Seeds of Wisdom RV and Economic Updates Monday Morning 12-30-24
Good Morning Dinar Recaps,
BRICS NEWS: DE-DOLLARIZATION WILL CONTINUE FASTER UNDER TRUMP’S WATCH
President-elect Donald Trump threatened BRICS countries of imposing 100% tariffs on goods entering the US if they pursue the de-dollarization agenda. The rhetoric came even before he officially took office indicating that a trade war would commence during his four-year tenure. Developing countries are guarding their economies against sanctions, as the White House has been imposing them for more than a decade.
Good Morning Dinar Recaps,
BRICS NEWS: DE-DOLLARIZATION WILL CONTINUE FASTER UNDER TRUMP’S WATCH
President-elect Donald Trump threatened BRICS countries of imposing 100% tariffs on goods entering the US if they pursue the de-dollarization agenda. The rhetoric came even before he officially took office indicating that a trade war would commence during his four-year tenure. Developing countries are guarding their economies against sanctions, as the White House has been imposing them for more than a decade.
The Director of the Institute of Social Sciences, Ash Narain Roy, said that Trump’s threats to BRICS will not work. Roy explained that Trump is carried away by his victory and is unable to see the ground below his feet. Emerging economies have progressed even after ending dependency on the US dollar as their local currency is gaining prominence. The de-dollarization initiative started by BRICS will continue even in the Trump era, he said.
BRICS: Trump Carried Away by Victory, De-Dollarization To Continue
Roy stressed that Trump’s 100% tariff threats will not affect any country but will directly harm the US. If exporters pay 100% tariffs, they will hike the prices, and US importers will place the surge on the consumers. It is the end user who will eventually fit the bill leading to inflation. BRICS will not back down on de-dollarization but could continue the process faster under Trump.
“He has views on everything and exchange views and all that. So not taking it seriously at all,” said Roy. The expert also called Trump’s rhetoric empty. “This will not affect any country,” he added.
The BRICS alliance made it clear that the de-dollarization agenda remains their long-term goal. The bloc will not slow down if Trump takes office but will fast-track the process. The sanctions and threats led to the de-dollarization agenda taking shape in the first place. If Trump’s rhetoric on trade and tariffs grows, developing countries will only side with BRICS to protect their economies.
@ Newshounds News™
Source: Watcher Guru
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DIGITAL IDS AND FINANCIAL SERVICES COLLABORATION STRENGTHEN PROACTIVE FRAUD PREVENTION
As payments become faster, fraudsters hide behind anonymity or concoct identities that seem legitimate, and then scam banks, merchants and individuals out of their money.
Among the most effective ways of stopping would-be criminals in their tracks is using advanced technologies and collaboration to spot red flags before the money ever leaves an account — to take action, in other words, upstream.
Data — from continuous verification to location to device-level details — is critical, and real-time analysis can help block fraudulent transactions.
In the United Kingdom, language contained in the November release of the government’s National Payments Vision noted: “For open banking to scale and help deliver more competition and innovation in the market, it needs to transition to a sustainable long-term regulatory framework.”
“The U.K. has put in place strong consumer protections for fraud, including through reimbursement of authorized push payment fraud as mandated by the Payment Systems Regulator,” the Treasury added in the whitepaper. “While this regime provides a critical safety net for consumers, it introduces new risks for firms to manage.”
Four financial authorities in the U.K. said last week that they are working to improve their cooperation and will revise their agreement as the government pursues its National Payments Vision. The financial regulators include the Bank of England, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR).
Increased Embrace of Digital Payments
In discussion of the overall shift to digital, stats cited in the paper detailed that contactless payments have increased from 3% of all transactions in 2015 to 38% in 2023, and digital wallets have gained in popularity.
The PYMNTS Intelligence report “Digital Wallets Beyond Financial Transactions: U.K. Edition” found that 77% of U.K. consumers have at least one digital wallet, and 44% of consumers online conduct commerce via digital wallet transactions.
To get a sense of the financial impact, banks and financial services firms in the U.K. are required to reimburse the victims of authorized push payment (APP) fraud up to 85,000 pounds (about $106,000). APP fraud cost U.K. residents $433 million in 2023.
@ Newshounds News™
Read more: Pymnts
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MilitiaMan & Crew Iraq Dinar News-Dollar Auction by End of 2024-USA Security Inplace-Circulation Banknotes-Metals
MilitiaMan & Crew Iraq Dinar News-Dollar Auction by End of 2024-USA Security Inplace-Circulation Banknotes-Metals
12-29-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew Iraq Dinar News-Dollar Auction by End of 2024-USA Security Inplace-Circulation Banknotes-Metals
12-29-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
FRANK26….12-29-24……COUNTDOWN AT 1
KTFA
Sunday Night Conference Call
FRANK26….12-29-24……COUNTDOWN AT 1
This video is in Frank’s and his team’s opinion only
Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
KTFA
Sunday Night Conference Call
FRANK26….12-29-24……COUNTDOWN AT 1
This video is in Frank’s and his team’s opinion only
Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE
More News, Rumors and Opinions Sunday PM 12-29-2024
TNT:
Tishwash: Goodbye dollar auction.. Central Bank announces the end of 20 years of billions and suspicions
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.
TNT:
Tishwash: Goodbye dollar auction.. Central Bank announces the end of 20 years of billions and suspicions
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.
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.” link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 This is extremely important you understand this. It is projected at the end of this month on the 31st that the auctions will come to an end. Therefor the next day the citizens of Iraq will be looking for something to use. They will demand a dollar because that's all they know and they will be rejected. The demand for the dollar will increase. The black market value will increase for the dollar (which is not official, which has no meaning, no value to the CBI). But for at least maybe until the 7th. Why? Because on the 7th Sudani has ordered parliament to finish and sign off everything on the budget. If not he'll take care of it...One week of bubble. That makes sense. I like it.
Militia Man Article quote: "Issuing money can help provide the economy with liquidity which can prove economic growth and innovation." Sounds about where Iraq is headed, right? However, if not managed carefully the government's directly issuing can lead to inflation." Inflation is the consequence of not playing by the rules as we all know. Why would Alaq be talking about this? ...The exchange rate change is likely to be coming because they're going to have something that supports the ability to do all of this and they have the United States...and the coalition on board for it and you probably have the Bank of International Settlements...World Bank...IMF...UN...okay with it [too].
Get As Much Silver As Possible - Here's Why | Jon Forrest Little
Liberty and Finance: 12-28-2024
Historian and precious metals expert Jon Forrest Little discusses the historical significance of gold and silver as money, the current state of the monetary system, and the implications of fiat currency.
He emphasizes the importance of precious metals as a hedge against economic instability and shares insights on the current precious metal market, advocating for the accumulation of silver as a strategic investment.
The discussion also touches on the broader economic landscape, including the hollowing out of the U.S. economy and the potential future of fiat currencies.
INTERVIEW TIMELINE:
0:00 Intro
1:20 Monetary history & today
14:13 When will the Dollar collapse?
22:40 Using silver as money
27:38 Metals in 2025
Iraq Economic News and Points to Ponder Sunday Afternoon 12-29-24
The Central Bank Of Iraq Sells 296 Million 396 Thousand 196 Dollars In Today's Auction
Sunday 29 December 2024 | Economic Number of readings: 134 Baghdad / NINA / The Central Bank of Iraq sold 296 million, 396 thousand, and 196 dollars in today's auction.
It said in a statement that it sold 296 million, 396 thousand, and 196 dollars in its auction today, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.
The Central Bank Of Iraq Sells 296 Million 396 Thousand 196 Dollars In Today's Auction
Sunday 29 December 2024 | Economic Number of readings: 134 Baghdad / NINA / The Central Bank of Iraq sold 296 million, 396 thousand, and 196 dollars in today's auction.
It said in a statement that it sold 296 million, 396 thousand, and 196 dollars in its auction today, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.
It explained that most of the dollar sales went to strengthen balances abroad in the form of transfers and credits amounting to 268 million, 496 thousand, and 196 dollars, at a rate of 90% compared to cash sales amounting to 27 million and 900 thousand dollars.
One bank bought cash dollars, while the number of banks that met requests to enhance balances abroad was 14 banks, and the total number of exchange companies participating in the auction was 43 companies. / End7 https://ninanews.com/Website/News/Details?key=1177233
The Central Bank Of Iraq Records Significant Growth In Gold Reserves And Achieves Positive Results In The Economy
Economy | 12/29/2024 Mawazine News – Baghdad The Central Bank of Iraq announced today, Sunday, that it recorded a significant growth in the country's gold reserves, as the growth in reserves reached 57% in the third quarter of 2024 compared to the same period in 2023.
The bank stated that the total value of gold reserves reached 16.8 trillion dinars, compared to 10.7 trillion dinars last year.
In the same context, the bank indicated that annual inflation rates in Iraq were among the lowest in the region during the months of August and September of 2024, as the inflation rate recorded 3.7% and 3.1%, respectively, reflecting price stability and the success of the monetary policy pursued in Iraq.
The bank indicated that the total deposits in banks operating in Iraq recorded a growth of 4.2% in the third quarter of 2024, reaching 127.6 trillion dinars compared to 122.4 trillion dinars in the same year of 2023.
Cash credit granted by public banks also recorded a growth of 11.6%, reaching 72.7 trillion dinars compared to 65.1 trillion dinars in the same period last year.
The statement also included the growth of deposits and cash credit in private banks, as deposits recorded a growth of 14%, and cash credit grew by 15.1% in the same period.
The money supply in Iraq also recorded a growth of 4.1% in the third quarter of 2024, reaching 158.6 trillion dinars, while the broad money supply recorded a growth of 3.3% to reach 179.8 trillion dinars.
The Central Bank confirmed that these results indicate the success of monetary policy in enhancing economic stability in Iraq and increasing confidence in the financial and banking system. https://www.mawazin.net/Details.aspx?jimare=258020
Dollar Prices Drop In Baghdad And Erbil At The End Of Trading
Economy | 05:04 - 12/29/2024 Mawazine News – Economy The US dollar exchange rate fell against the Iraqi dinar on Sunday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,350 dinars per 100 dollars, while this morning it recorded 151,400 dinars per 100 dollars.
Selling prices stabilized in exchange shops in local markets in Baghdad, where the selling price reached 151,500 dinars per 100 dollars, while the purchase price reached 150,500 dinars per 100 dollars.
In Erbil, the dollar also fell, where the selling price reached 151,300 dinars per 100 dollars, and the purchase price reached 151,200 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258023
Gold Prices Fall In The Capital Baghdad
Economy | 12:48 - 12/29/2024 Mawazine News – Baghdad Gold prices witnessed a decrease in the wholesale markets of Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 556 thousand dinars, and the purchase price was 552 thousand.
The selling price of one mithqal of 21 karat Iraqi gold was recorded at 526 thousand dinars, and the purchase price was 522 thousand.
In goldsmiths’ shops, the selling price of one mithqal of 21 karat Gulf gold ranged between 560 thousand and 570 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 530 thousand and 540 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=258010
Central Bank Of Iraq Announces Monetary Policy Indicators During 2024
Economy | 12/29/2024 Mawazine News – Baghdad The Central Bank of Iraq revealed, today, Sunday, the positive indicators achieved by the bank for the third quarter of 2024 compared to the same quarter of 2022 and 2023, stressing that this reflects the success of the monetary policy adopted by the bank during 2024.
The Central Bank of Iraq confirmed, in a statement received by (Mawazine News), "the total deposits in banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, as their value amounted to (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023, in contrast, the cash credit granted by public banks recorded a growth of (11.6%) in the third quarter of 2024, as its value amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023."
The bank stated that "deposits in private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, as their value amounted to (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023, while cash credit granted by private banks achieved a growth of (15.1%) in the third quarter of 2024, as its value amounted to (12.2) trillion dinars, compared to its value of (10.6) trillion dinars in the third quarter of 2023, noting that these rates reflect the increased confidence of economic units in private banks operating in Iraq."
He added, "Private sector deposits in banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, as their value amounted to (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023, indicating that cash credit granted to the private sector by banks operating in Iraq achieved a growth of (8.6%) in the third quarter of 2024, as its value amounted to (42..trillion dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023, stressing that this increase reflects the increased confidence of the private sector in banks operating in Iraq."
The bank revealed that "the narrow money supply 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, while the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024, as its value reached (179.trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023."
He added that "the gold reserves of the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, as its value reached (16. trillion dinars, compared to its value of (10.7) trillion dinars in the third quarter of 2023."
He stressed that "the 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 percentage is acceptable at (3.7%) and (3.1%) respectively, and this reflects price stability and the success of monetary policy in Iraq." https://www.mawazin.net/Details.aspx?jimare=258016
Iraq's Oil Exports To America Increased Last Week
Sunday 29 December 2024 | Economic Number of readings: 205 Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America rose during the past week to reach an average of 229 thousand barrels per day.
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The administration said in a table, "The average US imports of crude oil during the past week from 9 major countries amounted to 5.844 million barrels per day, down by 302 thousand barrels per day from the previous week, which amounted to 6.146 million barrels per day."
It added that "the average of Iraq's oil exports to America amounted to 229 thousand barrels per day last week, up by 20 thousand barrels per day from the previous week, which averaged 209 thousand barrels per day."
The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Mexico, Saudi Arabia, and then Brazil."
According to the table, "the amount of US imports of crude oil from Nigeria, Ecuador, Venezuela, and Libya continues." / End https://ninanews.com/Website/News/Details?key=1177199
The Central Bank Allows The Arab Bank Of Iraq To Practice Banking Work
Banks Economy News – Baghdad The Central Bank of Iraq has agreed to grant the Arab Bank of Iraq the final license to practice banking.
According to a document issued by the bank, and reviewed by "Al-Eqtisad News", "Based on the decision of the Board of Directors of this bank No. (269) in its session No. (1662) held on 12/22/2024, it was decided to approve granting your bank the final license No. (15546/4/9) on 12/24/2024, to practice banking work attached in connection with the Central Bank of Iraq Law No. (56) of 2004 and the Banking Law No. (94) of 2004 and the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015, taking into consideration completing the capital increase to the prescribed limit of (400) billion dinars, noting that the code number for your bank is (88)." Below is the document: 157 views 12/29/2024 https://economy-news.net/content.php?id=51401
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
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.
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.
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.”
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.
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!
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?!
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
Good 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.
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
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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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“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."
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……..
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……..