Christmas Eve Coffee with MarkZ 12-24-2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good morning MarkZ and all!   Merry Christmas everyone

​​Member: What is the chance if we leave our iqd out, Santa will exchange for $$$???

Member: How long can they drag this thing out Mark?

MZ: Right now I have people who are absolutely positive it is happening this week. They are ending auctions in Iraq and I am being told it’s the 28th-which is a Saturday . I think the worst case scenario with People I know is somewhere between now and the 7th…or right after the inauguration.

MZ: Nobody knows the exact timing. Maybe 6-7 in the world may know- but we are not one of those.

Member: Banks - closing down for year end accounting purposes. Think they will RV then or wait until afterwards into 2025 for tax & Trump credit purposes?

Member: I was hoping for Christmas Day? They could send out notifications to book appts to cash in on 28 Dec

Member: Member Ariel just posted that tonight is a very logical night for RV to go.

Member: HOLLY has just reported that her sources suggest that the RV/GCR will initiate on JAN. 6th or 7th which is also Christmas to a lot of people.

MZ: Yes between here and there- I’m feeling good.

​​Member: I’m looking at January then I’ll be pleasantly surprised if sooner.

Member: Soo Iraq is doing RI then RV alone Or going with rest of countries???????!$$$$$$$$

MZ: I still think they are all going at once. I would be happy if they went alone- that would give me a chance to double dip other currencies….but no one I talk to thinks Iraq will go alone.

MZ: “Al Alaq announces the start of an era of digital transformation in Iraqi Banks.”  This is all part of their white papers r economic reforms. Al Alaq saying how successful it is and the final portion of those white papers or the monetary reform is total independence for Iraq and a stronger purchasing power of the Iraqi dinar . AKA a reinstatement of a revaluation.

Mark Z what are your thoughts on Iraq getting 10 day head start on the world, ten we go. Sounds like Iraq may have gone. Just grasping at anything at this point. We definitely need an rv

Member:  Jeff Rahm said last night it has RI in country at $7.88. Consider it a rumor.

MZ: “About 100% foreign remittances in Central Bank of Iraq sales”  What this is telling us is about $280 million is US cash and they have also used other foreign currencies to get dinar off the streets. And they have plans to end the purchases this month.

MZ: “Iraq Stock Exchange first with the volume of trading between Arab Markets”  it lonely launched a year or so ago…..but already it’s the largest trading market in the middle east. This one is huge. They are setting themselves up as a regional leader- a world leader…and what is going to be important?  They need a currency that matches the region. That rate bar is high when you look at Kuwait and Bahrain and ll the other currencies values over there.

Member: Kuwaits dinar value is around $3.40 to USD or more on a usual basis .

Member: I read an article stating that the economic growth will rise from 2.2% to 5.3% in 2025. That’s a huge jump to indicate RV

Member:  Mark is it true that Iraq has rv’d in country many times before?

MZ: At least 3 times in the 1900’s which were very substantial.

Member: (From Dinar Guru) Nader From The Mid East  I feel it's very very, we are very very very very close.  Very close.  Like very close guys.  I feel like once they stop the auctions everybody is going to be happy about it.  I think it's going to be stopping on the 28th...70% to 80% [chance].

MZ: That’s about where I am at exactly……I feel it’s about 80% to happen before Jan 1st.

MZ: “An expected rise in the dollar:  temporary shock awaits the Iraqi market”  this is talking about the end of the auctions –like Nader is saying. One thing that will solve all their worries is an upward reinstatement or revaluation close or higher than the US dollar.

MZ: And there are many here in the US and all over the world that are expecting a value change with the end of the auctions. Not just people on the internet…but folks in government and the banking world as well.

Member: I have heard contractors in Iraq getting paid at $3.91. have you heard this Mark?

MZ: I have heard from $3.47 to $3.92 from contractors.

Member: either one is exciting…..just do it Iraq.

Member: Any news on if we sign an NDA?

MZ: As of late I am hearing no NDA unless you are doing projects.

Member: how many people in the US hold dinar?

MZ: Probably less than 1%? We are a small percent of the economy but we will be able to do great things post RV

Member: Can we go multiple times to exchange?

MZ: I am told you can…but they hope you only go once.

​​Member: I can't decide if we are idiots or geniuses for doing this, but Merry Christmas from my Family to all of yours guys.

MZ: the good news is – if you wait long enough you are a genius….the bad news is –everyday before we win….people think we are idiots.  I am looking forward to the genius part.

Member: ​​In years to come- I want the story of how the RV happened at Christmas!

Member: Merry Christmas friends! May you be BLESSED beyond measure!

Member: Merry Christmas and may God bless us everyone!

MZ: I will be on at noon est tomorrow just for those who want to socialize. Merry Christmas to all.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU MARK, MODS, AND COMM FAMILY!! SEE YOU TOMORROW AT NOON EST. FOR ANOTHER GREAT PODCAST!! UNLESS SOMETHING BIG HAPPENS!!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=5V2CGL9_oCM

Iraq Economic News And Points To Ponder Tuesday AM 12-24-24

Stopping The Dollar Transfer Platform...A Calculated Step Or A Risky Adventure?
 
December 23, 2024  Baghdad/Iraq Observer  The Central Bank of Iraq is scheduled to abandon the electronic platform for dollar transfers abroad at the end of this year,  which has raised questions about whether this decision indicates the abandonment of the Iraqi Central Bank and the US Federal Bank’s mechanisms for monitoring the movement of the dollar,
 
or is it a step towards adopting a new system that may It contributes to reducing sharp fluctuations in the exchange rate and returning it to its natural levels that are consistent with the requirements of the local market and the national economy.

The electronic platform was launched in early 2023 as a new mechanism aimed at auditing dollar transfers before they are implemented, replacing the previous system that relied on auditing by the US Federal Bank after the transfers were completed, which was considered a step to enhance transparency, improve control of the movement of funds, and ensure compliance with financial laws.
 
At that time, banks, companies and merchants in Iraq faced major challenges in adapting to the new mechanism, as it required time to understand the working mechanisms and ensure compliance with the requirements.
 
However, these entities were able to adapt gradually, especially after bank employees underwent extensive training courses on using the electronic platform, which contributed to achieving full compliance with the new work procedures and ensuring the smooth flow of financial operations.
 
According to the new transfer mechanism, banking operations in dollars will be limited to banks that have international banking relationships, or what are known as “correspondent banks.”
 
Concern and reassurance
 
Both the Central Bank of Iraq and the US Federal Reserve believe that this step will contribute to strengthening oversight of remittances in a more precise and specialized manner, by restricting transactions to a limited number of banks that have high banking standards and the ability to cooperate with international banks, which aims to reduce financial risks and ensure Compliance with international controls.
 
In turn, Mustafa Akram, a researcher in financial and banking affairs, said that
 
stopping work on the electronic platform (FITR) and restricting dollar transfers to a limited number of foreign banks may pose challenges to the local banking system, indicating that
 
“this step may raise concerns about the concentration of transactions in dollars.” “In a limited range, which may lead to effects on exchange rate stability.”

Akram added to “Iraq Observer” that  “there is a need for a deeper study of the impact of these measures on competitiveness in the Iraqi banking sector, while emphasizing the importance of preserving banking sovereignty and enhancing balance in the local market.”
 
Possible bounces
 
In light of these movements, news was raised about a trend towards making a new adjustment to the exchange rate, which raised concern among economists about the potential impact of this trend on the economic process in general.
 
Experts stressed that sudden changes in monetary policy may create additional confusion in the markets and weaken confidence in the financial system.
 
For his part, economic expert Uday Al-Alawi stressed that
 
“the biggest mistake the government can make is manipulating the dollar exchange rate through sudden decisions, because this has a direct impact on the national economy and undermines investors’ confidence in the financial system.” Al-Alawi added, in a press comment, that
 
“the government’s continued making of ill-considered decisions regarding the exchange rate will lead to the erosion of international and local confidence in the Iraqi economy, which will weaken the ability to attract the investments necessary to improve the economic reality.”
 
Economists fear the possibility of some banks not included in the transfers going to meet the requirements of their customers towards the parallel market, which could lead to a return to the rise of the dollar in Iraq.   https://observeriraq.net/إيقاف-منصة-تحويلات-الدولار-خطوة-محسوب/   

An expected rise in the dollar...a “temporary shock” awaiting the Iraqi market
 
Economy | Yesterday, 19:49 |
Baghdad today - Baghdad
 
Today, Monday (December 23, 2024), the "Future Iraq" Foundation for Economic Studies and Consultations expected a rise in the dollar exchange rate during the next few days, following the Central Bank of Iraq's announcement of stopping the currency conversion window platform.
 
The head of the institution, Manar Al-Obaidi, said in a statement to “Baghdad Today” that
 
“stopping the Central Bank’s currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear.”

However, things will return to normal at the beginning of the new year.” Al-Obaidi added,
 
"This decision had been previously announced by the Central Bank,
 
but such measures, when implemented, cause a shock in the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed." He explained that
 
"the difference between the official and parallel market will remain, but it will shrink as the situation stabilizes."
 
On Tuesday (December 17, 2024), economic affairs specialist Nasser Al-Tamimi warned of a rise in the dollar exchange rates in Iraq in the coming days. Al-Tamimi told “Baghdad Today” that
 
 “there are real fears in the Iraqi market about the continued rise in dollar exchange rates after the platform was suspended by the Central Bank of Iraq,” noting that
 
“this matter will constitute a shock, especially at the beginning of the implementation of the decision and will push for a rise.” The dollar, to increase demand for it in the parallel market.” He added,
 
"After stopping the platform, most merchants, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey with dollars, in illegal ways," pointing out that
 
"this is what will push the rise and  that is why practical steps must be taken to prevent This is done by the monetary authority in the country, and urgently.”
 
On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for external transfers, while
 
indicating that placing external transfer operations and meeting requests for the dollar is on sound paths and consistent with international practices and standards. 
 
https://baghdadtoday.news/264515-ارتفاع-مرتقب-للدولار.-صدمة-مؤقتة-بانتظار-السوق-العراقي.html   

New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies
 
December 23, 2024  Baghdad/Iraq Observer  Today, Monday, the Central Bank of Iraq set new conditions for buying and selling foreign currencies.   Below is the document:  
 
https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg   
 
https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/   
 
 ~~~~~

[approximate and incomplete translation of https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg ]
 
DATE:  2024/12/22  Electronic payment companies / two accessories
Exchange and mediation companies selling and selling foreign currencies
5 / Digital payment providers
 
Due to the availability of all the requirements for appointing the agent mentioned in (Chapter Two /
First / The Requirements of the Agent) from controls
The work of the providers of digital payment services for a year 2020 and the fact that exchange companies are my category (A,B) and the mediation companies by selling and selling
Foreign currencies Venice (C) licensed from this bank and is subject to its supervision and monitoring; The following decides:
 
1- Allowing exchange companies Vinte (A,B) and mediation companies to buy and sell foreign currencies (C) Digital payment services / accessories to provide cash withdrawal service (POC) according to the following conditions:
 
1- The agency/ executor in the name of the company should be limited and not owned by natural people.
 
A- The agency's services are provided inside the company’s headquarters and its branches exclusively.
 
B- The company informs this bank when contracting with the digital payment service and providing it with a copy of the signed contract The two parties.
 
C- Closing the agency / port in the event that this bank withdraws the company's leave.
 
D- The agency's domestic payment service for the agency took a written pledge from the company wishing to contract with him not to own any
A shareholder / executive and operating outside the exchange of the exchange or mediation company.
 
2- In the event that one of the shareholders or director of the exchange and mediation companies has an agency / port in his name and works outside the headquarters

The company can integrate the agency / port with the company and allow it to transfer its ownership in the name of the company in exclusivity and inform this bank that
An exception to the blindness of this bank number (114/10/9) on 2/22/2022, which includes not transferring the ownership of agents/withdrawals outlets POC; In the event that the agent / the perpetrator wants to leave the work, the digital payment companies must end the contract and take
The appropriate procedures for them not to sell the agency's ownership and its transmission.
 
With appreciation.  https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/   

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 12-24-24

Good Morning Dinar Recaps,

RIPPLE CEO REVEALS GROWING REAL ESTATE DEMAND FOR XRP TESTING

▪️Brad Garlinghouse revealed that there has been an increase in demand for XRP not only as a payment solution within the real estate sector but also in the trade finance and insurance sectors.

▪️With the financial landscape shifting towards more efficient and secure solutions, Ripple stands at the forefront of this transformation, leveraging the advantages of XRP to enhance cross-border payment systems securely.

Ripple CEO Brad Garlinghouse has revealed that there is an increase in demand for XRP as a preferred payment solution within the real estate sector. Ripple is proactively working to boost the asset’s adoption, recognizing its potential in transforming transaction methodologies.

This growing interest is not only a testament to the efficacy of blockchain technology in facilitating seamless transactions but also highlights the evolving landscape of property sales and investments.

The real estate market has traditionally been bogged down by lengthy processes, high transaction costs, and a lack of transparency, making it a prime candidate for disruption. 

The founder identified other industries ripe for innovation, including insurance, trade finance, and identity management, in the interview shared on X by RippleLord, a Ripple enthusiast.

Ripple’s Payment Network in Real Estate

Ripple and the real estate sector stand to mutually benefit from each other, particularly as there is a growing demand from customers for Ripple’s deeper involvement in trade finance.

Ripple’s solutions have the potential to streamline processes and enhance operational efficiency, particularly in areas like global payments and title management, where inefficiencies have long hindered the real estate industry.

At the core of Ripple’s offerings is Ripple Payments, which was previously named RippleNet and utilizes advanced blockchain technology to facilitate efficient fund transfers for institutions around the world. Brad Garlinghouse emphasized that businesses are keen to explore how Ripple’s cutting-edge solutions can improve cross-border payments and minimize transaction friction. 

This need for modernization is particularly relevant today, as existing payment systems often leave users waiting weeks for transactions and facing high fees.

Ripple Payments provides a decentralized network for banks and financial institutions globally, utilizing products built on the XRP blockchain, such as xCurrent for cross-border payments and xRapid for cheap and fast transactions. 

Ripple seeks to collaborate with traditional financial institutions and real estate companies rather than replace them. Garlinghouse compares Ripple’s transformative potential to the internet’s evolution, noting its ability to change various sectors, including real estate, fundamentally.

As revealed in a CNF article, XRP’s permissionless nature and its On-Demand Liquidity (ODL) feature are particularly advantageous for real estate transactions. ODL enables international payments by using XRP to facilitate more efficient cross-border transactions.

This feature also provides instantaneous settlement, enhanced reliability, and reduced transaction costs, critical elements for real estate deals that often involve multiple currencies.

Currently, Ripple Payments supports over 55 countries and connects to more than 120 fiat currencies, simplifying the management of international transactions for real estate professionals. 

As XRP continues to gain recognition in the payments landscape, each unit is trading at $2.21, with a notable decrease of 2.94% in the last 24 hours. XRP’s trading volume of $ 11 billion has decreased by 9.30%, signaling a recent fall in market activity.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

HOW MOONPAY PLANS TO REVOLUTIONIZE CRYPTO PAYMENTS

MoonPay, a fintech company has become a major player in crypto since its launch in 2018. Led by CEO Ivan Soto Wright, the platform helps investors buy and sell cryptos as well as NFTs easily. It is like a PayPal but for cryptocurrencies. The project is capturing the spotlight as there are news about them acquiring Helio pay, a crypto payment gateway.

MoonPay Role in Crypto Space

MoonPay has launched innovative crypto payment solutions like MoonPay Balance. This is a fiat to crypto transfer tool that works seamlessly with wallets like MetaMask. Rolled out in 27 European countries last month, this feature gives users a straightforward way to interact with decentralized finance (DeFi) protocols. But the company isn’t stopping there. A potential acquisition of Helio Pay, rumored to cost $150 million, might be their next big leap.

Helio Pay Acquisition News

Helio Pay is no small name in the crypto world. The platform is like Coinbase Commerce, helping over 6,000 merchants and creators accept payments in Bitcoin, Ether, and other digital currencies. It even integrates Solana Pay into Shopify, a platform with millions of users globally. This is going to be an amazing combo as MoonPay already serves more than 20 million users in over 160 countries.

According to Eleanor Terrett from Fox Business, MoonPay is in in talks to acquire helio for about $150 million.

If this acquisition goes through, this is going to be a big thing for crypto space especially for e-commerce merchants and their users. MoonPay will get to expand its reach and e-commerce will get enhancement with its services. How great would it be if you could use crypto to buy stuff online just like using a credit card — easy and simple.

Why This Matters

This potential deal highlights MoonPay’s ambitions of making crypto transactions easier for individuals. This will reshape how businesses and users interact with cryptocurrencies. Adding Helio Pay to their portfolio would strengthen their infrastructure. This would finally bring crypto payments into the mainstream. As crypto adoption grows globally, this is the perfect time to bring such enhancements to crypto payments.

What to Expect Next

If the Helio acquisition deal is closed, this will likely spark even more innovations in the crypto payment space. The company already has a bright name because of its focus on easing the crypto payments, the new takeover will shine the name even more. It’s just a matter of time before the actual confirmation comes out.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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News, Rumors and Opinions Tuesday AM 12-24-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 24 Dec. 2024

Compiled Tues. 24 Dec. 2024 12:01 am EST by Judy Byington

Judy Note: On Mon. 23 Dec. there was no news about setting exchange/redemption appointments. As far as I know Tier4b needs to exchange before Jan. 1 2025 because that is the date the General Public will be notified that the World is free of the Cabal and (allegedly) on a new Financial System of The People.

I am convinced that the RV is coming to us very soon. Just today on Mon. 23 Dec. 2024 the Iraq Bank of International Trade opened it’s doors. That means the Kingpin of the GCR – the Iraqi Dinar – is international. Think about the implications of that.

I am taking a much needed break and this will be my last Update until after the holidays, unless, of course, Tier4b (us, the Internet Group) receives news about setting our exchange/redemption appointments. If so, I will immediately send out an Update.

I wish you all a very Merry Christmas with a glorious New Year of Freedom from the Cabal.

~~~~~~~~~~

Possible Timing:

On Sat. 14 Dec. 2024 Debt Forgiveness & Wealth Redistribution (allegedly)  Began: millions worldwide reported canceled mortgages, student loans, and credit card debts. Official encrypted messages confirm this is just the beginning.

Sun. 15 Dec. 2024: The beginning of the new Restored Republic Fiscal Year. (allegedly)  

Mon. 16 Dec. 2024: Banks began (allegedly)  changing over to the new financial system as the Global Currency Reset (allegedly)  rolled out.

Tues. 17 Dec. 2024: XRP, RLUSD, Iraqi Dinar went public. Redemption Centers (allegedly)  became fully operational. Banking Systems were (allegedly)  beginning to process the new gold/ asset-backed US Treasury Note (USTN).

Wed. 18 Dec. 2024: Beginning of Global Financial Collapse. …G***o TV on Telegram Tues. 3 Dec. 2024

Mon. 23 Dec. 2024 Trade Bank of Iraq went International.

Thurs. 26 Dec. 2024: Announcement of the Global Restoration Plan. Every citizen will receive information about the new economic and legal structures. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Mon. 30 Dec. 2024: Final stages of the transition to the new financial system (allegedly)  completed. People will (allegedly)  begin to access their revalued currencies and debt relief programs. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

By Tues. 31 Dec. 2024, Redemption Centers will (allegedly)  be open to the general public.

Wed. 1 Jan. 2025: Basil 4 compliance deadline January 2025 – all banks have to (allegedly)  prove the money they have in their vault is backed by gold. A new era of Freedom and Prosperity officially begins. …Mr. Pool, Julian Assange on Telegram Wed. 4 Dec. 2024

Early Jan. 2025: The EBS is set to begin ten days of Communication Darkness.

Wed. 1 Jan. 2025: The R&R payments and Social Security increases will(allegedly)   begin.

Fri. 3 Jan. 2025: Global Unity announced as former Alliances restructure. Leaders will present plans for long term peace and cooperation across nations. …Nesara/Gesara on Telegram 5 Dec. 2024

Sun. 5 Jan. 2025: Release of (allegedly)  advanced technologies previously suppressed. Free energy devices, healing technologies and environmental restoration tools will be made (allegedly)  available to the public. …Nesara/Gesara on Telegram 5 Dec. 2024

Mon. 6 Jan. 2025: The Quantum Financial System (QFS) will officially(allegedly)   be activated Worldwide. This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all …Nesara/Gesara on Telegram 5 Dec. 2024

End of March 2025: The US Fiat Dollar will be(allegedly)   phased out, no longer worth anything.

~~~~~~~~~~~~

Global Financial Crisis:

Mon. 23 Dec. 2024 Dow Hit With Sledgehammer: https://finance.yahoo.com/news/the-dow-gets-hit-with-a-sledgehammer–how-worried-should-you-be-133022256.html

Read full post here:  https://dinarchronicles.com/2024/12/24/restored-republic-via-a-gcr-update-as-of-december-24-2024/

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

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow.  I'm excited because they're stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value...

Jeff   The second half of December was a very critical period to Iraq.  Why?  During the second half of December is when Iraq pauses and suspends their credit and lending practices which work off the value of the country's currency.  If Iraq is going change the value of their currency, they would need to pause and suspend credit and lending practices.  That's why it's important.

"Right Now, Things Are So Out Of Whack It's INSANE" - Mike Maloney

12-23-2024

Are we on the brink of a severe recession—or could the markets somehow keep soaring? In this eye-opening discussion, Mike Maloney and Alan Hibbard unveil the key data points that have signaled every modern recession without fail.

From year-over-year employment metrics to the notorious yield curve inversion, you’ll see why they believe “things are so out of whack it’s insane.”

Plus, learn about the “Blood Indicator,” a little-known composite gauge that’s flashing red, and find out why the Federal Reserve’s early rate cuts could be a sign that they see something lurking just around the corner.

What You’ll Learn:

Which employment trends pinpoint recessions with startling accuracy

Why today’s yield curve inversion is historically deep—and what it means How consumer sentiment is plunging to record lows

The “Blood Indicator” that’s never been wrong Why the Fed’s rate cuts suggest they’re bracing for impact

Whether you’re a seasoned investor or just waking up to the economic storm clouds, this is the data you can’t afford to ignore. Buckle up—something big could be around the corner.

https://www.youtube.com/watch?v=BzmOtc_GmG0

MilitiaMan & Crew-Iraq Dinar News-Electronic Payment for Economic Activities-No Cash-JP Morgan support-And more

MilitiaMan & Crew-Iraq Dinar News-Electronic Payment for Economic Activities-No Cash-JP Morgan support-And more

12-23-2024

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=ahHPUpUhXlY

Iraq News Highlights and Points to Ponder Monday Evening 12-23-24

Expected Rise In The Dollar... "Temporary Shock" Awaits The Iraqi Market

Economy |Today  Baghdad Today – Baghdad  The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations expected, today, Monday, December 23, 2024, an increase in the dollar exchange rate during the next few days, following the announcement by the Central Bank of Iraq to stop the currency transfer window platform.

The head of the institution, Manar Al-Obaidi, said in a statement to "Baghdad Today", that "the suspension of the Central Bank's currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear, but things will return to normal with the beginning of the new year."

Al-Obaidi added, "This decision had been previously announced by the Central Bank, but such measures, when implemented, cause a shock to the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed."

He explained that "the difference between the official and parallel markets will remain, but it will shrink as the situation stabilizes."

Economic expert Nasser Al-Tamimi warned, on Tuesday (December 17, 2024), of a rise in the dollar exchange rate in Iraq in the coming days.

Al-Tamimi told Baghdad Today, "There are real fears in the Iraqi market of the continued rise in the dollar exchange rate after the Central Bank of Iraq stopped working on the platform," indicating that "this matter will constitute a shock, especially at the beginning of implementing the decision and will lead to a rise in the dollar, to increase demand for it in the parallel market."

He added that "after the platform is stopped, most traders, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey in dollars, through illegal means," noting that "this is what will lead to the rise, and therefore practical steps must be taken to prevent this by the country's monetary authority, and urgently."

The Central Bank of Iraq revealed on Wednesday (September 4, 2024) the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths and consistent with international practices and standards.  LINK

Parliamentary Committee: Iraq Is Heading Towards A Major Investment And Economic Boom

Economy |Today,  Baghdad Today – Baghdad  The Parliamentary Investment and Development Committee confirmed, today, Monday, December 23, 2024, that Iraq is heading towards a major investment and economic boom during the next stage.                                                                                                                                   

Mohammed Radhi told Baghdad Today, "The stability achieved at the political, security and governmental levels will lead to important and large investment opportunities during the next phase, and this will generate great prosperity at the economic level, and this will lead to an important construction leap in various infrastructures."

Radhi added, "The Iraqi government has achieved successes in the investment file and strengthening the economic and financial conditions, and these successes have been positively reflected in the services, reconstruction and development file, and the next stage will show these successes more clearly through investment and economic prosperity at various levels."

In April 2024, the International Monetary Fund expected the Iraqi economy to grow by 1.4% in 2024 and 5.3% in 2025, and urged structural reforms and debt stabilization.

The Iraqi government also announced a decrease in unemployment from (16.5%) to (14.4%), a reduction in the poverty rate from (23%) to (17%), a decrease in the inflation rate from (6.1%) in 2021 to (2.5%), and an increase in non-oil revenues to (14%), after representing (7%) of the budget.  LINK

Europe 'Displeased' With Trade Volume With Iraq

Money and business  Economy News – Baghdad  The European Union renewed its confidence in Iraq's calm and successful diplomatic steps in light of the tensions witnessed in the region and the world, stressing that the partnership with Iraq is intensive and built on trust.

While he indicated that he is following up and discussing with the government of Mohammed Shia al-Sudani the best ways to implement the vital "Development Road" project for the region and the world, he announced that the (27) member states of the Union, in light of the improvement witnessed by Iraq, are discussing how to facilitate the entry of Iraqis into it, especially for the sake of the economy and academic exchange. 

The EU Ambassador to Iraq, Thomas Seiler, said: “The partnership between the EU and Iraq is intense and built on trust, and there is cooperation in many areas, especially with regard to modernizing the state and democracy, and reintegrating Iraq into the international system in terms of international rules and standards, such as the World Trade Organization.”

 Trade and investment

Sayler expressed his hope for increasing trade and investment exchange with Iraq.[/rtl]

He pointed out that "the volume of trade exchange between the European Union and Iraq is not sufficient yet, it is not even half the volume of Iraq's trade balance with China," stressing that "increasing bilateral trade and European investments in Iraq is one of our main policy goals in 2025."

 Iraq's diplomacy

Regarding regional and global developments, he explained that "the European Union is in continuous consultations with the Iraqi government on regional developments, and we exchange views and try to work together to face challenges, especially the situation in Syria now," expressing "the European Union's great appreciation for the successful position of the Iraqi government to calm tensions."

He also noted that "it is certain that the Iraqi consultations with Iran regarding the security situation in the region have a positive impact," stressing that "no issue in the region can be resolved through violence, but only through diplomacy and dialogue."

European visas

Regarding entry visas for Iraqis to the European Union, Sailer explained that "this is the responsibility of the twenty-seven member states of the European Union," stressing that "the European Union is aware of the increasing positive development of the security situation in Iraq."

We are working with member states to find out how to facilitate the entry of Iraqis, especially for economic and academic exchange," he added.

 Development path

The EU ambassador concluded his remarks to Al-Sabah by saying: “For the European Union, the (Iraqi Development Road) project is a major infrastructure project for the entire region,” indicating that “the Union is actively participating with the Iraqi government and with Turkey to find out the best ways to implement the project, as well as with the participation of the Kurdistan Region of Iraq,” and he stressed that “European companies are working in (the Grand Faw Port) and we want to expand our cooperation.”  139 views  12/23/2024 - https://economy-news.net/content.php?id=51192

During 2025.. Cautious Anticipation Of The Economic And Financial Reality In Iraq

Baghdad Today – Baghdad  WEconomic expert Ahmed Al-Tamimi confirmed today, Sunday (December 22, 2024), that Iraq is heading towards a cautious situation regarding its economic and financial situation during the year 2025.

Al-Tamimi told Baghdad Today: “Expectations and data confirm that Iraq is facing hot events at the beginning of the new year, and these events will have repercussions and reflections on the country’s financial and economic reality, especially with the imminent assumption of the presidency of the White House by US President-elect Donald Trump, and the fear of imposing some sanctions and financial tightening on Iraq in order to limit the smuggling of the dollar as well as limiting the Iranian role through these economic pressures.”

He added, "There is extreme caution regarding the financial and economic reality of Iraq at the beginning of the new year, especially since the Iraqi economic situation is greatly affected by any security or political event, and for this reason everyone is anticipating the coming days, and this matter has led to a decline in the buying and selling of real estate and other valuable items, for fear of any expected economic and financial shock."

The Parliamentary Finance Committee confirmed last Monday that the situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market, noting that “the government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating situation in Syria.”  LINK

5 Toxic Money Habits You Should Stop Right Now

5 Toxic Money Habits You Should Stop Right Now, According to Financial YouTuber Tae Kim

John Schmoll  Sun, December 22, 2024  GOBankingRates

Managing your finances takes work and commitment. Unfortunately, it’s far too easy to betray our goals through inaction or following certain toxic money habits. In some cases, you may need to get out of your own way and determine actionable goals.

Finance YouTuber Tae Kim concurs, acknowledging that some habits hold us back while others benefit us in his YouTube Video.

These are five bad money habits Kim said Americans need to quit.

Blindly Imitating People Around You

People are social creatures and it’s easy to want to follow those around us. This can be incredibly toxic when you apply it to personal finances. We all have different goals, and blindly following the goals of others can leave you open to costly mistakes.

“Just because our friends spend on fancy cars doesn’t mean we have to. Your money values might prioritize different things,” Kim said.

Instead of merely accepting the goals of your friends, ask yourself what you want, then apply that to spending.

Believing You Can’t

It’s easy to assume that it’s only people with letters behind their names that can succeed with money. That is not true, and following this philosophy can leave people open to making poor financial decisions.

You don’t need an MBA in finance to grow wealth or keep spending in check. “Money is like any other skill you can learn,” said Kim.

You simply need to start with something, such as tracking spending. This knowledge helps eradicate fear and breeds confidence that success is possible. Thankfully, there’s an abundance of free tools available online to help you learn how to manage your finances effectively.

Living in Fear

Fear is a debilitating emotion and is one of the worst toxic money fears. It holds people back from taking action to attack goals. As Kim noted, healthy fear has a time and place but it shouldn’t consume our lives or hold us back.

This can be true with investing. A recent poll from Allianz Life revealed that 53% of Americans were hesitant to invest additional money in the stock market for the foreseeable future. That fear may prevent potential losses, but it also prevents potential gains that may greatly benefit their retirement portfolios.

Losing Track of Your Goals

TO READ MORE:  https://www.yahoo.com/finance/news/5-toxic-money-habits-stop-140232413.html

FRANK26….12-23-24…….12-31-24…STOP

KTFA

Monday Night Conference Call

FRANK26….12-23-24…….12-31-24…STOP

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=bqX0VzDWBXs

Licensed Counterfeiter? Fed’s Role in America’s Economic Crisis | Peter St Onge

Licensed Counterfeiter? Fed’s Role in America’s Economic Crisis | Peter St Onge

Kitco News:  12-23-2024

What if ending the Federal Reserve was not just a wild idea but a clear path to economic freedom? Economist Peter St. Onge of the Heritage Foundation laid out his bold vision for a world without the Fed in an interview with Jeremy Szafron, Anchor at Kitco News.

St Onge explained how dismantling the central bank could bring an end to inflation, eliminate recessions, and reinvigorate the U.S. economy.

Drawing on history, St. Onge highlighted that America thrived for 140 years without a central bank and argued that returning to a gold-backed currency is not just possible, but essential.

St. Onge also tackled the broader implications of de-dollarization, the rise of Bitcoin as "digital gold," and the impact of Trump-era policies on monetary stability.

With predictions for 2025, he explored whether the U.S. is already in a recession and how alternative financial systems like Bitcoin could reshape global economies.

This interview delivers deep insights into the Fed's role in modern economics and presents a radical alternative to the status quo.

00:00 Introduction

01:03 FOMC Policy Meeting Insights

01:45 Inflation and Economic Concerns

03:21 Trump's Economic Policies and Their Impact

 06:14 Recession Fears and Economic Outlook

 09:40 The Argument for Ending the Fed

 15:30 Legal and Practical Steps to End the Fed

17:46 The Future of the U.S. Dollar

 19:27 Global Government Spending Post-COVID

19:43 The Future of the U.S. Dollar and Fiat Currencies

20:39 Gold Reserves and Fort Knox Mysteries

 22:27 The Gold Standard and Historical Context

 23:54 Potential Changes to the Federal Reserve

26:45 Bitcoin and Gold as Strategic Reserves

27:48 The Role of Elon Musk and DOGE in Government

 29:47 Mainstream Media and Political Dynamics

 34:15 Gold and Bitcoin Market Predictions

37:46 General Market Outlook and Investment Advice

 39:08 Conclusion

https://www.youtube.com/watch?v=_UCD8M_Uhv0

More News, Rumors and Opinions Monday PM 12-23-2024

DJ:  DID YOU KNOW?

As we watch for the GCR, consider what currency would have to look like for the concept behind the GCR to be effective. The perfect currency would exhibit attributes that ensure seamless functionality in the global economy, stability in valuation, universal acceptability, and public confidence.

 Its design would integrate technological innovation, economic principles, and social trust to overcome the limitations of existing currencies.

The currency must be globally accepted to facilitate international trade and reduce the inefficiencies of currency conversion. A universal ledger system, such as a blockchain, could support this, enabling real-time, transparent transactions across borders.

Stability would be essential to prevent inflation or deflation from disrupting economic activities. A perfect currency should be pegged to a diversified basket of assets, including commodities, equities, and global economic indicators, to mitigate fluctuations arising from localized economic issues.

Public confidence in the currency hinges on transparency, security, and governance. A decentralized system, governed by an impartial and algorithmically controlled entity rather than a single nation or private institution, would enhance trust. Advanced cryptographic measures would secure the system against fraud and cyberattacks.

This ideal currency would have to seamlessly flow through the financial system, minimizing transaction costs and delays. Digital form, supported by distributed ledger technology, would allow instantaneous settlements and efficient tracking, reducing the need for intermediaries and clearinghouses, while allowing to transact privately for personal security, but the system must also include mechanisms to prevent illicit activities.

 This can be achieved through cryptographic techniques like zero-knowledge proofs. To do this the currency would have to be programmable, allowing for smart contracts to automate trade, enforce agreements, and optimize financial processes. This would lower operational costs and streamline global trade operations.

The currency would have to be able to circulate via a digital, decentralized infrastructure maintained by a network of nodes (blockchain) distributed globally. Transactions would be validated through a consensus mechanism, such as proof-of-stake, ensuring energy efficiency and scalability. Financial institutions would serve as facilitators, providing liquidity and converting existing assets into the new currency.

Currency values would have to reflect a balance of real-time economic indicators, supply and demand, and technological advancements. For global trade, this currency would eliminate exchange rate risks and reduce transaction frictions, encouraging equitable and efficient trade among nations. While the perfect currency as described could endure for many generations, 0n going adjustments would likely still be necessary to adapt to evolving societal, technological, and economic conditions.

These proposed attributes create a solid foundation for long-term sustainability. A decentralized and programmable nature would allow it to evolve without being tied to the political or economic fluctuations of any single nation or entity.

Additionally, linking its value to a diversified basket of assets reduces the risk of systemic collapse due to localized economic crises.

For the theoretical “perfect currency,” a combination of asset-backed and fiat currency principles would likely be the optimal choice.

This ideal currency could endure for generations as a cornerstone of the global economy. But its longevity would depend on its ability to adapt through ongoing refinement and innovation. Just as biological evolution allows species to survive environmental changes, a currency must evolve in response to technological, economic, and social shifts.

With a foundation designed for adaptability. A “Hybrid” type of currency seems the logical alternative. A hybrid currency that combines asset backing for stability and fiat flexibility for adaptability would be the most suitable for the described scenario. It would provide the confidence and security of tangible value while maintaining the liquidity and responsiveness needed for dynamic global trade and modern economic demands.

So while waiting for a GCR, contemplate the above scenario. If you have been watching we see most of the mechanisms above being enacted in real time. It’s like you’ve been dating for 15 years, close but not exactly ready to get engaged.

DJ

https://dinarchronicles.com/2024/12/22/the-office-of-poofness-weekly-report-update-from-poof-and-dj-12-22-24/

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

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  The word 'shock' is not being just used freely.  It is specific to what is about to happen to [the] monetary reform.   Once those auctions stop, many Iraqi citizens will start to ask more questions.  It will shock most of the citizens that don't know what's going on.  It will shock parliament.  It will shock the international markets as it travels in a basket.  That shock wave that will restructure global finances and the American dollar will be put back on top as the ruler of all currencies on this planet.  Mark my words.

Yada   ...the contractors received their exchanges, Iraq has removed all the corruption, ISIS, and now they have digital banking in the banks taking the control of the money out of the hands of the CBI.   The amendment for the rate changes was done last weekend and the Iraqi people know the rate is changing AND the banks in Iraq are operating with the basket of currencies for international business as we speak.

Global Currency Crisis Begins As Brazil Panic Sells $17 Billion USD In Urgent Rescue

Sean Foo:  12-23-2024

Brazil's recent currency collapse is a reminder to the world - a stronger US dollar is bad for the world. As Trump escalates his tariff war on the world, we are dangerously moving towards a global currency crisis. Here's what you must know.

Timestamps & Chapters:

0:00 Brazil's Currency Crisis

2:49 Why The Collapse Happened

5:45 New Big Risk Coming!

8:33 US Dollar Wrecking Ball

 10:16 Fuel For De-Dollarization

13:01 Asia's USD Shock

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

Iraq Economic News And Points To Ponder Late Monday Afternoon 12-23-24

Central Bank Policy In Light Of Banking Compliance With International Standards Between The Controversy Of Expectations And Requirements

Dr. Haitham Hamid Mutlaq Al Mansour

The debate is raging about the steps taken by the Central Bank of Iraq towards the US Federal Reserve and the US Treasury, and doubts are raised that they are incorrect steps in managing monetary policy.

Other opinions even went so far as to warn of a banking collapse as a result of these agreements and what will result from them at the beginning of next year in terms of the connection of Iraqi/Arab banks with correspondent American banks. These opinions described it as confusion and error in following monetary policies that are not appropriate for the current economic situation.

Therefore, we say in this regard and warn against the incorrectness of these opinions if we take them in good faith, as the aforementioned steps and procedures are nothing but a reflection of the Central Bank's policy to support the national economy in its orientation towards establishing relations with Arab and international correspondent banks and the gradual transition to operations to enhance the advance balance of the accounts of these banks.

This is consistent with what the Central Bank of Iraq announced in 2023 in its plan to gradually reduce reliance on the electronic platform until it ends its work during 2024 and limit it to the operations of recording financial transfers for the purposes of control, auditing and analysis.

The Governor of the Central Bank has confirmed in many places that the Central Bank is determined to support Iraqi banks, enhance their capabilities and prepare them to work in accordance with international practices and agreements that aim to build and enhance the capabilities of our banks internationally.

The monetary policy measures to link the six Iraqi and Arab banks with prestigious, capable and capable international banks is exactly right and consistent with the reality of international activity and practice in import operations, currency transfer and money movement through prestigious international banks. This is because the implementation of this measure is expected to contribute to the following:

Controlling money transfer operations and identifying the final destinations to which they will reach, and thus it will be a control joint in the pre-transfer stage instead of the post-control joint.

The aforementioned linkage supports a number of our qualified banks towards raising their banking status and increasing their acceptance and global penetration, especially since most Iraqi banks suffer from administrative and organizational problems at the operational and investment levels.

Reducing the number of banks that are on the blacklists that practice informal activities that revolve around smuggling or selling dollars at the parallel price, at the expense of practicing banking activity within the limits of lending and investment. And encouraging them to rebuild their activities within the limits of real banking work.

Based on the achievement of the above points and in light of the improvement in the international position of Iraqi banks after they adopted the policy of linkage and compliance and the resulting control and reduction of dollar smuggling and money laundering operations, it is expected to be the nucleus for attracting new financial investments that can work on the development paths of leading economic sectors, and stability will be generated in the cycle of demand for the dollar and from it, stability of price levels on the medium or long-term level.

There will inevitably be a price gap that will raise inflation levels, but it will soon disappear, provided that the procedures for linking and international transfer are scientifically implemented within the terms and instructions of compliance with international standards and the necessity of achieving the above points.

Therefore, in this context, we propose several requirements to raise the ability of Iraqi banks to adhere to compliance standards, stimulate their relations with correspondent banks, and enhance confidence in their performance, including:

Adherence to modern international compliance laws and legislations issued by international regulatory institutions and authorities, including the Basel Committee and the Financial Action Task Force (FATF), which issued its forty recommendations to combat money laundering and terrorist financing.

In addition, the US decisions and laws issued by the Treasury Department represent basic conditions for compliance and constitute an ongoing state for the banking sector in the world, not just the Iraqi and Arab banking sector.

Our banks must invest in the necessary infrastructure for mega development projects such as the Development Road, and apply advanced technology that supports reaching international compliance levels.

Supporting everything that leads to deepening the effective contribution of our banks to development through issuing legal facilities and financial facilitation to support the cycle of banking capital towards foreign trade, industry and investment.

The principle of transparency in banking operations and financial reporting must be adopted to build sustainable trust with the international community, and a comprehensive national plan must be prepared to develop capabilities, training and qualification in the field of banking compliance by establishing a specialized administrative unit for this purpose.

Therefore, this linkage step is a strategic step for the monetary policy of the Central Bank of Iraq, as the size of the Iraqi banking sector’s deposits exceeds $100 billion, which is an incentive to activate the work of banks.

 In the same context, if we know that Iraq imports $70 billion worth of money, it would be more economically feasible to cover this money through a solid banking sector that opens credits and is linked to the global financial system and international institutions with efficiency and transparency.

It is concluded from the above and according to the importance of the linkage and compliance step, that the private sector must be ready to start developing and financing the national economy and achieving the desired growth. Especially after the American bank (JP Morgan) recently expressed its readiness to support Iraqi trade financing operations, which is the largest in size and solidity among global banks, and has a major role in correspondence operations between banks worldwide.

290 views   12/23/2024 - https://economy-news.net/content.php?id=51190

The Central Bank Sets New Conditions For Buying And Selling Foreign Currencies

Monday 23 December 2024 21:05 | Economic Number of readings: 57  Baghdad/ NINA /The Central Bank of Iraq set new conditions for buying and selling foreign currencies today, Monday.  https://ninanews.com/Website/News/Details?key=1176343

Globally.. Gold Prices Rise After The Dollar Declines

Time: 2024/12/23 09:20:40 Read: 1,729 times  {Economic: Al Furat News} Gold rose in spot transactions on Monday, after the dollar fell and because of the Federal Reserve’s cautious stance on cutting interest rates next year.

Spot gold rose 0.2 percent to $2,626.44 per ounce by 0313 GMT. U.S. gold futures fell 0.1 percent to $2,642.10.

The US Federal Reserve's 25 basis point interest rate cut on December 18, its dovish economic outlook note and its expectation of smaller cuts in 2025 pushed gold to its lowest since November 18 last week.

Gold rose on Friday as the US dollar and US Treasury yields fell when US economic data pointed to slowing inflation.

Spot silver rose 0.7 percent to $29.72 an ounce, platinum rose 1 percent to $935.47 and palladium added 0.2 percent to $922.31.  LINK

Central Bank's Harvest In 2024 And Its Strategic Axes In 2025

Samir Al-Nusairi  As the year 2024 draws to a close, it is clear beyond doubt that the Central Bank’s measures and efforts since the beginning of 2023 until now, with the support and cooperation of the government, have borne fruit and are beginning to yield positive results according to what was planned.

This is what was explained in detailed procedures and administrative, technical and negotiating steps with the US Federal Reserve and the US Treasury Department and understandings to regulate foreign trade financing with Arab and international banks by approving the opening of accounts for Iraqi banks in American, Chinese, European, Emirati, Indian and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which are the dollar, euro, Chinese yuan, Indian rupee, Emirati dirham, Turkish lira, Jordanian dinar and Saudi riyal,

and leaving the electronic platform in 2024 and allowing banks to supply dollars and foreign currencies into Iraq from their accounts with correspondent banks or abroad according to specific controls issued by the Central Bank, as well as reaching the opening of about 40 accounts for our banks in correspondent banks.

The Central Bank's strategy implemented in 2024 to reform the banking sector depends on restructuring, developing and classifying banks and increasing their capital to the ceiling set by the Central Bank according to the specified timeframes.

This will lead to raising the capabilities of our banks to provide the best banking products and services to customers, the economy, investment and development, and moving towards comprehensive digital transformation and compliance with international standards, and helps lift the restrictions imposed on our banks.

Therefore, it can be said that one of the most prominent achievements in the banking reform process in 2024 is that 97% of foreign transfers are made at the official exchange rate, and work is underway to facilitate foreign transfers for small traders and to identify speculators' plans to harm the Iraqi economy.

An annual inflation rate of 3.7% has also been maintained, while controlling the general price level and maintaining a foreign exchange reserve and 153 tons of gold at a rate of 140% to cover imports and local currency in circulation and provide the necessary liquidity to meet the needs of the Ministry of Finance to implement the government's operating budget.

In addition to the developmental measures for the technical, technological and administrative infrastructure of the Central Bank. This confirms that the Central Bank is accurately and comprehensively implementing its banking reform strategy in all its axes.

 It is an embodiment of what it has specified in the roadmap that it clarified in cooperation with the government according to what is stated in the government program in Axis 12 (Financial and Banking Reform) and Paragraph 7 thereof, which is concerned with developing and enabling banks to contribute to development and investment.

Here we can summarize the Central Bank’s plan in 2025 to complete its procedures, which it will work to implement with great precision, as follows:

Firstly, one of the Central Bank’s priorities is to achieve a stable financial system that is accompanied by electronic financial systems.

Second: Commitment to establishing the rules of compliance, risk management, transparency and integrity of financial operations.

Third: The transition from a cash economy to a digital economy and the accompanying cooperation and coordination measures have achieved a qualitative shift between the Iraqi government and the Central Bank of Iraq.

Fourth: Implementing the Central Bank’s plan for financial and banking reform by continuing cooperation with international consulting and auditing companies that are characterised by compliance with international standards that keep pace with global developments in the field of the financial digital economy.

Fifth: Working to strengthen international relations, including expanding the establishment of a network of relations with foreign correspondent banks and helping our banks to apply the standard criteria required of correspondent banks.

Sixth: Establishing the Riyada Bank and redirecting work in initiatives to finance small and medium enterprises according to new standards, and banks contribute to its capital and management, in line with the initiative of the Prime Minister (Riyada).

Seventh: Launching a financial inclusion strategy and putting it into effect in coordination with relevant authorities. Eighth: Implementing what is stated in the national strategy for bank lending by relying on the financial capabilities of banks and other entities in cooperation with GIZ in attracting and investing deposits and in providing the best banking products to customers and contributing to sustainable development.  Views 292  12/23/2024 - https://economy-news.net/content.php?id=51187

Head Of The Security Committee In Nineveh: The Iraqi Border With Syria Is Fully Secured

Buratha News Agency1052024-12-23   The head of the security committee in Nineveh Governorate, Abdul Qader Al-Dakhil, confirmed that the Iraqi border with Syria is fully secured thanks to the precautionary measures and the strengthening of security measures.

Al-Dakhil said in a press statement that "the borders with the Syrian side in Nineveh are completely secure thanks to the great cooperation between the citizens and the security forces, stressing that Nineveh is 100 percent safe."   https://burathanews.com/arabic/news/454214

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