News, Rumors and Opinions Thursday PM 1-9-2025

KTFA:

Clare:  Rafidain: 1395 departments have started activating electronic collection

1/9/2025  Baghdad

Rafidain Bank announced today, Thursday, that 1,395 departments have started activating electronic collection.

The bank said in a brief statement received by "Al-Eqtisad News", "The departments that have started activating electronic collection and collecting amounts electronically have reached 1,395 departments." LINK

Clare:  Al-Nusairi: Explains the new mechanism for external transfers after the platform is closed

1/9/2025  Baghdad

Economic and banking advisor Samir Al-Nusairi explained that closing the electronic platform on 12/31/2024, which was used by the Central Bank for prior auditing and controlling the transparency of foreign transfers and ensuring their arrival to the final beneficiary and overcoming suspicions of money laundering and terrorist financing, is not, as some believe, closing the platform is a closure of foreign transfers, but rather a change in the mechanisms to achieve fluidity and speed by reducing the links.

Al-Nusairi said in a televised interview that it is not normal for the Central Bank or the US Federal Reserve to carry out executive procedures, but rather the task of central banks is supervision and control, and the electronic platform was a stage in this direction, and now we have reached the stage that is practiced in the countries of the world according to international banking standards through the direct relationship between local banks and correspondent banks.

He added that transfers in other currencies will enable Iraqi banks that do not have correspondents in American banks to conduct their transfers through correspondent banks in other countries such as China, Turkey, the United Arab Emirates, India, Europe, Jordan and Saudi Arabia. This will lead to expanding the number of Iraqi banks that participate in foreign transfers and reduce pressure on other banks.

He stressed that the exchange rate announced as the parallel rate does not reflect the price reality, firstly because Iraq does not have the parallel market situation, which is only achieved when it has sources of dollars and currencies other than the Central Bank, such as private sector exports, remittances from residents abroad, tourism, etc., so it has exchange rates that correspond to the official exchange rate at the Central Bank, and that speculation in dollars on the black market is punishable by law.

Secondly, limiting the sale of cash dollars to travelers and through a strict mechanism has made cash dollar sales at a minimum level, and therefore what is in circulation is what remains with travelers. We should look at the price at which the Central Bank covers all external operations, including imports and personal transfers for the purposes of study and treatment abroad and legitimate purposes, which explains the stability of prices in light of the current inflation rate, which is about 3.1% less than the inflation rates in Arab, regional and neighboring countries. This means that the Central Bank has achieved a basic objective of monetary policy.

Al-Nusairi expressed his surprise that some people calculate the banks’ revenues from selling the dollar by measuring the difference between the market price and the official price, which is a big mistake because the banks do not transfer at the market price but at the official price monitored by the Central Bank

. He explained that the foreign currency selling window is dedicated to securing the Iraqi dinar for the purposes of the Ministry of Finance’s operating budget and to enhance the banks’ balances in foreign currencies for external transfers and to cover the cash dollar for travelers and for other legitimate needs of citizens.  LINK

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

Jeff  Up Until, through the end of September...was the government's busiest time period for having and holding sessions of parliament, getting record steps done, all in preparation for them to revalue.  Since September they only got a few odds and ends done.  Why so little?  Because they have a rate change date and they are working around that date...awaiting the revaluation...In this month of January you're witnessing them on a small level starting to implement their banking reforms via what they're doing through the currency auctions.  That's another critical preparation step for them to revalue the currency...

PompeyPeter  They won't carry on until they have something out on Forex.  Let's not forget the importance of that because that's attached to WTO.  I think that's an enormous indicator of where we're at.  They've got to pull the plug.  They've got to show that rate internationally on Forex even if they show 1310, which they won't because they'll implode economically, but they've got to put something up on that board.  They've got to show the international world the currency...It's got to be up there.

NEW FIGURES REVEAL: Dollar Reserves Crash to 30-Year Low as Banks Stockpile Gold

Taylor Kenny:  1-9-2024

The U.S. dollar’s global reserve share has hit a 30-year low, signaling declining confidence in its stability. Central banks worldwide are diversifying into gold as the risks of hyperinflation and a currency reset loom.

This video explores the rapid de-dollarization trend, its historical parallels, and what steps you can take today to safeguard your financial future.

CHAPTERS:

00:00 The Dollar’s Global Reserve Share Hits a 30-Year Low

00:31 The Vicious Cycle of Inflation and De-Dollarization

01:33 How Quickly Could the Dollar’s Dominance Collapse?

 03:15 Lessons from the 1970s: Inflation and Reserve Decline

 05:34 Alternatives to the Dollar: CBDCs and Geopolitical Shifts

07:46 Central Banks Move to Gold: The Safe Haven Asset

09:37 The “Frog in Boiling Water” Analogy

https://www.youtube.com/watch?v=zD7YFbQGSPg

Iraq Economic News and Points to Ponder Thursday Afternoon 1-9-25

 The 10 Largest Arab Countries That Possess Foreign Exchange Reserves For The Year 2024.. This Is Iraq’s Rank
 
Economy  2025-01-08 |Source:   Al Jazeera Net   5,580 views  Alsumaria News - Foreign exchange reserves are assets denominated in a foreign currency held by a central bank.
 
Countries usually keep their foreign exchange reserves in the US dollar because it is the most widely traded currency in the world.
 
Among other currencies in which foreign exchange reserves are sometimes kept, according to the “World Publication Review” platform, are the following:

Euro (EUR)
Japanese Yen (JPY)
British Pound (GBP)
Chinese Yuan (CNY)
 
These reserves are used to support obligations and influence monetary policy, and  most of them are held in US dollars, according to the Investopedia platform.
 
Foreign exchange reserves consist of cash and other assets held by central banks and other financial institutions such as the International Monetary Fund, according to the World Economic Forum, citing City Index, a financial services provider.
 
China is the largest country with foreign exchange reserves in the world, with $3.73 trillion in December 2024, according to the Statista platform.
 
The importance of foreign exchange reserves and why do countries resort to them?
 
City Index listed 7 main reasons why central banks hold foreign currency reserves:
 
1- Help maintain the value of the local currency at a fixed rate.
 
For example, China pegs the value of the yuan to the dollar.
 
By hoarding dollars, Beijing raises the value of the dollar against the yuan, thus
 
increasing sales by making Chinese exports cheaper than goods manufactured in the United States.
 
2- Keeping the value of the local currency lower than the value of the dollar.
 
Japan, which applies a floating exchange rate system, buys US Treasury bonds or government bonds, to keep the value of the yen lower than the value of the dollar. This again helps in keeping its exports relatively cheaper.
 
3- Maintaining liquidity.
 
In the event of an economic crisis, the central bank can intervene and replace its foreign currency with local currency to ensure the ability of companies to continue importing and exporting competitively.
 
4- Fulfilling the state’s international financial obligations.
 
This may include repaying debts, financing imports and absorbing sudden capital movements.
 
5- Financing internal projects.

6- Reassuring foreign investors.
 
Wars or internal unrest may scare away investors who may be looking to move their money abroad.
 
Maintaining foreign exchange reserves can create an atmosphere of confidence and allay investor fears.
 
7- Diversifying investment portfolios.
 
By holding various currencies and assets as reserves, the central bank can provide protection in the event that an investment declines.
 
The top 10 countries with foreign exchange reserves in 2024
 
The following is a list of the 10 largest countries possessing foreign exchange reserves, denominated in US dollars, during the year 2024, according to what was reported by the Statista and Trading Economics platforms, in addition to the central banks in these countries .
 
1- China   Reserves: $3.7 trillion
 
Its foreign exchange reserves amounted to $3.73 trillion as of December 2024, according to the Statista platform, up from $3.266 trillion in November 2024.
 
Last October, the yuan fell by 1.8% against the dollar, while the latter strengthened by 1.8% against a basket of other major currencies.
 
Meanwhile, China's gold reserves rose to 72.96 million troy ounces after remaining stable at 72.80 million troy ounces for the previous six months. However, its value decreased to $193.43 billion from $199.06 billion in October 2024, in line with the decline in gold prices, according to the “Trading Economics” platform, which was based on the People’s Bank of China.
 
The Trojan ounce (equal to 0.031 kilograms) is a weight system used for precious metals and gemstones, and is based on a pound of 12 ounces instead of the traditional pound of 16 ounces.
 
2- Japan   Reserves: $1.24 trillion
 
Foreign exchange reserves rose by $49 million, reaching a total of 1.24 trillion in November 2024. In a recent disclosure, Japan’s Ministry of Finance revealed that it spent 5.53 trillion yen ($35 billion) last July on “interventions in the foreign exchange market.” "(foreign exchange interventions) with the aim of supporting the yen , according to Trading Economics and based on the ministry's own data.
 
3- Spain:   Reserves: $1.07 trillion
 
Foreign exchange reserves rose to $1.07 trillion in November, from $1.045 trillion - in October 2024 - according to Trading Economics and according to the Bank of Spain.

4- Switzerland   Reserves: $801 billion
 
The Swiss National Bank's foreign exchange reserves rose to 724.5 billion francs ($801 billion) in November 2024, the highest level since June 2023.
 
5- India    Reserves: $640 billion
 
Foreign exchange reserves held by the Reserve Bank of India fell to the equivalent of $640 billion in the last week of 2024, the lowest level since last April, and the decline extends from a record high of $704.9 billion in the last week of September 2024, according to Trading. Economics based on Reserve Bank of India.
 
6- Russia   Reserves: $616.5 billion
 
Foreign exchange reserves fell to $616.5 billion in November 2024 from $631.6 billion in October 2024, according to the latest available data.
 
The average foreign exchange reserves in Russia amounted to $313.5 billion from 1992 until 2024, and reached their highest level ever at $633.7 billion last September, according to Trading Economics, according to the Russian Central Bank.
 
7- Taiwan    Reserves: $576.7 billion
 
Foreign exchange reserves fell to $576.68 billion in December 2024, down from $577.97 billion the previous month.
 
This was affected by the revenues from the management of foreign exchange reserves in Taiwan, and movements in the exchange rates of other reserve currencies against the dollar .
 
In addition, the Central Bank intervenes to mitigate volatile capital flows to maintain a regulated foreign exchange market, according to Trading Economics, according to the Central Bank.
 
8- Saudi Arabia   Reserves: $449 billion
 
Foreign exchange reserves decreased to 1.688 trillion riyals (about 449 billion dollars) in November from 1.63 trillion riyals (434 billion dollars) the previous month, according to the Central Bank of Saudi Arabia.
 
9- Hong Kong   Reserves: $425.1 billion
 
Foreign exchange reserves rose to $425.1 billion in November 2024, the highest level since last February, from a 3-month low of $421.3 billion the previous month.
 
This represents more than 5 times the currency in circulation, or about 39% of the Hong Kong dollar, according to Trading Economics and according to the Hong Kong Monetary Authority.
 
10- South Korea   Reserves: $415.6 billion
 
Foreign exchange reserves rose to $415.6 billion in December 2024 from $415.4 billion in the previous November, according to Trading Economics and according to the Central Bank of South Korea.

The 10 largest Arab countries possessing foreign exchange reserves in 2024
 
Below is a list of the 10 largest Arab countries possessing foreign exchange reserves in 2024, based on central banks , the Trading Economics platform, and others.
 
1- Saudi Arabia   Reserves: $499 billion
 
Foreign exchange reserves decreased to 1.688 trillion riyals (about 449 billion dollars) in November from 1.63 trillion riyals ($434 billion) in the previous month, according to the Central Bank of Saudi Arabia.
 
2- UAE   Reserves: $210 billion
 
Official foreign currency reserves amount to about $210 billion, according to Central Bank data.
 
The Central Bank's total foreign assets exceeded 770 billion dirhams ($209.6 billion) at the end of last June, for the first time in the history of the Emirates, according to the bank's latest statistics, as reported by the local news agency.
 
3- Iraq   Reserves: $106.7 billion.
 
Foreign exchange reserves decreased to 139.68 trillion dinars (the local currency in Iraq (about $106.7 billion)) in October from 143 trillion dinars ($109 billion) in September 2024, according to the Trading Economist.
 
4- Algeria   Reserves: $72 billion
 
Finance Minister Aziz Al-Fayed recently announced that foreign exchange reserves will rise by about 4.4% in 2024 to 72 billion dollars, from 69 billion at the end of 2023, and 61 billion at the end of 2022.
 
Al-Fayed stated - during his presentation of the draft general budget of Algeria before the representatives of the National Council - that foreign exchange reserves outside gold continued to rise during the current year, expecting to close the current year with a surplus in the trade balance estimated at 2.8 billion dollars, equivalent to 1.1% of the gross domestic product, which amounted to 267 billion last year, according to news agencies.

5- Qatar   Reserves: $69 billion
 
The Central Bank of Qatar announced an increase in international reserves and liquidity in foreign currency by 5.05% in November 2024 to reach 254.74 billion riyals (about 69 billion dollars) compared to 244.81 billion riyals (about 66 billion dollars) in November 2023, as reported. In a statement carried by the Qatar News Agency.
 
6- Egypt   Reserves: $47.1 billion
 
The Central Bank of Egypt said that net foreign reserves rose to $47.1 billion at the end of December 2024, compared to about $46.95 billion at the end of November 2024.
 
7- Kuwait   Reserves: $41 billion
 
A monthly bulletin issued by the Central Bank of Kuwait revealed an increase in the balance of foreign exchange reserves at the end of November 2024, reaching about 12.65 billion dinars (about 41 billion dollars), compared to its balance at the end of October 2024, which amounted to 12.52 billion dinars (40.6 billion dollars), an increase It is 1%, with a value of 127 million dinars, according to the local newspaper Al-Anbaa.
 
8- Morocco   Reserves: $32.8 billion
 
Foreign exchange reserves reached $32.8 billion in November 2024.
 
Reserves in Morocco reached an all-time high of $35.3 billion in July 2021 and a record low of $7.9 billion in January 2002, according to the CEIC Data platform.
 
9- Jordan    Reserves: $21 billion
 
The Kingdom's foreign exchange reserves increased by $21.1 billion during the first 11 months of 2024, a significant increase that is now sufficient to cover 8.4 months of Jordan's imports of goods and services.
 
The Central Bank confirmed that this reserve amount is the highest in the country’s history, which represents a remarkable achievement for financial stability.
 
10- Lebanon   Reserves: $10.3 billion
 
Foreign exchange reserves fell for the first time in more than a year as the Lebanese Bank pumped more dollars to support the lira following weeks of war.
 
The reserves of the Bank of Lebanon decreased by more than $400 million in October 2024, which is the first decrease since July 2023, according to official data reported by Bloomberg.
 
Foreign exchange reserves now stand at about $10.3 billion, excluding $5 billion in international bonds that the Lebanese state defaulted on. https://www.alsumaria.tv/news/economy/512234/أكبر-10-دول-عربية-تمتلك-احتياطيات-نقد-أجنبي-للعام-2024-هذه-مرتبة-العرا  

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-9-25

Good Afternoon Dinar Recaps,

SOUTH KOREA TO ALLOW CORPORATE FIRMS TO INVEST IN CRYPTO: WHAT’S NEXT?

▪️FSC’s new policy allows businesses to participate in digital asset investments legally.

▪️FSC proposes raising stock ownership limits for companies from 5% to 15%.

▪️Over 30% of South Koreans actively trade cryptocurrencies, indicating significant market growth.

South Korea is preparing for a big shift in its approach to cryptocurrency. The Financial Services Commission (FSC) has announced plans to let corporations invest in digital assets. This decision could create new opportunities for businesses and give the country’s crypto industry a significant boost.

New Rules for Corporate Investments

Right now, companies in South Korea face strict rules on cryptocurrency investments, including challenges in opening real-name accounts. To change this, the FSC plans to start by allowing non-profit organizations to invest in digital assets under a regulated framework.

FSC Director Kwon Dae-young highlighted the importance of clear standards for listing cryptocurrencies and enforcing rules for virtual asset exchanges. This initial phase will help create a safer and more structured environment for investments.

Building a Safer Crypto Market

The FSC is also working on broader rules for issuing and trading digital assets. The goal is to make the process more transparent and secure while supporting innovation in the market.

To protect investors, the FSC plans to limit market participation to trustworthy companies. This includes introducing shareholder eligibility checks, requiring social credit ratings, and setting stricter guidelines for risky assets like meme coins.

Beyond cryptocurrency, the FSC is looking to make other financial reforms. One key proposal is raising the limit on how much stock companies can own in non-subsidiaries, increasing it from 5% to 15%. This change aims to give businesses more flexibility and control.

South Korea’s Growing Crypto Influence

South Korea’s decision to embrace corporate crypto investments shows its growing recognition of digital assets. While the global market faces challenges, the country is positioning itself as a leader in innovation.

Earlier, CoinPedia reported that the Bank of Korea, established under the Virtual Asset User Protection Act, disclosed that more than 30% of South Korea’s population is now engaged in crypto trading.

By opening its doors to corporate crypto investments, South Korea is setting a precedent that could inspire other nations to follow suit.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

DOJ CLEARED TO SELL $6.5B SILK ROAD BITCOIN – NO MORE U.S. BTC RESERVE?

Wallets holding the seized BTC from Silk Road were intact at the time of writing.

▪️DOJ has reportedly approved the sale of seized 69K BTC, which Trump planned to repurpose for strategic reserve.

▪️No seized BTC had been moved from key wallets as of this writing.

Crypto Twitter has been abuzz with speculation that the U.S. Department of Justice (DOJ) greenlighted the sale of 69K Bitcoins [BTC], worth $6.5B, seized from Silk Road.

The update was first shared by media publisher DB News, citing a U.S. official.

In an X (formerly Twitter) post dated the 9th of January, the publisher stated,

“The U.S. Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today. Interesting situation less than 2 weeks away from the new admin who vowed to not sell.”

What’s next for U.S. BTC strategic reserve?

Market sentiment has always been impacted whenever updates on the U.S. government’s movement of BTC surface.

Given that President-elect Donald Trump pledged to form a U.S. BTC strategic reserve (SBR) using the above seized BTC, potential actions are even more scrutinized by the market.

Some community members speculated that the seized BTC had already been sold through a ‘credit line.’ One user claimed,

“The “seized BTC” that was meant to be used for a ‘strategic reserve’ [under the Trump administration] was sold off already, with a credit line sanctioned by Coinbase.”

Some flagged the update as FUD. In fact, Arkham data showed no balance decline in wallets linked to seized BTC at press time.

However, if true, the sale could happen before Trump’s presidential inauguration. According to some market experts, even such a scenario wouldn’t massively detour BTC.

Glassnode founders clarified that such a sale wouldn’t happen through exchanges but through OTC (over-the-counter) markets. So, it won’t suppress the king coin.

On his part, CryptoQuant founder Ki Young Ju downplayed the panic, reinforcing that the potential $6.5B sell-off could be smoothly absorbed by the market. He said,

“Last year, $379B entered the market based on realized cap—roughly $1B per day. The U.S. govt selling $6.5B could be absorbed in just a week. Do not panic.”

All said, prediction sites like Polymarket and Kalshi priced a +40% chance of a U.S. BTC strategic reserve in 2025.

However, at press time, the odds of that happening in the first 100 days of the new administration declined from 34% to 27%.

@ Newshounds News™

Source:  AMB Crypto

~~~~~~~~~

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We are Heading into Another Round of Inflation

We are Heading into Another Round of Inflation

Palisades Gold Radio:  1-8-2025

In a recent episode of Palisades Gold Radio, host Tom Bodrovics welcomed back financial expert Tom Luongo, the prolific voice behind the “Gold, Goats, and Guns” newsletter and blog, along with his roles at Newsmax Ultimate Wealth Report and Financial Intelligence Report.

The discussion was a deep dive into the complex interplay of political shifts, economic instability, and the potential paths forward, offering a bracing perspective on the global landscape.

Bodrovics and Luongo wasted no time in dissecting the legacy of Donald Trump’s first term, particularly focusing on the long-lasting impact of his judicial appointments. Luongo emphasized the significance of these conservative placements, highlighting the ongoing struggle by Democrats to maintain control in certain jurisdictions. This sets the stage for future legal battles and demonstrates the enduring legacy of presidential administrations.

The conversation then pivoted to Europe, where Luongo painted a concerning picture of economic instability. He pointed to the Euro’s alarming freefall, the volatility in the UK, the widening US-German bond spreads, and the ongoing tensions between the US and Russia as indicators of a continent teetering on the brink. This instability, Luongo argued, has profound implications for the global financial system.

Looking ahead, the conversation turned to potential strategies for navigating these complex economic waters. Luongo explored the possibilities for Trump, should he return to the Oval Office, to weaken the dollar. He suggested options including protectionist tariffs, deregulation, and lowering the cost of capital, all designed to spur domestic growth. He also delved into the volatile nature of markets due to consistent central bank interventions, touching on the potential ramifications of inflation, heightened political tensions, and even anticipated political shifts in Canada.

The discussion didn’t shy away from the crucial issue of oil, with Luongo expressing his belief that oil prices are significantly undervalued, causing ripples across various economic sectors. He further explored the potential of Judy Shelton’s unconventional idea of using gold as collateral on the yield curve, posing it as a potential remedy for the nation’s fiscal challenges. This innovative idea offers a glimpse into the kind of outside-the-box thinking that may be required to address the current financial landscape.

Throughout the conversation, Luongo maintained a solution-oriented approach, urging listeners to shift their focus from the problems themselves towards finding pathways for resolution. He then drew a distinction between the economic policies implemented under the Powell-led Federal Reserve during both the Trump and Harris administrations, highlighting the shifts in approach brought on by different administrations.

The final takeaway from Luongo was a stark one, a prediction that 2025 will bring a “new type of crazy,” suggesting that the economic and political turbulence witnessed in recent years is likely to intensify.

This conversation between Tom Bodrovics and Tom Luongo was not just a report on current events; it was a call to action. It urged listeners to understand the underlying forces shaping the global economy and to prepare for the potential for further instability, highlighting the importance of informed decision-making in the face of an uncertain future.

 Luongo’s analysis, delivered with his characteristic boldness and insight, provided a valuable framework for understanding the complex economic landscape and the challenges that lie ahead. The episode serves as a crucial reminder that awareness, critical thinking, and a focus on solutions are essential tools for navigating the turbulent waters of the modern financial world.

https://youtu.be/btg8Pk6m16g

Coffee with MarkZ and Andy Schectman. 01/09/2025

Coffee with MarkZ and Andy Schectman. 01/09/2025

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 morning everyone. Great day for an RV!

Member: if Iraq is increasing her foreign reserves through correspondent banks, isn't that international trade?????

MZ: Yes and that is why some are getting excited

Member: Rumor is Iraq has to have an international rate by Friday in compliance with WTO

MZ: “Foreign remittances constitute about 94% of Iraq sales” They are showing us in articles how they are handling things internationally. Links or posted in my daily links .

Member: What about HCL and sanctions?

MZ: Rumor is HCL hits the floor of parliament this morning as they go back to work on it in the coming days.  

Member: why don't they just RV instead of all these extra steps jumping through different processes to get by until they RV. Just RV

Member: Tonight would be great. The stock market is shut down tomorrow so there wouldn't be any impact to that if they go live tonight imo

Member: A friend says it could go on the 20th – and it would be a 3 day weekend.

MZ: I was told a 3 day weekend is the easiest…I do have some bond contacts now saying their funds won’t release until the 21st…after the inauguration. We will see

Member: Just thinking out loud here, is it possible to get the REER, on Sat and get paid on the 21st?

MZ: It is absolutely possible. Similar to how Kuwait did theirs….In a nutshell….Kuwait got a REER (Real Effective Exchange rate) and within 10 days we started exchanging.  

MZ: I am getting some very yo-yoish news. There are still a number of banks expecting and being prepped for a rate between now and Saturday. I hope that happens.

MZ: It is confusing though because I have a couple of bond contacts who were informed by their paymasters that they would not distribute funds until after the 21st because they do not want the credit to go to the currency administration. That is what they are hearing.

Member: That makes sense to me…..less than 2 weeks away now.

MZ: But the banking side still believes its earlier….Groups have been silent for the last day or so. I believe its very close and the yo yo news means they are still doing their best to cloud the timing

MZ: What we do know is they are doing the preparations right now to make this happen.

​​Member: Hey Mark, please explain what Mr. C has to do with the Denar revaluation?

MZ: Mr. C has nothing to do with the dinar revaluation. His role is in the re-funding of the US dollar from fiat to asset backed . Those events appear to be tied together and should happen about the same time.  He will be here tomorrow if you want to quiz him on that .

Member: Wife and I went to Chase discussed currency they accept and 2 weeks later getting emailed by their private banker to meet with him.

Member: I talked to my friend who works at fidelity. she said she think the market is going to crash but she's been instructed to tell ppl not to pull out.

Member: we're so ready for this movie to be over it's longest movie I've ever watched

Member: Thanks Mark and Andy…..everyone have a good day and say warm

Andy Schectman from Miles Franklin joins the stream today . Please listen to the replay for his information and opinions.

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=s3TxHf-i_kk

News, Rumors and Opinions Thursday 1-9-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 9 Jan. 2025

Compiled Thurs. 9 Jan. 2025 12:01 am EST by Judy Byington

Judy Note:

Worldwide Banking System Restructuring

Stock Markets Poised for Historic Reset

QFS Takes Control by Gold/asset Backing World Currencies

Worldwide Gesara/Nesara Implementation Underway

Global Currency Reset:

Wed. 8 Jan. 2025 MarkZ: Four banker contacts said they expect something to happen on Fri. 10 Jan. 2025. One banker heard Iraq was supposed to have the new Dinar rate on Sat. 11 Jan. 2025.

Tues. 7 Jan. 2025 Bruce: “By Wed. 8 Jan. 2025 every bank and Redemption Center will be connected on the StarLink Satellite System for the first time. Tier4b (Us, the Internet Group) notifications could come on Thurs. 9 Jan, with appointments beginning on Thurs. 9 Jan. according to sources. The R&R, Social Security increases and NESARA funds were supposed to begin this month.”

Mon. 6 Jan. 2025 TNT Call: Tony said he is 99.9% sure the RV will happen by Thurs. 9 Jan. There is a meeting going on right now discussing when to release the authorization codes. Tony was told that Tuesday or Wednesday the RV will start for us. The RV will be on Forex this Friday 10 Jan. for the general public.

Wed. 8 Jan. 2025: BREAKING: Epic Boom! The National Quantum Initiative, XRP, NESARA GESARA, and QFS 3.0! [MUST WATCH] – amg-news.com – American Media Group

Wed. 1 Jan. 2025: Iraq’s foreign minister was in DC to settle with the new US Treasury using the new Dinar Rate. The US, having been paid in full, lifted the remaining sanctions on the Iraqi Banks. … Frank26 and WalkingStick

Mon. 6 Jan. 2025: The Quantum Financial System (QFS)(allegedly)  activated Worldwide – (meaning the new gold-backed US Treasury Note replaced the fiat Federal Reserve Dollar). US Treasury (allegedly)  sent out schedule for immediate payout of Bonds. “This secure, transparent and decentralized system will replace the old banking structure, ensuring fairness and equality for all.” With the new Iraqi Dinar Rate stabilized, the CBI has (allegedly)  stopped their auctions on the fiat US Dollar: Iraqi Dinar Iraqi Dinar Rate Stability and RV Done Now Iraqi Dinar Latest News Iraqi Dinar Today …Nesara/Gesara on Telegram 5 Dec. 2024

On Tues. 7 Jan. 2025 “The CBI will be back on Tues. 7 Jan. 2025 after the reevaluation happens to manage liquidity for the currency after being on Forex like India and Egypt. They already adjusted the payroll and started paying salaries at the new rate on Sun. 5 Jan. 2025.” Majeedsaid. https://x.com/majeed66224499/status/1875532508734832660?s=57  https://x.com/majeed66224499/status/1875532508734832660?s=46&t=Ich7hg6RGbObSjhen7byaw

Wed. 15 Jan. 2025: **“The Shocking Truth About Gold: Jim Rickards Exposes the Hidden Forces Changing the Market FOREVER!”** | Economics and Politics | Before It’s News

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Possible Timing:

Wed. 15 Jan. 2025 48 hour Wealth Redistribution Blackout Event begins(allegedly) . Starlink’s Q-Grid is now(allegedly)  fully operational, capable of broadcasting emergency information directly to devices globally. This will be vital during the 48-hour blackout starting (allegedly) January 15, 2025, ensuring a seamless flow of critical updates.

Fri. 17 Jan. Banks Zero out personal debt: Banks to begin zeroing out mortgage, credit cards and other forms of personal debt(allegedly)  starting Fri. 17 Jan. 2025 with the national debt already taken care of by (allegedly) switching to the QFS, all other debt would begin to be fully paid off by the end of Jan 2025. …Gesara DurPreusse on Twitter Sun. 12 Jan. 2025.

On Sat. 25 Jan. 2025 the first phase of the Worldwide Wealth Redistribution to the general public will officially(allegedly)  commence, directly benefiting millions and marking the start of real community rebuilding efforts.

End of March 2025: The outdated US Fiat Dollar will (allegedly) cease to exist, replaced by a new standard rooted in transparency and equity.

Read full post here:  https://dinarchronicles.com/2025/01/09/restored-republic-via-a-gcr-update-as-of-january-9-2025/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
TV talked about how we have now gone from the dollar auction to now transfers in our banks.  No more auctions.  These transfers are linked to international banks...No more being done by auctions of the CBI but by this new system in our banks.  FRANK: This is fantastic because these are the preparations.  FIREFLY:  We are linked to the world!

Jeff   What they're doing is selling US dollars to pay for and fund imports coming into Iraq...What they've done with this new transfer system is they've made backend changes that are not visual...What they've done...is transition so that they can allow their banks to do these international transfers...There's only so much they can do with banking reforms at this time until the rate physically changes.  Again, what they're doing is they're positioning the banks to...do foreign transfers with the US dollars...now instead of that money being sent directly from the central bank it's being routed and sent from the local banks within Iraq.  That prepares Iraq to be ready towards going international...

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

What Does Afghanistan Know That Iraq Doesn't; Afghan Currency Top Three Currencies in World!

Edu Matrix:  1-8-2025

What Does Afghanistan Know That Iraq Doesn't - Afghan Currency Top Three Currencies in World! IQD Exchange Rate. Discover the surprising story behind the Afghani currency's rise to stability in our latest video!

Despite facing significant Western sanctions, including frozen assets, the Afghani has emerged as one of the top three stable currencies globally. But how did this happen, especially when other nations like Vietnam and Iraq struggled?

We delve into key factors such as strict currency controls, humanitarian aid inflows, and a managed money supply that have all contributed to this remarkable achievement. With insights from credible sources like Bloomberg, we analyze Afghanistan's unique economic landscape amidst global currency fluctuations. Join us as we explore this intriguing topic!

https://www.youtube.com/watch?v=cVD5t4uVAnY

Seeds of Wisdom RV and Economic Updates Thursday Morning 1-9-25

Good Morning Dinar Recaps,

RIPPLE’S RLUSD GEARS UP FOR EXCHANGE LISTINGS – WHAT IT MEANS FOR CRYPTO’S FUTURE

Ripple RLUSD stablecoin enters new markets through major cryptocurrency exchange platforms. Ripple President Monica Long confirms “imminent” expansion plans. The move aims to cut down crypto market volatility. During her Bloomberg interview, Long said, “RLUSD will become a key component of Ripple’s payment infrastructure.”

Ripple’s RLUSD Stablecoin Could Ease Crypto Volatility and Adoption Challenges

Current Trading Activity Shows Strong Demand

RLUSD started in December 2024, and it keeps a fixed 1:1 rate with USD. The Bullish cryptocurrency exchange handles 76% of all RLUSD trades. These happen mainly in RLUSD/USDC and XRP/RLUSD pairs. Furthermore, the Sologenic exchange adds $3.4 million daily XRP/RLUSD volume, making up 3.56% of all RLUSD trading. Thus, the Ripple RLUSD stablecoin shows high trading activity.

Payment Infrastructure Growth Powers RLUSD Adoption

Last year saw Ripple’s payment business double in size. This growth puts RLUSD stablecoin at the heart of their system. “Our payment business saw remarkable growth throughout 2024,” Long stated. She noted how stablecoin adoption keeps rising. RLUSD helps users move money in and out during high crypto market volatility and facilitates the ongoing use of Ripple RLUSD stablecoin.

Chainlink Partnership Reinforces Security Measures

Ripple teamed up with Chainlink to improve RLUSD price tracking. This works on both Ethereum and XRP Ledger. Their system stops price tricks and keeps data safe. Many independent operators check the data. This matters as more cryptocurrency exchange sites add RLUSD, underlining the growing role of Ripple RLUSD stablecoin in maintaining price stability and security.

XRP ETF Prospects Boost Market Confidence

Long sees good chances for XRP ETF approval after Bitcoin and Ethereum. “XRP could be next in line for ETF approval,” she said. She points to changing U.S. politics. Big names like WisdomTree and Bitwise want SEC approval. This shows growing trust in Ripple’s work and supports the Ripple RLUSD stablecoin’s robust market confidence.

Future Outlook for RLUSD

RLUSD stablecoin fights crypto market swings while pushing stablecoin adoption forward. Long stated that “RLUSD’s expansion across major exchanges represents a significant milestone in our mission to transform digital payments.” Better security through Chainlink and more cryptocurrency exchange options show Ripple’s long-term plans regarding RLUSD.

@ Newshounds News™

Source:  Watcher Guru

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HONG KONG'S BOLD STEP: HKMA’S NEW INITIATIVE TO BOOST DLT ADOPTION IN BANKING

Hong Kong, considered as one of the thriving financial hubs of Asia, is know for its welcoming attitude towards innovative technologies, especially those capable of strengthening its dominance in the financial sector.

The Hong Kong Monetary Authority, which is responsible for the upgrading of the nation-state’s financial framework, has launched a new initiative to help banks adopt distributed ledger technology safely and efficiently. What does this bold move actually signify? Does it open a new era of innovation in the banking sector in Hong Kong? Let’s examine!

What is HKMA’s Supervisory Incubator for DLT?

Helping banks to integrate distributed leader technology is the prime purpose of the HKMA’s initiative. The prime merit is that banks are offered an opportunity to safely and efficiently adopt DLT. This is very important to ensure that banks get maximum benefit from any integration with DLT.

Why is HKMA’s Initiative Important?

Primarily, there are three reasons why this initiative is pertinent.

▪️Firstly. It supports innovation in the banking sector.
▪️Secondly, it promotes the usage of tokenisaed deposits and smart contracts.
▪️Thirdly, it offers a strong framework for easy adoption of DLT.

Potential Benefits of DLT for Banking

▪️The prime benefit of DLT integration in the banking sector is that it enables real-time updation and autonomous bookkeeping.
▪️Additionally, it allows the creation of a simplified reconciliation framework.
▪️It facilitates the development of tailored financial products employing smart contracts.  

Recent Crypto Developments in Hong Kong

Recently, a proposal was presented by Hong Kong Legislative Council member Wu Jiexhuang to include Bitcoin in the national reserve of the nation-state. The lawmaker pointed out that the country could leverage China’s “one country, two systems” policy to impliement the proposal.

In conclusion, Hong Kong’s DLT initiative by HKMA is a significant step towards a more innovative and efficient banking future. It also reflects the nation-state’s growing focus on embracing blockchain technology.

@ Newshounds News™

Source:  Coinpedia

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XRP ETF: RIPPLE PREZ SAYS IT COULD SPARK THE NEXT BIG U.S. CRYPTO BOOM

In a recent Bloomberg interview Ripple President Monica Long sent shockwaves through the crypto community when she said an XRP ETF could be the next big thing in the US.

With the US regulatory environment looking good and a crypto friendly administration potentially on the horizon the approval process for an XRP ETF could speed up.

Long said after Bitcoin and Ether XRP will be the next spot ETF in the US “I think we will see more spot ETFs this year out of the US and I think XRP will be next” Crypto investors are excited as XRP continues to gain momentum with adoption and clarity.

What Makes XRP ETF a Potential Game-Changer?

Bitcoin and Ether ETFs were a game changer for the crypto market, giving traditional investors a regulated and secure way to get into digital assets. If an XRP ETF was approved it would open up institutional investment in XRP on a large scale and get XRP into the mainstream markets. An XRP ETF would be a big deal for Ripple and its growing community of investors and partners.

Long also mentioned the changing political landscape and that the new administration could speed up approvals of crypto related filings. This would give investors more confidence and grow the space faster.

Ripple’s Expanding Role in Crypto and Finance
XRP ETFs are still in the filing process but Ripple is already active in other parts of the crypto space. The company just launched its RLUSD stablecoin which is now regulated by the New York Department of Financial Services (NYDFS). With RLUSD being fully compliant with financial regulations it will be a key part of Ripple’s future of money and payments.

Ripple is also making RLUSD more useful by integrating it with the Chainlink standard so it can interact seamlessly with DeFi protocols. This opens up more use cases for RLUSD and makes it an asset for financial institutions and blockchain projects.

@ Newshounds News™

Source:  FX Leaders

~~~~~~~~~

IMF ASKED KENYA TO ESTABLISH CLEAR CRYPTO REGULATIONS: WHAT’S NEXT?

▪️IMF urges Kenya to update outdated crypto regulations for consumer protection and financial stability.

▪️Kenya advised to align crypto laws with global standards to address scams and AML concerns.

▪️IMF suggests defining crypto assets in financial laws to avoid regulatory confusion.

The International Monetary Fund (IMF) has recommended that Kenya create a clear regulatory framework for its cryptocurrency market. This call comes after rising concerns about consumer protection, anti-money laundering (AML), and combating terrorism financing (CFT). The IMF’s advice highlights the growing need for Kenya to update its outdated laws to evolve its crypto sector.

@ Newshounds News™

Read more:  Coinpedia

~~~~~~~~~

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Thank you Dinar Recaps

6 Financial Warnings To Prepare For 2025

I’m a Wealth Strategist: 6 Financial Warnings To Prepare For 2025

Jordan Rosenfeld   GOBankingRates   Wed, January 8, 2025

Most years, people’s finances remain relatively the same from year to year, barring the job changes, emergencies or retirement. However, 2025 is a unique year that finds people with a lot of financial questions as costs of living remain high and a new presidential administration is coming into the White House.

Check Out: 4 Low-Risk Ways To Build Your Savings in 2025

Dr. Constance Craig-Mason, a financial planner, national Social Security advisor and CEO of Concierge Financial Advisory, offered some “financial warnings” for this new year, taking into account “financial behaviors and market realities.”

Craig-Mason said, “Preparing for [2025] requires vigilance and intentionality.” Here are the top warnings she’s sharing with her clients to help them navigate 2025 with confidence.

Don’t Let Volatility Lead To Financial Sabotage

With economic uncertainty persisting, Craig-Mason is warning clients against overreacting to market swings. Emotional investing often results in buying high and selling low, eroding long-term gains, she said.

“My advice? Stay grounded in your strategy, focus on diversification and avoid chasing trends that promise quick returns. Wealth-building is a marathon, not a sprint.

Higher Rates Are a Double-Edged Sword

While interest rates are creating opportunities for savers, they’re also squeezing borrowers, Craig-Mason shared. “I’m warning clients to avoid stretching themselves thin with high-interest debt like credit cards.”

Refinancing may not be favorable until rates stabilize, either, she said, so she recommended aggressive debt repayment and locking in savings rates before they drop.

TO READ MORE:  https://www.yahoo.com/finance/news/m-wealth-strategist-6-financial-200013854.html

“Tidbits From TNT” Thursday Morning 1-9-2025

TNT:

Tishwash:  Iraq, Jordan forge stronger ties to boost regional stability and economic growth

 Former Jordanian government spokesperson Mohannad Mubaidin affirmed, on Thursday, the ongoing collaboration between Iraq and Jordan to maintain security and stability in the region, particularly in light of last year’s rapid developments.

"King Abdullah II is committed to ensuring that Jordan’s relationship with Iraq is both impactful and geared towards achieving stability and security in the Middle East,” Mubaidin said in an exclusive statement to Shafaq News, adding that "several meetings have been held between the two sides, focusing on key areas, including bolstering security systems and combating terrorism."

High-Level Visits Cement Relations

Iraqi Prime Minister Mohammed Shia Al-Sudani visited Jordan on Dec. 11, 2024, meeting with King Abdullah II to discuss Arab and regional strategies amid ongoing developments in the region, particularly in Syria. This visit underscored Iraq’s strong interest in its ties with Jordan.

On Dec. 15, 2024, Iraqi Parliament Speaker Mahmoud Al-Mashhadani traveled to Amman, where he met King Abdullah II, Jordanian Parliament Speaker Ahmed Safadi, and Senate President Faisal Al-Fayez. According to a statement from Al-Mashhadani’s office, his meeting with Jordanian Prime Minister Jaafar Hassan focused on strengthening bilateral cooperation across political, economic, and security domains, aiming to support stability and development in both nations.

Economic and Trade Ties Flourish

Jordanian officials have emphasized the strategic importance of their partnership with Iraq. Mubaidin reiterated, "Jordan recognizes the depth and significance of its relationship with Iraq and consistently advocates for joint efforts to ensure Iraq’s security and stability while fostering a comprehensive partnership that benefits both nations."

Economic ties between the two countries also remain robust. On Tuesday, the Jordanian Chamber of Commerce announced that Iraq ranked as Jordan’s largest importer in 2024, with total imports valued at 691 million Jordanian dinars.

The oil trade is another vital pillar of cooperation. According to statistics released by Iraq’s State Oil Marketing Organization (SOMO) on Dec. 28, 2024, Iraqi oil exports to Jordan rose by 7.45% over the first 11 months of 2024, reaching 3.56 million barrels compared to 3.31 million barrels during the same period in 2023. SOMO further reported that Jordan imported approximately 3.8 million barrels of Iraqi oil last year under a renewed agreement signed in mid-2024.

Expanded Energy Cooperation

In August 2024, Iraq and Jordan agreed to increase monthly oil exports from 10,000 barrels to 15,000 barrels, raising the annual total from 300,000 barrels to 450,000 barrels. This expansion now covers approximately 10% of Jordan’s crude oil needs, reflecting the strengthening economic ties between the two nations.

Through mutual commitments to security, economic development, and energy collaboration, Iraq and Jordan continue to set an example of regional partnership, working together to promote stability and prosperity for their citizens. link

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Tishwash:  Head of Parliamentary Finance to World Bank delegation: We support any loans that bring benefit

On Wednesday, January 8, 2025, the head of the Parliamentary Finance Committee, Atwan Al-Atwani, met with a delegation from the World Bank headed by Jean-Christophe Carré, Regional Director for the Middle East, to discuss supporting the railway rehabilitation project within the Development Road Project, stressing support for borrowing.

 We support any loans that are beneficial.

According to a statement by Al-Atwani's office, seen by "Ultra Iraq", "the meeting reviewed the economic and regional vision of the development road project and its strategic importance in stimulating investment movement, maximizing non-oil revenues, and providing job opportunities. It also discussed the possibility of the private sector contributing to its implementation."

The meeting also "discussed the multi-stage support provided by the World Bank for the Development Road Project, including modernizing and rehabilitating the current railway network and linking it from southern Iraq through the north and reaching Turkey."

The statement added: "Al-Atwani reiterated his emphasis that the infrastructure of the development road should be in the hands of the government so that this important project that links Iraq to the countries of the world is not subject to influences." The head of the parliamentary committee pointed out that "our vision is that the development road project should not be a mere transit point, but rather we seek to make it a gateway to activate various economic and commercial activities and develop the infrastructure," calling on the World Bank delegation to present new visions and ideas regarding achieving the optimal investment for this huge project that is hoped to make Iraq an economic corridor linking Asia to Europe."

Al-Atwani stressed the "necessity of expediting the submission of the feasibility study related to the railway development plan within the development road project, and contributing to mobilizing international expertise and attracting the private sector to invest in it in a way that achieves the country's interest."

He added: "We look forward to holding joint workshops and extensive meetings with the World Bank, to provide a full briefing on the project details and discuss its details in a way that secures broad parliamentary support for this borrowing," indicating that "the Finance Committee supports any loans that are economically feasible and bring great benefit to the Iraqi economy, especially since investment in the railway sector is a successful trend and achieves a large financial return." 

For his part, according to the statement, "the World Bank delegation appreciated the valuable comments made by Al-Atwani within the framework of the rapid transition from the planning and vision stage to the implementation stage, stressing the World Bank team's readiness to submit the feasibility study, project path and details by next February."  link

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

Liquidity ‘shortage’ dismissed by economic expert Dagher, calls for focus on non-oil revenues

Economic expert Mahmoud Dagher rejected the notion of a liquidity crisis in Iraq due to sufficient financial revenues and stable oil prices exceeding $70 per barrel. In an interview with Al-Rasheed TV, Dagher emphasized that Iraq’s financial situation remains stable and capable of covering salaries, even in the event of a drop in oil prices below the budgeted threshold.

He further noted that in scenarios of declining oil revenues, the government has the option to reduce or halt investment expenditures to secure operational budget requirements, a strategy previously adopted during former Prime Minister Haider Al-Abadi’s tenure.

He concluded by urging a focus on non-oil revenues to diversify Iraq’s financial resources, cautioning against populist approaches to economic policy and calling for pragmatic decision-making to address the country’s structural financial challenges.

Excerpts from Mahmoud Dagher’s interview:

We have three types of salaries in the state: employees, retirees under the Pension Authority and the Social Welfare Network, which is covered by the Ministry of Finance through its dollar revenues, converted into dinars via the Central Bank. In case of a liquidity shortage, borrowing becomes the alternative.

There is no liquidity shortage, but rather poor management and coordination. Revenues are sufficient, and oil prices remain above $70 per barrel. Therefore, salaries cannot be stopped. However, there is a coordination issue between the Ministry of Finance and the Central Bank, as approval takes 30–40 days to be reinforced, and we need some accounting adjustments to resolve the matter.

If oil prices drop, the investment budget can be reduced or halted to ensure the operational budget is secured. Previous governments adopted this approach several times, particularly in 2015 and subsequent years.

I support an annual budget because it accounts for all variables. The three-year budget did not achieve the financial stability it was supposed to, as it remains merely a set of future plans. Moreover, we have not benefited from the annual budget system in past years due to delays in its approval.

A weak economy with limited options does not allow for ambitious moves. It requires a wise decision-maker. So far, the Iraqi government has been prudent in its economic decisions. However, Mr. Ammar Hakim’s warnings about the Syrian currency scenario are directed at political leaders, cautioning them against the risk of U.S. sanctions.

In politics, we can talk about rising growth rates, but in economics, it’s a different story. On the ground, Iraq still lags in infrastructure development. We must increase non-oil revenues, and if some are displeased, so be it—because we must move away from populism. link

Mot:  So how Cold is Cold 

Mot:  ... So There 

MilitiaMan & Crew Iraq Dinar News-USA-Regional Security-Iraq Mediator-Major Player in Regional Stability

MilitiaMan & Crew Iraq Dinar News-USA-Regional Security-Iraq Mediator-Major Player in Regional Stability

1-8-2025

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=8s8MYF7Kd_g

Is It Better to Be Rich or Wealthy

Is It Better to Be Rich or Wealthy

Rebecca Lake   Thu, August 24, 2023

Being rich and being wealthy are often seen as being the same thing. After all, people who are rich or wealthy tend to have more assets and greater financial freedom than the typical person. In reality, there are some major differences that define what it means to be rich vs. wealthy. If your financial goals include rising to the ranks of the rich or growing wealth, it’s important to know how they compare.

A financial advisor can help you create a financial plan for your wealth management needs and goals.

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

What Does It Mean to Be Rich?

Income is often used as a standard when measuring what it means to be a rich person. So what income is considered rich?

If you’re looking at the top 1% of earners, then you’d need an annual income of $540,009 to be rich, according to the Internal Revenue Service (IRS). The Economic Policy Institute (EPI) defines the top 1% as people who earn $819,324 or more per year.

What about the top 5% or the top 20%? If you think of the top 5% as being rich, then you’d need to make $335,891 per year according to the EPI. If you’d like to crack the top 20%, you’d need to earn $130,545 per year, according to a SmartAsset analysis of income distributions in the top 100 largest U.S. cities.

It’s important to keep in mind that income alone does not necessarily determine whether you’re rich or not. Someone who makes a higher income but spends instead of saving or has significant amounts of debt, for example, may live a rich lifestyle but be broke on paper.

What Does It Mean to Be Wealthy?

Wealth is often defined in terms of net worth. Net worth is a measurement of the difference between your assets and liabilities.

Generally, a liquid net worth of $1 million would make you a high net worth (HNW) individual. To reach very high net worth status, you’d need a net worth of $5 million to $10 million. Individuals with a net worth of $30 million or more might qualify as ultra-high net worth.

Those numbers reflect how the financial industry typically views wealth. The average American views a net worth of $774,000 as enough to be financially comfortable, with a net worth of $2.2 million required to be wealthy. That’s according to Schwab’s 2022 Modern Wealth Survey.

Differences Between Rich vs. Wealthy

TO READ MORE:  https://finance.yahoo.com/news/key-differences-between-rich-wealthy-140035053.html