Iraq Economic News and Points To Ponder Wednesday Afternoon 7-2-25
Iraqis Await The US Federal Reserve's Interest Rate Decision.
2025/07/02 Reading: 90 times {Economic: Al Furat News} Iraq is closely monitoring the US Federal Reserve's upcoming interest rate decision amid expectations it will have a direct impact on the currency market and local investments.
In this context, economic expert Salah Nouri told Furat News, "The dollar's decline as a result of inflation or interest rate cuts by the Federal Reserve usually prompts investors and central banks to seek safe havens such as gold."
Iraqis Await The US Federal Reserve's Interest Rate Decision.
2025/07/02 Reading: 90 times {Economic: Al Furat News} Iraq is closely monitoring the US Federal Reserve's upcoming interest rate decision amid expectations it will have a direct impact on the currency market and local investments.
In this context, economic expert Salah Nouri told Furat News, "The dollar's decline as a result of inflation or interest rate cuts by the Federal Reserve usually prompts investors and central banks to seek safe havens such as gold."
He added, "The Central Bank of Iraq is in a good position in terms of its investments in gold," noting that "the bank's balanced policy is to diversify investments between gold and the dollar."
Nouri explained that "this investment diversification aims to protect the Iraqi economy from global market fluctuations," adding that "Iraq is carefully awaiting the Federal Reserve's decision, given its repercussions for its financial stability." LINK
Al-Nusairi: The Central Bank Is Making Fruitful Efforts In The First Half Of 2025 To Achieve The Comprehensive Banking Reform Project.
Banks Economy News – Baghdad Economic and banking advisor Samir Al-Nusairi affirmed on Wednesday that the Central Bank's measures and efforts during the first half of 2025 were fruitful in implementing the objectives of the comprehensive banking reform project, in cooperation with the government and international consulting and auditing firms, particularly Oliver & Wyman, and the goals and initiatives of its third strategy for 2024-2026.
Al-Nusairi spoke about the challenges facing the Iraqi economy and the opportunities for reforming the banking sector within the government's framework, as well as the prospects of the Central Bank's future vision for the role of the banking sector in sustainable development.
He also spoke about the efforts currently being made to activate and revolutionize productive economic sectors other than oil, to diversify sources of national income and achieve financial sustainability, and the role of the Central Bank in regulating foreign trade financing.
Completing infrastructure projects to achieve comprehensive digital transformation and expanding the use of electronic payment tools to achieve financial inclusion.
Al-Nusairi explained that opportunities for reforming and developing the banking sector in 2025 are based on the following objectives:
First: Developing the Iraqi banking system and its compliance with international banking and accounting standards.
Second: Enhancing citizens' confidence in the banking sector locally, and internationally recognizing its transparency, progress, and strict commitment to international standards, and gaining the trust of reputable correspondent banks to deal with it.
Third: Transforming banks to their primary function, which is financing and bank lending for development. Strengthening financial inclusion and increasing its current rate as planned.
Fourth: Banks that do not provide loans and banking facilities that contribute to development, as they are the lever of sustainable development, lose their meaning as banks, which requires a specific position from the Central Bank in 2025.
Fifth: Strengthening procedures and decisions to transition from a cash economy to a digital economy and withdrawing funds outside the banking cycle and bringing them into the banking system.
He pointed out that all the above objectives, although the period specified for their implementation according to the banking reform project and the Central Bank strategy ranges between (1-4 years), what was achieved in 2023 and 2024 until 6/30/2025 constitutes ambitious percentages as announced, which led to the evaluation and classification of banks based on their achievement of the planned objectives.
There are banks moving towards the required development and banks that still need an additional period of time to achieve the objectives, and there are troubled banks that are now making exceptional efforts from the Central Bank and the administrations of these banks to rehabilitate them. 881 views https://economy-news.net/content.php?id=56859
The Association Of Private Banks To Nina: Iraq Has Made Significant Progress In Promoting Financial Inclusion...And These Are The Requirements For The Success Of International Standards.
Wednesday, July 2, 2025, | Economic Number of reads: 109 Baghdad / NINA / The Iraqi Private Banks Association confirmed: "Iraq has achieved significant progress in financial inclusion thanks to the Central Bank's commitment to implementing international standards."
The head of the association, Wadih Al-Handhal, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank of Iraq is moving forward in implementing compliance standards and enhancing financial inclusion in the banking sector, and the Banks Association also supports raising awareness of financial inclusion."
He explained that "the success of the basic requirements for implementing these standards and achieving advanced levels in combating money laundering depend on training specialized and qualified staff to use information and databases, based on the principle of knowing the customer and the sources of his funds."
He added: "The Middle East and North Africa Financial Action Task Force (MENAFATF) has transformed Iraq from a gray zone to a monitoring area, and this is true evidence that Iraq has achieved significant progress in enhancing financial inclusion and combating money laundering and terrorist financing," noting that "the need for legal legislation still exists, and we must move forward in training human cadres to keep pace with the rapid digital and technological transformation in the world."
Regarding the financial inclusion rates achieved by Iraq, Al-Handhal explained that, “according to international standards, the current financial inclusion rate in Iraq has exceeded 46% compared to previous years, which is a very significant progress with which we seek to achieve a rate of 90-95% in cooperation with the Central Bank in the near future.
The Arab Monetary Fund is also very satisfied with this rate and is following the growth of the banking sector. It considers Iraq to be implementing financial inclusion through a sound mechanism that has contributed to Iraq’s progress in ranking ahead of other countries.”/End https://ninanews.com/Website/News/Details?key=1238746
Net Foreign Investment In Iraq Declines In 2024 And The First Quarter Of 2025.
Money and Business Economy News – Baghdad Data released by the Central Bank of Iraq showed that net foreign investment in Iraq recorded a deficit of $8 billion in 2024, due to net foreign investment outflows of $7.6 billion, in addition to Iraqi investments abroad amounting to $400 million.
For the first quarter of 2025, data indicates a continued negative trend, with net outward foreign investment from Iraq exceeding $1.1 billion. This figure is broken down into:
- Net outward foreign investment of $1 billion.
- Iraqi outward investments of $133 million, registering a 21% increase compared to the last quarter of 2024.
Despite a 36% decline in net outward foreign investment, the index remains in negative territory, according to Al-Abidi. This means that investments continue to leave Iraq rather than flow into it, reflecting the ongoing challenges facing the local investment environment.
Foreign direct investment—both inward and outward—plays a vital role in Iraq's balance of payments. Along with oil sales, it represents one of the primary sources of foreign currency. The higher the investment flows, the less pressure there will be on the local market's demand for dollars and other foreign currencies.
It's worth noting that the Iraqi government had previously announced attracting $63 billion in foreign investment over the past two years, but these figures were not actually reflected in the balance of payments data.
This is likely because these projects have not yet been completed or have not entered into actual financial implementation, meaning their monetary impact on the banking and financial system has been absent. 441 views https://economy-news.net/content.php?id=56899
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com
Historical Crashes and Resets by Miles Harris
The Crash that Crafted Modern Finance
Miles Harris: 6-18-2025
Of course, the Cathedral of Santa Maria del Fiore, also known as Florence Cathedral or the Duomo, was constructed between 1296 and 1436.
Completed after the setting of this video and during Medici financed "renaissance." The imagery was important in setting the subject location in the thumbnail!
The Crash that Crafted Modern Finance
Miles Harris: 6-18-2025
Of course, the Cathedral of Santa Maria del Fiore, also known as Florence Cathedral or the Duomo, was constructed between 1296 and 1436.
Completed after the setting of this video and during Medici financed "renaissance." The imagery was important in setting the subject location in the thumbnail!
Regarding the loans to Edward III: Bell et al. in “Credit Finance in the Middle Ages: Loans to the English Crown 1272–1345” found that: “[Edward] did owe them [Bardi and Peruzzi] huge sums of money. But the true picture is more nuanced. First, when Edward issued a ‘stop’ on assigned payments from the Exchequer in May 1339, he specifically excluded those to the Bardi and Peruzzi.
Second, Edward never formally repudiated his debts and, even after the Bardi and Peruzzi had ceased to make significant advances to him, he continued to assign them sizeable repayments.
Between 1345 and 1348, after the Bardi had been dissolved, Edward paid over £23,000 to their representatives and he and his grandson Richard II continued to make occasional payments until the remaining debt was forgiven in 1391.
Third, the Bardi and Peruzzi had raised large sums of money from depositors in England, and both Edward and Richard protected them from legal proceedings brought by their English creditors.
The English kings seemed to have tried in good faith to repay the Florentine merchants, even at the expense of their own subjects.”
00:00 Intro
00:36 Florence's Financial Empire
01:27 Sovereign Lending
02:19 Collapse
03:14 Fallout
04:00 Modern Parallels
04:30 Florence Rebuilds
05:44 Key to Survival
06:04 Tangible Assets
07:04 A Crash that Crafted the Future
The Great Taking of 1350 & The Black Death
Miles Harris: June 25, 2025
The Black Death (1347–1351) was a demographic catastrophe—but for Europe’s elites, it was also a windfall.
As half the population perished, immense wealth was left behind—unclaimed, contested, or vulnerable.
Rather than disappearing, this wealth was redirected upward. Across cities like Florence and Venice, mass death became elite opportunity. Merchant families, religious institutions, and even medical authorities seized the chance to rewrite rules, bypass wills, and capture estates.
What followed wasn’t just tragedy—it was consolidation. The plague triggered a great taking.
00:00 Intro
00:54 Legalized Looting
02:15 The Cloaked Hand
03:20 Medicine or Mechanism?
05:13 Echoes Across Europe
06:16 The Peasantry that Thrived
08:10 From Death to Dynasty
The Great Reset of 1351: Plague, Profit & the Rise of Oligarchic Capitalism
Miles Harris: 7-2-2024
The Black Death of the mid-14th century was not only a demographic catastrophe but a socio-economic turning point.
While some historians argue it led to better living conditions and a more mobile workforce, a closer examination reveals a darker trajectory: one that laid the groundwork for oligarchic capitalism through land consolidation, coercive labor laws, and expanding bureaucratic power.
This is the third video in a miniseries which chronicles the years from the financial crisis in the 1340s, to the Great Taking, to the Great Reset of 1351.
00:00 Intro
00:43 Labour Scarcity meets Legal Constraint
01:54 Land, Credit & Consolidation
02:59 Enclosure & Monetization of Survival
05:52 The Rise of Bureaucratic Power
06:50 Cultural Alignments
07:42 Conclusion
Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 7-2-25
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China Increases Quota for Foreign Investments Ahead of BRICS 2025 Summit
BEIJING – July 2025 – In a strategic economic maneuver ahead of the 17th BRICS Summit in Brazil, China has raised its foreign investment quota by $3.1 billion, signaling confidence in its domestic markets and leveraging global economic shifts to strengthen its position within the BRICS alliance.
According to the State Administration of Foreign Exchange (SAFE), the quota for Qualified Domestic Institutional Investors (QDII) has been increased from $167.8 billion to $170.9 billion, effective July 1, 2025. This move comes amid a surge of institutional capital inflows and a significant drop in the U.S. dollar’s strength.
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China Increases Quota for Foreign Investments Ahead of BRICS 2025 Summit
BEIJING – July 2025 – In a strategic economic maneuver ahead of the 17th BRICS Summit in Brazil, China has raised its foreign investment quota by $3.1 billion, signaling confidence in its domestic markets and leveraging global economic shifts to strengthen its position within the BRICS alliance.
According to the State Administration of Foreign Exchange (SAFE), the quota for Qualified Domestic Institutional Investors (QDII) has been increased from $167.8 billion to $170.9 billion, effective July 1, 2025. This move comes amid a surge of institutional capital inflows and a significant drop in the U.S. dollar’s strength.
USD Weakness Drives Global Capital Toward China
China’s quota expansion is seen as a response to growing foreign interest in Chinese assets, fueled by the U.S. dollar index (DXY) falling to its lowest level in three years. The dollar has depreciated by 10.5% year-to-date, weakening demand for traditional U.S.-based financial instruments like Treasuries and bonds.
“China is capitalizing on a historic drop in the dollar’s dominance by opening the gates to more global capital,” noted a market analyst. “This quota hike sends a signal that Beijing is prepared to lead economically within BRICS.”
Even Chinese retail investors have pivoted away from U.S. stocks in 2025, favoring regional investments instead. Capital inflows from mainland China into the Hong Kong stock exchange have reached $93 billion so far this year.
Hang Seng Index Sees 23% Surge in 2025
China's increased openness to foreign capital is bolstering the Hang Seng Index, which has already jumped 23% year-to-date. Bullish investor sentiment continues to mount, positioning China’s stock market as one of the most attractive destinations for global investors in 2025.
The quota increase is widely seen as a calculated move to secure leverage at the BRICS 2025 Summit, scheduled for July 6–7 in Rio de Janeiro. As the bloc increasingly explores de-dollarization strategies and alternative trade alliances, China’s robust financial posture could prove pivotal in shaping the summit’s economic agenda.
Strategic Timing for Global Economic Influence
By expanding the QDII quota just a week before the BRICS summit, China is strengthening its influence within the alliance and paving the way for new trade deals and partnerships. The move also enhances China’s image as a resilient, investment-friendly economy, especially amid shifting global monetary dynamics.
“China’s calculated adjustment to foreign investment policy could help it emerge as the key economic force within BRICS,” said an international finance observer.
@ Newshounds News™
Source: Watcher Guru
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SEC Approves First Spot ETF with XRP Exposure
WASHINGTON, D.C. – July 2, 2025 – In a landmark regulatory move, the U.S. Securities and Exchange Commission (SEC) has officially approved the first spot Exchange-Traded Fund (ETF) with direct exposure to XRP, the native digital asset of the Ripple network.
This decision marks a historic moment for both XRP and the broader crypto industry, opening the doors for institutional and retail investors to gain regulated exposure to XRP through traditional financial markets.
XRP Enters the ETF Era
The ETF approval is the first of its kind to offer direct access to XRP’s market performance via a spot trading product—rather than futures contracts or synthetic exposure. This regulatory greenlight signals growing confidence among U.S. regulators in digital assets as viable components of diversified investment portfolios.
“This is a pivotal step for the institutional adoption of XRP,” noted a digital asset strategist. “It brings credibility and accessibility to an asset that has long battled regulatory uncertainty.”
Mainstream Finance Embraces XRP
The move follows a wave of crypto-related ETF approvals earlier this year for Bitcoin and Ethereum. However, XRP’s inclusion in this regulatory trend is especially significant, given its history of legal battles with the SEC—a lawsuit that was partially resolved in Ripple’s favor in 2023.
Now, with a spot ETF on the table, XRP is positioned to gain broader exposure among wealth managers, hedge funds, and pension portfolios seeking compliant crypto investments.
The market implications could be substantial, as ETF inflows often act as a tailwind for underlying assets by increasing demand and liquidity.
Momentum Toward Crypto Market Maturity
The XRP ETF approval highlights the SEC’s evolving stance on digital assets, suggesting further regulatory clarity and market maturity are on the horizon. As traditional finance increasingly converges with blockchain-based assets, products like the XRP spot ETF help bridge the gap between legacy finance and Web3 innovation.
“We’re witnessing the normalization of crypto within the financial system,” said a fintech policy analyst. “XRP’s ETF listing is not just a win for Ripple—it’s a milestone for the entire asset class.”
The ETF is expected to begin trading in the coming weeks, with more details forthcoming regarding its issuer, custodial arrangements, and ticker symbol.
@ Newshounds News™
Source: KuCoin News
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Monetary Reset is 'Already Here' as GOLD Reserves EXPLODE Globally
Monetary Reset is 'Already Here' as GOLD Reserves EXPLODE Globally
VRIC Media: 7-1-2025
Mario Innecco and Taylor Kenney are seeing signs that a global monetary reset involving gold isn't some distant event on the horizon, but rather is already unfolding, as central banks continue to accumulate the metal at a breakneck speed, and the US dollar plunges into oblivion.
The duo discuss why we might need to see massive pain as the fiat experiment collapses, before we can come out on the other side with renewed hope in the form of a sound money economy.
Monetary Reset is 'Already Here' as GOLD Reserves EXPLODE Globally
VRIC Media: 7-1-2025
Mario Innecco and Taylor Kenney are seeing signs that a global monetary reset involving gold isn't some distant event on the horizon, but rather is already unfolding, as central banks continue to accumulate the metal at a breakneck speed, and the US dollar plunges into oblivion.
The duo discuss why we might need to see massive pain as the fiat experiment collapses, before we can come out on the other side with renewed hope in the form of a sound money economy.
A significant shift is underway in the global monetary landscape, with central banks around the world accumulating gold reserves at an unprecedented rate.
According to Mario Innecco and Taylor Kenney, who recently joined VRIC Media for a discussion, this trend is not just a sign of a potential future event, but rather a indication that a global monetary reset is already in progress.
The accumulation of gold reserves by central banks is a notable development, as it suggests a growing loss of confidence in fiat currencies, particularly the US dollar. As the value of the dollar continues to decline, central banks are seeking to diversify their reserves and hedge against potential economic instability.
Gold, with its historical reputation as a store of value and a safe-haven asset, is becoming an increasingly attractive option.
Innecco and Kenney argue that the current fiat currency system is unsustainable and that a collapse is inevitable. They believe that the massive accumulation of debt and the unchecked printing of money have created a fragile economic environment that is ripe for a reset.
The question is not if, but when, the system will collapse, and what will replace it.
The duo suggests that the transition to a new monetary system, one that is based on sound money and backed by gold, will not be without pain.
The collapse of the fiat experiment will likely be accompanied by significant economic disruption, including potential hyperinflation, currency devaluation, and widespread financial instability. However, they also believe that this pain is necessary for the global economy to reset and rebuild on a more stable foundation.
The rise of gold reserves is just one sign of the shifting monetary landscape.
Other indicators, such as the growth of alternative currencies and the increasing popularity of gold-backed assets, also point to a growing desire for sound money and a move away from fiat currencies.
As the global economy navigates this transition, it is essential for investors and individuals to be aware of the potential risks and opportunities. Innecco and Kenney’s discussion with VRIC Media provides valuable insights into the current state of the global monetary system and the potential implications of a reset.
By watching the full video discussion, viewers can gain a deeper understanding of the factors driving this shift and how to position themselves for the future.
In conclusion, the explosion of gold reserves globally is a significant sign that a global monetary reset is already underway.
As the fiat currency system continues to show signs of strain, central banks and investors are turning to gold as a safe-haven asset and a store of value. While the transition to a new monetary system will likely be painful, it also presents an opportunity for the global economy to reset and rebuild on a more stable foundation.
By staying informed and adapting to the changing monetary landscape, individuals and investors can navigate this transition and emerge stronger on the other side.
00:00 Introduction
00:42 War in Middle East and Precious Metals
05:49 Weakness in US Dollar
09:01 Gold and a Monetary Reset
14:19 Increased Central Bank Gold Buying
18:26 When is it Time to Sell Gold?
23:04 Collapse of the Fiat Experiment
27:45 Recent Price Action in Silver
31:11 Silver Buying in the West
U.S. Dollar To Stay Under Pressure From Tariff, Debt And Rate Cut Expectations
U.S. Dollar To Stay Under Pressure From Tariff, Debt And Rate Cut Expectations
By Sarupya Ganguly Wed, July 2, 2025
BENGALURU (Reuters) -The U.S. dollar will remain weak over the coming months, a Reuters poll of FX analysts forecast, caught in a tangle of mounting U.S. debt concerns, erratic tariff policies and rising interest rate cut expectations.
Growing unease over President Donald Trump’s on-again off-again tariffs, and a tax-cut and spending bill that is expected to add $3.3 trillion to the national debt, have led to a scurry of investor outflows from dollar-denominated assets in recent months.
U.S. Dollar To Stay Under Pressure From Tariff, Debt And Rate Cut Expectations
By Sarupya Ganguly Wed, July 2, 2025
BENGALURU (Reuters) -The U.S. dollar will remain weak over the coming months, a Reuters poll of FX analysts forecast, caught in a tangle of mounting U.S. debt concerns, erratic tariff policies and rising interest rate cut expectations.
Growing unease over President Donald Trump’s on-again off-again tariffs, and a tax-cut and spending bill that is expected to add $3.3 trillion to the national debt, have led to a scurry of investor outflows from dollar-denominated assets in recent months.
A surge in the "term premium" - compensation investors demand to hold longer-term debt - has also contributed to a nearly 11% dollar decline against a basket of major currencies this year and to a three-and-a-half-year low against the euro and sterling last week.
Recent data from the Commodity Futures Trading Commission also showed the short-dollar trade was at a near two-year high, suggesting further weakness may be in the offing.
Asked how that positioning would change by end-July, more than 80% of FX analysts in a June 27-July 2 Reuters poll, 42 of 52, said it would broadly hold or net-shorts would increase.
A majority of these same FX analysts surveyed by Reuters in April and again in May had already concluded the reserve currency’s "safe haven" shine had partly eroded
"We are expecting a weaker U.S. dollar in the coming months," said Jennifer Lee, senior economist at BMO Capital Markets.
"The recent budget, the inflationary impact tariffs are going to have and what that means for the Federal Reserve, and the pointed comments President Trump is using against Fed Chair Jerome Powell - all of that doesn't bode well for the overall U.S. economic outlook at least over the rest of the year."
Trump has repeatedly demanded immediate and deep rate cuts. Powell, whose term ends in May 2026, reiterated on Tuesday the central bank's plan was to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates.
TARIFF NEGOTIATIONS
Asked what would be the main driver for the U.S. dollar over the coming month, nearly 37% of respondents, 22 of 60, said "tariff negotiations". Attention will now turn to Trump's next move after the July 9 expiry of a 90-day pause on sweeping tariffs he announced in early April.
Eighteen respondents said "interest rate differentials", which have not been important in recent months - with the euro surging while the European Central Bank was cutting rates and the Fed on hold all year.
Thirteen said "portfolio diversification", supporting findings from a June survey where a near-90% majority of FX strategists said demand for dollar assets would decline.
Seven chose "debate over Fed independence".
TO READ MORE:
https://www.yahoo.com/finance/news/u-dollar-stay-under-pressure-114858791.html
Seeds of Wisdom RV and Economic Updates Wednesday Morning 7-2-25
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Ripple and OpenPayd Partner to Deliver Enterprise-Ready Stablecoin and Payment Infrastructure
LONDON, UK – July 2, 2025 – In a landmark move for blockchain and fintech integration, Ripple has announced a strategic partnership with OpenPayd, a leading provider of financial infrastructure. The collaboration aims to deliver compliant, scalable, and efficient payment solutions for enterprise clients, bridging the gap between traditional finance and blockchain.
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Ripple and OpenPayd Partner to Deliver Enterprise-Ready Stablecoin and Payment Infrastructure
LONDON, UK – July 2, 2025 – In a landmark move for blockchain and fintech integration, Ripple has announced a strategic partnership with OpenPayd, a leading provider of financial infrastructure. The collaboration aims to deliver compliant, scalable, and efficient payment solutions for enterprise clients, bridging the gap between traditional finance and blockchain.
Unified Payment Rail for Enterprise Clients
Through the agreement, OpenPayd’s global fiat infrastructure — including real-time payment rails, multi-currency accounts, and virtual IBANs — will support Ripple Payments in EUR and GBP. Ripple Payments, the company’s cross-border payments platform, leverages blockchain and digital assets to offer fast, transparent, and reliable international transactions.
“Ripple has long been a pioneer in blockchain-based payments,” said Iana Dimitrova, Chief Executive at OpenPayd.
“By combining Ripple Payments with OpenPayd’s rail-agnostic and interoperable fiat infrastructure, we’re delivering a unified platform that simplifies global money movement and cross-border treasury management.”
Direct Access to RLUSD Stablecoin Infrastructure
The partnership also marks a major leap for stablecoin innovation. OpenPayd will enable direct minting and burning of Ripple USD (RLUSD), Ripple’s enterprise-grade, USD-denominated stablecoin. Businesses will gain seamless access to embedded accounts, payments, trading, and fiat–stablecoin conversion — all via a single API.
“The future of global finance depends on seamless interoperability between traditional infrastructure and digital assets,” said Jack McDonald, SVP of Stablecoins at Ripple.
“Our collaboration with OpenPayd gives enterprises reliable access to RLUSD, combining the stability and compliance they expect with the blockchain connectivity they need.”
Enterprise-Scale Use Cases
This combined infrastructure supports a wide range of enterprise applications, including:
Cross-border payments
Global treasury management
Dollar liquidity access at scale
Stablecoin-powered dollar operations
As demand for real-time, compliant global infrastructure grows, the partnership aims to future-proof enterprise payment strategies.
Ripple’s Global Reach
Ripple Payments now covers 90+ payout markets, representing over 90% of global daily FX volume, with more than $70 billion processed to date. The company’s secure, regulatory-compliant infrastructure positions it as a leader in providing core digital asset services for financial institutions.
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Source: Ripple Press Release
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Big Beautiful Bill Passes Without Crypto Tax Relief – Snorter Bot Emerges as Market Alternative
WASHINGTON, D.C. – July 2025 – In a narrow 51–50 vote, the U.S. Senate has passed the 'One Big Beautiful Act,' a sweeping budget reconciliation bill backed by President Donald Trump. While the legislation delivers major fiscal reforms, it notably excludes crypto tax relief, despite strong lobbying from digital asset advocates.
The bill now returns to the House of Representatives for a second vote before heading to the president’s desk. But for now, crypto tax reform is off the table — a setback for the growing number of Americans using digital currencies in everyday life.
Senate Rejects Key Crypto Tax Amendment
Among the most anticipated proposals was an amendment by Senator Cynthia Lummis, which aimed to exempt crypto transactions under $300 from capital gains tax, capped at $5,000 annually. The amendment received vocal support from Gemini co-founder Tyler Winklevoss and BTC Inc.’s David Bailey, but was ultimately left out of the final package.
“It’s still a major step in the right direction,” said Lummis, calling the broader bill a win for “working families across Wyoming.”
Despite this optimism, the lack of tax clarity leaves many retail investors wary, especially when using crypto for small, everyday purchases. The omission also increases the appeal of decentralized platforms that bypass centralized tax reporting requirements.
Snorter Bot Offers a Workaround: Fast, Low-Fee Solana Trading
In contrast to legislative inaction, innovation in crypto trading is advancing rapidly. A standout example is the upcoming launch of Snorter Bot, a Telegram-based trading tool built on Solana, offering sub-second trade speeds and industry-low fees of just 0.85%.
The bot is designed to help users:
Auto-snipe emerging tokens before they trend
Flag potential scams and honeypots
Execute trades faster than competitors like Maestro, Bonk Bot, and Banana Gun
Snorter Bot’s utility is powered by $SNORT, its native token. Holding $SNORT unlocks:
Reduced trading fees
Premium bot features
Staking rewards up to 236% APY
DAO voting rights for future platform upgrades
With over $1.4 million raised in presale since May 28, 2025, $SNORT is emerging as a powerful alternative for retail traders looking to stay agile amid regulatory limbo.
From Regulation Gridlock to On-Chain Agility
While the Senate’s decision may frustrate crypto enthusiasts, it underscores a growing reality: technology is evolving faster than regulation.
“As policymakers stall, Snorter could soon empower everyday users to make decentralized trades with unbeatable fees and real on-chain utility,” said a representative from the Snorter development team.
The project is also preparing to expand beyond Solana, eyeing major EVM-compatible chains to build a multi-chain, future-ready trading platform.
$SNORT is currently priced at $0.0971, with projections estimating a potential rise to $0.94 post-exchange listing — an 868% upside. However, as always in crypto: Do Your Own Research (DYOR) and never invest more than you’re prepared to lose.
@ Newshounds News™
Source: Bitcoinist
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“Tidbits From TNT” Wednesday Morning 7-2-2025
TNT:
Tishwash: Economist: Most of the money supply is outside banks for this reason
Economic researcher Diaa Abdul Karim believes that most of the money supply is now outside banks due to citizens' loss of confidence in the Iraqi banking system.
Abdul Karim told Al-Maalouma, “There is a lack of confidence among citizens in the existing banking system, due to fears of sanctions, bank robberies, or a collapse of the political system, which would have repercussions for the banks.”
He added, "This fear is leading citizens to turn away from banks, with most of the cash stock now stored in homes. The banking system is supposed to work to withdraw this cash and transfer it to electronic and credit cards, so that spending shifts to cards instead of cash."
TNT:
Tishwash: Economist: Most of the money supply is outside banks for this reason
Economic researcher Diaa Abdul Karim believes that most of the money supply is now outside banks due to citizens' loss of confidence in the Iraqi banking system.
Abdul Karim told Al-Maalouma, “There is a lack of confidence among citizens in the existing banking system, due to fears of sanctions, bank robberies, or a collapse of the political system, which would have repercussions for the banks.”
He added, "This fear is leading citizens to turn away from banks, with most of the cash stock now stored in homes. The banking system is supposed to work to withdraw this cash and transfer it to electronic and credit cards, so that spending shifts to cards instead of cash."
He explained that "the size of the monetary mass outside banks is estimated at more than 70 trillion dinars, and that the government's measures, although an attempt to withdraw the monetary mass, will not push citizens toward strengthening their confidence in the banking system." link
Tishwash: After failing to reach an agreement with Baghdad, a key government meeting was held in Erbil.
The Kurdistan Regional Government will hold a session tomorrow, Wednesday, to discuss the May and June salaries, while the re-export of the region's oil will be another topic of discussion.
According to information available to Al-Masry, the Kurdistan Regional Government's Council of Ministers will hold a session tomorrow to discuss the results of the region's delegation's meetings with the federal government.
The Kurdistan delegation's meetings in Baghdad over the past few days have yielded no results, despite assurances from MPs and political sources that an agreement is close to being reached on salaries and the resumption of the region's oil exports.
According to sources, the federal government is expected to send May salaries until Erbil and Baghdad reach an agreement on oil exports and the release of half of the region's oil revenues. link
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Tishwash: Al-Nusairi: The Central Bank is making fruitful efforts in the first half of 2025 to achieve the comprehensive banking reform project.
Economic and banking advisor Samir Al-Nusairi affirmed on Wednesday that the Central Bank's measures and efforts during the first half of 2025 were fruitful in implementing the objectives of the comprehensive banking reform project, in cooperation with the government and international consulting and auditing firms, particularly Oliver & Wyman, and the goals and initiatives of its third strategy for 2024-2026.
Al-Nusairi spoke about the challenges facing the Iraqi economy and the opportunities for reforming the banking sector within the government's framework, as well as the prospects of the Central Bank's future vision for the role of the banking sector in sustainable development. He also spoke about the efforts currently being made to activate and revolutionize productive economic sectors other than oil, to diversify sources of national income and achieve financial sustainability, and the role of the Central Bank in regulating foreign trade financing.
Completing infrastructure projects to achieve comprehensive digital transformation and expanding the use of electronic payment tools to achieve financial inclusion.
Al-Nusairi explained that opportunities for reforming and developing the banking sector in 2025 are based on the following objectives:
First: Developing the Iraqi banking system and its compliance with international banking and accounting standards.
Second: Enhancing citizens' confidence in the banking sector locally, and internationally recognizing its transparency, progress, and strict adherence to international standards, and gaining the trust of reputable correspondent banks to deal with it.
Third: Transforming banks to their primary function, which is financing and bank lending for development. Strengthening financial inclusion and increasing its current rate as planned.
Fourth: Banks that do not provide loans and banking facilities that contribute to development, as they are the lever of sustainable development, lose their meaning as banks, which requires a specific position from the Central Bank in 2025.
Fifth: Strengthening procedures and decisions to transition from a cash economy to a digital economy and withdrawing funds outside the banking cycle and bringing them into the banking system.
He pointed out that all the above objectives, although the period specified for their implementation according to the banking reform project and the Central Bank strategy ranges between (1-4 years), what was achieved in 2023 and 2024 until 6/30/2025 constitutes ambitious percentages as announced, which led to the evaluation and classification of banks based on their achievement of the planned objectives.
There are banks moving towards the required development and banks that still need an additional period of time to achieve the objectives, and there are troubled banks that are now making exceptional efforts from the Central Bank and the administrations of these banks to rehabilitate them. link
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MilitiaMan and Crew: Iraq Dinar- Oil & Salary file-Electronic Payments-Reduce note count
MilitiaMan and Crew: Iraq Dinar- Oil & Salary file-Electronic Payments-Reduce note count
7-1-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
BREAKTHROUGH IN IRAQ: Oil and Salary Agreements Between Baghdad and Kurdistan
In today's video, we delve into a significant development in Iraq's economic landscape as Baghdad and the Kurdistan region reach a breakthrough on the pressing oil and regional salary issues.
MilitiaMan and Crew: Iraq Dinar- Oil & Salary file-Electronic Payments-Reduce note count
7-1-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
BREAKTHROUGH IN IRAQ: Oil and Salary Agreements Between Baghdad and Kurdistan
In today's video, we delve into a significant development in Iraq's economic landscape as Baghdad and the Kurdistan region reach a breakthrough on the pressing oil and regional salary issues.
This landmark agreement marks a turning point in the relationship between the central government and the Kurdistan Regional Government, paving the way for greater financial stability and cooperation.
Adoption of Electronic Payments We explore the new move towards electronic payments aimed at reducing cash transactions. This shift not only modernizes the payment system but also enhances transparency and efficiency in financial dealings.
Comprehensive Banking Reforms Additionally, we discuss the comprehensive banking reforms being implemented, which signal potential changes in Iraq's currency, including revaluation and or a redenomination. These reforms reflect Iraq's commitment to strengthening its economy and improving the financial well-being of its citizens.
Join us as we analyze the implications of these developments for Iraq's economy, its citizens, and the broader Middle Eastern region.
Join us for an insightful discussion and expert analysis on these pressing issues.
Iraq Economic News and Points To Ponder Tuesday Afternoon 7-1-25
Central Bank Of Iraq: Foreign Exchange Reserves Sufficient To Cover 13 Months Of Imports
Money and Business The Central Bank revealed on Wednesday that Iraq's foreign currency reserves are sufficient to cover 13 months of imports. The bank said in a report that "import coverage is often viewed as a measure of the number of months that imports could be sustained if all foreign currency inflows were to cease," noting that "the global standard used is for reserves to cover all imports for six months."
Central Bank Of Iraq: Foreign Exchange Reserves Sufficient To Cover 13 Months Of Imports
Money and Business The Central Bank revealed on Wednesday that Iraq's foreign currency reserves are sufficient to cover 13 months of imports. The bank said in a report that "import coverage is often viewed as a measure of the number of months that imports could be sustained if all foreign currency inflows were to cease," noting that "the global standard used is for reserves to cover all imports for six months."
He added, "The ratio of foreign reserves to imports has decreased from 16 months at the beginning of 2024 to 13 months at the beginning of 2025," indicating that"despite the decrease in the ratio, Iraq's reserves will still cover imports for 13 months if Iraq does not receive foreign currency revenues."
views 1537 Added 06/25/2025 - 3:59 PM https://economy-news.net/content.php?id=56631
A Loophole: Iraq's Dollar Is Being Drained By Inflated Import Invoices From Three Countries.
Energy and Business 2025-06-30 05:37 Shafaq News – Baghdad The head of the Iraq Future Foundation, Manar al-Obaidi, revealed on Monday that there is an inflated invoice for importing goods to the Iraqi market from countries such as China, Turkey, and the UAE.
This is a drain on the dollar by exploiting the difference between the
official exchange rate and the
parallel market. He emphasized the
need to reform the transfer and import mechanisms.
Al-Obaidi said in a statement received by Shafaq News Agency,
"When reviewing the export data of a number of countries to Iraq, such as China, Turkey, and the UAE,
it becomes clear that there is a clear discrepancy in the values of some exported goods,
as these values do not correspond to the actual prices of the goods,
and the quantities exported often far exceed the actual needs of the Iraqi market." He continued:
"For example, the
value of Iraq's imports of Chinese shoes during the first five months of this year amounted to approximately $170 million,
while clothing imports amounted to approximately $600 million during the same period."
He explained that "these figures do not reflect either the true volume of demand in Iraq or the global prices of these goods,which strongly suggests that there are inflated invoices, both in terms of quantity and value."
He pointed out that "some parties exploited the difference in the official exchange rate versus the parallel market to conduct large-scale transfers by inflating import invoices,
allowing them to bypass all levels of scrutiny originally put in place to control transfers and
ensure they reach the legitimate recipients." Al-Obaidi explained that,
"Despite the stringent measures taken by the Central Bank of Iraq, including expanded auditing,
the current mechanism has proven in practice to be unsuccessful.
This is evident not only in countries' export data, but also in the decline in customs revenues,
which remain very modest compared to the volume of goods declared as imported."
He explained that "it is necessary to adopt a new mechanism aimed at reducing currency leakage
by linking bank transfers directly to the customs duty collection process, and not allowing transfers at the official rate until the customs duties due based on the value of the transfer have been paid." He emphasized that "this approach will achieve two main goals:
strengthening oversight of transfers conducted at the official rate, and
increasing the state's customs revenues by pricing goods in line with their true value." He pointed out that "this proposal may raise some reservations,
particularly from the
perspective of fears of a rise in the exchange rate in the parallel market as a result of tightening transfers, and the
view that such measures fall within the purview of fiscal policy, not monetary policy."
He stated that, "Despite the validity of these reservations, the significant foreign currency outflow and
declining reserves Iraq is currently experiencing as a result of uncontrolled import expansion
require exceptional measures, even if they have side effects."
He pointed out that "economic policies, by their very nature, do not produce purely positive effects, but
success lies in achieving balance and outweighing the benefits over the harms.
Therefore, reforming the transfer and import mechanism is no longer an option, but rather an urgent necessity to
ensure economic stability and protect Iraq's foreign currency reserves."
https://shafaq.com/ar/اقتصـاد/ثغرة-دولار-العراق-ي-ستنزف-عبر-تضخيم-فواتير-الاستيراد-من-3-دول
The Integrity Commission Announces Iraq's Accession To The "Beijing Initiative To Build A Clean Silk Road."
Money and Business Economy News – Baghdad The Integrity Commission announced on Tuesday that
Iraq has joined Beijing's Clean Silk Road Initiative. The Authority stated, in a statement received by "Al-Eqtisad News", that "Iraq has joined the "Beijing Clean Silk Road Initiative", indicating that
"this comes in implementation of the text of Article (3/6) of the Memorandum of Understanding concluded between the Authority and the National Supervisory Commission in the People's Republic of China." She added that
"the cooperation and coordination between the Commission and the Embassy of the People's Republic of China in Baghdad culminated in joining the initiative after completing the procedures," explaining that
"this will contribute to strengthening international relations and highlight the Commission's efforts, endeavors, activities, and achievements in the field of combating corruption." She noted that
"the National Supervisory Commission of the People's Republic of China affirmed its readiness to enhance cooperation and joint work with the Authority in the field of anti-corruption and law enforcement, to build a clean Silk Road." She noted the committee's welcome and announcement that
"Iraq has become the eighteenth country to join the initiative,
which aims to
enhance transparency, financial and intellectual cooperation,
develop governance and laws, and
enhance oversight and legal awareness, in addition to
establishing a closer network for cooperation in the field of justice and law enforcement,
exchanging expertise and information,
developing human resources,
pursuing fugitives, and
rejecting safe havens for fugitives and illicit assets." She continued,
"The initiative calls for the signing of bilateral treaties on extradition and mutual legal assistance, based on international agreements, and the exchange of information and expertise between relevant anti-corruption agencies. It also calls for launching highly effective cooperation in the field of combating corruption, enhancing self-discipline, legal awareness, and a sense of responsibility, and establishing laws to combat corruption and combat bribery, with the aim of creating a sound relationship between governments and companies." views 1647 https://economy-news.net/content.php?id=56569
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 7-1-25
Good Afternoon Dinar Recaps,
BRICS To Discuss Rare Earth Supply & Exports at 2025 Summit
The BRICS alliance will place rare earth elements (REEs) front and center at its upcoming 17th summit, scheduled for July 6–7, 2025, in Rio de Janeiro, Brazil. For the first time, the 10-member bloc will be joined by 14 partner countries to engage in a pivotal dialogue on the future of global trade, currency settlements, and strategic resource management.
Good Afternoon Dinar Recaps,
BRICS To Discuss Rare Earth Supply & Exports at 2025 Summit
The BRICS alliance will place rare earth elements (REEs) front and center at its upcoming 17th summit, scheduled for July 6–7, 2025, in Rio de Janeiro, Brazil. For the first time, the 10-member bloc will be joined by 14 partner countries to engage in a pivotal dialogue on the future of global trade, currency settlements, and strategic resource management.
China Controls the Global REE Chain
BRICS member China currently dominates the rare earth sector, controlling:
70% of the global REE supply, and
90% of the world’s refining and processing capacity.
In a bold move this year, China imposed export curbs on rare earth magnets on April 4, 2025, in direct response to U.S. tariffs imposed under President Trump.
The freeze on global supplies has significantly tightened REE markets, sparking growing international demand — and positioning China as the most influential voice heading into the BRICS summit.
Strategic Talks to Rewrite Rare Earth Trade Framework
Brazil’s BRICS Ambassador Kenneth Nobrega confirmed the summit will include REE discussions, led by China. He emphasized:
“You have to be mindful that BRICS countries together contribute a huge chunk to the world’s REEs. This has to be discussed because this is a result of trade tensions not created by BRICS countries.”
While formal negotiations have not yet begun, the talks signal BRICS’ growing strategic influence over critical global supply chains, particularly as the alliance expands its coordination across trade, energy, and currency systems.
U.S. Faces Strategic Setback Amid Trade Wars
With BRICS already controlling 42% of the world’s oil and gas, the bloc’s influence over 70% of rare earth exports underscores a major geopolitical shift. China’s expected leadership at the summit aims to empower member nations to trade REEs without relying on U.S.-centric systems — potentially deepening the global divide over trade norms.
The United States, already impacted by export freezes and retaliatory tariffs, now risks falling behind in the rare earth supply race — a sector crucial for defense, electronics, EVs, and renewable energy.
As tensions rise, the Rio summit could redefine the global power balance over the minerals that power the modern world.
@ Newshounds News™
Source: Watcher.Guru
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BRICS SUMMIT 2025 Launches Plans to Redraw Global Power
BRICS SUMMIT 2025 Launches Plans to Redraw Global Power
Taylor Kenny: 7-1-2025
At the 2025 BRICS summit, a post-dollar system is being quietly constructed—one where gold, not the Fed, sits at the center.
If you're holding U.S. assets, this isn't background noise.
It’s a global reset in motion.
BRICS SUMMIT 2025 Launches Plans to Redraw Global Power
Taylor Kenny: 7-1-2025
At the 2025 BRICS summit, a post-dollar system is being quietly constructed—one where gold, not the Fed, sits at the center.
If you're holding U.S. assets, this isn't background noise.
It’s a global reset in motion.