“Tidbits From TNT” Wednesday Morning 5-21-2025

TNT:

Tishwash:  The Ministry of Finance is discussing with the World Bank the establishment of a permanent office in Iraq.

On Tuesday, May 20, 2025, Iraqi Finance Minister Taif Sami received a delegation from the European Bank for Reconstruction and Development to discuss joint cooperation, a number of economic and investment issues, and the establishment of a permanent office in Iraq.

 The Ministry of Finance stated in a statement received by Al-Jabal that "the meeting focused on expanding the bank's role in Iraq during the next phase, particularly in the areas of supporting the private sector, financing small and medium-sized enterprises, and providing technical assistance to government agencies, in line with the priorities of the government program to improve the business environment and develop infrastructure."

According to the statement, the two sides discussed "the progress made in the negotiations on the Host Country Agreement, which aims to enable the Bank to establish a permanent office in Iraq, facilitate its mission of providing technical and advisory support, and expand its network of cooperation with local institutions."

 Potential areas of cooperation were also reviewed, including renewable energy, transportation, and modernizing the financial sector, which would contribute to attracting investments and stimulating economic growth.  link

IWFG1818:  Continuation of the National Emergency With Respect to the Stabilization of Iraq

https://www.federalregister.gov/documents/2025/05/14/2025-08786/continuation-of-the-national-emergency-with-respect-to-the-stabilization-of-iraq#:~:text=For%20this%20reason%2C%20the%20national,declared%20in%20Executive%20Order%2013303.

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Tishwash:  Oil Minister: The Iraqi Oil Services Center will transfer well revenues to the state treasury.

 Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, explained today, Tuesday (May 20, 2025), that the establishment of the Iraqi Center for Oil Services will transfer financial revenues from oil extraction and well drilling to the state treasury instead of going to foreign companies.

Al-Sawad said in a statement to Baghdad Today, "The well-drilling operations require a number of supporting operations that will be under the control of the center, which will save money for the state treasury."

He pointed out that "the center has actually proceeded with updating specialized equipment in a number of oil companies, particularly the Basra Oil Company," explaining that "Basra Oil Company purchased some equipment years ago, and after its arrival in Iraq, the selling companies refused to deliver the software to Iraq. However, the company preserved this equipment, and it has now been updated, and it will enter service as important equipment in the oil sector."

Last Friday, the Oil Minister inaugurated the Iraqi Oil Services Center in Basra Governorate, a move he described as significant in achieving self-sufficiency in vital sectors. This move aligns with the government's directives and decisions within the government program, as well as creating national partnerships with the private sector and relevant entities in the oil industry. link

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Tishwash:  PM Barzani, US Congressman discuss Erbil-Washington ties

On Wednesday, Kurdish Prime Minister Masrour Barzani discussed strengthening Kurdistan-US ties with Congressman Abe Hamadeh in Washington.

The meeting followed the signing of two energy agreements during Barzani’s visit, aimed at strengthening infrastructure and attracting foreign capital to the Kurdistan Region.

Energy remains a strategic sector for the Region, which continues to pursue independent development amid ongoing disputes with Baghdad over oil revenues and export authority.

Hamadeh, a US lawmaker of Kurdish descent, called the agreements a “positive development” for Iraq’s economy and stressed the importance of sustained engagement between Washington and Erbil.

Barzani then congratulated Hamadeh on his election to Congress, highlighting his support for Kurdish interests in US policymaking.

The Kurdistan Region has previously partnered with the United States in counterterrorism and regional stability initiatives.  link

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Tishwash:  The Minister of Finance discusses with the Iraqi Economic Council mechanisms to enhance investment opportunities.

Minister of Finance Taif Sami Mohammed received the head of the Iraqi Economic Council and his accompanying delegation. During the meeting, they discussed prospects for cooperation between the two sides, focusing on enhancing investment opportunities and developing economic partnerships.

The Minister stressed, according to a statement by the ministry, the keenness to open effective channels of communication with economic entities and support initiatives aimed at stimulating the investment environment, providing job opportunities, and driving the wheel of development.

Meanwhile, the Iraqi Economic Council called on the Ministry of Finance to support the Economic Investment Conference scheduled to be held in early June, through coordination and providing the necessary facilities for the success of its work.

The two sides stressed the importance of the conference contributing to highlighting investment opportunities in various sectors and attracting capital.

The Council delegation also stressed the importance of the ministry's participation in preparing workshops and discussions related to financial reform and developing the investment environment, as it is a pivotal body in formulating economic policies.  link

Mot:   Dangerous game!  

Mot:  In Case Youv'e Been Wondering!!!!! 

Are we Heading into a Systemic Meltdown?

Are we Heading into a Systemic Meltdown?

Kitco News:  5-21-2025

Gold demand just wrapped up its strongest first quarter since 2016, driven by a powerful confluence of factors that suggest investors are hedging against economic uncertainty, geopolitical instability, and the potential erosion of faith in traditional financial systems.

According to the World Gold Council’s latest Gold Demand Trends report, a surge in ETF inflows, relentless central bank buying, and booming retail demand, particularly in Asia, propelled the precious metal even as prices hovered near record highs.

In a recent interview with Kitco News, Joseph Cavatoni, Senior Market Strategist at the World Gold Council, delved into the report’s key findings and their implications. The conversation explored potential drivers ranging from inflation hedging and de-dollarization to growing concerns about systemic market stress.

One of the most significant developments in Q1 was the dramatic reversal in ETF flows. After a period of outflows, gold-backed ETFs saw a remarkable surge in demand, accumulating a net 226 tons – the largest inflow since 2022.

This shift indicates a renewed appetite for physical gold as a safe-haven asset, potentially signaling investor unease amidst ongoing economic volatility.

Central banks continued their buying spree, adding significant quantities of gold to their reserves. China and Poland were particularly active, reflecting a broader trend of countries diversifying their holdings away from traditional reserve currencies.

 This persistent demand from central banks provides a solid foundation for gold prices and highlights the metal’s enduring role as a store of value in a turbulent global landscape.

The robust demand for gold across various sectors suggests investors are increasingly concerned about the potential for fiscal instability and persistent inflation. Gold’s reputation as a hedge against inflation and a safe haven during economic downturns is clearly driving its popularity, as individuals and institutions alike seek to protect their wealth against eroding purchasing power.

Interestingly, the European Central Bank (ECB) recently identified gold as a potential systemic risk, warning of a potential liquidity crisis related to gold-backed assets.

 While seemingly contradictory, this warning could be interpreted as a signal that gold’s growing significance in the global financial system is causing concern among regulators.

The conversation also touched upon the potential impact of U.S. tax reform on institutional gold demand. A more favorable tax environment could further incentivize institutional investors to allocate capital to gold, potentially amplifying the existing demand trends.

The surge in retail demand for gold is evident in unusual market behavior. Even retailers like Costco have reportedly limited gold sales, indicating the intensity of consumer interest in acquiring physical gold. This widespread participation underscores the perception that gold offers a tangible and reliable store of value in a world facing increasing uncertainty.

With all these factors converging to fuel gold demand, the question on everyone’s mind is: how high can gold prices go? While predicting future prices is inherently uncertain, some analysts suggest that the current trajectory could pave the way for gold reaching unprecedented levels, with some even mentioning a potential target of $4,000 per ounce.

The strong performance of gold in Q1 2024 paints a compelling picture of its enduring relevance in the modern financial landscape.

Fueled by a confluence of factors including economic anxieties, geopolitical tensions, and central bank accumulation, gold’s appeal as a safe-haven asset appears to be strengthening. While challenges and volatility are inevitable, the underlying demand drivers suggest that gold will continue to play a crucial role in portfolios seeking diversification and protection in an increasingly uncertain world.

https://youtu.be/kHx35QD0SJo

Seeds of Wisdom RV and Economic Updates Tuesday Evening 5-20-25

Good Evening Dinar Recaps,

Peirce Pushes Back: SEC’s Approach ‘Must Be Corrected’

Unlike Gensler, Peirce recognized the potential of crypto early on, going as far as proposing a safe harbor approach to regulating decentralized assets back in early 2020.

She refined her proposal in 2021 and discussed it once again on Monday. A safe harbor framework would involve acknowledging that some crypto assets may start out as securities but may no longer be classified as such over a period of time.

For instance, tokens issued prior to a network launch for the purpose of funding development of the said network would initially be deemed securities but wouldn’t be subject to securities laws during a pre-determined grace period.

Once the platform is fully functional and its maintenance becomes sufficiently decentralized—and assuming this happens prior to the expiration of the grace period—the network’s token ceases to be a security and can trade freely in secondary markets.

But Peirce’s ideas were stymied by Gensler’s regulation-by-enforcement method, which decimated the industry and turned the SEC into crypto’s primary adversary. And on Monday, she stood in defiance of the former chairman, who once quipped, “Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” at the 2022 installment of SEC Speaks.

With the newly appointed Chairman Paul Atkins in her corner, Peirce recounted the story of Samuel Whittemore, a hero of the eighteenth-century American Revolution, before tying it to her own revolutionary perspective: unlike Gensler, she believes most crypto assets are not securities.

“The most popular topic of discussion by far in written input and industry meetings has been security status,” Peirce explained. “My short answer to the question, ‘Are crypto assets securities,’ is that most currently existing crypto assets in the market are not.”

She went on to discuss many nuanced legal points, stressing the importance of economic realities and explaining that “the line demarcating transactions covered by the securities laws from those that are not, is still hazy.” She pledged that the SEC will continue its new journey of providing regulatory clarity, instead of wielding the stick of regulation by enforcement.

But by far, the most consequential of her statements was her take on the security status of crypto assets.

The commissioner then ended her speech with a final reference to Whittemore:

“Two hundred and fifty years after Samuel Whittemore made his stand behind the stone wall, I stand here today grateful for the freedom for which he fought,” Peirce said. “I hope that all of us can look up from the minutiae of the securities laws for a moment to celebrate a quarter of a millennium’s fight for freedom.”

@ Newshounds News™
Source:  Bitcoin News

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U.S. LEADS THE WORLD IN BITCOIN OWNERSHIP, NEW REPORT SHOWS

The U.S. leads global Bitcoin ownership and mining, with strong political backing and growing adoption across diverse demographics.

A new report from River reveals that the United States dominates Bitcoin ownership globally, holding about 40% of all available Bitcoin. With 14.3% of its population owning Bitcoin, the U.S. outpaces Europe, Oceania, and Asia combined.

Corporate America also leads in Bitcoin holdings. Thirty-two U.S. public companies, with a combined market cap of $1.26 trillion, hold Bitcoin as a treasury asset. These firms account for 94.8% of all Bitcoin owned by publicly traded companies worldwide. Major holders include:

• Strategy with 569,000 BTC

• U.S. mining companies with 96,000 BTC

• Others with 68,000 BTC

Totaling 733,000 BTC in the U.S., compared to 40,000 BTC held elsewhere.

The U.S. has also emerged as the global leader in Bitcoin mining since China’s ban on Bitcoin mining in 2021. It is now responsible for 38% of all new Bitcoin mined since then.

The U.S. attracts miners due to:

• Stable regulatory environment

• Access to deep and liquid capital markets

• Abundant energy resources

These advantages have helped the U.S. increase its share of the global Bitcoin mining hashrate by over 500% since 2020, solidifying its position as the center of the industry.

Bitcoin is also emerging as America’s preferred reserve asset, overtaking gold.
Over 49.6 million Americans are in favor of holding Bitcoin, compared to 36.7 million who still prefer gold.

The U.S. government’s Bitcoin advantage is now greater than that of gold, where the U.S. accounts for only 29.9% of the world’s central bank gold reserves.

“Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve,”
said the White House on March 7, 2025.

Political support for Bitcoin is surging in the U.S.
Currently:

• 59% of U.S. Senators

• 66% of House Representatives

Openly support pro-Bitcoin policies, signaling a significant shift in political sentiment and greater acceptance of digital assets as a key part of America’s economic future.

The study also reveals:

• Bitcoin ownership is highest among American males aged 31–35 and 41–45

• Ownership rates within these groups range from 3% to 41%

• Politically, individuals identifying as “very liberal” or “neutral” are more likely to own Bitcoin

• However, conservatives still make up a significant portion of holders

@ Newshounds News™
🔗 Source:   Bitcoin Magazine

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 5-20-25

Good Afternoon Dinar Recaps,

JP MORGAN TO ENABLE CLIENTS TO BUY CRYPTO WITHOUT PROVIDING CUSTODY SERVICES

JPMorgan Chase customers will soon be able to purchase cryptocurrencies through the bank, though the institution won’t hold the digital assets itself, according to an announcement from CEO Jamie Dimon. The move represents a significant shift for the banking giant, whose chief executive has previously been openly skeptical about cryptocurrencies.

“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients,” according to CNBC.

The announcement marks an evolution in Dimon’s stance, who famously described Bitcoin as “a hyped up fraud, a pet rock” in 2023. Despite his personal reservations, Dimon acknowledged client demand, stating:

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”

Financial institutions increasingly embracing crypto

JP Morgan’s decision follows similar moves by competitors in the financial sector.
Goldman Sachs has already ventured into cryptocurrency offerings, while Morgan Stanley recently announced plans to provide crypto services, with its subsidiary E-TRADE also exploring cryptocurrency offerings.

The brokerage sector has shown interest as well, with Schwab backing institutional crypto trading venue EDX Markets and planning to offer crypto to investors pending regulatory changes. Meanwhile, Robinhood continues to generate significant profits from cryptocurrency trading.

JP Morgan’s decision not to provide custody services raises questions about who will safeguard clients’ digital assets. Until recently, U.S. banks were unable to provide crypto custody due to SAB 121 restrictions.

Despite being a world leader in blockchain development, JP Morgan’s choice to sidestep custody is notable given that other banks such as BNY and Standard Chartered view it as an opportunity.

Custody: Who Will Hold the Keys?

The bank will likely select a custody partner. It will need to choose between:

• Established crypto startups like Coinbase, Anchorage Digital, Paxos, BitGo, or Ripple Custody

• Institutional-founded startups such as Zodia Custody and Komainu (though these lack a strong U.S. footprint)

• Major banks such as BNY

The risk of providing custody is highlighted by the recent losses by Coinbase customers following data theft by customer support operatives that was subsequently used for social engineering.

While crypto startups bring specialized experience, traditional financial institutions like BNY offer substantially larger security budgets. However, competitive dynamics complicate matters, as BNY remains a direct JP Morgan competitor.

@ Newshounds News™
🔗  Source:   Ledger Insights

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BRICS: THE BIGGEST REASON INDIA MAY EVENTUALLY LEAVE THE ALLIANCE

It has been a rather complicated few months for the leading collective of the Global South. Amid ongoing tensions for the BRICS bloc and its members, one key reason is emerging that could lead India to eventually leave the economic alliance entirely.

The country has seen no shortage of reasons to potentially see increased tensions with the group. Its conflict with China has been well documented, although it has been resolved to this point. However, in its place is a new issue that is beginning to fracture its relationship with the group.

BRICS Facing Issue that Could Eventually See India Quit the Collective

The start of the year saw US President Donald Trump once again return to the White House. That has brought with it increased geopolitical tensions, as his protectionist economic policy has threatened several global relationships.

Moreover, it is worse for the BRICS bloc, as he entered the Oval Office and threatened 150% tariffs on the economic alliance.

The reason for his confrontational relationship with the bloc remains its de-dollarization efforts. For the last several years, the bloc has sought to lessen its reliance on the greenback in a major way. Even considering the creation of its own trade currency, the plan flies in the face of Trump’s efforts to ensure the dollar's status.

In that pursuit, the BRICS bloc may have found the one way that India could eventually leave the alliance.

@ Newshounds News™
🔗  Source:  Watcher Guru

~~~~~~~~~

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Banks Are Hiding This: This Isn’t a Recession… It’s a Reset I Francis Hunt

Banks Are Hiding This: This Isn’t a Recession… It’s a Reset I Francis Hunt

Soar financially:  5-19-2025

From the floor of the German Gold Show in Frankfurt, Kai Hoffmann sits down with Francis Hunt (The Market Sniper) to break down what could be the biggest financial crisis of our lifetime.

 The U.S. debt system is collapsing. Central banks are cornered. Commercial real estate is imploding. And the Fed? It’s trapped with no real options left.

Meanwhile, Ray Dalio is buying gold, Buffett is backing off America, and crypto is rising again. Are we witnessing the end of U.S. financial dominance?

00:00 Leverage Collapse & Global Depression

01:00 Trump in Saudi Arabia — New Trade Order?

03:00 Embargo, Oil Surges & Consumption Crash

05:00 Inflation Illusions & Retail Recession

08:00 Fed Can’t Cut — They’re Trapped

10:00 No One’s Talking About Bank Health

 12:00 Trading Desks, Elites & Insider Profits

14:00 Recession Forecasts: Why the Banks Are Lying

16:00 America’s Lost Trust — Market Reactions Coming

18:00 Housing, Debt & Corporate Defaults

20:00 Gold, Crypto, & Swiss Bonds

24:00 Buffett’s Exit, Dalio’s Gold Bet

26:00 Final Warning: Reserve Asset Collapse

 28:00 What Happens When No One Buys Debt?

32:00 Massive Liquidity Gaps — Is This the End?

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-20-25

Good Morning Dinar Recaps,

SENATE STABLECOIN BILL PASSES KEY VOTE AS GENIUS ACT REGAINS MOMENTUM

The GENIUS Act passed a cloture vote Monday evening less than two weeks after failing one. It will now head to a full floor vote.

Against all odds, the Senate’s stablecoin bill has regained political momentum, passing a key procedural vote Monday evening that has set the legislation on track for passage within days.

Less than two weeks ago, the bill, dubbed the GENIUS Act, failed to pass the same procedural cloture vote—which ends debate on a measure and advances it towards full floor consideration. At the time, a perfect storm of political winds conspired to derail support for the bill among pro-crypto Democrats. Chief among them: mounting anger in the Democratic Party over President Donald Trump’s perceived crypto-related conflicts of interest.

But tonight, key Democrats jumped back aboard the measure. Ruben Gallego (D-AZ), Mark Warner (D-VA), Lisa Blunt Rochester (D-PA), Kirsten Gillibrand (D-NY), and Angela Alsobrooks (D-MD)—all of whom voted against cloture on the GENIUS Act earlier this month—supported the measure tonight. Alsobrooks and Gillibrand initially co-sponsored the bill.

Having received more than 60 votes, the bill will now cruise towards a full floor vote, which could happen as soon as tomorrow, one Senate source familiar with the matter told Decrypt. If all goes according to plan, the vote on the bill itself should see the same margin of passage as tonight’s procedural vote.

The bill would then need to pass a vote in the House before heading to President Trump’s desk. If signed into law, the GENIUS Act would establish a framework for legally issuing stablecoins in the United States.

Stablecoins are crypto tokens, generally pegged to the U.S. dollar, that allow holders to enter and exit digital asset trades without accessing fiat currencies directly. They can also be used to easily send payments and remittances across borders. It is anticipated that once stablecoin legislation passes, once-hesitant Wall Street giants will flood the sector, bringing billions of dollars, if not trillions, into crypto.

What gave the GENIUS Act new wings just days after the bill nearly death spiraled? Last week, Senate Democrats ironed out a new draft of the legislation, which they touted as containing major concessions from Republicans on issues like conflicts of interest, national security protections, and Big Tech.

But it's unclear if those measures will have enough teeth to make them enforceable. While the new draft forbids all senior executive branch officials from launching their own stablecoins, for example, it still allows the president and vice president to do so—sidestepping the Trump-related concerns that made ethics a prominent issue for the legislation in the first place.

In a similar vein, new language added to the bill in the eleventh hour would prevent Big Tech corporations from launching stablecoins if said corporations tracked and sold users’ sensitive financial data—unless they got customers’ consent to do so in their terms of service.

Another factor that may have shifted political calculus enough to get the GENIUS Act over the 60-vote hump: increased lobbying pressure from industry leaders, who realized that if the bill didn’t pass, hopes for passing any crypto legislation on Capitol Hill this year might die along with it.

Coinbase, for instance, which boasts a tremendous lobbying presence in Washington, had previously dragged its feet in supporting standalone stablecoin legislation—a move intended to increase the likelihood of Congress passing a single crypto bill covering several industry sectors, but that nonetheless frustrated other digital asset policy players. In recent days, with crypto’s entire legislative agenda on life support, Coinbase notably turned up the heat in a push to get the GENIUS Act over the finish line.

The firm’s CEO, Brian Armstrong, made explicit pleas for the bill to be passed immediately. Stand With Crypto, a pro-industry political watchdog launched by Coinbase, warned it would lower politicians’ grades if they voted against cloture on the GENIUS Act tonight—a move the organization notably did not make after the initial cloture vote on the bill earlier this month.

Over the weekend, an in-app notification sent out by Coinbase, and seen by Decrypt, urged American users to send their senators a letter demanding the GENIUS Act be passed immediately.

Behind such signifiers churns an immense amount of money. Last year Coinbase, along with a handful of other major American crypto companies, raised over $300 million for pro-crypto super PACs that spent heavily on congressional races. The same super PACs have already raised tens of millions of dollars for the 2026 midterms.

@ Newshounds News™
Source:  Decrypt

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BRICS: 5 COUNTRIES PAY 93% OF TRADE IN NATIONAL CURRENCIES

BRICS member Russia is advancing the de-dollarization agenda with every alliance it is a part of, and convincing them to settle trade payments in national currencies. In the latest, Russia confirmed that 93% of cross-border payments within the Eurasian Economic Union (EAEU) alliance have been settled in national currencies, not the US dollar.

After BRICS, every other alliance is teaming up for trade settlements in national currencies. The development will add strain on the US dollar and dampen its prospects as the world’s reserve currency. Emerging economies are reshaping the global financial order on their terms and not following the dictation of Western powers.

BRICS: Eurasian Economic Union EAEU Sidelines US Dollar, Pays 93% Trade in National Currencies

The EAEU alliance comprises five countries: Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. In 2015, the bloc announced that it used 70% of payments in national currencies. 

Now, 10 years down the line in 2025, the trade settlements have increased to 93%. Russia has used the BRICS ideology on the EAEU alliance to push national currencies ahead of the US dollar.

“If in 2015 the share of the ruble and other national currencies was about 70% in settlements with our partners in the EAEU, then by the end of last year we reached a record 93%,” said Russian Deputy Minister of Economic Development Dmitry Volvach.

Now, BRICS, CIS, SCO, GCC, ASEAN, and EAEU are using national currencies and ending reliance on the US dollar.

Volvach explained that no country was forced to indulge in de-dollarization, and the switch to national currencies was in their interest.

“It is impossible to artificially force participants in foreign economic activity to switch to one currency. This is a good foundation for further growth,” he said.
BRICS and EAEU are now at the forefront of de-dollarization, where national currencies take the lead over the US dollar.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 5-20-2025

TNT:

Tishwash:  Finance: Ernst & Young contracted to evaluate Iraqi insurance companies.

The Minister of Finance announcedSami's SpectreToday, Monday, contractedIraqWith the company "Ernest"Young" Global to evaluate the performance of government insurance companies and make recommendations to determine their fate.

Sami told the official agency, which followed it:Alsumaria NewsHer ministry, "based on the directives ofcabinetI contracted with the international company Ernst & Young to evaluate the work of government insurance companies.

She added , "The company's role will focus on submitting technical recommendations to the ministry regarding merging, restructuring, or improving the current performance of these companies, in line with international best practices and standards."Ministry of FinanceIn 2023, it announced its selection of the international audit firm "Ernest"Young" and its headquartersAmerica...to "review its financial statements, as a first step in efforts to correct and reform financial policy, consistent with the principles of the Iraqi government's reform program," according to an official statement issued at the time. link

Tishwash:  Rome addresses Baghdad economically: We propose an investment forum to deepen bilateral partnership.

The Italian government has expressed its desire to organize a joint economic forum with Iraq, bringing together businessmen and investors from both countries, as part of efforts to strengthen bilateral relations and expand trade and investment cooperation between Baghdad and Rome.

The Ministry of Foreign Affairs stated in a statement received by {Euphrates News} a copy of it, that: “Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, received today, Monday, the Undersecretary of the Italian Ministry of Foreign Affairs, Ms. Maria Tripodi, in Baghdad.”

At the beginning of the meeting, Tripodi congratulated the minister on the remarkable developments taking place in Baghdad, as well as on the success of the recent Arab Summit. She noted that she had held important and fruitful political and economic discussions during her visit, and affirmed her country's desire to organize an Iraqi-Italian economic forum with the participation of businessmen from both countries.

The Foreign Ministry added, "The meeting discussed developments in the region, with both sides affirming their convergence of views on a number of issues, while expressing optimism about the ongoing positive developments."

For his part, Fuad Hussein expressed his "satisfaction with the results of the discussions held by the Italian official in Baghdad," stressing that "bilateral relations are witnessing significant growth, and there is a shared ambition to enhance economic and trade cooperation between the two countries." link

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Tishwash:  Al-Sudani: Iraq is keen to continue coordination with Nokia to secure the infrastructure for the digital transformation project.

Today , Monday, Prime Minister Mohammed Shia Al-Sudani affirmed Iraq's keenness to continue coordination with Nokia to secure the infrastructure for the digital transformation project.

The Prime Minister's media office said in a statement received by Al-Youm Al-Akhbariya that "Prime Minister Mohammed Shia Al-Sudani received, today, Monday, the Ambassador of the Republic of Finland to Iraq, Anu Saarela, accompanied by a delegation representing the executive directors of the Finnish company Nokia, which specializes in the field of communications and information technology.

" The statement added that "during the meeting, ways to develop cooperation were discussed, especially in the fields of information technology and modern digital technologies, as the company's delegation provided a detailed explanation to Al-Sudani about its programs and plans to implement the digital transformation project and its services in the field of artificial intelligence and fifth generation communications."
Al-Sudani affirmed "Iraq's keenness to continue coordination with Nokia to secure the infrastructure for the digital transformation project in government departments and institutions, and in various sectors."

He pointed out that "the government has laid the foundations for legislation and laws, and created centers concerned with developing this technology and providing the required technologies," indicating that "Iraq presented, during the Arab Summit, important initiatives regarding digital transformation and artificial intelligence." 

For her part, Ambassador Al-Sudani congratulated "the successful organization of the Arab Summit and the strengthening of Iraq's role at the Arab and regional levels, in addition to the government's success in providing services and implementing development projects," stressing that "Nokia is determined to contribute effectively to providing the infrastructure for the digital transformation project, through contracts concluded with Iraqi companies."   link

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Tishwash:  Al-Sudani: Iraq presented important initiatives regarding digital transformation during the Arab Summit.

Prime Minister Mohammed Shia al-Sudani affirmed Iraq's commitment to continuing coordination with Nokia on Monday, noting that Iraq presented important initiatives regarding digital transformation and artificial intelligence during the Arab Summit.

The Prime Minister's Media Office said in a statement seen by Al-Eqtisad News, "Prime Minister Mohammed Shia al-Sudani received, on Monday, the Ambassador of the Republic of Finland to Iraq, Anu Saarela, accompanied by a delegation representing the executive directors of the Finnish telecommunications and information technology company Nokia."

He added, "During the meeting, we discussed ways to develop cooperation, particularly in the fields of information technology and modern digital technologies. The company's delegation provided His Excellency with a detailed explanation of its programs and plans to implement the digital transformation project and its services in the field of artificial intelligence and fifth generation communications."

Al-Sudani affirmed "Iraq's commitment to continuing coordination with Nokia to secure the infrastructure for the digital transformation project in government departments and institutions and across various sectors," noting that "the government has laid the foundations for legislation and laws and created centers dedicated to developing this technology and providing the required technologies."

He stressed that "Iraq presented, during the Arab Summit, important initiatives regarding digital transformation and artificial intelligence."

For her part, the ambassador congratulated the Prime Minister "on the successful organization of the Arab Summit, and the strengthening of Iraq's role at the Arab and regional levels, in addition to the government's success in providing services and implementing development projects." She emphasized that "Nokia is determined to contribute effectively to providing the infrastructure for the digital transformation project through contracts concluded with Iraqi companies."  link

Mot:  Tree fell on my fence, but I’m making the best of it!

Mot: .. and then martha said………..

MilitiaMan & Crew: Iraqi Dinar News-Arab Summit Integration-Partnerships-Stable-Safe Environment-Investment-Development

MilitiaMan & Crew:  Iraqi Dinar News-Arab Summit Integration-Partnerships-Stable-Safe Environment-Investment-Development

5-19-2025

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=F-dWWPsDe18

Iraq Economic News And Points To Ponder Monday Evening 5-19-25

The Dollar Exchange Rate Fell In Baghdad

Stock Exchange   Economy News – Baghdad  The US dollar exchange rate fell against the Iraqi dinar on Monday morning in Baghdad markets.

The dollar exchange rate fell on Baghdad's two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,150 dinars per $100. On Sunday, it was 142,350 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets recorded a decline, with the selling price reaching 143,250 dinars for $100, and the buying price reaching 141,250 dinars for $100. https://economy-news.net/content.php?id=55596

Globally, Iraqi Oil Prices Decline.

Economy | 09:30 - 05/19/2025  Mawazine News - Follow-up:  Iraqi oil prices recorded a new decline today, Monday, during daily trading in the global market.

According to data reviewed by "Baghdad Today", Basra Medium crude recorded $63.64 per barrel, while Heavy crude recorded $60.49 per barrel, with a change rate of -0.57 for both.

The data also showed global oil prices, with British Brent crude recording $65.05, while US West Texas Intermediate crude recorded $62.17 per barrel, with a change rate of -0.37 and -0.33, respectively. https://www.mawazin.net/Details.aspx?jimare=261645

Gold Prices Rise In Local Markets

economy | 05/19/2025   Mawazine News – Baghdad  Gold prices witnessed a significant increase today, Monday, as follows:

21-carat mithqal for 655,000 dinars,   18-carat mithqal for 560,000 dinars,
22-carat mithqal for 686,000 dinars,    24-carat mithqal for 748,000 dinars

https://www.mawazin.net/Details.aspx?jimare=261651

Economist: Iraq's $40 Million Initiative To An Arab Fund Is An Important Step That Requires Clear Details.

Time: 2025/05/19 15:37:39 Read: 1,650 times   {Economic: Al Furat News} Economic expert Salah Nouri praised the Iraqi government's proposal to establish an Arab fund for recovery and humanitarian support, considering it an "important" step that reflects "a sense of shared Arab responsibility."

Nouri told Al Furat News Agency that Iraq's $40 million donation was a "good gesture," but added that it was necessary to clarify the payment mechanisms and participation of other Arab countries in this fund.
The economic expert stressed that such funds "must be managed by the League of Arab States" to ensure "transparency and neutrality" in the distribution of aid.

He suggested that a headquarters be designated for the fund's management and that clear instructions be issued regarding the "amount of donations" from member states.

Nouri also emphasized the importance of "forming specialized committees" to determine the needs of Arab countries affected by disasters and classify the types of disasters that require urgent support.
In a related context, the economic expert noted the "need to subject the fund's management to strict oversight and auditing" by independent bodies to ensure "the proper use of funds and transparency" for member states and Arab citizens.

Nouri concluded his remarks by emphasizing that the success of this fund depends largely on "clarity of vision and procedures" and "the commitment of all Arab countries" to provide the necessary support to achieve its noble humanitarian goals.  LINK

The Ministerial Council Approves Reducing Approval Procedures For Establishing Industrial Cities.

Ministerial Council for the Economy   Money and Business     Economy News - Baghdad
The Ministerial Council for the Economy approved on Monday simplifying approval procedures for establishing industrial cities and setting a timeframe for completing transactions and approvals.

The Council's media office said in a statement, seen by Al-Eqtisad News, that "Deputy Prime Minister and Minister of Planning, Mohammed Tamim, chaired the 15th session of 2025 of the Ministerial Economic Council, which was held at the Council's building in the presence of the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Chairman of the Securities Commission, the Undersecretary of the Ministry of Oil, the Deputy Chairman of the National Investment Commission, and the Prime Minister's advisors for economic and legal affairs.

" The statement indicated that "the Council discussed the items on its agenda and took the necessary decisions regarding them."

It added that "the Council hosted the Prime Minister's advisor to evaluate the work of insurance companies, especially the Iraqi Insurance Company. The advisor presented a working paper on mechanisms for developing the insurance sector in Iraq."

The statement noted that "the Council hosted the Director-General of the Technical Department at the Ministry of Environment to discuss the mechanism for monitoring genetically modified shipments, such as soybean meal, by approving the import license issued by the Ministry of Trade to provide a database for these materials due to their environmental impact on the health of citizens and livestock of all kinds."

He explained that "the Council decided to recommend to the Council of Ministers to include soybean meal in the import license. It also decided to form a committee headed by a representative of the General Secretariat of the Council of Ministers and including representatives from the Ministries of Trade, Finance, Justice, the Central Bank of Iraq, and a representative of the industrial sector in the Private Sector Development Council to submit a comprehensive study on the mechanisms for lending to industrial projects and submit its proposals and recommendations to the Ministerial Council for the Economy."

He continued, "The Council also decided to approve the Ministry of Industry's request to reduce the approval procedures for the establishment of industrial cities and set a timeframe for completing these transactions and approvals through the Committee for Allocation of Land to State Projects formed within the Ministry of Construction, Housing and Public Municipalities, provided that a member from the Industrial Cities Authority is added to coordinate work with this committee."

He pointed out that "the Council approved the Ministry of Planning's request to change the component (establishing a park south of the Kirkuk-Tikrit entrance) to establish a park north and south of Kirkuk city and to pave streets in Hawija district and its affiliated villages, as well as in the neighborhoods of Al-Uruba, Al-Mamduda, and Al-Nasr."   https://economy-news.net/content.php?id=55621

To Evaluate The Performance Of Local Insurance Companies, The Ministry Of Finance Announces A Contract With A Global Company.

Economy | 05/19/2025  Mawazine News – Baghdad  Finance Minister Taif Sami confirmed on Monday that the Ministry of Finance has contracted with Ernst & Young to evaluate the performance of the ministry's government insurance companies and submit recommendations regarding them.

Sami said in a statement followed by Mawazine News that "the Ministry of Finance, based on the directives of the Council of Ministers, has contracted with Ernst & Young to evaluate the work of government insurance companies."

She added that "the company's role will focus on submitting technical recommendations to the ministry regarding merging, restructuring, or improving the current performance of these companies, in line with international best practices and standards."  https://www.mawazin.net/Details.aspx?jimare=261675

Parliamentary Comment On The Closure Of The UNAMI Mission In Iraq

Political | 05/19/2025   Mawazine News - Baghdad -   Member of the Foreign Relations Committee, Amer Al-Fayez, commented on Monday on the complete closure of the United Nations Assistance Mission for Iraq (UNAMI) in 2025.

Al-Fayez told Mawazine News, "The decision to close the UNAMI mission came as a result of Iraq's complete political and security stability and the improvement of its relations with neighboring countries. This is evidence of the development of Iraq's foreign policy and how it is improving its international dealings."

He added, "The current circumstances and developments in all aspects of Iraq, especially its foreign policies, indicate that there is no need for the mission's presence in Baghdad."

Regarding the security and strategic repercussions of closing the United Nations mission in Iraq, the member of the Foreign Relations Committee explained that "it is impossible for it to lead to negative repercussions. On the contrary, it will certainly have positive effects, considering that Iraq has passed the stage of danger and is capable of managing itself. Such institutions turn to weak countries to assist them, and Iraq has successfully passed this stage."

He continued, "The withdrawal of the mission in this manner is a step that indicates that Iraq has begun to engage with its international environment and act in a pivotal manner as a country with clear political and economic weight."
The UN spokesperson announced yesterday, Sunday, the complete closure of the United Nations Assistance Mission for Iraq (UNAMI) in 2025.

The spokesperson said at a press conference held in New York, "The decision to close UNAMI came at the request of the Iraqi government, and after a comprehensive assessment of the situation in the country and the progress achieved in various fields."

He added that "the closure process will be carried out gradually and in an orderly manner, and the remaining tasks will be transferred to other UN agencies and programs operating in Iraq or to the relevant Iraqi government institutions."

He indicated that "the United Nations will remain committed to supporting Iraq and its people in their efforts to achieve stability, sustainable development, and promote human rights, through its specialized agencies and programs."

The spokesperson did not provide further details about the specific timeline for the closure or the tasks that will be transferred to other entities.

This announcement comes after more than two decades of UNAMI's work in Iraq, where it played a pivotal role in supporting the political process, providing humanitarian assistance, monitoring human rights, and advising the Iraqi government in various fields. https://www.mawazin.net/Details.aspx?jimare=261674

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

Seeds of Wisdom RV and Economic Updates Monday Evening 5-19-25

Good Evening Dinar Recaps,

PAUL ATKINS: 'CRYPTO MARKETS HAVE BEEN LANGUISHING IN SEC LIMBO'

The new SEC chair said the regulator "should not be in the business" of stifling innovation at companies like those involved in digital assets.

In one of his first speeches since becoming chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins addressed some of the regulatory concerns around the cryptocurrency industry.

In prepared remarks for a May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of the SEC. He suggested that the financial regulator would be more open to “adapt to and accommodate new developments” while still abiding by its statutes.

“The crypto markets have been languishing in SEC limbo for years,” said Atkins, adding:

“While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to ‘clear the brush’ through staff-level statements.”

Even before Atkins stepped into the role of SEC chair, the commission’s actions under Donald Trump suggested that it would radically depart from the direction of former chair Gary Gensler.

In 2025, the SEC has dropped several investigations and enforcement actions against crypto companies and issued guidance on memecoins and security tokens.

“As I begin my tenure as Chairman, I can tell you that we are getting back to our roots of promoting, rather than stifling, innovation,” said Atkins. “The markets innovate, and the SEC should not be in the business of telling them to stand still.”

Looking to Congress for market structure

Atkins’ remarks came as US lawmakers considered draft legislation to establish a regulatory structure for crypto markets. The proposed bill, moving through the House of Representatives, could clarify the roles the SEC and Commodity Futures Trading Commission (CFTC) have in overseeing and regulating digital assets.

Until the legislation passes Congress and is signed into law, the SEC’s rules and guidelines over crypto could face pushback from affected parties.

The SEC chair has given opening remarks and overseen the commission’s roundtable events, discussing regulatory issues surrounding digital assets and blockchain. The next event, scheduled for June 9, will cover decentralized finance.

@ Newshounds News™
Source:  Cointelegraph

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BRICS: TANZANIA OFFICIALLY BANS THE US DOLLAR

Taking a leaf straight from the BRICS playbook, Tanzania announced an official ban on the US dollar in local transactions. The Bank of Tanzania (BoT) has put a blanket ban on all foreign currencies in local transactions, and only the Tanzanian Shilling (TZS) is made legal tender. The ban comes after an influx of foreign currencies circulated the market for local transactions, leaving the TZS behind.

Tanzania is inspired by the BRICS agenda of de-dollarization and is striving to keep the US dollar in the back seat. Individuals, traders, business owners, and large corporations in the country are not allowed to use the US dollar for transactions. The ban includes both receiving and sending foreign currencies, making it a legal offense to initiate the payments. Every individual, bank, and business entity must use the Tanzanian Shillings and not foreign currencies.

“Under these Regulations, pricing and payment for all goods and services within the country must be in Tanzanian Shillings. Therefore, it is an offense to quote, advertise, or indicate prices in foreign currency, to compel, facilitate, or accept payment in foreign currency (US dollar), or to refuse payment made in Tanzanian Shillings,” read the statement mimicking the BRICS ideology.

BRICS: Tanzania & the US Dollar

The ban on the US dollar also includes foreigners who visit the country as tourists, making Tanzanian Shillings mandatory. Only a few authorities are permitted to use foreign currencies, and the regulation makes it clear that they need to specify the transactions. Those include government contributions to regional organizations, embassies, and transactions by international firms.

What BRICS failed to do to the US dollar, Tanzania got accomplished.

Developing countries are inspired by the BRICS agenda of using local currencies and forging ahead in banning the US dollar. The move will prove costly to the American economy if many countries join in on the de-dollarization bandwagon. The popularity of using local currencies for trade is growing and signals a major warning to the American economy.

@ Newshounds News™
Source:  Watcher Guru

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Iraq news and more posted by Clare at KTFA 5-19-2025

KTFA:

Clare:  The US Treasury just shocked Americans with a $258B surplus — its 2nd biggest monthly surplus in history

The US Treasury just shocked Americans with a $258 billion surplus — its 2nd biggest monthly surplus in history.Is Trump’s plan surprisingly working?

Jing Pan    Sun, May 18, 2025

Budget deficits are something we’ve come to expect from Uncle Sam. After all, without years of overspending, the federal government wouldn’t be sitting on trillions of dollars in debt. But, the latest monthly Treasury statement delivered a rare — and welcome — surprise.

In April 2025, the U.S. government collected $850.2 billion in receipts while spending $591.8 billion, resulting in a monthly budget surplus of $258.4 billion.

That’s not just any surplus — it’s the first monthly surplus of fiscal year 2025 (which began in October 2024), and the second-largest monthly surplus in U.S. history, behind only April 2022’s $308.2 billion surplus.

Does that mean President Trump’s plan is working?

According to the U.S. Department of the Treasury, the surplus was driven by “large individual tax deposits,” with April being the due date for final payments on prior-year taxes and the first installment of quarterly estimated taxes for many individuals and businesses.   LINK

Clare:  Iraq is preparing to hold the Baghdad International Energy Forum with the participation of 12 countries in September.

5/19/2025

The capital, Baghdad, is preparing to host the "Baghdad International Energy Forum," one of the most prominent international events in the energy sector, in early September 2025.

The Ministry of Oil stated in a statement received by {Euphrates News} a copy of it, that: “This important event is being organized under the patronage of Deputy Prime Minister and Minister of Oil Hayan Abdul-Ghani Al-Sawad, in partnership with the “Tomorrow” Foundation for Risk Management and the Iraqi Institute for Dialogue, and under the sponsorship of the Iraqi Oil Marketing Company (SOMO).”

She added, "Official invitations to attend the forum were extended to energy and oil ministers from twelve countries, in addition to senior executives from major international oil companies, and a select group of experts and specialists in various energy fields."

She continued, "The forum's sessions will address vital topics related to the concepts of environmental sustainability, technological innovation, and developments in global energy markets, as well as the challenges and opportunities facing the region in this context."

She noted that "this forum embodies Iraq's future directions in developing the oil, gas, and renewable energy sectors, and reflects its commitment to its active role in consolidating regional and international dialogue on the future of global energy."   LINK

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Clare:  In Washington, the Kurdistan Region signs two strategic energy agreements

5/19/2025

The Kurdistan Regional Government announced on Monday that Prime Minister Masrour Barzani sponsored the signing ceremony of two important energy agreements in Washington, D.C.

In a statement received by Shafaq News Agency, she said, "As part of his official visit to the United States, Kurdistan Regional Government Prime Minister Masrour Barzani oversaw the signing of two important agreements in the energy sector today, Monday, at the headquarters of the US Chamber of Commerce in Washington, DC."

The statement pointed out that the two agreements were concluded between the Kurdistan Regional Government on the one hand, and the American oil companies "HKN Energy" and "Western Zagros" on the other hand, which are companies specialized in this vital field.

These two agreements, estimated to be worth tens of billions of dollars, aim to develop and grow the oil and energy sector in the Kurdistan Region, in addition to strengthening its economic infrastructure.  LINK

PM Barzani’s U.S. Visit Focuses on Energy, Constitutional Rights, and Bilateral Ties

5/19/2025  By Dler Mohammed   ERBIL  — 

Kurdistan Region Prime Minister Masrour Barzani’s current visit to the United States has been described as “exceptionally strategic” as it comes at a critical juncture in both domestic and regional politics. The visit marks the first of its kind by a Kurdish leader under the Trump administration, underscoring Washington’s intent to strengthen its partnership with the Kurdistan Region of Iraq.

Noreldin Waisy, Press Secretary and Media Adviser to Prime Minister Barzani, emphasized the significance of the visit, which comes in response to an official invitation from the U.S. government. He said the visit is a milestone for Kurdish-American relations and serves as an opportunity to advance shared strategic interests.

Waisi emphasized that the KRG is not seeking conflict but rather a constitutional resolution to its disputes with Baghdad. His remarks came during an interview with the London-based Arabic-language daily newspaper Al Arab, where he elaborated on the region’s priorities ahead of PM Barzani’s meetings in the U.S.

“This visit is crucial not just for bilateral relations but for amplifying the Kurdistan Region’s perspective to the international community,” Waisy stated. “It comes at a time when Erbil is deeply frustrated with Baghdad’s failure to uphold constitutional agreements—especially in matters of oil revenues and federal budget entitlements.”

Barzani’s agenda in Washington includes high-level meetings with senior U.S. officials, members of Congress, policy think tanks, and American investors. He is also expected to take part in a specialized energy forum, where multiple agreements and MoUs with leading U.S. energy firms are anticipated.

Tensions with Baghdad Take Center Stage

Waisy accused the federal government of systematic financial pressure, including the deliberate withholding of Kurdistan’s share of the federal budget and delay in civil servant salaries.

He blamed Baghdad for violating multiple signed agreements, including the foundational “State Administration Agreement” that led to the formation of Iraq’s current government. “The federal government’s actions reflect a deeply entrenched centralist mindset that seeks to undermine the constitutional rights of the Kurdistan Region,” he said.

The core grievance centers on what Waisy described as “chronic violations” of revenue-sharing principles. “Despite the Kurdistan Regional Government’s transparency and legal compliance, Baghdad continues to use financial entitlements, particularly salary payments, as a political tool,” he added.

Energy Export Impasse and Federal Overreach

Touching on the energy file, Waisy said the federal government’s ongoing obstruction of oil exports from the Kurdistan Region—now lasting over two years—has inflicted losses amounting to billions of dollars on both the regional and national economies.

“Baghdad’s aim is clear: to keep Kurdistan excluded from the global energy map and force concessions that infringe on our constitutional authorities,” Waisy noted. “This is a broader effort to dominate Iraq’s wealth through centralized control.”

Public Opinion Warfare

Waisy also criticized what he called a “disinformation campaign” by certain Baghdad politicians who portray the Kurdistan Region as a burden on the rest of Iraq. “They frame the delayed and partial salary payments as a benevolent gesture rather than a constitutional right,” he said. “In reality, what is sent to the Region accounts for less than 5% of its rightful entitlements—far below the 14% share affirmed by recent demographic data.”

A Call for International Support and Federal Reassessment

Concluding his remarks, Waisy expressed hope that Barzani’s meetings in Washington would garner stronger international support for Kurdistan’s constitutional rights and further institutionalize its strategic alliance with the United States.

However, he warned of rising risks: “If Baghdad continues down this centralist path, the result could be irreversible deterioration in Erbil-Baghdad relations—jeopardizing not only the political balance but also the broader stability of Iraq.”

Waisy called on the federal government to take immediate and concrete steps to redress grievances and restore mutual trust. “The ball is in Baghdad’s court,” he said, “but the consequences of inaction will be felt across the entire Iraqi political landscape.”   LINK