“Tidbits From TNT” Tuesday Morning 1-7-2024

TNT:

Tishwash A guarantor of zeroing out crises.. Parliamentary demands to legislate the oil and gas law

The Kurdistan National Union parliamentary bloc called on the federal government, on Tuesday, to expedite and send the oil and gas law to the House of Representatives for study and approval as quickly as possible. 

The bloc's spokesperson, Susan Mansour, said in a statement to Al-Maalouma Agency, "The enforcement of the oil and gas law is sufficient to eliminate the problems between Baghdad and Erbil," noting that "the law was very late in being included in the central government." 

She added, "The enactment of the law requires political understandings between the governments of Baghdad and Erbil to resolve the outstanding problems between the two parties." 

Mansour pointed out that "there are parliamentary demands for the government to send a draft oil and gas law to the House of Representatives for study and approval in accordance with what is stipulated in the State Administration Coalition Agreement." link

Tishwash:  Central Bank Tower and Faw Port on the list of world mega projects for 2025

The British platform “The B1M”, which specializes in the construction sector, has classified the Central Bank Tower project in Baghdad and the Grand Faw Port in Basra among the list of the most prominent mega projects in the world for the year 2025.

The Central Bank Tower project came in eleventh place, while the Grand Faw Port came in tenth place. 

This classification reflects Iraq's remarkable progress in the field of architecture and infrastructure on the international scene.

The B1M platform is one of the most prominent channels specialized in covering major construction projects, technological innovations, and modern trends, such as sustainability and smart cities, providing in-depth analyses of the ongoing transformations in the global infrastructure sector. link

https://youtu.be/pJ3ATTY13qo

***********

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

 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

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

Tishwash:  Venezuelan parliament calls on Maduro to seek third term

The President of the Venezuelan National Assembly (Parliament), Jorge Rodriguez, has officially invited the current President of the Bolivarian Republic, Nicolas Maduro, to assume a third presidential term on January 10.

“We confirm the invitation to Nicolás Maduro Moros, who was re-elected president of the Bolivarian Republic of Venezuela on July 28, 2024, to take office on January 10, 2025,” Rodríguez said live on Venezuelan TV during the first plenary session of the parliament this year, held on Sunday.
The inauguration and swearing-in ceremony will take place at 12 noon at the Federal Legislative Palace.

Rodríguez noted that parliament is obliged to “promote the application of the law against Edmundo González [who has declared himself president-elect of Venezuela], if he sets foot on the country’s territory, for treason and usurpation of power,” and also noted that he “will demand that anyone who tries to destabilize the peace in Venezuela be declared persona non grata.”

In the plenary session, Jorge Rodríguez was re-elected president of the National Assembly (parliament) of the Bolivarian Republic.

Venezuela held elections on July 28, which were won by the current head of state, Nicolás Maduro. He received 51.95% of the vote. His main opponent, Gonzalez, received 43.18% of the vote. On election day, opposition leader Maria Corina Machado said Gonzalez's team would not concede defeat in the election.  link

Mot: Getting ready for RV

Mot:  When Enough is Enough!!!

MilitiaMan & Crew Iraq Dinar News-ISX Big+Numbers-AI Technology-No Shortage of Liquidity-Port of Faw-CBI Tower

MilitiaMan & Crew Iraq Dinar News-ISX Big+Numbers-AI Technology-No Shortage of Liquidity-Port of Faw-CBI Tower

1-6-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=s6Mtoz8Hkkk

Iraq Economic News and Points to Ponder Monday Evening 1-6-25

Continuous And Strong Decline Of The Dollar In The Iraqi Markets Against The Dinar
Economy   | 05:35 - 06/01/2025  Mawazine News – Baghdad  The US dollar exchange rate against the Iraqi dinar fell on Monday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,000 dinars per 100 dollars, while this morning it recorded 151,350 dinars per 100 dollars.

Selling prices fell in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 150,000 dinars per 100 dollars.

In Erbil, the dollar also fell, where the selling price reached 151,800 dinars per 100 dollars, and the purchase price reached 150,700 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258268

Economist: Iraq Needs To Revitalize The Private Sector To Create Jobs And Absorb Graduates

Time: 2025/01/06 15:13:26 Read: 1,079 times {Economic: Al Furat News} Economic expert Basem Jamil Antoine stressed the necessity of working to create a productive society, pointing out that government departments in Iraq suffer from the presence of “disguised and hidden unemployment,” which can be overcome by activating the private sector.

Antoine explained in his interview with {Euphrates News} that “this activation will contribute to absorbing the number of graduates that reaches 250 thousand young men and women annually from universities and institutes.”

He added, "By creating job opportunities for graduates, we have guided them in the right direction and created a continuous technical cadre in the community, which will save us from leaking currency out of the country."

He pointed out that "diversifying sources of income in the country is necessary, and puts us on the right foundations to achieve sustainable economic growth."

In the context of the five-year plan that included job creation, Antoine stressed the need to “implement and follow up on the plans and not just write them,” stressing that “the House of Representatives bears responsibility for that.”

He added, "Job opportunities must focus on actual creation, not just on construction and residential complexes that generate nothing. Rather, a sound economic structure must be created that generates new economic generations."  LINK

Gold Prices Fall In Baghdad And Stabilize In Erbil 
Monday 06 , January 2025 11:24 | Economic Number of readings: 125  Baghdad / NINA / Gold prices (foreign and Iraqi) decreased in Baghdad markets on Monday, while they stabilized in Erbil.

The selling prices of gold in the wholesale markets on Al-Naher Street in Baghdad this morning for one Mithqal of 21 karat Gulf, Turkish and European gold was recorded at 556 thousand dinars, while the purchase price was 552 thousand dinars.

The selling price of one Mithqal of 21 karat Iraqi gold was recorded at 526 thousand dinars, while the purchase price was 522 thousand dinars.

In goldsmiths' shops, the selling price of one Mithqal of 21 karat Gulf gold ranged between 560 and 570 thousand dinars, while the selling price of one Mithqal of Iraqi gold ranged between 530 and 540 thousand dinars.

In Erbil, gold witnessed stability, as the selling price of a 24-carat mithqal reached 648 thousand dinars, a 21-carat mithqal reached 567 thousand dinars, and an 18-carat mithqal reached 485 thousand dinars. / End 11  https://ninanews.com/Website/News/Details?key=1178545

Oil Prices Rise To More Than 76.. The Highest Level Since Mid-October

Energy   Economy News – Baghdad   Oil prices rose to their highest since October on Monday as investors awaited the impact of cold weather in the northern hemisphere and Beijing's economic stimulus measures on global fuel demand.

Brent crude futures were up 15 cents, or 0.2%, at $76.66 a barrel by 0125 GMT, having settled at their highest since Oct. 14 on Friday. West Texas Intermediate (WTI) crude futures were up 22 cents, or 0.3%, at $74.18 a barrel after closing at their highest since Oct. 11 on Friday.

Beijing is ramping up fiscal stimulus to revive the struggling economy, announcing on Friday that it will sharply increase financing from long-term treasury bonds in 2025 to spur business investment and consumer-boosting initiatives.

On the supply side, Goldman Sachs expects Iran's production and exports to decline by the second quarter as a result of expected political changes and tougher sanctions from the administration of US President-elect Donald Trump.

The OPEC member's production could fall by 300,000 barrels per day to 3.25 million barrels per day by the second quarter, he said.

The number of rigs drilling for oil in the United States, an indicator of future production, fell by one to 482 last week, a weekly report from energy services firm Baker Hughes showed on Friday. https://economy-news.net/content.php?id=51650

Sound Productive Government Economic Thinking Methodology

Dr. Aqil Jabr Ali Al-Muhammadawi / Researcher in Finance and Development Affairs    The stability of oil prices in global markets for the past three weeks should be taken advantage of and a new economic renaissance strategy should be worked on through a systematic and studied transition according to a modern financial model by employing the surplus oil prices that exceed the budget price (or what is called the equilibrium price) to an approach of employing effective investment in the Iraqi Sovereign Fund and building new and legal financial buffers and vessels to strengthen and consolidate the financial system and sustain development in Iraq

and move the wheel of the economy and economic diversification and diversify the revenues of the federal budget and double the investment and development funds and create new incentives for growth and sustainable development in order to target increasing productivity and rebuilding the industrial, agricultural and tourism base and ensuring the achievement of financial savings according to new financial and economic models that support the economic renaissance strategy in Iraq. 01/06/2025 - https://economy-news.net/content.php?id=51655

British Platform Includes The Central Bank Tower And Al-Faw Port In The List Of Giant Projects In The World For The Year 2025
economy | 01:24 - 06/01/2025  Mawazine News - Follow-up  The British platform “The B1M”, specialized in the construction sector, ranked the Central Bank Tower project in Baghdad and the Grand Faw Port in Basra among the list of the most prominent mega projects in the world for the year 2025.

The platform’s report stated that “the Central Bank Tower project ranked eleventh, while the Grand Faw Port ranked tenth.”

This classification reflects Iraq’s remarkable progress in the field of architecture and infrastructure on the international scene.

The “The B1M” platform is one of the most prominent channels specialized in covering major construction projects, technological innovations, and modern trends, such as sustainability and smart cities, providing in-depth analyses of the ongoing transformations in the global infrastructure sector. https://www.mawazin.net/Details.aspx?jimare=258253

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

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

Good Evening Dinar Recaps,

FDIC PUBLISHES CRYPTO ‘PAUSE’ LETTERS INCLUDING USDF CONSORTIUM

In response to freedom of information requests by Coinbase, the Federal Deposit Insurance Corporation (FDIC) published minimally redacted letters sent to banks requesting information about their crypto activities and in most cases asking them to pause activities pending feedback. 

Last year, the FDIC’s Office of Inspector General objected that the FDIC had in most cases failed to provide feedback, leaving activities in limbo and impacting innovation.

On behalf of Coinbase, History Associates Inc asserted that the letters demonstrate the FDIC was part of “Operation Choke Point 2.0—a multi-agency effort to de-bank the digital-asset industry.” 

With one important exception, these particular letters don’t appear to support the de-banking claim. They reinforce the position of blocking banks from engaging with crypto and public blockchains.

Amongst the 25 letters disclosed, most of the banks wanted to offer their customers the ability to buy Bitcoin via their mobile banking apps. Often times, this was an indirect service to be provided by a third party.

The FDIC objects to public blockchain for USDF payments

By far the longest letter related to a planned blockchain-based fiat payment system to be operated by a consortium of banks. Despite five pages of tightly typed questions, which undoubtedly were answered, that consortium has so far only participated in Regulated Settlement Network simulations.

While the redactions removed the identities of the bank, we can confirm that the letter relates to the USDF Consortium, which originally planned to launch a payment system using a private protocol on the Provenance public blockchain.

On first reading, we suspected the letter related to USDF, because around this time the consortium shifted to a permissioned blockchain approach in a vain attempt to get approval. The use of the term ‘digital markers’ was the final confirmation, given this terminology is specific to USDF.

The letter indicates that the FDIC was interested in the roles of the non bank participants and their involvement in validating transactions. It also had questions about the use of the Hash cryptocurrency and whether banks would need to hold it, although the name ‘Hash’ was redacted.

Given this was before the launch of Fed Now, the FDIC asked the valid question about out of hours liability risks between banks for payments.

SAB 121 – custody    One of the most contentious crypto issues has been the SEC’s SAB 121 accounting rule, which prevented banks from providing cryptocurrency custody, although that certainly worked in Coinbase’s favor.

The crypto exchange has dominated custody for ETFs. While it has been claimed SAB 121 was formulated by the SEC without consulting other regulators, in many of the letters the FDIC asks for the bank’s analysis of SAB 121 and it’s applicability. This is a not-so-subtle way of saying, ‘you cannot provide custody’.

Other takeaways

Not all letters were equal. Apart from the USDF letter, there were three that stood out. One bank was being quite pushy, saying that it planned to launch crypto services on a specific date.

It had clearly provided extensive information to the FDIC already. The FDIC’s list of questions was far longer than for other banks, querying every claim the bank made, asking for evidence.

Moving on, when assessing risk, there’s the accounting concept of materiality. In other words, don’t focus on the small, irrelevant stuff. One bank spent $25,000 on an NFT. There were numerous detailed questions about this particular purchase.

Letter number 25 relates to a bank that wanted to provide deposit account services to a stablecoin but was told to wait for feedback. It is the only letter in the group that appears to block banking services. The New York-based bank first wrote to the FDIC a few days after Circle’s USDC stablecoin lost its peg in March 2023, following the collapse of Silicon Valley Bank.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUSTIN TRUDEAU RESIGNS, PRO-CRYPTO SUCCESSOR EXPECTED

Canada’s Prime Minister steps aside, crypto rejoices.

Canada’s Prime Minister, Justin Trudeau, who has been historically anti-crypto, resigned today, citing "internal battles" in Canada's governing party.

What’s the Scoop?

▪️Political Fallout: Trudeau’s approval rating is at 22%, and polls suggest his Liberal Party would suffer a major defeat in a snap election, winning just 46 seats to the Conservative Party’s projected 225.

▪️Pro-Crypto Successor: Pierre Poilievre, expected to succeed Trudeau, is a vocal supporter of DeFi and crypto, championing Bitcoin as a hedge against inflation.

Bankless Take

Trudeau’s resignation not only marks the end of his divisive tenure but signals a potential shift in Canada’s crypto policy landscape. While his administration adopted a cautious, and occasionally aggressive stance toward cryptocurrencies, Pierre Poilievre’s pro-crypto outlook could bring a stark contrast.

 If Poilevre does becomes his successor, Trudeau’s exit would further amplify the broader global trend of favor shifting towards forward-looking, pro-tech politicians, potentially positioning Canada for greater adoption and innovation under new leadership.

@ Newshounds News™

Source:  Bankless

~~~~~~~~~

FIVE CRYPTO COMPANIES GAIN MICA LICENSES ACROSS NETHERLANDS AND MALTA

▪️MoonPay, BitStaete, ZBD, and Hidden Road received MiCA licenses from the Dutch Authority, enabling EU-wide crypto operations.

▪️The Malta Financial Services Authority (MFSA) has also licensed blockchain-based sports and entertainment platform Socios.com

▪️Tether's USDT market cap dropped $2 billion under MiCA, raising concerns though analysts claims USDT will be unfazed by EU setbacks.

@ Newshounds News™

Read more:  Be In Crypto

  ~~~~~~~~~

STABLECOIN SKEPTIC MICHAEL BARR STEPS DOWN AS FEDERAL RESERVE'S VICE CHAIR FOR SUPERVISION AHEAD OF TRUMP INAUGURATION

The Federal Reserve Board has announced that Michael S. Barr is resigning from his position as Vice Chair for Supervision.

In a statement, Barr said he didn’t want a potential dispute over the position in the near future to distract from the Fed’s “mission.”

“The position of vice chair for supervision was created after the Global Financial Crisis to create greater responsibility, transparency, and accountability for the Federal Reserve’s supervision and regulation of the financial system.

The risk of a dispute over the position could be a distraction from our mission. In the current environment, I’ve determined that I would be more effective in serving the American people from my role as governor.”

Barr’s resignation comes less than two weeks before pro-crypto President-elect Donald Trump’s inauguration.

In 2023 during a speech at the Peterson Institute for International Economics, Washington, D.C., Barr warned about the “special risks associated with stablecoins,” advocating for stiffer regulations on the asset class.

Said Barr,

“Stablecoin issuers seek to have—but don’t—some of the same characteristics as federally insured bank deposits. Stablecoin issuers represent that their liabilities can be redeemed on demand at par, a dollar for a dollar. In fact, however, the assets backing the liability can fluctuate in value… The banks we regulate, in contrast, are well protected from bank runs through a robust array of supervisory requirements.

Consider the consequences if a stablecoin not subject to appropriate supervision and regulation were to be adopted as a widespread means of payment, which some stablecoin developers state as a goal. Stablecoins have the potential to scale quickly because of network effects.

An unregulated, unsupervised, deposit-like asset could create tremendous disruptions, not just for financial institutions but for people who might rely on the coin if it were to get wide adoption.

We must learn from the past to ensure that we do not allow for new forms of unregulated private money subject to classic forms of run risk, and with the associated spillovers and systemic implications for households, businesses, and the broader economy.”

@ Newshounds News™

Source:  Daily Hodyl

~~~~~~~~~

GEMINI AGREES TO PAY $5M CFTC FINE BEFORE DONALD TRUMP’S INAUGURATION

Gemini Trust Company reaches $5 million settlement with CFTC over Bitcoin futures case, choosing to resolve litigation before the upcoming Trump administration.

▪️The closure of the Gemini case is a huge welcome to the growth during the Trump administration.

▪️The Winklevoss brothers have been consistent in the web3 space for more than 10 years, thus growing a too-tier crypto exchange.

Gemini Trust Company, a New York-based cryptocurrency exchange founded in 2014 by the Winklevoss brothers, has agreed to pay a penalty of $5 million to the United States Commodity Futures Trading Commission (CFTC) to end a long-standing litigation.

The Winklevoss brothers agreed to pay the fine in a joint court hearing on Monday to avoid a trial set to coincide with the inauguration of pro-crypto US President-elect Donald Trump.

Gemini settled the case with the US CFTC without admitting or denying any liability in the case.

In June 2022, the US CFTC filed a complaint in the US District Court for the Southern District of New York against Gemini for issuing misleading statements of material facts regarding the Bitcoin futures product.

According to the US CFTC, Gemini failed to show how it would prevent Bitcoin price manipulation to ensure fair competition for all customers in its BTC Futures Product. However, the Gemini cryptocurrency exchange has opted to end the case ahead of the expected trial on January 21, which would have kickstarted after the much-anticipated inauguration of President-elect Donald Trump.

Furthermore, Gemini cryptocurrency exchange, among other web3 companies, is banking on the upcoming Trump administration to set clearer and better crypto regulations.

Possibly, most of the crypto companies are betting on the new leaders of the US SEC chair and CFTC to drop crypto-related cases, which were orchestrated by the Biden administration.

@ Newshounds News™

Read more:  CoinSpeaker

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Example of Bank appointment for Currency EXCHANGE Instructions/Checklist

From Recaps Archive by request……..

Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.

Bank appointment for Currency EXCHANGE Instructions/Checklist

For your own records

Bank Name_________________________________________

I have________________________ IQN(Iraqi)currency

I have________________________VNN(Vietnamese)currency

I have________________________1000 notes from2000 ofIDN (Indonesian)currency

I have_________100Trillion,________50Trillion,_______20Trillionand_______10Trillion
2008AAnotesofZWN(Zimbabwe)currency

FILL IN THE BLANKS for EXCHANGE appointment information that you get from the call
center representative:

Your appointment Information:

Date_________________________

TIME_________________________

The Location____________________

------------

The Day of Your Appointment- Things To Do

1. Make sure you know where you are going. Arrive early so you can “get yourself together, take a deep breath”.Do not loiter. If you are too early, stay SECURELY in the general area but not in the bank
parking lot! 

2. Remember to get in and get the EXCHANGE done, there a lot of other people behind you in line so be thoughtful of their time as well.

You will have time for questions at your second appointment with your new Private Banker/Wealth Manager.

3. Be discrete, be professional, and be alert and aware of your surroundings.  BREATHE!   Seriously consider hiring security to accompany you to your appointment or bring  a trusted friend.

4. Collect business cards from everyone or take their name and phone numbers as well as the location of their regular branch office.

5. Read and Sign the NDA. If it is simple and states you cannot tell anyone except your spouse, lawyer, or CPA (These are the people that need to know how you came about your money for tax purposes) how you came about all of your new found wealth, sign it and move forward with your exchange.

Be prepared to uphold it!

If you break the terms, you could lose your newfound wealth.

If the NDA is more complex and you  are not comfortable with it, simply let them know you would like to explore your options with another banking institution. They may or may not waive the NDA.  

REMEMBER TO GET A COPY OF THE NDA IF YOU SIGNED IT.

--------------

The Day of Your Appointment Things NOT To Do

Do not demand anything while at the bank or act like a lunatic, you will be escorted out.

Remember the Golden Rule “Treat others the way you wish to be Treated”!!!

------------

Items to Bring to the EXCHANGE Appointment

(Check off the list as you put all items needed together to make sure you remember everything)

“Driver’s License

“Second form of ID (accredit card or passport)

“Your most recent utility bill (Water, power, etc.) to confirm residency in case you have never held an account with the bank you will be exchanging with or for another form of ID

“Power of Attorney Paperwork (If you are exchanging for someone else)

“A pad, pen to take notes, calculator

“Receipts for all currency purchased or gifting letter if  they were a gift in case they are needed (Do not offer them, only do so if they are requested)

“IQN / VNN / IDN / ZWN currency

“Have your TOD designees (Transferable on Death) full legal names, phone numbers, addresses and Social Security Numbers written down that you want listed on your accounts.

You can have multiple TOD designations per account (Wife/Husband, Children, Grandchildren, Nieces/Nephews, etc.)

“Have a list of Cashier’s Checks you will need, if any, along with the exact amounts and who they need to be Payable to

New Account Numbers for each Currency EXCHANGED

( SOME SAY TO NOT EXCHANGE ALL CURRENCIES IN TO ONE ACCOUNT, OPEN SEPARATE ACCOUNTS FOR EACH CURRENCY!!!!...BUT THAT MAY HAVE CHANGED OVER THE YEARS)

Name of Bank Exchanger____________________________________________

Bank____________________________________________

Branch___________________________________________

Checking Account Number__________________________________________

Checking Routing Number__________________________________________

Savings Account Number (Deposit 50% of your Exchange for Taxes just in case and do not touch until Tax Time)_________________________________________

Add TOD (Transferable on Death) Names to Accounts (Checking and Savings)

“Make sure you receive copies of the deposit slips and all account information

“Get Clean and Clear Certificates – at least 10 or more (Documentation that your money is not tied to anything illegal)

“Get starter checks if needed until your checks arrive

“Get ATM card if you want one

“Set up Online Banking if wanted

“Inquire about Extra Insurance for your funds __________

(Use the same format for all currencies if they are also exchangeable at this time)

~~~~~~~~~~~~~~~

DID YOU GET A COPY OF YOUR SIGNED NDA?

Set second appointment with a Private Banker or Wealth  Manager  (The bank will guide as to who you need to speak with based on your EXCHANGE/deposit amount

This appointment will be the one in which you discuss all of your options for investment and
your “perks”

Private Banker Name__________________________
 
Telephone Number____________________________

Appointment time______________

Location___________________________

Short Monday Evening Chat With MarkZ 1-6-2024

Monday Evening News With MarkZ

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: Good Evening fellow hopium addicts

Member: fingers crossed Mark heard something good today

Member: Just like the bond holders-I am very wealthy and just waiting for access to my accounts..lol

MZ:I am hearing ya….This will be a short one this evening…just not much news

Member: As the Auctions continue- the saltiness grows.

MZ: I had a good article on that yesterday . The current auctions are strengthening external balances in banks. They specifically said they are strengthening the exchange rate.

Member: do you see the Iraq dinar going by itself?

MZ: I know there are some that claim that…..but I don’t think so. My sources still think its going at the same time as the rest of our currencies.

Member: Nader just posted 1170 IQD per one Us dollar

Member: is the dinar floating?

MZ: its floating in the parallel market in a direction that supports us. It was 1500 a few days ago in the parallel markets which mean we are watching the dinar gain value in the free market. They are changing how auctions work and want us to know why..

Member: Things in Iraq are very confusing….guess that’s the way they want it.

​​Member: IMO-Iraq is in a holding pattern waiting…. due to the mess in the US.

MZ: on the bond side – I had 2 contacts check in and they are expecting funds over the next 4 days ….so per their update today – between now and the 10th. Final contracts this week. This is encouraging because it fits with everything else we are hearing.

MZ: We are praying they actually get payments this week- because you and I are right behind them …or at the same time. When they start getting their money- our notifications should go out.

MZ: No news from groups today….that was disappointing. I was hoping to get some check-ins from large tier 4a groups.

Member: Have a great evening Mark, let’s park this RV!

Member: Later Mark and Mods. see you tomorrow...thanks for all you do….

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Youtube:     https://www.youtube.com/watch?v=o50ZEhMIyn4

Kickstart a Frugal 2025 With These 9 Expert Money Challenges

Kickstart a Frugal 2025 With These 9 Expert Money Challenges

Cara Danielle Brown   Sun, January 5, 2025 GOBankingRates

 If you indulged in a bit too much online shopping or partook in a few too many girls’ trips in 2024, you may be looking to start 2025 on a more financially savvy note. After all, those Steve Maddens were undoubtedly cute, but ordering 10 different styles may have been overkill.

Since it’s never a bad idea to build better financial habits, cut unnecessary expenses, and boost savings, GOBankingRates put together nine ways for you to kickstart a frugal 2025, according to some expert penny pinchers.

52 Week Challenge

Proving that a little bit adds up over time, Joy Wrenn, founder of FrugalCreativeLiving.com, suggests saving money each week for all 52 weeks of the year. Start small with $1 the first week … then add an additional $2 the second week until you finally add an additional $52 the last week of the year.

At the end of 52 weeks, you will have accumulated $1,378 which can be put towards retirement or other investments. This small, weekly contribution is a consistent way to build savings without it feeling like too much of a financial strain.

Negotiate Discounts

“Call your phone, cable, or internet providers, and every monthly or annual plan you have and ask for discounts,” said Laurie Hise, founder at Passionate Penny Pincher. Sometimes it’s as simple as just asking to put on those big boy pants. “Don’t hesitate — many companies are willing to offer better rates to retain customers.”

No-Spend Month Challenge

TO READ MORE:  https://www.yahoo.com/finance/news/kickstart-frugal-2025-9-expert-160015237.html

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

Good Afternoon Dinar Recaps,

BRICS BRAZIL:  BRAZIL TAKES OVER THE BRICS PRESIDENCY IN 2025

Country takes the helm of the Global South political and economic cooperation forum,

Starting  January 1, 2025, Brazil officially takes the helm of BRICS, the prominent forum for political and economic cooperation among nations of the Global South.

The presidency marks a pivotal moment for the country as it seeks to advance a vision of more sustainable and inclusive global governance, foster deeper economic ties, and mobilize financing to combat climate change.

BRICS, an acronym representing Brazil, Russia, India, China, and South Africa, has recently expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. This enlargement solidifies the group as a central platform for collaboration among developing nations,

Brazil has outlined an ambitious agenda under the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” Its presidency will prioritize two main areas: advancing Global South cooperation and reforming global governance structures.

These themes translate into five key priorities:

1. Facilitating Trade and Investment: Promoting economic integration through the development of efficient payment systems.

2. Regulating Artificial Intelligence: Encouraging inclusive and responsible AI governance for development purposes.

3. Addressing Climate Change: Enhancing financing mechanisms to support global efforts, in coordination with the COP30 climate summit.

4. Public Health Collaboration: Strengthening cooperation projects among member countries, focusing on improving public health systems.

5. Institutional Development: Bolstering the internal frameworks of BRICS to ensure effective governance and decision-making.

“If you want to build a better world, a sustainable world, BRICS has to be part of this construction. And it’s important to have an understanding among these countries, because this understanding helps achieve broader agreements [with other nations],” stated Ambassador Eduardo Saboia, Brazil’s BRICS sherpa, in an interview with Agência Brasil.

GLOBAL SOUTH COLLABORATION - The forum’s objectives extend beyond its immediate membership, aiming to enhance economic, political, and social cooperation while increasing the influence of Global South nations in international governance. 

Ambassador Saboia highlighted the importance of mutual understanding among BRICS members, noting that the group’s diversity is a strength. “These countries, with their distinct political systems and unique challenges, come together annually, fostering solutions that benefit their populations,” he emphasized.

EXTENSIVE AGENDA - As the host nation, Brazil will oversee the organization and coordination of more than 100 meetings, starting in February and continuing through July in the capital, Brasília.

These gatherings will bring together officials, policymakers, and experts to deliberate on the presidency’s priorities. 

The discussions will culminate in the BRICS Summit, scheduled tentatively for July in Rio de Janeiro, where heads of state and government will chart the bloc’s future course. Brazil’s mandate will run until December 31, 2025.

ROTATIONAL LEADERSHIP - The BRICS presidency rotates among member states in the order of the acronym, but with the inclusion of new members, the bloc is expected to revisit its rotational formula. The changes reflect BRICS’ evolving dynamics as it continues to adapt to the shifting geopolitical landscape.

@ Newshounds News™

Source:  Brazil Gov

~~~~~~~~~

BRICS NEWS: INDONESIA OFFICIALLY JOINS AS FULL MEMBER

In a move that showcases a further expansion of the economic alliance, the BRICS bloc has welcomed Indonesia as a full member. Indeed, Brazil announced that the country would be joining the collective, according to a Reuters report.

Moreover, the move takes place as the South American nations commences its opportunity to take over the groups rotating presidency for 2025.

Brazil has stated that Indonesia has been accepted after its application bid was accepted during the group’s 2023 annual summit. The Asian nation has requested its acceptance be halted amid presidential elections last year, where Prabowo Subianto was officially elected. Now, Indonesia has become the 10th member of the growing economic group.

Indonesia Officially Joins BRICS as Full Member Ahead of Crucial 2025

Over the last two years, the BRICS economic alliance has emerged as a key global economic and geopolitical presence. The group was formed through the promising potential of Brazil, Russia, India, China, and South Africa more than two decades ago. Yet, it was not until recently that it embraced its status and sought to increase its position on the world’s stage.

Another key part of that pursuit has taken place today. Indeed, the BRICS bloc has reportedly welcomed Indonesia as a full member of the growing economic alliance. The country is set to join the group after being approved for entry in 2023. Moreover, it has long sought to be included in the growth prospects being derived by the global south.

“Indonesia shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening cooperation of the global south,” 2025 BRICS President Brazil said in a statement.

The country is joining the bloc on the precipice of an immensely important year. US President-elect Donald Trump has not been shy of its issue with the group. Earlier this year, he warned of the imposition of 100% tariffs on nations seeking to ditch the US dollar.

He specifically targeted BRICS, noting the development of their own alternative currency. Whether or not those plans will continue remains to be seen. The bloc appears to be facing increased dissension from the United States’ shift this year.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE ADVOCATE DEATON STRESSES IMPORTANCE OF REGULATORY CLARITY FOR RIPPLE IN US

The CryptoLaw founder and major Ripple advocate John Deaton has shared his reflections on the Ripple CEO’s recent statement about Ripple rapidly expanding in the U.S. since early November, offering a universal solution for Ripple and other crypto companies’ growth in the U.S.

American crypto business suffers from lack of regulatory clarity: Deaton

In his tweet, John Deaton quoted Ripple chief executive Brad Garlinghouse, who said that since a pro-crypto president-elect won in early November, over the last six weeks of 2024, Ripple has signed more deals in the U.S. than during the previous half-year.

Deaton underscored that it is “impossible to estimate damage” suffered by Ripple and other cryptocurrency businesses headquartered in the U.S. due to the lack of regulatory clarity for the crypto industry. 

The Ripple advocate admitted that he has encountered many crypto businesses whose teams would say that they prefer to avoid the U.S. market and not to offer anything to U.S.-based investors.

Simple solution to many of these problems, per Deaton

The CryptoLaw founder reminded the community about the “gross government overreach and selective enforcement” that Ripple had to struggle with in court for approximately four years, defending itself against the SEC and its chairman, Gary Gensler, who is to step down from his position at the end of January.

Ripple scored two big victories, in July 2023 and then in late 2024, as it proved that XRP was not a security (on the secondary markets) and reduced the $2 billion fine demanded by the SEC down to $125 million. Deaton stressed that, aside from the issue of regulatory clarity, the cryptocurrency space also suffers from excessive regulations that “continue to stifle innovation” within the country.

The only solution to many of the issues mentioned by Deaton is the elimination of bureaucracy — of the red tape that rules in the U.S. He offered the situation with the housing shortage crisis in the country as an example, and the necessity to wait for “two years to pull necessary permits.”

Ripple advocate Deaton hopes that the new president's administration will make that happen and solve the problem at least partly — and not only for the crypto industry, causing a “ripple effect. Hopefully, we will see a Ripple effect (pun intended) throughout industries, caused by the excitement of a new administration.”

@ Newshounds News™

Source:  U Today 

  ~~~~~~~~~

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More News, Rumors and Opinions Monday Afternoon 1-6-2024

KTFA:

Clare:  Interior: "Your Card at Home" service will be activated soon and will include all Iraqis

1/5/2025   Baghdad - WAA

The Ministry of Interior announced, today, Sunday, that about 9 million people will be registered for the national card during 2024, while indicating that the "Your Card at Your Home" service will be activated soon and will include all Iraqis.

The Director General of the Unified National Card Department, Major General Ahmed Al-Maamouri, told the Iraqi News Agency (INA): "The year 2024 witnessed many achievements regarding our directorate, as its name became the Directorate of Nationality and Civil Information instead of the Directorate of National Card Affairs," indicating that "8 million, 848 thousand and 27 people were registered in the civil information system for the national card during 2024."

He added, "The total number of registrants since the beginning of the project in 2015 to date has reached 42 million, 81 thousand and 166 people in the civil information system," noting that "the year 2024 witnessed the opening of central registration sites in Baghdad and all governorates, which numbered 19 registration centers."

He stressed that "these centers will allow citizens to register for the national card and record all the vital facts of themselves and their families, regardless of their place of residence or place of registration," noting that "this procedure has effectively ended the procedures for transferring citizens' populations between governorates due to the lack of need, and has made it much easier for citizens through this service by reducing the effort and financial burdens by visiting other governorates where their place of registration is."

He explained that "there is no need to transfer citizens' records or records between governorates, as long as these registration sites have been opened in all governorates of Iraq," noting that "the service of your card in your home will be activated this year, meaning that the citizen who wishes not to go to the department in which he is registered, the national card issued to him will be delivered to his home."

He stated that "this service will be activated during this year and will be available to all citizens," explaining that "the mobile station service that was launched in 2024 was provided by 23,247 citizens, and also witnessed the provision of 7,823 citizens from those lying in hospitals as well as shelters, social care, the elderly and orphanages."   LINK

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

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

1/5/2025

“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.

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

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

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

Militia Man  To be a global economic powers [Iraq's] exchange rate will need to be far different than 1310.  It's just the way it's going to be.  They haven't done anything yet.  They're hiding things when it comes to that.

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:Mr Sammy says everything is in place in his eyes.  The only thing Mr. Sammy thinks we need is for Iraq to reveal a new rate to show and back the stability of the dinar as a new global currency.  FRANK:  Yes sir Mr. Sammy because that's what the contractors are waiting for.

Jeff   The currency auctions prior to the beginning of November were averaging around $250 million daily...Since November... they've remained elevated about $280 to $300 million daily...They're emptying their coffers of the US dollar prepping to revalue.

Get Ready For Extreme Volatility in 2025

Heresy Financial:  1-6-2024

TIMECODES

0:00 Intro

0:32 Where is the Volatility Coming From

1:43 Easing Financial Conditions to Tightening

6:17 Money Market Funds Don't Equal Liquidity

7:58 Changes to Monetary and Fiscal Policy

https://www.youtube.com/watch?v=CvkccmcwSx8

“Coffee With MarkZ” Monday Morning Chat 1-6-2024

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: Happy Monday Morning to everyone waiting on the RV trigger to be pulled.

Member: Anyone feeling confident in saying they think that this will be our week?

Member: I want to believe…….but not confident…maybe Mark has some RV news today?

Member: Man I sure hope them bonds people get paid this week

Member: Today is Army Day in Iraq, the banks are closed until tomorrow.

Member: Rumor that Chase bank put out a memo on the IQD and payments under 10,000 IQD are not supported???

MZ: Well….under their current system –when the value changes it will not count at all on the limit….they are talking about 10K worth of transfers. What you should be excited about is they have a mechanism in place to deal with the IQD. They are clearing telling us…and if you look through their list of currencies- it includes almost every single one that many of us in this community have picked up. I think you should be excited and not worried about this. .

Member: Hoping it changes to a whole new gold backed acct….

Member: Will Wells Fargo be one of the exchanging banks?

MZ: I am 100 percent sure Wells Fargo is a participating bank.

Member: MrC says RV not until Inauguration...just 2 more wks; we haveta hold on!

Member: there is also a rumor after the election certification today…the trigger could be pulled

Member: Certification starts at noon, expected to be done by 1 PM EST

Member: Lots of stuff happening today

Member: BREAKING: The Canadian Dollar is surging on reports of Justin Trudeau resigning.

MZ: He is expected to resign by Wed morning.

Member: So when DJT is certified today, Castro-Trudeau resigns by Wed, my Swiffer mop comes in on Thursday … pinch me! Excellent week ahead!  lol

Member: Fox news has an article about infrastructure investment in Iraq and how they will be a leader in the region

Member: Al-Eqtisad News", stated that "the financing of the salaries of civilian and military retirees and social care for the current month of January has begun."

MZ: Auctions in Iraq have been occurring. I was told by a contact over there that this is the final part of their de-dollarization.

MZ: “The Iraqi dollar and the first day “passed peacefully” The Central Bank is innocent and free for the dinar” According to Iraqi Press today is the first day without the auctions. I am feeling good about auctions ending which should mean a new rate.

MZ: I am told Iraq was reducing their reserves to de-dollarize the market. This in anticipation of a rate change.

Member: Mark, we simply love Iraqi rumors on RV dates and rates. It keeps us going lol

MZ: “Central Bank Tower and Grand Faw Port in the list of mega projects in the world for 2025” on the list of mega projects around the world…2 of them happen to be in Iraq. This is not a country going nowhere….They will be increasing their value. The dinar and Iraq is about to have a renaissance…..and increased value.

Member: Mark, have any of your bond contacts that have gone silent in the past resurfaced?

MZ: Bond Guys: I am expecting a number of updates throughout the day. European contacts are back in their seats today. First time since right before Christmas. News should start flowing this afternoon.

Member: Difference between banks and redemption Centers?

Member: Redemption centers are in redeeming banks…..and will have enhanced security for high wealth individuals. This is required for the very large exchanges that are expected. Also rates may be much higher.

Member: I will be glad when a lot of the rumors/lies are shut down

Member: Stay positive Patriot visionaries and Dinar Faithful!!! This is it!!! This is our week!!! The wait is over!!! Let the blessings begin!!! No more delays or excuses. No more double talk. This is it!! RV!

Member: I think this is a big week for us all. Sit back and enjoy the ride…….God bless

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=vFciNeJFTEI

Iraq Economic News and Points to Ponder Monday AM 1-6-25

Economist: The Government’s Measures Did Not Close The Gap Between The Official And Parallel Price Of The Dollar

 January 5 10:55  Information / Baghdad...Economic affairs researcher Diaa Abdel Karim said that  government measures regarding government and private banks and issuing decisions about exchange companies were unable to close the gap between the official and parallel dollar exchange rates.  Abdul Karim told Al-Maalouma,

 “The parallel exchange rate for the dollar is approximately 20,000 Iraqi dinars higher than the official one, as  it is a big difference with the official selling price at the Central Bank outlets, and it requires the government to intervene to take further measures to eliminate this difference.”".

He added,  "There is an urgent need to take measures that would stop any transactions in dollars at home, including ending transactions in dollars regarding the buying and selling of cars in trade showrooms, where citizens resort to buying dollars from banking outlets in order to go to official or private showrooms to buy a car." He stated,

“The government can open a window and allocate it to sell dollars for the purpose of buying a car,

 or

 impose strict control and force official exhibitions not to deal in dollars, in order to limit foreign currency to foreign transfers, travel, and imports, and

 the dollar is sold in official outlets only, in order to end the difference between the official and parallel prices.”. End25n  

  https://almaalomah.me/news/87261/economy/اقتصادي:-اجراءات-الحكومة-لم-تغلق-الفجوة-بين-السعر-الرسمي-وال

Expert: Jordanian And Gulf Banks Control The Iraqi Banking Sector And Push It Toward Collapse
 
    January 4 18:35
Information / private..
 
Economic expert Mustafa Akram Hantoush confirmed today, Saturday, that the
 
banking system is going through a major crisis, noting that
 
Gulf and Jordanian banks have now controlled the monetary and dollar sector inside Iraq.
 
Hantoush said in a statement to the Maalouma Agency,
 
"The Iraqi banking system is almost non-existent at the present time, as four or five Gulf and Jordanian banks control the movement of funds." He added,
 
"Four Jordanian banks submitted applications to enter the Iraqi market, and two of them succeeded in operating, while two others, Al-Ittihad and Housing, are still under study." He explained,
 
"This situation strengthens the dominance of these banks over the dollar, while local banks are facing major challenges, as some of them remain in the market, while others are forced to search for agreements with Jordanian and Gulf banks in order to continue working," adding,

"Whoever does not succeed... In reaching agreements with these banks, he will move towards merging or exiting the market.” He pointed out that
 
"the banking system was previously suffering from weakness in its structure, and
 
today it is in a state of complete collapse," stressing that
 
"it has become very difficult to obtain loans in Iraq easily, and
 
whoever succeeds in this needs relationships and mediation, which reflects the situation in Iraq."
 
"Stagnation and paralysis in the Iraqi banking system."
 
It is noteworthy that the United States imposed sanctions on 34 Iraqi banks in an attempt to restrict the Iraqi economy, which opens the way for five Jordanian and Gulf banks to enter the Iraqi market, with the aim of completely controlling the economy amid the silence of the Iraqi government. 25 d finished    
  
https://almaalomah.me/news/87219/economy/خبير:-المصارف-الأردنية-والخليجية-تسيطر-على-القطاع-المصرفي-ال

Continuing The Iraqi Currency Auction: Enhancing External Balances And Banks’ Interest In Cash Carriers
 
January 5, 2025 Last updated: January 5, 2025
 
Independent/- The Central Bank of Iraq began the beginning of 2025 by continuing its monetary policy through the foreign currency auction, as
 
it organized an auction on Sunday, January 5, 2025, in a new step towards enhancing external balances of hard currency,
 
which reflects the continuity of the bank’s strategies in
 
     supporting exchange rate stability and
     ensuring Liquidity required in the markets. 

Auction details and exchange rates
 
In this context, the Central Bank of Iraq sold in its last auction an amount of 297 million 78 thousand and 208 dollars, at different exchange rates depending on the type of transactions.
 
A base exchange rate of 1,310 dinars per dollar was set for documentary credits and international settlements for electronic cards, while a price of 1,310 dinars per dollar was set for external transfers, while the cash sale price was 1,305 dinars per dollar.
 
Sales Distribution: Boost balances for cash withdrawals
 
The data showed that
 
most of the dollar sales at the auction went to strengthen balances abroad, as foreign remittances amounted to 279 million 828 thousand and 208 dollars, equivalent to about 93.91% of the total sales.
 
As for cash withdrawals, they did not exceed 17 million and 250 thousand dollars, which highlights the greater trend towards enhancing balances outside Iraq.
 
Number of participating banks and companies
 
The sales were distributed among a number of banks and exchange companies participating in the auction. The 
 
     number of banks that purchased cash dollars reached one bank, while the
 
     number of banks that requested an increase in external balances reached 9 banks.
 
19 exchange companies also participated in the auction,
 
which reflects the diversity of participants in the dollar sale process and increases the flexibility of the auction organization mechanism.
 
Strategic objective of the auction
 
The currency auction is considered one of the effective tools used by the Central Bank of Iraq to achieve several main goals, including:
 
1. Exchange rate stability: By controlling the supplied quantities of dollars, the central bank works to limit fluctuations in the exchange rate of the Iraqi dinar against the US dollar, which enhances economic stability.

2. Meeting the needs of the local market: By providing hard currency to importing companies, the bank contributes to ensuring the continuity of the flow of goods and products to the local market.
 
3. Strengthening external reserves: Strengthening balances abroad through external remittances is part of ongoing efforts to maintain the stability of the financial system and meet import and international trade needs.
 
Challenges and criticisms
 
Despite the significant economic goals that the central bank seeks to achieve through currency auctions, these operations are not without some challenges.
 
The most prominent of these challenges are:
 
•Depletion of cash reserves: Concerns are growing that the expansion of selling the dollar may lead to a reduction in the country’s cash reserves, threatening financial stability in the long term.
 
• The possibility of corruption and money laundering: Questions are raised from time to time about how some companies or banks exploit the currency auction to smuggle or launder money, which requires intensifying oversight and scrutiny of buying and selling operations.
 
Future actions and directions
 
To reduce concerns related to these challenges, the central bank seeks to enhance transparency in auction processes.
 
These steps include
 
     publishing auction details periodically, and
     implementing advanced control systems to ensure the integrity of transactions.
 
In addition, the bank seeks to diversify the monetary tools used to achieve monetary policy objectives without harming the national economy.
 
Conclusion
 
The currency auction organized by the Central Bank of Iraq remains a key tool in implementing the country's monetary policies.
 
Despite the challenges and fears that accompany it,
the Central Bank continues to organize auctions to
 
     stabilize the exchange rate,
     meet the needs of the local market, and
     enhance balances abroad.
 
While pursuing ongoing reforms and enhancing transparency, this auction remains an essential part of Iraq's efforts to achieve sustainable economic stability.  
  
https://mustaqila.com/مواصلة-مزاد-العملة-العراقية-تعزيز-الأ/    

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