Seeds of Wisdom RV and Economic Updates Thursday Afternoon 2-6-25

Good Afternoon Dinar Recaps,

BRICS: TRUMP SPARES INDIA AFTER THEY OFFICIALLY EMBRACE THE US DOLLAR

US President Donald Trump has spared BRICS member India from tariffs as they officially embraced the US dollar for trade. Trump imposed 25% tariffs on Mexico and Canada and ignited a global trade war. He also imposed 10% tariffs on China and could go further if they advance the de-dollarization agenda.

However, BRICS member India has been spared from tariffs as they spoke positively about using the US dollar for cross-border transactions. India’s Foreign Minister S. Jaishankar repeatedly said in multiple interviews that they do not support the de-dollarization initiative. He explained that India will settle trade in local currencies with other countries only when it fits the trade agreement.

Jaishankar also praised Trump and said that India has a good relationship with the new White House administration. “We’ve always said that India has never been for de-dollarization,” he said at various press conferences.

He made it clear that India will work closely with the US and will use the dollar for payment settlements. The Minister also revealed that India is not working towards the formation of a new BRICS currency and will not support bringing the US dollar down.

BRICS: India Plays It Safe By Supporting the US Dollar

The Reserve Bank of India (RBI) Governor Shaktikanta Das also pitched in saying that India does not support de-dollarization. “Nobody is talking about or thinking about de-dollarization. There is no step we have taken to de-dollarize,” said Das to Bloomberg. “De-dollarization is certainly not our objective and is not on the table. BRICS currency was an idea raised by one of the members and was discussed but no decision has been taken.”

All these statements made Trump spare BRICS member India as they fully support the US dollar’s prospects. India also needs the US dollar as its economy depends on America’s progress through Information Technology and other sectors. The US has invested heavily in India as backend offices and meddling with businesses could prove costly for the Modi government.

@ Newshounds News™

Source:  Watcher Guru

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CFTC ACTING CHAIR SAYS THE AGENCY IS ENDING REGULATION BY ENFORCEMENT

The commission will divide its enforcement responsibilities into two task forces focused mainly on “complex fraud” and retail fraud.

Caroline Pham, acting chair of the US Commodity Futures Trading Commission (CFTC), announced that the agency would be winding down its practice of regulation by enforcement, likely impacting its approach to crypto firms during the Trump administration.

In a Feb. 4 notice, Pham said the CFTC was restructuring the priorities for its Division of Enforcement to focus on fraud, suggesting that the move “will stop regulation by enforcement” against “good citizens.” 

The commission will divide its responsibilities into two task forces focused mainly on retail fraud and violations of the Commodity Exchange Act and “complex fraud and manipulation.”

“This taskforce realignment will enhance our vigorous and energetic enforcement program by empowering our talented staff to focus their expertise on matters that secure justice for victims and uphold public confidence in the integrity of our markets,” said acting enforcement director Brian Young.

The shift in the commission’s approach to enforcement was one of Pham’s first actions since becoming the CFTC acting chair on Jan. 20 following former chair Rostin Behnam’s stepping down. At the time of publication, it was unclear whom US President Donald Trump intended to nominate to fill Behnam’s seat at the CFTC once he leaves on Feb. 7.

@ Newshounds News™
Source:  CoinTelegraph

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This Trade War Might Be The Straw That Breaks The US Dollar’s Back.

This Trade War Might Be The Straw That Breaks The US Dollar’s Back.

Notes From the Field By James Hickman (Simon Black)  February 3, 2025

It was early spring in the year 1171 AD when Byzantine Emperor Manuel I Komnenos decided to go to war against his much smaller ally-- Venice. And the historical record shows that it was a really bad idea.

The Byzantine Empire was still a vast and powerful state by the late 12th century. But it was becoming obvious to anyone paying attention that they were in serious decline.

The Byzantine treasury was almost always empty. Imperial debt was piling up left and right. Byzantine borders were constantly being invaded by Muslim hordes. And the imperial coin-- the gold solidus-- was beginning to fall out of favor as the dominant currency for international trade.

Perhaps most importantly, there were a great deal of inexperienced or incompetent Emperors who stood by and did nothing while adversaries exploited imperial weakness.

One bright spot in Byzantine foreign relations was with the Republic of Venice; and over time the two cultivated a strong friendship, and enjoyed significant trade and military cooperation. When the Byzantine Empire went to war, for example, Venice would often provide naval and maritime logistics support.

Trade was so strong between the two, in fact, that thousands of Venetian merchants moved permanently to Constantinople.

But it all came to an end in March of 1171. The Emperor very suddenly changed his tune on Venice and started viewing them as rivals who were taking advantage.

To be fair, Venice was definitely a rising power at the time. But they were a pipsqueak compared to the size and strength of the Byzantine Empire… and the Venetians in no way wanted a conflict. They got one anyway.

That spring, Emperor Manuel imprisoned as many as 10,000 Venetians in Constantinople. He also confiscated their assets, properties, and businesses.

The ruler back in Venice (coincidentally known as “the Doge”) tried to negotiate a peaceful, diplomatic solution. But in the end, a war between the two broke out. And while direct military conflict was quite limited, the economic and trade warfare seriously wounded both powers.

In retrospect the long-term consequences were clear: the Byzantine Empire lost a supportive ally, essentially pushing Venice into the arms of Western European powers. The Empire also never quite recovered the lost trade and economic opportunity costs from the war.

That’s because all war-- whether a shooting war or trade war-- is expensive. There are very, very few instances in history in which a nation benefited from prolonged war. In fact, the last guy to consistently wage ‘profitable’ wars was Napoleon… and he understood the key was to end it as quickly as possible.

Maybe that’s the strategy in this new trade war today. Maybe the whole idea is to show people that you’re not afraid to make good on your threats… to show that you’re not bluffing… and that everyone should run to the negotiating table immediately.

Perhaps. But it’s been well-documented that a long-term trade war, i.e. tariffs on goods imported from Canada and Mexico, will be incredibly expensive. Canada sends energy to the US. Mexico sends food. If there are two things that US citizens don’t need to become more expensive, it’s food and fuel.

The rough calculations show that American households will pay a few thousand dollars per year more. Most people can’t afford that, nor are they particularly inclined to try.

The optimists say that America doesn’t need to import any of that stuff, and that “we can produce everything we need at home”.

OK, that’s sort of true. The US has the capability to produce almost everything if it really had to. But to borrow from the great philosopher Chris Rock, “You could drive with your feet if you really had to. But that don’t make it a good f***ng idea.”

Every country, every economy in the world has a finite amount of resources-- workers, raw materials, capital, land, etc. And in a free market, those finite resources are put to their best and highest use… because that’s what generates the most profit, i.e. the most wealth and prosperity.

No one puts resources to work making socks and underwear if they could put those same resources to work developing disruptive technology. And the US economy has that option-- producing goods and services of extremely high value (including technology).

This has been a key driver of wealth in America.

But suddenly having to divert limited resources to something less valuable consequently means… less wealth and prosperity. Bottom line, trying to produce everything at home requires misallocating economic resources into less profitable, less prosperous industries.

And the opportunity cost of doing that cannot be overstated.

There’s another, even bigger problem, though.

The US dollar is already in trouble. Plenty of countries have already started to line up against the dollar; and as we’ve discussed in the past, foreign central banks have started ditching the dollar to buy gold instead.

This is a big problem for the US government; the Treasury Department desperately needs foreigners to keep funding America’s massive budget deficits. And even if the budget deficits miraculously disappear, America still needs foreign nations to hold on to the US government bonds they already own.

Threatening (and then actually following through) with tariffs will only make foreign countries less inclined to own US dollars.

Secretary of State Marco Rubio even admitted this weekend that within five years, “there will be so many countries transacting in currencies other than the dollar that we won’t have the ability” to impose sanctions or tariffs.

Less demand from foreign governments and central banks to own US dollars ultimately means higher inflation and higher interest rates across the board-- including higher mortgage rates. So more expensive food. More expensive fuel. And more expensive housing.

Again, this trade war might be a ploy designed to force everyone to the negotiating table… and perhaps they expect it will be over in a matter of days or weeks. But that’s a risky assumption.

A century ago, the ‘experts’ back in 1914 assumed that World War I would be over in a few months, and that the troops would “be home before the leaves fall from the trees” (according to what Kaiser Wilhelm of Germany reportedly told his soldiers departing for the front line).

This, too, may be long and costly. But even if it's short, declaring war on your own ally could easily create lasting consequences for America by accelerating backlash against the dollar.

To your freedom,    James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/this-trade-war-might-be-the-straw-that-breaks-the-us-dollars-back-152034/

Smart Money and BRICS are Rushing into Gold

Smart Money and BRICS are Rushing into Gold

Wealthion:   2-6-2025

The global financial system may be teetering on the edge of a significant shift. Skyrocketing global debt, struggling central banks, and a seemingly paradoxical rise in gold prices, even amidst a strong dollar and elevated bond yields, are raising serious questions about the future of our economic stability.

Recently, financial expert Jonathan Wellum joined Trey Reik of Bristol Gold Group to dissect these complex issues, offering insights into why gold is outperforming its traditional role and what potential pitfalls lie ahead. Their analysis paints a picture of a system under pressure, ripe with opportunities and fraught with risks.

Historically, a strong dollar would typically dampen gold’s appeal. However, the current environment is witnessing a decoupling. Wellum and Reik argue that gold is no longer simply reacting to currency fluctuations, but is behaving as a haven asset reflecting dwindling confidence in fiat currencies themselves.

This “powering over” of gold suggests a growing distrust in the ability of governments to manage their fiscal responsibilities, leading investors to seek the perceived safety and stability of precious metals.

The United States’ national debt, currently exceeding $36 trillion, looms large over the global economy. This unsustainable level of debt is arguably distorting market dynamics and creating systemic risks. Wellum and Reik highlight how this debt burden necessitates continuous borrowing, leading to a cycle of increasing interest payments and further compounding the problem. This unsustainable trajectory is forcing investors to re-evaluate their strategies and consider alternative assets.

As concerns about the stability of the global financial system grow, sophisticated investors are increasingly turning to gold as a hedge against uncertainty. This shift in investment strategies signals a growing recognition that traditional asset classes may be vulnerable in the face of mounting debt and economic instability. The demand for gold as a safe haven is likely to intensify as these anxieties persist.

The conversation also addressed the potential for increased market volatility. With rising interest rates, persistent inflationary pressures, and the looming debt crisis, the stock market faces significant headwinds. Wellum and Reik suggested investors should prepare for a period of heightened uncertainty and potentially adjust their portfolios to mitigate downside risk. They emphasize the importance of understanding the interconnectedness of these factors and their potential impact on asset valuations.

Central bank credibility is also under scrutiny. The Federal Reserve’s handling of inflation and interest rate policy has faced criticism, leading to a decline in public trust. This erosion of trust in monetary policy further fuels the demand for alternative assets like gold, seen as a store of value independent of government control. The future role and effectiveness of central banks in managing economic stability are now being questioned.

The discussion also explored different ways to gain exposure to gold. While owning physical gold bullion offers direct protection against currency devaluation and systemic risk, investing in gold mining companies provides leverage to rising gold prices. Wellum and Reik debated the merits of each approach, highlighting the potential for higher returns in gold miners but also acknowledging the increased risk associated with individual company performance and operational challenges.

Finally, the impact of geopolitical tensions, particularly the potential for renewed trade wars under a Ttump administration, was discussed. The imposition of tariffs and other protectionist measures can disrupt global supply chains, increase inflation, and further destabilize the economic landscape, driving investors towards safe haven assets like gold.

These geopolitical uncertainties underscore the importance of diversifying portfolios and considering assets with inherent value independent of political maneuvering.

The analysis presented by Wellum and Reik paints a concerning, yet crucial, picture of the current financial system. They suggest that the confluence of factors – unsustainable debt levels, central bank challenges, and geopolitical instability – is creating an environment ripe for market volatility and potentially significant economic disruption.

While the future remains uncertain, the enduring appeal of gold as a safe haven asset serves as a potent signal, urging investors to carefully reassess their strategies and prepare for the potential for a significant shift in the global financial landscape.

https://youtu.be/acq20Cdzvgg

“Coffee With MarkZ” Thursday Morning Chat 2-6-2025

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 Mark, fabulous mods and everyone

Member: Ramadan begins Feb 28th. People there don't work during much at this time. If the RV doesn't happen by the time Ramadan begins, then the RV may not happen until afterwards, not during. Very important holiday

Member: then somebody better get busy and get it done.

Member: If Iraq truly cared about its citizens this would have already gone…imo

Member: Hoping for some good info from Mark about exchanges happening soon?

MZ: The contact I mentioned last night is indeed out west now. This is a first in years so I am very upbeat about that.

MZ: Bond side remains quiet but most of contacts told me it should be around the 10th to the 12th for them to get paid.

MZ: last night Mike Bara told you guys he knows someone who should have their fees sooner. Like in a day or two.

MZ: I have heard nothing on Prosperity projects or CMKX.

MZ: “Central Bank stimulating hoarded money in homes is one of the most important challenges of this stage “ This is what happened to us in the late 1920’d and 30’s. People hoarded cash and the system broke. Money was not moving and flowing through the system. They are trying to nurture the feeling of prosperity and abundance to draw in more prosperity and abundance to stimulate the general economy.

Member: They have been educating their people for the past few years. I thought they had brought in all their mattress dinars already.  Will this RV ever happen????

Member: if they change the rate the money would fly into the banks

Member: If back salaries are paid to Iraqi citizens by direct deposit only…when they see their money is safe maybe they will start to trust the banks?

MZ: That is exactly why the government is doing it this way.

MZ: “The President of the republic stresses to the Governor of the Central Bank the need to develop the services provided to the citizens” They want people to know they are making banking very secure

MZ: “Member of Parliament: Voting on amending the budget will solve part of Baghdad and Erbil’s differences”  They are saying when they voted last Sunday they solved most of the differences between Baghdad and Erbil….now they need to finish it up…..but they want you to know they have made great progress.

Member: Mark Z I personally think all these operations are done. And the stories are just coming out

MZ: I would not be surprised if some of them were done.

Member: Iraqi Bonds: first bond is worth 500,000 dinars @ 6%, the second bond is worth 1,000,000 dinars @ 7.5%, interest paid every 6 months"

Member: I wish we could buy them!

MZ: “Trump wants a sovereign wealth fund: Here is how other countries run theirs” Wealth funds are used in more than 90 other countries Including Saudi Arabia, Australia, Norway, China, Abu Dhabi, Singapore, Hong Kong ect….and .29 states in the United States already have Sovereign Wealth Funds…the strongest of which are Alaska, New Mexico and Texas. .

Member: My bank had an update on app to inform our and agree to digital transfer and movement transactions yesterday.

Member: A friend of mine who lives in Austin, TX said he asked his bank manager, was is a friend of his, if they were ready for the Revaluation. He said, "Yes, we are trained and ready to go!"

Member: Any news on the IRS closing or The Federal reserve going away ?

Member: Everybody is going to party like it’s 1776 when we finally see the end of the IRS

Member: Just hope it happens before April 15th.

Member: Hi Mark, when we finally get appts, how long do we have to exchange/redeem?

Member: Mark always said we get 10 days to set appointments and 30 days to exchange…..nothing changed to my knowledge

Member: Don't judge each day by the harvest you reap but by the seeds that you plant.

Member: A Rising Tide Lifts All Ships

​​Member: It may not appear that we ate winning, but WE are. Hold on, this is about to happen in an " And Suddenly" situation.

Member: Thanks to all…..everyone enjoy your day.

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

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

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

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

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

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

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

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

Youtube:     https://www.youtube.com/watch?v=0Gw7hDGqe3M

News, Rumors and Opinions Thursday 2-6-2025

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

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 6 Feb. 2025

Compiled Thurs. 6 Feb. 2025 12:01 am EST by Judy Byington

Judy Note: The Storm has arrived and Elon Musk’s DOGE Team edits of federal agency budgets.

DOGE also has plans to audit the IRS auditors. That should be interesting. The same people who are afraid of DOGE are the same who wanted to hire 80,000 new IRS agents to audit and harras taxpayers.

When the DOGE audits are combined with activation of the new Quantum Financial System (QFS), our US government as we know it was expected to shrink by 90-95%.

What We Think We Know as of Thurs. 6 Feb. 2025: (RUMORS)

Wed. 5 Feb. 2025 DOGE Audits: Treasury Secretary Scott Bessent just (allegedly) handed control of the federal payment system to Elon Musk’s DOGE team. This decision comes just two weeks after former Treasury Secretary Janet Yellen’s computer was (allegedly) breached, with unclassified files accessed—an attack blamed on “Chinese state-sponsored hackers.”

Wed. 5 Feb. 2025 DOGE Audits: Pelosi and Feinstein (allegedly) make millions off of land purchases using US Government Tax monies: (1) Sassafrass84 on X: “Doesn’t surprise me. https://t.co/dC8tT3nJ6P” / X

Wed. 5 Feb. 2025 DOGE Audits: Senators (allegedly) making in the hundred thousands reported 2024 income in the millions. The only way that could happen would be through kickbacks. The head of the US Treasury submitted his resignation when told that DOGE was there to perform a complete audit.

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Possible Timing:

In Aug. 2020 Trump (allegedly) rolled US Taxpayer dollars that had been going to the Federal Reserve since 1918, into the new US Treasury near Reno Nevada. The Federal Reserve – a privately owned family bank of the Rothschilds – (allegedly) had control of US Taxpayer dollars and was charging the US Government interest to use it.

On August 19, 2024, the Emergency Broadcast System (EBS) was (allegedly) activated in 100 cities across the United States. …The 17th Letter (JFK Jr.) on Telegram

On Wed. 15 Jan 2025 Trump(allegedly)  signed the classified “Gold Directive,” the Cabal’s hidden vaults having been seized. Their gold, stolen for centuries, was now being returned to The People through the QFS.

On Mon. 20 Jan. 2025 when Trump took office, the privately owned Federal Reserve and IRS were c(allegedly) onsidered legally defunct. …Carolyn Bessette Kennedy on Telegram

On Wed. 29 Jan. 2025 an Open Letter was (allegedly) published addressed to President Donald Trump and the US Congress asking them to recognize the Sovereign Nation of the Kingdom of Hawaii. There was 170,000 metric tons of Gold sitting in the Bank of Hawaii that cannot be used by any government entity until the Kingdom Nation is returned properly to The People. The request was accompanied by a plea to help the over 3,000 victims of the 2023 Kula and Lahaina Maui Hawaii Fires who remain homeless, many living on beaches since 2023. (Signed) Sir Don Kauli’a, Sovereign Regent, Kingdom of the Hawaiian Islands

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. 2025 the Quantum Financial System (allegedly) Activated Worldwide. Over $100 Trillion (allegedly) held in the Five Star Trust was authorized to be released to the new US Treasury (and back to The People). …Carolyn Bessette Kennedy on Telegram

Wed. 5 Feb. 2025 according to Bruce Tier4a,b (Us, the Internet Group) will be (allegedly) notified by email of how to set redemption appointments, with those appointments beginning Wed. or Thurs. 6 Feb. 2025.

Sun. 9 Feb. 2025 the QFS becomes fully operational with intense military operations. …JFK Jr. on Telegram

In Aug. 2025 the U.S. Treasury will (allegedly) send out a computer algorithm to each bank to zero debt balances in a Debt Jubilee. The banks will then zero out all mortgage debt, credit card debt, car debt, etc. Citizens (allegedly) do not have to contact their debtor to ask for the Debt Jubilee. Watch for your new zero balance statement coming out sometime in August. …JFK Awakening on Telegram

By year’s end, over 700 Med Bed Centers were (allegedly) said to be fully operational worldwide. …JFK Jr. on Telegram

Read full post here:  https://dinarchronicles.com/2025/02/06/restored-republic-via-a-gcr-update-as-of-february-6-2025/

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

Frank26   Even if the budget comes out at the old rate, don't panic.  Sudani knows what he's doing.  The  longer he can hide this form parliament the better...All the information about the new exchange rate has not been released yet, but within...13 days this budget will expose itself.  It has no choice...This budget has no choice but to show its true colors in order for it to come to life...A new exchange rate cannot wait much longer..

Militia Man  I think we all know the United States is sitting on a very large stack of Iraqi dinar.  Probably many other currencies as well because if we know about it they know about it.  If we can figure it out, they probably have.  They're one step ahead of us.  That's a good thing because if this is a benefit for the United States of America and if it's a benefit for Iraq and if it's a benefit for other Middle Eastern countries...let's get going.

Trump’s New Sovereign Wealth Fund Explained

Heresy Financial:  2-6-2025

TIMECODES

 00:00 Trump signs executive order for a U.S. sovereign wealth fund

00:32 The risks of a government-controlled investment fund

 01:07 How sovereign wealth funds breed fraud and corruption

 02:37 Why politicians have no skin in the game with public funds

03:24 The dangers of unlimited government-controlled capital

05:24 Historical lessons from the Mississippi Bubble

 07:00 Could the U.S. sovereign wealth fund trigger hyperinflation?

08:48 The potential benefits of a sovereign wealth fund

10:05 The role of U.S. gold reserves in funding the program

 12:14 Challenges in funding and implementing the sovereign wealth fund

13:17 Political greed and the risk of mismanagement

13:49 The final cost: Who really pays for this?

 14:11 Should the government control wealth, or should you?

https://www.youtube.com/watch?v=B_ZqSv-WuIs

Iraq Economic News and Points to Ponder Late Wednesday Evening 2-5-25

The Ministry Of Planning Discusses With The World Bank The Preparation Of A Roadmap For Building Human Capital In Iraq

Wednesday 05 February 2025 | Economic Number of readings: 150    Baghdad / NINA / The Ministry of Planning held a joint meeting with the World Bank on Wednesday, during which they discussed joint cooperation in the field of preparing a roadmap for building human capital in Iraq.

A statement by the ministry stated that "Undersecretary of the Ministry Maher Hammad Johan headed the Iraqi side, while the World Bank team was headed by the Regional Director for Human Development in the Middle East and North Africa, Fadia Saada.

Johan explained: "The importance of the human capital building project comes from its contribution to achieving development goals," stressing Iraq's endeavor to harness efforts towards improving investment in human capital, keeping pace with global trends, and responding to local needs for human development,

in addition to identifying investment priorities and directing them towards making fundamental changes at the level of policies, plans, programs and all government interventions, and in effective partnerships with the international community, the local community and the private sector," calling for more cooperation with the World Bank in this field.

For her part, the Regional Director for Human Development in the Middle East and North Africa, Fadia Saadeh, said: “Investing in human capital is essential for the future of the country, and Iraq has the ability to harness its young population as an engine of economic growth,” indicating: “Bridging the service delivery gaps is in education and health care, expanding access to social protection, and creating job opportunities, especially for women and youth.”

She added: “If reforms are implemented effectively, Iraq can transform its current challenges into opportunities, and ensure a more equitable and prosperous future for all its citizens.”

The meeting witnessed the presentation of three presentations, the first of which was on the priorities and programs of the National Development Plan (2024-2028), presented by the Director General of the Department of Economic and Financial Policies, Sabah Jundi Mansour, the second presentation was on the recommendations of the first national conference on human capital in Iraq, and the next steps, presented by the Director General of Human Development, Dr. Maha Abdul Karim Al-Rawi, and the last presentation was from the World Bank team on the future outlook for human capital projects in Iraq. /End8    https://ninanews.com/Website/News/Details?key=1183964

Finance Minister To Parliamentary Delegation: The Ministry Is Committed To Implementing Reforms To Boost Non-Oil Revenues

Wednesday 05 February 2025 | Economic Number of readings: 23   Baghdad / NINA / Minister of Finance Taif Sami affirmed the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability.

A statement by the Ministry of Finance stated: "Minister Taif Sami received, today, Wednesday, at the ministry's headquarters, a number of members of the Council of Representatives, and during the meeting, their requests and those of citizens were listened to,

 in addition to discussing the mechanisms for implementing the general budget, following up on the allocations of service and development projects, in addition to discussing ways to support productive sectors and provide the necessary resources to improve the level of services provided to citizens."

The minister affirmed, according to the statement, the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability in accordance with approved government programs.

The representatives praised the ministry's efforts in managing the financial file, and stressed the importance of enhancing joint cooperation to ensure the achievement of economic goals.

The parliamentary delegation included the following MPs: Manal Al-Maslamawi, Rafiq Al-Salihi, Luqman Al-Rashidi, Mudhar Al-Karawi, Hassan Al-Masoudi, Fatima Al-Hawi, Ala Al-Nashi, Sarah Al-Dulaimi, Mona Al-Jubouri, Faisal Al-Naili, Wafaa Al-Shammari, Suhaila Al-Sultani, Mustafa Al-Karawi, Amal Al-Nasiri, Osama Al-Badri, Ahmed Rashid Salmani, Basem Nghamish Al-Gharbawi, Mahasin Al-Dulaimi, and Hassan Al-Asadi. / End   https://ninanews.com/Website/News/Details?key=1184007

Finance On Restructuring Of Rafidain, Rashid And Insurance Companies: A Fundamental Step

Banks   Economy News – Baghdad   Today, Wednesday, Finance Minister Taif Sami discussed following up on the procedures for restructuring Rafidain and Rashid Banks and insurance companies.

The ministry said in a statement that "Sami held an expanded meeting with the head of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and oversight firm Ernst & Young, to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks."

According to the statement, Sami pointed out that "the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards," noting "the importance of developing banking systems, enhancing internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services."

Sami added, "The strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization processes, which will raise the efficiency of government banks and support the national economy."

The Prime Minister's Office announced yesterday, Tuesday, the launch of an initiative to reform the banking system, in cooperation with the Central Bank of Iraq, consisting of 4 main points, and it comes in partnership with the global management consulting company (Oliver Wyman). https://economy-news.net/content.php?id=52540

Dollar Prices In Iraq Fall: 151 Thousand "Per Paper"
Economy | 05/02/2025   Mawazine News – Baghdad  Mawazine News publishes today, Wednesday, the exchange rates of the dollar against the Iraqi dinar in local markets. - Selling 151,000 dinars for 100 dollars - Buying 149,000 dinars for 100 dollars. https://www.mawazin.net/Details.aspx?jimare=259379

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-6-25

Good Morning Dinar Recaps,

CFTC’S PHAM SEEKS ‘COMMON-SENSE’ REGULATION OF PREDICTION MARKETS IN NEW ROUNDTABLE

▪️The CFTC will hold a public forum to discuss prediction markets, though it did not name any specific marketplace in its announcement.

▪️CFTC Acting Chair Pham said past years of anti-innovation policies have restricted “common-sense” regulations of prediction markets.

The Commodity Futures Trading Commission announced Wednesday that it will hold a public roundtable to examine prediction markets, where its acting chair Caroline D. Pham expressed the need for more clarity in regulating such platforms.

“Unfortunately, the undue delay and anti-innovation policies of the past several years have severely restricted the CFTC’s ability to pivot to common-sense regulation of prediction markets,” said CFTC Acting Chairman Caroline D. Pham.

Pham said prediction markets are an “important new frontier” that can bring truth to the information age by utilizing the power of markets.

“The current Commission interpretations regarding event contracts are a sinkhole of legal uncertainty and an inappropriate constraint on the new administration,” Pham said.

Last year, the commission requested a district court to review a previous ruling in Kalshi’s favor in an attempt to block U.S. election bets on the prediction market. The two have been in a legal dispute since 2023 over the offerings of event contracts linked to congressional matters.

Earlier this week, it was reported that the CFTC was questioning prediction market Kalshi and Singapore-based crypto exchange Crypto.com over whether their derivatives-based Super Bowl sports events contracts were compliant.

“CFTC must break with its past hostility to innovation and take a forward-looking approach to the possibilities of the future,” Pham stated.

The roundtable

The public roundtable is a necessary first step in establishing a comprehensive regulatory framework for prediction markets, Pham said, as the new framework aims to promote the platforms while protecting users from deceptive market practices.

The forum will tackle several key roadblocks in establishing the framework, including past CFTC decisions, court orders and enforcement actions, and interpretations of event contracts on prediction markets in general.

“Participants will include a wide variety of experts and stakeholders representing numerous and diverse interests in these issues,” the statement said.

However, the release did not mention names of prediction markets that would be discussed at the public roundtable.

The roundtable is scheduled to be held at the CFTC headquarters in Washington, D.C., with further details on the event yet to be announced.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

RIPPLE EXPANDS US WORKFORCE BY 75% AFTER ELECTIONS: IS THE SEC LAWSUIT ENDING SOON?

Ripple’s CLO, Stuart Alderoty, recently shared his thoughts on the new U.S. administration’s approach to cryptocurrency.  In an interview with CNBC, Alderoty expressed his satisfaction with the changes brought about by the new administration.

He explained that the previous administration had essentially waged a “war” on crypto, pushing the industry out of the U.S. in favor of restrictive policies. However, since the inauguration, Alderoty praised the new administration for embracing cryptocurrency and clearing obstacles that had been stifling innovation.

Ripple’s Onshore Hiring Surge Amid SEC Case

Alderoty revealed that Ripple, which has been based in the U.S. for over 12 years, is benefiting from these shifts. He said that following the election, 75% of Ripple’s hiring efforts, which were previously offshore, are now being brought back onshore in the U.S. 

The company is eager to build and expand its operations domestically, with the belief that the U.S. can once again become the global leader in cryptocurrency technology.

These changes come amid the ongoing SEC case, which has been dragging on for four years. The updates have left many wondering if the case might be coming to an end soon.

Ripple’s Response to U.S. Crypto Reform

When discussing U.S. crypto reform, Alderoty outlined three major forces shaping the landscape: President Trump’s executive order, changes in federal regulation, and legislative action from Congress. 

He stressed the importance of the executive order, which reaffirms the U.S.’s goal of becoming the “crypto capital of the world.” The order has sparked a series of positive regulatory developments, including the appointment of David Sachs as the “crypto czar,” who is leading a task force to review and update crypto regulations.

Additionally, Alderoty praised the actions of the SEC’s acting chair, Mark Uyeda, who recently acknowledged the regulatory confusion of the past few years. Alderoty is optimistic that these changes will make it easier for banks to engage with crypto, further positioning the U.S. as a favorable environment for crypto innovation.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

RIPPLE’S RLUSD TOKEN SECURES MAJOR LISTINGS

The Ripple USD (RLUSD) stablecoin has secured several new listings, according to a Wednesday announcement.  

The much-hyped stablecoin is now available for trading on Revolut and Zero Hash. These recent additions are likely to result in substantially broader RLUSD adoption.

London-based fintech firm Revolut boasts more than 50 million customers across the globe. Last September, it was reported that the company planned to launch its own stablecoin. In November, it also obtained the approval to expand its services across the EU after securing a banking license in the UK.

Zero Hash is a prominent cryptocurrency infrastructure platform. With the addition of RLUSD, the platform now supports five stablecoins across various chains.

RLUSD is, of course, available on both Ethereum and the XRP Ledger, and the stablecoin is expected to add more platforms in the future.  The Zero Hash integration is significant for the RLUSD since it means that Ripple's stablecoin is now part of the stablecoin engine that is powering various fintech firms in the realm of payments (remittances, payouts, AI agents) and trading.

Zero Hash CEO Edward Woodford says that the listing of Ripple's RLUSD token shows that the company is committed to offering its customers the most "innovative and regulated" stablecoin products.  

As reported by U.Today, the Ripple stablecoin recently surpassed $100 million in market capitalization.  

The token was also recently listed on Bitstamp, one of the oldest cryptocurrency exchanges.  

According to CoinGecko, the market cap of RLUSD currently stands at $108 million.

@ Newshounds News™
Source:  U Today

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 2-6-2025

TNT:

Tishwash:  Al-Sudani, Russian envoy discuss bilateral cooperation and stability

Iraq’s Prime Minister Mohammed Shia Al-Sudani met Wednesday with Mikhail Bogdanov, Russian President Vladimir Putin’s special representative to the Middle East and North Africa, to discuss bilateral relations and ways to enhance cooperation across multiple sectors, according to a statement from Al-Sudani’s media office.

The discussions also addressed regional and international developments, focusing on “efforts aimed at strengthening stability in the region.” The prime minister reaffirmed Iraq’s commitment to “fostering stronger ties between Iraq and Russia.”

The meeting follows earlier talks in Baghdad between Iraqi Speaker of Parliament Mahmoud Al-Mashhadani and a Russian delegation led by Bogdanov,

Statement from PM Al-Sudani’s media office:

Prime Minister Mohammed S. Al-Sudani met today, Wednesday, the Special Envoy of the President of the Russian Federation to the Middle East and North Africa, Mr. Mikhail Bogdanov. The meeting focused on bilateral relations between Iraq and Russia and explored ways to enhance cooperation across various fields.

The discussions also covered regional and international developments and efforts aimed at strengthening stability in the region. Prime Minister Al-Sudani expressed his initial approval to participate in the upcoming Arab-Russian Summit to be hosted by the Russian Federation, recognizing its importance in advancing mutual interests.

The Prime Minister reiterated the government’s commitment to fostering stronger ties between Iraq and Russia and expanding avenues of cooperation in multiple sectors. He also emphasized the need to enhance collaboration on the Development Road project and Russian initiatives concerning transit routes to ensure shared benefits and the growth of common interests.

For his part, Mr. Bogdanov conveyed the greetings of Russian President Vladimir Putin to Prime Minister Al-Sudani and reaffirmed his government’s keenness to activate bilateral memoranda of understanding. He also confirmed Russia’s readiness for the upcoming tenth meeting of the Iraqi-Russian Joint Committee, which will oversee the implementation of agreements and memoranda of understanding between the two nations.

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Tishwash:  Participants to Al-Sabah: Baghdad International Fair is a golden opportunity for economic cooperation

Participants in the Baghdad International Fair considered it a “golden opportunity” that could be a supportive starting point for the sustainable development process that the country is witnessing.

The 48th edition of the exhibition this year is witnessing a wide turnout from citizens, investors and businessmen, due to the quality of companies and products displayed locally and internationally.

Industrial investments

The official of the Ministry of Industry wing, Mohammed Qasim, told Al-Sabah: “Iraq is heading towards localizing its national industry, as well as bringing in global industries through investment within the country,” noting that “this matter requires the creation of an ideal work environment that is in harmony with the requirements of industrial investment and actually contributes to turning the wheel of industrial production.”

Industrial cities

Qasim stressed that “industrial cities are considered a trend that can contribute to localizing industry in Iraq, as these cities will provide all the requirements of the Iraqi and foreign industrialist, especially since the path of development has recalculated the calculations of many companies that can transfer their industries to Iraq and launch from it to various markets of the world.”

He pointed out that "the exhibition is an important opportunity to communicate with Arab and foreign participants who came with a real desire to be present in local markets, especially since Iraq has become the focus of attention of major international companies."

Golden opportunity

Baghdad Chamber of Commerce Advisor Wahbi Al-Khafaf told Al-Sabah: “The Chamber views the exhibition as a golden opportunity that can be used to serve the Iraqi economy, which needs combined local and international efforts to move its wheel.”

Available opportunities

Al-Khafaf pointed out that “the companies present at the exhibition have a great desire to work inside Iraq, which is considered a “promising market” that can benefit those who work inside it and invest in the available opportunities in all production and service sectors.”

 He also pointed out that “the companies that have come with new goods know that the Iraqi market is large and can accommodate regional and international presence, and some are thinking of localizing their industry within the country.”

More space

As for the representative of the Iraqi Iron Company, he explained to “Al-Sabah”, “The exhibition gave the company a larger space to communicate with the companies participating in the exhibition, especially construction and reconstruction companies and contracting companies that implement major projects that require huge quantities of iron to create concrete blocks.”

He stressed that "the national product is manufactured according to international specifications and competes with the best of its global counterparts." 

Local companies

He pointed out that “the exhibition represents an important opportunity, as it saved us a lot of effort and time in reaching this number of local and international companies.”

He pointed out that “the citizen provided an opportunity to communicate with citizens who learned about the nature of the company’s products, selling prices, and product efficiency, as the exhibition is a free opportunity for dissemination.”

Renew participation

A representative of the Pakistani company GFC, which specializes in electrical appliances, confirmed to Al-Sabah that the exhibition is important.

He pointed out that “the Iraqi citizen’s interest in the pavilion created a desire to renew participation in all exhibitions organized inside Iraq, especially since the Iraqi market is vast, and we can be present in all cities.”

Second package

In turn, the representative of the Ministry of Construction and Housing, Aram Majeed, told Al-Sabah, “The presence of the ministry’s team inside the Baghdad International Fair comes to reflect the ministry’s achievements during the past year, the projects that have been implemented and those under implementation, and the projects of the second package that will be launched soon, and includes a number of important projects, including the bridge that connects the Kadhimiya area with the Al-Krayat area.”

Economic cooperation

As for the financial affairs specialist, Athir Abdul Baqi, he said about the exhibition: “The banking sector is an important axis for any economic cooperation between Iraq and the countries of the world, and through our movement inside the exhibition, we noticed the presence of international companies inside the banks’ pavilions and inquired about the nature of the products offered, and how the money movement is going.”

Development plans

He pointed out to “Al-Sabah” that “most delegations stop at the issue or the joint of the development plans for the performance of the banking system, and where it stands among the services provided regionally and internationally, as companies look forward to entering into various businesses within Iraq and studying the reality of the financial sector and the services provided by the banking system.”

(1250) companies of various specializations representing 22 Arab and foreign countries are participating in the 48th session of the Baghdad International Fair.

Economic growth

Economic expert Aqil Al-Hamad told Al-Sabah: “Trade fairs generally represent a facade that indicates the extent of the country’s economic and urban growth.”

He added, "The Baghdad Exhibition is important for international companies, especially since the volume of turnout is large from foreign investors, and it has become a real proof of Iraq's economic importance."

Industrial reality

He explained that “exhibitions work to create solid partnerships between the private sector and foreign companies, and this in itself is an important factor that can improve the nature of the industrial and development reality, in addition to its role in providing many job opportunities and meeting the market’s needs for solid local products. In order to achieve the maximum possible degree of benefit, government agencies must hold more meetings with Iraqi economic organizations to learn about the nature of the exhibitions that should be held.”

Meanwhile, the Ministry of Trade stated that “its formations participated in the 48th session of the Baghdad International Fair, with special pavilions within the framework of enhancing economic cooperation and cultural exchange.

She explained in a statement received by “Al-Sabah” that “the companies’ participation came to highlight their activities and announce and promote their investment projects, which reflect the government’s commitment to enhancing sustainable development and supporting innovation in various fields.”

She pointed out that “the exhibition is an ideal platform for communication between companies and investors, and reflects Iraq’s ability to host major international events that enhance its economic position in the region, as it included a wide range of local and international companies displaying their latest products and services,” indicating that “the pavilions of the ministry’s formations witnessed a great turnout from visitors, and a comprehensive presentation was given on the projects and programs implemented by the ministry’s companies in various sectors.”

The Ministry also invited visitors, whether officials, business owners or citizens, to visit its companies’ pavilions and learn about future projects and initiatives aimed at strengthening the national economy. link

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

Tishwash:  Sami meets with Ernst & Young to restructure banks: Strategy includes electronic payment

Finance Minister Taif Sami said on Wednesday, February 5, 2025, that the strategic plan to restructure banks includes introducing “modern technologies” such as electronic payment.

Meeting to follow up on the restructuring procedures of Rafidain and Rashid Banks and insurance companies 

According to a statement seen by "Ultra Iraq", Finance Minister Taif Sami held "an expanded meeting with the head of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and oversight company (Ernst & Young) to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks."

Sami pointed out that "the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards," stressing "the importance of developing banking systems, enhancing internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services."

The Minister explained that "the strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization operations, which will raise the efficiency of government banks and support the national economy." link

Mot: The insight - ole ""Mot"" Brings Ya - is Simply AMAZING!! – LOL

.Mot: .. Ya Know!! -- Just Saying ~~~~

MilitiaMan & Crew Iraq Dinar News-Commitment Judicial Decisions-Central Bank of Iraq-French Ambassador-Paris Club

MilitiaMan & Crew Iraq Dinar News-Commitment Judicial Decisions-Central Bank of Iraq-French Ambassador-Paris Club

2-5-2025

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=u5WHzyLUMJ8

Iraq Economic News and Points to Ponder Wednesday Evening 2-5-25

Finance Launches Bonds Worth Two Trillion Dinars To Boost Investment And Provide Savings

Money and business  Economy News – Baghdad  The Ministry of Finance announced today, Wednesday, the launch of national bonds (first issue) for public subscription, with a total value of two trillion Iraqi dinars, for the period from February 10 to March 10, 2025.

The ministry said in a statement that the issuance of these bonds comes "as part of its plan to enhance local investment and provide savings tools for citizens and investors."

According to the statement, the bonds are divided into two categories: The first bond is worth 500,000 dinars with an annual interest of 6%, and is due after two years, with interest paid every six months. The second bond is worth 1,000,000 dinars with an annual interest of 7.5%, and is due after four years, with interest paid every six months.

The statement indicated that the bonds are tradable on the Iraqi Stock Exchange, which provides a distinct investment opportunity for citizens and companies looking for stable financial instruments.

The bond offering comes based on Article 77 of the Federal General Budget Law No. (13) for the years 2023, 2024, and 2025, with the aim of supporting the national economy and enhancing confidence in the Iraqi financial system, according to the Finance Ministry statement. https://economy-news.net/content.php?id=52539

Parliamentary Finance Committee Discusses With US Delegation The File Of Contracts Of Foreign Oil Companies Operating In Kurdistan

Energy  Economy News – Baghdad  On Wednesday, the Finance Committee of the House of Representatives discussed with an American delegation the file of contracts of foreign oil companies operating in the Kurdistan Region of Iraq.

The media office of the head of the committee said in a statement, seen by "Al-Eqtisad News", that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the US Embassy headed by Julie Jones, the economic advisor to the embassy, ​​and Chris Torres, advisor to the Iraqi Council of Representatives file in the political department."

The statement added that "the meeting discussed the details of amending Article 12 of the Federal General Budget Law related to oil production and export, in addition to the financial challenges facing the country and preparations for preparing and approving the 2025 budget schedules."

He continued, "The meeting discussed the file of contracts of foreign oil companies operating in the region, and some details related to oil production and export, within the framework of amending the general budget law that the Council of Representatives recently voted on, as a first step to resolve the oil disputes between Baghdad and Erbil and in line with the Iraqi constitution."

Al-Atwani stressed, according to the statement, "the necessity for the region to commit to paying its financial dues to the central government in exchange for receiving its entitlements, including employee salaries and project financing, to end financial disputes," renewing the Finance Committee's keenness to "end all disputes and stop oil smuggling; due to its negative impact on the country's financial stability."

The statement explained that "the meeting witnessed a discussion of the timing of approving the budget schedules for the year 2025; with the aim of launching projects according to the specified timetable, with an emphasis on increasing non-oil revenues, reducing spending on non-essential projects, investing in service and educational projects, and supporting the private sector."
https://economy-news.net/content.php?id=52551

IEA: Iraq Has 600,000 Barrels Of Oil Surplus Per Day

Energy   Economy News – Baghdad  The International Energy Agency revealed, on Wednesday, that Iraq has surplus capacity estimated at 600,000 barrels per day.

The agency stated, in a report reviewed by "Al-Eqtisad News", that "the total spare capacity of OPEC amounts to about 5.3 million barrels per day, including 3.1 million barrels per day in the Kingdom of Saudi Arabia, 1.1 million barrels per day in the United Arab Emirates, 600 thousand barrels per day in Iraq, and 400 thousand barrels per day in Kuwait."

The report added, "This total surplus is equivalent to about 5.1% of global oil demand, which the International Energy Agency expects to average about 104 million barrels per day in 2025."

A few days ago, OPEC+, which includes OPEC, Russia and their allies, made production cuts, reducing output by about 6 million barrels per day in a series of steps since 2022 to support the market.

OPEC has reserves of oil called idle production that can be used in times of war or natural disasters.
https://economy-news.net/content.php?id=52533

Oil Prices Stabilize During Early Wednesday Trading

Economy | 05/02/2025   Mawazine News – Baghdad    Oil prices steadied in early trade on Wednesday after volatile trading in the previous session as investors shrugged off the impact of Chinese tariffs on U.S. energy imports, although President Donald Trump's renewed push to crack down on Iranian crude exports provided some support.

Markets move Brent crude futures were down 18 cents, or 0.24 percent, at $76.02 a barrel by 0210 GMT. US West Texas Intermediate crude lost 9 cents, or 0.12 percent, to $72.61, according to Reuters data.

WTI at one point fell 3 percent on Monday, its lowest since Dec. 31, after China announced tariffs on US imports of oil, liquefied natural gas and coal in retaliation for US tariffs on Chinese exports.

But prices rebounded after Trump reimposed his first-term “maximum pressure” campaign on Iran to curb its nuclear program, which has reduced Iranian crude exports to zero.

Analysts at Goldman Sachs said in a note on Tuesday that the impact of China’s retaliatory tariffs on energy prices would be limited “given that global supply and demand for these commodities will not be impacted by the Chinese tariffs.”

They added that both countries would be able to find alternative markets. Prices were also pressured by rising crude and fuel inventories in the United States, the world’s biggest oil consumer.

The American Petroleum Institute showed crude inventories rose by 5.03 million barrels in the week to Feb. 1. Ending January 31. It reported that gasoline stocks increased by 5.43 million barrels, and distillate stocks decreased by 6.98 million barrels. The official US government oil inventory data is scheduled to be issued on Wednesday evening.   https://www.mawazin.net/Details.aspx?jimare=259375

BP Intends To Invest In The Oil Sector In Iraq

Economy |  05/02/2025   Mawazine News – Baghdad  Reuters quoted a senior Iraqi oil official as saying that oil giant BP is expected to spend up to $25 billion over the life of a project to redevelop four oil fields in Kirkuk at a time when Baghdad is seeking to regain foreign investment.

If the deal is signed, a move the official expects to happen in the coming weeks, it would mark a major achievement for Iraq after years of production constrained by war. Iraq is OPEC’s second-largest oil producer after Saudi Arabia, with an average output of more than 4 million barrels per day.

BP will invest $20 billion to $25 billion under a profit-sharing agreement that will last for more than 25 years, the official said.

BP declined to comment on the Reuters report, but pointed to a statement last month saying BP and the Iraqi government had made significant progress toward reaching an agreement to support the operator of several Kirkuk oilfields in an integrated redevelopment project.

The potential BP deal would be the second major deal between Iraq and an international oil company in two years, following a deal in Basra with Total Energies, which was valued at around $27 billion.

BP’s deal would focus on rehabilitating facilities at four oilfields and developing natural gas to support Iraq’s domestic energy needs. The official said technical and economic negotiations were ongoing.

The deal is well underway, and final contracts could be signed in the first half of February, possibly by the end of this week.

The official said the deal would allow BP to increase crude oil production capacity from the four Kirkuk fields by 150,000 barrels per day, bringing total capacity to at least 450,000 barrels per day in two to three years. Current production is 300,000 barrels per day, according to three officials from the state-run National Oil Company. A profit-sharing model is under discussion that would allow BP to recover costs and start making a profit once production increases from current levels, the oil official said.

 BP has a 50 percent stake in a joint venture that operates the giant Rumaila oil field in the south of the country, where it has been operating for a century.   https://www.mawazin.net/Details.aspx?jimare=259381

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 2-5-25

Good Evening Dinar Recaps,

FDIC RELEASES DOCUMENTS RELATED TO CRYPTO DEBANKING

The Federal Deposit Insurance Corporation has released more than 100 documents related to the highly criticized and controversial “debanking” of crypto companies and individuals.

In a press release on Feb. 5, the FDIC stated that the 175 documents pertain to the agency’s supervision of banks that “engaged in, or sought to engage in, crypto-related activities.”

The report was released on the same day the U.S. Senate Banking Committee began its hearing on the impact of debanking in the country. It also follows a court order that set the deadline for their release as Friday, Feb. 7.

Crypto debanking, often referred to as Chokepoint 2.0, has been a contentious issue in recent months, with the FDIC and the U.S. Securities and Exchange Commission facing criticism from various industry stakeholders.

FDIC acting chairman Travis Hill commented:

“I have been critical in the past of the FDIC’s approach to crypto assets and blockchain. As I said last March, the FDIC’s approach ‘has contributed to a general perception that the agency was closed for business if institutions are interested in anything related to blockchain or distributed ledger technology.”

The released documents include correspondence with 24 financial institutions regarding their involvement or interest in crypto-related activities.

The records reveal that the FDIC largely resisted engagement, frequently requesting additional information, delaying responses for months, and issuing directives instructing banks to pause, suspend, or entirely avoid crypto-related activities.

The crypto debanking hearings will no doubt reveal a lot more, but commentary from notable industry advocates commend the FDIC’s decision to release the documents. It includes Senator Cynthia Lummis, who observed via a post on X:

“I am thrilled the FDIC acted swiftly & efficiently to release these documents. I want to thank Chairman Hill and POTUS for your commitment to government transparency! We are putting an END to Chokepoint 2.0.”

FDIC acting chair Hill has stated that the agency is reevaluating its approach. Key measures moving forward include replacing its Financial Institution Letter (FIL) 16-2022and creating a clearer framework for banks to participate in the crypto sector. The FDIC will also collaborate with President Trump’s working group on digital assets to establish new guidelines.

@ Newshounds News™

Source:  CryptoNews

Also read:  https://coinpedia.org/news/fdic-set-to-revise-guidelines-allowing-banks-to-engage-in-crypto-activities/

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HOW TRUMP'S TRADE WAR IS AFFECTING BITCOIN AND GOLD

Gold and Bitcoin have previously moved together as "safe haven" assets. But that isn't the case with President Donald Trump back in action.

Bitcoin or gold?  Or Bitcoin and gold? Investors are weighing where to put their money in times of uncertainty—and no time is more uncertain than now.

President Donald Trump’s tariffs—or threats of tariffs—have rocked markets, making “risk-on” assets like crypto less appealing.

The price of gold hit a new high Monday, while Bitcoin dropped below $93,000, down about 14% from its all-time high price set on January 20. Bitcoin's correlation to the precious metal is down significantly as investors flock to more traditional safe haven assets, experts told Decrypt.

Bitcoin proponents have long claimed that the cryptocurrency’s unique selling point is that it’s a long-term store of value—like gold. And sometimes, they are correlated: The two assets have moved in tandem in the past, when investors have flocked to a strong dollar.

But things are up in the air now that President Donald Trump has taken office and issued a flurry of dramatic orders, and Bitcoin’s 90-day correlation with gold has remained close to zero, data provider Kaiko told Decrypt.

Case in point: The new commander in chief implemented tariffs against Canada, Mexico, and China on Saturday, causing crypto prices to drop sharply.

After having a “friendly conversation” with Mexican President Claudia Sheinbaum two days later, he decided to pause tariffs—leading to a rebound in Bitcoin’s price. Meanwhile, gold soared. Trump later agreed to a similar pause with Canada as the two countries attempt to work out a deal, while tariffs against China ultimately did go into effect.

“The trade war could decouple the correlation in the short term as gold is a more established ‘safe haven’ asset, while Bitcoin—although often seen as a safe haven—is currently owned by a large investor base also trading highly speculative risk-asset meme coins and tech stocks,” Amberdata’s director of derivatives Greg Magadini told Decrypt.

The reason for the decoupling is that Bitcoin is still performing less like a safe-haven and more like risk assets, such as tech stocks. The biggest cryptocurrency by market cap over the past seven days alone has swung from $105,893 per coin to as low as $92,876.

@ Newshounds News™

Source:  Decrypt

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🥇🥇GOLD TELEGRAPH BREAKING NEWS🥇🥇

WORLD'S DEMAND FOR GOLD HIT ANOTHER RECORD HIGH LAST YEAR

Read: X . Com

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

THE ANNUALIZED RATE FOR LENDING GOLD  over a one-week period has increased to around 10% this year, up from the previous range of 2-3%.

People are definitely sweating.

Read: X . Com

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

VERY STRANGE THINGS HAPPENING AT THE BANK OF ENGLAND.

They hold over $450 billion worth of gold at current prices, primarily for central banks.

There are weeks long queues to withdraw bullion from its vault and its now trading at a DISCOUNT vs. wider markets.
Massive moment...

Read:  X . Com

~~~~~~~~~~~~~~
BILLIONAIRE PIERRE LASSONDE MESSAGE:

Billionaire Pierre Lassonde told me late last year that the day transactions on the Shanghai Gold Exchange surpass those on the COMEX, gold pricing will shift to the East, leaving the West behind.
Right now, the LBMA says it’s working with COMEX on U.S. gold price premium...

Watch: X . Com

@ Newshounds News™

Source:  Cold Telegraph

~~~~~~~~~

SEC’S CRYPTO TASK FORCE WEBSITE LAUNCHES: HESTER PEIRCE SHARES VISION FOR DIGITAL ASSET REGULATION

The US Securities and Exchange Commission (SEC) has officially unveiled its new Crypto Task Force, marking a pivotal shift in its regulatory approach to the digital asset sector.

This initiative, led by Commissioner Hester Peirce, promises a more engaging and less perilous journey for both the SEC and the crypto industry compared to the tumultuous path the agency has navigated over the past decade.

Peirce articulated the need for a clear destination in the regulatory landscape, acknowledging the previous lack of clarity and the enforcement hesitancy that characterized the SEC’s earlier interactions with cryptocurrency.

New SEC Task Force To Foster Collaboration In Crypto Regulation

In her announcement, Peirce emphasized that the SEC’s past approach was fraught with “legal ambiguities” and “commercial impracticalities,” leaving many market participants in a state of uncertainty.

She highlighted that the Task Force aims to address these issues collaboratively, involving input from various stakeholders, including builders, enthusiasts, and skeptics within the crypto community.

By fostering open dialogue, the SEC seeks to develop a regulatory framework that balances investor protection with the industry’s ability to innovate and thrive.

Peirce was candid about the challenges ahead, acknowledging that untangling the complexities of cryptocurrency regulation will take considerable time and effort.

The SEC has been engaging with the crypto industry for over a decade, with its first Bitcoin exchange-traded product application arriving in 2013. Since then, the agency has faced numerous enforcement actions and made various attempts to clarify regulatory expectations, yet many issues remain unresolved.

Public Engagement In Shaping Digital Asset Regulation

The Task Force’s efforts will include examining the status of different crypto assets under existing securities laws, addressing the regulatory needs of coin and token offerings, and exploring how crypto lending and staking programs fit within the legal framework.

The Task Force also aims to enhance the process for exemptive relief applications and streamline paths to registration for token offerings, while ensuring that the necessary investor protections remain intact.

Peirce explicitly stated that the SEC does not endorse any specific cryptocurrency or token, reinforcing the idea that market participants must make informed decisions without relying on government approval.

Furthermore, the Task Force plans to collaborate with other regulatory bodies and state authorities to create a comprehensive understanding of crypto’s regulatory landscape.

This cooperation is essential for crafting policies that not only protect investors but also provide a safe environment for innovation. The SEC is keen on ensuring that the US capital markets remain robust and efficient, free from fraud and misconduct.

Peirce’s statement also invited public engagement, encouraging individuals and organizations to contribute their insights and suggestions regarding the regulatory framework for cryptocurrencies.

Interested parties can provide written submissions or request meetings with Task Force members to discuss pertinent issues. This open approach reflects the SEC’s commitment to transparency and inclusivity in its regulatory process.

@ Newshounds News™

Source: Bitcoinist

Read more:  Bitcoinist

~~~~~~~~~

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