“Tidbits From TNT” Thursday Morning 5-8-2025

TNT:

Tishwash:  Oil Doesn't Feed the Poor: Where Does Iraq's Wealth Go?!

 In a country with one of the world's largest oil reserves, scenes of destitution and poverty are still strongly present in the streets and working-class neighborhoods. Iraq, with its vast wealth, is powerless to address the dilemma of poverty, which now affects the lives of millions of citizens.

Official statistics indicate that more than a quarter of the population lives below the poverty line. As economic and political crises worsen, the roots of this phenomenon deepen, transforming from a social problem into a real threat to societal stability.

According to a 2024 report by the Iraqi Ministry of Planning, the poverty rate reached approximately 25% nationwide, with higher rates recorded in the southern governorates and conflict-affected areas. In Muthanna Governorate, for example, the rate exceeded 50%, reflecting the magnitude of the economic gap between Iraq's various regions.

The spread of poverty is attributed to several factors, most notably: high unemployment among young people, a lack of development projects, deteriorating infrastructure, and financial and administrative corruption that has depleted public budgets without affecting the lives of ordinary citizens. The absence of a clear strategy for wealth distribution has deprived large segments of their basic rights to education, healthcare, and adequate housing.

Babylon of Civilization… At the forefront of poverty

in Babylon Governorate, the cradle of civilization and home to the world’s first law stele, Minister of Labor and Social Affairs Ahmed Al-Asadi announced during a joint press conference with Babylon Governor Adnan Fayhan that the governorate has the second-highest poverty rate in Iraq.

This statement sparked a wave of anger against the government and Prime Minister Mohammed Shia al-Sudani’s development plans, especially with Babylon’s inclusion on the World Heritage List, raising questions about development priorities and wealth management.

The Voice of the Poor… A Cry in the Face of Silence

“Umm Ali,” a widow living in a slum in Baghdad, told Video News Agency:
“We live on whatever God provides. My children left school to help me collect empty cans from the street. No one asks about us, and the government doesn’t see us.”

Despite government initiatives such as the social safety net and food basket distribution, experts believe these solutions are temporary and insufficient unless accompanied by real economic reforms that create job opportunities and boost local production.

Umm Hussein, a widow and mother of four, described her suffering to the Video News Agency, saying:
“After my husband’s death, I have no one left to support me. I rely on the social welfare salary, but it is sometimes delayed and sometimes not fully disbursed. I am forced to work cleaning houses to cover school expenses and food.”

Poverty is not just numbers… but a daily pain

Poverty in Iraq is not just numbers in official reports; it is a daily story experienced by millions in silence and pain. As the challenges mount, there remains an urgent need for a serious stance from the state and society to rescue those drowning in the quagmire of poverty and pave the way for a more just and equitable future.  link

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Tishwash:  As Trump's visit to the region approaches, Iraq is expected to play a role in the Arab Summit in Baghdad.

Political analyst Talib Mohammed Karim asserted that the upcoming Arab Summit in Baghdad, coinciding with an anticipated visit to the region by former US President Donald Trump, could reshape political roles and give Iraq a prominent position on the regional scene.

During his appearance on the "Free Talk" program on Al Furat satellite channel, Karim said, "This is not the first summit that Baghdad has hosted since 2003; but it comes at a sensitive time when regional changes are accelerating, which may push Iraq to the forefront of the summit's political discussions."

He pointed out that "the importance of the summit lies in its moral dimension for Iraq, as it is one of the founding states of the Arab League and seeks to consolidate its position as a regional and international political player."

Karim stressed that "Iraq will be the 'crown' of the Arab Summit, and no party has the right to diminish its role, whether from a protocol or political perspective," noting that "the European Union's members met on the basis of shared interests, while the Arab League's members were divided due to conflicting political interests."

He expressed his concerns about the impact of the summit's final statement on the level of representation, saying, "If the statement includes any reference to the Zionist entity, it is likely that leaders of countries such as Morocco, Algeria, and the Sultanate of Oman will abstain from attending, as happened at the 2012 Baghdad summit, which was attended only by the Emir of Kuwait."

Karim added that "the repeated  aggression against Syrian territory must be among the summit's topics, given its repercussions for regional security," considering that "Iran's role as a regional power cannot be ignored, and the Trump administration's renewed recognition of the Iranian nuclear issue constitutes an acknowledgment of its strength, which Iraq can leverage within the region's balance of power."

The political analyst concluded his remarks by asserting that "the summit represents an important opportunity for Iraq to strengthen its diplomatic standing, not only in the Arab context but also within the broader international interactions that will be affected by its outcomes." link

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Tishwash:  Parliament is suspended until further notice. Election campaigns and internal crises postpone sessions until after Eid.

MP for the Coordination Framework, Mukhtar al-Moussawi, expects the suspension of parliament sessions to continue during the current month, until Eid al-Adha.

Al-Moussawi said in a statement followed by (Al-Mada), "There is a clear disruption to parliament's work, and it is likely that parliament sessions will not be held in the coming days, especially since it will enter a legislative recess starting next week."

He added, "There is talk about resuming parliament sessions after the Eid al-Adha holiday, in addition to other reasons that were an obstacle to the continuation of parliament sessions, represented by election campaigns that began early."

He explained that "there are many problems within parliament that prevent the parliament from holding sessions or achieving the required quorum, and therefore the parliament will remain suspended throughout the current month and beyond, until after the Eid al-Adha holiday."  link

Tishwash:  Kurdistan Delegation Meets Iraqi Oil Ministry and Epicur Over Oil Export Resumption

A high-level delegation from the Kurdistan Region’s Ministry of Natural Resources arrived in Baghdad today to meet with officials from the Iraqi Oil Ministry and international oil companies, including Epicur, to discuss the resumption of oil exports from the Kurdistan Region.

The meeting comes amid ongoing efforts to resolve the prolonged suspension of oil exports, which has cost Iraq an estimated 300,000 barrels of oil per day. Oil Minister Hayan Abdul Ghani recently stated that Iraq continues to suffer significant financial losses due to the halt and expressed surprise over what he described as new conditions set by the Kurdistan Region for the resumption of exports.

Today's meeting is expected to focus on overcoming the legal and technical challenges hindering the export process and finding a mutual agreement that would allow oil from the Kurdistan Region to flow back into international markets.

Negotiations between Baghdad and Erbil have stalled several times over the past year due to disputes over oil revenue sharing and control of export infrastructure. link

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Mot:  Balance - All bout Balance 

MilitiaMan & Crew: Iraqi Dinar News Update-Shadow Economy-Official Price-Arab Summit Baghdad-Global Confidence in Iraq

MilitiaMan & Crew:  Iraqi Dinar News Update-Shadow Economy-Official Price-Arab Summit Baghdad-Global Confidence in Iraq

5-7-2025

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=zIWEeKc2LVc

Iraq Economic News And Points To Ponder Wednesday Afternoon 5-7-25

Al-Araji Discusses With The US Chargé d'Affaires The Latest Developments On The Regional And International Arenas

Wednesday, May 7, 2025, | Politics Number of reads: 246  Baghdad / NINA / National Security Adviser, Qasim Al-Araji, received in his office on Wednesday, the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Trudeau.

According to a statement by the advisory, the meeting reviewed the latest developments on the regional and international arenas, and the efforts made to consolidate peace and de-escalate the situation in the region and the world.

The Iraqi-American strategic partnership and relations based on the strategic framework agreement signed between the two countries and ways to develop them were also reviewed.

The meeting also discussed the efforts of the two countries regarding the Al-Hawl camp file and the measures taken by the Iraqi government to return its citizens from the camp.

Al-Araji also stressed that the Iraqi government welcomes direct negotiations between the United States of America and the Islamic Republic of Iran, as they serve the interest of stability in the region and the world, reiterating that Iraq is moving forward to develop its relations with international partners. /End https://ninanews.com/Website/News/Details?Key=1225330

Rafidain Bank Achieves More Than Two Trillion Dinars In Electronic Collection Settlements

Banks  Economy News – Baghdad  Rafidain Bank announced today, Wednesday, a qualitative leap in the volume of electronic tax settlements implemented for government departments during the first third of 2025.

According to data released by the bank, total settlements exceeded 2.65 trillion dinars, a significant increase compared to the same period in 2024, when they amounted to approximately 772 billion dinars.

The bank indicated in its data that the growth rate reached 244%, driven by the expansion of the number of government departments activating the electronic collection system, as their number increased from 1,395 departments at the end of March 2024 to 1,808 departments at the end of March 2025.

April 2025 also recorded the highest quarterly settlement rate, reaching 654 billion dinars, compared to only 314 billion dinars in April of last year. This reflects a clear improvement in the system's operational efficiency and enhanced government institutions' confidence in using electronic payment services through Rafidain Bank, according to the data.

The bank emphasized that this achievement falls within the framework of its strategy to support government efforts, implement digital transformation plans, enhance government collection efficiency, and consolidate the principles of transparency and financial governance, in line with government directives to build a more integrated and effective financial system.
https://economy-news.net/content.php?id=55204

The President Of The Republic To The Governor Of The Central Bank: The Need To Develop A Sound Future Strategy For Fiscal Policy

Banks  Economy News – Baghdad   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 revitalize the investment sector by supporting the private sector, especially given the country's remarkable stability on the security, political, and social levels."

In turn, Al-Alaq reviewed the efforts made by the Central Bank and its future plans aimed at strengthening fiscal policy and economic stability in the country. https://economy-news.net/content.php?id=55214

Baghdad Municipality Achieves Highest Revenues In Its History

Baghdad Municipality. "Internet"   Money and Business  Economy News – Baghdad  Baghdad Mayor Ammar Musa confirmed on Wednesday that the Secretariat will rely on its own resources to provide services to the capital's residents. He also noted that 2024 tax collections amounted to more than 295 billion dinars, the highest since its establishment.

"The Baghdad Municipality achieved a collection rate higher than the required target last year, and it was the highest collection rate achieved by the municipality since its establishment, and we aspire to more," Musa said in a statement reported by the official news agency, and seen by "Al-Eqtisad News" (INA). He pointed out that "revenues come either through increased fees, and we are working to prevent them from increasing so as not to affect the individual's living income, or by increasing the municipality's revenues by providing facilities and procedures."

He added, "Our goal in 2025 is for collection to be higher than the planned target for 2024, and we are keen to rely more on our own resources in order to provide services to the people of the capital," explaining that "collection last year, 2024, amounted to more than 295 billion dinars." https://economy-news.net/content.php?id=55230

For The Second Week, The Dollar Continues To Decline In Local Markets

Economy | 07/05/2025  Mawazine News – Baghdad The US dollar exchange rate fell on Wednesday morning in Baghdad's local markets.

The dollar price fell on the Al-Kifah and Al-Harithiya stock exchanges to 134,400 Iraqi dinars for every $100, while yesterday morning, Tuesday, it recorded 144,000 dinars for every $100.

The selling price in exchange shops in Baghdad's local markets reached about 144,500 Iraqi dinars for every $100, and the buying price reached 142,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261185

Oil Prices Rise On Signs Of Increased Demand From Europe And China

Energy   Economy News – Baghdad   Oil prices rose on Wednesday amid signs of weak production in the United States and rising demand in Europe and China, with buyers emerging after prices fell to new lows earlier in the week.

Brent crude futures rose 37 cents, or 0.6 percent, to $62.52 a barrel by 12:15 GMT, while U.S. West Texas Intermediate crude reached $59.53 a barrel, up 44 cents, or 0.74 percent.

Prices for both benchmark crude oils fell to their lowest levels in four years after OPEC+ decided to accelerate production increases, raising concerns about a supply glut at a time when US tariffs have raised concerns about demand.

However, low oil prices in recent weeks have prompted some US energy companies such as Diamondback Energy (FANG.O) to close some of their US offices.

Global oil and gas companies have announced they will reduce the number of drilling rigs, which analysts say will eventually lead to higher prices through reduced production.

Market sources said crude inventories fell by 4.5 million barrels in the week ending May 2, citing figures from the American Petroleum Institute on Tuesday.

Prices also received support from signs of improving demand. Consumers in China increased their spending during the May Day celebrations and as market participants returned from a five-day holiday. https://economy-news.net/content.php?id=55202

Gold Prices Fluctuate In Baghdad And Erbil Amid The Dollar's Decline

Wednesday, May 7, 2025, | Economic Number of reads: 129  Baghdad/ NINA / Foreign and Iraqi gold prices stabilized in the local markets of the capital, Baghdad, and decreased in Erbil on Wednesday.

The selling prices of gold, in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, were recorded for one Mithqal of 21 karat Gulf, Turkish and European gold at 680,000 dinars, and the purchase price was 676,000 dinars.

The selling price of one Mithqal of 21 karat Iraqi gold reached 650,000 dinars, and the purchase price was 646,000.

As for gold prices in goldsmiths, the selling price of one Mithqal of 21 karat Gulf gold ranges between 680,000 and 690,000 dinars, while the selling price of one Mithqal of Iraqi gold is between 650,000 and 660,000 dinars.

As for gold prices in Erbil, they recorded a decrease, as the selling price of 24-karat gold reached 792 thousand dinars, 22-karat gold sold for 726 thousand dinars, 21-karat gold sold for 693 thousand dinars, and 18-karat gold sold for 594 thousand dinars.

The exchange rates of the US dollar recorded a decrease, this Wednesday morning, in the markets of Baghdad and Erbil, reaching 143,400 Iraqi dinars for 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges. / End

https://ninanews.com/Website/News/Details?key=1225343

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 5-7-25

Good Evening Dinar Recaps,

FED HOLDS RATES STEADY AS IT NOTES RISING UNCERTAINTY AND STAGFLATION RISK

• The Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5%, where it has been since December.

• The post-meeting statement noted the recent market volatility and how that is factoring into the central bank’s policy decisions.

• “Uncertainty about the economic outlook has increased further,” the statement said.

WASHINGTON — The Federal Reserve on Wednesday held its key interest rate unchanged as it waits for the Trump administration’s trade policy to take shape and sees its impact on a sputtering economy.

In a move that carried little suspense given the wave of uncertainty sweeping the political and economic landscape, the Federal Open Market Committee (FOMC) held its benchmark overnight borrowing rate in a range between 4.25%-4.5%, where it has been since December.

The post-meeting statement noted the volatility and how that is factoring into policy decisions.

"Uncertainty about the economic outlook has increased further."
"The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen."

While the statement did not specifically address the tariffs, Chair Jerome Powell addressed the issue at his post-meeting news conference.

Stocks briefly ceded some gains after the rate announcement but mostly recovered, with the Dow Jones Industrial Average up nearly 300 points despite some worries over the Fed’s characterization of the economic risks.

“The May FOMC statement in effect warns that a large trade shock is still set to hit the economy in spite of efforts by the Trump administration to deescalate..."
— Krishna Guha, Head of Global Policy and Central Bank Strategy at Evercore ISI

“...with the Fed seeing the risks ahead as two-sided and not providing any early dovish lean in favor of a June rate cut.”
“The net implications for risk assets are negative.”

A possible stagflationary scenario

Finding the balance between the two elements of the Fed’s so-called dual mandate of full employment and stable prices has become more difficult amid President Donald Trump’s tariff push.

In noting that tariffs threaten to aggravate inflation as well as slow economic growth, the statement raises the possibility of a stagflationary scenario largely absent from the U.S. since the early 1980s.

Policymakers have largely agreed that the central bank is in a good position, with the economy generally holding up, to be patient as it calibrates monetary policy.

Powell emphasized this during the press conference:

“The economy itself is still in solid shape.”

Trade Talks in Focus

The Fed’s deliberations come as the White House is locked in negotiations with top U.S. trading partners during a 90-day negotiating period that began in early April. Trump slapped 10% across-the-board tariffs on U.S. imports and threatened other “reciprocal” duties pending ongoing talks.

As near-daily headlines gauge the trade war, the economy has been flashing conflicting signals on growth, inflation, and consumer and business sentiment.

• Gross domestic product (GDP) fell 0.3% in the first quarter

• Slower consumer and government spending and a surge in imports ahead of tariffs

• Most economists expect a return to positive growth in Q2

The FOMC noted that “swings in net exports have affected the data,” while maintaining its view that the economy “has continued to expand at a solid pace.”

Indeed, job growth has held up despite Trump’s efforts to pare down the federal workforce:

• Nonfarm payrolls increased by 177,000 in April

• Unemployment rate held at 4.2%

• Inflation is approaching the Fed’s 2% target

However, tariffs are expected to lead to at least a one-time rise in prices. Trump has urged the Fed to cut rates as inflation has eased. The Fed’s preferred inflation gauge showed:

• Headline inflation at 2.3%

• Core inflation (excluding food and energy) at 2.6%

As with all aspects of the economy, it all depends on what happens with tariffs.

Market Reactions & Outlook

Recent signs of progress in negotiations and some softening from the administration helped reverse a major stock market sell-off after the April 2 “liberation day” announcement from Trump.

However, business surveys continue to show high anxiety—most managers report concerns about supplies and pricing from the tariffs.

Market pricing regarding Fed action has been volatile:

• Heading into the meeting:

• Virtually no chance of a rate cut this week

• <30% probability of a June move

• Next cut expected in July

• Three cuts priced in for the year

The committee’s decision to hold the benchmark rate steady was unanimous.

The federal funds rate, used by banks for overnight lending, also affects mortgages, auto loans, and credit cards.

@ Newshounds News™
Source:  CNBC

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US TREASURY SECRETARY EXPRESSES SUPPORT FOR CRYPTO BILLS AT HEARING

Scott Bessent suggested support for the stablecoin and market structure bills being considered in Congress in response to a question about China.

Speaking at a hearing, US Treasury Secretary Scott Bessent suggested support for two crypto-related bills moving through Congress.

Bessent addressed lawmakers at a May 7 hearing of the House Financial Services Committee, saying that the United States should be the:

“premier destination for digital assets”

in response to a question about American dominance over China in crypto-related innovation. The Treasury Secretary added that:

“good market structure” and “stablecoin legislation” could help ensure this outcome.

Bessent’s remarks echoed those of other Republican lawmakers and President Donald Trump, who initially claimed he wanted to make the US the:

“crypto capital of the world”

during his 2024 campaign. The Treasury Secretary was likely referring to:

• the draft of a digital asset market structure bill released by House Republicans on May 6

• the GENIUS bill to regulate stablecoins, expected to be taken up for a Senate vote on May 8

The Treasury Secretary, a Trump nominee, has supported the president on key crypto policy actions, including:

• an executive order to establish a sovereign wealth fund

• participation in a working group exploring federal stablecoin regulations and a national crypto stockpile

He also stated during a confirmation hearing that he would oppose the creation of a US central bank digital currency while in office.

Democrats Push Back on Crypto Bills Amid Memecoin Dinner Controversy

Even before Trump announced plans to hold an exclusive dinner and VIP tour for top memecoin holders, he faced scrutiny over alleged conflicts of interest tied to his crypto ventures.

The dinner announcement seemed to galvanize Democrats against any crypto-related legislation.

Representative Maxine Waters, ranking member of the House Financial Services Committee, led a walkout of the May 6 hearing on the Republican-drafted market structure bill, citing the need to explore:

“Trump’s crypto corruption”

Additionally, nine Senate Democrats stated they will not support the GENIUS stablecoin bill in its current form, demanding:

• stronger Anti-Money Laundering protections

• tougher oversight on foreign issuers

• improved national security safeguards

It remains unclear whether Republicans, who control both chambers of Congress, will have enough votes to pass either bill.

@ Newshounds News™
Source:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 5-7-25.

Good Afternoon Dinar Recaps,

REP. TORRES TO INTRODUCE BILL BANNING TRUMP, LAWMAKERS FROM CASHING IN ON MEMECOINS AND STABLECOINS

• The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that “uses the name, likeness, image, or other recognizable traits of a covered individual.”

• Some Democrats have aired major concerns over Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on legislation to regulate digital assets.

Rep. Ritchie Torres, D-N.Y., plans to introduce legislation that would block President Donald Trump, future presidents, and members of Congress from "profiteering" on memecoins and stablecoins.

The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that

"uses the name, likeness, image, or other recognizable traits of a covered individual," 

in a message sent by Benny Stanislawski, a spokesman for Rep. Torres, to The Block.

The legislation defines a “covered individual” as a current or former U.S. president, vice president, member of Congress, or any presidentially appointed and Senate-confirmed federal official, along with their immediate family members.

The move comes amid growing criticism among Democrats about Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on digital asset regulation.

Since late 2024, Trump and his family have embraced digital assets, launching their own memecoins shortly before his 2025 inauguration. His affiliated venture, World Liberty Financial, recently launched its own stablecoin. 

Trump also hosted a crypto-themed fundraiser Monday night for the MAGA Inc. super PAC, and is hosting a gala later this month for the top 220 owners of his memecoin.

On Tuesday, Sen. Richard Blumenthal, D-Conn., sent letters to World Liberty Financial and Fight Fight Fight LLC, the company behind Trump's memecoin, to investigate potential conflicts of interest related to Trump's crypto activities.

Torres has shown support for crypto. In March, he and Republican House Majority Whip Tom Emmer created the "Congressional Crypto Caucus" aimed at advancing bills in Washington. Torres also pushed back on the U.S. Securities and Exchange Commission's approach to regulating crypto last year.

@ Newshounds News™
Source:  The Block

 TRUMP FACES SENATE SUBCOMMITTEE INQUIRY OVER 'CRYPTO CORRUPTION'

Opposition lawmakers continue to criticize the president’s crypto ambitions.

• Democratic Senator Richard Blumenthal has opened an investigation into President Trump's crypto businesses.

• Blumenthal has alleged that the launch of the Trump meme coin is unethical.

• President Trump has a number of digital asset ventures that draw ire from Democrats.

Democratic senator Richard Blumenthal is investigating how President Donald Trump's crypto business ventures are potentially violating federal laws.

U.S. Senator Richard Blumenthal said Tuesday that President Trump's meme coin launch and other crypto industry ventures represent

"an unprecedented, pay-to-play scheme to provide access to the Presidency to the highest bidder."

Blumenthal announced that the Senate Permanent Subcommittee on Investigations would be opening a preliminary inquiry into the launch of the president's cryptocurrency, Official Trump, along with DeFi platform World Liberty Financial and the president's other digital asset interests.

"Chillingly, TRUMP allows, and even invites, anyone in the world, including foreign governments and unscrupulous individuals, to directly enrich the president, while hiding potential payoffs in the pseudonymity of the blockchain," Blumenthal said in his announcement, quoting a letter he wrote to the developer of the Official Trump cryptocurrency, Bill Zanker.

The new commander-in-chief ahead of his January inauguration launched a Solana-based meme coin called Official Trump—which trades as TRUMP—and it quickly soared in value before crashing. It's now down 85% from its peak price.

Democrats have alleged that the new commander in chief has profited from the virtual coin's launch, but the president has denied this and avoided questions on the matter.

The president is also associated with an Ethereum-based decentralized finance project, World Liberty Financial. Trump's sons, Eric and Donald Jr., first announced the project last year, and the then-Republican nominee promoted the project on social media ahead of his election win.

Decrypt in March reported that the president and his associates had pocketed around $390 million in revenue from promoting World Liberty Financial.

In April, President Trump also announced a private dinner later this month at his Washington-area golf club for the top 220 holders of his meme coin, plus a private reception and a White House tour for other investors.

The announcements have drawn ire from Democratic lawmakers, who claim that promoting the meme coin is corrupt. House Democrats walked out of a hearing Tuesday about impending crypto industry legislation, due to complaints over Trump's perceived crypto conflicts.

President Trump campaigned ahead of his November win to help the digital asset industry and received backing from crypto entrepreneurs and Silicon Valley hotshots and members of the "PayPal mafia", including current White House AI and crypto czar David Sacks and Tesla CEO Elon Musk.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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Thank you Dinar Recaps

Iraq Economic News And Points To Ponder Wednesday Morning 5-7-25

The National Bank Of Iraq: A Leadership Based On Governance And Transparency

Banks  Economy News – Baghdad  The National Bank of Iraq (NBI) affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. NBI designated what it described as the "most valuable currency" in this vital sector, while pledging continued compliance 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."     https://economy-news.net/content.php?id=55173

Globally, Oil Prices Rise To Exceed $62 Per Barrel.

economy | 04:32 - 06/05/2025  Mawazine News – Baghdad  Oil prices rose Tuesday evening, exceeding $62 a barrel.  Brent crude reached $62.05 a barrel by 4:15 Baghdad time, having closed at $60.23 the previous day.  US crude reached $59.24 a barrel, having closed at $57.13 the previous day. https://www.mawazin.net/Details.aspx?jimare=261170

Gold Hits Two-Week High On Safe-Haven Demand

Tuesday, May 6, 2025 08:54 | Economic Number of reads: 212  Baghdad/ NINA / Gold prices rose to their highest level in two weeks on Tuesday, as concerns over US tariff plans boosted demand for the safe-haven metal, while investors also awaited the upcoming Federal Reserve meeting.

Spot gold rose 1.4 percent to $3,380.92 an ounce, after hitting its highest level since April 22 earlier in the session.

US gold futures rose 2 percent to $3,389.90.

All eyes will be on the Federal Reserve's interest rate decision and Chairman Jerome Powell's remarks tomorrow for clues on the path of interest rates.

The US Federal Reserve has kept interest rates in a range of 4.25% to 4.50% since last December.

As for other precious metals, silver rose in spot transactions by 1.5% to $32.99 an ounce, platinum rose by 1.3% to $971.24, and palladium rose by 0.5% to $945.75. /End https://ninanews.com/Website/News/Details?key=1225002

Economy | 06/05/2025  Mawazine News - Baghdad -  The US dollar exchange rate recorded a new decline in the markets of the capital, Baghdad, with the closing of the stock exchange this evening, Tuesday. 

The dollar price decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 143,800 dinars for $100, after it had recorded 144,000 dinars for $100 this morning.

The selling prices in exchange offices in the local markets in Baghdad also decreased, as the selling price reached 144,750 Iraqi dinars for $100, while the buying price reached 142,750 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=261171

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 5-7-25

Good Morning Dinar Recaps,

HOW DO TRUMP TARIFFS IMPACT THE FED INTEREST RATE DECISION TODAY?

The Federal Reserve is expected to keep interest rates steady this week, with a 95% chance of no changes, as it adopts a cautious “wait and see” approach.

Despite a slow economy in Q1, inflation remains slightly above the 2% target, while unemployment stays low, giving the Fed more time to assess market conditions. The FED interest rate decision is crucial, as the Trump tariffs and ongoing US-China trade talks could influence future actions.

Trump Tariffs and Trade Optimism

The latest Trump tariffs and trade discussions between the US and China are bringing renewed optimism to the market. Credit Suisse analyst Ipek Ozkardeskaya notes that improving trade relations could boost risk assets and revive investor confidence in the US dollar. While the dollar didn’t surge during the peak of the tariff war, a shift in sentiment could drive its near-term performance.

FED to Stay in “Wait and See” Mode

The Federal Reserve remains focused on data, with many expecting no immediate rate cuts. As the Fed weighs Trump’s tariffs and a $4 trillion budget plan, it will likely hold off on making any drastic decisions. Although inflation is still above 2%, the FED interest rate decision will depend on the ongoing trade talks and economic trends.

Dollar Could Rebound Amid Trade Optimism

Trade optimism surrounding Trump tariffs and negotiations could potentially lift the dollar, shifting from a safe-haven narrative to broader confidence. Ozkardeskaya believes that this shift could reignite demand for the US dollar, marking a key development as the FED interest rate decision looms.

FED Interest Rate Decision

With little indication of drastic shifts in the economy, Fed Chair Jerome Powell is expected to keep messaging minimal, even as President Trump pushes for rate cuts. Analysts predict that the Fed may only cut rates if the labor market weakens significantly.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

ETHEREUM’S ‘PECTRA’ NETWORK UPGRADE GOES LIVE: WHAT TO EXPECT

Ethereum developers have activated the network's Pectra upgrade, bringing smart accounts, higher staking limits and improved scalability through key EIPs.

Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it mean?

Pectra went live on the Ethereum mainnet at the start of epoch 364032, May 7, 2025, at about 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251, and EIP-7691.

EIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether.

EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, simplifying operations for large stakers.

EIP-7691 increases the number of data blobs per block, allowing for better layer-2 scalability and potentially significantly reduced transaction fees.

Sergej Kunz, co-founder of Ethereum DEX aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.

0xAw, lead developer at Base Ethereum layer-2 DEX Alien.Base, told Cointelegraph that EIP‑7702 is a “potentially great addition for Ethereum.” He said that account abstraction has struggled due to wallet switching requirements.

The positives of adopting this include:

• Getting rid of approval flows

• Not having to sign each transaction

• Segregated permissions and actions

• Automations on behalf of the user

“It enables a Web2-like UX by hiding many of the underlying scaffolding from users,” 0xAw added.

Kunz said the update will pave the way for native gasless transactions and simplified user flows.
Ivo Georgiev, CEO of smart wallet Ambire, noted:

• “No more infinite ERC-20 approvals”

• “Users won’t need native currency like ETH to pay gas fees”

He added:
“Following this, the UX will be reworked completely… wallets give more limited abilities to apps, increasing overall security — for example, no wallet popup every time you interact with OpenSea.”

Still, not without risks.
0xAw cautioned: “Users have one more dangerous thing they could sign, which would be even more damaging than an approval to wallet drainers.”

Mike Tiutin, CTO of PureFi, warned:
“Drainers proved that users will sign ‘harmless’ messages in cloned DApps. EIP-7702 expands that trick from one token to the whole wallet.”

Georgiev remains optimistic, saying:
“Confident there will not be a tangible increase in risk... the industry knows how to create a secure contract, especially with such a minimal scope as an EIP-7702 delegation.”

Easier Institutional Staking

Artemiy Parshakov, VP of institutions at P2P.org, said:
“EIP-7002 makes institutional staking much easier to integrate without taking too much risk.”

Before Pectra:

• Stakers needed a signed message from their provider to exit

• Couldn’t exit without provider participation

• Had to wait ~13 hours to generate exit message

Now with Pectra:

• Exit delay reduced to ~13 minutes

Supply Validator Deposits Onchain

EIP-6110 enables the execution-layer block to carry validator deposit data to the consensus layer.
Previously:

• Consensus clients waited for Merkle root votes from block proposers
  Now:

• Execution layer directly includes new verifier deposits

This upgrade affects the deep Ethereum consensus layer and follows bugs on Holesky and Sepolia testnets.

Parshakov concluded:
“Our biggest concerns are client bugs, but we trust the Ethereum Foundation and client teams are working to prevent issues on mainnet.”

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

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Newshound's News Telegram Room Link

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Thank you Dinar Recaps

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.

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

“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:

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

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.

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/

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.

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

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

In a major first for the United States, New 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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