Seeds of Wisdom RV and Economic Updates Monday Morning 1-6-25

Good Morning Dinar Recaps,

RIPPLE SEC CASE: EX-SEC LAWYER AFFIRMS SETTLEMENT IN XRP LAWSUIT

Ripple SEC Case: Ex-SEC lawyer Marc Fagel claims settlement is likely in XRP lawsuit as Trump admin and Paul Atkins may decide not to pursue the appeal.

▪️Former SEC enforcement lawyer Marc Fagel says Ripple SEC case will see a settlement.

▪️He explained that settlement is require due to penalty on hold pending appeal.

▪️Lawyer Jeremy Hogan has predicted an April or May timeline for XRP lawsuit end.

▪️Ripple and XRP will get required boost under the Trump admin and incoming SEC Chair Paul Atkins.

The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches. 

A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.

Ex-SEC Lawyer Says Settlement in Ripple SEC Case Most Likely

Marc Fagel, a former SEC enforcement attorney, on January 6 posts explained to the crypto community that the government agency didn’t lose, but won in part and lost in part. This requires a settlement between parties as both Ripple and SEC appealed the part they lost.

“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million in penalty for $700 million in unregistered securities sales to institutional investors.

Marc Fagel asserts the odds of new SEC administration deciding not to pursue the appeal is higher, which will make parties settle Ripple SEC case on what the court ruled. However, he affirmed that the SEC under Gary Gensler will file appeal by January 15.

Pro-XRP Lawyer Expect May End Timeline for XRP Lawsuit

As reported first by CoinGape Media, lawyer Jeremy Hogan has predicted an April or May timeline for the end of the Ripple SEC case. He added that the decision may not come before that as it takes a lot of time to get reports, memos, requisite SEC meetings and others.

Today, he again commented that Paul Atkins will definitely drop the appeal and settle with Ripple to end XRP lawsuit in 2025.

What’s Next Under Paul Atkins?

Experts and the crypto community believe the end of Ripple SEC case will boost the odds for XRP ETF approval. This may also trigger a rally in XRP price.

CEO Brad Garlinghouse in a post on Sunday criticized the SEC under Gary Gensler saying the actions “froze our business opportunities here at home for years.” He highlights that 75% of Ripple’s open job roles are now US-based and the company has signed new deals in the U.S. in the last six weeks.

“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again.”

Meanwhile, analysts expect XRP price to see another rally to double-digit figures, similar to a 400% rally after Trump’s re-election.

In short-term, XRP price to consolidate at the current range for weeks and then rally towards a new all-time high, as per analyst CrediBULL Crypto. “Currently trading at around where I closed my last long. We’ve taken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.

@ Newshounds News™

Source:  CoinGape

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PRO-CRYPTO LAWYER JOHN DEATON OFFERS TO PROBE OPERATION CHOKEPOINT 2.0

Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.

Former United States prosecutor and crypto advocate John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 — an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.

“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming United States President Donald Trump, Vice President JD Vance and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.

“This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said in the X post, which was also addressed to Secretary of Commerce Howard Lutnik and David Sacks, who will lead Trump’s AI and crypto “czar.”

Deaton, well-known for his efforts in Ripple’s legal battle with the Securities and Exchange Commission, said he would even “accept the task without salary.”

“The American people deserve the truth a hell of a lot more than I or anyone else needs another taxpayer funded paycheck.”

His offer followed a court order allowing crypto exchange Coinbase to obtain unredacted files from the Federal Deposit Insurance Corporation to investigate their role in the unconfirmed Operation Chokepoint. 2.0 regime.

“They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings,” Coinbase’s chief legal officer Paul Grewal explained after reviewing the filings.

The alleged “architect” of Operation Chokepoint 2.0, Martin Gruenberg, resigned as the FDIC Chair in November.

The regime refers to a rumored and unconfirmed US government initiative to pressure banks into refusing or limiting services to crypto firms, which possibly caused crypto exchanges like Binance to be without a local banking partner after Silvergate and Signature Bank both collapsed in March 2023.

Deaton’s new endeavor comes after he lost a Massachusetts Senate seat to Democrat Senator Elizabeth Warren in the US election on Nov. 5.

The landslide victory in Warren’s favor came before two heated senate debates where Deaton called out Warren for building an “anti-crypto army” instead of prioritizing issues impacting the lower and middle class in the state.

@ Newshounds News™

Source:  CoinTelegraph

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News, Rumors and Opinions Monday AM 1-6-2024

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 Mon. 6 Jan. 2025

Compiled Mon. 6 Jan. 2025 12:01 am EST by Judy Byington

Global Currency Reset:  (RUMORS)

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

Iraqi Dinar to be active on the Forex on Tues. 7 Jan. 2025: https://x.com/majeed66224499/status/1875532508734832660?s=57 

Sun. 5 Jan. 2025 Norman: An international banker has confirmed that Iraq Banks are online and the World will experience an economic shift by Mon. 20 Jan. 2025: https://x.com/BROTHERSTE27892/status/1875605603629871510?t=f4Bvl7BfLj9u20UE0GDdtQ&s=19

Sat. 4 Jan. 2025: CBI has stopped auctions, Dinar Rate has stabilized: Iraqi Dinar Iraqi Dinar Rate Stability and RV Done Now Iraqi Dinar Latest News Iraqi Dinar Today

Sat. 4 Jan. 2025 MAJEED: The CBI will be back on Tues. 7 Jan. 2025 after the reevaluation (allegedly) happens! … to manage liquidity for the currency after being on Forex like India and Egypt. “The Authority emphasizes its efforts to regulate the market, enhance transparency, and foster public and private sector participation. The event marks the beginning of a promising year for the Iraqi stock market.” All that happening on Tues. 7 Jan. 2025. And no, they do not have to wait for the stock market to open because Forex is an international market that does not depend on the stock market of the country to be open. They already adjusted the payroll and they will start paying the salaries on Sun. 5 Jan. 2025 based on the new rate. If people getting less money without knowing that rate has changed inside the country, they will go insane, so the government will announce. https://x.com/majeed66224499/status/1875532508734832660?s=46&t=Ich7hg6RGbObSjhen7byaw

On Mon. 6 Jan. 2025 the Quantum Financial System (QFS) will officially be activated Worldwide.

Thurs. 2 Jan. 2025 Frank26 and WalkingStick: Iraq’s foreign minister was in DC and gave the new Dinar Rate to the US Treasury. The US has now been paid in full and has lifted the remaining sanctions on the Iraqi Banks!

Sun. 5 Jan. 2025: BQQM! Declassification of Information: NESARA GESARA, White Hats, Quantum Financial System (QFS), and Banking Cartels! – amg-news.com – American Media Group

Sun. 5 Jan. 2025: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2025/01/06/restored-republic-via-a-gcr-update-as-of-january-6-2025/

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

Militia Man  They say today the exchange rate is 1320 dinar for every dollar.  That is the true exchange rate however that will change to an international acceptable exchange rate when the Central Bank applies the new exchange rate to be on international Forex markets. They're preparing for that to happen before our eyes with the [new] reinforcement mechanism...They have switched from the old dollar auction system...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Mr. Sammy just left my place.  He told me, I want you to understand that what we are seeing on TV right now about bringing in the notes, it's like a clean sweep to get the old notes out, the damaged notes back and the counterfeit notes off the street before the rate hits.  This will allow all these notes collected to get into the electronic system...Mr Sammy says we are officially category A currency now...It was category C which was less desirable ... That was required also for the WTO introduction...All these smaller exchange companies that have recently been licensed are now being linked to the big boy exchange companies.  That all leads to something big is coming.  FRANK:  Yes, something big is coming...

GLOBAL COLLAPSE Accelerates: Happening Faster Than They’ll Admit

Taylor Kenny:  1-5-2024

Global economic collapse is accelerating, with debt, market volatility, and geopolitical tensions pushing us to the brink. In this video, we examine the three critical driving forces behind this crisis: unsustainable debt, market speculation, and rising global instability.

CHAPTERS:

 00:00 The Global Economic Collapse is Accelerating

00:37 Driving Force 1: Unsustainable Global Debt

01:52 The U.S., China, and France: Debt Crises Unfold

02:26 Driving Force 2: Market Volatility and Illusion of Growth

 04:51 Dangerous Market Concentration Signals a Crash

05:24 Driving Force 3: Geopolitical Tensions and Dollar Threats

07:42 Take Action Before It’s Too Late

https://www.youtube.com/watch?v=Pfhjo1V94FI

BRICS Silver BOMBSHELL Puts Commercial Banks ON BRINK of Collapse! - Andy Schectman

Financial Wisdom:  1-5-2024

In this latest interview, Andy Schectman discusses how eight Western commercial banks maintain massive short positions in silver (particularly on COMEX and LBMA) while Russia, China, and India are strategically accumulating physical silver, with Russia recently announcing plans to add silver to its national stockpile.

He argues that silver is a strategic metal crucial for military applications and high-tech weapons, suggesting that these coordinated actions by BRICS nations to drain global silver exchanges, combined with a four-year structural supply deficit, pose an existential threat to Western banks holding large naked short positions.

0:00 Introduction

 0:12 Russia acquiring silver and impact on banks

9:01 Military demand for silver

14:44 Commercial banks shorting silver

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

“Tidbits From TNT” Monday Morning 1-6-2024

TNT:

Tishwash:  Iraq and America discuss activating the strategic framework agreement

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed with the Chargé d'Affaires of the US Embassy in Iraq, Elizabeth Kennedy Trudeau, preparations for holding a meeting of the Iraqi-US Joint Committee to activate the Strategic Framework Agreement.

 Hussein said in a post on the (X) platform, "Yesterday, I met with Ms. Elizabeth Kennedy Trudeau, Chargé d'Affairs of the US Embassy in Iraq. We reviewed the developments in the region and the importance of continuing to coordinate positions, especially in confronting the terrorist organization ISIS."

He added, "We discussed preparations for holding a meeting of the joint Iraqi-American committee to activate the strategic framework agreement for friendship and cooperation between the two countries link

Tishwash:  The Iraqi dollar and the first day “passed peacefully”.. The Central Bank is innocent and devoted to the dinar

Quick review by Mahmoud Dagher

 “The first day passed peacefully,” said Dr. Mahmoud Dagher, a prominent financial expert, commenting on the first day of official work after the New Year’s holiday and the start of implementing the decision to cancel the dollar selling platform for traders and companies, which had been controversial for 20 years.

Since Sunday morning, there has only been a slight increase in the dollar price. According to Dagher, who managed the operations of the Central Bank for many years, the platform’s function has changed from being a seller of dollars to Iraqi companies, to an intermediary between Iraqi banks and foreign correspondent banks (JP Morgan and Citibank)

Which will be responsible for auditing and approving the transfers, instead of the Central Bank of Iraq, which has cleared its responsibility in this way according to an understanding with international institutions and the US Federal Reserve, and is currently devoted to taking dinars from Iraqi traders and converting them into dollars to be transferred to foreign banks that have begun to organize Iraqi trade.

Dr. Mahmoud Dagher - Economic Expert:

Canceling the platform does not mean that the Central Bank is not converting dinars into dollars.

The Central Bank receives the dinar from the banks, which is the money of the customers (traders), and converts it into dollars and delivers it to the foreign correspondent banks. It will not undertake the auditing, but they will undertake that.

The currency selling window will remain, but its mission will not be to sell dollars but to convert dinars into dollars, and there was no problem in the market today, Sunday, although the dollar rose very slightly. link

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Tishwash:  Economist: New steps by the Central Bank regarding dollar transactions

 Economic expert Safwan Qusay revealed today, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness.

Qusay said in a statement to Al-Maalouma Agency that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before they are implemented."

He explained that "this measure is in the interest of the Central Bank, as it contributes to avoiding the risks of money laundering cases and international sanctions," noting that "this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage, as they will deal with international correspondents and financial guarantees in addition to instant transfers, which enhances their position in global markets.”

He pointed out that "it is possible to rehabilitate banks that are currently facing restrictions, which will lead to achieving greater stability in the exchange rate," indicating that "the Central Bank attaches special importance in the next stage to increasing foreign currency reserves, which contributes to facilitating trade operations and supporting economic activity.” link

Mot: Did He Really Say That!!! ?????

Mot:  Only "'Opal""  

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-5-25

Good Afternoon Dinar Recaps,

RIPPLE GOES ON HIRING SPREE IN U.S.

Ripple CEO Brad Garlinghouse has revealed that 75% of the company's open job offers are in the U.S.  This is a stunning reversal compared to the previous years, during which the enterprise blockchain company conducted the majority of hiring abroad.  

As of now, Ripple has 31 job openings in San Francisco and New York, with most of them being within the engineering sector.

Garlinghouse claims that SEC Chair Gary Gensler "froze" its business opportunities at home for years.  On the cusp of the SEC lawsuit that was filed in December 2020, Ripple considered its global headquarters outside the U.S.

Ripple's Garlinghouse also claimed that 95% of the company's customers were not from the U.S. during an interview with CNN's Julia Chatterley.  However, it ultimately decided to stay in its home country despite regulatory hostility and legal issues.  In 2022, Garlinghouse said that the company was operating as if it had already lost by hiring more people outside of the U.S.  

Ripple executives have repeatedly criticized the SEC for harming the cryptocurrency industry.  In 2023, the Ripple boss revealed that the company was still doing a whopping 80% of its hiring outside the U.S.  However, now that Gensler has confirmed his departure, the company has started a hiring spree on its home turf.

@ Newshounds News™

Source:  U Today

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BRICS NEWS:  BRICS: INDIA LIKELY DUMPING THE U.S. DOLLAR

BRICS member India is likely dumping the U.S. dollar in the forex markets to safeguard the rupee from falling, reported Reuters.

The Indian rupee reached an all-time low of 85.96 on January 1, 2025, as the U.S. dollar strengthened. The development ruffled a lot of feathers in the Indian markets as the imports and exports sector took a hit. The Reserve Bank of India (RBI) directed state-run banks to dump millions worth of U.S. dollars to protect the rupee.

On the direction of the RBI, state-run banks offloaded their U.S. dollar reserves to limit the damage to the rupee. The RBI is likely keeping a close tab on the development and is interfering in the currency markets.

This is not the first time that BRICS member India has sold the USD to save the rupee, it has been accused several times of dumping the U.S. dollar.

The RBI is “likely keeping a check on any sharp declines,” said a currency trader on the condition of anonymity. The state-run banks were spotted offloading the U.S. dollar on behalf of the RBI. BRICS country India fears that a declining rupee will lead to inflation in the country that stems out of the imports and exports sector. 

Therefore, the rise of the U.S. dollar is worrisome as it could wreak havoc on the Indian economy.

BRICS: U.S. Dollar vs Indian Rupee

The Indian rupee is hanging on a thread against the U.S. dollar and the BRICS member now remains under pressure. Trump’s re-election ignited a rally for the USD making it touch a high of 109.08 in the DXY index.

“The U.S. dollar in the New Year is basically carrying from where it left in 2024. It looks like this dollar rally will not relent till at least the Trump inauguration,” said a currency trader at a bank to Business Insider. “I am a bit surprised that we did not see a bigger pop (on dollar/rupee)” considering the dollar’s up move, he said.

@ Newshounds News™

Source:  Watcher Guru

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WHY PROPERTY TAX IS ILLEGAL

“I sincerely believe that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale” - Thomas Jefferson, 1816

“They who can give up essential Liberty to obtain a little temporary Safety, deserve neither Liberty nor Safety” - Benjamin Franklin

@ Newshounds News™

Read the Story Here:  ZeroHedge

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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6 Bad Pieces of Money Advice

Suze Orman: 6 Bad Pieces of Money Advice

Nicole Spector Fri, January 3, 2025  GOBankingRates

There has always been bad advice out there about what to do with our money. But now, in an increasingly digital age where many of us are glued to social media apps, inhaling particle after particle of “expert” information, we’re inundated with all sorts of financial advice. Some of it is salient and good; but some of it could be terrible for us, or, at best, not rightly sized for our needs and wants.

Suze Orman has become a multimillionaire as a personal finance guru, and is quick to call out a piece of advice about money that should be avoided. Let’s look at six bad pieces of money advice that Orman has bluntly struck down.

‘It’s Fine To Hire a Financial Advisor Who Is Not a Fiduciary’

This one may catch you by surprise, if only because you may not know this distinction exists. Not all financial advisors are fiduciary financial advisors. A fiduciary financial advisory has the qualification and commitment to act in your best interest and is overseen by complex and specific rules.

A financial advisor who does not have a fiduciary duty could act against your best interests by, for example, investing your money in a stock that they want to see succeed for their own prosperity.

“Only advisors who operate as fiduciaries are promising to always put the client’s interest first,” Orman wrote in a blog on her site in 2020. “If you are interviewing potential financial planners, ask them if they are a fiduciary and if they will put that in writing if you work with them. This should be a super easy request anyone will quickly say yes to.”

 ‘You Have To Send Your Kid to an Expensive College in Order for Them To Be Successful’

TO READ MORE:  https://www.yahoo.com/finance/news/suze-orman-6-bad-pieces-130007865.html

KTFA Members “Auctions or No Auctions?” and more 1-5-2024

KTFA:

Kimberly:  Imo question so confused have the cbi auctions stopped? Or is the cbi running on a different system? Not understanding what is going on

Harlequin3:  IMO- Yes, the auctions have stopped. There is a currency window (the auctions) that was started in 2003. That window is closed. In those auctions the CBI directly sold dollars for dinars to the local banks INSIDE Iraq only -- basically, they traded money back and forth to each other, and that is how the CBI controlled the rate (what is called a programmed rate.)

The ForEx we watch only reflects those internal auctions because the dinar is not internationally tradable. This is what makes the ForEx curve look like castle walls, up, sideways, down, up, sideways, down, instead of a floating line like a heartbeat.

Harlequin3 cont……..The problem is, this is how the Iranian-backed banks would get USD and launder it through their fronts (money exchangers on the street) and it would get funneled into Iran. These auctions were supposed to only be a temporary thing for a couple years, but the crooks enjoyed skimming and laundering the dollars.

 In 2023, America said enough's enough. On Dec 30 the official announcement came to stop these currency auctions, on Dec 31 the final auction stopped. Now in Jan 2024, these metamorphosized (Frank's term) from out and out cash sales -- here's a dollar on the table for sale for real IQD on the table -- and switched to mostly an electronic platform (that's Saleh's 95% thing)

On Jan 1, the auctions stopped and became foreign reinforcements -- the CBI has nothing to do with this other than monitor and approve the transactions (with the UST, Ernst & Young, and K2 auditing the transaction BEFORE it happens, and ensures it goes where it's supposed to go -- not Iran -- and when it arrives.)

The CBI is NOT selling money to the banks anymore -- the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.)

So Bank A in Iraq is connected to Bank B in England, let's say, and they need foreign currency to cover their deposits, they request XYZ euros from Bank B -- for XYZ dinar at 1310 -- the money is ELECTRONICALLY wired back and forth.

There is a basket of currencies the banks can choose from: Euros, Yuan, Dirhams, Rubles, Jordanian Dinar, etc., etc. All the CBI is doing is watching this now, making sure it's legit.

On Jan 2, notice 7 banks in Iraq said, hey we need foreign currency! And 283m dinars' worth of that foreign currency electronically changed hands. No auction. This is how all banks all over the world operate. International standards.

It's audited on both ends, the request, and the completion. Today's exchange, had 279m dinar in the exact same fashion -- EXCEPT USD ARE allowed to be purchased (not in auction from CBI but from their international counterparts) from 5 (I think it's upped to 7 now) banks currently -- this dollar cash is permitted in Iraq for 3 purposes only: travelers request USD because they are traveling to the USA. They can't physically have the dollars until they've gone through airport security with their ticket, and they pick it up as they board the plane.

Second, the GOI IS allowed to use dollars for financing government approved projects -- audited by E&Y. (Building a bridge with an American company that requires American dollars, something like that.)

Or third, major medical procedures for citizens that require dollars -- that money is audited as it goes to the hospital for the procedure only.

Those are the only three legal uses for the dollar in Iraq. (Parliament wants a fourth for buying cars, so far Sudani says no, because that would be easy to launder.)

 This is effectively drying up dollars on the streets -- Parliament (who skims it) says, whoa, that will raise the demand for the dollar in the black market and the exchange rate will skyrocket -- Saleh/Alaq say no, this is a temporary inflationary bubble that is NOT real -- there IS no black market, you are pirates operating illegally with illegal currency -- there is only ONE currency in Iraq, the dinar, and it has an official rate of 1320 -- anything other than this is against the law.

Saleh says "this bubble" will burst -- which is why we're hoping to see a new rate by then, one higher than the dollar -- because then the citizens won't be looking for dollars illegally -- they'll have strong local national currency.

Without the auctions -- there is NOTHING manipulating and propping up the 1320 rate -- so.... what are they going to do? Raise the value.

 Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat. But all that goes to say the auctions HAVE stopped. What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money, it's between the two correspondent banks, and CBI is only auditing the transaction.

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Clare:  Economist: New steps by the Central Bank regarding dollar transactions

1/5/2025

Information / Baghdad..

Economic expert Safwan Qusay revealed today, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness.

Qusay said in a statement to Al-Maalouma Agency that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before implementing them.”

He explained that "this measure is in the interest of the Central Bank, as it contributes to avoiding the risks of money laundering cases and international sanctions," noting that "this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage, as they will deal with international correspondents and financial guarantees in addition to instant transfers, which enhances their position in global markets.”

He pointed out that "it is possible to rehabilitate banks facing current restrictions, which will lead to greater stability in the exchange rate," indicating that "the Central Bank attaches special importance in the next stage to increasing foreign currency reserves, which contributes to facilitating trade operations and supporting economic activity.”  LINK

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Clare:  Al-Sudani: The Development Road Project will enhance Iraq's power in the region

1/5/2025   Baghdad

Prime Minister Mohammed Shia al-Sudani confirmed today, Sunday, that the development road project will enhance Iraq's strength in the region, politically and economically.

During his reception of the Director of the Iraqi Institute for Dialogue, Abbas Radhi Al-Amiri, according to a statement from his office received by "Al-Eqtisad News", Al-Sudani was briefed on the work of the organizing committee for the Seventh Baghdad International Dialogue, whose activities will start on February 22-23, 2025 under the slogan "The Path to Iraqi Development... Alliance of Interests and Geopolitical Stakes", noting that choosing this topic falls within the great Iraqi interest in the project, which gives the country a pivotal role in the regional system as an important point of communication between the East and the West.

According to the statement, Al-Sudani expressed his "sponsorship of this annual international gathering hosted by the capital, Baghdad, which hosts an elite group of the most important decision-makers in the region and the world."  LINK

Clare:  Retrospectively.. Details of an agreement between Baghdad and Erbil to resume the region’s oil exports revealed

1/4/2025  Special

The Parliamentary Oil and Energy Committee revealed, on Saturday, the details of an agreement between Baghdad and Erbil to resume exporting oil extracted from the fields of the Kurdistan Region of Iraq.

Committee member Nahro Mahmoud said in an interview with Al-Rabia, "There was an agreement between the government delegation in the federal government and the Kurdistan Regional Government of Iraq," indicating that "the main dispute was over the cost of extracting and transporting the oil produced in the region and then exporting it."

He added, "The agreement stipulates amending the three-year budget law and allocating $16 as a temporary cost until one of the international consulting companies in this field is hired and given a period of 60 days."  LINK

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Clare:  Al-Sudani receives a "special" message from Trump: Syria, Iran and the factions

1/4/2025

An informed political source reported on Saturday that the Iraqi Prime Minister received a message from US President-elect Donald Trump.

The source told Shafaq News Agency that Al-Sudani received a message from Donald Trump through a special envoy on an unannounced visit, which included several axes.

The source pointed out that the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government.

Meanwhile, a government source told Shafaq News Agency that Iraq is working diligently to establish security in the region, and that the Prime Minister will present Iraq's vision in this regard during a visit to Iran.

On December 30, an informed source revealed that Prime Minister Mohammed Shia al-Sudani will begin a visit to Iran at the end of next week to discuss developments in the region.

The source told Shafaq News Agency that Al-Sudani will discuss several files with Iranian leaders, most notably the recent developments in Syria.

Al-Sudani had made several visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan and Saudi Arabia, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States.

Iranian President Masoud Pezeshkian visited Iraq on September 11, and made a three-day tour that included Baghdad, Erbil, Sulaymaniyah, Najaf, Karbala and Basra.

On May 22, Al-Sudani also visited Tehran to participate in the funeral of Iranian President Ebrahim Raisi, who was killed in a plane crash.  LINK

Economist’s “News and Views” Sunday 1-5-2024

Nation-State Breakdown: Is This the End?

The Jay Martin Show:  1-3-2024

On this week's episode, Grant Williams dissects the economic and geopolitical challenges redefining 2025. The conversation examines Germany’s faltering economy, Europe’s growing instability, and the global ripple effects of Donald Trump’s return to power.

Topics include inflationary and deflationary pressures, the nation-state model’s decline, and strategies for investors to prepare for heightened risks.

0:54 - "Key Trends Shaping 2025"

12:10 - "How Has the Investment Landscape Shifted?"

20:28 - "Inflation vs. Deflation: What Wins?"

30:50 - "What’s Trump’s Trade War Strategy?"

38:18 - "Why Is Germany’s Economy Failing?"

42:00 - "Could the EU Survive Without Germany?"

48:12 - "Is the Nation-State Model Dying?"

52:17 - "How Do Energy Policies Impact Economics?"

56:30 - "Who Could Replace Germany in the EU?"

59:11 - "What’s Next for Europe’s Future?"

https://www.youtube.com/watch?v=bYSqV105B2U

What Will Shock Markets In 2025? Bank Of America's Joe Quinlan On Economic Surprises

David Lin: 

Joe Quinlan, Head of Market Strategy at Bank of America, discusses the outlook for markets, economic growth, and monetary policy for 2025.

0:00 - Intro

0:30 - Market froth

1:20 - S&P 500 outlook

4:00 - Tariffs and sectors

6:40 - Tariffs

7:20 - Monetary policy

 10:11 - Small caps vs. large caps

14:50 - Tech themes 2025

16:45 - Commodities

17:50 - Bond yields

21:10 - Asset allocation

24:18 - Dollar

25:30 - Books to read

https://www.youtube.com/watch?v=igEG7yG37-M

MARKETS A LOOK AHEAD: Something Big Is Happening... Is It Brilliance? Insanity? OR EVIL?

Greg Mannarino:  1-5-2024

https://www.youtube.com/watch?v=dFuqPntrCn4

“Tidbits From TNT” Sunday 1-5-2024

TNT:

Tishwash:  Iran invests $1 billion in joint oil field with Iraq

 The executive director of the joint Azar oil field development project with Iraq, in the city of Ilam in western Iran, stated that the Economic Council’s approval for developing the second phase of the Azar oil field is in the form of new oil contracts with an investment of more than one billion dollars, expecting this contract to enter into force before the end of this year (the Iranian year ends on March 20).

In a statement to the official Iranian news agency IRNA on Saturday, Keyvan Yar Ahmadi said: By holding several specialized meetings with representatives of the Planning and Budget Organization and submitting an explanatory report with supporting documents related to the technical work description and financial estimate for the implementation of the project

And explaining the objectives of developing the Azar oil field, the approval of the Economic Council was finally obtained for developing the second phase of this oil field in the form of new oil contracts with an expected investment of more than one billion dollars, and it is expected that this will be done with the fulfillment of the basic conditions in the contract by the contractor and the relevant procedures by the employer, and this contract will be implemented and become effective before the end of this year.

Yar Ahmadi pointed to the launch of the Dehloran Gas and LNG Plant (NGL-3100) in the near future, and said: The compression and sweetening facilities of the associated gas in the Azar field, which were completed a long time ago, have been launched and are ready to send gas to this plant.

Accordingly, all the activities of the first phase of the development of this field will be determined and the main milestone (the turning point and main point of the project's progress) will be delivered. The first phase of the development of this complex plant will reach its goal by achieving all the contractual targets and sharing the Iranian share of more than 70%, which has led to the production of 83 million barrels of oil and revenues of nearly $6 billion.

It is noteworthy that the Azar oil field is located in the city of Mehran in Ilam province, western Iran.

The reserves of this field amount to 2 billion and 500 million barrels of crude oil, and the amount of oil that can be extracted from it is estimated at 400 million barrels.  link

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

Tishwash:  Al-Sudani's Advisor: 3 Economic Benefits for Iraq from Foreign Partnerships

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the common external ties with the world contribute to achieving three main positive results for the Iraqi economy, while pointing out the importance of these ties in enhancing comprehensive economic development.

Saleh explained to {Euphrates News} that: "The first result is represented in diversifying the national economy, as these links contribute to breaking the monopoly of the economy and reducing dependence on oil resources, by supporting the advanced agricultural, industrial, tourism, and services sectors."

He also stressed "the importance of encouraging small and medium enterprises, which are the backbone of the sustainable economy, especially with the strength and stability of global links."

The second result is related to strengthening partnerships with the private sector, as Saleh pointed out "the need to facilitate partnerships between the public and private sectors to implement major projects, in addition to providing incentives to the private sector to invest in non-oil sectors, which enhances the diversity of the economy."

He added that "the third result lies in investing in human resources, by developing the education and vocational training system to meet the needs of the labor market rapidly."

Saleh called for "promoting innovation and entrepreneurship among young people, with a focus on artificial intelligence technology and the effective integration of information technology and knowledge," noting that "Iraq can benefit from its strategic geographical location as a link between Asia and Europe to enhance its role as a global trade center through the "Development Road" project. 

He stressed "the importance of building strong economic relations with countries such as China, Europe, Turkey, Iran, and the Gulf states to achieve an exchange of economic benefits," stressing that "Iraq looks forward with steadfastness and a clear vision to achieving this goal through legislation and regulations that facilitate its integration into the global economy, while enhancing international cooperation and building long-term economic relations."

At the end of his statement, Saleh stressed that "stability in all its aspects is a basic condition for implementing these steps and achieving comprehensive economic development." 

The head of the National State Forces Alliance, Mr. Ammar al-Hakim, stressed during his speech at the mass gathering in Najaf on the anniversary of the martyrdom of the Martyr of the Mihrab, Grand Ayatollah Sayyid Muhammad Baqir al-Hakim {may God sanctify his secret} yesterday, Friday, that combating corruption, establishing security, and building a balanced economy is our gateway to building a strong state, while calling for striving through Iraq To establish long-term economic ties and common interests that our peoples and the peoples of our Arab and Islamic region enjoy.

Mr. Ammar Al-Hakim also stressed the importance of focusing on reconstruction projects, economic development and increasing investments in the country.  link

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

Tishwsh:  Al-Nusairi: Monetary policy indicators for 2024 confirm that the Central Bank is the first economic institution in Iraq

The economic and banking advisor and member of the International Union of Arab Bankers, Samir Al-Nusairi, confirmed that through accurate financial and statistical analysis, the Central Bank of Iraq revealed the positive indicators it achieved for the third quarter of 2024 compared to the same period in 2022-2023, and also announced the suspension of work on the electronic platform on 12/31/2024.

Al-Nusairi explained in an interview with "Al-Eqtisad News" that the success of the monetary policy adopted by the bank during the year 2024 and the positive indicators of business results for the third quarter/2024 compared to the same period for the years 2022-2023, which indicated the following: Total deposits in banks operating in Iraq achieved a growth of (4.2%), in contrast, cash credit granted by operating banks recorded a growth of (11.6%), and deposits in private banks operating in Iraq recorded a growth of (14%), in contrast, cash credit granted by private banks achieved a growth of (15.1%), in contrast, the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024.

He added that the gold reserves of the Central Bank of Iraq recorded a significant growth of (57%), as their value reached (16) trillion dinars, compared to their value of (10.7) trillion dinars in the third quarter of 2023. The important thing is that the annual inflation rates recorded a percentage that is 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, maintaining the general price rate, achieving the most important goals of monetary policy, and the success of monetary policy in Iraq.

Al-Nusairi stressed that by the end of 2024, it becomes clear beyond doubt that the procedures of the Central Bank of Iraq and the efforts it has made since the beginning of 2023 until now, with the support and cooperation of the government, have borne fruit and begun to yield positive results according to what was planned, with detailed procedures and administrative and technical steps and understandings

 To regulate the financing of foreign trade with Arab and international banks by approving the opening of accounts for Iraqi banks in American, Chinese, European, Emirati, Indian and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which are the dollar, euro, Chinese yuan, Indian rupee, Emirati dirham, Turkish lira, Jordanian dinar and Saudi riyal,

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

He pointed out that the strategy of the Central Bank of Iraq implemented in 2024 to reform the banking sector adopted the restructuring, development and classification of banks and increasing their capital to the ceiling set by the Central Bank according to the specified timetables, which led and will lead to raising the capabilities of Iraqi banks to provide the best banking products and services to customers and to the economy, investment and development and moving to comprehensive digital transformation and compliance with international standards and helps in lifting the restrictions imposed on our (28) private banks.

He pointed out that foreign transfers, which reach 97%, are made at the official exchange rate, and work is underway to facilitate foreign transfers for small traders and to identify speculators' plans to harm the Iraqi economy.

A foreign exchange reserve of 153 tons of gold has been maintained, with a cumulative reserve ratio of 140%, to cover imports and local currency in circulation and provide the necessary liquidity to meet the needs of the Ministry of Finance to implement the government's operating budget.

He also noted that the developmental measures for technical, technological and administrative infrastructure in the Central Bank are being implemented accurately and comprehensively in its banking reform strategy in all its axes, and are an embodiment of what it has specified in the roadmap that it has clarified in cooperation with the government in accordance with what is stated in the government's program in Axis 12 (Financial and Banking Reform) and Paragraph 7 thereof, which is related to developing and enabling banks to contribute to development and investment.

Al-Nusairi concluded his speech by saying that the efforts made by the Central Bank in 2024 are an affirmation of the soundness of the implementation of its third strategy for the years 2024-2026, and it is trying to achieve its main and subsidiary goals according to their timetables, with wishes for success and achieving economic stability because the primary duty of banks is to be (stability) banks.  link

Mot:  Clears That Question Up!! -- HUH!!!! 

 Mot: ... One More of the Plexing Things We ----

Iraq Economic News and Points to Ponder Saturday Evening 1-4-25

Dollar Continues To Fall Against Dinar In Baghdad And Erbil With Closing

Economy  | 04/01/2025   Mawazine News – Baghdad   The dollar prices fell in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday, with the closing of the stock exchange at the beginning of the week.

The dollar prices also fell with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 151,600 Iraqi dinars for every 100 dollars, while this morning it recorded 151,700 dinars for every 100 dollars.

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

In Erbil, the dollar also recorded a decline, where the selling price reached 151,400 dinars for every 100 dollars, and the purchase price reached 151,200 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=258196

The Iraqi Government Succeeds In Recovering 50 Billion Dinars From The Corrupt During 2024

Money and business  Economy News – Baghdad  The Parliamentary Integrity Committee confirmed, today, Saturday, that the government succeeded in recovering 50 billion dinars from the corrupt during the past year, while indicating that Prime Minister Mohammed Shia Al-Sudani played a prominent role in reducing corruption files.

Committee member MP Alia Nassif said: "Al-Sudani and the Integrity Commission had an effective impact in reducing the aggravation of these files and prosecuting those involved in them," noting that "the government also succeeded in recovering about 50 billion dinars from those involved in corruption files in the Deal of the Century, in addition to the Director General of Refineries and the Assistant Director of Investment during the year 2024."

Nassif pointed out that "the anti-corruption operations also included pursuing those involved in real estate fraud files," noting that "most ministries and governorates formed sub-committees to stop the waste of public money."  199 views  01/04/2025 - https://economy-news.net/content.php?id=51588

Al-Sudani's Advisor: 3 Economic Benefits For Iraq From Foreign Partnerships

Time: 2025/01/04 19:03:39 Read: 1,508 times  {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the common external ties with the world contribute to achieving three main positive results for the Iraqi economy, while pointing out the importance of these ties in enhancing comprehensive economic development.

Saleh explained to {Euphrates News} that: "The first result is represented in diversifying the national economy, as these links contribute to breaking the monopoly of the economy and reducing dependence on oil resources, by supporting the advanced agricultural, industrial, tourism, and services sectors."

He also stressed "the importance of encouraging small and medium enterprises, which are the backbone of the sustainable economy, especially with the strength and stability of global links."

The second result is related to strengthening partnerships with the private sector, as Saleh pointed out "the need to facilitate partnerships between the public and private sectors to implement major projects, in addition to providing incentives to the private sector to invest in non-oil sectors, which enhances the diversity of the economy."

He added that "the third result lies in investing in human resources, by developing the education and vocational training system to meet the needs of the labor market rapidly."

Saleh called for "promoting innovation and entrepreneurship among young people, with a focus on artificial intelligence technology and the effective integration of information technology and knowledge," noting that "Iraq can benefit from its strategic geographical location as a link between Asia and Europe to enhance its role as a global trade center through the "Development Road" project.

He stressed "the importance of building strong economic relations with countries such as China, Europe, Turkey, Iran, and the Gulf states to achieve an exchange of economic benefits," stressing that "Iraq looks forward with steadfastness and a clear vision to achieving this goal through legislation and regulations that facilitate its integration into the global economy, while enhancing international cooperation and building long-term economic relations."

At the end of his statement, Saleh stressed that "stability in all its aspects is a basic condition for implementing these steps and achieving comprehensive economic development."

The head of the National State Forces Alliance, Mr. Ammar al-Hakim, stressed during his speech at the mass gathering in Najaf on the anniversary of the martyrdom of the Martyr of the Mihrab, Grand Ayatollah Sayyid Muhammad Baqir al-Hakim {may God sanctify his secret} yesterday, Friday, that combating corruption, establishing security, and building a balanced economy is our gateway to building a strong state, while calling for striving through Iraq To establish long-term economic ties and common interests that our peoples and the peoples of our Arab and Islamic region enjoy.

Mr. Ammar Al-Hakim also stressed the importance of focusing on reconstruction projects, economic development and increasing investments in the country.  LINK

Gold Rises In Baghdad And Stabilizes In Erbil
Saturday 04 , January 2025 | Economic Number of readings: 172  Baghdad / NINA / Gold prices recorded a rise in the markets of the capital, Baghdad, today, Saturday, while they stabilized in Erbil.

The selling prices of gold in the wholesale markets on Al-Naher Street in Baghdad, this morning, recorded 564 thousand dinars per mithqal of Gulf, Turkish and European gold, 21 carats, and 560 thousand dinars for purchase.

The selling price of one mithqal of Iraqi gold, 21 carats, recorded 534 thousand dinars, and 530 thousand dinars for purchase.

In goldsmiths' shops, the selling prices of a mithqal of Gulf gold, 21 carats, ranged between 565 thousand dinars and 575 thousand dinars, while the selling prices of a mithqal of Iraqi gold ranged between 535 thousand dinars and 545 thousand dinars.

In Erbil, gold prices recorded a remarkable stability, as the selling price of 24-karat gold reached about 648 thousand dinars, and 21-karat, 567 thousand dinars, while the selling price of 18-karat gold reached about 485 thousand dinars/End  https://ninanews.com/Website/News/Details?key=1178228

More Than A Billion Dollars In Central Bank Sales During The Past Week

Saturday 04 , January 2025 | Economic Number of readings: 168 Baghdad/ NINA / The Central Bank of Iraq's hard currency sales during the past week amounted to more than one billion dollars.

The Central Bank sold, during the four days of the auction, one billion, 168 million, 534 thousand, and 738 dollars, at a daily average of 292 million, 133 thousand, and 684 dollars, up from the previous week, when the daily average was 291 million, 196 thousand, and 182 dollars.

Monday's sales topped the list with the highest sales, amounting to 298 million, 344 thousand, and 336 dollars, while the lowest sales were on Thursday, when they recorded 283 million, 484 thousand, and 126 dollars.

Foreign remittance sales during the past week amounted to one billion, 91 million, 984 thousand, and 738 dollars, compared to cash sales that amounted to 76 million, 550 thousand dollars.

The bank opened its auction last week over four days: Sunday, Monday, Tuesday, and Thursday./End7

https://ninanews.com/Website/News/Details?key=1178249

Securities Commission Announces Financial Performance Indicators For 2024

economy | 03:04 - 04/01/2025   Mawazine News – Baghdad  The Securities Commission announced, today, Saturday, the main financial and economic indicators for the year 2024, indicating the remarkable growth in the performance of the Iraqi financial market and the expansion of its activities, reflecting the growing confidence in the market and its role in supporting the national economy

The Authority stated, in a statement received by (Mawazine News), that "the number of companies listed and registered in the Iraqi financial market reached 112 joint-stock companies, distributed as follows:

1. The number of companies listed on the regular and second trading platforms and not disclosed reached 104 companies.

2. The number of companies registered on the platform of unlisted companies (ISX-OTC) reached 8 companies.

Government bonds The market witnessed the trading of several types of government bonds, including:
• Construction bonds - two issues in two categories.
• Reconstruction bonds - three issues in two categories.
• Achievement bonds - two issues in two categories.

Bond trading indicators for the year 2024

1. The market traded 25,000 bonds from the second construction bond issue with a total value of 24,124,525,000 dinars.

2. The market traded 5 bonds from the first reconstruction bond issue with a total value of 4,920,000 dinars.

Stock trading indicators for the year 2024 The market recorded significant activity in stock trading:

1. The number of traded shares reached 809,708,623,733 shares, an increase of 17% compared to 2023.

2. The value of traded shares amounted to 690,408,795,990 dinars, an increase of 3% compared to 2023.

3. The number of executed contracts amounted to 182,967 contracts, an increase of 17% compared to 2023.

Regarding market indices:

• The ISX60 index closed in the last session of December at 1073.84 points, an increase of 20.23% compared to the closing of 2023.

• The ISX15 index closed at 1174.65 points, achieving an increase of 10.12% from its launch value.
• The market value for the year 2024 amounted to about 22,325,544,721,711 dinars, an increase of 19% compared to the year 2023.

Trading via the ISX-OTC platform The platform executed the trading of 5,982,484,498 shares worth 2,591,438,576 dinars through 2,295 transactions on the shares of three listed companies (Al-Warka Bank, Al-Rabee Brokerage, Al-Karmel Brokerage). The market value of the platform amounted to 105,702,830,262 dinars.

As for joint-stock companies
, • 72 joint-stock companies held annual general assembly meetings.
• 80 companies submitted their annual financial statements for the year 2023.
• 17 companies approved increasing their capital in accordance with the Companies Law.
• 22 companies distributed dividends to their shareholders.

The Chairman of the Securities Commission, Faisal Al-Haimus, stressed, "The positive indicators achieved by the Iraq Stock Exchange during 2024 reflect the great efforts made by the Commission to regulate the market and enhance transparency and trust.

We are committed to continuing to develop the financial market to be a fundamental pillar to support the national economy and attract more local and international investments.

 We look forward to achieving greater achievements in the coming year, while strengthening the market infrastructure and expanding the scope of participation by the public and private sectors."

The Commission stated that the first stock trading session for 2025 will be held next Tuesday according to the official trading session times.  https://www.mawazin.net/Details.aspx?jimare=258188

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 1-5-25

Good Morning Dinar Recaps,

FDIC WANTED TO SEND SHOCKWAVES THROUGH BANKS, ACCORDING TO RIPPLE'S TOP LAWYER

Coinbase's top has called on Congress to investigate 'Operation Choke Point 2.0'

Stuart Alderoty, chief legal officer at Ripple, has opined that the Federal Deposit Insurance Corporation (FDIC) tried to send "shockwaves" throughout various banks with its intimidating letters.

"As a former bank GC, these letters scream one message: shut down everything crypto-related ASAP—not just the products and services mentioned," he said on social media. This comes after cryptocurrency trading giant Coinbase managed to secure a court order in order to get plenty of unredacted letters that were sent to dozens of banks by the FDIC.

According to Paul Grewal, chief legal officer at Coinbase, there was a "coordinated effort" to put a stop to a wide array of crypto activities, including mundane Bitcoin transactions.

The recently published letters are supposed to support the crypto industry's long-standing claims about the so-called "Operation Choke Point 2.0." 

The original "Operation Chokepoint," which was uncovered by The Wall Street Journal back in 2013, was conducted by the FDIC by issuing informal suggestions to banks in order to clamp down on various high-risk activities that ranged from firework sales to payday loans. The initiative attracted widespread criticism due to violating due process to specifically target disfavored industries. 

Cryptocurrency advocates have alleged that a similar playbook is being used against their industry. Earlier, Alderoty spoke in great detail about the supposed "origin story" of this anti-crypto initiative, arguing that crypto became the new target in 2021 when the Office of the Comptroller of the Currency (OCC) started demanding pre-approval for banks' crypto activities. 

The FDIC then followed suit in 2022. Grewal has called on Congress to investigate this alleged crackdown. "The new Congress should launch hearings on all this without delay," he said.

@ Newshounds News™

Source:  U Today

~~~~~~~~~

IOTA READY FOR MAINNET RE-LAUNCH: BRIDGING DEFI AND INSTITUTIONAL NEEDS WITH MoveVM + EVM

▪️IOTA is ready to launch an enhanced mainnet protocol with EVM and MoveVM integrations.

▪️The IOTA Rebased protocol will boost the adoption and functionalities of RWAs and tokenizations.

With the IOTA Rebased protocol, the network is reportedly set for its mainnet re-launch in early 2025. On social media platform X, Michael Atlan highlighted that the mainnet re-launch positions IOTA for real-world adoption.

New IOTA Mainnet To Bridge DeFi and Institutional Needs

Altan explained that IOTA is bridging the needs of Decentralized Finance (DeFi) and institutions through MoveVM and EVM integration. As CNF reported, the IOTA Foundation recently introduced the Rebased protocol set to improve the network’s scalability, programmability, and decentralization.

The Rebased protocol establishes a completely decentralized Layer 1 (L1) network with the addition of advanced features. 

These new features include Ethereum Virtual Machine (EVM) and Move Virtual Machine (MoveVM) support. MoveVM introduces strong data abstraction capabilities, simplifying complex resource management tasks.

Additionally, the direct integration of EVM into the L1 layer aims to enhance the security and decentralization of dApps built on IOTA’s EVM Layer 2 network. The transfer of EVM operations to the L1 layer will also boost network activity, increasing burned tokens.

The IOTA Rebased proposal also seeks to deliver higher throughput, anticipated above 50,000 TPS on the network. IOTA has already released a public testnet to test these proposed changes in the real world.

CNF mentioned that the community had approved the initiative through a governance vote, with 98% of the voters supporting the motion. As a result, the mainnet release is set to go live in early 2025, per a CNF report.

Atlan added that IOTA’s establishment of regulated finance solutions and a $50 million growth fund signals its readiness for the mainnet re-launch. He also pointed out that the network has genuine collaborations and no VC baggage.

Furthermore, most tokens have already been circulated, highlighting the huge liquidity of IOTA.

IOTA’s Key Focus and Growing Adoption

Following its expanded use cases and widespread market, IOTA now focuses on distributed ledger technology. CNF recently disclosed that IOTA has progressed in tokenization, digital trade finance, regulatory compliance, and decentralized infrastructure.

The platform has formed strategic partnerships in tokenization projects, recently collaborating with the UAE. Such endeavors will open the door for innovative applications of asset tokenization within a regulatory framework.

The IOTA token is gaining ground in the crypto market through these initiatives and collaborations. The IOTA coin joined the latest market rally, posting an 18.53% increase in value to trade at $0.335.

IOTA price was trading at $0.3595 at press time, up 1.3% in the last 24 hours. The market capitalization rose to $1.2 billion, suggesting investor optimism. Crypto analyst Lokman Duman noted that upward momentum could push IOTA toward $0.3600 and $0.4000 in the near future.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

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Bank Runs are Back, Fed Reserves Plunge to Critical Levels

Bank Runs are Back, Fed Reserves Plunge to Critical Levels

Steven Van Metre:  1-5-2024

The phrase “bank run” conjures up images of panicked crowds lining up outside financial institutions, desperate to withdraw their savings.

While we haven’t seen scenes quite like that in recent times, the underlying anxieties that fuel such events are resurfacing, fueled by a significant and concerning development: Federal Reserve bank reserves are plummeting to what some are calling critical levels.

The “reserves” we’re talking about are the funds that commercial banks hold at the Federal Reserve. These reserves are effectively part of the banks’ safety net, allowing them to meet daily obligations, clear payments, and generally operate smoothly.

A healthy level of reserves is crucial for maintaining the stability and liquidity of the financial system.

The recent decline in these reserves is raising red flags because it indicates a potential liquidity squeeze within the banking sector. When banks have fewer reserves, they have less cushion to absorb unexpected shocks, like sudden surges in withdrawal requests. This, in turn, can heighten the risk of a bank run – a situation where a large number of customers lose confidence in a bank’s ability to fulfill its obligations and attempt to withdraw their deposits simultaneously.

Several factors are contributing to this reserve drain. One major influence is the Federal Reserve’s ongoing efforts to combat inflation. The Fed is actively reducing its balance sheet, primarily by letting its holdings of Treasury bonds and mortgage-backed securities mature without replacing them.

This process, known as quantitative tightening, pulls liquidity out of the financial system, reducing the amount of reserves available to banks.

While the situation is certainly concerning, it’s important to remember that the financial system is far more complex than it was during previous banking crises. Regulators have learned from the past and implemented many safeguards. However, the rapid decline in reserves warrants close monitoring.

The current situation underscores the delicate balance between fighting inflation and maintaining financial stability. The Federal Reserve and other financial regulators will be closely monitoring the situation and ready to intervene if necessary. For the average person, it’s a reminder to stay informed about developments in the financial world and to consider diversifying their savings.

The headlines may sound alarming, and some level of concern is certainly warranted. However, a cautious approach, guided by reliable information, is always the best approach in navigating such complex economic waters. The future will hinge on policymakers’ ability to navigate this challenging landscape with precision and foresight.

Watch the video below from Steven Van Metre for further insights and information.

https://youtu.be/s0e1UuVC7nc