Dinar Recaps 20 4/21/25 Dinar Recaps 20 4/21/25

Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era

Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era

Daniela Cambone: 4-21-2025

“It ends with the banks looking like they did at the end of World War II... half of their book was government bonds,” says R. Christopher Whalen, investment banker and author.

In a conversation with Daniela Cambone, he breaks down the systemic risks emerging in the treasury market. “Today the treasury market is basically a carry trade with a lot of hedge funds using 100 to 1 leverage.

That’s the market for treasury debt,” he explains, pointing to the fragility of the current system.

Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era

Daniela Cambone: 4-21-2025

“It ends with the banks looking like they did at the end of World War II... half of their book was government bonds,” says R. Christopher Whalen, investment banker and author.

That’s the market for treasury debt,” he explains, pointing to the fragility of the current system.

Whalen also argues that the Bretton Woods framework has eroded and that the dollar’s dominance is waning.

“This dollar Imperium has run its course.” He believes central banks — including the U.S. Federal Reserve — should diversify their reserves to include gold alongside major currencies like the dollar, euro, and yen.

He views gold as a strategic reserve asset with untapped financial utility. “I hope... the BIS is going to recognize gold as a high-quality liquid asset... it would become eligible to be collateral in swaps,” he says.

Key Topics:

President Trump and Powell were going to cross swords.

The Fed struggles to manage the economy and rates.

Multifamily real estate is the subprime today.

The Fed should be holding gold.

The dollar is attractive because of our marketplace.

National debt has tripled in 15 years.

Chapters:

00:00 Trump and Powell

4:26 US dollar

5:31 Andrew Jackson

7:43 Weaker dollar

8:59 High inflation

9:38 Treasury market

11:44 Banking system

12:27 Financial system reset

14:56 Gold

19:46 Housing market

21:21 National debt

25:58 BRICS

26:58 Concluding words

https://www.youtube.com/watch?v=usb2PgiHF6o

DINARRECAPS8 4/21/25 DINARRECAPS8 4/21/25

Iraq Economic News and Points to Ponder Monday Afternoon 4-21-25

The Deputy Speaker Of Parliament Offers His Condolences To The Vatican And All Christians Around The World On The Passing Of The Holy Father.

Monday, April 21, 2025 | Politics Number of reads: 103 Baghdad / NINA / Deputy Speaker of Parliament Shakhwan Abdullah Ahmed offered his condolences to the Vatican and all Christians in the world on the death of His Holiness Pope Francis.

The Deputy Speaker of Parliament said, according to a statement by his media office: "With great sadness, we received, today, the news of the death of His Holiness Pope Francis."

The Deputy Speaker Of Parliament Offers His Condolences To The Vatican And All Christians Around The World On The Passing Of The Holy Father.

Shakhwan Ahmed offered his deepest condolences and sincere sympathy to the Vatican and to all Christians in the world on this painful occasion, praising his religious and humanitarian career and his great role in promoting dialogue between religions and cultures, asking God Almighty to grant his soul tranquility and eternal rest, and to inspire his loved ones and supporters with patience and solace. /End https://ninanews.com/Website/News/Details?Key=1199178

Iraq Is The Second Most Developed Country In The World For Oil Pipelines.

Energy Economy News – Baghdad Iraq ranks second globally in oil pipeline development, after China, according to a Washington-based US energy agency.

The unit stated in a report that "Iraq ranked second after China among the countries with the most developed oil pipelines by the end of 2024, with a total of 4,010 kilometers."

She added, "Of this total, 1,155 kilometers are currently under construction, while the proposed pipelines are estimated at 2,855 kilometers."

Iraq continues to remove mines obstructing oil and gas pipelines, alongside plans by the Iraqi Ministry of Oil to implement a third offshore pipeline project with a capacity of two million barrels per day. This pipeline aims to export Iraqi crude oil from the Faw reservoirs to the Faw oil port.

The country currently has 15 crude oil pipelines, totaling 2,090 miles, and 10 petroleum product pipelines, totaling 1,530 miles. https://economy-news.net/content.php?id=54659

Rafidain Bank Announces The Third Issuance Of National Investment Bonds.

Time: 2025/04/21 Reading: 120 times In line with the directives of the Ministry of Finance and the Central Bank of Iraq, Rafidain Bank is offering citizens and investors a unique investment opportunity through the third issue of national bonds, which will be offered for subscription from April 20, 2025, until May 20, 2025, in two categories that generate fixed and rewarding returns:

Details of the offered bonds:
1. Investment bond worth (500,000) five hundred thousand dinars
• Annual return: 8%
• Investment period: two years
• Interest payment: every six months
2. Investment bond worth (1,000,000) one million dinars
• Annual return: 10%
• Investment period: four years
• Interest payment: every six months

Why invest with us?
• A guaranteed and fixed return higher than traditional banking returns
• A national investment supported by the state through the Ministry of Finance and the Central Bank
• An ideal opportunity for savers and those looking for a safe investment
• Available to individuals and companies

We invite you to seize this lucrative investment opportunity by visiting the nearest Rafidain Bank branch in Baghdad and the governorates to submit a purchase request and benefit from the benefits of this issuance. LINK

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

Dinar Recaps 20 4/21/25 Dinar Recaps 20 4/21/25

“Tidbits From TNT” Monday 4-21-2025

TNT:

Tishwash: What is the importance of American companies visiting Iraq?

The Federation of Iraqi Chambers of Commerce affirmed on Monday that the visit of American companies is a message to the world that Iraq is a safe environment. It also explained that the visit resulted in an agreement on a regulatory framework for the private sector.

Abdul Razzaq Al-Zuhairi, head of the Federation of Iraqi Chambers of Commerce, said, "The visit of American companies to Iraq to invest and work with Iraqi businessmen is a positive and important step for Iraq."

He explained that "Iraq is a fertile environment, and the visit of American companies to Iraq is a positive message to all countries of the world that Iraq is a safe environment."

TNT:

Tishwash: What is the importance of American companies visiting Iraq?

He explained that "Iraq is a fertile environment, and the visit of American companies to Iraq is a positive message to all countries of the world that Iraq is a safe environment."

He added, "American companies have signed numerous agreements with the Iraqi private sector in the fields of electric power and renewable energy. The most important memorandum is the signing of a regulatory framework between the Iraqi and American private sectors by the American Chamber of Commerce and the Iraqi Chamber of Commerce."

He pointed out that "a number of American companies have signed agreements with the private sector, most notably the global company Google, which is seeking to enter Iraq. Its representative came and wrote a positive message about Iraq, stating that Iraq is safe, which is an important message to the world." link

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Tishwash: Representatives of the Iraqi oil ministry, KRG, and APIKUR meet in Erbil, April 20, 2025.

A trilateral meeting was convened in Erbil on Sunday among representatives of the Iraqi Ministry of Oil, Kurdistan Regional Government (KRG), and the Association of the Petroleum Industry of Kurdistan (APIKUR) to address critical issues concerning the Kurdistan Region's oil sector, with a primary focus on resuming oil exports. Omid Sabah, Chief of Staff of the KRG Council of Ministers, stated that discussions involved the operational activities of oil companies and explored mechanisms to facilitate the restart of exports.

The meeting also considered the challenges and proposals presented by these companies to create a conducive environment for resuming oil exports promptly.

Despite the Iraqi Parliament's approval of amendments to the federal budget law on February 2, 2025, particularly Article 12 concerning the resumption of Kurdistan's oil exports, disagreements between the federal government and the KRG have hindered the implementation of these provisions. The amendments stipulate that the federal Ministry of Finance will compensate the KRG for production and transportation costs of oil delivered to the State Oil Marketing Organization (SOMO). An international technical advisory body, to be appointed jointly by the federal and regional governments, was tasked with determining the fair cost of production and transportation for each oil field within 60 days of the law's enactment. However, this deadline has passed without an agreement, prompting concerns from Iraqi lawmakers.

Adnan al-Jaberi, Deputy Chairman of the Iraqi Parliament's Oil and Gas Committee, emphasized that the 60-day period to select a consulting firm has expired without consensus. He noted that, in the absence of agreement, the federal government reserves the right to unilaterally appoint the advisory body.

Meanwhile, oil production companies operating in the Kurdistan Region have expressed skepticism toward the Iraqi Ministry of Oil. These companies demand the settlement of outstanding payments for past production, advance payments, and future guarantees as prerequisites for resuming export operations.

The halt in oil exports since March 2023, following a ruling by the International Chamber of Commerce in Paris, has significantly impacted the Kurdistan Region's economy, leading to delays in public sector salaries and reductions in essential services. Baghdad is under increasing pressure to resolve these disputes to restore financial stability and economic growth across Iraq.

As negotiations continue, the resumption of oil exports remains contingent upon resolving contractual disagreements, ensuring fair compensation for production and transportation costs, and rebuilding trust between the federal government and oil companies operating in the region.

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

Tishwash: The Central Bank launches the virtual bank project.

The Central Bank of Iraq announces its adoption of a project to launch a virtual bank in Iraqi universities. This is the first virtual bank to be established in an Iraqi university. The first phase will be held at Al-Muthanna University, which hosted a comprehensive exhibition held on the sidelines of the second scientific conference "Artificial Intelligence and Labor Market Requirements."

The conference was organized by the University's College of Administration and Economics, in cooperation with Mansoura University of Egypt, the Central Bank of Iraq, the Muthanna Chamber of Commerce, and the Muthanna Chamber of Industry.

The exhibition included pavilions representing a group of banks and companies, as well as displays of fine art and heritage.

The virtual bank project aims to provide students and graduates with practical experience in banking, preparing them to develop human resources capable of meeting the needs of financial institutions. It also aims to provide students with practical experience by simulating the work of financial institutions and adopting international best practices.

It also aims to encourage financial institutions operating in Iraq to access and expand financial services to all geographical regions of Iraq, with the aim of strengthening financial inclusion plans.

Central Bank of Iraq
Media Office
April 20, 2025 link

Mot: Those Voices in da Head!! -- Always important to Listen to um - Ya Knows!!!

Mot: .... Just uns Perspective Fer Sure!!!

DINARRECAPS8 4/21/25 DINARRECAPS8 4/21/25

Seeds of Wisdom RV and Economic Updates Monday Morning 4-21-25

Good Morning Dinar Recaps,

CARDANO FOUNDER SAYS BUTERIN’S NEW ETHEREUM PROPOSAL ‘MAKES SENSE’

A fleeting exchange on social media has drawn two of the crypto sector’s most prominent protocol architects into unexpected alignment. On Sunday, Cardano creator Charles Hoskinson replied to a technical blog post from Ethereum co‑founder Vitalik Buterin with a terse endorsement: “It makes sense, we are using RISC V with BitVMX. It’s the future.”

Good Morning Dinar Recaps,

Buterin’s Latest Proposal For Ethereum

The comment was triggered by Buterin’s newly published “Long‑term L1 execution layer proposal” on the Ethereum Magicians forum, where he argues that Ethereum should abandon the Ethereum Virtual Machine (EVM) in favour of the open‑source RISC‑V instruction‑set architecture.

In the proposal Buterin calls the idea “equally as ambitious as the beam‑chain effort is for the consensus layer,” contending that a RISC‑V transition would “greatly improve the efficiency of the Ethereum execution layer, resolving one of the primary scaling bottlenecks,” while also simplifying the core codebase. He stresses that the familiar account model and opcodes “would stay exactly the same,” explaining that opcodes such as SLOAD, SSTORE and CALL would be exposed to contracts as RISC‑V syscalls.

“Old‑style EVM contracts will continue to work and will be fully two‑way interoperable with new‑style RISC‑V contracts,” he adds, sketching implementation paths that range from a dual‑VM environment to a more radical interpreter‑based migration.

Buterin’s technical motivation centres on the cost of proving EVM execution inside zero‑knowledge circuits. He points to measurements from Succinct’s ZK‑EVM showing that four tasks—deserialising inputs, initialising the witness database, computing state roots and executing blocks—consume the bulk of prover cycles.

The last of those, block execution, alone accounts for roughly half of total proving time. “Some numbers suggest that in limited cases, this could give efficiency gains over 100 ×,” Buterin writes, suggesting that direct access to a RISC‑V virtual machine could eliminate the overhead of compiling the EVM into RISC‑V for ZK proof generation. He argues that even if pre‑compiles become the new bottleneck, the shift would still produce “very significant” performance wins.

Cardano’s Use Of RISC‑V

Hoskinson’s swift assent carries weight because Cardano has been building around the same architecture. The network’s extended UTxO model is now being paired with BitVMX FORCE, a collaborative effort designed to let Cardano dApps tap into Bitcoin’s liquidity and decentralised‑finance activity.

BitVMX emulates a general‑purpose CPU for Bitcoin using RISC‑V, which in turn lets Cardano’s domain‑specific languages—Plutus and the low‑level Aiken—compile contracts that run seamlessly on either chain. By adopting the same instruction set for its off‑chain circuits,

Cardano hopes to render zero‑knowledge proofs more efficient and to facilitate cross‑chain functionality without resorting to trusted bridges.

RISC‑V’s appeal is two‑fold. As an open specification it avoids licensing constraints while offering implementers freedom to add extensions; at the same time, it’s simple, orthogonal design is friendlier to zero‑knowledge proof systems than the EVM’s eclectic opcode catalogue or Bitcoin’s austere script.

Hoskinson’s “It’s the future” therefore describes not merely Cardano’s roadmap but a growing industry trend, now echoed inside Ethereum’s own research circles.

Whether Ethereum’s highly conservative core‑dev process will embrace Buterin’s proposal remains uncertain. The Beacon‑chain merge, the Cancun/Deneb upgrade and the push toward statelessness already crowd the execution‑layer agenda.

Yet the fact that both a UTXO‑based competitor and the originator of account‑based smart contracts now cite RISC‑V as the optimal long‑term target suggests that the argument will not dissipate quickly. As Buterin concludes, stripping the base layer to “well within” ten thousand lines of code may require “this kind of radical change.”

@ Newshounds News™
Source: Bitcoinist

~~~~~~~~~

SOUTH KOREA'S CENTRAL BANK VOWS TO 'ACTIVELY PARTICIPATE' IN STABLECOIN LEGISLATION DEVELOPMENT

▪️The Bank of Korea said it will actively participate in developing stablecoin regulations to prevent potential risk to monetary and financial stability.

▪️The country is working on the second part of its crypto legislation, which is set to focus on stablecoins and transparency requirements for crypto services.

The Bank of Korea said it will "actively participate" in the country's efforts to build a regulatory framework for stablecoins in order to mitigate potential monetary and financial risks.

"Unlike general virtual assets, stablecoins inherently possess characteristics of a payment measure," the BOK said in a payment systems report on Monday. "If their usage expands, they could … undermine the effectiveness of monetary policies."

The central bank also pointed out that stablecoins could transmit risks from crypto-related crises to the traditional financial market, threatening financial stability and the integrity of payment and settlement systems.

"The [Bank of Korea] intends to present its views on the desirable direction of stablecoin regulation from a central bank perspective," the bank said.

South Korea is currently developing a follow-up legal framework to its inaugural crypto law, which took effect in July 2024 and focuses heavily on protecting crypto investors by setting stricter requirements for exchanges.

The second bill is set to establish a regulatory framework for stablecoins and provide clearer classifications for crypto service providers, along with rules for more transparent token listings and disclosures, the BOK said in its report.

South Korea's Financial Services Commission previously announced that it would start drafting the legislation in the second half of this year.

The BOK report suggested that the country had 18.25 million crypto investors as of December 2024, which is more than 35% of its current total population. The top five exchanges in South Korea see an average daily trading volume of around $12.1 billion.

In a parallel effort, the BOK is testing its central bank digital currency with participation from citizens, retail shops and local banks to determine its commercial feasibility. Local news outlets reported that the central bank's planned second-stage trial, set for October, will explore peer-to-peer transfers of the CBDC.

@ Newshounds News™
Source: The Block

~~~~~~~~~

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Dinar Recaps 20 4/20/25 Dinar Recaps 20 4/20/25

Some “Iraq News” Posted by Clare at KTFA 4-20-2025

KTFA

Clare: Al-Sudani congratulates Christians on Easter: May you have good health, safety and peace every year.

4/20/2025 Baghdad –

"We care about the precious diversity of our homeland."

Prime Minister Mohammed Shia al-Sudani congratulated Christians on Easter Sunday, affirming the government's interest in and support for diversity, which he said represents a source of strength and social and cultural richness.

KTFA

Clare: Al-Sudani congratulates Christians on Easter: May you have good health, safety and peace every year.

4/20/2025 Baghdad –

"We care about the precious diversity of our homeland."

Clare: The Central Bank launches the virtual bank project.

Central Bank of Iraq
Media Office
April 20, 2025

https://cbi.iq/news/view/2855

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

Clare: Baghdad and Erbil are discussing with foreign companies a mechanism for resuming the region's oil exports.

4/20/2025 Baghdad

An informed source revealed on Saturday that a tripartite meeting was held in Erbil, bringing together representatives of the federal government, the Kurdistan Regional Government, and foreign oil companies operating in the region, to discuss a mechanism for resuming Kurdistan's oil exports.

The source told Al-Ahed News, "The meeting addressed the activities of oil investment companies, discussed ways to resume oil exports from the region, and listened to the views of production companies regarding the next steps."

He added, "The meeting witnessed an extensive discussion of the technical and logistical challenges hindering the resumption of exports, and the importance of coordination between all parties was emphasized to ensure positive outcomes that serve the country's interests."

It is noteworthy that a meeting scheduled to be held last Saturday in the capital, Baghdad, between the federal Ministry of Oil, the Ministry of Natural Resources in the regional government, and the Kurdistan Oil Industries Union (APIKUR), was postponed for reasons yet to be revealed. LINK

Clare: Al-Sudani directs a re-evaluation of the oil licensing rounds in Iraq.

4/20/2025

Prime Minister Mohammed Shia al-Sudani directed, on Sunday, the need to re-evaluate the licensing rounds experience 15 years after their launch, stressing the need to work to remove obstacles facing investors in the oil and gas sector.

This came after he chaired a meeting with representatives of major foreign oil companies operating in Iraq, attended by the Minister of Oil, relevant authorities within the ministry, the Board of Supreme Audit, the General Tax Authority, and the Employment Department at the Ministry of Labor and Social Affairs, according to a statement issued by the Iraqi government.

The statement noted that the meeting, the second of its kind, discussed several issues, most notably the mechanism for stopping gas flaring and its investment, the water injection strategy, and the growth of investment in the oil sector, in addition to work permits and social security.

Al-Sudani directed the need to address the obstacles impeding project implementation, stressing that the partnership with companies in this regard is strategic and represents a government priority in maintaining and increasing production rates.

The Prime Minister emphasized the goal of developing production and raising the efficiency of oil reservoir management by introducing modern technology, improving facility performance, and ending the flaring of associated gas. He also emphasized the importance of achieving optimal utilization of this gas, whether in operating power plants or supporting vital industries such as petrochemicals, fertilizers, iron, and steel.

Al-Sudani also noted that the government is working to improve the operating environment for oil companies, enhance security at various sites and facilities, and develop infrastructure. He explained that the government is looking to enter into a long-term partnership with oil companies to ensure optimal use of oil and gas resources in a way that benefits the people and achieves development goals. LINK

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

Clare: Prime Minister's Advisor: The annual deficit set in the three-year budget is precautionary.

4/20/2025- Baghdad

Advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed on Sunday that the annual deficit set in the three-year budget is precautionary and within maximum spending limits. He explained that the three-year budget is based on a preventative philosophy to achieve economic and social goals without risks.

“The amended federal general budget, which was legislated under Law No. 13 of 2023 (the three-year budget), is proceeding in its financial measures within what is called the financial scope or fiscal space, which is a realistic and preventive philosophy based on the principle of using the financial flexibility available to the public finances to adjust its policies in arranging its priorities (such as public spending, taxes, or support levels),” said the Prime Minister’s advisor, Mazhar Mohammed Salih, in an interview with the Iraqi News Agency, followed by “Al-Eqtisad News.”

He pointed out that “this is in order to achieve economic and social goals, without causing major risks to financial stability or excessive increases in public debt.”

Saleh noted that "the aforementioned three-year general budget law, supported by the current amended Financial Management Law No. 6 of 2019, undoubtedly provides the ability to address the set deficit limits with the minimum possible amount of money," indicating that "this is what public spending has followed during the first quarter of fiscal year 2025."

Saleh explained that "although the annual deficit recorded in the three-year budget is 64 trillion dinars, it is a precautionary deficit that was drawn and calculated within the maximum spending limits of 200 trillion dinars, and the export prices of a barrel of crude oil at an annual average of about $70, and exported quantities of about 3.4 million barrels of crude oil per day," noting that "the budget implemented in the fiscal year 2024 was with a comfortable ceiling that did not exceed 156 trillion dinars, with partial borrowings from the domestic financial market that also did not exceed less than half of the ceiling set for borrowing to cover the deficit, and with an average barrel of oil that was $75 per exported barrel."

He continued: "What we need today, in light of the fluctuations in the global oil market, the decline in the oil asset cycle and the expectations surrounding it, requires a review and high discipline in examining expenditures in general and operating expenditures in particular, and accurately controlling their paths and resorting to what is called a budget of sufficiency with the minimum level of expenditure while maximizing financial resources in a manner commensurate with the total expenditure that meets the basic needs of the national economy within the financial space, such as the importance of securing salaries, wages, pensions and social care as a first priority, in addition to agricultural support."

He added that "working to involve the private sector in and finance development projects is a testing opportunity to prove the role of the partnership between the state and the private sector in supporting development and demonstrating the role of the partnership philosophy in overcoming the economic challenges imposed by energy markets as an external international factor on the total economic activity."

He stressed that "the 2025 budget tables being prepared and presented to the House of Representatives must reflect the current conditions in the international economy, whether in terms of international trade protectionist wars or the cautious price fluctuations facing energy markets that affect the financial budgets of the OPEC+ group of countries, including our country, during the current year, in light of cautious global geopolitical and economic fluctuations that have not yet stabilized." LINK

DINARRECAPS8 4/20/25 DINARRECAPS8 4/20/25

Iraq Economic News and Points to Ponder Sunday Afternoon 4-20-25

President Of The Republic: Iraq Possesses Enormous Wealth That Must Be Invested In Supporting Its Economy In The Best Possible Way.

Sunday, April 20, 2025 12:32 | EconomicNumber of reads: 309 Baghdad / NINA / President of the Republic, Abdul Latif Jamal Rashid, stressed, on Sunday, that Iraq possesses enormous and diverse wealth that must be invested in supporting its economy in the best possible way.

A presidential statement said that "President of the Republic, Abdul Latif Jamal Rashid, received at the Baghdad Palace, Minister of Industry and Minerals, Khaled Battal Al-Najm."

President Of The Republic: Iraq Possesses Enormous Wealth That Must Be Invested In Supporting Its Economy In The Best Possible Way.

The President pointed out during the meeting that "Iraq possesses enormous and diverse wealth that must be invested in supporting the Iraqi economy in the best possible way."

The President of the Republic stressed "the importance of this in developing local industry and strengthening the economic situation," noting "the necessity of encouraging and supporting the private sector to contribute alongside the public sector in achieving sustainable development in the country."

For his part, Minister Al-Najm reviewed "the work of the ministry and the projects currently being implemented, in addition to its plans to enhance the industrial sector in Iraq," expressing "his appreciation for the President's interest and valuable directives."

The statement explained that the two sides discussed strategic plans aimed at encouraging the work of factories and plants to meet the needs of the local market. /End https://ninanews.com/Website/News/Details?key=1198916

Prime Minister's Advisor: The Annual Deficit Set In The Three-Year Budget Is Precautionary.

Money and Business Economy News – Baghdad Advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed on Sunday that the annual deficit set in the three-year budget is precautionary and within maximum spending limits. He explained that the three-year budget is based on a preventative philosophy to achieve economic and social goals without risks.

“The amended federal general budget, which was legislated under Law No. 13 of 2023 (the three-year budget), is proceeding in its financial measures within what is called the financial scope or fiscal space, which is a realistic and preventive philosophy based on the principle of using the financial flexibility available to the public finances to adjust its policies in arranging its priorities (such as public spending, taxes, or support levels),” said the Prime Minister’s advisor, Mazhar Mohammed Salih, in an interview with the Iraqi News Agency, followed by “Al-Eqtisad News.”

He pointed out that “this is in order to achieve economic and social goals, without causing major risks to financial stability or excessive increases in public debt.”

Saleh noted that "the aforementioned three-year general budget law, supported by the current amended Financial Management Law No. 6 of 2019, undoubtedly provides the ability to address the set deficit limits with the minimum possible amount of money," indicating that "this is what public spending has followed during the first quarter of fiscal year 2025."

noting that "the budget implemented in the fiscal year 2024 was with a comfortable ceiling that did not exceed 156 trillion dinars, with partial borrowings from the domestic financial market that also did not exceed less than half of the ceiling set for borrowing to cover the deficit, and with an average barrel of oil that was $75 per exported barrel."

He continued: "What we need today, in light of the fluctuations in the global oil market, the decline in the oil asset cycle and the expectations surrounding it, requires a review and high discipline in examining expenditures in general and operating expenditures in particular, and accurately controlling their paths and resorting to what is called a budget of sufficiency with the minimum level of expenditure while maximizing financial resources in a manner commensurate with the total expenditure that meets the basic needs of the national economy within the financial space, such as the importance of securing salaries, wages, pensions and social care as a first priority, in addition to agricultural support."

He added that "working to involve the private sector in and finance development projects is a testing opportunity to prove the role of the partnership between the state and the private sector in supporting development and demonstrating the role of the partnership philosophy in overcoming the economic challenges imposed by energy markets as an external international factor on the total economic activity."

Al-Asadi announces a decline in unemployment in the country and the implementation of new laws to stimulate the labor market.

Minister of Labor Ahmed Al-Asadi Money and Business Economy News – Baghdad Minister of Labor and Social Affairs Ahmed Al-Asadi confirmed the implementation of new laws related to stimulating the labor market and the private sector, while pointing to a decline in unemployment rates.

In a statement carried by the official news agency and reviewed by Al-Eqtisad News, Al-Asadi said on the sidelines of his participation in the 51st session of the Arab Labor Organization Conference:

"The opening session witnessed the honoring of a number of Arab labor pioneers. Iraq was among the countries honored, as the head of the Federation of Trade Unions was honored, in addition to a distinguished employee from the Ministry of Labor."

He explained that "the conference includes a number of sessions and workshops that discuss the reality of the Arab labor market, particularly with regard to labor mobility between Arab countries," noting that "Iraq is one of the countries that attracts Arab and foreign workers, and there are serious discussions about benefiting from skilled labor, while emphasizing the importance of joint Arab action."

He pointed out that "the conference witnessed positions supporting the Palestinian cause, as the heinous crimes committed by the Zionist entity in the Gaza Strip and the recent events in Lebanon were condemned, and the Arab Labor Organization's solidarity with Palestinian workers in the occupied territories was affirmed."

He added, "The Ministry is working on implementing a number of projects related to revitalizing the labor market and the private sector, including activating Retirement and Social Security Law No. 18 of 2023 and amending some laws related to concluding and implementing income-generating projects."

He continued, "Unemployment rates decreased from 16.5% in 2022 to 13.5% in 2024, which represents a significant improvement," noting that "the ministry succeeded in integrating a number of social protection beneficiaries into the labor market, with some being transferred to positions in the Ministries of Interior and Justice, while others were employed in the private sector through companies and investment projects."

He added, "More than 10,000 workers who benefit from social protection have been registered with social security, and the ministry has also launched the 'Leadership' initiative, which aims to create job opportunities for unemployed youth."

Minister of Labor: Iraq is one of the countries that attracts Arab and foreign workers.
Local | 10:38 - 04/20/2025 Mawazine News – Baghdad Minister of Labor Ahmed Al-Asadi stated on Sunday that Iraq is one of the countries that attract Arab and foreign workers.

Al-Asadi pointed out, in a statement to the official newspaper, followed by (Mawazine News), that "Iraq is one of the countries that attract Arab and foreign workers, so there will be discussions regarding regulating the work of these workers in Iraq, as well as determining Iraq's need for skilled workers.
Regarding the projects implemented by the ministry to stimulate the labor market,

Al-Asadi said, "We have several projects related to revitalizing the labor market and revitalizing the private sector, starting with activating and implementing Law No. 18 of 2023, the Retirement Law for Workers, as well as activating and amending the Lending Law and activating soft projects for low-income people." https://www.mawazin.net/Details.aspx?jimare=260850
https://economy-news.net/content.php?id=54633

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

DINARRECAPS8 4/20/25 DINARRECAPS8 4/20/25

Seeds of Wisdom RV and Economic Updates Sunday Morning 4-20-25

Good Morning Dinar Recaps

JP MORGAN SAYS BITCOIN'S SAFE-HAVEN APPEAL IS CRUMBLING FAST

JPMorgan signals a major shift in market sentiment, highlighting fading bitcoin demand as gold captures massive inflows and reasserts dominance in the global safe-haven race.

JPMorgan Warns Bitcoin Is Losing Ground to Gold as Global Flows Shift Dramatically

Good Morning Dinar Recaps

JPMorgan Chase analysts stated Wednesday that bitcoin is no longer riding the wave of safe-haven demand, contrasting sharply with gold’s recent inflows. In a research note, the team led by managing director Nikolaos Panigirtzoglou pointed to clear signs of fading investor appetite for BTC. The JPMorgan analysts stated:

Bitcoin has failed to benefit from the safe haven flows that have been supporting gold
.
They observed that the cryptocurrency has suffered from three consecutive months of exchange-traded fund (ETF) outflows and reduced speculative interest in the futures market.

Gold, in contrast, has drawn consistent flows from both institutional and speculative investors. “Despite a decline in market breadth and liquidity, gold continues to benefit from safe haven flows in a similar fashion to currencies like the Swiss franc and the yen,” the analysts detailed.

“These safe haven flows are seen in both the ETF and futures spaces.” Global gold ETFs saw $21.1 billion in net inflows in the first quarter of 2025, including $2.3 billion from China and Hong Kong-based ETFs.

Earlier this month, JPMorgan analysts warned that bitcoin’s status as a safe-haven asset may be weakening. They said the cryptocurrency’s “digital gold” narrative is under pressure as gold continues to see stronger demand.

The report also stated that gold is leading the current debasement trade and remains its primary beneficiary. JPMorgan continues to consider BTC’s estimated production cost a key price indicator, despite ongoing concerns. Analysts said gold remains the main asset benefiting from currency debasement. They identified $62,000, bitcoin’s estimated production cost, as a critical support level.

@ Newshounds News™
Source: Bitcoin News

~~~~~~~~~

REAL-TIME PAYMENTS SURGE GLOBALLY AS US RAISES LIMITS, BRAZIL DRIVES DIGITAL INCLUSION

The growth of real-time payments has been global in scope, and as detailed in the latest “Real-Time Payments World Map,” a collaboration between PYMNTS Intelligence and The Clearing House, there’s an increasing maturity and broadening adoption of instant payment systems.

Increased transaction limits indicate that a variety of new use cases are coming to the forefront, particularly in commercial settings. A significant development in the United States is the recent increase in The Clearing House’s RTP network transaction limit to $10 million, up from $1 million as of Feb. 9.

The recent boost to transaction limits is leagues above the initial limit. When The Clearing House (TCH) launched its RTP® network in 2017 — the first new payments infrastructure in about 40 years — the transaction limit was $25,000. Jim Colassano, TCH’s senior vice president of RTP Product Development, told PYMNTS in the wake of the $10 million ceiling announcement that, “we’re seeing an explosion of new use cases on the network, and we’re seeing a lot more activity.”

This enhancement has already facilitated substantial intercompany transfers, exemplified by BNY Mellon’s $10 million liquidity management transaction for its client Computershare. The fact that over 285,000 businesses now utilize the RTP rail monthly signals a growing corporate appetite for higher-value instant payments.

Brazil’s ‘Game Changer’

In nations such as Brazil, instant payments are finding wide embrace, as central bank initiatives have proven to be a tailwind. As André Cazotto, investor relations officer, M&A, and corporate strategy officer at PicPay, told PYMNTS in April, “the central bank played a huge role in digital inclusion and competition. Pix — the instant payment system — was a game-changer. In 2024 alone, 155 million people used Pix for transactions totaling over 27 trillion reais.”

The Pix instant payment network is set to introduce a recurring payments feature, Pix Automático, in June. This functionality will streamline recurring billing for both consumers and businesses by automating payments for utilities, streaming services and other regular expenses, potentially reducing reliance on multiple banking partnerships.

The real-time payments ecosystem is also attracting new entrants, particularly in the digital wallet arena. Social media giant X is poised to launch its “X Money Account” in late 2025, partnering with Visa to enable in-platform peer-to-peer payments linked to debit cards via Visa Direct. This move indicates the potential for significant disruption and expanded reach for real-time payments within social media platforms.

Infrastructure providers are also bolstering their capabilities. FIS recently achieved full send capabilities certification for the FedNow® Service, building upon its previous receive-only certification. This advancement allows FIS to support the complete payment lifecycle for its partner banks on the Federal Reserve’s real-time payments rail, including instant payments for various use cases like loans, rent and bills.

@ Newshounds News™
Source: PYMNTS

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 4-20-2025

TNT:

Tishwash: Al-Sudani chairs a meeting with major foreign oil companies operating in Iraq.

Prime Minister Mohammed Shia al-Sudani chaired a meeting today, Sunday (April 20, 2025), with the major foreign oil companies operating in Iraq.

The Prime Minister's media office stated in a brief statement received by Baghdad Today that "Al-Sudani chaired a meeting with the major foreign oil companies operating in Iraq."

TNT:

Tishwash: Al-Sudani chairs a meeting with major foreign oil companies operating in Iraq.

Prime Minister Mohammed Shia al-Sudani chaired a meeting today, Sunday (April 20, 2025), with the major foreign oil companies operating in Iraq.

The Prime Minister's media office stated in a brief statement received by Baghdad Today that "Al-Sudani chaired a meeting with the major foreign oil companies operating in Iraq." link

Tishwash: President of the Republic: Iraq possesses enormous wealth that must be invested in supporting its economy in the best possible way.

President of the Republic, Abdul Latif Jamal Rashid, stressed, on Sunday, that Iraq possesses enormous and diverse wealth that must be invested in supporting its economy in the best possible way.

A presidential statement said that "President of the Republic, Abdul Latif Jamal Rashid, received at the Baghdad Palace, Minister of Industry and Minerals, Khaled Battal Al-Najm."

The President pointed out during the meeting that "Iraq possesses enormous and diverse wealth that must be invested in supporting the Iraqi economy in the best possible way."

The President of the Republic stressed "the importance of this in developing local industry and strengthening the economic situation," noting "the necessity of encouraging and supporting the private sector to contribute alongside the public sector in achieving sustainable development in the country."

For his part, Minister Al-Najm reviewed "the work of the ministry and the projects currently being implemented, in addition to its plans to strengthen the industrial sector in Iraq," expressing "his appreciation for the President's interest and valuable directives."

The statement explained that "the meeting discussed strategic plans aimed at encouraging the work of factories and plants to meet the needs of the local market." link

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

Tishwash: Bafel Talabani: ‘My Account’ is an Important Project, Misunderstood by the Public

PUK leader Bafel Talabani emphasized on Saturday that the "My Account” project is a vital initiative that is often misunderstood by the public.

Speaking to party media on April 19, Talabani said, "The My Account project is very important and the process is not what people understand. We met with the team and were impressed. We had some comments and we hope they will be implemented.”

He added, "This project is so advanced that it has the support of the Americans and other parties. It is a banking system that serves people’s lives, regardless of what it is called.”

Talabani also confirmed that positive progress has been made in recent negotiations between the Patriotic Union of Kurdistan (PUK) and the Kurdistan Democratic Party (KDP), saying both sides have agreed on core principles and strategies. link

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

Tishwash: The "My Account" project threatens to spark massive demonstrations in Kurdistan.

Dilshad Mirani, head of the Popular Protests Committee in Sulaymaniyah, confirmed on Saturday that preparations are underway for demonstrations and protests by employees of the region in all of Kurdistan's governorates in the coming days.

Mirani said, "The reasons we are holding demonstrations in the region are our rejection of the 'My Account' project and to implement the Federal Court's decision to localize employees' salaries to federal banks."

He added that "demonstrations will take place in a new form in all cities and towns if the issue of localizing employees' salaries is not resolved." link

Mot: Yeppers!! -- the ole easter bunny logic

Mot: . Waddya Mean!!!????

DINARRECAPS8 4/19/25 DINARRECAPS8 4/19/25

Iraq Economic News and Points to Ponder Saturday Afternoon 4-19-25

Al-Nusairi Confirms That The Central Bank's Approach To Banking Reform And Development Contributes To Accelerating Iraq's Accession To The World Trade Organization

Banks Economy News – Baghdad During his participation in the specialized workshop held by the Ministry of Trade to discuss Iraq's accession to the World Trade Organization, Samir Al-Nusairi, Economic and Banking Advisor, emphasized the role of the banking sector in contributing to accelerating Iraq's accession to the organization and the important role of the financial and banking sector in it.

He pointed to the measures achieved in 2023 and 2024 by the Central Bank in cooperation with the government, mainly regarding the regulation of foreign trade financing, the electronic platform, and direct work between banks and international correspondent banks, based on the approved reform and development methodology, official data, and monetary policy indicators for 2024 and the plan for 2025 and 2026, in cooperation with international consulting companies specialized in this field, and compliance with financial globalization and international standards adopted by WTO member states.

Al-Nusairi explained the main points of the banking reform project launched by the Central Bank this month in the presence and participation of the Prime Minister.

He pointed out the customs war launched by the US administration and its effects in the medium and long term on the principles of unifying customs duties.

Customs duties of the member states of the organization, and what are the means of confrontation that will be adopted by the World Trade Organization and the CAT organization concerned with regulating customs duties at the international level.

The workshop was attended by members of the National Governmental Committee for Joining the Organization, in which Iraq currently holds observer status along with 21 other countries, out of 166 countries with full membership. Representatives of relevant ministries, the private sector, and unions were also present. https://economy-news.net/content.php?id=54595

Al-Sudani: We Seek To Expand The Military Industries Base In Iraq.

Posted on2025-04-19 by sotaliraq 2025-04-19 Prime Minister and Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani stressed on Saturday his government's efforts to develop and expand Iraq's military industries base.

This came in a speech he delivered at the launch of the 13th Security, Defense, Military Industries, and Cybersecurity Exhibition, being held in the capital, Baghdad.

In his speech, Al-Sudani said, "Through this exhibition, we are clearly seeking to expand the military industries base in Iraq after we established its foundations through laws and the Military Industrialization Authority, and the roar of factories has begun at the level of qualifying light and medium equipment and other military requirements."

He added, "The concept of security is increasingly complex today, encompassing aspects and platforms that did not constitute a security challenge or threat in and of themselves. However, the expanding scope of capabilities available to terrorist and criminal organizations, and the multiplicity of outlets through which they can practice terrorism, crime, recruitment activities, or information hacking, all of this requires special effort and early action, conscious of the importance of fortifying our information systems."

Al-Sudani emphasized the need to preempt the criminal mind with cybersecurity measures, as threats are no longer limited to traditional areas or the human factor of hacking. He explained, “In this regard, our government is working on multiple tracks, including building and training specialized security cadres for information security and electronic protection of service and financial applications, preparing countermeasures for any expected cyber attacks, and securing government data and protecting it from hacking.” LINK

Basra Oil Achieves Weekly Gains

economy | 10:36 - 04/19/2025 Mawazine News – Baghdad Basra Heavy and Medium crude oil posted weekly gains after a significant rise in the last session of the week. Basra Heavy crude closed up $1.34 to $65.31, achieving weekly gains of $3.62, or 5.87%. Basra Medium crude also rose $1.34 to $68.46, achieving weekly gains of $3.44, or 6.29%. https://www.mawazin.net/Details.aspx?jimare=260814

The dollar price fell in Baghdad and stabilized in Erbil

Saturday, April 19, 2025, 5:46 PM | Economic Number of reads: 94 Baghdad / NINA / The dollar prices decreased in Baghdad markets, while they stabilized in Erbil Governorate today.

The dollar prices recorded a decrease with the closing of Al-Kifah and Al-Harithiya stock exchanges, reaching 146,750 dinars for every $100, while the prices recorded this morning 146,900 dinars for every $100.

Selling prices decreased in exchange shops in the local markets in Baghdad, where the selling price reached 147,750 dinars for every $100, while the purchase price reached 145,750 dinars for every $100.

In Erbil, the dollar recorded stability, as the selling price reached 147,050 dinars for every $100, and the purchase price was 146,950 dinars for every $100. /End https://ninanews.com/Website/News/Details?key=1198792

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

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 4-19-25

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XRP NEWS: ETF APPROVAL COULD SUCK UP SUPPLY LIKE A “VACUUM” & PUMP PRICE HIGHER

▪️XRP ETFs could remove coins from market, creating less supply and higher prices.

▪️Analyst predicts XRP price could reach $27 if ETF approval goes through.

▪️BlackRock’s potential ETF involvement could trigger massive XRP demand with its $11 trillion assets.

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A popular crypto analyst from the Good Morning Crypto podcast has made a strong prediction about XRP. He believes that the approval of XRP-based ETFs could trigger massive buying pressure, pushing prices higher. According to him, once proper regulations are in place, both investors and daily users of XRP could find themselves racing to grab what’s left of the supply.

So what’s driving this bullish outlook? Let’s break it down.

XRP ETFs Could Act Like “Vacuum Cleaners”

The analyst explained that Exchange-Traded Funds (ETFs) could play a major role in XRP’s price movement. When someone bu4ys an XRP ETF, the actual XRP gets stored with a qualified custodian, meaning it’s no longer available for trading in the open market. He compared this to giant vacuum cleaners sucking XRP out of circulation.

With already 18 XRP ETF applications on the table, and there’s a speculation that BlackRock, with a AUM of $11 trillion in assets, may enter the space, the potential demand could be massive.

If that happens, a lot of XRP will be taken off the market, which could push the price higher.

Clear Regulation Might Unlock XRP’s Daily Use

At the same time, the analyst believes that under Donald Trump, crypto rules in the U.S. could become clearer & easier. If this happens by August, more businesses might start using XRP for daily payments.

Meanwhile, market makers, the ones who use XRP for regular transactions, would need it every single day. But while they’re using it, they’d also see the price going up because ETFs are buying up the supply.

If this scenario unfolds, XRP may no longer be as cheap or available as it is today.

On the other hand, the Ripple and SEC lawsuits have been paused for the next 60 days. Many believe it could finally come to an end by July or August. This could be a big moment for XRP, possibly pushing its price higher.

How High Can XRP Go, If ETF Approved?

Recently, Coinpedia News reported that Crypto analyst EGRAG Crypto believes XRP has the potential to soar as high as $27 if an XRP ETF gets approved.

As of now, XRP is trading at a much lower price, around $2.08, with a market cap of $121.5 billion.

@ Newshounds News™
Source: Coinpedia

~~~~~~~~~

BRICS: HAS CHINESE YUAN MADE INROADS INTO THE WORLD’S RESERVES?

China has aggressively pushed the Chinese yuan as a major payment option for trade settlements between BRICS members since 2022. After the White House pressed sanctions on Russia for invading Ukraine, the Xi Jinping administration made use of the turmoil by placing its local currency ahead for cross-border transactions.

Its BRICS counterpart Russia was the top user of the Chinese yuan as it settled major trade deals in the currency. Even countries such as Iran, India, the UAE, Nigeria, and Belarus settled several trade payments in the Chinese yuan. So has the Communist country’s currency grown by leaps and bounds in the world’s reserves? The answer is no.

China has aggressively pushed the Chinese yuan as a major payment option for trade settlements between BRICS members since 2022. After the White House pressed sanctions on Russia for invading Ukraine, the Xi Jinping administration made use of the turmoil by placing its local currency ahead for cross-border transactions.

Its BRICS counterpart Russia was the top user of the Chinese yuan as it settled major trade deals in the currency. Even countries such as Iran, India, the UAE, Nigeria, and Belarus settled several trade payments in the Chinese yuan. So has the Communist country’s currency grown by leaps and bounds in the world’s reserves? The answer is no.

BRICS: Chinese Yuan Made Inroads In International Reserves?

The latest data from The Atlantic Council shows that the Chinese yuan has not made any major inroads in international reserves. Though its usage has slightly increased, it does not create any impact or threaten the dominance of the US dollar. Even BRICS countries are now hesitant to use the Chinese yuan for trade as they believe the Communist nation is using the alliance as a stepping stone for world domination.

BRICS member India stepped back from using the Chinese yuan after settling many trade deals in the currency. The Modi government does not want to promote or use the currency as it can make China much stronger. India and China have been at loggerheads for several decades due to border and trade disputes. Therefore, using their local currency will only empower the opposition and make India look weaker.

The Chinese yuan has a long way to go to even challenge the dominance of the US dollar. Other leading currencies like the euro and pound are yet to dent the USD’s prospects despite being second and third in line. BRICS has little to no chance of making the Chinese yuan reign supreme in the coming decades.

@ Newshounds News™
Source: Watcher Guru

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Seeds of Wisdom RV and Economic Updates Saturday Morning 4-19-25

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RIPPLE ENTERS BROKER-DEALER ARENA AS HIDDEN ROAD GAINS FINRA AUTHORIZATION

Ripple just unlocked a game-changing foothold in traditional finance as its $1.25 billion acquisition scores FINRA approval, supercharging institutional access to fixed income markets.

Ripple’s Hidden Road Gets FINRA Go-Ahead to Expand Prime Brokerage Services

Hidden Road, a global prime brokerage firm recently acquired by Ripple for $1.25 billion, announced a regulatory milestone Thursday. Its subsidiary, Hidden Road Partners CIV US LLC, received authorization from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer.

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This new designation allows the firm to enhance its capabilities in fixed income prime brokerage. “This approval enables Hidden Road to expand its recently launched fixed income prime brokerage platform, which currently includes Fixed Income Repo & Global Funding services,” the company stated, adding:

"As a broker-dealer, Hidden Road will now be able to provide new and existing institutional clients with a full suite of regulatory-compliant prime brokerage, clearing, and financing services in fixed income assets."

Noel Kimmel, president of Hidden Road, framed the milestone as pivotal to the firm’s trajectory in capital markets. Kimmel stated: “Our broker-dealer registration is a significant step in the development of Hidden Road’s fixed income prime brokerage platform and bolsters our capabilities in traditional financial markets.”

The executive continued: “As a FINRA member, we will be able to bring our best-in-class, technology-driven fixed income service offering to an expanded universe of institutional clients. Our business has tremendous momentum, and we look forward to continuing to provide superior execution and support to our clients amidst today’s exceptionally dynamic market environment.”

Ripple recently announced its acquisition of Hidden Road, a deal valued at $1.25 billion and pending regulatory approval. If completed, it would make Ripple the first digital asset firm to own a global, multi-asset prime broker.

The acquisition aims to expand Ripple’s cross-border payment and custody services. Ripple CEO Brad Garlinghouse commented: “We are at an inflection point for the next phase of digital asset adoption – the U.S. market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance.”

Ripple CTO David Schwartz described the deal as transformative, stating that XRP could support part of Hidden Road’s daily $10 billion clearing volume and 50 million transactions. “Ripple’s acquisition of Hidden Road is a defining moment for the XRP Ledger and XRP,” he said.

The partnership will integrate blockchain-based settlement, use XRP and RLUSD for collateral and cross-asset trades, and aim to establish Hidden Road as the largest non-bank prime broker globally.

@ Newshounds News™
Source: Bitcoin News

~~~~~~~~~

BRICS: ONLY 50% OF GLOBAL INVOICES ARE WRITTEN IN THE US DOLLAR

The superiority of the US dollar is declining every year as BRICS and other developing countries are working towards uprooting it from the world’s reserve currency status. The latest data had shown that the US dollar’s reserves around the world had already fallen below the 60% mark. The Atlantic Council reported that the US dollar’s global reserves fell to 59% last year.

That’s a gradual decline since 2002 when the global reserves in central banks stood at 72%. The last 23 years saw the USD reserves falling by 13% and the decline could continue further. The decrease falls in line with the BRICS agenda of de-dollarization where the US dollar’s dominancy is getting punctured.

BRICS: Global Invoices in the US Dollar Falls to 50%

Jane Foley, Rabobank’s FX Strategy head said in a recent interview with Bloomberg that the global invoices in the US dollar are now just 50%. The recent data from the SWIFT payment messaging system also shows that global invoices in the US dollar have topped 50.2%. BRICS members are now rewriting trade deals where local currencies are used and not the US dollar for cross-border transactions.

“There’s a lose correlation between the amount of invoices done in or written in the US dollars round. About 50% of the world’s invoices are written in the US dollars. So fundamentally central banks need dollar reserves,” said Foley. However, she stressed that the development could change soon. “And I think that will change,” she said.

“Over the last 40-50 years, the share of the world’s trade from the US dollar has shrunk really because China’s growth in the emerging markets are great, but that is still nearly 60% of reserves,” she said. If BRICS continues the de-dollarization agenda, the US dollar could lose more value in the coming decades.

@ Newshounds News™
Source: Watcher Guru

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