Seeds of Wisdom RV and Economic Updates Monday Afternoon 2-3-25
Good afternoon Dinar Recaps,
IT'S DONE Article 2 - This law shall be implemented from the date of its publication in the Official Gazette.
THE LAW PDF attached
In the name of the people
Presidency
Based on what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of Clause (First) of Article 61 and Clause (Third) of Article 73 of the Constitution.
Good afternoon Dinar Recaps,
IT'S DONE Article 2 - This law shall be implemented from the date of its publication in the Official Gazette.
THE LAW PDF attached
In the name of the people
Presidency
Based on what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of Clause (First) of Article 61 and Clause (Third) of Article 73 of the Constitution.
The following law was issued:
No. ( ) for the year 2024
The First Amendment Law to the Federal General Budget Law of the Republic of Iraq
For the fiscal years (2023 - 2025 - 2027) No. (13) of 2023
Article 1 - The text of Paragraph (c) of Clause (Second) of Article 12 of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2025 - 2025) No. 13 of 2023 shall be cancelled and replaced by the following:
C - 1. The Federal Ministry of Finance shall compensate the Kurdistan Regional Government from sovereign expenses for the costs of production and transportation of the quantities of oil produced in the region that are received by the State Oil Marketing Company (SOMO) or the Federal Ministry of Oil in accordance with paragraphs (a, b) of this clause, provided that the fair estimated costs of production and transportation for each field separately are calculated by a specialized international technical consulting body determined by the Federal Ministry of Oil in agreement with the Ministry of Natural Resources in the region, within a period of (60) sixty days from the date of entry into force of this law, and in the event of failure to reach an agreement within the aforementioned period, the Federal Council of Ministers shall determine the aforementioned consulting body.
The technical advisory body referred to in (1) of this paragraph shall submit the estimated cost of production and transportation to the Federal Ministries of Finance and Oil and the Kurdistan Regional Government, and it shall be approved for the purposes of this law. The compensation referred to in (1) of this paragraph shall be calculated based on the aforementioned cost per barrel multiplied by the number of barrels received in accordance with paragraphs (a, b) of this item, and the Federal Ministry of Finance shall undertake to pay the amounts to the Kurdistan Regional Government.
Immediately begin delivering the oil produced in the region to the State Oil Marketing Organization (SOMO) or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause, and the costs of production and transportation shall be compensated by the Federal Ministry of Finance as advances, at a rate of $16 per barrel, which shall be
Article 2 - This law shall be implemented from the date of its publication in the Official Gazette.
It shall be settled later after the specialized technical advisory body referred to in (1) of this paragraph has completed its work, and retroactively from the date of commencement of delivery pursuant to this amendment.
Positive reasons
For the purpose of appointing a specialized international technical advisory body to work on calculating the fair estimated costs of producing and transporting oil produced in the Kurdistan Region and for each field separately, preserving the national wealth, enhancing actual federal revenues, and enabling the State Oil Marketing Company (SOMO) to make optimal use of and diversify export outlets.
This law was enacted
@ Newshounds News™
Source: Shafaq
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TRUMP ORDERS CREATION OF US SOVEREIGN WEALTH FUND, SAYS IT COULD OWN PART OF TIKTOK
WASHINGTON (AP) — President Donald Trump on Monday signed an executive order directing the U.S. to take steps to start developing a government-owned investment fund that he said could be used to profit off of TikTok if he’s successful at finding it an American buyer.
Trump signed an order on his first day office to grant TikTok until early April to find an approved partner or buyer, but he’s said he’s looking for the U.S. to take a 50% stake in the massive social media platform. He said Monday in the Oval Office that TikTok, which is owned by China-based ByteDance, was an example of what he could put in a new U.S. sovereign wealth fund.
“We might put that in the sovereign wealth fund, whatever we make or we do a partnership with very wealthy people, a lot of options,” he said of TikTok. “But we could put that as an example in the fund. We have a lot of other things that we could put in the fund.”
Sovereign wealth funds invest in assets, such as stocks, bonds and real estate. They are typically funded by a country’s budgetary surpluses, which the U.S. currently does not have.
Trump noted many other nations have such investment funds and predicted that the U.S. could eventually top Saudi Arabia’s fund size. “Eventually we’ll catch it,” he promised. Countries like Norway also have a similar fund.
@ Newshounds News™
Source: AP News
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GOLD AND CURRENCY REVALUATION STRATEGY
Why does Gold need to revalue before the currency dilemma can be fixed? Will the price of gold affect the crypto market?
@ Newshounds News™
Source: CryptoLedger
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7 Mental Money Traps That Keep You Poor
7 Mental Money Traps That Keep You Poor
Crystal Mayer GoBankingRates
A recent study shows that over 60% of Americans are living paycheck to paycheck. If you are like one of the millions of people struggling to find financial stability, you might be stuck in the wrong mindset. Avoiding certain mental money traps can help you adjust your spending and start saving for your future.
Creating a budget and sticking to it can help you achieve your financial goals, but you will also need to rethink how you spend money. Prioritizing your spending can help ensure that you have money left over each month to invest. If you are tired of seeing a miniscule balance in your checking account, reconsider these 7 mental money traps that keep you poor.
7 Mental Money Traps That Keep You Poor
Crystal Mayer GoBankingRates
A recent study shows that over 60% of Americans are living paycheck to paycheck. If you are like one of the millions of people struggling to find financial stability, you might be stuck in the wrong mindset. Avoiding certain mental money traps can help you adjust your spending and start saving for your future.
Creating a budget and sticking to it can help you achieve your financial goals, but you will also need to rethink how you spend money. Prioritizing your spending can help ensure that you have money left over each month to invest. If you are tired of seeing a miniscule balance in your checking account, reconsider these 7 mental money traps that keep you poor.
You Need To Spend Money To Make Money
You have likely heard the old adage, “you need to spend money to make money.” While this may be true for startup businesses, it isn’t a good mindset for most people.
Many people feel that they need to live a specific lifestyle, spending well more than they make to give the perception that they are wealthier than they are. Overspending will only leave you frustrated and won’t help you make money.
Almost all money experts agree that the key to wealth is investing. If you want to stop living paycheck to paycheck, take a look at your non-essential spending and start investing. Even small investments can pay off significantly over time.
Retirement Is Far Away
Many young people fall into the trap of thinking that retirement is far away so they don’t need to worry about it. Unfortunately, waiting to start saving for retirement can cost you big. Fidelity Investments recommends that you have at least 1x your salary saved by the time you are 30 and 3x your salary by the time you are 40.
The longer you wait, the less likely you will have the money you need when you retire. The good news is that even if you haven’t started saving, you can start now. The best way to go about it is by meeting with a financial advisor. Make sure you are also taking full advantage of your company’s 401(k) matching if they offer it.
You’ll Be Happy If You Buy Something
https://finance.yahoo.com/news/7-mental-money-traps-keep-120044792.html
Traceable, Credible Gold for Saudi Arabia
Traceable, Credible Gold for Saudi Arabia
Kitco News: 2-3-2024
Saudi Arabia is undergoing a significant economic transformation, moving beyond its traditional reliance on oil and gas. A key element of this diversification strategy is the development of its mining sector, with the Kingdom aiming to establish itself as a major player in the global mineral supply chain and, more specifically, a “global intermediary” in the critical minerals market.
This ambition was highlighted in a recent interview conducted by Kitco’s Senior Mining Editor and Anchor, Paul Harris, with His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources of Saudi Arabia, on the sidelines of the Future Minerals Forum in Riyadh.
Traceable, Credible Gold for Saudi Arabia
Kitco News: 2-3-2024
Saudi Arabia is undergoing a significant economic transformation, moving beyond its traditional reliance on oil and gas. A key element of this diversification strategy is the development of its mining sector, with the Kingdom aiming to establish itself as a major player in the global mineral supply chain and, more specifically, a “global intermediary” in the critical minerals market.
This ambition was highlighted in a recent interview conducted by Kitco’s Senior Mining Editor and Anchor, Paul Harris, with His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources of Saudi Arabia, on the sidelines of the Future Minerals Forum in Riyadh.
The interview offered insights into the Kingdom’s bold plans to leverage its mineral wealth and establish itself as a vital hub in the rapidly evolving landscape of critical minerals.
Saudi Arabia sees mining as the third industrial pillar, standing alongside oil and gas and petrochemicals, a significant shift in focus for the nation. This strategic move is underscored by the fact that the Kingdom has identified a staggering $2.5 trillion in mineral resources, a figure that has already garnered significant international attention and investment interest.
Saudi Arabia’s geographical location is crucial to their strategy. Positioned at the heart of the fastest-growing region globally, the Kingdom aims to become a central mining hub connecting various global markets.
However, their ambition extends beyond simply extracting and exporting minerals. The Kingdom seeks to play a more nuanced role as a “global intermediary,” navigating complex geopolitical tensions while simultaneously building its capacity to produce and process critical minerals. This means fostering international collaboration and forging partnerships with companies and countries from around the world, irrespective of political differences.
This approach is particularly significant in the context of the global demand for critical minerals, which are essential for the development of clean energy technologies, electric vehicles, and various other modern industries. By positioning itself as a neutral intermediary, Saudi Arabia hopes to facilitate a more secure and stable supply chain, mitigating potential disruptions and ensuring a more equitable distribution of these vital resources.
The interview also shed light on Saudi Arabia’s specific mineral resources. While the $2.5 trillion figure encompasses a diverse range of minerals, gold is a key focus.
The Kingdom currently holds the 15th largest gold reserves in the world and is actively working towards increasing its gold refining capacity. This move not only aims to maximize the value of their own gold reserves but also positions Saudi Arabia as a potential processing hub for gold from other regions.
Beyond resource extraction and production, Saudi Arabia emphasizes its commitment to responsible mining practices. This includes prioritizing environmental sustainability, community engagement, and implementing ethical labor standards. This approach is crucial for ensuring that mining activities contribute to the country’s long-term development goals and do not negatively impact the environment or local populations.
In conclusion, Saudi Arabia’s ambition to become a “global intermediary” in the development of critical minerals is a key component of its broader economic diversification strategy. By leveraging its significant mineral resources, geographical location, and a commitment to international collaboration and responsible mining, the Kingdom is positioning itself as a crucial player in the future of the global mineral supply chain.
This marks a significant shift, not only for the Saudi economy but also for the global landscape of critical mineral development, offering a potentially more balanced and stable approach to this increasingly important sector.
“Coffee With MarkZ” Monday Morning Chat 2-3-2025
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 Morning and welcome to a new week of possibilities
Member: Happy Monday. Hopefully Punxatawnee Phil didn't predict 6 more weeks until the RV...
Member: With the Iraq budget passing reports coming out this weekend, I'm thinking this might be a great show today . Wonder what is next?
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 Morning and welcome to a new week of possibilities
Member: Happy Monday. Hopefully Punxatawnee Phil didn't predict 6 more weeks until the RV...
Member: With the Iraq budget passing reports coming out this weekend, I'm thinking this might be a great show today . Wonder what is next?
Member: Hoping to see HCL pass this week. Triggering the RV
Member: We were always told the RV will be shortly after the HCL so just hold on. Almost there!
MZ: yes- We were told after the HCL was complete –to expect the RV in a matter of days. A big roadblock to HCL was removed yesterday.
MZ: We have a plateful for today. So much is happening.
MZ: in Iraq: “Iraqi Parliament approves budget amendment-clearing path for Kurdistan oil exports” this will be about 20 million dollars a day in additional revenue. About 400 thousand barrels of oil that was not going to the budget. That is over 10 Billion dollars per year. They have also agreed and funded salaries. This is an enormous breakthrough over the weekend….what is next though?
MZ: Now it’s time to send the budget tables and finish those this week. They have agreed on it….now it is time to finish all the paperwork….that is where we are at right now.
Member: Many times in Iraq- if they print it- its already done.
Member: We had a great weekend in Iraq. The trade show was huge. Their budget passed! Fingers crossed
Member: Militia man’s update this morning was that everything is done everything is agreed on
Member: (From Dinar Guru) Mnt Goat: Trump...has now taken on the issues involving Iraq. This is a very good for us investors as we all know the value of the dinar has been greatly suppressed due to corruption and stalling...
Member: If Iraq is doing so well with a reate of 1310- why do they need to change it.
MZ: Because it’s a rentier economy. Meaning it’s not sustainable. They need to properly represent themselves internationally …It’s very important for Iraq to change their rate.
MZ: Enormous things happened over the weekend. Many expected the RV rate to be there this morning….but I thought that was a little premature. Stay calm everyone.
Member: I know we need to stay calm and you keep telling us that, but Marc we have been waiting for so long and it’s always something new that they put in front of us and hold it up
Member: I would like to know about what the redemption center staff were doing since they worked over the weekend?...
MZ: They spent their weekend training. They are preparing for fundamental and monetary banking changes. They are preparing and getting educated on a new banking system! The comment was “assets will be much more important” I do not know details. I do not know if that means new money and new rainbow currency. But I found it extremely encouraging that they were told it was not just their bank….but a worldwide and country wide change in banking.
Member: Hope they are talking about the QFS. Is that what they were trained on?
MZ: I really wish I could have been in that room this weekend. They know it’s a new system….but they may use different terms. They know it will use quantum banking and new computer systems….but, they don’t call it the same things we call it.
Member: I bet the bankers are ready to get their training pants off and we actually RV
MZ: They will have more training next weekend….will this be it? I feel good about next weekend.
Member: When do you it will go Mark? By the end of February?
MZ: To me- with this training and progress we have seem over the last few days- I don’t think we will wait that long.
MZ: I hope to have more news from Reno ect…..by tonight.
Member: Charlie ward always said the RV will happen on a Thursday…Maybe this Thursday?
MZ: it’s possible. I Was told it most likely will be on a Saturday night into a Sunday Morning. Between 11 pm est and 2 am est. That is when the banks are quietest around the world. The second best time is a Thursday afternoon…
Member: Online banking down today in the UK.
MZ: isn’t that curious?
Member: Stocks dramatically dropping!!!!!
Member: Gold is up, stocks are down and crypto is all over the place.
Member: Maybe the market is not being manipulated, maybe it's being reset to what it should be?
Member: President Trump's Crypto Czar David Sacks to hold press conference tomorrow to discuss securing America "as a leader in the digital asset ecosystem."
Member: The use of tariffs is a perfect off-ramp to get rid of income taxes whilst reducing government spending. The crooks do not want this!
Member: Mark how will people be notified when it is time to go in and exchange? Emails, phone numbers or folks like yourself?
Member: All the dinar sites will announce it…..all the gurus will announce it. You will not miss it.
Member: I think things are about to get really crazy out there. Going to be an interesting week!
Member: President's day is February 17th which is on a Monday
Member: Hope we don’t have to wait till Easter for the St Germaine funds to release?
Member: Thanks Mark and mods…..look forward to more updates tonight. Have a good day everyone.
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!
News, Rumors and Opinions Monday 2-3-2025
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 3 Feb. 2025
Compiled 3 Feb. 2025 12:01 am EST by Judy Byington
What We Think We Know as of Sun. 2 Feb. 2025:
Sun. 2 Feb. 2025: The US Inc. Corporation is Bankrupt, along with it’s privately owned Federal Reserve and IRS, which have for years been functioning on a fiat US Dollar.
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 3 Feb. 2025
Compiled 3 Feb. 2025 12:01 am EST by Judy Byington
What We Think We Know as of Sun. 2 Feb. 2025:
Sun. 2 Feb. 2025: The US Inc. Corporation is Bankrupt, along with it’s privately owned Federal Reserve and IRS, which have for years been functioning on a fiat US Dollar.
Sun. 2 Feb. 2025: The new Restored Republic has a Second Declaration of Independence, along with the US Gold to support it stored in the new US Treasury near Reno, Nevada. The BRICS nations have instigated a Global Currency Reset.
Global Currency Reset and NESARA/GESARA Debt. Jubilee:
Mon. 3 Feb: Set RV for Mon. 3 Feb: Iraqi Dinar Congratulation Donald Trump Sent the Date For RV 3rd Feb Today Updates & RV News
Last week JFK Jr. announced that The Plan had always been set for Feb. 2025. It was assumed that meant activation of the Quantum Financial System which would be accompanied by Ten Days of Worldwide Communication Darkness.
Month of Feb: “The Plan Never Changed. It was Always February. The Chest Will Open Very Soon!” …John F. Kennedy Jr. on Telegram
Mon. 3 Feb. QFS set to Activate Worldwide
Sun. 9 Feb. QFS set to become fully operational with intense military operations.
Sun. 2 Feb. 2025: BOOM! BANKRUPT U.S. CORPORATION: Trump Restores the Republic, Jan Halper-Hayes, the Vatican, and “We Have the Gold!” – amg-news.com – American Media Group
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Global Financial Crisis:
~~~~~~~~~~~~
Restored Republic:
Global Currency Reset in progress.
Worldwide gold-asset backed Quantum Financial System Activated.
Read full post here: https://dinarchronicles.com/2025/02/03/restored-republic-via-a-gcr-update-as-of-february-3-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat President Trump...has now taken on the issues involving Iraq. This is a very good for us investors as we all know the value of the dinar has been greatly suppressed due to corruption and stalling...Yes, we all know and so does the CBI that this needs adjustment. The adjustment is coming but it will take political willpower to do it.
Frank26 The East [Middle East bank owner contacts] were willing to talk to us and tell us we see those lower notes in those [January article] pictures. Yeah they're using the 3 zero notes. We asked why are they using the 3 zero notes, why don't they show them the real lower notes? They said because the real lower notes are going to look like the ones they got now. What? Yeah, they're just going to drop the zeros, the colors and the shape will still be the same. The only one that will be different will probably be the 25. It will be smaller and it'll be a 20. It's hard to get information but what little bit we've got is just so encouraging.
The Great Melt-Up Accelerates: Engineering the Endgame Against You
Taylor Kenny: 2-3-2025
The Great Melt-Up is here, and it's accelerating faster than anyone expected. Inflation is rising, debt is exploding, and the government is manufacturing a crisis to justify unlimited money printing—leading us straight to hyperinflation and a Currency Reset.
CHAPTERS:
00:00 - The Great Melt-Up Explained
01:08 - The National Debt Crisis
02:47 - Two Government Choices: Deflation or Hyperinflation
04:33 - Why the Government Will Choose Hyperinflation
06:55 - How They Will Manufacture a Crisis
09:02 - The Coming Currency Reset
Seeds of Wisdom RV and Economic Updates Monday Morning 2-3-25
Good Morning Dinar Recaps,
CRYPTO CATASTROPHE: WORLD RECORD BROKEN, WORST BLOODBATH IN HISTORY
Market in shambles after introduction of trading tariffs sparks enormous liquidation surge
One of the worst bloodbaths in the history of the cryptocurrency market just occurred, with liquidations skyrocketing past $2.24 billion in the last day.
With Bitcoin plummeting to $94,000 and the entire market collapsing along with it, this massive wipeout has destroyed leveraged traders. The magnitude of the losses has broken all previous records, making this one of the most vicious sell-offs in the history of cryptocurrency.
Good Morning Dinar Recaps,
CRYPTO CATASTROPHE: WORLD RECORD BROKEN, WORST BLOODBATH IN HISTORY
Market in shambles after introduction of trading tariffs sparks enormous liquidation surge
One of the worst bloodbaths in the history of the cryptocurrency market just occurred, with liquidations skyrocketing past $2.24 billion in the last day.
With Bitcoin plummeting to $94,000 and the entire market collapsing along with it, this massive wipeout has destroyed leveraged traders. The magnitude of the losses has broken all previous records, making this one of the most vicious sell-offs in the history of cryptocurrency.
With $609 million in liquidations, Ethereum traders were the most negatively impacted, according to the liquidation heatmap. At $412 million, Bitcoin trailed closely behind, while liquidations exceeding $85 million were reported by XRP, Dogecoin and Solana.
The biggest single loss happened on Binance, with an ETHBTC trade worth $25.64 million and a whopping 734,621 traders liquidated in a single day.
After losing crucial support at $97,000, Bitcoin is currently testing $92,000 – a level that may dictate its course in the near future.
The price of Bitcoin may drop to $83,000 if it drops below this level, signaling a more significant correction. With Bitcoin at the top of the market, altcoins are doing even worse; some have already dropped more than 80% from their peak.
Altcoin momentum has completely collapsed, falling to 38 out of 100, according to the CMC Altcoin Season Index, which indicates a strong phase dominated by Bitcoin.
This change reflects traders' swift decline in risk appetite and their flight from altcoins to safer assets. The cryptocurrency market is in a panic right now. If Bitcoin is unable to stay above $92,000, it is likely to continue declining.
Particularly for altcoins that have already been in free fall, losses could get even worse. Overleveraged traders have paid the price, and this carnage may not end yet unless volatility levels off.
@ Newshounds News™
Source: U Today
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CARDANO (ADA) VOLUME SKYROCKETS 428% DESPITE WORST CRYPTO BLOODBATH
Cardano dropped below $0.70 as traders rushed to sell ADA, pushing volume to historic levels
The broader digital currency ecosystem recorded its worst single-day bloodbath this year, with assets like Cardano (ADA) at the forefront. At the time of writing, the ADA price changed hands for $0.7012, down by 20.53% in the past 24 hours. The coin dropped to $0.5648 in earlier trading, its lowest level in nearly 90 days.
Cardano volume took different turn
Despite the selloff, one unique Cardano metric, the transaction volume, recorded an impressive rally.
Per data from CoinMarketCap, the Cardano volume is up 428.86% to $3.77 billion. This boost in trading volume is not commensurate with the price outlook, thus implying traders were in flight mode over the weekend.
Market data shows that more than $36 million has been lost by ADA traders in the past 24 hours via liquidations. Long traders suffered the most, with over $31 million taken out unduly. With the crypto market drawdown triggered by the tariff war in North America, the effect appears comprehensive across all markets.
At the moment, a high level of volatility has been introduced into the Cardano trading ecosystem. After this multi-month low price, the coin has inked some rebound, but generally, the coin is not out of the woods yet.
Catalyst to watch and Bitcoin influence
Amid this unusual price slump, Cardano traders will likely focus on new anchors as the price recovers. These new anchors might include fundamental ecosystem updates and how they may shape the ADA ecosystem.
With the Plomin hard fork going live in the past week, Cardano proponents are now looking forward to how this upgrade can impact ADA accumulation and price outlook. In addition, ADA's whale activity is in the spotlight, as a large buying trend can trigger positive sentiment.
Meanwhile, the ADA-BTC correlation may yield a positive boost in the mid-to-long term. Bitcoin has stabilized its latest sell-off, hinting that Cardano may soon follow suit.
@ Newshounds News™
Source: U Today
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STOCK MARKET CRASH: GLOBAL MARKETS DROP ON TARIFF CONCERNS
Global markets plunged on Black Monday amid escalating trade tensions as U.S. tariffs on Canada, Mexico, and China spurred a worldwide sell-off. Asian indices led the decline with Taiwan’s Taiex down 4.4%, Japan’s Topix falling 2.3%, and Korea’s Kospi dropping 2.4%. In the U.S., the Nasdaq fell 2.5% as NVIDIA shares plunged over 6.5% to a low of $111.51. Analysts warn of further instability while China vows legal action for WTO violations. Investors brace for continued volatility amid rising fears.
@ Newshounds News™
Source: Coinpedia
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7 Experts Share Their Best Money Advice for Kids
7 Experts Share Their Best Money Advice for Kids
Financial Pilgrimage
There are a million things to worry about when raising children. Often, teaching our kids about money doesn’t rise to the top of the list. If your kids are anything like mine, they care about video games, dolls, sports, and many other things.
There is a push and pull when raising money-smart kids. As parents, we want to provide our kids with the best life. Sometimes that means giving them the toy we always wanted as a kid but could never afford. It feels terrific when your kid is happy.
7 Experts Share Their Best Money Advice for Kids
Financial Pilgrimage
There are a million things to worry about when raising children. Often, teaching our kids about money doesn’t rise to the top of the list. If your kids are anything like mine, they care about video games, dolls, sports, and many other things.
There is a push and pull when raising money-smart kids. As parents, we want to provide our kids with the best life. Sometimes that means giving them the toy we always wanted as a kid but could never afford. It feels terrific when your kid is happy.
The hard part is thinking through the downstream impacts of giving them everything they want. Handing everything to them will make it challenging to appreciate hard work. How will they learn to appreciate how fortunate we are to live in the United States of America, one of the wealthiest countries in the world? How do we teach them there is more to life than material things?
I’m not sure I have found the correct answers to these questions. Or at least I am still trying to figure them out. I turned to money experts on Twitter to share their best advice for kids. The responses were excellent, and I took a few notes as a parent. So read on for money advice for kids from seven personal finance experts.
7 Experts Share Their Best Money Advice for Kids
Lesson 1: Make Their Money Work For Them
This article from the Interesting Dollar shared a great idea to use birthday money to demonstrate the value of interest. By gifting $300 a year for birthdays (between parents, grandparents, and aunts/uncles), you could demonstrate the growth provided by interest over a relatively short period. This simple exercise can help teenagers delay gratification and better understand how interest works. Below is an excerpt from the article.
“I did the math and thought that if they received $300 a year from age 10 to 17 and 8% interest, they would receive $2,592 on their 18th birthday. Then, each year they would receive the interest check on the balance in the account.”
Lesson 2: Embrace Minimalism
So much of what makes a person successful with their finances as an adult is being intentional. A high income helps, but many people make a lot of money and still live paycheck to paycheck. I love this article from One Frugal Girl about her conversations with her children. It’s not necessarily about depriving your kids of toys but getting them to be thoughtful about why they want something.
“I want them to learn how to use their imaginations to prevent boredom rather than depending on a room full of toys.“
Lesson 3: Use Money to Buy Your Time
TO READ MORE: https://financialpilgrimage.com/money-advice-for-kids/
“Tidbits From TNT” Monday Morning 2-3-2025
TNT:
Tishwash: Prime Minister stresses Iraq's aspiration for more integration in economic and trade relations with the Sultanate of Oman
Prime Minister Mohammed Shia Al-Sudani stressed Iraq's aspiration for more integration in economic and trade relations with the Sultanate of Oman.
A statement by his media office said: "Al-Sudani received, today, Sunday, the Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al-Yousef, and his accompanying delegation."
TNT:
Tishwash: Prime Minister stresses Iraq's aspiration for more integration in economic and trade relations with the Sultanate of Oman
Prime Minister Mohammed Shia Al-Sudani stressed Iraq's aspiration for more integration in economic and trade relations with the Sultanate of Oman.
A statement by his media office said: "Al-Sudani received, today, Sunday, the Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al-Yousef, and his accompanying delegation."
During the meeting, according to the statement, relations between the two countries and ways to consolidate cooperation in various sectors, especially the economic and trade field, were discussed in a way that enhances the level of partnership and exchange, and confronts economic challenges in the region.
"Al-Sudani welcomed the guest minister, stressing Iraq's aspiration for more integration in economic and trade relations with the Sultanate of Oman, pointing to the resources of development in the Iraqi investment environment, especially after the comprehensive reforms it has witnessed."
For his part, Al-Yousfi conveyed the greetings of Sultan of Oman Haitham bin Tariq to Al-Sudani, reiterating his country's desire to increase cooperation in various fields. link
Tishwash: Parliamentary Finance Committee "explodes a surprise" regarding the cost of extracting oil from the Kurdistan Region
The Finance Committee of the Iraqi Council of Representatives said on Sunday that the vote on amending the general budget law is related to the proposal sent by the federal government to the council. While it explained that the cost of extracting oil is $16 and is not fixed, but may reach $22, it confirmed that stopping the export of the region's oil led to the federal government losing more than $14 billion.
Committee member, Ikhlas al-Dulaimi, told Shafaq News Agency, "The House of Representatives voted today to amend the general budget law, and the vote was on the proposal sent by the government to the House."
Al-Dulaimi explained that “the cost of extracting oil in the Kurdistan Region, according to the amendment, is $16 per barrel, and the cost is not fixed, as there will be a consulting company that will determine the actual cost of extracting oil, and it may reach $22 per barrel, and according to this cost, the federal government will be obligated to pay it to the Kurdistan Region.”
She explained that, "according to the budget amendment, the region's oil will be delivered to SOMO, which will be responsible for selling the oil abroad," noting that "the halt in oil exports was not due to the region, but rather it was due to the federal Ministry of Oil filing a lawsuit against the Ministry of Oil in the region, which caused the halt in oil exports, and this led to the federal government losing more than 14 billion dollars."
Today, Sunday, the Iraqi Council of Representatives voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years 2023 - 2024 - 2025 No. 13 of 2023.
For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget "violates the law and the internal regulations of the council due to the lack of a legal quorum."
Majeed explained that "the number of present representatives does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
He added, "We will file an appeal with the Federal Court against the House of Representatives for violating the law and proceeding with the vote on amending the budget law link
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Tishwash: Al-Sudani and Masrour Bazani welcome the passage of the budget law amendment: a responsible step
Iraqi Prime Minister Mohammed Shia al-Sudani welcomed, on Sunday, the passing of the amendment to the financial budget law, while considering the vote on the law a "responsible step."
Bassem Al-Awadi, the spokesman for the Iraqi government, said in a statement received by Shafak News Agency, "Al-Sudani expresses his appreciation for the responsible and constructive step taken by the esteemed House of Representatives, by approving the amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years 2023-2024-2025, Law (13 of 2023), according to the text of the amendment received from the Council of Ministers . "
According to the statement, Al-Sudani thanked the Speaker of the House of Representatives, the First Deputy Chairman of today's session, the Second Deputy Chairman, and the heads of the parliamentary blocs, for their understanding and support of the government's vision, which has continued to implement its program according to the priorities previously approved by the people's representatives, which meet the aspirations of the Iraqi people.
He added that "voting on the amendment according to the text approved by the Council of Ministers confirms the political stability and the state of understanding that characterizes this stage, and also reflects the high cooperation between the government and the House of Representatives to continue working together, in order to continue the momentum of the wheel of development, reconstruction and reform, which has started and will not stop, as the government continues to work to confront problems and challenges with a sense of responsibility and based on the supreme interests of Iraq."
According to the statement, Al-Sudani called on both "the Kurdistan Regional Government of Iraq, with its specialized institutions, and the Federal Ministry of Oil, to immediately begin and work on this amendment, in order to optimally invest in natural resources, especially oil wealth, and let this wealth be a factor in supporting stability, and a motive for further achievement of plans and programs that meet the needs of our honorable people . "
In turn, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, welcomed the passage of the amendment to the budget law.
Barzani wrote in a tweet on the X website, "We welcome the vote of the Federal Council of Representatives today to amend the Federal General Budget Law, and we commend all those who contributed to the success of this amendment. We also thank the negotiating team in the regional government for its efforts in developing a mechanism to resolve the issue of salaries."
He expressed his hope that "this positive step in amending the budget law will be the beginning of solving all other problems, and the federal government's commitment to sending salaries and financial dues to the Kurdistan Region."
Earlier today, Sunday, the Iraqi Council of Representatives voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023link
Mot: ...... Or - NOT!!!!
Mot: Thanx!!! --- He Took Care of it - He Dids!!!!
MilitiaMan & Crew Iraq Dinar News-Baghdad Fair-1250 Companies Attend-2024 Budget Law-Salaries Paid-Global Markets
MilitiaMan & Crew Iraq Dinar News-Baghdad Fair-1250 Companies Attend-2024 Budget Law-Salaries Paid-Global Markets
2-2-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew Iraq Dinar News-Baghdad Fair-1250 Companies Attend-2024 Budget Law-Salaries Paid-Global Markets
2-2-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Sunday “News and Views” Posted by KTFA Members 2-2-2025
KTFA:
Clare: Shafaq News publishes the first amendment to the budget law for the years 2023-2025
2/2/2025
Shafaq News Agency publishes the text of the first amendment to the Iraqi state general budget law for the years 2023-2025, which was voted on by the Council of Representatives in today's session, Sunday.
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year this evening, Sunday, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
KTFA:
Clare: Shafaq News publishes the first amendment to the budget law for the years 2023-2025
2/2/2025
Shafaq News Agency publishes the text of the first amendment to the Iraqi state general budget law for the years 2023-2025, which was voted on by the Council of Representatives in today's session, Sunday.
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year this evening, Sunday, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
Another_Mailman: I believe that today was the last big hurdle that needed to be settled! Imo, the budget was already "read" the necessary amount of times and should be passed within a week. Superbowl Sunday would be great, IMO!
Clare: THIS IS A MAJOR BREAKTHROUGH IMO. IT IS WHAT SUDANI WANTED AND HE MADE SURE IT HAPPENED TODAY! (THAT'S WHY HE HAD THOSE MEETINGS FRIDAY NIGHT.) IMO THIS IS GOOD FOR US!
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Clare: Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025
2/2/2025
The Iraqi Parliament voted, on Sunday, on the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
For his part, independent MP Ahmed Majeed announced in a statement to Shafaq News Agency that members of the House of Representatives from the central and southern governorates boycotted the parliament session held today, considering that voting on the budget is "a violation of the law and the internal regulations of the council due to the lack of a legal quorum."
Majeed explained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
He added: "We will file an appeal with the Federal Court against the House of Representatives for violating the law and proceeding with the vote on amending the budget law."
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year a short while ago, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
A parliamentary source told Shafaq News Agency, "The representatives of the Central and Southern Front boycotted the session in protest against the amendment of the budget law. The number of representatives of the Front is about 50 representatives, most of whom are independents."
The representative of the Central and Southern Front, Raed Al-Maliki, said during a press conference held in the parliament building with the participation of the representatives and attended by a Shafaq News Agency correspondent, "We are a group of representatives from the central and southern governorates who boycotted the parliament session on Sunday because of the paragraph amending the budget law."
Al-Maliki added, "We requested that there be a joint administration with the regional government, and that companies be obligated to review contracts, and that other articles be reviewed, including Article 14 of the budget law, in addition to other articles and the deficit in the budget law."
He stressed, "Our demands relate to implementing the rights of the central and southern governorates and financing the government contracting expenses of companies contracting with local governments."
Parliament Speaker Mahmoud Al-Mashhadani, who is currently visiting the Iranian capital Tehran, announced before his departure that Parliament will approve today, Sunday, amending the general budget in accordance with the text sent by the Council of Ministers.
Earlier today, the Coordination Framework, which brings together Shiite political forces, revealed the existence of a political agreement to pass the amendment to the budget law during the session of the Iraqi parliament scheduled to be held today.
The representative of the framework, Mohammed Radhi, told Shafaq News Agency, "There is a political agreement to pass the amendment to the budget law during today's session, as the text of the amendment was mentioned by the Iraqi government. There is a political and parliamentary will and desire to support the government's steps to resolve the differences with the region."
Radi added, "The agreement to pass the amendment to the budget law came in order to push the government to expedite sending the 2025 budget schedules, as no one wants to disrupt this budget, to prevent obstructing the construction and reconstruction process, and launching many strategic and important projects during this year."
The Finance Committee of the Iraqi Council of Representatives announced yesterday, Saturday, that the Council of Representatives will vote in today’s session, Sunday, on the government’s proposal to amend Article 12 of the General Budget Law.
The draft amendment to Article 12 of the Budget Law includes two paragraphs, the first of which relates to the costs of producing and transporting the Kurdistan Region’s oil after determining the actual estimated costs through the advisory body.”
As for the second paragraph, it stipulates that if the federal and regional governments do not agree on the costs of production and transportation, the Ministry of Oil shall choose a party to determine those costs, and as a result the cost of extracting oil from the oil fields in the region shall be calculated.
In June 2023, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025). LINK
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Clare: After approving the budget amendment, Shakhwan Abdullah announces containing the problem of Kurdistan oil and employees’ salaries
2/2/2025
The Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, announced on Sunday that the problems facing the export of oil from the Kurdistan Region have been contained, after passing the amendment to the federal budget law.
Abdullah said in an interview with a number of journalists, including a Shafaq News Agency correspondent, that the budget amendment came after everyone reached this conclusion, and now there are no problems facing oil exports.
He added, "Accordingly, oil will be exported from the Kurdistan Region in the future, and our goal is to contain the problem of employees' salaries."
Abdullah expressed his thanks to all the blocs, with their various names, that voted in favor of the budget bill to resume the export of oil from the Kurdistan Region, considering it "an important step to reconnect the region to global markets."
Abdullah also said, "The decision to sell oil through SOMO removed all excuses for the federal government not to send the budget."
He added: "Despite some problems occurring during the session, everyone eventually reached a conviction to pass this project, because any amendment would have taken us back to square one, especially since this project involves three parties: the regional government, the federal government, and the oil companies."
Abdullah stressed that "there is no longer any obstacle to resuming oil exports," explaining that the project addresses issues related to oil revenues and the return of benefits to the Iraqi government and the Kurdistan Region, and also contributes to resolving disputes related to the region's salaries and oil delivery.
The agreement came after a series of meetings between the Kurdistan delegation and the Iraqi government, the last of which was last Friday.
The issue of salaries of Kurdistan employees tops the list of disputes between Baghdad and the region, especially after the decision of the Iraqi Federal Court last year obligating both the Prime Minister of the Federal Council and the President of the Kurdistan Regional Government to localize the salaries of employees and workers in the public sector in federal banks.
Baghdad confirmed its commitment to the decision, but stipulated the submission of lists of employees’ names, while the regional Ministry of Finance considered that “ambiguity surrounds how to deal with the list.”
The Kurdistan Region has been witnessing a financial crisis and a liquidity shortage since losing its most important financial resources due to the halt of oil exports to Turkey via the Ceyhan Port pipeline after Ankara's decision to stop the flow of crude following an international arbitration ruling requiring it to pay compensation to Baghdad for the damages it suffered.
In turn, the federal government faces the challenge of securing employees’ salaries due to the budget deficit rising to more than 64 trillion Iraqi dinars, while the size of the domestic debt reaches about 14.5 percent of the gross domestic product, according to official data. LINK
Clare: The Prime Minister sponsors the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025
2/2/2025
Prime Minister Mohammed Shia Al-Sudani sponsored the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025.
Last December, the Arab Tourism Organization chose Baghdad as the Arab Tourism Capital for the year 2025. LINK
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Clare: Rafidain Bank announces the start of distributing retirees’ salaries for the month of February
2/2/2025
Rafidain Bank announced today, Sunday, the start of distributing retirees’ salaries for the current month of February through electronic payment tools.
The bank's media office said in a statement received by {Euphrates News}, a copy of which said, "The distribution of salaries for civilian and military retirees has begun."
He pointed out that "retirees who receive text messages can go to receive their salaries from wherever they are." LINK
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Clare: Italy invites Sudani to sign economic agreements
2/2/2025
Prime Minister Mohammed Shia Al-Sudani received today, Sunday, the Italian Ambassador to Iraq, Nicolo Fontana, where His Excellency congratulated him on assuming his new duties, wishing him success in his work.
During the meeting, they discussed bilateral relations between the two countries and support for joint cooperation in various fields and sectors. The meeting also addressed developments in the region, especially the events in Syria and the ceasefire file in both Gaza and Lebanon.
The Italian Ambassador renewed the invitation to the Prime Minister to visit Italy and work on signing a strategic agreement between the two countries, similar to the two agreements signed by Iraq with France and the United Kingdom. LINK
Iraq Economic News and Points to Ponder Sunday Afternoon 2-2-25
As Part Of Its War On Counterfeiting, Iraq Enhances The Security Of Its Currency With Improved Marks And Printing New Banknotes
economy 11:47 - 2025-02-01 Today's News - Follow-up Attentions in Iraq are directed towards the efforts made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq's disclosure of a set of modern security marks that have been added to the circulating banknotes comes as a qualitative step that reflects the keenness to keep pace with global developments in the field of currency printing and security.
As Part Of Its War On Counterfeiting, Iraq Enhances The Security Of Its Currency With Improved Marks And Printing New Banknotes
economy 11:47 - 2025-02-01 Today's News - Follow-up Attentions in Iraq are directed towards the efforts made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq's disclosure of a set of modern security marks that have been added to the circulating banknotes comes as a qualitative step that reflects the keenness to keep pace with global developments in the field of currency printing and security.
On January 19, the Central Bank of Iraq unveiled the security marks of the circulating banknotes, with the aim of educating the public, as well as companies and commercial banks that deal with these banknotes on a daily basis, reviewing these improved security marks, through a technical bulletin, in which it indicated the introduction of prominent marks on the new banknotes to enable the visually impaired to identify the banknote denominations by touch.
Mazhar Muhammad Salih, the economic advisor to the Prime Minister, confirmed in a statement followed by Al-Rasheed, that Iraq's decision to print a new currency is a natural decision that comes within the state's efforts to protect its national currency and enhance its security.
Salih explained that since the first issuance of the currency in 1934, Iraq has printed its currencies at the largest international printing companies, with the exception of the blockade period when the state was forced to resort to local printing.
He pointed out that Iraq still relies on the largest international companies specialized in printing currency, which are companies with a good reputation and high reliability and adhere to the highest international safety standards. He pointed out that this matter is of great importance to the economic security of Iraq and global security in general.
He added that Iraq reprinted its currency after 2003 with the largest international companies, including British and German companies. He explained that reprinting currency is a routine procedure that is carried out periodically to replace damaged papers and introduce new security improvements to the currency to protect citizens from counterfeiting and money laundering.
He stressed that these procedures come within the framework of the state's keenness to protect citizens' economic rights and ensure the stability of the Iraqi economy. He pointed out that the Central Bank of Iraq is the only body authorized to issue currency in accordance with the law, and there is strict security control over the printing and circulation process to prevent the entry of counterfeit currency into the country.
Saleh stressed that the cost of reprinting a single currency is very simple, not exceeding cents compared to its benefits, and that this procedure is an integral part of the policy of central banks around the world to maintain the stability of national currencies and protect national economies. https://today-agency.net/Details/33106
A Battle Against Counterfeiters And Money Laundering.. How Is Iraq Seeking To Protect The National Currency?
Posted on2025-02-02 by sotaliraq All eyes in Iraq are on the efforts being made to protect the national currency and enhance its economic security. In this context, the Central Bank of Iraq revealed a set of modern security features that have been added to the circulating banknotes as a qualitative step that reflects the keenness to keep pace with global developments in the field of printing and securing currencies.
On January 19, the Central Bank of Iraq unveiled the security features of the banknotes in circulation, with the aim of raising awareness among the public, as well as companies and commercial banks that deal with these banknotes on a daily basis.
It reviewed these improved security features through a technical bulletin, in which it indicated the introduction of prominent features on the new banknotes to enable the visually impaired to identify the banknote denominations by touch.
Battle Against Counterfeiters And Money Laundering
Mazhar Mohammed Salih, economic advisor to the Prime Minister, confirmed that Iraq’s decision to print a new currency is a natural decision that comes within the state’s efforts to protect its national currency and enhance its security.
Saleh explained that since the first issuance of the currency in 1934, Iraq has printed its currencies at the largest international printing companies, except for the period of the blockade when the country was forced to resort to local printing.
He pointed out that Iraq still relies on the largest international companies specialized in printing currencies, which are companies that enjoy a good reputation, high reliability and adhere to the highest international safety standards. He pointed out that this matter is of great importance to Iraqi economic security and global security in general.
He added that Iraq reprinted its currency after 2003 by the largest international companies, including British and German companies. He explained that reprinting the currency is a routine procedure that is carried out periodically to replace damaged papers and introduce new security improvements to the currency to protect citizens from counterfeiting and money laundering.
He stressed that these measures come within the framework of the state's keenness to protect citizens' economic rights and ensure the stability of the Iraqi economy. He pointed out that the Central Bank of Iraq is the only body authorized to issue currency in accordance with the law, and there is strict security control over the printing and circulation process to prevent the entry of counterfeit currencies into the country.
Saleh stressed that the cost of reprinting one currency is very simple, not exceeding cents, compared to its benefits, and that this procedure is an integral part of the policy of central banks around the world to maintain the stability of national currencies and protect national economies.
A Good Step.
Financial and banking researcher Mustafa Hantoush believes that the process of printing new currency to replace damaged ones or add to the market in exchange for real balances in international banks is a correct step.
Hantoush said that Iraq is continuing the process of printing local currency to be used in replacing the damaged currency that was originally issued or to be used in issuing a new currency for the first time in exchange for real balances in international banks, indicating that Iraq actually has an excellent balance of foreign currencies and gold and it balances them against any dinar that it prints and it is one of the best equivalents in the world.
He explained that the process of adding security signs to a new currency is a correct process and not a mistake; Iraq in any case needs a currency print to replace the damaged one, and if it has better security features, it is a good sign, especially since issuing the new currency, whether with new security signs or the same as the previous one, will be at the same cost, so there is no problem with it.
He stressed that the issue is not related to a radical change in the form of the currency, but rather it is the same currency but with better security specifications.
Iraqi parliament member Haitham Al-Zarkani stressed that the Central Bank’s talk about steps to issue a currency with security solidity is a commendable effort.
Al-Zarkani explained that any steps to make the Iraqi currency solid and globally accepted are of utmost importance, especially since the Iraqi currency is rarely used in neighboring countries due to the instability of exchange rates and the non-recognition of it by some Arab and European countries as a global currency.
Al-Zarkani attributed this weakness to cases of counterfeiting, noting that issuing a currency that takes into account security aspects and meets the needs of the visually impaired represents an important step on the security, humanitarian and economic levels at the same time, without wasting resources or diminishing the value of the Iraqi currency in global markets.
In 2018, the Central Bank of Iraq issued a second edition of banknotes in denominations (25,000, 10,000, 1,000, 500, 250), and in 2013, it introduced some technical and technological updates to the 2003 edition, except for the (50) dinar denomination, which was withdrawn from circulation in 2015.
At the end of 2015, it issued the (50,000) dinar denomination to complete the current series in circulation.
For his part, economic expert Safwan Qusay confirmed that the Central Bank is striving to make paper currency more secure and difficult to counterfeit and manipulate, by moving towards supporting the policy of financial inclusion and shifting to electronic transactions.
However, Qusay pointed out that the process of withdrawing and issuing money with a higher security force does not pose any risks, especially since the circulating monetary mass of 100 trillion dinars (about 76 billion dollars) is under the control of the Central Bank and there is no new issuance of the currency in a different form, but rather it is merely a replacement of the type of currency existing in the market.
Qusay added that this policy is followed in all countries of the world, as currencies require modern technologies to reduce the possibility of counterfeiting and forgery.
Regarding the Central Bank’s talk about using special inks to serve the visually impaired, the expert confirmed that there is a real interest in this category, and that the process of selecting international printing presses specialized in producing currencies is carried out with high precision to ensure their quality and safety, explaining that the process of caring for the visually impaired comes from the Central Bank’s keenness to meet the needs of all segments of society, and that this decision was not arbitrary, but rather came in response to a real need that the bank had identified in the market.
Qusay stressed that replacing or improving the quality of prints is in line with the Central Bank’s directives to all banks, and that this step will not affect citizens’ confidence in the currency in circulation, noting that the main focus currently is on achieving financial inclusion and enhancing the use of credit cards to ensure the speed and security of transactions and protect the local market from any external interference. LINK
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