“Coffee With MarkZ” Monday Morning Chat 1-13-2025

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: Good Monday morning MarkZ, mods and RV’ers

Member: And another week begins!!!!!!!!!!!!!!!!!!!

Member: MarkZ!! Brent Crude 80.47 Texas time 8:43!! Let's RV!! Isn't this what we are waiting on??

Member: Could this be our week?

MZ: That’s a great question. I know a number of bond contacts are suddenly convinced that this is our week. They had been afraid it would be after the inauguration….but are now hearing they could get their 1% before…..then 9% a week or two after. Then they set up traunches (payments) for the balance.

Member: I wonder if when bonds get their 1% if we get our notifications?

Member: Will we have full access to all our funds when we exchange Mark?

MZ: Yes…I am told we will have full access on currency exchanges

MZ: Groups are pretty quiet so far today. I do know that a couple bankers have meetings this afternoon. These are members of “Wealth Management”  

Member: MM is pretty excited

MZ: There has been fantastic news. Now we just need that to translate into dollars for us all.

Member: Rumors out there: HCL got approved in the parliament with the Green light to start And tonight they are updating the payment system in Iraq from 12:00 - 2:00 am

Member: I would be willing to bet that the HCL is done, we are just waiting for an event. Will be so glad when this is all over.

Member: Disappointed about the lack of quorum.

MZ: Yes we were told the Iraqi parliament did not get a quorum to do the second reading of HCL. Yet. But they do expect it tomorrow. It could be misinformation…..but that is not what I hear from the Iraqi Press right now.

Member: "Breaking the quorum" .. A demand to publish the names of those absent from the Iraqi parliament session”

Member: MarkZ, I find it curious that Tonight, Iraq is shutting down for 2 hrs, their electronic payment system!

Member: Zoom News announced that tonight at Midnight Iraq time, the payment system will shut down for updates.

MZ: They are updating their electronic systems specifically for borders and customs …this is a scheduled update. They are using the AYUSCUDA system for all their borders.

Member: "2025 budget is on the verge of legislation, and delaying the schedules will not stop the decision" - Jamal Kojer

Member: Zoom news Baghdad: The Iraqi Parliament has completed the second reading of the Federal Budget Law amendment which seeks to break the oil export deadlock with the Kurdistan Region halted since March of 2023

MZ: they are posting opposite/opposing  articles…they do it on purpose to cloud the timing…...so thanks for that one. .

Member: Iraq loves smoke and mirrors.

Member: where there is smoke there has to be fire?

MZ: “Will Trump strengthen the US presence in Iraq instead of withdrawing?” The US needs to project strength in the region. Their best bet is to work closely with Iraq , who is becoming a leader in the region. I believe he will be working with the Iraqi government- not against them.

Member: Informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying message to Prime Minister Mohammed Shia al-Sudani.

Member: Trump said Iraq talks differently privately then they do publically.

MZ: Absolutely. It is a mind set difference all throughout the Arab world.

Member: My Wells Fargo finally confirmed the RV.

MZ: They all know its coming…..They know we are having a complete change in the system and we are going asset backed…They know gold is an important piece. Im not sure if they will use the same terminology you and I use or will they call it something different?

Member: They may not call it a QFS…..but we know what the new system does….safer and faster and much better.

Member: What is your gut feeling Mark?

MZ: My gut is screaming sometime between now and Jan 22. Just a guess……

Member: If the RV doesn't happen before February this year I will be really surprised!

Member: Why does the finish line keep moving further away every week?

Member: Maybe the finish line isn’t moving…..maybe we are waiting for the starting line to begin next Monday on Jan 20th?

Member:  I have my currencies & receipts in a fireproof bag, ready to go, LOL

Member: Hope everyone has a great day today!

Member: Thanks so much Mods Mark and friends....Stay positive as the best is yet to come.

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

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

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!

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Youtube:     https://www.youtube.com/watch?v=NdjLuSnq1zk

Iraq Economic News and Points to Ponder Monday AM 1-13-25

During 2024.. The Iraqi Central Bank Imposes Fines Worth 279 Billion Dinars On Banks And Money Changers
 
Economy    2025-01-11 23:52  Shafaq News/ The Central Bank of Iraq announced, on Sunday, the imposition of fines on banks and non-banking institutions (exchange companies) worth 279 billion Iraqi dinars, during the year 2024.
 
A table of the bank, viewed by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past year amounted to 279 billion and 144 million and 977 thousand and 628 dinars, indicating that “the fines also included 238 administrative penalties for these banks and non-banking institutions, distributed between warning and warning.” And the grace period.”

The table showed that “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines amounted to 98 billion, 277 million, 722 thousand and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of September witnessed the lowest fines, as they amounted to 2 billion, 331 million, 465 thousand and 48 dinars in penalties.” Administrative penalties amounted to 13.”
 
The table did not show the names of the banks on which fines were imposed, nor the nature of the administrative penalties.
 
The Association of Investors in the Iraqi Stock Exchange criticized the Central Bank of Iraq's increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.  
  
https://shafaq.com/ar/اقتصـاد/خلال-2024-المركزي-العراقي-يفرض-غرامات-بقيمة-279-مليار-دينار-على-مصارف-وصيرفات 

Central Bank Renews Directive To Spread And Expand Financial Services And Atms

Banks  Economy News – Baghdad   The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/." 79 views  Added 2025/01/12 - https://economy-news.net/content.php?id=51858

Tasks of the Directorate of Supervision of Non-Banking Financial Institutions
 
    1- An introductory overview of the directorate:
    The Directorate of Supervision of Non-Banking Financial Institutions at the Central Bank of Iraq is responsible for licensing, supervision and control of non-banking financial institutions, with the aim of protecting the financial system from potential risks and enhancing confidence in the non-banking financial sector.
 
It also seeks to ensure the provision of safe and effective financial services to citizens, in addition to ensuring that these institutions comply with laws and instructions in accordance with global standards in the field of compliance, which contributes to enhancing financial stability.
    
    2- The directorate’s powers and tasks:
    - Licensing non-banking financial institutions.
 
        All license applications are carefully examined in accordance with the principle of equality between all applications, in order to ensure the availability of conditions that allow it to compete in the Iraqi market and keep pace with rapid developments in the global and local financial sectors, while achieving the highest levels of efficiency and transparency.
 
    - Supervision and control of non-banking financial institutions.
 
        This directorate acts as a supervisory authority, adopting a flexible and contemporary supervisory approach that enables it to carry out supervision and monitoring to ensure success in the Iraqi financial sector.
    
    3- Laws, regulations and instructions.
 
        Central Bank of Iraq Law (Link to PDF).
        Anti-Money Laundering and Terrorist Financing Law No. 3 of 2015 (Link to PDF).
        Electronic Payment Services System No. 2 of 2024 (Link to PDF).
        Work regulations for agents of foreign remittance service providers for the year 2021 (Link to PDF).
        Operating controls for exchange companies (Link to PDF).
        Regulations for the work of financing companies (Link to PDF).
    
    4- Types of non-banking financial institutions.
    A- Types of non-banking financial institutions
 
        Electronic payment companies (redirect link to the electronic payment companies page).
        Exchange companies (redirect link to the exchange companies page).
        Finance companies (redirect link to the finance companies page).

    B- Licensing requirements and controls for each type.
 
        Electronic payment companies (Link to Page).
        Exchange companies (Link to page).
        Finance companies (Link to page).
    
    5- Control and inspection procedures.
 
        Oversight methodologies and inspection mechanisms (Link to PDF).
        Periodic reports required from institutions.
        Requirements for appointments to leadership positions (Link to PDF).
    
    6- Reports and publications.
    7- Advertisements
    8- Updates related to laws and instructions.
    9- Workshops and training courses.
    10- Communication channels.
    
    11- The official mail of the directorate.
 
        The Directorate’s email ( nbfi.supervision@cbi.iq ).
        The official email of the Exchange Companies Control Department (Company.sup@cbi.iq) .
        The official mail of the Finance Companies Control Department.
        The official email of the Electronic Payment Service Providers Monitoring Department (electronicpay.bs@cbi.iq)
  
https://cbi.iq/news/view/2759 

 National Data Center, Customs And Border Ports Authority Announce Launch Of Customs Automation System

Sunday 12 January 2025 | Economic Number of readings: 198  Baghdad / NINA / The National Data Center at the General Secretariat of the Council of Ministers announced the launch of the "ASYCUDA" system in cooperation with the General Authority of Customs and the Border Ports Authority, in ten land, sea and air border ports, after conducting a comprehensive assessment of the infrastructure in 14 border ports, within the framework of supporting the government's program for digital transformation and automation of customs operations in Iraq.

Director of the National Data Center Department, Ammar Mazhar Al-Tamimi, stressed that the success of operating the system reflects the exceptional efforts made to develop the infrastructure supporting customs automation, pointing to the government's commitment to the success of this vital project that contributes to enhancing the efficiency of customs operations and achieving transparency.

Al-Tamimi pointed out, according to a statement by the Secretariat of the Council of Ministers, that the efforts included providing the General Authority of Customs with modern technical equipment, in addition to establishing a secure network system based on advanced servers and firewalls, with the allocation of a separate environment to ensure data security and link the system to the secure government network. "

In a related context, the General Authority of Customs in the Ministry of Finance and the Border Ports Authority, with the support of the National Data Center, continue to work on expanding the scope of the system to include additional ports, including Basra International Airport, Khor Al-Zubair Port, and Abu Flus Port, which are scheduled to be operational in the coming months."

The customs automation project aims to raise the efficiency of customs performance and facilitate the movement of goods in line with international standards, in a qualitative step to support the national economy and improve the business environment in Iraq. " https://ninanews.com/Website/News/Details?key=1179572

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

Seeds of Wisdom RV and Economic Updates Monday Morning 1-13-25

Good Morning Dinar Recaps,

SEN. TED CRUZ: FIGHTING REGULATORY OVERREACH, CHAMPIONING BITCOIN

In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation and why Texas is becoming a top crypto hub.

In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader crypto industry and the future of his home state of Texas.

As a self-proclaimed Bitcoin miner, Cruz emphasized the potential of BTC to empower small businesses, drive innovation, and serve as a hedge against inflation.

Despite his optimism for the future of BTC and crypto mining, Cruz warned against hasty government regulations, stressing the need for Congress to better understand before overreaching with regulatory actions.

“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he said.

Bitcoin’s impact on small businesses

Cruz said he is “bullish on Bitcoin,” praising its capacity to provide privacy, autonomy and independence from government control.

“Most congressional Democrats are deeply skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, autonomy and independence from the government.”

With the incoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrency like never before.”

“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I introduced legislation to prohibit the development of a central bank digital currency and to clarify that the Federal Reserve has no authority to do so unilaterally.”

Texas as an oasis for Bitcoin

Cruz described Texas as “an oasis for Bitcoin” due to its abundant, low-cost energy and business-friendly environment. He said the state’s “frontier mentality” and low taxes have made it a magnet for Bitcoin mining firms and crypto enthusiasts.

“Cryptocurrency mining requires dependable, low-cost energy, and if Texas is known for anything, it is abundant low-cost energy,” Cruz said. “I am thrilled to see so many jobs coming to Texas, and we need to make sure that trend continues and accelerates,” he added.

Recent developments, such as Hive Digital relocating its headquarters to Texas and Marathon Digital acquiring a wind farm in the state, underscore Cruz’s sentiment.

Cruz told Cointelegraph that, to his knowledge, he is the only member of the Senate who is a BTC miner and has “three miners hashing in West Texas right now.”

“I have a weekly buy order to take advantage of dollar-cost averaging,” he said. “I’ve been investing for several years, over which time Bitcoin’s value has roughly tripled.”

@ Newshounds News™

Source:  CoinTelegraph

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INCOMING TREASURY TO SELL BITCOIN ETF HOLDINGS

According to a recent report by Bloomberg, hedge fund manager Scott Bessent, who was recently nominated to be the new Treasury secretary, will divest his Bitcoin ETF holdings. The billionaire American investor owns no more than $500,000 worth of shares of BlackRock's iShares Bitcoin Trust ETF (IBIT). Overall, Bessent has listed more than $500 billion worth of assets.

@ Newshounds News™

Read more:  U Today

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RIPPLE CTO REVEALS COMPANY'S MEDIA STRATEGY ON XRP

Ripple CTO David Schwartz breaks silence on crypto company's approach to misinformation regarding XRP

Ripple's CTO David Schwartz recently shared some thoughts on the company's media strategy during its three-year legal battle with the Securities and Exchange Commission. 

The case ended with Ripple getting a partial victory, after they argued that XRP, the cryptocurrency associated with Ripple, should not be classed as a security. The court concluded that XRP is not a security, but the crypto company was fined for selling coins to institutional clients. 

This clarified the asset's status, which has big implications for both the San Francisco-based company and the wider crypto market.

Schwartz talked about the challenges Ripple faced in dealing with false information about XRP during the lawsuit. He admitted that the company couldn't do much to directly challenge the false stories about the cryptocurrency because of legal and strategic limits.

Instead, they relied on their community, also known as the "XRP Army," to spread the right message. But this meant that misinformation and speculation spread, which was not ideal.

Schwartz said that Ripple tried not to amplify unverified claims or people spreading misinformation on purpose, but he admitted that this approach might have had the opposite effect. He said that if they dealt with inaccuracies, they might accidentally give them more credibility or visibility, which would make it harder for Ripple to respond to the media.

Schwartz also talked about how Ripple tries to tell the difference between helpful contributions and baseless claims in the XRP community. While the company recognized the importance of fostering a positive narrative, it maintained caution in engaging with content or individuals that might harm its reputation or mislead the public. #XRP #XRP News #Ripple News

@ Newshounds News™

Source:  U Today

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MASTERCARD INTRODUCES CRYPTO CREDENTIAL FOR SEAMLESS P2P TRANSACTIONS IN UAE, KAZAKHSTAN

▪️Mastercard has launched Crypto Credential in the UAE and Kazakhstan to simplify crypto transactions.

▪️The solution ensures secure transactions by verifying both the sender’s and recipient’s wallet compatibility.

Mastercard has launched its Crypto Credential solution, which will make it easier for people in the UAE and Kazakhstan to use cryptocurrencies. This launch enables the users to send and receive digital assets through easily memorable names instead of complicated blockchain addresses, making it easier to incorporate crypto.

Crypto Credential is one of Mastercard’s efforts to strengthen the security of digital asset transactions. Through cooperation with regulated exchanges like CoinMENA in the UAE, Fuze in Dubai, and ATAIX Eurasia in Kazakhstan, the solution is designed to enable the verification of transactions and ensure that both transacting parties have met certain verification standards. It also checks that the recipient’s wallet can accept the transferred asset.

It ensures that crypto users have a certain degree of confidence in the service, which checks the transaction details, including Travel Rule data and metadata sharing. Mastercard believes simplicity is key in crypto transactions to help boost trust among consumers and businesses.

“We are excited to see Mastercard embracing blockchain technology,” said Talal Tabba, CEO of CoinMENA. “Innovations like Crypto Credential are key to making digital assets more user-friendly, especially for those transitioning from traditional finance.”

How Mastercard Crypto Credential Works

The adoption of Crypto Credentials begins with the user’s validation in accordance with the Mastercard guidelines. After successful validation, users are given a unique alias that can be utilized on any supported exchange for transferring and receiving cryptocurrencies.

When a transfer is initiated, the system verifies if the recipient’s alias is active and if the wallet of the recipient supports the given digital asset. If not, the sender is informed, and the transaction is stopped to avoid the loss of the funds. This mechanism ensures security and ease of use since users are shielded from mistakes and deceit.

Initially, the pilot phase will cover only peer-to-peer transactions. Nevertheless, Mastercard plans to use Crypto Credentials in several services in the future. Some of the possible applications are Non-Fungible Tokens (NFTs), ticketing, and other new payment applications based on the market’s needs and legal frameworks.

A Broader Expansion Across Regions

Mastercard Crypto Credential is not only available in the UAE and Kazakhstan. It is part of a greater implementation strategy for the company’s commercialization plans in markets across North America, Europe, Latin America, and Asia-Pacific. This expansion enables the user to transfer digital assets not only within these regions but also across blockchains and types of assets.

The new initiative has garnered support from industry leaders. Arutyun Poghosyan, CEO of ATAIX Eurasia, expressed enthusiasm about the collaboration, stating, “We are incredibly excited to implement Mastercard’s Crypto Credential technology. This partnership strengthens our position in the crypto space.”

In addition to the Crypto Credential, Mastercard has also collaborated with JPMorgan to create innovative B2B cross-border payment flows. CNF has earlier covered that the partnership links Mastercard’s MTN and JPMorgan’s Kinexys Digital Payments and is beneficial for businesses, according to CNF. 

This partnership leverages a single API to streamline foreign transactions, and minimize the time that is usually lost in crossing borders and other barriers that have hitherto slowed down global trade.

@ Newshounds News™

Source:  Crypto News Flash

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XRP BULLS IN ACTION? KOREAN EXCHANGE SEES STUNNING OUTFLOWS

Popular cryptocurrency XRP eyes mysterious $60 million whale activity on Korea's biggest exchange

A big XRP transfer from Upbit, South Korea's biggest crypto exchange, is causing some buzz about what it might mean for the popular cryptocurrency. Whale Alert tracked the withdrawal of 24 million XRP, worth about $60.63 million, from Upbit's wallet "rDxJNb" to an address that had not been recognized before, "r9n1JL."

 It is common for such a movement to be made between the big players in the cryptocurrency game, like Ripple or major exchanges like Binance, so it's possible this wallet could even belong to Upbit itself. But this is just guesswork, and we are still not sure who owns the address.

While it is tempting to think this is a sign that whales are building up their holdings, it's best not to jump to any conclusions just yet. Have to do some more digging and keep a close eye on things to see what is really going on.

@ Newshounds News™

Read more:  U Today

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Thank you Dinar Recaps

7 Surprising Money ‘Rules’ Most People Don’t Know (But Should)

7 Surprising Money ‘Rules’ Most People Don’t Know (But Should)

Sarah Bourassa  Sun, January 12, 2025  HuffPost Life

You’ve probably heard common financial advice like keeping a budget and trying not to spend more than you make. But other tips aren’t as well-known that can help you save a lot of money and create a financially healthy life. 

From daily hacks to long-term tips, we talked to financial experts about not-so-obvious money advice they follow. Here’s what to know:

1. Sometimes you have to spend more to save more.

“A low price on a lousy product is actually a terrible deal because you will end up spending more, in the long run, to replace cheaply made items that break easily,” Andrea Woroch, a consumer-finance and budgeting expert, told HuffPost. “Focus on quality and spend more if it means it will last.”  

Woroch tries to save on quality merchandise by shopping second-hand for name brands. For big-ticket items, she recommends taking advantage of retail sales events (like Amazon Prime Day) and buying seasonal items (like patio furniture and winter clothing) at the end of the season. Other tips: Participate in free loyalty programs and search for online coupons before making a purchase.

2. Don’t be too restrictive with your budget, and don’t try to change it all at once.

“Although a detailed budget keeps you on track to meet your financial goals, one that is too restrictive will actually backfire quickly due to burnout,” Woroch explained. “[And] if you try to change all your spending habits overnight, it will be difficult to stick to the plan.” 

Instead, she suggests making a few small changes to your spending and savings habits — and then building on these once they become routine.

She said it’s also important to make room in your budget for expenses that matter to you. For example, if a dinner date with a friend or partner is a priority, keep this in your budget. Find other ways to cut down on spending, like canceling unused subscriptions and unplugging gadgets to decrease energy bills.

3. Beware of convenient methods of payment, like auto-renew.

TO READ MORE:  https://www.yahoo.com/finance/news/7-surprising-money-rules-most-080013006.html

“Tidbits From TNT” Monday Morning 1-13-2025

TNT:

Tishwash:  Central Bank Renews Directive to Spread and Expand Financial Services and ATMs

The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/."link

Tishwash:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, “The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers.”

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that “currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country,” noting that “most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which "Requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion." link

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

Tishwash:  Government Advisor: ASYCUDA System is a Vital Tool for Developing Customs Work and Boosting International Trade

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed today, Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade.

Saleh told the Iraqi News Agency (INA): "ASYCUDA is a customs data management system developed by the United Nations Conference on Trade and Development (UNCTAD) since the eighties of the last century, as this system aims to simplify and accelerate customs and border crossing operations using modern digital technology, according to the generations of the system applied, including the second advanced generation that relies on cloud digital technology."

He added that "in line with the government program to enhance the efficiency of collecting non-oil revenues and make them no less than 20% of total revenues, the Ministry of Finance and government support agencies have taken the step of joint cooperation with the United Nations to develop customs control and collection systems and control the movement of imports and exports in accordance with the best digital measures in applying customs tariffs on incoming imports and conducting matches with countries of origin."

Saleh continued that "the General Authority of Customs and the Border Ports Authority completed the procedures for working with the ASYCUDA system last year and are progressing in the new year 2025, including providing high-quality digital infrastructure," noting that "the importance of implementing the ASYCUDA system is that it provides comprehensive automation of customs operations, such as data recording, fee assessment, customs clearance, and records management."

The Prime Minister's Advisor for Financial Affairs explained that "this system reduces delays at border crossings and increases efficiency, in addition to enhancing transparency and disclosure of traded materials, and most importantly, it reduces corruption by reducing direct human interaction and adopting a reliable electronic system for recording and processing data," noting that "the increase in customs revenues that occurred last year was due to ASYCUDA's role in improving the process of assessing customs duties and taxes, which ensures fair and accurate collection of revenues."

Saleh explained that "the system enhances international trade by reducing administrative obstacles and allowing for the acceleration of the clearance process, which encourages the growth of trade between countries, and helps support analysis and statistics, and even provides a comprehensive database on the movement of goods across borders, which supports decision-makers in setting economic and trade policies. As for improving border security, the ASYCUDA system allows for better tracking and inspection of shipments, which helps combat smuggling and illegal activities."

He stated that "the ASYCUDA system is a vital tool for developing customs work and achieving a balance between facilitating trade and protecting borders, which makes it a fundamental pillar of any modern customs system, as Iraq is among the group of Arab countries that apply this system in an integrated manner in ports, airports and land borders, including Jordan, the Emirates, Saudi Arabia and Egypt."link

Mot: .. Warning them Young fur Sure!!! 

Mot: .... Frustrating When This Happens  

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

1-12-2025

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=h0HK_XvQx4s

News, Rumors and Opinions Sunday PM 1-12-2025

TNT:

Tishwash:  Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility

The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.

Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."

He stressed that "announcing sessions without holding them due to the absence of MPs has become a recurring phenomenon," holding the parliament presidency "responsible for this delay."
Timur stressed "the need to pressure MPs to attend in order to legislate laws that affect the lives of citizens."

He pointed out that "the disagreements over some laws are because they concern certain segments or components and not others," explaining that "the agenda of today's session included seven non-controversial paragraphs, and it was expected that the session would be held without problems." link

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

Tishwash:  The Central Bank is working to provide various services to bank card holders.

The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:  https://complaint.app.cbi.iq/

Central Bank of Iraq 
Media Office 
January 12, 2025  link

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

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

Militia Man  We've been spot on talking about the dollar auctions going to cease and sure enough they have.  I'm thankful that has happened because I know what I own and I'm looking forward to it just like everybody else.

Frank26  Last week I followed [the parallel black market rate]...On Sunday it was 1310, on Monday it was 1275, on Tuesday it was 1170, Wednesday it was 1160.  IMO Sudani is looking for the black market to reach 1,000.  When he does, IMO, the game is on.  That is the next step ladies and gentlemen.  They are watching the illegal black market...the value of the dollar is dropping, thank you CBI for stopping the auctions...We're getting close to the next step.

MARKETS A LOOK AHEAD: ON THE EDGE OF A WORLD DEBT MARKET IMPLOSION.

Greg Mannarino:  1-12-2024

https://www.youtube.com/watch?v=WHe0MNAc_Yk

ADDICTED TO SPENDING: How America’s Debt Addiction Is Triggering Collapse

Taylor Kenny:  1-12-2025

The U.S. economy is on a collision course with hyperinflation and a currency reset as reckless government spending spirals out of control. Discover why stagflation and hyperinflation are inevitable, what history teaches us about economic collapse, and how you can safeguard your wealth. Learn why physical assets like gold and silver are your best defense against the coming crisis.

https://www.youtube.com/watch?v=Y_G74U4fVu4

Iraq Economic News and Points to Ponder Sunday Afternoon 1-12-25

Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption

Political | 12/01/2025  Mawazine News – Baghdad  The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.

Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.

He added that "the parliamentary committees have been directed to intensify their efforts to complete important draft laws, and activate the oversight role in a way that contributes to undermining opportunities for corruption and preserving Iraq's wealth." He also pointed to the need to enhance transparency by hosting officials to discuss challenges and find solutions to problems that hinder the implementation of public policies.

Al-Mandalawi stressed the importance of coordination with the executive authority to accelerate the completion of legislation that directly affects the lives of citizens, and to support the government in implementing its electoral program, while improving communication with citizens to convey their problems and follow up on their solutions effectively. https://www.mawazin.net/Details.aspx?jimare=258469

Currency Smuggling.. The Central Bank Punishes 10 Iraqi Banks Due To Violations Of Foreign Transfers
 
Today 14:14  Information/Baghdad… Representative Baqir Al-Saadi confirmed today, Sunday, that the 
Central Bank of Iraq issued sanctions against ten Iraqi banks due to violations related to the foreign transfer file, which has become a direct threat to the local economy.
 
Al-Saadi said, in a statement to the “Al-Ma’louma” Agency, that  “the file of smuggling hard currency outside Iraq is still a source of great concern, amid multiple question marks about the mechanisms for implementing these operations, especially with the continuing investigations into exchange offices and banks committing serious violations in foreign transfers.”. 

He added,  "The sanctions issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency outside the country." Al-Saadi pointed out that

  “currency smuggling
 
     has serious effects on the local economy, and
     causes an increase in financial crises in the country,” pointing out that
 
“most of the transfers that are made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the establishment of strict measures to stop this ongoing bleeding.”"

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new determinants and re-evaluating the tools used in financial transactions, with the importance of revealing the results of investigations to public opinion." Ended / 25F    
  
https://almaalomah.me/news/87949/economy/تهريب-العملة-المركزي-يعاقب-10-مصارف-عراقية-بسبب-مخالفات-الحو 

Financial Advisor: ASYCUDA System Boosts International Trade, Reduces Corruption At Customs Ports

Economy | 12/01/2025  Mawazine News –  Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Salih, stressed today, Sunday, the importance of adopting the "ASYCUDA" system in the Iraqi Customs Administration, pointing to its role in reducing delays at border crossings and enhancing international trade.

Salih explained that the ASYCUDA system, developed by the United Nations Conference on Trade and Development (UNCTAD) since the 1980s, relies on modern digital technology to simplify and accelerate customs operations.

He added that Iraq is implementing the second generation of this system, which relies on cloud technology to provide comprehensive automation of customs operations, including data recording, fee assessment, customs clearance, and records management.

He pointed out that the implementation of the system comes in line with the government program to enhance non-oil revenues to reach 20% of total public revenues, explaining that joint cooperation with the United Nations aims to improve customs control and collection systems and control import and export operations according to the best digital standards.

Saleh revealed that the General Authority of Customs and the Border Ports Authority completed the implementation of the system during the past year, while providing a high-quality digital infrastructure to develop customs work in 2025, stressing that this system contributes to reducing corruption by reducing human interaction and adopting full automation, which increases transparency and supports efficiency.

He explained that ASYCUDA enhances international trade by accelerating the customs clearance process and reducing administrative barriers, in addition to providing a comprehensive database that supports economic and trade policy-making, pointing to its role in improving border security by tracking and inspecting shipments more accurately to combat smuggling and illegal activities.

Saleh concluded by saying that ASYCUDA represents a vital tool for achieving a balance between facilitating trade and protecting borders, stressing that Iraq joins a group of Arab countries, such as Jordan, the Emirates, Saudi Arabia, and Egypt, that implement this system in customs ports in an integrated manner.   https://www.mawazin.net/Details.aspx?jimare=258464

Iraq Surpasses Saudi Arabia In Oil Exports To America

Energy  Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq has surpassed Saudi Arabia for the second week in a row in oil exports to the United States.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 6.016 million barrels per day, an increase of 251 thousand barrels per day from the previous week, which amounted to 5.765 million barrels per day."

She added that "Iraq's oil exports to America reached 180 thousand barrels per day last week, down by 32 thousand barrels per day from the previous week, which reached 212 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached an average of 69 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.422 million barrels per day, followed by Mexico at an average of 392 thousand barrels per day, then Venezuela at 253 thousand barrels per day, and Brazil at 233 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Nigeria amounted to an average of 192 thousand barrels per day, from Ecuador 147 thousand barrels per day, from Colombia 72 thousand barrels per day, and from Libya 56 thousand barrels per day." 126 views  Added 01/12/2025 https://economy-news.net/content.php?id=51836

125 Billion Dinars Revenues Of The Iraqi Islamic Bank

Banks  Iraqi Islamic Bank announced its financial results for 2024, which showed positive performance in a number of key indicators, as assets rose to 2.65 trillion dinars compared to 2.2 trillion dinars in 2023, representing a growth of 20 percent.

Credit also witnessed a significant jump, reaching 934.9 billion dinars, compared to 637.5 billion dinars in the previous year, an increase of 46.6 percent.

In contrast, deposits declined to 751.2 billion dinars compared to 1.19 trillion dinars in 2023, a decrease of 37 percent, while revenues increased to record 175 billion dinars compared to 132.9 billion dinars, representing a growth of 31.6 percent, which was reflected in profits that reached 86.5 billion dinars after they were 76.6 billion dinars in 2023, an increase of 13 percent. 287 views  Added 2025/01/12 - 10:39 AM  https://economy-news.net/content.php?id=51841

Chinese Ambassador: $50 Billion Is The Volume Of Trade With Iraq And Dealing In Yuan Is In Its Initial Stages

Economy | 11:56 - 12/01/2025  Mawazine News – Baghdad    Chinese Ambassador Cui Wei confirmed today, Sunday, that the volume of trade cooperation with Iraq during 11 months reached 50 billion dollars, while he indicated that dealing in the yuan between the two countries is in its initial stages.  https://www.mawazin.net/Details.aspx?jimare=258455

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-12-25

Good Afternoon Dinar Recaps,

KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT

Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.

Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.

Speaking on Friday, Mbadi outlined the government’s plans to create a regulatory framework for cryptocurrencies, an industry that has operated in the shadows despite an official ban.

“Kenya’s financial sector is a beacon of innovation and growth in Africa,” Mbadi stated. “The emergence and growth of Virtual Assets and Virtual Asset Service Providers have given rise to innovations in the local and international financial system with dynamic opportunities and challenges.”

While recognizing the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and fraud, Mbadi emphasized that a legal framework would allow Kenya see the benefits of the crypto market while mitigating its dangers.

“The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks,” he added.

IMF Urges Kenya to Establish Clear Crypto Regulations

The proposed policy seeks to establish a fair and competitive crypto market and improve financial literacy across the country.

This initiative aligns with recent calls from the International Monetary Fund (IMF), which urged Kenya to develop regulations to address consumer protection and financial crime concerns related to cryptocurrencies.

In a technical assistance report released on January 8, the IMF outlined shortcomings in Kenya’s current regulatory approach to crypto assets.

Outdated frameworks have struggled to address the rise in crypto-related scams and illicit activities, leaving consumers vulnerable to financial risks.

With Kenya joining the growing list of African nations embracing cryptocurrency, this regulatory shift could position the country as a regional hub for blockchain innovation while addressing systemic risks.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

SINGAPORE LABELS POLYMARKET ILLEGAL GAMBLING, RESTRICTS SITE ACCESS

▪️Singapore blocks Polymarket, citing unlicensed gambling.

▪️Polymarket faces a ban in France and CFTC subpoena in the US.

Singapore has officially blocked Polymarket, a crypto-based betting platform, citing its unlicensed status in the country.

Warning Notice

Visitors to the site are greeted with a warning from the Gambling Regulatory Authority, labelling it an illegal gambling operation.

The notice warns that gambling on unlicensed platforms may result in fines, jail time, or both.

The block falls under the Gambling Control Act 2022, which mandates that all gambling operators targeting Singaporean residents obtain proper licensing.

Singapore currently restricts online gambling to state-approved operators like Singapore Pools, the country’s sole licensed provider.

Polymarket, known for hosting high-stakes prediction markets on events like the US presidential election, is also encountering resistance in Europe.

In France, the country’s gambling regulator, ANJ, blocked access to the platform in November.

According to The Big Whale, a French crypto news outlet, the ANJ considers Polymarket a form of illegal betting.

A source close to the regulator claimed, “This is not legal in France,” as officials examine its compliance with local gambling laws.

Meanwhile, in the United States, the platform is under fire from the CFTC, which has proposed stricter rules on prediction markets.

On Thursday it was revealed that Coinbase notified customers it received a subpoena from the CFTC seeking account information tied to Polymarket.

@ Newshounds News™

Source:  DL News

~~~~~~~~~

'LIVE FREE OR DIE': NEW HAMPSHIRE THE LATEST STATE TO CONSIDER BITCOIN RESERVE BILL

New Hampshire Rep. Keith Ammon proposed a bill to enable a Bitcoin treasury reserve, which he framed as a matter of state sovereignty.

New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.

Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt.

“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”

 Newshounds News™

Read more:  Decrypt

~~~~~~~~~

RIPPLE AND MOONPAY PLEDGE $50,000 IN RLUSD TO LAFD FOUNDATION FOR CALIFORNIA WILDFIRE RELIEF

▪️Wildfires in California have reportedly destroyed about 12,000 structures leading to over 11 fatalities, with containment still a challenge.

▪️Ripple and MoonPay donated $50,000 worth of RLUSD to the Los Angeles Fire Department Foundation, supporting first responders amid the crisis.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

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Thank you Dinar Recaps

Some “Iraq News” Posted by Clare at KTFA 1-12-2025

KTFA:

Clare:  Al-Sudani to pay official visit to UK tomorrow, Monday

 An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.

The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."

He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom.   link

Clare:  Trump's envoy on his way to Iraq.. A new message to Al-Sudani

1/11/2025

An informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying with him a message to Prime Minister Mohammed Shia al-Sudani.

According to the source, who spoke to Shafaq News Agency, "An American envoy is expected to arrive in Baghdad, carrying direct messages from Trump about the security of the region and Iraq's role in it."

The source explained that "the visit may be secret (not officially announced)," noting that the envoy will also discuss the details of Al-Sudani's recent visits, and Trump's vision according to the recent changes in the region.

An informed political source reported last week that the Iraqi Prime Minister received a message from US President-elect Donald Trump, via a special envoy on an unannounced visit, which included several axes .

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

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

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

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

Clare:  The Central Bank calls on banks to expand and expand ATM services and cash payment machines

1/12/2025 Baghdad - 

The Central Bank of Iraq called on banks, on Sunday, to expand the spread of cash delivery outlets through all available channels such as ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

Central Bank statement, as reported to 964 Network :

The Central Bank of Iraq works within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:

Click here  LINK

Clare: Central Bank of Iraq: We are working to provide ATMs in all regions

1/12/2025

The Central Bank of Iraq confirmed, on Sunday, that it is working to provide ATMs and cash payment machines, while indicating that it has directed all banks to spread their financial services in all regions.

The bank said in a statement received by Shafaq News Agency, "The Central Bank of Iraq is working within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices , as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

He added that "the Central Bank confirmed in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He pointed out that "the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously."  LINK

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

Clare:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

 1/12/2025  Information/Baghdad…

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, "The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers."

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that "currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country," noting that "most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion."  LINK

The Center of the Next Meltdown

The Center of the Next Meltdown

Liberty and Finance:  1-11-2025

The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.

During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.

Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.

While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.

His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.

“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”

He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.

The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.

This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.

The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.

However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.

This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.

In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.

While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.

https://youtu.be/0q_Mc29Mxg8