Seeds of Wisdom RV and Economic Updates Thursday Morning 12-26-24

Good Morning Dinar Recaps,

BRICS TO DITCH US DOLLAR FOR GOLD-BACKED CRYPTOCURRENCY

Over the last year, the BRICS bloc’s ongoing de-dollarization efforts have been a focal point. The collective has sought to limit Western hegemony and establish itself on the grander world stage. Amid its ongoing pursuits, could the BRICS bloc be in line to ditch the US dollar for a gold-backed cryptocurrency?

The economic alliance has been stashing gold reserves for much of 2024, with many believing it could be for its own trade currency. Although the bloc has affirmed that it has no interest in a native currency, it has shown a recent embrace of cryptocurrency. Both could converge on a perfect answer for its ongoing greenback dilemma.

BRICS Cryptocurrency? Why Alliance Could Build Combine Gold & Bitcoin to Take Down US Dollar

The last two years have seen the global south continue to champion the term de-dollarization. Indeed, the economic alliance has sought greater ways to limit Western economic dominance. Throughout last year, the emergence of a BRICS currency has been the focal point of that.

Now, that pursuit has taken center stage. With Donald Trump emerging victorious in the 2024 presidential election, he has threatened 100% tariffs on nations abandoning the dollar. Truthfully, that presents BRICS with one true option: double down or abandon the idea.

To this point, they have opted for the former. But it may not stay that way, as BRICS could ditch the US dollar with a gold-backed cryptocurrency. Although the bloc has not yet announced such an idea, its maneuvering does favor its presence.

For the last two years, the bloc has ferociously accumulated gold reserves. That was supposed to be for an alliance trade settlement currency. Moreover, in 2024 they have opted to dial back opposition to the cryptocurrency sector. Earlier this month, Russian President Vladimir Putin said that no one could control Bitcoin.

That appeared to show his favor of the currency. Nations like China have followed suit, with many believing both could soon embrace digital assets. With an AI and technology alliance being formed under BRICS, blockchain technology could soon be at the forefront.

That would not stop the bloc from developing its very own currency that combines both matters. It would illicit some issues with the West but would also fast-track its ongoing de-dollarization plans. Moreover, it would establish BRICS as a clear global force.

@ Newshounds News™

Source:  Watcher Guru

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What Your Bank Isn't Telling You About Using Your Debit Card

What Your Bank Isn't Telling You About Using Your Debit Card

Here's what your bank isn't telling you about using your debit card — and what savvy spenders do instead

Vawn Himmelsbach  Updated May 31, 2024  Moneywise

The use of debit cards has been prevalent in the U.S. for decades, and for good reason. They offer several advantages over other forms of payment, such as cash and checks.

However, they also have a few downsides — and knowing what these are might make you rethink how you're paying (at least in some cases).

Since 2005, the number of debit card transactions in the U.S. has exceeded the number of credit card transactions, according to data from the most recent Federal Reserve Payments Study — and that gap has been steadily increasing.

In 2021, for example, there were 87.8 billion non-prepaid debit card transactions versus 51.1 billion credit card transactions.

But what is your bank neglecting to tell you about debit cards? Here are a few things you need to be wary of.

Pros And Cons Of Debit Cards

Many people prefer the convenience of a debit card, versus carrying around cash. These days, debit cards are accepted at most retailers (while checks are only accepted at a select few), and they’re not subject to surcharges that some merchants charge for using credit cards.

Another advantage is that using debit can help to control spending. You only spend what you have, and you can easily monitor transactions since they appear in your account immediately. This can help to prevent you from racking up debt.

But there are some downsides. Most debit cards have a daily spending limit, which can be an issue if you need to make a large purchase or several small purchases in a day.

Additionally, a debit card will not help you build a credit history, and if you spend more than you have in your account, you could be charged overdraft fees. While many credit cards offer rewards for spending, this isn’t as common for debit cards.

Beware Of Phishing And Skimming

TO READ MORE: LINK

“Tidbits From TNT” Thursday Morning 12-26-2024

TNT:

Tishwash:  Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq

The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.

Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."

He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."

Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."

The price of the dollar rose gradually in local markets, where it recorded 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.  link

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Tishwash:  Government Advisor: Iraq Seeks to Establish Sovereign Wealth Fund

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is seeking to establish a sovereign wealth fund.

Saleh told Al Furat News Agency: "Iraq seeks to establish a sovereign wealth fund, especially after the conflicts and wars that have been going on for less than half a century, and the previous regime's major role in wasting the country's resources and wealth, have transformed the surplus in the current account of the balance of payments into a net deficit due to the deterioration of the national economy's export sectors, most notably the oil sector."

Saleh pointed out that "the increase in foreign debts in the past decades was an alternative to establishing a sovereign fund for foreign wealth that relies on surplus oil revenues that can be invested in a diversified investment portfolio whose returns support the state's general budget in general and the investment budget, according to the absorption capacity in particular, similar to countries such as Norway, China, the Gulf countries, and other countries of the world."

Iraq has previous experience in establishing a sovereign wealth fund, through the establishment of the Iraqi Fund for External Development, which was established under Law No. 77 of 1974. However, after that, the work of this fund was limited to managing Iraq’s financial contributions to regional and international organizations and bodies. There was also an attempt to establish two sovereign funds for Iraq in 2018, but they remained without practical implementation.

Countries' economies are divided into three categories based on their source of income: economies with diverse sources of income, economies with a single source of income (“single-basket economies”), and the third category is between them. 

Iraq falls within the second group, as Iraq is considered a rentier state, due to its almost complete dependence on revenues from the sale of crude oil, as oil revenues constitute more than “90 percent” of the total revenues of the general budget, and contribute about “45-60 percent” of the formation of the gross domestic product.  link

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Tishwash:  Parliamentary Finance Committee comments on the fluctuation of the dollar price and threatens to host the Governor of the Central Bank of Iraq

Member of the Parliamentary Finance Committee, Jamal Kocher, described on Wednesday the fluctuation of the dollar exchange rate in the parallel market as "temporary", while he indicated that if the rise continues, we will head to host the governor of the Central Bank of Iraq.

Kocher told Shafak News Agency, "The Parliamentary Finance Committee is closely following up with the Central Bank the dollar exchange rate in the parallel market, and that the rise and fall of the exchange rate is temporary and not fixed."

He added that "if the rise continues during the coming period, there will be another opinion from the House of Representatives," adding that "the Finance Committee, if the rise continues, will head to host the Governor of the Central Bank in the House of Representatives."

The Iraqi market witnessed a significant increase in the exchange rate of the dollar against the Iraqi dinar, as it exceeded 150 thousand dinars for every hundred dollars, despite the government measures taken to control its price in the parallel market.

It is noteworthy that since the beginning of 2023, Washington has intervened to limit the smuggling of dollars from Iraq, which led to its price rising in the local market to a record level of 170,000 dinars per 100 dollars, due to the decline in the Central Bank of Iraq’s sales of dollars, before it declined again and the Central Bank returned to selling dollars at auction.

It is worth noting that currency smuggling is ongoing, despite controls on banks, and is carried out via bags transported overland to Turkey and Iran, after withdrawing dollars from the local market and not through the official dollar selling window. Specialists have called it “black transfers,” and it has become a phenomenon that has not been controlled at the moment.

In addition to the "black transfers", Iraq witnessed other operations to withdraw the dollar at its official price and sell it at the parallel market price, by exploiting the dollar granted to travelers, returning to Iraq and selling it to achieve large profits. The name "sailors" was given to those who do this work, especially some travel and tourism companies.  link

Mot:  ... Dang!! -- Tough Night Hes Having fur Sure!!!

Mot: ......... How Can Ya Tell the age -----duct tape on tree box

Ariel: Iraqi Dinar update, Now this is a Merry Christmas

Ariel:  Iraqi Dinar Update, Now this is a Merry Christmas

Launched today?
No delay?
No postponement?
No July 2025?
But I thought that was what the CBI said?

Majeed:  CBI Governor LAUNCHED Today

 1-Launching strategic projects such as 1-instant payments,

2-local cards,

3- unified payment gateways.

4- Issuing regulations to license digital banks in Iraq.

5-Developing a robust technical infrastructure to support financial inclusion.

6-Enhancing cybersecurity through advanced tools and a dedicated management center.

Iraq News Update

“Now This Is A Merry Christmas”

This is a crazy development here. Totally out of left field but in the most amazing way for Iraqi citizens and the world. I knew something was brewing in the background. This can only mean one thing. Because this will definitely force their hand to act expeditiously in order to quell any potential instability in the market.

The only thing left to do is to pull the trigger anytime before January 1st

I would presume based on what just happened. I just do not see how they can survive without doing so.

When platforms facilitating currency transfers are suspended, liquidity tightens, and rumors about exchange rate fluctuations can spread rapidly. This can lead to panic in the markets as businesses and financial institutions anticipate changes.

A gap between the official exchange rate and black-market rates could widen. This could encourage the growth of parallel markets where currency is exchanged at higher rates, undermining the Central Bank’s control over monetary policy.

The logical next step to prevent destabilization might be for Iraq to introduce the new exchange rate. By doing so, they could:

• Stabilize market confidence.
• Reduce speculation.
• Align market forces with the anticipated economic reforms.

With the auctions suspended and the new year approaching, the window for inaction is small. Iraq may be positioning itself for a currency adjustment or revaluation before January 1st to avoid starting 2025 with uncertainty.

Majeed:  banks going international in Iraq…. CBI is not holding auction anymore It was stopped yesterday ….all of a sudden going to Forex “Economist Ziad Al-Hashemi revealed on Monday that the Central Bank of Iraq was suddenly suspending the operation of the dollar transfer platform before the scheduled date and without an official announcement and without taking into account the interests of Iraqi companies and markets, in a step that is said to be far from professionalism and transparency”

This is what you will be doing.

Currency Conversion = IQD/USD

Brothers Technology inc:  Ariel You’re Absolutely correct, However I have to ADMIT THAT NO AUCTION = Internationalization of Iraqi Banks = International Iraqi Dinar = International Iraqi Stock Exchange merry Christmas has a new meaning and merry Christmas

People allow Iraq to assess the market. They just did something extremely bold ahead of the date they were supposed to do it so something obviously changed behind the scenes that prompted them to jump the gun. I presume corruption and other factors were on their mind.

Iraq’s financial reforms are deeply tied to international politics and negotiations. If the exchange rate affects international contracts, IMF agreements, or regional trade deals, the delay may indicate ongoing negotiations behind the scenes.

So I was not expecting them to do another gutsy move on top of that by reinstating immediately after they just suspended the dollar transfer without any warning which even they called unprofessional for how this was carried out. Obviously someone is ready to get this over with.

Because the auctions were being exploited to siphon dollars out of Iraq, contributing to black-market activity and weakening the dinar. Ending them suddenly prevents further a***e. So this major step by itself sets up Iraq to make another adjustment. Which is the new exchange rate.

So please allow them to monitor their next move with caution as many of you were expecting them to drop another wild maneuver on the markets without a heads up when they have international contracts in place is not a smart thing to do. Which is why they have yet to disclose how much Kurdistan is getting.

This just accelerated de-dollarization and Iraq is pushing to reduce reliance on the U.S. dollar and strengthen the dinar. Halting auctions forces local markets to transition faster to dinar-based transactions. Which is what will give citizens their purchasing power. Not to mention the HCL stipends.

Read:

Majeed:  They promised to pay either on Thursday or Saturday…. Saturday is already out of question Because Forex will be closed, they cannot pay them inside the country with different rate because it will be exposed on the media Thursday today, my time …..They’re coming back to work in 6 hours and 10 minutes from now …..This is their only option to pay Kurdistan with the new rate if they were up to their promise.....plus the auction was stopped as the article said Who’s gonna handle the international transaction today if it wasn’t the banks? Plus the best listing days for currencies, Tuesday, Wednesday Thursday

https://dinarchronicles.com/2024/12/26/ariel-prolotario1-iraqi-dinar-update-now-this-is-a-merry-christmas/

Merry Christmas from The Dinar Recaps Team

All of us at Dinar Recaps would like to wish all our Readers a Very Merry Christmas.

We wish that all your dreams and wishes come true this coming year. 

Due to the holiday, we plan to have new posts off and on both Tuesday and Wednesday.

Please check our  BLOG PAGE  for all new posts. 

On (Tuesday) Christmas Eve, we plan to have 10am and 6pm email Newsletters (no 10pm (ET)

On (Wednesday) Christmas Day we plan to have 11am and 6pm (ET) email Newsletters (no 10pm (ET). 

Have a happy and safe holiday.  The Dinar Recaps Team

Picture from Viktor Hanacek at Picjumbo.com

More News, Rumors and Opinions Wednesday PM 12-25-2024

Gold Telegraph: All Eyes on the Federal Reserve for 2025

Dec 24, 2024

The majority of economists once focused on predicting events with accuracy. Now, their role has shifted to crafting illusions designed to deceive. Imagine doing this for a living?

2025 will be the golden age.

Let’s hope we are entering an era where the Federal Reserve is finally held accountable, enabling a world buried in debt and crushing the economic future of generations to come. New article soon.

ALL EYES ON THE FEDERAL RESERVE FOR 2025?

Elon Musk says the Federal Reserve is overstaffed. Understatement.

For 25 years, they have papered over every crisis with a flood of excessive credit, creating illusions of stability while deepening the cracks.

Get this:

In 2022, the Federal Reserve spent $5 billion on salaries and pensions for 23,000 employees.

This averaged: $217,000 per employee.

Earlier this year, Jerome Powell declared it’s long overdue for an adult conversation on unsustainable fiscal policy.

Ironically, The Federal Reserve fuelled this path by anchoring rates at zero for years. Something has to give?

BREAKING NEWS: THE BIGGEST BANKS ARE PLANNING TO SUE THE FEDERAL RESERVE OVER THE ANNUAL BANK STRESS TESTS

Merry Christmas.

“In July, the groups accused the Fed of being in violation of the Administrative Procedure Act, because it didn’t seek public comment…”

Source: https://www.cnbc.com/amp/2024/12/24/biggest-banks-planning-to-sue-the-federal-reserve-over-annual-stress-tests.html

Japan’s finance minister has issued another warning about excessive foreign exchange fluctuations. He says the country is ready to step in and stabilize the yen. U.S. Treasuries…

Merry Christmas and Happy Holidays everyone.

https://dinarchronicles.com/2024/12/24/gold-telegraph-all-eyes-on-the-federal-reserve-for-2025/

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

KTFA:

Clare:  Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq

12/25/2024

The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.

Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."

He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."

Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."

The dollar price rose gradually in local markets, recording 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region.  LINK

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

Frank26  IMO the lower denominations, the lower notes that will be passed out are now in the [Iraqi] banks, are now in the position ready to be handed over to the citizens...

Frank26   There is a plethora of very good informative monetary reform education articles that are coming out that are causing this great pressure of information, a venturi effect of information to the Iraqi citizens.  This is the time to do that...We say to ourselves, 'Wow! They're telling the citizens they're going to add value to their currency by giving them purchasing power by lifting the three zeros from the exchange rate.  Wow!'...This monetary reform education right now, it's so much of it.  It's cornucopia that is filled.  It's a piñata that got busted open and it's spilling everywhere, every day.

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'Get the Hell Out of Credit' - Only Gold Survives Coming Collapse: Alasdair Macleod

Commodity Culture: 12-25-2024

Alasdair Macleod believes that interest rates rising signal an impending collapse of the credit market that will wipe out stocks, bonds, and crypto without prejudice, and when that event occurs, only gold in your hand will provide some salvation.

Alasdair hones in on the 10 Year Treasury rate and why it's flashing red, in addition to discussing recent massive deliveries of both gold and silver on the COMEX, why Russia may be headed towards a gold standard, and much more.

00:00 Introduction

 00:40 Interest Rates Hold the Key

 07:22 Danger of Rising Yields on Treasuries

 11:36 Massive COMEX Deliveries

19:41 Huge Gold Demand in Asia

23:33 Is Silver Truly Undervalued?

31:26 Geopolitical Uncertainty

38:54 Canada's Economic Woes

https://www.youtube.com/watch?v=62qq0hZF9Yo

The Collapse of the US Empire

The Collapse of the US Empire

WTFinance:  12-24-2024

In a recent episode of the WTFinance podcast, host John Smith welcomed back the renowned economist and social critic, Professor Richard Wolff.

Known for his compelling critiques of contemporary economic systems and his role as the Founding Director of Democracy at Work, Wolff brought his expertise to the discussion on the economics of 2024 and what the future may hold for the United States and the global economy.

As the world approaches 2024, Wolff highlighted several significant economic trends that could shape the year. One of the key themes was the potential for another “Roaring Twenties,” a term often associated with the economic boom following World War I in the United States.

Wolff noted that while the conditions for such a renaissance might exist, the reality is tempered by internal challenges facing the U.S., such as income inequality, labor unrest, and political polarization.

Wolff discussed the inward-looking nature of the U.S. economy, which has shifted in recent years due to various factors, including geopolitical tensions and a pandemic-driven re-evaluation of global supply chains. He posited that this inward focus could lead to both challenges and opportunities for growth.

A resurgence of domestic manufacturing, for instance, may boost local economies, but it requires a careful balance of investment in technology and workforce development.

Another critical aspect of the conversation revolved around the effects of large-scale migration on the U.S. economy. Wolff emphasized that an influx of immigrants can lead to wage increases across various sectors. The resulting demographic shift could drive demand for goods and services, stimulating economic growth. However, he cautioned that without proper integration policies and support systems, tensions could arise, impacting the overall economic landscape.

As the discussion progressed, Wolff articulated a vision for systemic change to alter the current economic trajectory. He stressed the importance of collective action, both in the workplace and within communities, to challenge the status quo.

 Wolff called for policies that promote cooperative business models, worker ownership, and equitable distribution of resources as means to create a more just economy. By empowering workers and encouraging grassroots movements, he believes society can effectively counteract the dangers of a collapsing economic system.

Perhaps the most impactful message from Wolff’s conversation was the emphasis on collective action as a necessary tool for change. In a world grappling with economic uncertainty and inequality, the notion that individuals can come together to drive systemic reform was a powerful reminder of the potential for social and economic transformation.

Wolff encouraged listeners to engage in conversations about alternative economic structures and to explore new avenues for collaboration and community empowerment.

The WTFinance podcast episode featuring Professor Richard Wolff provided a thought-provoking analysis of the upcoming economic landscape of 2024. From the possibilities of a renewed economic boom to the challenges posed by migration and systemic inequality, Wolff’s insights are invaluable for anyone seeking to understand the complexities of modern economics.

As we move forward into a new year, his call for collective action and systemic reform remains a crucial reminder of the power of community in shaping a more equitable economic future.

https://youtu.be/1NmVbztjAp4

Iraq Economic News and Points to Ponder Wednesday Afternoon 12-25-24

What Are Iraqis Waiting For After News Of The “Sudden Suspension” Of The Dollar Selling Platform By The Central Bank?

 Economy | Yesterday,  Baghdad today – Baghdad   Today, Tuesday (December 24, 2024), the specialist in financial and banking affairs, Alaa Al-Fahd, commented on the impact of stopping the “platform” by the Central Bank on the markets during the next stage.

Al-Fahd said, to “Baghdad Today,” that  “the Central Bank of Iraq worked during the previous period with a plan through

      an auction to sell the currency in the first stage, then

     establishing the electronic platform and

     working intensively to find methods of correspondence between local banks and foreign banks with which we have commercial relations and their results in transfers.”

“For this reason,  the bank announced some time ago that at the end of the current year, the platform will be stopped and there will be direct correspondent banks.” He stated,

 "This is normal.

 All central banks in the world's mission is to maintain monetary policy and not sell the currency.

 There is no central bank in the world that      sells the currency and   mediates in the buying and selling of the currency.

 This work is the jurisdiction and responsibility of the banks and exchange companies.

This matter is correct and it is a major challenge."

 So that the relationships are direct commercial and banking, according to supervision by the Central Bank of Iraq.” He added,

 "Stopping the platform will not affect the local markets regarding the exchange rate of the dollar, but  there are those who are trying to spread rumors that this step will change the exchange rate, so

 selling the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have...

Relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and for this reason the situation is under control and there is no fear of the influence of the markets.”

 Yesterday, Monday, the economic expert, Ziad Al-Hashemi, revealed that the  Central Bank of Iraq suddenly stopped the work of the dollar transfer platform, before the specified date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a step that, to say the least, is far from professionalism and transparency.

Al-Hashemi said in a post on the social networking site “Facebook,” followed by “Baghdad Today,” that

 “stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear about the results of stopping the platform on the dollar exchange rates, and

 not announcing it could It gives the Central Bank an opportunity to disavow and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to significant rates.”    

https://baghdadtoday.news/264554-ماذا-ينتظر-العراقيون-بعد-انباء-الإيقاف-المفاجئ-لمنصة-بيع-الدولار-من-قبل-البنك-المركزي؟.htm l  

Do Regional Challenges Play A Role In The Continued Rise Of The Dollar In Iraq?
 
December 24, 2024  Baghdad/Iraq Observer   The researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed that the 
 
reason behind the continued rise in the exchange rate of the dollar against the Iraqi dinar is the amount of demand for it in the parallel market, while  calling for the necessity of conducting an extensive study to analyze the reasons for this rise.  Hantoush told the Iraq Observer,
 
 “One of the most important reasons behind the continued rise in the exchange rate is the collapse of the Iraqi banking system due to the control of Jordanian and Gulf banks over the dollar, which caused the lack of competition and monopoly of the dollar.”  He added,
 
"Among other reasons is the existence of huge trade with Iran and Syria without an official platform or commercial solutions or even preventing it.
 
It is a continuous trade and without any official restrictions.
 
In addition to the fact that travelers, who number in the millions, to Iran and Syria, they move without the cover of the dollar."

He continued,   “Because there are small merchants, numbering in the thousands, who do not have companies or import licenses, which caused pressure on the parallel market,
 
therefore all of the above were not covered through the currency auction, which led to the continued state of fluctuation in exchange rates.”
 
The person concerned with financial and banking affairs continues to say that
 
“there are fears of wars in the region that push market traders and citizens to exaggerate the quantities imported and purchased, and also push some citizens to save dollars in anticipation of any emergency.”

Today, Tuesday, the exchange rates of the US dollar against the dinar recorded an increase in the local markets in the capital, Baghdad. The Iraq Observer correspondent said that
 
dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 151,200 dinars for every 100 dollars, while yesterday morning, Monday, they recorded 151,000 dinars for every 100 dollars. He added that
 
selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars. https://observeriraq.net/هل-للتحديات-الاقليمية-دور-بأستمرار-ار/   

The Central Bank Of Iraq Launches Strategic Projects To Support Digital Transformation
 
December 24, 2024   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Al-Alaq, announced the  launch of strategic projects to support digital transformation in the country.
 
    His Excellency the Governor affirmed in his speech during the fourth annual international scientific conference, which was entitled
(Digital Financial Services - Challenges of Reality and Foresight of the Future), that
 
“the Central Bank paid great attention to digital transformation as one of its goals within its third strategic plan for the years 2024 to 2026 to enhance work efficiency.” banking, improving financial performance and meeting customer needs in light of rapid technological development.”    His Excellency noted that,
 
“The Central Bank has made great strides to support digital transformation by developing the technical infrastructure and issuing regulations and instructions that contribute to enhancing financial inclusion,” noting that
 
“it has begun launching strategic projects, including the instant payments project, local cards, and unified payment gateways, as well as issuing controls.” To license digital banks in Iraq, taking into account cybersecurity requirements and the risks associated with this transformation.    His Excellency added,
 
"Cybersecurity represents one of the most important challenges facing us today.
 
Therefore, the Central Bank launched projects to enhance cybersecurity by developing the tools and systems of the Cybersecurity Management Center, and  adopting an advanced approach to enhance cybersecurity for the Central Bank and the banking sector."   

His Excellency stressed  "the Central Bank's commitment to continuing its efforts to achieve financial digital transformation and enhance innovation and sustainability in the financial sector."      
 Central Bank of Iraq      Media office      December 24, 2024   https://cbi.iq/news/view/2745   

Positive Indicators For The Third Quarter Of 2024

 December 24, 2024   1. Growth in the volume of cash deposits and credit of operating banks by (4.2%) and (11.6%), respectively:

 Total deposits with banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, reaching a value of (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023. In contrast, the

 cash credit record Granted by public banks grew by (11.6%) in the third quarter of 2024, as its value reached (72.7) trillion dinars, compared to Its value amounts to (65.1) trillion dinars in the third quarter of 2023.

 Positive indicators for the third quarter of 2024 File-173502791644793

https://cbi.iq/static/uploads/up/file-173502791644793.jpg

 2. Growth in the volume of cash deposits and credit to private banks by (14%) and (15.1%), respectively:

 Deposits with private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, reaching a value of (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023.

 On the other hand, it achieved Monetary credit granted by private banks grew by (15.1%) in the third quarter of 2024, reaching a value of (12.2) trillion dinars, compared to With a value of (10.6) trillion dinars in the third quarter of 2023.

 It should be noted that these percentages reflect the increased confidence of economic units in private banks operating in Iraq.

 Positive indicators for the third quarter of 2024 File-173502819314514

https://cbi.iq/static/uploads/up/file-173502819314514.jpg

 3. Growth in the volume of deposits and cash credit to the private sector by (3%) and (8.6%), respectively:

Private sector deposits with banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, reaching a value of (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023. On the other hand, credit achieved...

 Cash granted to the private sector by banks operating in Iraq grew by (8.6%) in the third quarter of 2024, reaching a value of (42.8) trillion. dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023.

 It should be noted that this increase reflects increased private sector confidence in banks operating in Iraq.

 Positive indicators for the third quarter of 2024 File-173502835431430

https://cbi.iq/static/uploads/up/file-173502835431430.jpg

 4. Growth of the money supply in the narrow sense ( M1 ) by (4.1%), and the money supply in the broad sense ( M2 ) by (3.3%):

The money supply in the narrow sense in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as   its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023.

 On the other hand, the money supply in the narrow sense recorded Broadband in Iraq grew by (3.3%) in the third quarter of 2024, as its value reached (179.8) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023.

 Positive indicators for the third quarter of 2024 File-173502876777164

https://cbi.iq/static/uploads/up/file-173502876777164.jpg

 5. Growth of gold reserves at the Central Bank by (57%):

 Gold reserves at the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, reaching a value of (16.8) trillion dinars, compared to its value of (10.7) trillion dinars in the third quarter of 2023.

It should be noted that gold reserves are an important hedge against the risks of falling global oil prices.

Positive indicators for the third quarter of 2024 File-173502907237970

https://cbi.iq/static/uploads/up/file-173502907237970.jpg

6. The annual inflation rate for the months of August and September was (3.7%) and (3.1%), respectively:

 Annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rest of the rate is acceptable at (3.7%) and (3.1%), respectively, and  this reflects price stability and the success of monetary policy in Iraq.

 Positive indicators for the third quarter of 2024 File-173502988143405

 https://cbi.iq/static/uploads/up/file-173502988143405.jpg  https://cbi.iq/news/view/2744     

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

"Christmas 1881" Posted by Mot at TNT

TNT:

Mot:  Christmas 1881

Pa never had much compassion for the lazy or those who squandered their
means and then never had enough for the necessities. But for those who were
genuinely in need, his heart was as big as all outdoors. It was from him
that I learned the greatest joy in life comes from giving, not from receiving.
 
It was Christmas Eve, 1881. I was fifteen years old and feeling like the
world had caved in on me because there just hadn't been enough money to buy
me the rifle that I'd wanted for Christmas. We did the chores early that
night for some reason. I just figured Pa wanted a little extra time so we
could read in the Bible.

After supper was over I took my boots off and stretched out in front of the
fireplace and waited for Pa to get down the old Bible. I was still feeling
sorry for myself and, to be honest, I wasn't in much of a mood to read
Scriptures. But Pa didn't get the Bible, instead he bundled up again and
went outside.

I couldn't figure it out because we had already done all the
chores. I didn't worry about it long though, I was too busy wallowing in
self-pity.
 
Soon Pa came back in. It was a cold clear night out and there was ice in
his beard. "Come on, Matt," he said. "Bundle up good, it's cold out
tonight." I was really upset then. Not only wasn't I getting the rifle for
Christmas, now Pa was dragging me out in the cold, and for no earthly reason
that I could see.

We'd already done all the chores, and I couldn't think of
anything else that needed doing, especially not on a night like this. But I
knew Pa was not very patient at one dragging one's feet when he'd told them
to do something, so I got up and put my boots back on and got my cap, coat,
and mittens. Ma gave me a mysterious smile as I opened the door to leave
the house. Something was up, but I didn't know what.
 
Outside, I became even more dismayed. There in front of the house was the
work team, already hitched to the big sled. Whatever it was we were going
to do wasn't going to be a short, quick, little job. I could tell. We
never hitched up this sled unless we were going to haul a big load. Pa was
already up on the seat, reins in hand. I reluctantly climbed up beside him.
The cold was already biting at me. I wasn't happy.
 
When I was on, Pa pulled the sled around the house and stopped in front of
the woodshed. He got off and I followed. "I think we'll put on the high
sideboards," he said. "Here, help me." The high sideboards! It had been a
bigger job than I wanted to do with just the low sideboards on, but whatever
it was we were going to do would be a lot bigger with the high side boards on.
 
After we had exchanged the sideboards, Pa went into the woodshed and came
out with an armload of wood - the wood I'd spent all summer hauling down
from the mountain, and then all fall sawing into blocks and splitting. What
was he doing?

Finally I said something. "Pa," I asked, "what are you
doing?" "You been by the Widow Jensen's lately?" he asked. The Widow
Jensen lived about two miles down the road. Her husband had died a year or
so before and left her with three children, the oldest being eight. Sure,
I'd been by, but so what?
 
Yeah," I said, "Why?"
 
"I rode by just today," Pa said. "Little Jakey was out digging around in
the woodpile trying to find a few chips. They're out of wood, Matt." That
was all he said and then he turned and went back into the woodshed for
another armload of wood. I followed him. We loaded the sled so high that I
began to wonder if the horses would be able to pull it.
 
Finally, Pa called a halt to our loading, then we went to the smoke house
and Pa took down a big ham and a side of bacon. He handed them to me and
told me to put them in the sled and wait. When he returned he was carrying
a sack of flour over his right shoulder and a smaller sack of something in
his left hand. "What's in the little sack?" I asked. Shoes, they're out of shoes.

Little Jakey just had gunny sacks wrapped around his feet when he
was out in the woodpile this morning. I got the children a little candy
too. It just wouldn't be Christmas without a little candy."
 
We rode the two miles to Widow Jensen's pretty much in silence. I tried to
think through what Pa was doing. We didn't have much by worldly standards.
Of course, we did have a big woodpile, though most of what was left now was
still in the form of logs that I would have to saw into blocks and split
before we could use it.

We also had meat and flour, so we could spare that,
but I knew we didn't have any money, so why was Pa buying them shoes and
candy? Really, why was he doing any of this? Widow Jensen had closer
neighbors than us; it shouldn't have been our concern.
 
We came in from the blind side of the Jensen house and unloaded the wood as
quietly as possible, then we took the meat and flour and shoes to the door.
We knocked. The door opened a crack and a timid voice said, "Who is it?"
"Lucas Miles, Ma'am, and my son, Matt... could we come in for a bit?"
 
Widow Jensen opened the door and let us in. She had a blanket wrapped
around her shoulders. The children were wrapped in another and were sitting
in front of the fireplace by a very small fire that hardly gave off any heat
at all. Widow Jensen fumbled with a match and finally lit the lamp.
 
"We brought you a few things, Ma'am," Pa said and set down the sack of
flour. I put the meat on the table. Then Pa handed her the sack that had
the shoes in it. She opened it hesitantly and took the shoes out, one pair
at a time.

There was a pair for her and one for each of the children -
sturdy shoes, the best... shoes that would last. I watched her carefully.
She bit her lower lip to keep it from trembling and then tears filled her
eyes and started running down her cheeks. She looked up at Pa like she
wanted to say something, but it wouldn't come out.
 
"We brought a load of wood too, Ma'am," Pa said. He turned to me and said,
"Matt, go bring in enough to last awhile. Let's get that fire up to size
and heat this place up."
 
I wasn't the same person when I went back out to bring in the wood. I had
a big lump in my throat and as much as I hate to admit it, there were tears
in my eyes too. In my mind I kept seeing those three kids huddled around
the fireplace and their mother standing there with tears running down her
cheeks with so much gratitude in her heart that she couldn't speak.

My heart swelled within me and a joy that I'd never known before, filled my
soul. I had given at Christmas many times before, but never when it had
made so much difference. I could see we were literally saving the lives of
these people.
 
I soon had the fire blazing and everyone's spirits soared. The kids
started giggling when Pa handed them each a piece of candy and Widow Jensen
looked on with a smile that probably hadn't crossed her face for a long
time. She finally turned to us. "God bless you," she said. "I know the
Lord has sent you. The children and I have been praying that he would send
one of his angels to spare us."
 
In spite of myself, the lump returned to my throat and the tears welled up
in my eyes again. I'd never thought of Pa in those exact terms before, but
after Widow Jensen mentioned it, I could see that it was probably true. I
was sure that a better man than Pa had never walked the earth. I started
remembering all the times he had gone out of his way for Ma and me, and many
others. The list seemed endless as I thought on it.
 
Pa insisted that everyone try on the shoes before we left. I was amazed
when they all fit, and I wondered how he had known what sizes to get. Then
I guessed that if he was on an errand for the Lord, that the Lord would make
sure he got the right sizes.

 
Tears were running down Widow Jensen's face again when we stood up to
leave. Pa took each of the kids in his big arms and gave them a hug. ... They
clung to him and didn't want us to go. I could see that they missed their
Pa, and I was glad that I still had mine.
 
At the door Pa turned to Widow Jensen and said, "The Mrs. wanted me to
invite you and the children over for Christmas dinner tomorrow. The turkey
will be more than the three of us can eat, and a man can get cantankerous if
he has to eat turkey for too many meals. We'll be by to get you about
eleven. It'll be nice to have some little ones around again. Matt, here,
hasn't been little for quite a spell." I was the youngest... my two
brothers and two sisters had all married and had moved away.
 
Widow Jensen nodded and said, "Thank you, Brother Miles. I don't have to
say, may the Lord bless you, I know for certain that He will."

Out on the sled I felt a warmth that came from deep within and I didn't
even notice the cold. When we had gone a ways, Pa turned to me and said,
"Matt, I want you to know something. Your Ma and me have been tucking a
little money away here and there all year so we could buy that rifle for
you, but we didn't have quite enough.

Then yesterday a man who owed me a little money from years back came by to make things square. Your Ma and me were real excited, thinking that now we could get you that rifle, and I started into town this morning to do just that, but on the way I saw little Jakey out scratching in the woodpile with his feet wrapped in those gunny sacks and I knew what I had to do. Son, I spent the money for shoes and a
little candy for those children. I hope you understand."
 
I understood alright... and my eyes became wet with tears again. I
understood very well, and I was so glad Pa had done it. Now the rifle
seemed very low on my list of priorities. Pa had given me a lot more. He
had given me the look on Widow Jensen's face and the radiant smiles of her
three children.
 
For the rest of my life, whenever I saw any of the Jensens, or split a
block of wood, I remembered, and remembering brought back that same joy I
felt riding home beside Pa that night. Pa had given me much more than a
rifle that night, he had given me the best Christmas of my life.
 
Don't be too busy today... share this inspiring message. Merry Christmas
and God bless you!

When Massachusetts Banned Christmas

When Massachusetts Banned Christmas

Christopher Klein

Ebenezer Scrooge and the Grinch had nothing on the 17th-century Puritans, who actually banned the public celebration of Christmas in the Massachusetts Bay Colony for an entire generation.

The pious Puritans who sailed from England in 1630 to found the Massachusetts Bay Colony brought with them something that might seem surprising for a group of devout Christians—contempt for Christmas.

In a reversal of modern practices, the Puritans kept their shops and schools open and churches closed on Christmas, a holiday that some disparaged as “Foolstide.”

A Puritan governor disrupting Christmas celebrations.

After the Puritans in England overthrew King Charles I in 1647, among their first items of business after chopping off the monarch’s head was to ban Christmas. Parliament decreed that December 25 should instead be a day of “fasting and humiliation” for Englishmen to account for their sins.

The Puritans of New England eventually followed the lead of those in old England, and in 1659 the General Court of the Massachusetts Bay Colony made it a criminal offense to publicly celebrate the holiday and declared that “whosoever shall be found observing any such day as Christmas or the like, either by forbearing of labor, feasting, or any other way” was subject to a 5-shilling fine.

Why did the Puritans loathe Christmas? Stephen Nissenbaum, author of “The Battle for Christmas,” says it was partly because of theology and partly because of the rowdy celebrations that marked the holiday in the 1600s.

In their strict interpretation of the Bible, the Puritans noted that there was no scriptural basis for commemorating Christmas.

“The Puritans tried to run a society in which legislation would not violate anything that the Bible said, and nowhere in the Bible is there a mention of celebrating the Nativity,” Nissenbaum says. The Puritans noted that scriptures did not mention a season, let alone a single day, that marked the birth of Jesus.

To continue reading, please go to the original article here:

https://www.history.com/news/when-massachusetts-banned-christmas

Iraq News Highlights and Points to Ponder Wednesday AM 12-25-24

The 10 Highest And Lowest Income Tax Paying Countries In The World.. What About Iraq?

Economy   2024-12-25 | The 10 highest and lowest income tax paying countries in the world.. What about Iraq? Doc-P-510746-638707171487282897

Source:   Al Jazeera Net   808 views   Sumerian News – Economy   Taxes are among the most relied upon means Countries In financing its general expenses, including :Army Police, public education, infrastructure, and other spending items, and the percentage of reliance on them varies between nation And another in the world, as it is an essential element in making investment decisions.

Taxes come in many forms, including sales tax, income tax, property tax, inheritance and estate taxes, consumption tax, and many more, and tax rates and regulations vary greatly from country to country, according to the World Population Review.

Income tax usually plays a big role in this, and varies.CountriesIn terms of how and how much income tax it collects from individuals and companies, Denmark - for example - imposes an income tax of up to 55.9% on the income of its citizens. On the contrary, there are other countries that do not impose any income tax on their citizens, such as Qatar and the Bahamas.

Most countries applyCountriesProgressive income tax system, whereby people with higher incomes pay a higher tax rate than their counterparts with lower incomes, the idea behind progressive tax is that people with higher incomes can afford to pay more taxes.

Types of Income Tax

There are different types of income tax, according to the Tax Foundation, Globalization Guide, and Investopedia, which can be summarized as follows:

Individual Income Tax

Individual income tax is also known as personal income tax, and is imposed on wages, salaries, investments, or other forms of income earned by an individual.

 Given that many individual income taxes are “progressive,” this means that tax rates increase as taxpayers’ income increases, resulting in higher-income earners paying a larger share of income taxes than lower-income earners. Corporate

Income Tax Corporations

also pay income taxes on their profits. Governments tax businesses of all sizes, large, medium, and small.

Depending on the structure of the business, the company or its owners or shareholders report their business income and then subtract operating and capital expenses. Generally, the difference between their business income and their operating and capital expenses is their taxable business income. Payroll

Taxes

Payroll taxes are paid on employees’ wages and salaries to fund social insurance programs. In the United States, for example, the largest payroll taxes are 12.4% to fund Social Security and 2.9% to fund Medicare, for a total rate of 15.3%. Half of payroll taxes (7.65%) are paid directly by employers, while the other half is deducted from employees’ paychecks.

Capital gains taxes

Capital assets generally include anything you own and use for personal, pleasure, or investment purposes, including stocks, bonds, homes, cars, jewelry, and art. As the value of one of these assets increases—for example, when the price of a stock you own rises—the result is what is called a “capital gain.”

Taxes based on citizenship

Taxes based on citizenship are the most severe form of taxation and are used by only two countries in the world: Eritrea and the United States.

Citizens of both countries cannot escape the demands of their own tax authorities, as citizens of both countries must declare their income and taxes regardless of where in the world they live.

 In this report, we focus on individual income taxes, and provide lists of the 10 highest and lowest Arab and international peoples paying individual income tax in the world in 2024.

The 10 highest peoples paying individual income tax in the world in 2024

Below is a list of the 10 highest peoples in the world paying individual income tax as of December 2024, according to the Trading Economics platform:

Finland: 57.3%.   Japan: 55.95%.   Denmark: 55.9%.   Austria: 55%.   Sweden: 52.3%.  Aruba: 52%.

Belgium: 50%.   Israel: 50%.   Slovenia: 50%.   Netherlands: 49.5%.

The 10 lowest peoples paying individual income tax in the world in 2024CountriesZero

Countries Zero is Countries Which do not impose any income tax on their citizens (0%), and they are many, as their number reaches 28 countries, including all the countries of the Gulf Cooperation Council, and for this reason we did not include them in this list, but we devoted a special list to them at the end of this report.

The following is a list of the 10 countries with the lowest individual income tax in the world outside the zero list, according to the previous source.

Guatemala: 7%.   Montenegro: 9%.   Bosnia and Herzegovina: 10%.  Serbia: 10%.   Bulgaria: 10%.

Libya: 10%.   Romania: 10%.   Kazakhstan: 10%.   Macau: 12%.   Moldova: 12%.

The 10 highest Arab countries paying individual income tax in 2024

The majority imposeCountriesA progressive tax based on the level of annual individual income, starting at 0% in some countries, and reaching a maximum of 40%.

In the case of Tunisia, for example, the country imposes a progressive tax of 0% for those whose income is less than 5,000 Tunisian dinars annually, and increases to 35% for those whose income is more than 50,000 Tunisian dinars annually in 2024. This percentage was raised to 40% in the 2025 budget.

As for Morocco, the tax ranges from 0% for the bracket whose income is less than 30,000 dirhams annually, and reaches a maximum of 38% for the bracket whose income exceeds 180,000 dirhams annually. The Moroccan government recently decided to reduce this percentage to 37%.

In Jordan, the income tax differs between a natural person and a legal person, reaching a maximum of 20% for natural persons, and a maximum of 35% for legal persons.

Below we will provide you with a list of the top 10 Arab countries that impose income tax in 2024. Note that the percentages in the list are for the maximum tax according to the Trading Economics platform.

Mauritania: 40%.      Morocco: 38%.   Algeria: 35%.   Tunisia: 35%.   Egypt: 27.5%.   Lebanon: 25%.

Syria: 22%.   Jordan: 20%.   Iraq: 15%.   Sudan: 15%.

Countries Zero Is Countries whose citizens pay 0% individual income tax, as we mentioned earlier, and their number is 28nationIn the world according to the Trading Economics and World Population Review platforms.

They are:

Qatar   Kuwait   Sultanate of Oman   Bahrain   Saudi Arabia   UAE   Iran   Ivory Coast   Nepal   Niger

Mali   Burkina Faso   Somalia   Benin   Burundi   Haiti   Kyrgyzstan   Central Africa   Guyana   Bhutan 

Solomon Islands   Cape Verde   Brunei   Bahamas   Vanuatu   Saint Lucia   Micronesia   Bahamas  LINK

For The Third Day.. The Dollar Continues To Rise Against The Iraqi Dinar

Tuesday, 12-24-2024,  Karar Al-Asadi   The US dollar exchange rate continues to rise for the third consecutive day against the Iraqi dinar, with the opening of the markets this morning, Tuesday.

The dollar price recorded a slight increase with the opening of the Al-Kifah and Al-Harithiya stock exchanges, reaching 151,200 dinars for every 100 dollars, while yesterday morning, Monday, it recorded 151,000 dinars for every 100 dollars.

The dollar prices rose in exchange shops in local markets in Baghdad, where the selling price reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars. https://non14.net/public/173154

Iraq Announces Great Strides In Digital Transformation

Money and business     Economy News – Baghdad  The Ministry of Finance announced today, Tuesday, that it has made great strides in digital transformation and electronic payment, while indicating that progress has been made in the field of automating customs procedures to ensure financial sustainability and economic diversification.

The representative of the Minister of Finance/Undersecretary of the Ministry, Rebaz Mohammed Hamdan, said in her speech during the fourth annual international scientific conference, entitled (Digital Financial Services - Challenges of Reality and Foresight of the Future), that “our conference today comes within the government’s efforts to implement the government program, as digital financial services have witnessed rapid development in recent years, and modern technology has contributed to accelerating the financial process.”

He added that "the ministry has made great strides in digital transformation, including financial transfers, electronic payments, online loans and mobile banking services, which has increased the efficiency of accelerating financial transactions, reduced the need for cash transactions and provided services to people who cannot access traditional banking services," noting that "innovation and development in this field have been enhanced and ways of cooperation between relevant parties in the field of financial technology have been discussed, and the most prominent solutions related to cybersecurity and future risks in this sector have been reviewed and how to take precautions against these risks."

 He added that "the ministry has made progress in the field of automating customs procedures to ensure financial sustainability and economic diversification in accordance with the principle of integrity, transparency, and combating corruption, and implementing programmes at the Financial and Accounting Training Centre to train employees on the use of new digital systems with the aim of enhancing digital skills in the ministry, improving financial performance, and enhancing confidence in the financial system."  65 views  12/24/2024 - https://economy-news.net/content.php?id=51236

Director Of Iraqi Ports: Our Revenues Exceeded One Trillion Dinars In 2024

Economy  | 12/24/2024  Mawazine News – Baghdad  The Director General of the Ports Company, Farhan Fartosi, stated today, Tuesday, that the company's revenues exceeded one trillion dinars in the year 2024.

Fartosi said in a statement to "Mawazine News" that "the company's revenues achieved a leap through the development of docks and port facilities, in addition to introducing the electronic automation system."

He pointed out that "the revenues for the year 2024 recorded more than one trillion dinars after they did not exceed half a trillion in previous years." https://www.mawazin.net/Details.aspx?jimare=25785