“Tidbits From TNT” Thursday Morning 6-19-2025

TNT:

Tishwash:  During Saturday's session, legislation is expected, including the budget and three other laws.

Member of Parliament Mohammed Al-Ziyadi confirmed on Thursday that the Iraqi parliament will resume its sessions starting next Saturday, following a decision to cancel the legislative recess.

Al-Zayadi told Al-Maalouma News Agency that “the House of Representatives will begin its sessions on Saturday, as part of the final legislative term, after the legislative recess was cancelled,” noting that the parliament’s agenda includes a number of important laws that are a priority for the next phase.

He explained that "among the most prominent laws that will be discussed and approved during this session are the law restructuring the Popular Mobilization Forces, amending the industrial investment law, and the education law, in addition to voting on the 2025 budget schedules."

It is noteworthy that Parliament held a deliberative session earlier this week dedicated to discussing the repercussions of the imposed war on Iran, during which the representatives called for the necessity of activating and strengthening air defense systems to ensure the protection of national autonomy.   link

Tishwash:  Government advisor: A positive oil price shock reduces the budget's need for borrowing.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed that the geopolitical circumstances resulting from the ongoing war between Iran and Israel undoubtedly contributed to generating a "positive oil price shock," as oil markets have recovered from the decline in the oil asset cycle (i.e., the previous negative oil shock) in the recent period, with oil prices now making their way towards a rapid rise.

Saleh explained to Al Furat News Agency that "the average oil price decline of $10 per barrel of exported oil from the levels of the beginning of the current year 2025 has returned to witness an increase to its previous stable conditions before the decline, and within a few days, with an increase estimated at about $10 per barrel of exported crude oil, and in an opposite manner under the influence of the positive oil price shock."

He added, "This will undoubtedly reduce the general budget's need for large-scale actual borrowing if public spending is based on the annual minimum of 160 trillion dinars per year, and at an average annual oil price of $75 per barrel. This means covering operating and investment expenses relatively comfortably if the oil barrel maintains an annual average that exceeds or approaches the aforementioned average increase in exports throughout the current fiscal year. This is an activity for the general budget in 2025 that is similar to the spending developments that occurred in 2024."

Saleh pointed out that "what we see is that the current high price structure will likely stabilize without declining even if hostilities between the two parties to the ongoing conflict in the Middle East cease. This is due to the influence of hedging factors and the buildup of fossil fuel stocks at the global level, in addition to the rapid expiration of the downward cycle of oil assets after taking its current stable form and maintaining balance in energy markets under the influence of the continued multiplicity of geopolitical tensions in more than one place in the global energy demand belts."

He stressed that "this does not preclude diversifying non-oil revenue sources in a transparent and more governed manner, and imposing discipline on any unnecessary expenditures that can be postponed at the present time, in light of the policy."  link

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

Tishwash:  The President and Prime Minister affirm Iraq's categorical rejection of any violation of its sovereignty.

President of the Republic, Abdul Latif Jamal Rashid, and Prime Minister, Mohammed Shia Al-Sudani, affirmed during their meeting in Baghdad, on Wednesday, Iraq's categorical rejection of the violation of its sovereignty by the Zionist entity, and the endangerment of its airspace in light of the recent regional escalation.

According to a statement issued by the Prime Minister's media office, received by Mawazine News, during the meeting, the general situation in the country and security developments in the region were discussed as a result of the continued Israeli aggression against the Islamic Republic of Iran, and the widespread threat it poses to the security and stability of the region and the world.

The statement added that "Iraq supports all legal and diplomatic steps taken by the government to protect its sovereignty, including resorting to international bodies and working to resume negotiations between Tehran and Washington as a way to reduce tensions."

The meeting also witnessed an emphasis on the importance of national unity and the solidarity of all political and social forces to support the state's efforts in confronting the increasing challenges resulting from regional developments.  link

**I*************

Tishwash:  Al-Sudani declares 2025 the year of Iraqi industry.

Prime Minister Mohammed Shia al-Sudani announced that 2025 will be the year of Iraqi industry, in a new confirmation of the government's progress with its plans to support national industry and achieve self-sufficiency in vital sectors such as food and energy.

This came during his inauguration, yesterday, Wednesday, of a group of strategic industrial projects in Babil Governorate, which included the mills of the Union Company for the production of zero flour in the Madhatiyah district, which were completed in only (11) months, with a production capacity of up to one million tons annually, which covers about (50%) of the local market’s need and reduces dependence on importing flour, which used to cost the country more than (750) million dollars annually.

The Prime Minister emphasized that "these projects represent a clear example of the government's approach to supporting the manufacturing and food industries, through effective partnerships with the private sector and providing an appropriate investment environment."

Al-Sudani also launched the executive works of the Diwan factory for the production of transformers, cables and smart meters, which is a strategic project to localize electrical industries, and is being implemented with the latest technical specifications with a budget of up to (300) million dollars.

Al-Sudani said: “I announce that the year 2025 will be the year of Iraqi industry, and we are continuing to open major industrial projects and lay the foundation stone for new factories, in the belief that the national economy cannot rise without a strong national industry.”

He pointed out that the government is working to enhance food and energy security and reduce dependence on foreign resources, especially in light of the current global crises, stressing that Iraq possesses the capabilities and competencies that will enable it to rise again as a regional industrial power.

The Prime Minister explained that Babylon Governorate is on the verge of a qualitative transformation in the field of industry, as it includes more than (2000) operating factories, in addition to the government’s readiness to declare it an integrated industrial city after completing the requirements for establishing new industrial cities in it, with support from the federal government.

Al-Sudani concluded by saying, "We strongly support the loyal people of Iraq who are shaping the industrial future, and we are working to remove all obstacles facing the industrial sector, so that it can be the primary driver of economic growth and job creation."  link

Mot: Be Sure And ...... 

Mot:  aaaaaahhhhhhhh -- the Clarity of Life frum da Net!!!!  

Iraq Economic News And Points To Ponder Wednesday Evening 6-18-25

Economist: Iraq's Benefit From Rising Oil Prices Depends On Three Factors
 
Time: 2025/06/18 15:24:10 Read: 540 Times  {Economic: Al-Furat News} Economist Salah Nouri 
confirmed on Wednesday that  Iraq's benefit from rising oil prices depends on three basic factors. He pointed out that fulfilling these conditions will have a positive impact on reducing the budget deficit and  supporting cash liquidity. 

Nouri told Al-Furat News Agency that "Iraq's benefit from rising oil prices depends on its ability to export the quantity planned in the budget,  given the regional security situation and the safety of maritime routes, in addition to  exporting the quantity of oil to the Kurdistan Region of Iraq, and the   amount of oil sales transfers from the US Federal Reserve."

He added that "fulfilling these conditions will have a positive impact on  reducing the budget deficit and  supporting cash liquidity."   https://alforatnews.iq/news/خبير-اقتصادي-استفادة-العراق-من-ارتفاع-أسعار-النفط-مشروطة-بتوفر-ثلاثة-عوامل

The Central Bank Of Iraq Organizes A Workshop On National And Sectoral Assessment Procedures.
 
June 18, 2025  The Central Bank of Iraq's Erbil branch organized a training workshop on

"National and Sectoral Assessment Procedures," attended by the General Manager of the Erbil branch,
in cooperation with the  Center for Banking Studies and the  Compliance Supervisor's Office at the Central Bank of Iraq.
 
The workshop was attended by a group of  private banks,  non-banking financial institutions, and  electronic payment companies operating in the region.
 
The workshop also addressed the   Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the  recommendations of the   Financial Action Task Force (FATF), in addition to the   national assessment of money laundering and terrorist financing risks based on international standards.
 
The workshop  focused on   practical applications and   operational risk assessment, and  presented real-life case studies that enriched the discussion and    developed the participants' analytical skills.
 
The lecturers emphasized the importance of
     private banks,
     non-banking financial institutions, and
     electronic payment companies
adhering to
     updated compliance policies and
     effective cooperation between relevant units
to ensure a
     cohesive banking environment that
     keeps pace with
          international standards and
embodies the vision of the Central Bank of Iraq in this regard.

This workshop comes as part of the vision of the
     Center for Banking Studies at the Central Bank of Iraq and the
     Office of the Compliance Controller of the Central Bank
 
to prepare a qualified generation of banking professionals
     capable of meeting modern regulatory challenges and
     instilling a culture of compliance
 
as the cornerstone of sound banking governance.
    
Central Bank of Iraq    Media Office   June 18, 2025    https://cbi.iq/news/view/2913 

With A Document... The Iraq Stock Exchange Cancels The License Of Batek Company.
 
Economy     2025-06-18 880 views  Alsumaria News – Economy   Stock Exchange decided The Iraq today, Tuesday, to revoke the license of Al-Batec Securities Brokerage Company.
 
A document issued by the market and received by Alsumaria News stated that,
 
“Based on the letter of the Securities Commission No. 1169/5 on 6/5/2025, Regulation No. (5) to stop, suspend and delete brokerage companies and the securities regulations, the following was decided:
 
-Revoking the brokerage status of Al-Batec Brokerage Company, which is wholly owned by...
To the Bank of Babylon and cancel the company’s license and permit to practice work in
The market, based on Article (3//ninth) of the above-mentioned regulations, stipulates that the broker’s brokerage status shall be revoked in one of the following cases:
 
“In the event that the company is suspended from operating in the market by a decision from the Authority or the market, and the company does not take measures to return to work within six months from the date of suspension.”
 
2- Continuing to close all trading stations designated for the company.
 
3- Please settle the deposit account and provide proof of returning investors’ funds to them within a maximum period of 6/25/2025.
 
4- Shareholders’ shares deposited in the company’s account will be returned to the deposit center’s account.
 
5- Babylon Bank shall bear the responsibility for any financial and legal obligations that may arise for the company after this date as a result of its previous activity.
 
We hope that you will retain any supporting documents for all of the company’s previous operations.     
 
[url=https://www.alsumaria.tv/uploadImages/ExtImages/Images1/WhatsApp Image 2025-06-18 at 5.06.53 PM-638858536302127269.jpeg]

https://www.alsumaria.tv/uploadImages/ExtImages/Images1/WhatsApp%20Image%202025-06-18%20at%205.06.53%20PM-638858536302127269.jpeg[/url]
  
https://www.alsumaria.tv/news/economy/530348/بالوثيقة-سوق-العراق-للأوراق-المالية-يلغي-إجازة-ترخيص-شركة-الباتك  

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

Iraq Economic News And Points To Ponder Wednesday Afternoon 6-18-25

Kocher: Iraq's Benefits From Rising Oil Prices Depend On The Absence Of Export Barriers.

Time: 2025/06/18 15:30:01 Read: 480 times   {Economic: Al Furat News} Member of the Parliamentary Finance Committee, Jamal Kocher, confirmed today, Wednesday, that Iraq can benefit from the rise in oil prices if there are no obstacles to oil exports, noting that oil is subject to two basic equations.

In a statement to Al Furat News Agency, Kocher said, "Oil is subject to two equations: the first is oil exports, and the second is the rise in its prices."

He explained that, "If these two equations are achieved, Iraq will benefit from the rise in prices."

He added, "Any disruptions in the sale and shipment of oil by sea could offset the price increases caused by the shortage."  LINK

Government Advisor: A Positive Oil Price Shock Reduces The Budget's Need For Borrowing

Time: 2025/06/18 15:50:02 Reading: 810 times  {Economic: Al Furat News} The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed that the geopolitical circumstances resulting from the ongoing war between Iran and Israel undoubtedly contributed to generating a "positive oil price shock," as oil markets have recovered from the decline in the oil asset cycle (i.e., the previous negative oil shock) in the recent period, with oil prices now making their way towards a rapid rise.

Saleh explained to Al Furat News Agency that "the average oil price decline of $10 per barrel of exported oil from the levels of the beginning of the current year 2025 has returned to witness an increase to its previous stable conditions before the decline, and within a few days, with an increase estimated at about $10 per barrel of exported crude oil, and in an opposite manner under the influence of the positive oil price shock."

He added, "This will undoubtedly reduce the general budget's need for large-scale actual borrowing if public spending is based on the annual minimum of 160 trillion dinars per year, and at an average annual oil price of $75 per barrel. This means covering operating and investment expenses relatively comfortably if the oil barrel maintains an annual average that exceeds or approaches the aforementioned average increase in exports throughout the current fiscal year.

This is an activity for the general budget in 2025 that is similar to the spending developments that occurred in 2024."

Saleh pointed out that "what we see is that the current high price structure will likely stabilize without declining even if hostilities between the two parties to the ongoing conflict in the Middle East cease.

This is due to the influence of hedging factors and the buildup of fossil fuel stocks at the global level, in addition to the rapid expiration of the downward cycle of oil assets after taking its current stable form and maintaining balance in energy markets under the influence of the continued multiplicity of geopolitical tensions in more than one place in the global energy demand belts."

He stressed that "this does not preclude diversifying non-oil revenue sources in a transparent and more governed manner, and imposing discipline on any unnecessary expenditures that can be postponed at the present time, in light of the policy."  LINK

Brent Crude Falls After Trump's Comments

Energy   Oil prices fell about 2 percent on Wednesday, after rising earlier in the session, as investors assessed the possibility of supply disruptions due to the Iran-Israel conflict and the possibility of direct U.S. intervention.

By 10:41 a.m. ET, Brent crude futures were down $1.40, or 1.8 percent, at $76.73 a barrel, and U.S. West Texas Intermediate (WTI) crude was down $1.29, or 1.7 percent, at $73.55. Both contracts had gained more than 4 percent in the previous session.

Prices fell after President Donald Trump on Wednesday refused to answer reporters' questions about whether the United States was planning to strike Iran or its nuclear facilities, saying the Iranians had communicated, but he felt it was "too late to talk."

Trump said Iran had proposed holding talks at the White House, but did not provide details. "He's essentially suggesting that Iran say, 'Okay, we're going to stop our nuclear program,'" said Phil Flynn, senior analyst at Price Futures Group. "That would avoid the United States getting into a conflict and reduce the risk."   https://economy-news.net/content.php?id=56402

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

Iraq Economic News And Points To Ponder Wednesday Morning 6-18-25

Government And Self-Sufficiency Strategy
 
Economic 06/17/2025  Walid Khaled Al-Zaidi  In a world where   needs are growing,  ambitions are multiplying, and  innovations are increasing to improve the living systems of societies and expand the integration capabilities that  governments seek to revive the lungs of their peoples’ economies with more pillars of development and growth, especially in the issue of  resolving crises and overcoming the economic difficulties that stand in the way of living, in order to secure the factors of the safety of their programs away from isolation in sites of wasting energy and chaos in wealth management.

The most prominent form of success for governments is what can be achieved in the issue of
self-sufficiency in many important and essential elements in the structure of needs that they rely on to serve their people, and through expanding the scope of optimal investment in the available latent national wealth, in order to overcome the problem of securing it from abroad.
 
Self-sufficiency in our country in any vital sector is an ambitious and achievable goal through the implementation of innovative programs based on untapped resources and the development of ambitious plans to rise to the level of real strategies based on realistic capabilities in our generous land, which God Almighty has blessed with all the components of development and the foundations for improving the means of life and a comfortable living, provided there is national will, rising determination, confident steps, and a straight path towards realizing the people’s hope of exploiting their country’s wealth in an optimal and appropriate manner that spares it the scourges of crises and the problems of economic transformations that occur in the world from time to time.
 
This is evident in some of the government's current efforts, such as enhancing agricultural production, achieving self-sufficiency in some food crops, improving water resource utilization methods, and developing more efficient water management systems by rationalizing water use and preventing water waste, utilizing solar energy to power some operating systems, and reducing reliance on the national electricity system, which is produced using expensive traditional methods.
 
In another context, Prime Minister Mohammed Shia Al-Sudani emphasized that combating unemployment and employing local workers instead of importing them from abroad will provide job opportunities in the factories of Muthanna Governorate, which produce cement, in which Iraq has reached the stage of self-sufficiency.
 
Therefore, increasing the production of this material is the most prominent evidence that government work programs are aimed at securing market needs and saving the exorbitant costs that burden the country with huge sums of money by importing it from abroad, in light of the great work that Iraq is witnessing to implement service and urban projects that require various construction materials to cover local needs.
 
Another aspect of the stages of achieving self-sufficiency through exploiting the country's resources is the emergence of a national industry with various products by exploiting all the available raw materials and labor,
 
in addition to providing job opportunities for the private sector and its contribution in light of the government's openness to it as a basic partner in the issue of economic integration and ensuring it as a true partner with state institutions to carry out various production operations in light of urban and service entitlements and strengthening the government's confidence in it and in businessmen and the role of Iraqi companies to promote national industry and services in various sectors.  
https://alsabaah.iq/116105-.html   

Planning: Iraq's Near-Total Dependence On The Oil Sector Is A Fragile Model That Must Be Abandoned.
 
Energy and Business     Iraq     oil     Basra  2025-06-17 02:36 Shafaq News/ On Tuesday, Sabah Jundi Mansour, Director General of the Economic and Financial Policies Department at the Ministry of Planning, considered Iraq's near-total reliance on the oil sector to secure the country's general budget revenues a fragile model that requires an alternative.
 
This came in a speech he delivered during a specialized consultative session organized by the Ministry of Planning titled "Maximizing Non-Oil Revenues in Iraq," as part of the government's efforts to address financial challenges and reduce reliance on oil resources, which constitute one of the most prominent structural challenges hindering the country's path to sustainable development. 

Mansour explained that Iraq's near-total dependence on the oil sector, which accounts for more than 90% of general budget revenues, is one of the most significant structural challenges facing the national economy. 

He added, "Recurring crises in the oil markets, particularly in recent years, have exposed the fragility of this model, necessitating an urgent transition to a more diversified and sustainable economic model."
 
The Iraqi state's continued reliance on oil as the sole source of its public budget
exposes the country to the risk of global crises linked to oil markets.
 
This forces it to cover its deficit through external or domestic borrowing each time.
 
This indicates
     a weakness in the management of public funds and
     an inability to find alternative financing solutions.    
  
https://shafaq.com/ar/اقتصـاد/التخطيط-اعتماد-العراق-شبه-الكلي-على-القطاع-النفطي-نموذج-هش-ي-فترض-مغادرته

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 6-18-25

Good Morning Dinar Recaps,

Stablecoins May Help Cut U.S. Debt, Says Treasury Secretary Bessent

U.S. Treasury Secretary Scott Bessent has publicly endorsed the growing role of stablecoins in strengthening the American economy—and even helping reduce the national debt.

In a recent post on X (formerly Twitter), Bessent said that a booming stablecoin market could generate sustained demand for U.S. Treasury bonds, which in turn would lower government borrowing costs.

Stablecoin Growth Could Reach Trillions—and Bring Down Borrowing Costs

▪️ According to a new Citigroup report, the stablecoin market could expand to $3.7 trillion by 2030 in a high-growth scenario, or at minimum reach $1.6 trillion under more conservative projections.

▪️ Bessent echoed this forecast, noting that U.S.-backed stablecoins alone could exceed $2 trillion by 2028, especially if supportive legislation—like the GENIUS Act—continues to move forward.

▪️ Most major stablecoins, including Tether (USDT) and USDC, are backed by U.S. Treasury bonds, meaning issuers must purchase government debt to collateralize their tokens.

“This increased demand for Treasury securities will drive down interest rates on federal debt,” Bessent wrote, calling it a ‘win-win-win’ for the government, private issuers, and consumers.

GENIUS Act: A Legislative Boost to the Stablecoin Sector

▪️ On June 12, the U.S. Senate passed the GENIUS Act by a 68–30 vote, marking a historic step toward comprehensive stablecoin regulation.

▪️ The act is designed to create clear, secure rules for stablecoin issuance and compliance, boosting trust in the sector and enabling further growth both domestically and globally.

▪️ Bessent emphasized that this legal clarity could be the catalyst needed to make the U.S. a global hub for stablecoin development, while reinforcing the dominance of the U.S. dollar in digital finance.

Why This Matters

▪️ The U.S. national debt currently exceeds $35 trillion, and interest payments are one of the fastest-growing components of the federal budget.

▪️ If stablecoin expansion results in sustained buying of Treasury bonds, the government could see a long-term reduction in debt service costs.

▪️ This scenario would embed U.S. debt instruments more deeply into the digital asset ecosystem, further stabilizing the financial system and anchoring the U.S. dollar’s role in global markets.

Right now, the total stablecoin market stands at roughly $255 billion, but with new laws and Treasury support, it could evolve into one of the most significant financial innovations of the decade.

@ Newshounds News™
Source: Crypto Times

~~~~~~~~~

U.S. Senate Passes GENIUS Act in Historic Stablecoin Milestone

In a major breakthrough for crypto regulation, the U.S. Senate passed the GENIUS Act on Tuesday, establishing the country’s first legislative framework for payment stablecoins. The bill passed with a strong bipartisan vote of 68–30, signaling growing congressional consensus on the future of digital finance.

This marks the first time comprehensive crypto legislation has cleared the Senate, and it now heads to the House for consideration.

GENIUS Act: A Defining Moment for U.S. Crypto Policy

▪️ The GENIUS Act is designed to provide clear rules for dollar-backed stablecoins, a rapidly expanding part of the crypto economy.

▪️ Senate Banking Chair Tim Scott (R-S.C.) called the legislation “a product of principled, bipartisan leadership,” adding:

“With the GENIUS Act, we’re bringing clarity to a sector that’s been clouded by uncertainty.”

▪️ Eighteen Democrats joined most Republicans to push the bill through after weeks of procedural hurdles and cross-party negotiations.

Legislative Journey Marked by Friction and Compromise

▪️ Though the bill sailed through the Senate Banking Committee this spring with bipartisan support, it stalled in early May when a group of crypto-friendly Democrats pulled support, citing a breakdown in negotiations.

▪️ Sen. Ruben Gallego (D-Ariz.), a lead Democratic negotiator, celebrated the final deal:

“This is proof of what can be achieved through honest negotiations and a willingness to work across the aisle.”

▪️ A new compromise bill emerged after two weeks of intense talks, paving the way for the landmark vote.

Industry Impact and Bipartisan Support in the House

▪️ House Financial Services Chair French Hill (R-Ark.) welcomed the Senate passage, saying:

“It brings lawmakers one step closer to creating a functional regulatory framework.”

▪️ While the House advanced its own version—the STABLE Act—in April, it has yet to come to the floor. However, Hill noted strong interest in pushing forward quickly to align with Senate progress.

Criticism and Political Tensions Around Trump Ties

▪️ Some Democrats expressed concern about conflicts of interest involving former President Donald Trump, noting the absence of provisions to prevent him from profiting off stablecoin regulations.

▪️ Sen. Jeff Merkley (D-Ore.) criticized the final bill:

“Passing the GENIUS Act without strong anti-corruption measures stamps a Congressional seal of approval on President Trump selling access to the government for personal profit.”

▪️ The initial plan to allow floor amendments was scrapped by Senate Majority Leader John Thune (R-S.D.) to avoid last-minute complications, including controversial proposals like the Credit Card Competition Act.

What’s Next: Market Structure Legislation Still Pending

▪️ The stablecoin bill is part of a larger Republican and Trump administration effort to establish clear crypto rules before August.

▪️ The broader Digital Asset Market Clarity Act, which would determine how regulatory power is split between the SEC and CFTC, has made slower progress but cleared two key House committees last week.

Conclusion:
The Senate’s passage of the GENIUS Act represents a historic win for the crypto industry, marking a shift from regulatory ambiguity to legislative clarity. With the House now expected to take up the measure, stablecoin oversight could soon become the first officially codified area of U.S. crypto law.

@ Newshounds News™
  Source: The Hill

~~~~~~~~~

BRICS Bank to Disburse Loans in National Currencies, Reducing U.S. Dollar Dependence

The New Development Bank (NDB), also known as the BRICS Bank, is moving forward with plans to issue loans in national currencies, a major step toward reducing reliance on the U.S. dollar and strengthening local financial sovereignty among member nations.

The initiative aims to center regional currencies in cross-border financing and make the bank more resilient against external financial pressures.

A Strategic Response to Western Sanctions

▪️ The shift was confirmed by Russian Deputy Foreign Minister Sergey Ryabkov, who attributed the move to sanctions imposed by the White House on several developing countries.

▪️ Ryabkov stated that Russia is working closely with NDB to promote lending and repayment in national currencies, positioning the bank as a more attractive and autonomous lender for emerging economies.

“Sanctions pressure from Western countries still impedes the normal functioning of the bank on the territory of the Russian Federation,” Ryabkov noted.

Dilma Rousseff’s Role in Overhauling BRICS Lending Framework

▪️ The bank’s president, Dilma Rousseff, has been tasked with leading the transition. According to Ryabkov, she is actively implementing measures to expand financing in national currencies and develop new investment tools.

▪️ He emphasized that these steps are aimed at aligning the NDB’s operations with BRICS’ larger vision of a fair, non-discriminatory global financial system.

“The management of NDB... takes necessary steps for BRICS Bank to meet its goals on a fair and non-discriminatory basis,” Ryabkov said.

Trade Wars and Tariffs Fuel the Push for Independence

▪️ Ryabkov also criticized ongoing tariffs and trade wars, stating that these measures have disrupted the flow of global trade and undermined multilateral cooperation.

▪️ He said BRICS nations are united in their view that Western-imposed economic barriers hinder progress toward sustainable development goals.

“Such measures undermine the multilateral trade system,” Ryabkov warned, reiterating BRICS’ call for more inclusive and balanced global finance.

What This Means for Emerging Economies

▪️ By enabling billions in loans to be disbursed and repaid in national tenders, the BRICS Bank is not only insulating member economies from geopolitical pressure—but also increasing the strength and utility of local currencies.

▪️ The move may encourage greater adoption of national currencies in regional trade and investment, positioning BRICS as a serious counterbalance to the dollar-dominated financial order.

▪️ Although no timeline has been announced, the shift signals a deeper financial realignment as the BRICS alliance continues its push for monetary multipolarity.

@ Newshounds News™
Source: Watcher.Guru   

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 6-18-2025

TNT:

Tishwash:  Investment in Kurdistan and Iraq is on the agenda of Nechirvan Barzani's meeting with Emirati diplomats.

Kurdistan Region President Nechirvan Barzani discussed investment opportunities in the Kurdistan Region and Iraq on Tuesday with the Chargé d'Affairs of the UAE Consulate General in the Kurdistan Region, Sheikha Bashir Farhan.

A statement issued by the Kurdistan Region Presidency, received by Shafaq News Agency, stated that, "On Tuesday, June 17, 2025, the President of the Kurdistan Region, Nechirvan Barzani, received Sheikha Bashir Farhan, the Chargé d'Affairs of the Consulate General of the United Arab Emirates in the Kurdistan Region, and discussed with her relations between Kurdistan and the Emirates."

The statement added, "During the meeting, Barzani congratulated Sheikha on assuming her position," expressing "his hope for her success and affirming the support and assistance of the relevant authorities in the Kurdistan Region to enable her to carry out her duties to the fullest extent possible."

For her part, the Emirati official conveyed the greetings and appreciation of the UAE President, Mohammed bin Zayed Al Nahyan, and her country's leadership to Barzani, stressing "the UAE's desire to develop and strengthen relations with the Kurdistan Region," according to the statement.

He pointed out that "the meeting addressed Emirati job and investment opportunities in Iraq and the Kurdistan Region, in addition to the latest developments in the region."  link

Tishwash:  Parliamentary source: Al-Mandlawi is the prime suspect in the 2024 budget manipulation case

An informed parliamentary source revealed, on Wednesday, the involvement of First Deputy Speaker of Parliament Mohsen Al-Mandalawi in the case of tampering with the 2024 budget tables, indicating that there is a large financial difference of up to 15 trillion dinars between the tables sent by the government and those voted on by Parliament.

The source, who preferred to remain anonymous, told Al-Maalouma Agency, “The parliamentary investigations into the tampering with the 2024 budget tables were obstructed by the direct intervention of Mohsen Al-Mandalawi, who exploited his position as acting Speaker of Parliament at the time to pressure the investigation, due to his direct involvement in the case.”

He explained that "the investment committee asked the Finance Committee to provide it with all documents related to the financial tables, and the Finance Committee responded and provided what was requested, but the investigations were stalled and their results have not yet been revealed."

The source stressed that "manipulating the schedules represents a serious violation, especially in light of the absence of final accounts, which opens the door to unaccountable financial transfers and gives multiple parties the opportunity to act without real oversight."

It is noteworthy that economic experts had previously warned of the danger of manipulating budget schedules, given the lack of transparency and the failure to submit final accounts, which reinforces fears of systematic financial corruption within state institutions.  link

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

Tishwash:  Al-Sudani's advisor reveals to "Tariq Al-Shaab" the procedures for dividing "Rafidain" into two banks. 

The Iraqi banking sector continues to suffer from chronic deterioration and weakness due to accumulated financial failures, weak capital, and a host of other factors, hampering its vital role in supporting the national economy.

There is no doubt about the importance of reforming and developing the banking sector in Iraq, including Rafidain Bank, which constitutes the cornerstone of the country's financial system and government payments system.

Conditions for successful structuring

Although this step is necessary, experts emphasize the need to implement it cautiously and gradually, while enhancing governance and transparency to avoid the risks of rapid privatization and prevent any political influence in the new management of the bank or elsewhere, thus ensuring the restoration of confidence among investors and citizens alike.

How is it structured?

In this regard, the Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Salih, stated that Rafidain Bank—one of the largest commercial government banks in Iraq—has previously suffered from accumulated failures that have posed a significant obstacle to its development, despite its status as the backbone of the government payments system.

In an interview with "Tariq Al-Shaab," Saleh said, "Government and individual financial transactions have become largely intertwined, at a time when the bank suffers from weak capital, a near-total reliance on government liquidity, and limited international banking relationships."

He pointed out that Rafidain Bank "alone accounts for approximately 60% of total banking assets in Iraq, which reflects its significant size and the importance of its reform within a broader framework for developing the country's banking sector."

He explained that "the study currently being prepared by Ernst & Young is moving towards separating the bank into two independent entities. The first, called Rafidain 1, will be a joint-stock bank open to citizen participation, with the government's stake remaining below 25%, to avoid transforming it into a mixed-sector or fully private sector."

He explained that "Rafidain 1" will be effectively integrated into the national and international banking environment, will be managed in partnership with a strategic banking partner (international or regional), and will rely on modern digital and financial technology. It will also work to finance foreign trade and enhance domestic investment, representing a qualitative shift in the structure of the Iraqi banking sector, which suffers from isolation between government and private banks.

He added, "The goal is to establish a bank that complies with international standards, is free from money laundering issues, and keeps pace with technological developments, thus contributing to improving the banking environment in Iraq."

traditional Mesopotamia

The second entity, according to Saleh, will maintain the "traditional Rafidain Bank" as a fully state-owned bank, exclusively concerned with government financial operations. It will be the official banking arm of the state, responsible for managing the unified treasury account and all government payments.

He explained that "Rafidain 1, which will be privatized through a guaranteed process, will be completely separate from Rafidain 2, and will deal with the banking market and citizens as a major joint-stock company, with a strategic banking partner." He noted that "the details of the capital, number of branches, size of assets, and the transformation mechanism will be precisely determined within the comprehensive study being prepared by the consulting firm, which is expected to be completed and submitted by the end of this year."

Private sector involvement

For his part, economic expert Ahmed Abdul Rabbo stressed that "the restructuring of Rafidain Bank represents a crucial step in the process of reforming the Iraqi banking sector, but it requires careful and gradual implementation to avoid any negative repercussions."

In an interview with "Tariq Al-Shaab," Abd Rabbo explained that "successful restructuring must begin with comprehensive administrative and technical reforms, clearing the public budget of accumulated burdens, and strengthening the principles of governance and transparency." He emphasized the need to "gradually involve the private sector without relinquishing the state's strategic control over the bank."

He warned of "the risks of rapid or random privatization, or selling assets for less than their true value, as well as maintaining government influence within the bank's new management, all of which could undermine reform goals rather than achieve them."

He continued that the success of this process "will contribute to restoring confidence in the banking sector, enhance the attraction of local and foreign investment, and improve the efficiency of the financial system as a whole." However, he cautioned that "any errors in implementation could lead to financial or social crises that would be difficult to contain later."  link

Mot:  Sure Miss those simpler days.

Mot:  I've Had Enough – Sooooo 

MilitiaMan & Crew: Iraq Dinar Update-End To Cash-Maximization of Non-Oil Revenues-Banking Reforms-International Trade

MilitiaMan & Crew:  Iraq Dinar Update-End To Cash-Maximization of Non-Oil Revenues-Banking Reforms-International Trade

6-17-2025

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=LlexD2IEHeA

Iraq Economic News And Points To Ponder Tuesday Evening 6-16-25

A Parliamentary Bloc Calls For A Permanent Meeting Of The Crisis Cell To Address Developments In The Region.

Tuesday, June 17, 2025, | Politics Number of reads: 210  Baghdad / NINA / The parliamentary opposition bloc criticized what it described as the absence of representatives of the blocs representing the governorates from the emergency session to discuss the violation of Iraqi airspace, while demanding a permanent convening of the crisis cell to address any developments in the region.

The head of the bloc, MP Amer Abdul Habbar, said in a press conference on Tuesday, that "the session held to discuss the violation of Iraqi airspace did not achieve quorum, as the number of attendees reached only 75 representatives, and there were no representatives of the Kurdish blocs, the blocs of the central and southern governorates, and the blocs of the western governorates, but rather the presence of only individuals to discuss a sensitive issue that affects the country's sovereignty, security and stability."

He added, "Since last year, we have submitted an official request to form a secret operations room headed by the Commander-in-Chief of the Armed Forces and with the participation of all security agencies and formations, including those affiliated with the security services and those not affiliated, for the necessity of having a national decision that takes into account the interest of Iraq, and spares the country the risk of entering into military and security conflicts." https://ninanews.com/Website/News/Details?Key=1234931

The Dollar Declines In Iraq After An Earlier Rise.

Economy | 06/17/2025  Mawazine News - Baghdad -  The dollar exchange rate witnessed a decline against the dinar in local markets. It fell on the Al-Kifah and Al-Harithiya stock exchanges to 143,250 Iraqi dinars for every $100, while yesterday morning, Monday, it recorded 143,850 dinars for every $100.

Selling prices in exchange shops in local markets in Baghdad also declined, as the selling price reached 144,250 Iraqi dinars for every $100, and the buying price reached 142,250 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=262691

Gold Temporarily Fell 1.2% After A Sharp Rise.

Tuesday, June 17, 2025 | Economic Number of reads: 177   Baghdad / NINA / Gold prices fell by more than 1% during today's trading, as investors turned to profit-taking after the precious metal approached its highest levels in eight weeks.

Spot gold fell 1.2% to $3,392.86 per ounce, after reaching its highest level since April 22 earlier in the session.  The yellow metal had risen by more than 1% on Friday.  US gold futures fell 1% at settlement, recording $3,417.30 per ounce.

As for the rest of the precious metals, silver prices stabilized at $36.33 per ounce, while platinum rose 2% to $1,252.57, and palladium rose 0.8% to $1,036.10 per ounce. / End https://ninanews.com/Website/News/Details?key=1234872

Brent Crude Futures Rose 1.6%.

Tuesday, June 17, 2025 09:47 | Economic Number of reads: 176  

Baghdad/ NINA / Global oil market prices rose more than 2% today (Tuesday).

Brent crude futures rose $1.17, or 1.6%, to $74.4 a barrel.

US West Texas Intermediate crude rose $1.34, or 1.87%, to $73.11. https://ninanews.com/Website/News/Details?key=1234874

Economist: Targeting Oil Facilities Could Raise The Price Of A Barrel To $130.
 
Today 12:18  Information / Baghdad..  International economics professor Nawar Al-Saadi warned on Tuesday that  an escalation in military tensions between Iran and the Zionist entity, with the exchange of strikes shifting from limited scope to direct targeting of vital infrastructure,  could push the world toward one of the most serious economic crises in decades.   

Al-Saadi told Al-Maalouma News Agency that  "the targeting of a gas platform by the Zionist entity and Iran's response by bombing a refinery in Haifa represent a dangerous indicator of the potential outbreak of a strategic assets war in which energy facilities, including oil and gas, become key targets in the conflict." 

He added that  "global energy security will be the first to pay the price," noting that  "the Strait of Hormuz, over which Iran has geographic control, passes more than 25% of global oil exports."   

He explained that  "any actual threat to this vital waterway, whether through closure, bombing, or naval mines, would cause a market shock that could send oil prices to nearly $130 per barrel if navigation were partially disrupted." 

 He explained that  "this price jump will put significant pressure on the economies of importing countries, particularly in Asia and Europe,  and will push toward a new global inflationary wave
that could weaken purchasing power and lead to an economic slowdown that could reach the point of recession if the conflict continues." 

 He pointed out that  "the repercussions of the escalation will impact global supply chains,
particularly in the transportation and heavy industry sectors, due to rising fuel and logistics costs,
which threatens a shortage of basic commodities and a decline in global production." 

He stressed that  "the Gulf states will not be immune from the impact, despite their relative distance from the geography of the confrontation," noting that their energy facilities remain vulnerable to potential missile or electronic attacks, which would deepen the supply crisis. 

As for Iraq, he noted, "The impact will be twofold.
 
While it may benefit in the short term from higher oil prices,
it could face a real problem if the Strait of Hormuz is closed or export routes are disrupted,
particularly given the Ceyhan pipeline's closure and its current reliance on the Gulf as the sole conduit for its oil exports." 

He concluded by saying,  "The transformation of the conflict into a full-scale war on energy infrastructure will not remain confined to its security or political scope, but may cause a global economic shock deeper than that caused by the Ukraine war, with the potential to redraw the map of alliances and centers of economic influence in the world."  End 25/S      
https://almaalomah.me/news/101672/economy/اقتصادي:-استهداف-منشآت-النفط-قد-يرفع-سعر-البرميل-إلى-130-دول  

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

Iraq Economic News And Points To Ponder Tuesday Afternoon 6-16-25

Iraq’s Foreign Exchange Reserves Decline
 
Iraq Amr Salem June 17, 2025 The Central Bank of Iraq. Photo: INA  Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) revealed on Tuesday that the country’s foreign exchange reserves declined in May 2025. 
 
Official data released by the CBI indicated that the country’s reserves of foreign exchange reached 126 trillion Iraqi dinars ($96.9 billion) on May 31 compared to 127.32 trillion Iraqi dinars ($97.94 billion) on May 1, Shafaq News reported.
 

Iraq’s foreign exchange reserves declined from 127.51 trillion Iraqi dinars ($98.089 billion) in April.
 
The country’s foreign exchange reserves amounted to 130.34 trillion Iraqi dinars ($100.27 billion) in 2024, down from 145.25 trillion Iraqi dinars ($111.73 billion) in 2023.
 
The director of the Investment Department in the CBI, Mohammed Younis,
revealed earlier in June that foreign reserves surpassed $100 billion.
 
Iraq’s foreign reserves are managed in accordance with thoroughly planned policies
based on
     highly secure standards and
     invested in safe financial products
that yield appropriate returns, according to Younis.
 
The CBI disclosed last month that its
official reserves fell by more than 11 trillion Iraqi dinars ($8.39 billion) in a single year.
 
Foreign reserves provide comprehensive coverage of the monetary base,
as well as financial indicators including trade and foreign obligations.
 
Iraq, the world’s fifth-largest oil producer,
can quickly and effectively increase its foreign exchange reserves
due to consistent international financial flows.      
https://www.iraqinews.com/iraq/iraqs-foreign-exchange-reserves-decline/

 Iraq Seeks A Balance That Avoids Escalation Between Iran And Israel.

June 17, 2025  Baghdad (AFP) - Iranian drones and missiles, as well as Israeli fighter jets, are crossing Iraqi airspace, a situation that is forcing Baghdad to redouble its efforts to maintain a delicate balance and prevent the country from slipping into a new regional conflict.

"There is a great risk that the escalation will spread to Iraq," political analyst Sajjad Jiyad told AFP.

Iraq has long been an arena for regional conflicts, which is currently raising concerns that it could slide into the throes of war between Iran and Israel.

US forces are stationed in Iraq as part of the US-led international coalition fighting ISIS. However, armed Iraqi groups affiliated with the Iranian-led "Axis of Resistance" are also present, and have previously targeted US forces.

During US President Donald Trump's first presidential term in 2020, a US drone killed Major General Qassem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guard Corps, in Baghdad.

Amid the ongoing conflict between Iran and Israel, the country that receives the largest amount of US military aid, attention is turning to these Iraqi armed factions that have so far remained uninvolved.

But for how long?

Political analyst Tamer Badawi believes that "the more Iran struggles to maintain its firepower in the face of Israel, the greater the likelihood of involvement" of pro-Iranian Iraqi armed groups.

He added, "Iran is trying to spare its network collateral damage by keeping its regional allies on alert. However, this position could change."

A senior Iraqi security official told AFP that "everyone" within the pro-Iranian Iraqi camp "is cooperating with the government to keep Iraq out of the conflict."

- American "response"? -

Baghdad has been working for years to reconcile its strong alliance with its neighbor, Iran, a regional heavyweight with which it shares a long border and political, economic, and cultural ties, and its strategic and military partnership with Washington, which opposes Iran's nuclear program.

At dawn on Friday, Israel launched a large-scale attack, targeting military and nuclear sites in Iran in particular. Iran responded hours later with missile and drone strikes against the Jewish state. The exchange of fire between the two countries continues and expands.

The Iraqi government called on Washington to "prevent" Israeli aircraft "from repeatedly violating Iraqi airspace and carrying out attacks" on Iran.

The violation of Iraqi airspace angered pro-Iranian Iraqi factions, who accused US forces in Iraq of allowing it.

While the Secretary-General of the Hezbollah Brigades, Abu Hussein al-Hamidawi, affirmed in a statement on Sunday that Iran "does not need any military support from anyone to deter the criminal Zionist entity," he said, "We are closely monitoring the movements of the American enemy army in the region."

He added, "If America intervenes in the war, we will act directly against its interests and bases spread throughout the region without hesitation."

"We once again call on the Iraqi government to protect US diplomatic missions and military personnel present in the country at the request of the Iraqi government," a US official told AFP.

He added, refusing to reveal his name, "Iraq will be more stable and sovereign through its energy independence and distancing itself from harmful Iranian influence," referring to the import of Iranian gas to power Iraq's power plants.

The official also condemned the "violent and destabilizing" activities carried out by "Iran-backed militias."

Sajad Jiyad believes that “if Iran confirms that the United States (…) supports Israel in its attacks against Iran, this could prompt pro-Iranian elements inside Iraq to target the US embassy or consulate in Erbil, or US forces and the Ain al-Assad base,” where the international coalition is stationed in western Iraq to combat ISIS.

This could lead to a "US response inside Iraq, targeting these pro-Iranian groups, as well as a direct attack from Israel."

- "The Godfather" -

Tensions escalated in Iraq when war broke out in the Gaza Strip following the unprecedented attack launched by Hamas against Israel on October 7, 2023. Iraqi armed factions loyal to Iran claimed responsibility for launching dozens of missiles and drones at sites in Iraq and Syria where US troops were deployed as part of the international coalition. Washington responded by bombing sites belonging to these factions.

These same groups, part of what is known as the "Islamic Resistance in Iraq," claimed responsibility for launching drones at targets in Israel. The Israeli military intercepted most of these drones, before one killed two Israeli soldiers in the occupied Syrian Golan Heights in October 2024.

Tamer Badawi believes that the Iraqi armed factions loyal to Iran "retain the ability to target Israel from western Iraq" or even "target American interests in Jordan."

However, Iraq is preparing to hold parliamentary elections at the end of this year, motivating the political class, including armed factions represented by parliamentarians, to strive to maintain stability.

A leader in the Iraqi armed factions told AFP, "We do not deny that some parties have recently become involved in political activity. It is the nature of battle that preparations are sometimes made, and it is not normal to carry a sword throughout the battle."

He added, "There is a period when the sword must be in its sheath, but that does not mean abandoning the weapon or fearing confrontation."

He pointed out that Iraqi factions consider Iran their "spiritual father," adding, "We will not leave our father to fight the battle alone." He continued, "The United States, France, and Britain stand openly with Israel... so why don't we support the Islamic Republic?" LINK

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 6-17-25

Good Morning Dinar Recaps,

Ripple v. SEC Stalls Again as Appeal Put on Hold — Here’s What’s Holding It Up

The U.S. Securities and Exchange Commission (SEC) has requested to extend the pause in its high-profile legal battle with Ripple Labs, with the next court update scheduled for August 15.

In a joint filing submitted on June 16, both parties asked the Second Circuit Court of Appeals to maintain the current hold, citing an unresolved district court issue—despite reaching a formal settlement agreement last month.

What Began as a Billion-Dollar Dispute Edges Toward Resolution

▪️ This case, launched in 2020, centers around the SEC’s accusation that Ripple illegally raised $1.3 billion through unregistered XRP sales.

▪️ A partial ruling in 2023 provided clarity: XRP sales to retail investors were not securities, but institutional sales were found to have violated securities laws.

▪️ In May 2024, the two sides reached a settlement in principle, finalized in writing on May 8. Under the agreement:

• Ripple will pay $50 million to the SEC.

• The remaining $75 million from a previous penalty will be returned to Ripple.

• The injunction blocking certain Ripple activities would be dissolved.

Settlement Hits a Wall in District Court

▪️ The agreement cannot move forward without district court approval to revise its earlier judgment.

▪️ Both parties submitted a motion requesting an indicative ruling—a legal signal from the court that it would consider modifying the judgment.

▪️ On May 15, the court denied this motion, citing a failure to meet the standard of “exceptional circumstances.”

▪️ In response, the SEC and Ripple filed a renewed motion on June 12, hoping to meet the court’s threshold. No ruling has been issued yet.

Appeals Paused, Legal Uncertainty Grows

▪️ As the legal process stalls, the SEC has asked the appeals court to continue the pause, promising an update by August 15.

▪️ The delay prolongs regulatory uncertainty as crypto firms, investors, and policymakers await further clarity on the application of U.S. securities law to digital assets.

▪️ With billions in crypto markets still in a legal grey area, this case remains a bellwether for how token sales and crypto company operations may be judged going forward.

A Waiting Game With Major Implications

While a path to resolution appears to be forming, the final outcome hinges on court approval of the settlement terms. For now, both the appeals and the Ripple-SEC agreement remain in limbo—with industry-wide consequences hanging in the balance.

@ Newshounds News™
Source: CryptoNews

~~~~~~~~~

Cardano Founder Confirms Full XRP Package in the Works Around Glacier Airdrop, XRP DeFi, and RLUSD

Charles Hoskinson has confirmed that a comprehensive XRP ecosystem integration is underway within the Cardano network, including support for the Glacier Airdrop, XRP-powered DeFi, and possible RLUSD stablecoin adoption.

The announcement signals a major shift toward cross-chain collaboration and potentially heals long-standing tensions between the Cardano and XRP communities.

Glacier Airdrop and XRP Wallet Support on Lace

▪️ A core piece of this initiative is the Glacier Airdrop, now expected in Q4 2025, which will distribute Midnight tokens—used for Cardano’s privacy-focused sidechain—to retail users across multiple chains, including XRP holders.

▪️ Hoskinson emphasized this effort is built around “cooperative economics,” prioritizing community participation over VC allocations.

▪️ The airdrop will reportedly reach over 37 million wallets, marking one of the largest cross-chain community rewards attempted in the blockchain space.

▪️ Additionally, Cardano’s Lace wallet is preparing to add native XRP support, following its successful Bitcoin integration in Lace v1.22 this past April.

“This is part of our effort to turn Lace into a true multi-chain asset manager, bridging Cardano to wider ecosystems,” Hoskinson said.

XRP DeFi Integration in Cardano’s Ecosystem

▪️ The Cardano team is actively developing infrastructure to bring XRP into its DeFi environment, focusing on:

• Cross-chain liquidity pools

• Decentralized exchanges (DEXs)

• Leveraging XRP’s speed and cost-efficiency

▪️ While still early-stage, Hoskinson suggested that Midnight, Cardano’s zero-knowledge sidechain, may play a key role as a DeFi layer for XRP, potentially offering enhanced yield opportunities.

Talks Underway for RLUSD on Cardano

▪️ In what could be a milestone for stablecoin interoperability, Ripple’s RLUSD may soon expand beyond the XRP Ledger, with discussions underway about integrating it into the Cardano network.

▪️ Hoskinson confirmed these conversations are in their early stages but said both parties “see real value” in bringing RLUSD to Cardano’s ecosystem.

• The move would expand RLUSD’s user base

• It would also boost liquidity and stability within Cardano DeFi platforms

Toward a Real XRP–Cardano Partnership

Hoskinson’s comments mark the most direct effort yet to bridge the XRP and Cardano ecosystems, historically viewed as separate and even adversarial within crypto discourse.

▪️ The proposed “XRP package” includes:

• Glacier Airdrop eligibility for XRP holders

• Lace wallet XRP support

• DeFi connectivity via Midnight

• Potential RLUSD cross-chain deployment

Though still in development, this initiative could bring two of crypto’s largest communities closer than ever—and lay the foundation for shared infrastructure, liquidity, and growth.

 @ Newshounds News™
Source: The Crypto Basic   

~~~~~~~~~

What Happens if BRICS Currency Prevails — and Why Is India Worried?

The proposed BRICS currency—championed by China and Russia—is gaining momentum as the alliance prepares for its possible launch. A mock-up bill displayed by President Putin at the last BRICS summit confirmed that plans for a new tender to rival the U.S. dollar are active and advancing.

But as excitement builds, one member is signaling sharp resistance: India. New Delhi has expressed open concerns about the impact such a currency could have on its economy—and its place in the global financial system.

India Breaks Ranks Over De-Dollarization

▪️ India is the only BRICS member to publicly oppose the de-dollarization agenda promoted by China and Russia.

▪️ This comes after former U.S. President Donald Trump warned of potential economic consequences for nations drifting away from the U.S. dollar.

▪️ While Brazil remains cautious, India has made it clear that it favors maintaining ties with Western financial institutions, rather than embracing a BRICS-led currency model.

China’s Leverage and the Belt and Road Factor

▪️ China's Belt and Road Initiative (BRI) plays a pivotal role in its influence over smaller BRICS and Global South nations.

• With billions invested in ports, railways, and infrastructure, Beijing already holds significant financial sway.

• A successful BRICS currency would only solidify China’s economic dominance across Southeast Asia and Africa.

▪️ India is particularly concerned that such a shift would give China further power to shape trade policies across the region, leaving India at a strategic disadvantage.

Rupee Vulnerability and Asymmetrical Trade

▪️ If the BRICS currency succeeds, the Indian rupee could face increased instability, especially if regional trade begins to shift away from dollar benchmarks.

▪️ India-China trade has long been imbalanced, and ongoing border disputes have only heightened mistrust.

• Indian policymakers fear that China could weaponize a BRICS currency to tip economic dynamics further in its favor.

“India recognizes the BRICS currency as a potential vehicle for Chinese dominance—not just economically, but geopolitically,” analysts note.

Modi’s Balancing Act: Contain China, Preserve Western Ties

▪️ Under Prime Minister Narendra Modi, India is pursuing a strategy to limit China’s financial rise while preserving its role within the BRICS framework.

▪️ India views continued alignment with Western financial systems as a buffer against Chinese overreach.

▪️ The government’s stance reflects a broader objective: to maintain balance in Southeast Asia and ensure that no single power—especially China—dictates the region’s financial architecture.

What’s at Stake

▪️ A successful BRICS currency could reshape global finance, potentially undermining the dollar’s dominance.

▪️ But for India, the cost could be economic instability and geopolitical disadvantage.

• A BRICS tender led by China threatens to shift the region’s center of gravity, with India forced into a reactive, rather than proactive, role.

For now, India is pushing back, hoping to reshape the conversation before a BRICS currency becomes reality.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

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Thank you Dinar Recaps

“Tidbits From TNT” Tuesday Morning 6-17-2025

TNT:

Tishwash:  Banking expert: The success of the economy requires national cooperation between the government and the Central Bank.

Banking expert Dr. Nabil Al-Abadi emphasized that "Iraq's economic future begins with reforming its financial system, and this represents the most important step toward building a modern, diversified, and stable Iraqi economy."

Al-Abadi said in a statement seen by Al-Masry on Tuesday, "Economic success requires national cooperation between the government, the Central Bank, banks, the private sector, and the international community."

He explained that "success in this path will have a tremendous multiplier effect on all aspects of the Iraqi economy, as it has contributed to attracting investment, revitalizing the private sector, creating jobs, integrating the informal economy, and combating corruption."

He explained that "the overall strategic importance of this approach lies in supporting economic diversification, as Iraq's economic vision to move away from oil cannot be implemented without a strong banking system that directs funding toward productive sectors—agriculture, industry, tourism, and technology—and contributes to attracting foreign direct investment.   link

Tishwash: Parliamentary Finance: The government is determined to prepare the financial budget schedules.

The Parliamentary Finance Committee confirmed on Thursday that the government is working on preparing budget schedules that are in line with the country's financial reality.

Committee member Atwan Al-Atwani said in a statement followed by Lakma News that "the committee discussed with the Prime Minister the preparation of the budget, and stressed the need for it to arrive before the end of the year to give legal status to government spending, both operational and investment."

He added, "The government is determined to prepare budget schedules in line with the current financial reality, given the increase in operating spending and the need for investment spending to finance projects. We look forward to the budget being presented to the House of Representatives in the coming days."

Al-Atwani pointed out that "the government is keen to secure salaries despite the annual financial deficit," noting that "the government is taking serious steps to provide alternatives to financing the budget other than oil to ensure additional resources."  link

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

Tishwash:  Iraq warns of an escalation of the war and the closure of the Strait of Hormuz: Damage will affect the global economy.

 Foreign Minister Fuad Hussein explained that the current conflict between Iran and Israel will cause significant damage to the global economy, especially if it extends to the Strait of Hormuz. During a phone call with his British counterpart, David Lammy, Hussein emphasized that Israel is violating Iraqi airspace and that the international community must take action to prevent these violations.

 Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a call from his British counterpart to discuss developments in the regional crisis and ways to de-escalate the situation.

On Monday, June 16, 2025, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a phone call from British Foreign Secretary David Lammy, during which they discussed rapid regional developments and ways to avoid escalation.

During the call, the British minister affirmed his country's support for Iraq's stability and the need to keep it neutral from any attacks or conflicts. He emphasized the importance of controlling the situation and preventing any interference by what he described as "armed groups" in the ongoing conflict. He explained that Britain has not participated in any military operations, and that it is in ongoing contact with France and Germany to coordinate positions, in addition to consulting with the American side on developments in the war.

Minister Lammy also stressed the need to return to the negotiating table regarding the nuclear program, warning of the danger of any attacks on American or British forces deployed in the region, regardless of the perpetrator. He added that the United Kingdom believes that diplomatic solutions are the only way to avoid further escalation, praising Iraq's role in this regard despite the sensitivity of its geographical location and the complexities of the regional situation.

For his part, Mr. Fuad Hussein expressed his gratitude to his British counterpart for this communication, emphasizing the importance of the British role in calming the situation, whether through European tripartite cooperation (Britain, France, and Germany) or through coordination with the United States.

The Foreign Minister pointed out that the continuation of the war would have serious repercussions for the region and the world, explaining that "there are no victors in this war," and that its continuation could cause major economic crises, particularly if it extends to the Strait of Hormuz, which could lead to a global economic crisis.

Fuad Hussein affirmed that Israel continues to violate Iraqi airspace, and that these violations constitute a blatant violation of Iraqi sovereignty and international law. He emphasized the need for the international community to take serious steps to halt these violations and work to contain the conflict.

For his part, Minister Lammy noted that closing the Strait of Hormuz would create a severe economic crisis for Britain and Europe and would lead to higher inflation rates. He emphasized the need for joint action to avoid further deterioration and resolve this crisis through political and diplomatic solutions. link

Mot:  .. Yeppers!! -- the 4th is Right around da Corner... Be Aware!!! 

Mot: NOT Funny!! -- Mr. Scott!! -- NOT Funny