several pro-crypto Democrats withdrew support for the latest version of the GENIUS Act despite it still including the yield ban.
Backtracking on the yield clause could further delay the progress of the stablecoin bill.

@ Newshounds News™
Source:  
Ledger Insights

~~~~~~~~~

BREAKING: NEW HAMPSHIRE BECOMES FIRST U.S. STATE TO OFFICIALLY HOLD BITCOIN IN STATE RESERVES

In a major first for the United StatesNew Hampshire has passed a new law allowing the state to hold Bitcoin as part of its financial reserves. The bill, known as HB 302, was signed into law on May 6, 2025, by the state’s Governor. This makes New Hampshire the first state in the nation to create a Strategic Bitcoin Reserve Fund.

The law gives the state’s Treasurer the power to buy Bitcoin and other major digital assets directly or through a regulated investment product like an exchange-traded product (ETP). However, there’s a limit — the state can only hold up to 5% of its total funds in Bitcoin to balance risk.

To ensure safety, the law requires all digital assets to be stored under strict U.S.-regulated custody, either in state-controlled wallets or with approved custodians. The new policy will officially take effect 60 days after its signing.

The bill was inspired by a model created by the nonprofit group Satoshi Action, which works to educate lawmakers about Bitcoin and digital assets. Dennis Porter, the group’s CEO, said this is more than just a bill — it’s the start of a movement“New Hampshire didn’t just pass a bill; it sparked a movement, Porter said.

Several important figures helped make this happen, including Rep. Keith Ammon, an early Bitcoin supporter, Majority Leader Jason Osborne, and the New Hampshire Blockchain Council.

This landmark decision could open the door for other U.S. states to follow New Hampshire’s lead as interest in Bitcoin-backed financial reserves grows nationwide

@ Newshounds News™
Source:  
Coinpedia

~~~~~~~~~

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Did Buffett Just Admit the Dollar is Doomed? What Comes Next?

Did Buffett Just Admit the Dollar is Doomed? What Comes Next?

Kitco News: 5-5-2025

Warren Buffett’s recent warning about the U.S. dollar “going to hell” has sparked widespread debate about the future of the global financial system.

But while Buffett remains famously averse to Bitcoin and gold, Jack Mallers, CEO of Strike and Twenty One Capital, argues that the Oracle of Omaha’s pessimistic outlook actually validates the need for a decentralized alternative like Bitcoin.

In a recent interview with Kitco News, Mallers asserted that Buffett’s admission signals the end of the post-World War II dollar regime, a system he believes is structurally flawed and nearing its breaking point.

Did Buffett Just Admit the Dollar is Doomed? What Comes Next?

Kitco News: 5-5-2025

Warren Buffett’s recent warning about the U.S. dollar “going to hell” has sparked widespread debate about the future of the global financial system.

But while Buffett remains famously averse to Bitcoin and gold, Jack Mallers, CEO of Strike and Twenty One Capital, argues that the Oracle of Omaha’s pessimistic outlook actually validates the need for a decentralized alternative like Bitcoin.

In a recent interview with Kitco News, Mallers asserted that Buffett’s admission signals the end of the post-World War II dollar regime, a system he believes is structurally flawed and nearing its breaking point.

Mallers, whose company Twenty One Capital is building a “pure-play Bitcoin operating company” with significant backing from Tether and SoftBank, outlined a compelling case for Bitcoin as the solution to the dollar’s inherent problems.

Buffett’s statement, “No system beats currency debasement,” has resonated with investors concerned about inflation and the long-term value of the dollar. However, his refusal to embrace Bitcoin or gold leaves a void in his proposed solution.

Mallers argues that despite gold’s historical role as a safe haven, it ultimately “failed” to solve the reserve problem. He posits that Bitcoin, on the other hand, offers a superior alternative due to its verifiable scarcity, decentralized nature, and programmable properties. He goes even further, claiming Bitcoin is the “most American money ever invented.”

Mallers’ commitment to Bitcoin is evidenced by Twenty One Capital’s ambitious project to build a Bitcoin-focused operating company with over 42,000 BTC. The company is focused on generating Bitcoin-native cash flow, demonstrating a belief in Bitcoin’s long-term economic viability.

Central to Mallers’ argument is the idea that the bond market is “breaking” and the Federal Reserve’s influence is waning. He claims the U.S. is “structurally short” on belief, the very foundation holding the current system together.

Mallers highlights the “hidden bailout of U.S. debt,” orchestrated by Scott Bessent and the Treasury, suggesting a more profound instability than is publicly acknowledged. He points to the rise of “Bitcoin-per-share (BPS)” and “Bitcoin Return Rate (BURR)” as new metrics for evaluating investments, reflecting a growing acceptance of Bitcoin as a legitimate asset class.

He further delves into the complexities of the global economic landscape, citing Trump’s tariff shock and the subsequent sovereign accumulation of gold and cryptocurrency as evidence of a global pivot towards alternative reserves. He identifies a “quiet basis trade crisis” and the U.S.’s reliance on hedge fund leverage as additional vulnerabilities within the existing financial infrastructure.

Mallers proposes a radical yet compelling solution: a U.S. Strategic Bitcoin Reserve. He believes that by embracing Bitcoin, the United States could not only secure its financial future but also solidify its position as a leader in the emerging digital economy.

Ultimately, Mallers’ argument rests on the assertion that a global capital reset is already underway, driving Bitcoin adoption as nations and individuals seek alternatives to a weakening dollar. While Buffett’s hesitancy towards Bitcoin remains, the underlying concerns he raised about the dollar’s future lend significant weight to the growing movement advocating for its adoption. Whether Bitcoin can truly become the solution to the problems plaguing the global financial system remains to be seen, but Mallers’ vision offers a provocative glimpse into a future where digital scarcity reigns supreme.

https://youtu.be/W1mu1OMFIY0

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 5-6-25

Good Afternoon Dinar Recaps,

DEEP FREEZE EMPOWERS XRPL COMPLIANCE WITH INSTITUTIONAL TOKEN CONTROL

▪️Deep Freeze enhances institutional control over issued tokens on XRPL for compliance and fraud prevention.
▪️It introduces a protocol-level freezerestricting all outgoing token transactions from targeted accounts.
▪️The update is crucial for stablecoin issuers and institutions issuing tokenized real-world assets.

Good Afternoon Dinar Recaps,

DEEP FREEZE EMPOWERS XRPL COMPLIANCE WITH INSTITUTIONAL TOKEN CONTROL

▪️Deep Freeze enhances institutional control over issued tokens on XRPL for compliance and fraud prevention.
▪️It introduces a protocol-level freezerestricting all outgoing token transactions from targeted accounts.
▪️The update is crucial for stablecoin issuers and institutions issuing tokenized real-world assets.

The XRP Ledger (XRPL) has formally activated Deep Freezea new tool designed to push the compliance and security standards for tokens issued on the blockchain to the next level.

Although XRP itself does not change, Deep Freeze provides protocol-level granularity in terms of controlling issued assets, allowing issuers to directly impose constraints on accounts.

The amendment, designated as XLS-77d, represents a significant move towards supporting institutional-quality asset management found in traditional finance.

Deep Freeze places XRPL in a strong position as a viable alternative for stablecoin issuers and financial institutions for secure and compliant infrastructure, says fintech analyst Clara Renner.

The amendment was voted into implementation using XRPL’s decentralized governance mechanism, showcasing the adaptability of the network to real-world security and regulation requirements.

Institutional Adoption Grows With XRPL Upgrade

Earlier, issuers in the XRPL utilized trustline freezes that only inhibited new transactions.
It was not a perfect approachas users could still send held assets, and freezes had to be applied individually.

Deep Freeze immobilizes an entire account’s capacity to move released assets, effectively halting all outgoing token transactions.
This is critical for legal holds, fraud prevention, or sanctions enforcement.

Unlike centralized blockchains, XRPL’s approach preserves visibility and decentralized integritya dual advantage for transparency and control.
Deep Freeze automates compliance processes for institutions handling bulk token issuance.

This has become especially relevant for entities like Ripple, Braza Bank, and Societe Generale Forgewhich use XRPL to issue stablecoins.

New XRPL Feature Appeals to Institutions

Deep Freeze is not just a technical improvementit's a strategic enhancement for XRPL’s institutional appeal.

Central banks and asset managers can now enforce regulatory mandates without needing third-party intervention.

As compliance becomes a top priorityfeatures like Deep Freeze should accelerate adoption by major stablecoin issuers like Circle.

It aligns with global compliance standards while maintaining blockchain efficiency.
The feature is now live and availabledemonstrating XRPL’s commitment to a compliance-ready blockchain ecosystem.

@ Newshounds News™
Source:  
TronWeekly

~~~~~~~~~

BRICS: INDIA AGREES TO DROP TARIFFS ON THE US

According to US President Donald Trump, BRICS member India has agreed to drop its tariffs on the US. It was reported on Monday that India offered the Trump administration a zero-for-zero tradeoff for tariffs on auto parts, steel, and pharmaceuticals.

Speaking at the Oval Office todayTrump credited himself as the reason behind India agreeing to eliminate tariffs on US goods. They’ve already agreed. They would have never done that for anybody else but me,” Trump said in a media scrum.

The two countries are engaged in ongoing talks of a new trade deal following the United States’ imposition of 10% sweeping trade tariffs on all countries. US President Donald Trump introduced the plan in an effort to balance trade, with the focus being on new agreements that would fulfill this charge.

Representation from India has not confirmed Trump’s claim that they’ve agreed to slash all tariffs on US goods. The two countries remain in talks, according to Trump. Also on Tuesday, India and the United Kingdom came to terms on a new free trade agreement.

Indeed, the deal had been reached after three years of negotiations. The deal will reportedly make it much easier for the UK-based company to export various goods, including automobiles. Moreover, it will cut taxes placed on India’s clothing exports, the BBC reported.

Furthermore, Trump says that the US is open for business” for deals with several countries on tariff talks. However, one country not included is India’s BRICS partner, China. China and the US remain in heated discussion over tariffs between both countries, including an over 140% tariff on the Asian country. Trump said today that his administration could sign 25 deals right now” on trade, although none have been finalized by both sides yet, including India.

@ Newshounds News™
Source:  
Watcher Guru

~~~~~~~~~

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Newshound's News Telegram Room Link

Follow the Roadmap

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Iraq Economic News And Points To Ponder Tuesday Morning 5-6-25

Al-Sudani Confirms The Continuation Of The Banking Reform Process And Directs Bank Administrations To Simplify Procedures.
 
Monday, May 5, 2025 | Economic   Number of readings: 243  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani  affirmed the continuation of the banking reform process, while

directing bank administrations to simplify procedures and encourage citizens to deposit. His media office said in a statement, "Prime Minister Mohammed Shia al-Sudani chaired a meeting today with the chairmen of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms for the economic sector were discussed."

Al-Sudani Confirms The Continuation Of The Banking Reform Process And Directs Bank Administrations To Simplify Procedures.
 
Monday, May 5, 2025 | Economic   Number of readings: 243  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani  affirmed the continuation of the banking reform process, while

directing bank administrations to simplify procedures and encourage citizens to deposit. His media office said in a statement, "Prime Minister Mohammed Shia al-Sudani chaired a meeting today with the chairmen of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms for the economic sector were discussed."

Al-Sudani emphasized that "all government sectors are linked to an efficient and flexible banking system that relies on modern technology," noting that
 
"the government has adopted comprehensive plans for banking reform and contracted with private financial auditing firms, covering all banks, and has made significant progress in implementation." He explained that
 
"the work of the First Rafidain Bank will be launched with a new look and vision, in partnership with specialized and well-known banks," noting that
 
"a clear roadmap has been formulated to address the situation of the private banking sector, as a partner in development,
 
emphasizing the need for cooperation during the next phase to take effective steps towards reforming the economy."

He pointed out that "the state should refrain from detailed intervention in sectors and assume a regulatory role," indicating that efforts are being made to "engage the private sector and foreign companies   in all major projects, as well as   support local productive sectors, and  absorb the imported cash flow into providing domestic goods and services to citizens as an alternative to imports, ensuring support for local investment."
 
The Prime Minister directed banks to 
      "simplify procedures,
     participate broadly in the development process,
     participate as investors in all available opportunities,
     move toward partnerships with foreign companies, and
     work to build trust with citizens,
 
which will help ensure they have peace of mind about depositing their money in banks."
 
For their part, the heads of the Iraqi banks' boards, according to the statement,
"thanked the government for its support to the banks and its assistance in resolving their problems," and emphasized the rise in credit and financial dependency indicators.

They pointed out that  “the trading through electronic payment increased from (1.7) trillion dinars in 2020, to reach (21) trillion dinars in 2024,”
 
stressing 
 
     the readiness “to localize the salaries of private sector workers, and
     their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as
 
it will be a comprehensive solution to most of the problems that the banking sector suffers from.” /End 8    https://ninanews.com/Website/News/Details?key=1224874  

Rafidain Regarding Depositors' Funds: Fully Insured
 
Economy   2025-05-05 | 1,133 views   Alsumaria News – Economic  confirmed Rafidain Bank on Monday that its financial position is excellent and that it is committed to fully covering expenses.
 
While noting that the amounts withdrawn by the bank were from its sovereign accounts,
 
it emphasized that all depositors' funds are fully insured.
 
The Director of the Payments and Reciprocal Accounts Department at the bank, Ahmed Thamer Al-Ghariri, told the official agency, followed by Sumaria News , that
 
"Rafidain Bank has not yet recorded any cases of failure to fulfill financial obligations," indicating that 
"things are proceeding properly." 

He added,  "The bank's financial position is excellent," noting the bank's "full commitment to covering customers' expenses and obligations without any obstacles." 

He stressed that  "the sums withdrawn by the Ministry of Finance are from its own sovereign accounts and have no relation to citizens' deposits," noting that
 
"more than 80% of government department accounts are deposited in Rafidain Bank,
which is naturally subject to the policies of the Ministry of Finance,
 
which can use these funds to serve the state's financial policy,
leading to a natural increase or decrease in the bank's balance." 

He pointed out that  "all depositors' funds,  which number more than seven million customers,  are fully insured,  whether in reserves or other balances," explaining that "the bank is fully committed to its customers with all current and future banking products."      
https://www.alsumaria.tv/news/economy/525111/الرافدين-بشأن-أموال-المودعين-مؤمنة-بالكامل 

Chestertons Global Enters Iraq With Baghdad Office
 
Business   Iraq   IraqiNews   May 2, 2025  1364   Baghdad (IraqiNews.com) – In line with its strategic expansion across the Middle East, UK’s Chestertons Global has announced the opening of a new office in BaghdadIraq.
 
This marks a significant milestone as the international property brokerage continues to strengthen its presence in the Middle East.
 
The Baghdad office will offer a full suite of property services, including
 
     residential and commercial sales and rentals,
     investment advisory,
     valuations, and
     market research.
 
Chestertons Global’s entry into Iraq is a timely move, as the country’s real estate sector continues its rapid development.

Valued at $1.12 billion in 2024, Iraq’s property market  ranks among the largest in the Arab world and is expected to grow at an annual rate of 6%.
 
With over 100 offices across 21 countries, the addition of Iraq strengthens Chestertons Global’s international network and significantly enhances its capacity to serve clients in
one of the region’s most promising markets.    
  
https://www.iraqinews.com/iraq/chestertons-global-enters-iraq-with-baghdad-office/  

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

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-6-25

Good Morning Dinar Recaps,

THUNE SIGNALS GOP WILLING TO COMPROMISE ON STABLECOIN BILL AS SENATE VOTE NEARS

Senate Republicans back off fast-track push as Thune opens door to Democratic demands ahead of GENIUS Act floor vote.

▪️ Senate Majority Leader John Thune signaled openness to Democratic amendments on the GENIUS Act ahead of a key floor vote.

▪️ The move comes after nine Senate Democrats issued a joint statement opposing the bill without stronger safeguards.

▪️ Republicans need at least seven Democratic votes to advance the legislation, which would create a federal framework for stablecoins.

Good Morning Dinar Recaps,

THUNE SIGNALS GOP WILLING TO COMPROMISE ON STABLECOIN BILL AS SENATE VOTE NEARS

Senate Republicans back off fast-track push as Thune opens door to Democratic demands ahead of GENIUS Act floor vote.

▪️ Senate Majority Leader John Thune signaled openness to Democratic amendments on the GENIUS Act ahead of a key floor vote.

▪️ The move comes after nine Senate Democrats issued a joint statement opposing the bill without stronger safeguards.

▪️ Republicans need at least seven Democratic votes to advance the legislation, which would create a federal framework for stablecoins.

Senate Majority Leader John Thune (R-SD) has acknowledged that Republicans would need to seek a more open stance with Democrats if the party hopes to advance the U.S.’s first comprehensive federal regulatory framework for dollar-pegged digital assets.

With a full floor vote looming on the GENIUS Act before Congress' August recess, pressure for a compromise is mounting as partisan tensions surrounding the landmark legislation threaten to boil over.

"Changes can be made on the floor for sure," Thune said, speaking to reporters from Congress on Monday, as first quoted by Politico. Thune said he’s "waiting to see what it is [Democrats] are asking for."

Thune's gesture shows the GOP is dialing back and slowing down from Sunday, when he initiated expedited procedures to advance the bill.

Republican leaders had hoped to hold a vote as early as Thursday this week.

But those plans hit a roadblock after nine Senate Democrats, including four previously open to the bill in committee, released an opposing statement a day before it was expedited.

The Democrats cited the need to add "stronger provisions" on key issues, including anti-money laundering, foreign issuers, national security, financial safety, and accountability.

Despite holding 53 Senate seats, the Republican caucus needs to secure at least seven Democratic votes to overcome the last hurdles for passage.

What's at stake?

The GENIUS Act allows nonbank stablecoin issuers to operate in the U.S. economy, providing key protections for consumers using the technology for daily needs.

stablecoin is a digital currency designed to maintain a consistent value by pegging it to a fixed asset like the U.S. dollarStablecoins, unlike Bitcoin, offer predictability for daily transactions by backing their value with cash or other stable assets.

With it, banks and non-bank institutions could issue stablecoins if they hold 1:1 reserves in high-quality liquid assets. House lawmakers, meanwhile, have proposed more restrictive reserve requirements in their competing STABLE Act.

If signed into law, the bill would address a regulatory gap that has persisted for years as stablecoins grew to over $240 billion in market capitalization, data from CoinGecko shows.

@ Newshounds News™
Source:  
Decrypt

~~~~~~~~~

BITWISE CIO WARNS OF CHALLENGING SUMMER FOR CRYPTO IF CONGRESS 'FUMBLES THE BALL' ON LEGISLATION

▪️Bitwise CIO Matt Hougan has warned of a mounting risk for crypto in Washington D.C., leading to a challenging summer for the industry if legislative efforts are derailed.

▪️However, Hougan remains optimistic that most crypto assets can trade to new all-time highs this year if Congress can get stablecoin and market structure bills passed.

Bitwise Chief Investment Officer Matt Hougan said he is increasingly concerned that the U.S. Congress will "fumble the ball at the one-yard line" on crypto regulation, warning that the industry is in for a difficult summer if legislative efforts fizzle out.

Hougan remains optimistic about the outlook for crypto this year, with a base case for most digital assets to reach all-time highs and bitcoin to rise above $200,000. However, despite the seemingly positive backdrop under the Trump administration, "crypto can still be derailed by politicians", he said.

Crypto rallied after the U.S. presidential election in November, partly on the assumption that Washington would take a more positive stance toward crypto. 

The first 100 days of Trump's tenure have seen the creation of a Bitcoin Strategic Reserve, digital assets named a "national priority," the SEC reversing crypto-related lawsuits and accounting rules and the end of Operation Choke Point 2.0However, these initiatives have all stemmed from the White House, meaning they could easily be reversed by future administrations, Hougan warned in a note to clients late Monday.

"To move crypto forward, we need Congress to pass legislation enshrining crypto's progress in law," he said. "Congress passing at least one crypto bill would show that Democrats and Republicans can align on crypto and make it more difficult for future regimes to undo progress."

The stablecoin bill debacle

Hougan had expected stablecoin legislation to rapidly pass this year, broadening crypto's access to the traditional market, creating a new profit center for Wall Street and providing a huge buyer of U.S. debt as a tool to extend dollar dominance globally. A "win, win, win," he said.

In mid-March, this seemed to be on track as the Senate Banking Committee voted 18 to 6 to pass a stablecoin bill, called the GENIUS Act, out of committee, Hougan noted. In that vote, five Democrats on the committee broke ranks to support the bill, with Senate Minority Leader Chuck Schumer also backing it.

The bill would require stablecoins to have 100% reserve backing with U.S. dollars and short-term treasuries (or other similarly liquid assets), monthly public disclosure of reserves and annual audits for issuers with more than $50 billion in market capitalizationThe bill also lays out strict marketing standards, guidelines on insolvency proceedings and other provisions.

However, over the weekend, nine Democrats, including four of the five who backed the bill in committee and Schumer himself, pulled their support, just days before the bill was set to hit the floor of the Senate. The Democrats argued that the bill needs stronger provisions on national security and anti-money laundering policy.

The bill requires 60 votes to pass in the Senate; with Republicans controlling only 53 seats, a bipartisan deal is a must. "We have a choice here," Republican Senator Bill Hagerty, one of the authors of the bill, wrote in response. 

"Move forward and make any remaining changes needed in a bipartisan way, or show that digital asset and crypto legislation remains a solely Republican issue."

"The change in tune reflects the shifting political environment in Washington," Hougan said. 

"The amended version of the bill is actually stronger on AML/KYC and other items than the version that passed out of the Banking Committee, suggesting the Democratic about-face has more to do with President Trump's slumping approval rating and rising chatter over his crypto-related conflicts of interest than any substantive concern."

Hougan also argued that lobbying efforts from the crypto industry to combine stablecoin legislation with broader market structure legislation are not helping. "This is the perfect becoming the enemy of the good," he said. "Market structure legislation is extremely important to crypto's long-term future, but lumping things together will make the passage of any bill more difficult."

What's next?

Beyond the GENIUS Act uncertainty, House Democrats are reportedly planning to walk out of a joint congressional hearing on crypto market structure legislation scheduled for Tuesday as pressure mounts over concerns about President Donald Trump's forays into digital assets.

Another stablecoin bill, known as the STABLE Act, has been advancing in the House. World Liberty Financial, a DeFi project backed by Trump, also recently launched its own stablecoin.

While the future of the GENIUS Act has been thrown into question in its current form, and political jockeying threatens to undermine progress on other crypto-related legislation, Hougan still expects the stablecoin bill to ultimately pass.

"Stablecoins are too obviously beneficial — to America, the dollar, merchants, entrepreneurs, and others — for petty political jockeying to derail progress," he said. 

"The next few days and weeks will be fraught. If legislation fizzles, this could be a challenging summer for crypto. But if Washington can get its act together, I think the bull market will be unstoppable."

@ Newshounds News™
Source:  
The Block

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 5-6-2025

TNT:

Tishwash:  Al-Sudani confirms the continuation of banking reform and directs bank managements to simplify procedures..

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks. The meeting discussed mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive economic sector reforms.

Al-Sudani said in a statement received by Al-Eqtisad News that "all sectors of the state are linked to the existence of an effective and flexible banking system that relies on modern technologies." He pointed out that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing companies, which include all banks, and has made great strides in implementation.

TNT:

Tishwash:  Al-Sudani confirms the continuation of banking reform and directs bank managements to simplify procedures..

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks. The meeting discussed mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive economic sector reforms.

Al-Sudani said in a statement received by Al-Eqtisad News that "all sectors of the state are linked to the existence of an effective and flexible banking system that relies on modern technologies." He pointed out that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing companies, which include all banks, and has made great strides in implementation.

 He indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing the need for cooperation during the next phase to take effective steps in reforming the economy. He emphasized the state's distancing from detailed intervention in sectors and adopting the role of a regulator, indicating the need to work on intervening in all mega projects, as well as supporting local productive sectors, and absorbing the imported cash flow in providing domestic goods and services to citizens to be an alternative to imports, and to ensure support for local investment.

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its “support for the banks and its assistance in solving their problems, and they confirmed the rise in credit and financial accreditation indicators.

They also pointed to the rise in trading via electronic payment from (1.7) trillion dinars in 2020, to reach (21) trillion dinars in 2024, and they confirmed the readiness to localize the salaries of private sector workers, and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from.”  link

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

Tishwash:  The National Bank of Iraq: A leadership based on governance and transparency

The National Bank of Iraq affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. It identified what it described as the "most valuable currency" in this vital sector, while pledging to consistently comply with legal and regulatory requirements and international standards. 

In a statement received by Al-Eqtisad News, the bank stated, "The National Bank of Iraq's commitment to the principles of governance and transparency is one of its most prominent factors in the Iraqi banking sector. These principles form the fundamental foundation upon which the bank builds its strong relationships with clients, partners, and various stakeholders, and have contributed to enhancing its credibility in all its financial transactions." 

 He added, "Over the years of its operation in the Iraqi market, the National Bank of Iraq has proven that it is not just a financial institution, but a strategic partner for its clients and a loyal guardian of their savings and financial future." He expressed his belief that "trust is the most valuable currency in this vital sector, and this commitment is an integrated approach to work that is embodied in the finest details of its operations and services, and bears fruit in the form of quality and distinction, thereby strengthening its leading position in the market." 

 He explained that "this commitment is clearly demonstrated by the bank's ongoing efforts to ensure that financial operations are managed in accordance with international best practices, setting strict standards to ensure transparency and accountability in all its transactions." He explained that "clear examples of this approach include the bank's ISO 9001:2015 certification in the areas of customer care services and bank transfer operations, confirming that the bank implements an integrated quality management system, with a focus on providing an exceptional banking experience for its customers, based on efficiency, reliability, and attention to the smallest details." 

 He explained that "the bank's commitment to quality and continuous improvement did not come out of nowhere, but rather is the result of a strategic vision that places the customer at the heart of its concerns. Implementing ISO 9001:2015 standards has had a positive impact on the smoothness of internal operations, contributed to raising efficiency and effectiveness, reducing errors, and lowering operating costs. Most importantly, it has strengthened the bank's ability to comply with legal and regulatory requirements, and opened up broader horizons for cooperation and partnership with global financial institutions, benefiting from international recognition of its quality and reliability."

 He continued, "In the context of this relentless pursuit of excellence, the bank's efforts culminated in receiving the 'Excellence Award' from Citi Bank, in recognition of its superior performance in managing incoming and outgoing financial transfers. This clearly reflects its proficiency in implementing precise and organized procedures that ensure full compliance with international standards in the execution of financial transactions." 

He continued, "The National Bank of Iraq's continued focus on the principles of good governance and transparency as an integral part of its long-term strategy is supported by the development of its internal systems and the adoption of the latest technologies in the financial sector to enhance the levels of security, speed, and reliability of its banking services." 

The bank reiterated its "commitment to providing innovative banking services that meet the changing needs of its customers and enhance their confidence by offering integrated financial solutions that support individuals and businesses alike, while adhering to global best practices."

The bank affirmed its "goal to be the first choice for all customers seeking trust, reliability, and excellence in banking services."  link

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

Tishwash:  Rafidain Bank in a new look: Al-Sudani announces a new banking era in Iraq

Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing firms, covering all banks. He also indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

A statement from the Prime Minister's Office, received by Shafaq News Agency, stated that "Al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms of the economic sector were discussed."

Al-Sudani stressed, according to the statement, that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies," noting that "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, covering all banks, and has made great strides in implementation." He indicated that "the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks."

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing "the need for cooperation during the next phase to take effective steps to reform the economy," and affirming "the state's distancing from detailed intervention in sectors and assuming the role of regulator."

Al-Sudani pointed to "working to integrate the private sector and foreign companies in all major projects, as well as supporting local productive sectors and absorbing the imported cash flow into providing domestic goods and services to citizens as an alternative to imports and ensuring support for local investment."

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its support to the banks and its assistance in solving their problems. They confirmed the rise in credit and financial accreditation indicators, and pointed out the rise in trading via electronic payment from (1.7) trillion dinars in 2020 to reach (21) trillion dinars in 2024. They confirmed their readiness to localize the salaries of private sector workers and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from, according to the government statement. link

Mot:  Two priests decided to take a vacation in Hawaii

Two priests decided to take a vacation in Hawaii. Wanting to really relax, they agreed — no collars, no black suits, nothing that would give away they were clergy.

As soon as their plane landed, they hit a local shop and bought the wildest tourist outfits you could imagine — flashy shirts, loud shorts, sandals, sunglasses — the whole package.

The next morning, they hit the beach, dressed head to toe like total tourists. Sitting back in their chairs, sipping drinks, soaking in the sun — life was perfect.

That’s when a stunning blonde in a tiny bikini strolled right past them, smiled sweetly, and said,

“Good morning, Father. Good morning, Father.”

She nodded at each of them and walked away like it was the most normal thing in the world.

The priests were floored. How on earth did she know?

Determined not to be recognized, the next day they went back to the store and bought even crazier outfits — the kind you can hear before you see! Dressed in their new, over-the-top beachwear, they returned to the sand, ready to blend in.

But wouldn’t you know it — the same blonde appeared, this time in an even tinier string bikini. She walked right up to them, flashed a smile, and once again said,

“Good morning, Father. Good morning, Father.”

Finally, one priest couldn’t take it anymore and asked,

“Excuse me, young lady, we are priests — but how in the world did you know?”

She laughed and replied,

“Oh, come on, Father! It’s me — Sister Angela!”

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MilitiaMan & Crew:  Iraqi Dinar Update-Sovereignty-New Banking Era-IMF-World Bank-AI-Global Economy-IQD-Foreign Exchange

MilitiaMan & Crew:  Iraqi Dinar Update-Sovereignty-New Banking Era-IMF-World Bank-AI-Global Economy-IQD-Foreign Exchange

5-5-2025

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

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

MilitiaMan & Crew:  Iraqi Dinar Update-Sovereignty-New Banking Era-IMF-World Bank-AI-Global Economy-IQD-Foreign Exchange

5-5-2025

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

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

https://www.youtube.com/watch?v=3GibjaVyOtk

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Iraq Economic News And Points To Ponder Monday Evening 5-5-25

Minister Of Finance: The Iraqi Economy Is Expected To Achieve 5% Growth In Non-Oil GDP In 2024.
 
Monday, May 5, 2025 13:00 | Economic     Number of readings: 152  Baghdad / NINA / Finance Minister Taif Sami announced on Monday that the  Iraqi economy recorded a 5% growth in non-oil GDP in 2024, while indicating that the budget deficit is low and does not pose a threat to Iraq's public debt.
 
"A high-level government delegation, including Central Bank Governor Ali Al-Alaq, accompanied us, and
discussed the latest economic and financial developments in Iraq with an International Monetary Fund mission during a meeting held in the Jordanian capital, Amman," Sami told the official agency.

Minister Of Finance: The Iraqi Economy Is Expected To Achieve 5% Growth In Non-Oil GDP In 2024.
 
Monday, May 5, 2025 13:00 | Economic     Number of readings: 152  Baghdad / NINA / Finance Minister Taif Sami announced on Monday that the  Iraqi economy recorded a 5% growth in non-oil GDP in 2024, while indicating that the budget deficit is low and does not pose a threat to Iraq's public debt.
 
"A high-level government delegation, including Central Bank Governor Ali Al-Alaq, accompanied us, and
discussed the latest economic and financial developments in Iraq with an International Monetary Fund mission during a meeting held in the Jordanian capital, Amman," Sami told the official agency.

She added that  "the IMF mission found several positive indicators related to the Iraqi economy,
most notably a 5% growth in non-oil GDP in 2024,

driven by growth in the agricultural sector and increased public spending," indicating that  
"expectations indicate continued growth of 4% in 2025."

She added, "The level of oil GDP will remain dependent on OPEC decisions regarding production ceilings and global crude oil prices."
 
Regarding the fiscal deficit, Sami explained that "the deficit reached 5 trillion dinars in 2024, equivalent to 1.5% of GDP, excluding debt repayments and overdue payments for investment and energy projects,"

noting that "this is a low level that does not negatively impact the public debt ratio,
according to International Monetary Fund estimates."

The Minister of Finance stressed the "need to restructure government banks to enable them to absorb government financing instruments and stimulate the market," noting that
 
 "the Ministry of Finance, in cooperation with the International Monetary Fund,
 
     will contract with consulting firms to support the Public Debt Department, in addition to
     appointing new staff with advanced degrees
 
to activate the public debt management and financial analysis system."

She indicated that " the International Monetary Fund expressed its readiness to provide technical and advisory support to Iraq, particularly in the areas of
 
     public debt management,
     tax reform, and
     determining the most appropriate tax systems for the Iraqi social situation,
 
through the Middle East Technical Assistance Center (METAC)," explaining that
 
"the delegation and the International Monetary Fund stressed the importance of
 
     strengthening the relationship with foreign correspondent banks in the field of
     financing foreign trade, as well as
 
     supporting the use of the Iraqi dinar in economic transactions
     to maintain the stability of the local currency."  /End9       https://ninanews.com/Website/News/Details?key=1224836  

Agriculture: Iraqi Crops Have Reached Markets In The Gulf, Jordan, And Europe 

Iraqi agricultural crops - Money and Business  Economy News – Baghdad   The Ministry of Agriculture announced on Sunday that it exported more than 1.5 million tons of surplus agricultural produce last year.  It noted that the use of protected agriculture and modern irrigation contributed to
 
     increased production and the availability of  surplus produce for export.
 
The ministry also confirmed that it
is working to hold several exhibitions and meetings with European embassies
to open markets for Iraqi agricultural products in the European Union.
 
The Undersecretary of the Ministry, Mahdi Sahar Al-Jubouri, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that
 
"the data completed for the export of surplus agricultural commodities during the year 2024 was
 
     estimated at more than 1,500,000 tons,
     led by dates with more than 650,000 tons, then
     vegetable crops with about 308,000 tons, and among these crops were
          potatoes, the first crop, then tomatoes,
          then eggplant, peppers and cucumbers, in addition to several crops such as
          amber rice and jasmine that were exported abroad in quantities." He added,
 
"This surplus was during the 2024 season, and
 
we expect it to exceed this amount and this shift as a result of the
 
     use of protected agriculture for vegetable crops, in addition to the
     use of modern irrigation with fixed sprinklers and drips, and
 
this was reflected in the increase in production of agricultural crops in general." He pointed out that
 
"large quantities of fodder crops were exported,
including clover, alfalfa, and tobacco, after meeting local needs for them,
 
especially with the increase in livestock numbers during the recent period due to the expansion of cultivated areas using the modern irrigation system."

He pointed out that"Iraqi crops are exported extensively to Gulf countriesJordan, and European Union countries,
 
with the ministry working to hold several exhibitions and meetings with European embassies to open markets for Iraqi agricultural goods in the EU." He stressed that
 
"the quantities exported during the first four months of 2025 exceeded 300,000 tons of various agricultural commodities," noting that
 
"the quantity is subject to increase, exceeding 1,500,000 tons,
which will be a major shift in the process of exporting agricultural commodities abroad."
https://economy-news.net/content.php?id=55112  


 From Wasted Fire To Productive Energy... Rashidiya Gas Revives The Taji Station And Saves The Environment.
 
Economy 3-05-2025, Baghdad Today – Baghdad  In the heart of Baghdad, where gas has been burning for decades in the Rashidiya field, turning into smoke that clouds the city's air and is wasted for no good,
 
a new story has begun, written with decades of will and planning.
 
This vital resource has stood witness to the absence of optimal exploitation and to years of neglect and delay.
 
But today the scene has changed.
 
That wasted fire is being transformed into a flowing energy that lights up Iraqi homes and
revives hope in a summer that has long been marked by power outages and the suffering of citizens.

 In the same context, the Middle Oil Company announced today, Saturday (May 3, 2025), in Baghdad, that it had supplied the Taji power station with 17 megawatts of gas, which contributed to the station’s production reaching about 80 megawatts to serve citizens, while indicating that the
 
Minister of Oil, Hayan Abdul Ghani, directed work to
increase the quantities of gas supplied to the power stations, especially with the onset of summer.
 
The company's general manager, Mohammed Yassin, told Baghdad Today,
 
"Gas has been flared in the Rashidiya field in Baghdad since the 1980s.
 
However, the Central Oil Administration, under the direction of Minister Al-Sawad, worked to maintain the equipment and units used for gas compression.
 
Gas was produced to supply the Taji power station with the best types,
which contributed to the production of 80 megawatts per day." 

He stressed that "these efforts have resulted in gas production and environmental protection from its continued flaring," noting
 
"the company's determination to increase gas production from its fields in the governorates."
 
The Rashidiya field is one of the oldest gas fields in the capital, Baghdad, having been operational since the 1980s.
 
Despite its rich gas resources, this resource has been flared for decades without any real investment, causing significant economic losses and accumulated environmental damage.
 
Given the growing need for electricity, especially during the summer,
the importance of harnessing this wasted gas has become clear, particularly at a time when the national electricity system  faces major challenges related to production and distribution.     https://baghdadtoday.news/273439-.html    

 

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

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