BRICS Economies to Surpass Half of Global GDP, Challenging Western Dominance

BRICS Economies to Surpass Half of Global GDP, Challenging Western Dominance

Geopolitical Analyst:  12-28-2024

In recent years, the BRICS nations—Brazil, Russia, India, China, and South Africa—have emerged as formidable players in the global economic landscape.

 With a collective GDP that is on track to surpass 50% of the world’s economic output in the next 10 to 15 years, as projected by Russian Deputy Prime Minister Alexander Novak, the BRICS bloc is rapidly reshaping the dynamics of international trade and finance.

Novak’s optimistic outlook is underscored by the significant economic weight these nations carry. As of 2024, BRICS economies account for an estimated 37.3% of global GDP based on purchasing power parity (PPP), eclipsing the G7’s 30%.

The collective output of BRICS not only surpasses that of the G7 in purchasing power terms, but it also reflects the burgeoning potential of its member nations—particularly China, which represents 19.05%, and India, contributing 8.23%.

While the G7 still leads in nominal GDP with a share of approximately 44%, BRICS holds a commendable 28%. However, the trajectory indicates a potential shift as the combined influence of BRICS continues to expand. This upward trend positions BRICS as key drivers of global economic growth, capable of sustaining robust development and investment opportunities.

A pivotal moment for BRICS occurred in 2024, when it expanded its membership to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). This enlargement not only amplifies BRICS’ global energy influence—given the oil-producing capabilities of Saudi Arabia and the UAE—but also enhances its geopolitical presence by incorporating countries from the Middle East and Africa.

The addition of these diverse nations brings strategic advantages, such as Iran’s energy resources and trade links, as well as a stronger African representation through Egypt and Ethiopia. This shift reflects BRICS’ intention to challenge the hegemony of Western-dominated economic institutions and to provide a platform for the voices of the Global South.

The ongoing growth and evolution of BRICS signal a potential reshaping of global governance structures. The group’s increasing economic and geopolitical clout allows it to push for reforms in international financial institutions that have traditionally favored Western nations. Russian President Vladamir Putin, during the BRICS Business Forum in October, articulated that BRICS will be a central player in the generation of global GDP in the foreseeable future.

The rebalancing of power dynamics calls for a reexamination of international relations. As BRICS expands, it not only represents economic collaboration but also serves as a counterbalance to the geopolitical narratives dominated by the West.

However, this shift towards a multipolar world comes with its own set of challenges. Geoeconomic risks are inherent in the transformations of global power structures, as shifts in geopolitics can be influenced by various factors, including technological advancements, demographic changes, environmental issues, and political movements.

The ongoing globalization has seen emerging markets like China, India, and Brazil rise to prominence, reshaping traditional economic relationships. While Germany and other developed nations may benefit from this evolving landscape, there remains an underlying tension.

Politicians often seek to maintain the status quo, occasionally stifling progress to uphold the illusion of stability and security. Such actions can lead to disruptions that amplify existing inequalities and create instability in global markets.

As the BRICS nations continue to expand their influence, they are poised to play a transformative role in the global economy. With their vast populations, resource-rich territories, and potential for sustainable growth, BRICS is increasingly becoming a significant player on the world stage.

While the journey toward a multipolar world is fraught with challenges, the trajectory suggests a promising future for BRICS as it endeavors to reshape global governance, promote inclusive growth, and amplify the voices of developing nations.

The coming years will undoubtedly witness the unfolding of this new economic narrative, highlighting the imperative for adaptive strategies in an ever-evolving global landscape.

https://youtu.be/gk2hOP0w4t0

News, Rumors and Opinions Sunday 12-29-2024

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 Sun. 29 Dec. 2024

Compiled Sun. 29 Dec. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Sat. 28 Dec. 2024 Wolverine: “Get ready everyone we are ready. All protocols have been met and everything is ready to go. We just have to wait for the GO sign. I’m expecting the 1 or the 2nd of January. I’ve had many on a conference call and they all said that we are about to go anytime right now and many are pointing to the 1st and 2nd of January 2025. Not long to go guys. God bless.”

Sat. 28 Dec. 2024 TNT Tony: “The green light has been given once again and bankers have a window.”

Read full post here:  https://dinarchronicles.com/2024/12/29/restored-republic-via-a-gcr-update-as-of-december-29-2024/

KTFA:

Frank26:  "SUDANI IS GIVING OSCARS AND THE ACADEMY AWARDS TO THOSE THAT MADE THE MONETARY REFORM SUCCESSFUL!!!".........F26

Delegation from US Department of Treasury visit the CBI

Announcement from Central Bank of Iraq – Dec 26 2024 Delegation from US department of treasury visited the central bank of Iraq, the delegation expressed their gratitude and appreciation for the procedures taken by the CBI during last year in the operations of combating the financing of terrorism and money laundering.

The delegation “”praised CBI’s electronic programs that was used for the first time and showed their astonishment for the speed and competency in using those programs also their admiration with the criteria placed by the bank with the help of international audit office (KPMG) which related to organizing Dollar selling operations and its monitor during the compliance of all banks to rules of combating the financing of terrorism and money laundering”” No. 39 for the year 2015.

Also the delegation listened to detailed explanation on the electronic system which applied by the CBI to monitor sold Dollar movement, and discussed CBI’s vast training program which will start soon and aims to train and qualify CBI’s employees working in monitoring and supervising field.

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

Frank26  [Iraq boots-on-the-ground report]   FIREFLY: All we care about is the stopping of the auctions and when...They still say auctions will end by the end of the month.  Mr Sammy says when they end the auctions and everyone goes back to work on the 2nd of January, the rise of the dollar will be very closely watched by us here at the banks.  If it starts to get out of hand by the 7th when parliament votes then [he] doesn't see any other move but to increase the dinar.  That's the only way Alaq has a way out.

Mnt Goat   Didn’t I tell everyone years ago that Iraq is going to be a central hub for the middle east? Let me correct myself in saying it is now a central hub only it is not yet fully geared up and running to its potential.  Eighty-five docking stations for freight ships at the port of Faw and only five are now open. Imagine when all eighty-five slips are operational? The amount of freight that will flow through this port of Faw.

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Iraq - CBI Governor Makes an Announcement, Digital Banking Expansion

Edu Matrix:  12-28-2027

Iraq - CBI Governor Makes an Announcement; Digital Banking Expansion Discover how Iraqi banks transform their services by adopting modern digital solutions in our latest video, "Iraqi Banks Go Digital: A New Era in Banking."

We delve into the Central Bank of Iraq's (CBI) innovative digital banking efforts to enhance financial accessibility and efficiency across the country. Learn about the exciting technologies being implemented and how they are reshaping the banking landscape in Iraq.

https://www.youtube.com/watch?v=i07Ta2u_ebs

When You See A Historic Marker That Signals Recession...

Lynette Zang:  12-28-2024

Today's video is a breakdown from a recent live where Lynette breaks down why this historic marker signals for recession, and why you need to be prepared!

https://www.youtube.com/watch?v=n2XbmOdkxWo

Iraq News Highlights and Points to Ponder Sunday AM 12-29-24

Iraq News Highlights and Points to Ponder Sunday AM 12-29-24

What Will Happen On Sunday?

Goodbye Dollar Auction.. Central Bank Announces The End Of 20 Years Of Billions And Suspicions

Maysoun Al Shaheen – 964   The matter has been settled.. Iraq will no longer offer its precious dollars in the controversial dollar auction, or what was called the foreign currency sales window and the electronic platform. After 20 years since the start of this procedure, Ammar Khalaf, Deputy Governor of the Central Bank, confirmed in a statement to the 964 Network that the dollar platform has become closed in compliance with the date set by the governor to close it at the end of 2024. Khalaf denied all rumors about the possibility of extending the platform’s work, and spoke with great positivity, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollars to traders. But what will happen?!

The sale of the dollar was a mechanism adopted by the Iraqi government after 2003 during the era of Governor Sinan Al-Shabibi, for several goals mentioned in a study by the bank official, Dr. Walid Aidi Abdul Nabi , including controlling the exchange rate and raising the purchasing power of those with limited incomes, among others. It aims to provide hard currency to traders in order to finance their imports of goods from abroad, but the idea was later subject to much skepticism and suspicion, and the auction became one of the most frequently mentioned files in discussions about corruption, fictitious import invoices, and currency smuggling to neighboring countries, among others.

What is your opinion?

According to the new system after the window closes, traders will have to deposit their money in dinars in Iraqi banks that have entered into partnerships with foreign banks (called correspondent banks). These correspondent banks with American banks will undertake all verification and compliance procedures, while the Central Bank will only be tasked with strengthening the dollar balances in the accounts of banks that are able to pass all these procedures. Many experts believe that this step has relieved the Central Bank of responsibility for any potential manipulation of invoices or attempts to smuggle currency, and the Central Bank has thus protected itself from any potential American sanctions with their dangerous implications for the country’s economy.

Khalaf said, “The date for closing the platform is fixed, it will not change and will not be extended. The banks have been preparing since the beginning of this year when Governor Ali Al-Alaq announced his intention to close the platform.”

According to Khalaf, “transfers are made by strengthening the balances of Iraqi banks, and 97% of transfers are now made according to the new mechanism.

This will be noticeable during the first days of the new year, as the Central Bank’s transfers to banks that are operating at full capacity will not change by strengthening the balances with correspondent banks.”

However, he left the door open to the possibility of a very slight and ineffective decline in the Central Bank’s sales.

He pointed out that “the majority of banks in Iraq have correspondent banks and have been operating according to the new mechanism since the beginning of this year, and traders will not face any problem unless their money is in banks without correspondent banks.”  https://964media.com/492488/

Economist: The Decrease In The Actual Value Of The Dinar Will Lead To Inflation

12/28/2024   Economist: Economic expert, Munar Al-Abidi, confirmed that “the value of any currency is determined based on two basic factors: the amount of currency issued, which is the total cash pumped by the central bank, and the size of reserves, which includes foreign currencies, investments, and gold held by the central bank.”

Al-Obaidi said in a tweet seen by (Al-Masry - Today, Saturday), that “at the end of 2023, the amount of currency issued reached 101 trillion dinars, and the value of official reserves reached 145 trillion Iraqi dinars.”

He added, "As for the situation at the end of 2024, the amount of currency issued remained at the same level of 101 trillion Iraqi dinars, and the value of official reserves decreased to 139.7 trillion Iraqi dinars."

He pointed out that "the continued decline in the actual value of the dinar will lead at some point to an increase in inflation as a result of the decline in the strength of the dinar compared to reserves alone. All this while the average price of Iraqi oil was high, so how will things turn out in the event of a decline in oil prices?"

He continued, "The impact on the value of the Iraqi dinar, despite the stability of the issued monetary mass, the decrease in the value of official reserves by 5.3 trillion Iraqi dinars led to a decline in the purchasing power of the dinar, and as a result of this decrease in reserves, the actual value of the Iraqi dinar decreased by 5.3%."   https://almasra.iq/113717/

124 Trillion Dinars Iraq's Revenues In 10 Months And An Expert Warns Of "Oil"

2024-12-29 Shafaq News/ The Iraqi Ministry of Finance revealed on Sunday that the size of revenues in the federal budget during ten months exceeded 124 trillion dinars, while an economic expert considered that the "excessive" dependence on oil may expose the country to economic fluctuations.

Shafaq News Agency followed the data and tables issued by the Ministry of Finance in December of this year for ten months starting from January until October of the current fiscal year, which showed that the revenues from oil decreased slightly to 88%, but it still constitutes the main resource for the general budget, indicating that the rentier economy is the basis of the country's budget.

The financial tables indicated that the total revenues for ten months of the current year amounted to 124 trillion, 659 billion, 47 million, 830 thousand, and 362 dinars, indicating that the total advances amounted to 18 trillion, 74 billion, 75 million, 887 thousand, and 751 dinars.

According to the tables, oil revenues amounted to 110 trillion, 220 billion, 945 million, and 501 thousand dinars, which constitute 88% of the general budget, while non-oil revenues amounted to 14 trillion, 438 billion, 778 million, and 884 thousand dinars, which constitute 12% of Iraq’s general budget.

For his part, economic expert Mohammed Al-Hasani said in an interview with Shafak News Agency, "This excessive reliance on oil will expose the country to macroeconomic fluctuations, and will limit any opportunity to develop policies to confront expected fluctuations."

He added, "Iraq needs to raise growth rates in the non-oil sector in order to absorb the shocks of oil prices when they decline," indicating that "in order to reduce dependence on oil, a major adjustment of the public financial situation is required based on increasing non-oil revenues, reducing current spending, and reviewing the customs tariff structure."

In March 2021, the Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, confirmed in an interview with Shafaq News Agency that the reasons for the economy remaining rentier are due to the wars and the imposition of an economic blockade on Iraq during the past era and the political conflicts we are witnessing today, which led to the dispersion of economic resources.

The continued reliance of the Iraqi state on oil as the sole source of the general budget puts Iraq at risk from global crises that occur from time to time due to the impact of oil, which makes the country turn every time to cover the deficit through borrowing from abroad or domestically, which thus indicates the inability to manage the state’s funds effectively, and the inability to find alternative financing solutions. LINK

Seeds of Wisdom RV and Economic Updates Sunday Morning 12-29-24

EGood Morning Dinar Recaps,

CRYPTO INDUSTRY CALLS ON CONGRESS TO BLOCK NEW DEFI BROKER RULES

The final regulations classifying several decentralized finance (DeFi) protocols as brokers have sparked immediate backlash within the crypto industry, with calls for the incoming Congress to overturn the new rules.

Disclosed on Dec. 27 by the US Internal Revenue Service, the new regulations treat front-end protocols facilitating digital asset transactions as brokers, requiring Know Your Customer disclosures of transactions. According to the agency, the regulations will affect up to 875 DeFi brokers.

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The new rules have sparked a widespread backlash on social media, with many legal experts suggesting that the IRS may be overstepping its authority and infringing constitutional rights.

“This unlawful rule is the dying gasp of the anti-crypto army on its way out of power. It must be struck down, either by the courts or the incoming administration,” said Jake Chervinsky, chief legal officer at venture capital firm Variant.

For Alexander Grieve, vice-president of government affairs at venture firm Paradigm, “the new pro-crypto Congress can, and should, roll these back via the CRA process next year,” he said on X.

The CRA, or Congressional Review Act, allows Congress to review and potentially disapprove of regulations issued by agencies like the IRS.

The DeFi broker definition encompasses platforms performing intermediary functions in facilitating transactions, including a group of persons facilitating transactions “whether or not the group operates through a legal entity.”

Miles Jennings, general counsel of a16z Crypto, claimed the rule represents “a fantastical expansion of the words “effectuate transactions” to enable the IRS to ban DeFi.”

According to Miles Fuller, director of government solutions at TaxBit, the definition covers any provider that knows “or is in a position to know whether the nature of the transaction involved gives rise to reportable gross proceeds from the sale of digital assets.”

Fuller explained that two specific groups are specifically excluded from the definition: validation services and wallet software providers.

Advocacy group Blockchain Association called the rule “a final attempt” to send the US crypto industry offshore. A statement by the group’s CEO, Kristin Smith, said:

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 “On behalf of the industry, we’re prepared to take aggressive action to fight back. We also look forward to working with the new pro-crypto Congress and Administration to roll back this and other anti-innovation rules.”

According to the IRS, the new regulations are expected to affect as many as 2.6 million taxpayers.

@ Newshounds News™

Source:  CoinTelegraph

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🇷🇺 Russian Foreign Minister Lavrov slams the Biden-Harris administration for Prioritizing Ukraine over US citizens.

"When the USA was hit by a hurricane, President Biden paid the victims ridiculous compensations of $700 per person while sending over $150 billion to Ukraine."

@ Newshounds News™

Source:  @BRICSNews

~~~~~~~~~

The US dollar's share of global foreign exchange reserves has dropped to its lowest level in nearly 30 years.

This is according to the International Monetary Fund.

Countries are diversifying their reserves and stockpiling gold.

This should be the top story around the world.

@ Newshounds News™

Source:  X . com

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Thank you Dinar Recaps

“Tidbits From TNT” Sunday Morning 12-29-2024

TNT:

Tishwash:  interesting time to share this info hmmmm

In numbers.. The decline in the value of the Iraqi dinar

Today, Friday (December 27, 2024), the economic expert, Manar Al-Abidi, determined how much the Iraqi dinar has lost in value.

Al-Obaidi explained in a tweet followed by "Baghdad Today" that "the value of any currency is determined based on two basic factors, which are the amount of currency issued, which is the total cash pumped by the central bank, and the size of reserves, which includes foreign currencies, investments, and gold held by the central bank."

He explained that "the situation at the end of 2023, the amount of currency issued reached 101 trillion dinars, and the value of official reserves reached 145 trillion Iraqi dinars."

Al-Obaidi added, "As for the situation at the end of 2024, the amount of currency issued remained at the same level of 101 trillion Iraqi dinars, and the value of official reserves decreased to 139.7 trillion Iraqi dinars."

He pointed out, "The impact on the value of the Iraqi dinar, despite the stability of the issued monetary mass, the decrease in the value of official reserves by 5.3 trillion Iraqi dinars led to a decline in the purchasing power of the dinar, and as a result of this decrease in reserves, the actual value of the Iraqi dinar decreased by 5.3%."

Al-Ubaidi pointed out that "the continued decline in the actual value of the dinar will lead at some point to an increase in inflation as a result of the decline in the strength of the dinar compared to reserves alone. All this while the average price of Iraqi oil was high, so how will things turn out in the event of a decline in oil prices?"  link   

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Tishwash:  Uncertainty over the 2025 budget.. Parliament: We don't know anything about it yet

 Member of Parliament Ahmed Al-Sharmani explained Thursday (December 26, 2024), that Parliament does not know anything about the 2025 budget schedules, suggesting that the government is deliberately delaying sending it.

Al-Sharmani said in an interview with "Baghdad Today", "According to the Financial Management Law, the budget or its schedules must reach the House of Representatives at the end of the month (10) of each year, and any delay in doing so is considered a legal violation, especially since this violation has been repeated for many years."

He explained that "the 2025 budget tables are not known to the House of Representatives so far, and the delay in sending them is a violation, and there is no specific date for sending those tables."

Al-Sharmani added, "Perhaps the government will link sending the tables with amending the law proposed in Parliament, and this will delay sending the tables for a long time due to disagreements over the origin of the amendment."

MP Jawad Al-Yassari confirmed on December 19, 2024, that political differences over amending the budget law will delay voting on the 2025 budget schedules, indicating that “the Iraqi government is waiting for Parliament to amend the budget law, so that it can send it the schedules for 2025 according to the amendments.”

It is noteworthy that Member of Parliament Mustafa Al-Karaawi announced on December 8, 2024, the postponement of the second reading of the amendment to the General Budget Law until after the legislative holiday.  link

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Tishwash:  Expert: Central Bank decisions threaten banking sector and stability of national economy

Researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed today, Monday, that the decisions of the Central Bank threaten the banking sector and the stability of the national economy.

Hantoush said in a statement to Al-Maalouma Agency that "the recent decisions of the Central Bank of Iraq, which included stopping the financial transfer platform (FITR) and handing over the management of the Iraqi dollar to four banks owned by investors, some of which belong to countries such as Jordan and the Gulf, constitute serious repercussions.”

He pointed out that "these policies may lead to the collapse of the Iraqi banking system and the exacerbation of economic crises, noting that more than 100,000 jobs in the private banking sector are threatened with loss in favor of foreign banks, which constitutes a major blow to banking autonomy.”

He explained that "the monopoly of the dollar by these banks will lead to difficulty in stabilizing the exchange rate and increasing volatility, which will exacerbate the economic situation and weaken competition in the banking sector."

As part of the solutions, Hantoush called for "extending the work of the money transfer platform in coordination with the new US administration, and enabling Iraqi banks to open dollar accounts in international banks such as Citibank and JP Morgan, as is the case in the countries of the region."

He also stressed the "importance of transparency and announcing the mechanisms of cooperation with Ernst & Young regarding transfers in other currencies such as the euro, yuan and dirham, in addition to revealing the results of the contract with Oliver Wyman regarding the status of the 28 sanctioned Iraqi banks."

At the end of his statements, Hantoush called for “addressing the central banks of countries such as Turkey, the Emirates, China and India to open branches of Iraqi banks in those countries, which would contribute to transforming the banking relationship from remittances to a direct commercial partnership. link

Mot.. Planning Ahead I Is!!!! 

Mot:  . I'm Dedicated to Making it Work!!! 

MilitiaMan & Crew Iraq Dinar News-Digital Transformation-Global Economic Power-USA-Imminent Suspended $ Platform

MilitiaMan & Crew Iraq Dinar News-Digital Transformation-Global Economic Power-USA-Imminent Suspended $ Platform

12-28-2024

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=mazAgAY50P0

Saturday Night “Humor While We Wait” posted by Mot at TNT

TNT:

Mot:  *The Trucker and the Witty Waitress*

One sunny morning, a rugged trucker strolled into a bustling truck stop café. His heavy boots echoed on the tiled floor as he made his way to the counter, where a cheerful blonde waitress stood, pen in hand, ready to take his order.

The trucker flashed a grin and said, “I’ll have three flat tires, a pair of headlights, and a couple of running boards.”

The waitress froze for a moment, her pen hovering midair. Was he joking? Or maybe lost? Determined to stay professional, she masked her confusion with a smile and chirped, “Coming right up!” before heading into the kitchen.

Inside, she found the cook, a burly man flipping pancakes like a pro.

“Hey,” she said, “there’s a guy out there asking for three flat tires, headlights, and running boards. Did we turn into an auto parts store?”

The cook burst into laughter, nearly dropping his spatula. “Relax, sweetheart. That’s just trucker lingo. Three flat tires are pancakes, headlights are sunny-side-up eggs, and running boards are strips of bacon. It’s their way of having fun.”

The waitress couldn’t help but laugh. “Got it. Truck-stop slang.”

She quickly got to work, carefully stacking pancakes, frying eggs to perfection, and adding crispy bacon to the plate. Just as she was about to serve the order, an idea struck her.

Grinning, she grabbed a small bowl, filled it with baked beans, and placed it on the tray. With a spring in her step, she delivered the meal to the trucker, setting it down with a big smile.

The trucker took one look at the bowl of beans and raised an eyebrow. “What’s this?” he asked.

Without missing a beat, she smirked and replied, “Well, while you’re waiting for your flat tires, headlights, and running boards, I thought you might want to gas up!”

The trucker let out a hearty laugh that filled the café, catching the attention of other diners, who couldn’t help but chuckle at her quick wit.

From that day on, the trucker became a regular, and the blonde waitress earned her reputation as the sharpest, most quick-witted queen of the truck stop.

*Moral of the story:* A little humor—and a bowl of beans—can brighten anyone’s day!

Mot:  Truisum of Today 

Mot:  . First Thing to buy 

Mot:  .... What a shame! 

Iraq Economic News and Points to Ponder Saturday Afternoon 12-28-24

The Dollar Continues To Decline Against The Dinar In Baghdad And Erbil At The Closing

Economy  | 12/28/2024  Mawazine News – Baghdad  The dollar price decreased in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday, with the closing of the stock exchange.

The dollar price also decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 151,500 Iraqi dinars for every 100 dollars, while this morning it recorded 151,600 dinars for every 100 dollars.

The selling prices stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 152,500 Iraqi dinars for every 100 dollars, while the purchase price reached 150,500 dinars for every 100 dollars.

In Erbil, the dollar also decreased, where the selling price reached 151,450 dinars for every 100 dollars, and the purchase price reached 151,350 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257973

Gold Prices Stabilize In Local Markets In Iraq

Economy  | 12/28/2024  Mawazine News – Baghdad  Gold selling prices in local markets in the capital, Baghdad, recorded stability today, Saturday, at the beginning of the last week of 2024.

The price of an ounce of gold recorded $ 2622, while the price of the 21-karat lira recorded 565 thousand Iraqi dinars, and the selling prices of the yellow metal were recorded as follows:

21-karat mithqal at 565 thousand dinars

18-karat mithqal at 485 thousand dinars

22-karat mithqal at 590 thousand dinars

24-karat mithqal at 645 thousand dinars

https://www.mawazin.net/Details.aspx?jimare=257960

Oil Prices Rise In Global Markets

Economy  | 12/28/2024  Mawazine News - Follow-up  Oil prices rose by more than 1%, achieving weekly gains amid weak trading before the end of the year, supported by a larger-than-expected decline in US crude inventories.   Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 a barrel. U.S. West Texas Intermediate crude rose 98 cents, or 1.4%, to $70.60, with both crudes up 1.4% for the week.   https://www.mawazin.net/Details.aspx?jimare=257953

Exceeding $73 Per Barrel.. Iraqi Oil Ends The Week's Trading On The Rise

Buratha News Agency1522024-12-28  At the end of trading, yesterday, Friday (December 27, 2024), Iraqi oil recorded a price increase exceeding $73 per barrel, coinciding with the rise in global crude.

According to data, Basra Heavy crude recorded $70.19 per barrel, while the average recorded $73.29 per barrel, with a change of -0.16, respectively, for February 2025 delivery.

The data also showed an increase in global crude prices, with British Brent crude recording $74.17, while US West Texas Intermediate crude recorded $70.60 per barrel, with a change rate of +0.98 and +0.90, respectively.    https://burathanews.com/arabic/economic/454352

More Than A Billion Dollars In Sales From The Central Bank Of Iraq In 4 Days

Banks  Economy News – Baghdad  The total sales of hard currency in US dollars by the Central Bank of Iraq during the days in which the auction was opened during the past week amounted to more than one billion dollars.

During the past week and for the 4 days in which the auction was opened, the Central Bank sold 1 billion, 67 million, 584 thousand, and 729 dollars, at a daily rate of 291 million, 196 million, and 182 dollars, higher than the previous week, when the selling rate reached 289 million, 134 thousand, and 990 dollars.

The Central Bank auction opened its doors on Sunday, Monday, Tuesday and Thursday, after being closed during the official holidays last week, which included Friday, Saturday and Wednesday.

The highest dollar sales were on Monday, when sales reached 296 million, 151 thousand, and 962 dollars, while the lowest sales were on Sunday, when sales reached 284 million, 696 thousand, and 947 dollars.

Foreign remittance sales during the past week amounted to 1 billion, 67 million, 537 thousand, and 979 dollars, an increase of 95% compared to cash sales, which amounted to 46 million, 750 thousand dollars.

82 views  Added 12/28/2024 - https://economy-news.net/content.php?id=51366

Iraq Is The World's First In The Density Of Natural Resources.. A New Vision For Investing Resources

Time: 2024/12/28 Read: 1,118 times  {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed a new vision for investment in materials in Iraq.

Saleh told {Euphrates News} that: “What the economic policy in our country is looking forward to is thinking outside the box and providing sustainability in the current account surplus of the Iraqi balance of payments through investment expansion in natural resources, manufacturing them and making them ready for export in a way that provides returns that help establish a sovereign wealth fund.”

He added, “The most appropriate model is to generate a sovereign wealth fund {directing its investments towards internal opportunities} and according to a different vision; since our country is ninth in the world in terms of the diversity of its natural resources in the ground and first in the world in terms of the concentration of wealth per square kilometer.”   LINK

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

3 Things To Sell To Pay Off Holiday Credit Card Debt

3 Things To Sell To Pay Off Holiday Credit Card Debt

Andrew Lisa  Sat, December 28, 2024  GOBankingRates

If your generous nature outperformed your budget this holiday season, hopefully you’re anticipating a year-end bonus to cushion the blow. If not, look around — your ticket out of a post-holiday financial fiasco might be hiding among your household clutter.

The most common advice is to sell things like vinyl records, trading cards, comic books and classic toys. The problem is that those kinds of collectibles tend to carry significant sentimental value and — unless they’re truly rare, unique and pristine — are usually rendered next to worthless by the law of supply and demand.

However, the following items could have enough real-world resale value to break your financial fall without forcing you to part with long-held favorites that mean something to you.

Unwanted Furniture

If you have to sell your bed to pay the bills in January, even if it means sleeping on the floor through the spring, you probably spent too much on the holidays.

But if you have furniture collecting dust in an attic, basement, unused office or outdated room, think twice before you kick it to the curb with a handwritten “free” sign taped to it.

Here are three ways to convert furniture into cash.

A Hidden Gem Could Bring a Windfall

Furniture is no different than baseball cards, Fabergé eggs or any other collectors’ items. Its value is tied to its rarity, age, condition, maker and status among buyers, and it’s worth whatever someone is willing to pay for it.

If you happen to stumble upon a gem, you could get anywhere from a few hundred bucks to, in the case of the Guinness record-holding 18th-century Italian Badminton cabinet, $36.66 million.

Don’t hold your breath for the latter, but do keep your eyes peeled for the former. Try to identify the wood type, style, period, condition, quality and maker’s mark, according to Decorative Collective. If you think you’ve got something, use sites like Ask Antique Experts and Value My Stuff to get a quick online appraisal.

A Little Restoration Can Steer Double-Digit Prices to Triple or Beyond

If you find a priceless antique Chippendale chair hiding in your attic, the last thing you want to do is alter it. However, you can add value to well-made but inconsequential furniture with a little basic DIY restoration and renewal.

Authorities like Home Depot offer simple tutorials that most people can use to improve a piece for sale, and Amazon sells highly rated DIY kits that include most of what you’ll need for around $20.

With a little effort, you can list your shiny like-new piece on a platform like Etsy, Facebook Marketplace or AptDeco for more than you could have without the elbow grease.

Esty users routinely sell refinished furniture ranging from the high hundreds to well into the thousands.

TO READ MORE:  https://www.yahoo.com/finance/news/3-things-sell-pay-off-120010153.html

More News, Rumors and Opinions Saturday Afternoon 12-28-2024

KTFA:

Clare:  Iraq is the world's first in the density of natural resources.. A new vision for investing resources

12/28/2024

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed a new vision for investment in materials in Iraq.

Saleh told {Euphrates News} that: “What the economic policy in our country is looking forward to is thinking outside the box and providing sustainability in the current account surplus of the Iraqi balance of payments through investment expansion in natural resources, manufacturing them and making them ready for export in a way that provides returns that help establish a sovereign wealth fund.” 

He added, “The most appropriate model is to generate a sovereign wealth fund {directing its investments towards internal opportunities} and according to a different vision; since our country is ninth in the world in terms of the diversity of its natural resources in the ground and first in the world in terms of the concentration of wealth per square kilometer.”  Raghad  LINK

Judy Byington:

Fri. 27 Dec. 2024 Nine new countries will officially join BRICS as partner countries (not full members) on January 1, 2025.

Belarus
Bolivia
Cuba
Indonesia
Kazakhstan
Malaysia
Thailand
Uganda
Uzbekistan

Tues. 24 Dec. 2024: Major banks hit by outages in Christmas Eve disaster. The Big Four bank confirmed ‘intermittent issues’ had been reported on its goMoney app and internet banking services. https://www.msn.com/en-us/money/companies/major-banks-hit-by-outages-in-christmas-eve-disaster/ar-AA1woA8c?rc=1&ocid=socialshare&cvid=4fcd4c97c0c84799d3ca4848628e76e0&ei=19

https://dinarchronicles.com/2024/12/28/restored-republic-via-a-gcr-update-as-of-december-28-2024/

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

Frank26  [Iraq boots-on-the-ground report]  FIREFLY: Mr Sammy...the key here will be when the auctions stop and we feel like it will be either the 28th or the 29th.  The dollar may jump up some due to traveling at this time but soon we should see the lower notes and the new rate.

Bruce   [via WiserNow]  ...we did hear from a group of very informed individuals that are part of this process...They're part of the release. They said the release is coming very shortly...What does it mean? ...Well, in this case, it means a couple of days. Releases are coming very shortly...It's coming...what I've heard since then and these were extremely valuable people that were bringing this to us... the highest of the high...we are looking for a green light from treasury/slash/Wells Fargo to release this to us over the next couple of days...Let's see what happens over the weekend.

Golden Shifts: Privacy and Wealth in a Changing World with Dr. Nomi Prins (Little By Little)

Andy Schectman:  12-27-2024

In this engaging interview, Andy Schectman sits down with Dr. Nomi Prins, a renowned macro-economist, geopolitical financial expert, and best-selling author. Dr. Prins is the founder of Prinsights Global, a company specializing in geopolitical financial and macro-economic analysis, and creator of its flagship research product, *Prinsights Pulse*.

This thought-provoking conversation delves into the complexities of the global economy, the financial system's evolution, and the strategic forces shaping our world. It’s an essential watch for anyone seeking a deeper understanding of the intersection between macroeconomics and geopolitical dynamics.

https://www.youtube.com/watch?v=98oWQ6Ovm-Q

Stock Market at Breaking Point, What Gets Gold to $4k?

Stock Market at Breaking Point, What Gets Gold to $4k?

Kitco News: 12-27-2024

As 2024 draws to a close, financial markets find themselves at a historic crossroads.

Gold has surged to unprecedented heights, breaching the $3,000 mark for the first time, while Bitcoin has crossed the elusive $100,000 threshold.

This dramatic rise in value has left investors and analysts alike pondering the implications for 2025.

 In an exclusive interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, provides valuable insights into the current state of these markets and the macroeconomic factors at play.

Gold’s ascent is not merely a reflection of its status as a safe haven asset; it has broader implications for the global economy. According to McGlone, the fact that gold has breached $3,000 could signal significant economic shifts.

“Historically, when gold reaches such levels, it often indicates rising inflation, heightened geopolitical tensions, or a loss of confidence in fiat currencies,” he explains. As central banks worldwide embark on a rate-cutting spree, the demand for gold as a hedge against currency devaluation is likely to grow.

Bitcoin’s meteoric rise to over $100,000 raises questions about sustainability. While McGlone acknowledges the cryptocurrency’s growing acceptance and institutional interest, he also cautions against potential volatility.

Key drivers behind Bitcoin’s strength include increased adoption by major financial institutions, ongoing technological advancements, and a burgeoning interest in decentralized finance. However, investors must remain vigilant as the landscape evolves.

The current macroeconomic environment is fraught with challenges, including geopolitical tensions and concerns over stagflation—the combination of stagnant economic growth and rising inflation. McGlone emphasizes the importance of diversification in an uncertain landscape.

Moreover, the prospect of de-dollarization poses a threat to the U.S. dollar’s dominance in global trade.

As we look to 2025, the financial landscape is likely to be shaped by the repercussions of 2024’s unprecedented market movements. Investors will need to be prepared for increased volatility and shifting market dynamics. McGlone suggests that a focus on asset allocation, risk management, and a keen understanding of macroeconomic indicators will be crucial in navigating the year ahead.

In conclusion, 2024 has been a historic year for financial markets, with gold and Bitcoin reaching remarkable new heights. The implications for 2025 are profound, with potential economic shifts that could impact investors globally.

As McGlone aptly puts it, “Staying informed and adaptable will be key to successfully navigating the uncertainties of the coming year.” Don’t miss this essential interview as we delve into the future of financial markets and what lies ahead for investors in 2025.

https://youtu.be/yVIA19_HdOI