Iraq Economic News and Points to Ponder Wednesday AM 1-1-25

The Dinars Entering The Finances Are 20% Less Than The Amount They Need.. Iraqis Start Their New Year With Anxiety About Salaries

 Economy      2024-12-31 | 3,743 views  Alsumaria News   More than 6 days have passed since the supposed date for the release of employee salaries, while   fears are mounting with the possibility of the salaries of Iraqi retirees being delayed as well, while the date of their salaries will coincide with holiday tomorrow.

the New Year  Iraqi employees often receive their monthly salaries no later than the 25th to 27th of the month, but  the current month ended today, and  there are still no indications of the possibility of disbursing salaries, as salaries were released in “installments” for some categories, ministries and departments and not others, due to the lack of liquidity.

That is, the Ministry of Finance does not have the Iraqi dinar in its coffers.

 This matter prompted the Ministry of Finance to issue a “denial” statement,

 but the denial appears to be a denial of “the inability to release salaries,” and not a denial of their delay, as the Ministry said in a statement that

 “the information circulating through social media claims an apology for disbursing the salaries of state employees for this month.” Due to a lack of liquidity, it is completely incorrect and has nothing to do with reality.” She added:

 "We are fully committed to the process of financing employee salaries, as the Accounting Department has financed salary entitlements to ministries, governorates, and unrelated entities for the current month of December according to the schedules specified for each of them, and

 it is continuing its efforts to ensure the continuity of disbursing financial dues without any delay or interruption."

 It is clear that the Ministry only denied that “it was not possible to disburse salaries this month,” and did not deny the existence of a shortage of liquidity or a delay in disbursing salaries.

The problems of delaying the disbursement of salaries began to appear more than once during the past few months, with the increase in spending requirements compared to the revenues entering the state.

 For example, current spending alone alone during the past ten months amounted to more than 91 trillion, excluding investment spending, that is, an average.

 More than 9 trillion dinars per month are needed by the Ministry of Finance to ensure current spending such as salaries and other mandatory requirements.

 On the other hand, Central Bank data show that the Ministry of Finance last November sold only $4.4 billion, equivalent to 5.8 trillion dinars, to the Central Bank.

 As for non-oil revenues, they average 1.4 trillion dinars per month, according to Ministry of Finance data, which means that the total non-oil and oil revenues resulting from the sale of the dollar to the Central Bank amount to 7.2 trillion dinars, while what is required is more than 9 trillion dinars per month.

Accordingly, this means that there is a 20% deficit in the funds required for the obligatory monthly current expenses,

 which makes the Ministry of Finance unable to collect all the funds at one time for the purpose of releasing the salaries of all ministries at the same time, as was the case previously, and it proceeded to release them in “installments,” and whenever It gradually became liquid.

 Member of the Parliamentary Finance Committee, Jamal Cougar, says that the liquidity shortage crisis will continue in 2025, and

 if the price of a barrel of oil falls to $60, we will not be able to secure employee salaries.   

  https://www.alsumaria.tv/news/economy/511383/الدنانير-الداخلة-للمالية-أقل-بـ20-من-المبلغ-الذي-تحتاجه-العراقيون-يبد     

Iraq Ends Dollar Auction Platform: Economic Transformation And New Challenges

  Jawad Al-Samarraie December 30, 2024 Packs of US dollars and Iraqi dinars. Photo: Pukmedia

 Baghdad (IraqiNews.com) – As Iraq steps into 2025, a pivotal change is set to reshape its financial landscape.

The Central Bank of Iraq has announced the termination of its electronic platform for monitoring foreign currency movements and transfers.

While experts have hailed this decision as a “bold step” with significant economic and regulatory implications,

the move also raises concerns about potential challenges that could disrupt the country’s financial stability.

Why End The Dollar Platform?

 The electronic platform, established in early 2023, served as a mechanism to monitor foreign currency transactions, ensuring compliance with international standards.

 However, the Central Bank of Iraq intends to decentralize currency transfers by allowing local banks to engage directly with correspondent banks abroad.

 This shift aims to streamline operations, enhance transparency, and reduce dependency on intermediary systems like the Federal Reserve’s oversight.

According to Kadhim Al-Shammari, a member of Iraq’s Parliamentary Economic Committee,

the platform was a temporary solution to manage the economic chaos and legal loopholes that plagued Iraq’s financial system. Al-Shammari emphasized that

while the Central Bank’s core role is to preserve monetary reserves and stabilize exchange rates, selling dollars should remain the purview of private banks.

However, this transition must be accompanied by stringent regulations to ensure responsible currency distribution.

Potential benefits of ending the platform

 Nawar Al-Saadi, an international economic expert, highlights the advantages of this decision:

  1.  Enhanced transparency: Decentralizing transactions could promote more straightforward and transparent dealings between local and correspondent banks.

 2.   Cost Reduction: Eliminating the platform’s maintenance expenses could save significant resources for the Central Bank.

 3.   Direct international compliance: By adhering to global banking standards, Iraq can reduce bureaucratic barriers and foster stronger financial relationships with foreign institutions.

 4.   Efficient financial operations: Simplified processes can reduce delays in currency transfers, benefiting traders and importers.

 The Central Bank’s strategic shift also aligns with its efforts to diversify currency usage, facilitating trade with key partners like China, India, and the UAE using alternative currencies such as the euro, yuan, and rupee.

 Challenges And Risks

Despite its merits, the decision to end the platform is fraught with challenges:

1.   Increased black market activity: Economic experts warn that the absence of robust mechanisms could push traders towards unregulated markets, driving up exchange rates.

 2.   Limited bank participation: Only five out of Iraq’s 60-70 banks have the capacity to handle direct international transfers, which may create bottlenecks and operational delays. 

3.   Inflation risks: A rise in exchange rates could elevate import costs, triggering inflation and reducing purchasing power for Iraqi citizens.

 4.   Economic uncertainty: Traders reliant on the platform may face disruptions, potentially slowing commercial activity and increasing unemployment in import-dependent sectors.

 Adil Al-Alawi, head of the Iraqi Economic Alliance, underscores the importance of implementing rapid regulatory measures and capacity-building initiatives to mitigate these risks.

 The lack of effective oversight could exacerbate financial crimes, including money laundering and tax evasion, tarnishing Iraq’s global economic reputation.

Expert Recommendations

 To ensure a smooth transition, financial analysts propose the following:

 1.   Gradual implementation: Phasing out the platform while providing adequate training and resources for local banks to adapt.

 2.   Enhanced oversight: Establishing strict regulatory frameworks to monitor dollar distribution and curb illicit activities.

3.   Market stability measures: Increasing dollar availability through official channels to reduce reliance on parallel markets.

4.   Public awareness campaigns: Educating traders and importers about the new system to minimize confusion and resistance.

 Central Bank’s Roadmap

 In a statement issued in September 2024, the Central Bank reassured stakeholders about its comprehensive plan to transition to the new system.

 By the end of 2024, 95% of foreign currency transactions had already shifted from the platform to direct banking channels, with only 5% remaining to be integrated.

 The Bank also introduced alternative mechanisms, such as facilitating personal transfers through electronic payment systems and ensuring dollar availability for legitimate purposes at official exchange rates.

 Looking Ahead

 Iraq’s decision to end the dollar platform marks a significant milestone in its economic reform journey.

 While the move promises long-term benefits, its success hinges on meticulous execution, robust oversight, and proactive stakeholder engagement.

 By addressing potential challenges and leveraging international banking best practices, Iraq can strengthen its financial resilience and pave the way for sustainable economic growth.

 As 2025 unfolds, all eyes will be on Iraq’s financial sector to assess the real impact of this bold initiative.

 The outcome will not only shape Iraq’s domestic economy but also influence its standing in the global financial arena.     https://www.iraqinews.com/business/iraq-ends-dollar-auction-platform-economic-impact/     

Arab Bank Group Gains Approval To Relaunch Operations In Iraq Starting 2024

  Business Iraq Jawad Al-Samarraie December 30, 2024

Arab Bank Group Relaunch In Iraq   Baghdad (IraqiNews.com) – Arab Bank Group has received final approval from the Iraqi Central Bank on December 24, 2024, to relaunch its banking operations in Iraq.

 The bank is set to begin its official activities in the new year, marking a significant development in the Iraqi financial landscape.

 This move highlights Arab Bank’s ambition to expand its footprint in the Arab region and strengthen external investments,  making Iraq a pivotal market in its broader strategy.

 Arab Bank’s History And Legacy

 Arab Bank’s approval to operate in Iraq brings back an institution that has a rich legacy in the country.

 The bank previously operated four branches in Iraq from 1945 to 1964, serving as a cornerstone for Iraq’s financial development during that time.

 Arab Bank was founded in 1930 by Abdul Hameed Shoman in Jerusalem, Palestine, with an initial capital of £15,000 and seven shareholders.

 Following the events of 1948, the bank moved its headquarters to Amman, Jordan, where it became a publicly traded company.

 During the 1940s and 1950s, Arab Bank expanded rapidly, establishing 43 branches across the Arab world and beyond.

 In 1961, the bank achieved another milestone by becoming the first Arab financial institution to establish a presence in Switzerland.

 Today, Arab Bank operates over 500 branches worldwide, making it one of the most influential financial institutions in the region.

 A Promising Step For Iraq’s Banking Sector

 The re-entry of Arab Bank into Iraq signifies the increasing appeal of Iraq’s financial market to international and regional investors.

 The bank’s presence is expected to enhance the Iraqi banking sector by introducing modern financial practices and fostering increased economic activity.

 This development not only strengthens Iraq’s financial infrastructure but also provides a gateway for other Arab and global institutions to invest in the country.

Looking Ahead

Arab Bank’s return to Iraq marks a promising step forward for the country’s banking and economic development.

 As Iraq continues to rebuild and attract foreign investment, Arab Bank’s role will be critical in fostering financial collaboration and regional integration. 

  https://www.iraqinews.com/business/arab-bank-relaunches-iraq-2024/     

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-1-25

Happy New Year Dinar Recaps,

80% OF JAPANESE BANKS TO ADOPT XRP BY 2025: A GAME-CHANGER FOR FINANCE

Japan’s financial sector is undergoing a transformative shift as nearly 80% of the nation’s banks plan to integrate XRP into their systems by 2025.

This groundbreaking move is expected to redefine cross-border payments and remittances while advancing blockchain technology adoption in mainstream finance.

Yoshitaka Kitao, CEO of SBI Group, a prominent financial institution in Japan, has voiced strong support for XRP, emphasizing its utility in international remittances. He highlighted RippleNet’s growing adoption and XRP’s role in enhancing transaction efficiency. Unlike Bitcoin, which Kitao describes as lacking inherent value, XRP’s utility-driven demand underscores its long-term potential.

This initiative is particularly significant for Japan, a country with a sizable expatriate and migrant worker population that relies heavily on remittances. XRP’s integration promises to streamline cross-border transactions, offering faster, cheaper, and more reliable financial solutions.

Economic and Institutional Impact of XRP Adoption

Japan’s adoption of XRP could serve as a global model for blockchain-based financial systems. With one of the world’s largest economies leading the charge, other countries may follow suit. Western nations have already begun regulating cryptocurrencies more rigorously, signaling a broader shift toward institutional adoption of blockchain solutions.

The integration of XRP also has the potential to drive financial inclusion. By reducing remittance costs, it can empower individuals in underbanked regions, creating a ripple effect of economic opportunities. Furthermore, as institutional investment in XRP increases, its mainstream acceptance is poised to grow, further legitimizing blockchain-based financial models.

XRP’s Role in Global Financial Transformation

Ripple’s On-Demand Liquidity (ODL) network, which leverages XRP for seamless cross-border payments, continues to expand globally. This network has already positioned XRP as a vital player in the future of finance. If other countries adopt similar models, XRP’s utility and market value could experience significant growth.

While the exact number of Japanese banks implementing XRP by 2025 remains uncertain, the current trajectory indicates a profound transformation in Japan’s banking landscape. As global financial systems evolve, XRP is cementing its role as a cornerstone of blockchain-enabled finance.

Daily Technical Outlook: XRP/USD – December 31, 2024

XRP/USD is trading at $2.03054, up 0.64%, reflecting a cautious recovery amid ongoing bearish sentiment. The pivot point at $2.14005 serves as a critical level. Immediate resistance is seen at $2.17118, with further barriers at $2.35413 and $2.51623. On the downside, immediate support is at $2.01000, with deeper protection at $1.95654 and $1.79139.

Technically, XRP remains under pressure, trading below the 50 EMA at $2.14005, indicating bearish momentum. The RSI at 37.43 hovers in the oversold zone, hinting at potential consolidation before a breakout. A descending triangle pattern dominates the 4-hour chart, suggesting a continuation of the downtrend unless prices break decisively above $2.17118.

While a sustained breakout above $2.17118 could spark bullish momentum, failing to hold above $2.01000 may accelerate declines toward $1.95654. Traders should monitor these levels closely as XRP approaches a decisive inflection point.

@ Newshounds News™

Source:  FX Leaders

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FOUR TRENDS THAT SHOW THE FUTURE OF CROSS-BORDER PAYMENTS

The global economy is an intricate web of transactions, and cross-border payments serve as its financial backbone.

For much of its history, that backbone has been creaky, slow and inefficient. But throughout 2024, the cross-border payments sector evolved at a breathtaking pace, driven by technological innovation and changing customer expectations, while simultaneously grounded in regulatory and compliance considerations.

Four central themes emerged throughout PYMNTS’ coverage of the space this year:  growing collaboration between FinTechs and financial institutions (FIs); the maturation of blockchain as a key cross-border rail; smarter compliance tools powered by artificial intelligence (AI) and machine learning; and the emergence of real-time payment infrastructure.

Financial Institutions and FinTechs: A New Era of Collaboration

In 2024, we witnessed a convergence and an evolution of FinTech and FI partnerships that worked to reshape the cross-border payments landscape. FIs brought the scale, infrastructure and regulatory expertise, while FinTechs contributed agility, innovation and customer-centric solutions.

“The [cross-border] space is very fragmented, and there’s a lot of opportunity for someone to emerge and dominate that space — or help banks improve the service that they offer,” Andy Elliott, vice president of strategy at EvonSys, told PYMNTS.

The convergence also signals a shift in mindset. Rather than viewing FinTechs as disruptors, FIs now see them as partners essential for navigating an increasingly digital economy. This symbiosis will likely deepen, leading to hybrid models where the lines between traditional banking and FinTech blur further.

Blockchain and Stablecoins: Building the Infrastructure of Tomorrow

Blockchain technology has long held the potential to transform cross-border payments by offering faster, more secure and cost-effective solutions. In 2024, we witnessed the maturation of this technology, with stablecoins — cryptocurrencies pegged to stable assets like fiat currencies — emerging as a viable medium for international transactions. Major players like PayPal and Circle have introduced their own stablecoins to modernize cross-border remittances and B2B transactions alike.

The PYMNTS Intelligence report “Can Blockchain Solve the Cross-Border Payments Puzzle?“ explored how blockchain could revolutionize cross-border payments, assessed its current adoption and examined the future implications for financial institutions and businesses.

Unlike traditional systems burdened by intermediaries, stablecoins offer near-instant settlement and reduced transaction costs. However, challenges remain. Regulatory clarity is uneven across jurisdictions, creating hurdles for widespread adoption. Still, the groundwork laid in 2024 suggests that stablecoins could serve as a gateway for broader blockchain adoption in cross-border payments.

The next phase? Integrating these digital assets seamlessly into existing financial systems to drive mainstream usage.

Smarter Compliance Solutions: Turning Pain Points into Opportunities

Compliance remains one of the biggest challenges in cross-border payments, particularly in a world of tightening regulations and heightened scrutiny.

“Everything’s going more cross-border and getting regulated, so tax compliance regulation is huge for new business models in new markets,” Sovos CEO Kevin Akeroyd told PYMNTS in an interview posted in April.

Faulty cross-border payments cost merchants in the United States at least $3.8 billion in sales last year alone, according to the PYMNTS Intelligence report “Cross-Border Sales and the Challenge of Failed Payments.” Additionally, 70% of U.S. firms experienced higher rates of failed payments in cross-border sales compared to domestic sales.

But 2024 marked a turning point: the rise of smarter compliance solutions powered by AI and machine learning (ML). Advanced tools now enable real-time monitoring of transactions to detect fraud, ensure anti-money laundering (AML) compliance and verify customer identities.

The result? Compliance becomes less of a bottleneck and more of a competitive advantage. As these technologies evolve, they promise to bring greater efficiency and security to cross-border transactions, paving the way for more seamless global commerce.

Instant Payments: A Global Mandate

The demand for real-time transactions has skyrocketed, fueled by the expectations of consumers accustomed to instant gratification in their personal lives. In 2024, cross-border payments worked on catching up, with innovations in instant payment infrastructure taking center stage.

For businesses, instant payments mean improved cash flow, reduced reliance on credit and enhanced supplier relationships. For consumers, they eliminate the frustration of waiting days for funds to clear. As real-time payment networks expand and interconnect, they’re likely to become one of the default mode for cross-border transactions.

Ultimately, as PYMNTS’ Karen Webster noted in an interview posted in October, any focus on cross-border innovation needs to be on solving key frictions: moving money securely and safely, providing transparency throughout the process and optimizing the economics of cross-border transactions.

@ Newshounds News™

Source:  Pymnts

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“Tidbits From TNT” Wednesday Morning 1-1-2025

TNT:

Tishwash:  Al-Hassan congratulates on the New Year: Iraq is able to overcome challenges

The representative of the Secretary-General of the United Nations in Iraq, Mohammed Al Hassan, confirmed in a message on the occasion of the New Year, today, Tuesday, that the Iraqi people have the ability to face challenges.

The Special Representative of the Secretary-General of the United Nations in Iraq congratulates the Iraqi people and government on the New Year: 

Al-Hassan said in a tweet on the {X} platform, "I congratulate the Iraqi people and the Iraqi government on the achievements made during the year 2024."

He added, "In 2024, we witnessed great achievements in development and infrastructure, and this was achieved thanks to the strong and ambitious will of Prime Minister Mohammed Shia al-Sudani's government to improve the lives of Iraqis."

Al-Hassan continued, "We have great confidence in Iraq to draw a better future," calling on the Iraqi government to "continue working sincerely to improve services throughout Iraq.

Iraq is capable of overcoming challenges and regaining its regional and international standing." link

Tishwash:  International Report: 2025 will be the largest year for projects inside Iraq

The International Data Bank, one of the international organizations concerned with monitoring the internal affairs of the countries of the world, issued its annual report for the year 2024, accompanied by estimates for the coming year 2025, confirming that the current year witnessed the issuance of the largest number of investment and service contracts inside Iraq. 

The bank said, according to its report, which was translated by "Baghdad Today", that "Iraq spent $83 billion during the year 2024 on infrastructure and reconstruction projects, and awarded contracts to implement other projects during the year 2025 worth $126 billion," expecting that "this will lead to a doubling of the growth rate of the national GDP to about 4.1% during the next year."

The bank also explained that the largest projects were the share of the country's main roads for the Ministry of Transport, which are expected to be fully completed in 2029, noting also that oil investment projects and the construction of residential complexes in Baghdad, specifically (the integrated Nasiriyah oil project and the city of Al-Rufail in Baghdad) came in second and third place as the largest government projects for the year 2024. 

The information issued by the World Bank also confirmed that the contracts awarded for the coming year were distributed as follows (39.9% allocated to construction, 39.9% allocated to energy and industry, 24.3% allocated to electricity and water service projects, while 22.6% was allocated to road and transportation projects). link

Tishwash:  Starting to implement ASYCUDA global system for automating customs operations

The Prime Minister's Media Office announced on Tuesday the start of using modern automation systems to facilitate the entry of goods into border crossings and monitor them centrally, and the agreement to implement the global ASYCUDA system to automate customs operations.

The office said in a statement, seen by "Al-Eqtisad News", that "in implementation of the directives of Prime Minister Mohammed Shia Al-Sudani regarding administrative and financial reform, which is included among the priorities of the government program, a special meeting was held today in the Prime Minister's Office headed by the Prime Minister's Advisor for Border Customs and Ports Affairs, where the procedures related to the governance of border ports and customs systems were discussed."

The statement added that "the meeting witnessed the announcement of the completion of the necessary infrastructure to link all border ports with the latest technologies, and the start of the use of modern automation systems to facilitate the entry of goods into border ports and monitor them centrally. It was also agreed to implement the global ASYCUDA system for automating customs operations, enhanced with electronic payment services starting from January 1, 2025."

He pointed out that "this step will contribute to achieving automation in ministries and institutions, including the e-government project and providing electronic payment services, which contributes to enhancing transparency and accountability, simplifying procedures, facilitating services and reducing bureaucratic obstacles, in addition to establishing good governance and combating corruption."  link

Mot:  Finally Made sum - Realistic Resolutions

Mot: .. good ole ""Earl"" to the Rescue!!!

News, Rumors and Opinions Wednesday AM 1-1-2025

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 Wed. 1 Jan. 2025

Compiled Wed. 1 Jan. 2025 12:01 am EST by Judy Byington

Happy New Year!!!
God Is About To Open Your Door To A Marvelous Future
The Waiting Wasn’t a Delay, It Was a Preparation

Global Currency Reset:

Tues. 31 Dec. 2024: Withdrawals and deposits suspended for four days at all Iraqi banks. The Central Bank of Iraq will close on January 2, 2025 and cease banking transactions for customers. The bank also decided to suspend withdrawals and deposits in savings accounts at bank branches from December 30, 2024 to January 2, 2025, with the aim of completing its annual budget. https://x.com/DPyontaka92762/status/1874160733984088168

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Tues. 31 Dec. 2024 Bruce:

At one minute before midnight Tues. 31 Dec. (allegedly) Nesara and Gesara actually starts.

We are supposed to have a Global Announcement on Nesara Gesara on Wed. 1 Jan. 2025.

Nesara (allegedly) includes all new worldwide asset backed currencies by all those precious metals and oils and gas and all commodities.

We will have a new USTN coming out fairly soon.

Nesara and Gesara will be (allegedly) revealed in the first ten days and might even be in the EBS Global Announcement  – so it might well all happen tomorrow.  

For the US, substantial Restitution and Reconciliation Allowances and significant increases in Social Security will also (allegedly) begin with Nesara.

Ages 30 – 45 will (allegedly) get R&R paid monthly over three years in to your bank account. Ages 45 – 60 will receive it over two years. 60 and older will receive it as a lump sum.

We are supposed to be notified of exchange/redemption appointments on the first of Jan in our emails and set our appointments either Wed. 1 Jan. or Thurs. 2 Jan.

The email should tell us what day and time to call  – so that everyone doesn’t call at the same time

Redemption Center Staff are (allegedly) going into work on Thurs. 2 Jan. at 9am.

When you call for an appointment you might get an AI voice, but give them your Zip code and then you’ll get directed to a live person.

You have to ask for the Contract Rate on the Dinar.

At your redemption/exchange appointment you can (allegedly) set up your Med Bed appointment and can refer up to six people for Med Bed treatments.

Read full post here:  https://dinarchronicles.com/2025/01/01/restored-republic-via-a-gcr-update-as-of-january-1-2025/

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

Frank26   [Speaking to Iraq boots on the ground Firefly] [Iraq] is international.  So is your currency.  So  is your banking structure.  Your new exchange rate will be the cherry on top of everything that Sudani has accomplished for you citizens.  It will bring you purchasing power...security and stability from the enemy that stole your money all these years and it will be a very strong relationship with the United States of America...

Militia Man  They're talking about the issuance of money and aren't we waiting for a new exchange rate?  Yes we are.  I think that's the whole premise here.  They're getting rid of the dollar auction.  Now it's called the currency  window...No wonder these guys in the street are nervous.

FDIC WARNS: Bank CRISIS Accelerates as Losses Hit $364 BILLION

Taylor Kenny:  12-31-2024

The FDIC has issued a dire warning: a growing number of banks are on the brink of insolvency due to a $364 billion crisis rooted in unsustainable federal debt.

In this video, we’ll break down the truth about unrealized losses, hyperinflation risks, and the looming threat of a currency reset.

 Learn how to prepare and protect your wealth before it’s too late. Watch now to stay informed and take action.

CHAPTERS:

00:00 FDIC Warns of Bank Insolvency

00:42 Federal Debt’s Ripple Effect on Banks

 01:20 Wall Street Speculation and Deposit Risks

 02:00 Banks Gambling with Your Deposits

03:19 Unrealized Losses on Bank Balance Sheets

 04:31 Hidden Bank Liabilities and Liquidity Crisis

05:42 Inflation and Debt Drive the Financial Crisis

07:03 The Truth About Bank Failures

08:15 Hyperinflation: A Growing Threat

09:31 Bank Bail-ins: Your Deposits at Risk

10:03 The Inevitable Currency Reset

11:17 How to Prepare for the Reset

https://www.youtube.com/watch?v=AWmMTE6bPaM

Happy New Year from Dinar Recaps

All of us at Dinar Recaps wish all of our readers a 

Happy, Healthy and Safe New Year.

May all your dreams and wishes come true in the New Year.

Due to the holiday, we plan to have new posts off and on Tuesday and Wednesday. Please check our  BLOG PAGE  for any new posts. 

On New Years Eve we plan to have 11am and 6pm (ET) email Newsletters (no 10pm (ET)).

On Wednesday New Years Day, we plan to have a 11am (ET) and 6pm email Newsletter (no 10pm).

Please scroll down for new posts.

Ariel: Hot off the news wire!

Ariel : Guess When the New Notes will be Available?

Hot off the news wire!

The Starting Gun

Foot is on the gas.
Engines are revving.
Exhaust pipes are smoking.
The clock is winding down.

Are you ready to put the pedal to the metal?

Exchanging old notes for new notes will be done under the new exchange rate.

Guess when these notes will be available? January 2nd!

I think I now know what Donald Trump means when he said this will be the best new years eve ever. Why? Because it was reported years ago that he also has a big bag of Iraqi Dinars. His came in pallets.

Majeed:  By CBI Jan 2 people in iraq will change the old note with the new one

When you read this they are basically advising you on how to exchange the Iraqi Dinar. Internally this may be for the citizens but it applies outside the country as well.

Brothers Technologies Inc. I’m ecstatic and EXCITED AND PLEASE READ FOR YOURSELF!!!!!!! Thread Posted by CBI 12/24/24 12/26/24 You’re Welcome

For full post read here:  https://dinarchronicles.com/2024/12/31/ariel-prolotario1-guess-when-the-new-notes-will-be-available/

News, Rumors and Opinions Tuesday PM 12-31-2024

KTFA:

Clare: For four days.. Suspension of withdrawal and deposit operations in all Iraqi banks

The Central Bank of Iraq decided, on Tuesday, to suspend withdrawal and deposit operations for four days.

December 31, 2024   Baghdad / 

According to a document, the bank decided to close the bank's doors on January 2, 2025 and stop conducting banking transactions for customers.

The bank also decided to suspend withdrawal and deposit operations on savings accounts in bank branches for the period from 12/30/2024 to 1/2/2025 for the purpose of completing the annual budgets.  LINK

Clare:  "Major Security Event"... US Treasury Under Cyber ​​Attack"

12/31/2024

The U.S. Treasury Department was hacked in what it described as a major security incident, attributed to a Chinese state-backed entity, according to a document seen by Bloomberg.

The breach was carried out via a third-party software provider called BeyondTrust, where the hackers gained access to a cloud-based service used to provide technical support to the ministry's offices.

The ministry said the documents accessed were unclassified, and that the affected service had been completely shut down.

Reports indicate that Chinese hackers were involved in the incident, while the Chinese embassy denied the accusations, considering them to be smear attacks that are not based on evidence.

The attack is part of a series of cyber espionage operations targeting the United States, including telecommunications companies, which has raised significant concerns at the national level.

The Treasury Department confirmed that investigations are ongoing in cooperation with law enforcement and intelligence agencies, while receiving support from the affected service provider, BeyondTrust.  LINK

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Clare:  Baghdad is preparing to open 4 hypermarket centers.. 20% discount

12/31/2024

 The Ministry of Commerce announced today, Tuesday, the opening of new hypermarket centers in the capital, Baghdad, in the coming days.

 The ministry's spokesman, Mohammed Hanoun, told {Euphrates News} that: "Regarding the work of hypermarkets, a center was operated on a trial basis in the Al-Bayaa and Al-Hurriyah areas in Baghdad, and four more will be launched in the coming days, bringing the number to 6 in the capital." 

He added, "The markets include all the needs of citizens, and there is cooperation with government and private markets for the purpose of purchasing materials on credit," indicating that "the prices of some materials are 20% lower than the local market, and many of them are 20% lower."

According to his statement, Hanoun looks forward to "fulfilling citizens' requirements of pharmacies, banks, restaurants, rest stops, and garages, most of which are free, civilized, and paid."

Raghad   LINK

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

Frank26   [Iraq boots-on-the-ground report]  FIREFLY: Alaq is talking about a big party they're having right now at the CBI for all the CBI employees who have worked so hard on the process and on the development of a new currency.  They are celebrating along with the US Treasury delegation here on a visit.  FRANK:  I will admit that's pretty cool.  It's also a telltale sign.  That's why the US Treasury is there.

Militia Man  It appears they're gearing for a change and that change is coming...The exchange rate could come when Alaq is ready to tell us and the world.   If that 'mechanism' has to deal with an exchange rate, they're talking about that today.  That's fascinating...

Small note …Iqd

Nader:  12-31-2024

https://www.youtube.com/watch?v=A3jVVNLh-p0

"I Find This Scary Because It's What Happens In A Blow-Off Top" - Mike Maloney

12-30-2024

Prepare to be startled by the dramatic extremes in today’s stock market. Mike Maloney and Alan Hibbard discuss the urgent red flags signaling a potential “blow-off top,” where market gains soar to dizzying heights before a sudden collapse.

 Learn how the top 10 S&P 500 stocks alone are worth more than some of the world’s largest stock markets combined, why one of America’s biggest tech giants trades at all-time-high valuations, and how economic indicators are flashing warnings that many have chosen to ignore.

Key Topics Covered:

Why a narrow market rally can be alarming

The meaning behind “blow-off top” risks Understanding the divergence between market cap and economic indicators

How valuations compare to historic bubbles like the dot-com era

Actionable insights for navigating uncertain market conditions

https://www.youtube.com/watch?v=K5H4MsnqVYk

Iraq Economic News and Points to Ponder Monday Afternoon 12-30-24

The Collapse Of Monetary Policy In Iraq.. Investment In Banks Is Almost Non-Existent And The Central Bank Is Going Against The Grain
 
Economy | Today, 12:13 |  Baghdad today – Baghdad  Financial and economic expert Mustafa Akram Hantoush commented today, Tuesday (December 31, 2024), on the performance of the Central Bank of Iraq for the current year.

Hantoush said in an interview with "Baghdad Today",
 
"The reality of monetary policies in Iraq is heading in the opposite direction to the process of building monetary policies, and there have been problems for years that have led to a clear collapse in Iraqi monetary policies."
 
He added, "For years, the banking system has been subjected to near annihilation. 32 banks are subject to sanctions, and the rest are banned from receiving the dollar only in specific currencies, and the mechanism is still unclear."
 
He pointed out that "there are more than 70 Iraqi banks without lending, because the central bank did not establish a clear lending policy of loans, categories, and guarantees."
 
He continued, “The policy of attracting deposits is more than 80 to 85% of the currency issued by the Central Bank, and it does not appear in the monthly transactions in the monthly banking system, so this currency is supposed to be offered as marketing deposits, so the banking system does not enter into this process,” indicating that “The investment policy of the Iraqi Bank is almost non-existent.”
 
Hantoush explained that the policy of investment banking operations is not specific in direction, and the remittance policy also has a problem with the cancellation of the platform, “so I see a clear collapse in Iraqi monetary policies.”
 
Hantoush called on the Central Bank to reform its monetary policy, set new standards for developing the Islamic banking system, and go further to keep pace with the requirements of the current and future economic stage.    
  
https://baghdadtoday.news/264928-انهيار-السياسية-النقدية-في-العراق.-الاستثمار-في-المصارف-شبه-معدوم-والبنك-المركزي-يسير-عكس-التيار.html

The Central Bank Decides To Stop Withdrawals And Deposits (Document)
 
Sweeteners     2024-12-31 | 11:52  Source:  Alsumaria News     5,252 views  The Central Bank of Iraq decided, on Tuesday, to stop withdrawals and deposits for a period of four days.  According to a document, the bank decided to close its doors on January 2, 2025 and stop conducting banking transactions for customers.
 
The bank also decided to stop withdrawals and deposits on savings accounts in bank branches for the period from 12/30/2024 to 1/2/2025 for the purpose of completing annual budgets.
 
Below is the text of the document  
 
https://www.alsumaria.tv/uploadImages/ExtImages/Images1/ExtImage-7471324-690056192.jpg
  
' https://www.alsumaria.tv/news/localnews/511467/البنك-المركزي-يقرر-إيقاف-عمليات-السحب-والإيداع-وثيقة 

Integration Requirements
 
December 31, 2024   
    In order to speed up the procedures and complete the merger transactions for the exchange companies of categories (A and B) under establishment and all brokerage companies for buying and selling foreign currencies, please provide us with the attached merger requirements at once ..
For more, click here.    https://cbi.iq/static/uploads/up/file-173564321769246.pdf
  
https://cbi.iq/news/view/2754    
  
~~~~~~~~~~
 
[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-173564321769246.pdf 
 
DATE :   2024/12/27
 
Exchange companies for the two categories (A,B) under all establishment
 
Mediation companies by selling and selling all foreign currencies
 
M/ Integration requirements
 
In order to accelerate procedures and complete the completion of your companies’ integration.
 
Please provide us with the accompanying integration requirements, so that this directorate can proceed with this directorate.
 
Integration without delay or delay, as the delay in completing the requirements of integration will lead to the delay in granting you Nbfi.supervision@cbi.iq.
 
To abide by what was mentioned above.  With appreciation
 
For accompanying/ 
 
- Schedule of number (3) with integration requirements.
 
 A schedule with documents to be submitted for the purpose of integration and obtaining the final license
 
[three page table in Arabic listing required documents, followed by…] 
 
With the presentation that all the aforementioned forms are published on the website of the Central Bank of Iraq  On the link below:    https://cbi.iq/news/view/1223  

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

6 Ways To Prevent Your Property Value From Plummeting in 2025

6 Ways To Prevent Your Property Value From Plummeting in 2025

John Csiszar  Mon, December 30, 2024    GOBankingRates

Property values have had quite a run since the 2020 pandemic, more than doubling in many markets. Between that run-up, high inflation the past two years, persistently high interest rates and the long time since the last recession, some market watchers are concerned about the lofty valuations in certain housing markets. While a true housing crash seems to be unlikely, there are some areas you might want to avoid — or steps you might want to take — to help protect your investment. Here are some suggestions.

Avoid Condos in Oversaturated Markets

When you buy a condo, you don’t own the land that your property sits on. Technically, you own a fractional interest in the complex’s common areas, but your ownership rights are different than if you buy a townhouse or a stand-alone home.

 In those cases, you own the lot where your property sits, giving you additional value and freedom to do as you wish with your structure. This can make condos less valuable properties to own, particularly in oversaturated markets.

To maintain your property value if this is your ownership situation, find ways to make your condo stand out, by renovating or otherwise maintaining your property in a manner that puts it head and shoulders above any competing units.

Spruce Up Your Older Home

All other things being equal, new homebuyers will usually want fancy new homes over those that are old-fashioned. If your home has an old floor plan, old-fashioned colors and no technological upgrades, investing some money in upgrades can be a good way to keep your home current and up its value. Even somewhat mundane improvements like new windows or fresh paint can help protect your property value.

Stay Out of Areas With Constant New Builds

If you notice the constant building of new homes in your area, it can be a warning sign that your property value may decline — or at least not rocket higher. Although increasing demand is a good thing in the real estate market, when supply matches that demand — or even exceeds it — there’s no push to drive prices higher. In fact, oversupply can often be a trigger that pushes prices lower. The ideal situation is to own property in an area in which new builds are restricted or limited, either by geography or by legislative decree.

TO READ MORE:  https://www.yahoo.com/finance/news/6-ways-prevent-property-value-230019632.html

Insiders Dumping Stocks, Preparing For 2025 Reset? - Year-End Panel - Holter, Macleod, Schectman

Insiders Dumping Stocks, Preparing For 2025 Reset? - Year-End Panel - Holter, Macleod, Schectman

Liberty and Finance:  12-30-2024

In this 2024 year end panel discussion featuring Andy Schectman, Alasdair Macleod, and Bill Holter, the tone is starkly cautionary as they analyze the fragile state of global financial markets.

The conversation highlights a rapidly deteriorating situation where the dollar is on a "slippery slope" and market dynamics show, among the insiders, an overwhelming number of sellers compared to buyers.

Schectman, Macleod, and Holter point out that, while gold has made significant gains, investor enthusiasm remains low, with the public continuing to unload assets while institutional investors quietly buy.

They all agree that the real economy is slowing down, with the ominous possibility of a 2025 downturn resembling the Great Depression of 1929.

The trio also emphasizes the risks facing the banking system, which is attempting to de-risk itself, but is still vulnerable to a larger collapse.

INTERVIEW TIMELINE:

0:00 Intro

 2:41 2024 takeaways

8:30 Secret central bank gold buying

15:05 Insider selling

19:00 Global credit bubble

 30:45 Retail market update

 44:29 2025 look ahead

https://www.youtube.com/watch?v=rip2-Y3EJ1I

“Coffee With MarkZ” New Years Eve Chat 12-31-2024

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

MarkZ  Update- Some highlights by PDK-Not verbatim

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

Member: A good morning and Happy New Year’s Eve to all

Member: Happy New Year to everyone! Hope 2025 is much better than 2024, which will go down as the "Year of Anticipation"...

Member: Hey Mark, put on your red ruby slippers and click your heels together three times and repeat, we want our RV, we want our RV. ……Hey it's worth a try.

MZ:  Iraq just agreed to join the “global” Ayscuda system for customs. A standardized international standard.  This is important for fees ect….this is big…..Iraq is going fully international.

Member: One would think Iraq needs an international currency with a better rate then.

​​Member: The Iraqi Ministry of Finance has transferred around 450 billion dinars to the Kurdistan Regional Government’s (KRG) bank account as part of the December salary payments for the Region’s civil servant

MZ: “Completion of State Employees salary financing for December”  They want us to know they did complete it

Member: So did Iraq have an auction today

MZ: Yes….over $268 million……They said they would end auctions in 2024…we didn’t know it would still go on the last day though.

Member: I really hope it’s the last one.

Member: I don't mind the auctions. It means more dinar comes off the street, so the value can rise!!!

Member: When the auctions end-then we get a new rate?

MZ:  They are supposed to …..it may take a few days without the new rate so they can let things stabalize…..but then BAM….we get a REER (Real Effective Exchange Rate) At least that is what they have been telling us from Iraq.

MZ” “Closing  the electronic platform: What are the repercussions of this step on Iraq’s economy?”  The underlying conversation everywhere in Iraq right now is “What happens?”   If the value changes…there will be no worries.

Member: I wonder if they need an international rate before the big meeting with the WTO on the 17th

Member: I really hope the rate will be at least 1 to 1.

Memner: I will be happy with any rate on any currency, we are blessed to even be in this position.

MZ: There was a lot of news out of Iraq overnight …..20 or so stories at least on ending the year…starting the new year….and the platforms. My take away is they are going to need the new value because of the new system. They have created this new system and now is the time to breathe life into it. In the coming days without auctions they are going to start operating like any other country with a standardized banking system . This is part of their “White Paper” reforms.

MZ: We are about to see a huge step for Iraq.

Member: I hope Sudani will make his promise right at Midnight Iraq time ….and that the Dinar will RV and give his people a Happy New Year!

Member: I heard If things dont' go by 1/2/2025, then Sudani give them 1 week (until 1/7/2025) to resolve, then he takes over & makes a move? Is that correct? So, by 1/8/2025 things WILL happen?

Member: Charlie Ward always said it goes on a Thursday but he didn't know which Thursday. I am ready for that Thursday to roll in.

​​Member: Rumor floating around is Trump to change tax laws and make it retro to 1/1/25. That's why we RV after the end of 2024

Member: Any bank or bond chatter?

MZ: Most of what I am hearing is people have appointments from Jan 2nd to the 7th or 9th. They are supposed to walk with dollars from their final contracts. They get 1% then the traunching starts (payments)

MZ: So these folks are traveling out of country for set appointments from the 2nd to the 9th.

Member: Mark, are you being affected by the electrical grid outage I Puerto Rico?

MZ: 90% of Puerto Rico is affected. I have backup and internet right now.

Member: On New Years Eve, an old Irish tradition is to open your door at midnight and let the Old Year Out and the New Year In. I think this year deserves the doors, windows and garage doors to be opened

Member: Here's to the best year ahead. the wait has been forever, but the REWARDS....OH BOY

Member: Let's ring in 2025 with all things good and be blessed…the best is yet to come

Member: As we say goodbye to this year and welcome the new one, let's do it with a thankful heart. Let's start the new year with peace and faith.

Member: Mark I commend you staying positive day in and day out! Very difficult to do….Happy New Year

MZ: Thanks all….I am not scheduling a podcast tonight . Happy New year as we close out 2024 and open a golden 2025

Member: See everyone in 2025!!!

Member: Will you have a podcast tomorrow?  IF not- Happy New Years to us all

Mod:  WATCH THE INTEL ROOM FOR PODCAST DETAILS!... NO PODCAST TONIGHT, UNLESS SOMETHING BIG HAPPENS!!  INTEL INFO ROOM: Link: https://t.me/+K_GNVfTI0gFkZWYx

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

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

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

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THANKS FOR JOINING. HAVE A BLESSED DAY!  HAPPY NEW YEAR

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