Fed Panics: New Silver & Gold Laws Threaten Control
Fed Panics: New Silver & Gold Laws Threaten Control
Daniela Cambone: 5-2-2025
We’re seeing more and more states actively participate in a monetary renaissance,” says JP Cortez, Executive Director of the Sound Money Defense League.
He speaks with Daniela Cambone about how different U.S. states are making moves to support sound money by getting rid of taxes on gold and silver and recognizing them as legal tender again.
Fed Panics: New Silver & Gold Laws Threaten Control
Daniela Cambone: 5-2-2025
We’re seeing more and more states actively participate in a monetary renaissance,” says JP Cortez, Executive Director of the Sound Money Defense League.
He speaks with Daniela Cambone about how different U.S. states are making moves to support sound money by getting rid of taxes on gold and silver and recognizing them as legal tender again.
Wyoming, Idaho, and Alabama are a few standout examples of these efforts.
“Politicians tend to see dollar signs and don’t understand the constitutional or historical reasons why gold and silver shouldn’t be taxed,” Cortez points out.
He also weighs in on the recent power outage in Spain, highlighting why depending only on digital money can be risky during a crisis.
Key facts:
2025 has seen significant progress in sound money adoption.
Leading states: Wyoming, Idaho, Alabama Challenges in implementing sound money legislation
Why are politicians reluctant to adopt sound money?
Spain’s blackout highlights the risks of relying on digital money.
Chapters:
00:00 – Tax Reforms on Gold and Silver
4:39 – State-by-State Sound Money Rankings
6:20 – The Rise of the Sound Money
7:31 – Can the Fed Stop Sound Money?
9:24 – Utah's Leadership in Sound Money Adoption
12:30 – Spain Power Outage
17:22 – The Growing Problem of National Debt
18:51 – End the Fed
How Much Inheritance Will Ruin Your Kid?
How Much Inheritance Will Ruin Your Kid?
How Generational Wealth Impacts Productivity And Happiness
Sean Kernan
When my family lived near the Cavalier Country Club in Virginia Beach, we were the token middle-class family in the neighborhood. Many of the houses had hedged bushes, carefully carved into eccentric geometric shapes, and sports cars sitting unashamed in their driveway, announcing their owner’s achievements to all.
And despite this clear class divide, I got along great with the boys around me. Some were only 10, but had fathers that were entirely grey haired, and mothers who looked barely out of high school. I noticed the peculiarity of it but never connected the dots on what these unions meant.
How Much Inheritance Will Ruin Your Kid?
How Generational Wealth Impacts Productivity And Happiness
Sean Kernan
When my family lived near the Cavalier Country Club in Virginia Beach, we were the token middle-class family in the neighborhood. Many of the houses had hedged bushes, carefully carved into eccentric geometric shapes, and sports cars sitting unashamed in their driveway, announcing their owner’s achievements to all.
And despite this clear class divide, I got along great with the boys around me. Some were only 10, but had fathers that were entirely grey haired, and mothers who looked barely out of high school. I noticed the peculiarity of it but never connected the dots on what these unions meant.
Some of these boys were well-adjusted and great. Others were quite spoiled, and I often wonder what came of them. They were agitated and disobedient in school, often getting into fights on the playground.
Had wealth bestowed a sense of privilege upon them? Did they already feel exempt from the rules and any acts of discipline?
Per the Global Health Report for 2023, the United States has 22.7 million millionaires (38.2% of the global total, with China in second at 10.2%). Many of these people are well past one million and cruising into eight and nine figures of net worth. And it leaves us with an interesting predicament: Many scions of vast fortunes are quite young.
And while this might not be a problem many of you sympathize with, it should nevertheless invoke thought about how your worldly assets should be addressed with your children, or the lack thereof.
How should we think about our inheritance?
Lynn Chen-Zhang’s 8-year-old son came home from school one day and said a student asked him, “Why do you study so hard?”
Classmates were saying his parents were rich, so there was no need to work so hard. Her son was on to something. Their father, Charles Chen-Zhang, owns one of the largest financial advisory firms in the country and was already a known philanthropist.
Realizing these questions were continuing, as classmates knew of their family (mainly through gossiping parents), the Chen-Zhangs decided to sit their children down and have the money talk.
They told their two boys, “We’ll support you both in getting as much education as you’d like, but from then on, you are on your own.” Which translated to zero inheritance.
Whether this was a scare tactic or a true threat, they worked. Both sons are now thriving in their finance careers, independent of their father’s company.
This trend is common. I spoke with a peer, Matthew, who is 49 and runs a successful medium-sized business which he just sold for a substantial sum. He told me, “My children don’t even know how much money I just made. Nor do I intend to let them know.” Of note, he lives a humble life and does not flash his wealth by any means.
But most parents don’t face this severe of a dilemma. The average inheritance in the US is “only” $46,200 per census data, with 85% of inheritances being below $250,000. Which isn’t nothing.
The game changes with the ultra-wealthy
TO READ MORE: https://www.yahoo.com/lifestyle/story/how-much-inheritance-will-ruin-your-kid-003747274.html
Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-2-25
Good Afternoon Dinar Recaps,
BITCOIN IS A MATTER OF NATIONAL SECURITY — DEPUTY CIA DIRECTOR
Deputy CIA director Michael Ellis' comments reflect Bitcoin's maturation as an asset but conflict with the cypherpunk philosophy.
The US Central Intelligence Agency is increasingly incorporating Bitcoin as a tool in its operations, and working with the cryptocurrency is a matter of national security, Michael Ellis, the agency’s deputy director, told podcast host Anthony Pompliano.
Good Afternoon Dinar Recaps,
BITCOIN IS A MATTER OF NATIONAL SECURITY — DEPUTY CIA DIRECTOR
Deputy CIA director Michael Ellis' comments reflect Bitcoin's maturation as an asset but conflict with the cypherpunk philosophy.
The US Central Intelligence Agency is increasingly incorporating Bitcoin as a tool in its operations, and working with the cryptocurrency is a matter of national security, Michael Ellis, the agency’s deputy director, told podcast host Anthony Pompliano.
In an appearance on the market analyst and investor’s show, Ellis told Pompliano that the intelligence agency works with law enforcement to track BTC, and it is a point of data collection in counter-intelligence operations. Ellis added:
"Bitcoin is here to stay — cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that is a great trend. One that this administration has obviously been leaning forward into."
"It's another area of competition where we need to ensure the United States is well-positioned against China and other adversaries," Ellis said.
Although Ellis's comments point to Bitcoin maturing as an asset, they also reflect the increased involvement of governments and institutions, which runs contrary to the libertarian and cypherpunk ethos originally inherent in crypto.
Bitcoin: from cypherpunk experiment to state reserve asset
US President Donald Trump signed an executive order establishing a Bitcoin Strategic Reserve on March 7, to mixed reactions from the Bitcoin community.
Bitcoin Magazine CEO David Bailey celebrated the move, while Venice AI founder and BTC advocate Erik Vorhees warned against government ownership of Bitcoin but added that if the US government is to adopt any crypto reserve, it should be Bitcoin-only.
Concerns that cryptocurrencies have lost their cypherpunk roots predate the current market cycle and any strategic reserve legislation or comprehensive regulatory frameworks for digital assets.
In March 2020, Therese Chambers, the former director of retail and regulatory investigations at the UK’s Financial Conduct Authority (FCA), argued that cryptocurrencies had become increasingly financialized and institutionalized.
Chambers added that digital assets were behaving far more like traditional financial instruments than the privacy-preserving tools they were initially billed as.
@ Newshounds News™
Source: CoinTelegraph
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CAPITOL CRYPTO: CONGRESSMAN PROPOSES BITCOIN ATMS IN GOVERNMENT FACILITIES
A Texas Republican congressman has proposed installing cryptocurrency ATMs in United States federal buildings. Rep. Lance Gooden wrote a May 1 letter to Stephen Ehikian, who is presently acting administrator for the General Services Administration (GSA), news reports said.
Trump Ally Frames Proposal As “Educational Resource”
Gooden, one of the president’s well-known Republican allies, recommended in his letter that installing crypto ATMs in government buildings would be an “educational resource” for the public.
He requested that the GSA start exploring guidelines and regulations necessary for installing such machines on federally owned properties across the country.
Public documents filed with the House of Representatives indicate Gooden has not declared any cryptocurrency investment or ATM firms since being elected in 2019. There are no reported financial disclosures in public records available for the Texas representative as of 2025.
Authority Questions Unanswered
The GSA regulates and manages government-owned properties. Although its website states that it can offer space for federal credit union ATMs, it is not certain if Ehikian can extend these regulations to digital asset ATMs provided by private companies.
Reports suggest Ehikian, who was sworn in by US President Donald Trump, may not have a mandate to introduce these types of ATMs without consent from Congress. Reports also disclose that the finances for such an endeavor may demand an act of Congress.
President’s Crypto Connections Raise Questions
Meanwhile, Trump has extensive engagement with digital coins and asset firms across multiple avenues. These range from his individual investments, presidential campaign accounts, family-backed enterprises, and the TRUMP meme coin.
Trump reportedly hosted a dinner in Washington, DC in April for the leading holders of his meme coin. This link creates questions regarding potential policy influences related to cryptocurrency infrastructure in government buildings.
Senate Considers Tougher Crypto ATM Regulations
Gooden’s bill comes as legislators in the Senate are considering bills to combat fraud using digital currency ATMs. Last February, Illinois Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act with the goal of establishing “common sense guardrails” against scams that have hurt many elderly Americans.
The timing provides a telling contrast between Gooden’s initiative to expand access to crypto technology and Durbin’s push for more protection from possible abuse of the same systems.
This brings to the fore the debate surrounding how to achieve a balance between innovation and consumer protection in the world of cryptocurrencies.
@ Newshounds News™
Source: Bitcoinist
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More News, Rumors and Opinions Friday Afternoon 5-2-2025
Gold Telegraph: The World has Quietly Lived through a Monetary Revolution
5-2-2025
Over the past 55 years, the world has quietly lived through a monetary revolution.
What began in 1971 as a “temporary” suspension of the dollar’s convertibility into gold, declared by President Nixon… became a permanent departure from Bretton Woods, replacing gold-backed stability with a floating fiat experiment tied to oil:
The petrodollar.
Gold Telegraph: The World has Quietly Lived through a Monetary Revolution
5-2-2025
Over the past 55 years, the world has quietly lived through a monetary revolution.
What began in 1971 as a “temporary” suspension of the dollar’s convertibility into gold, declared by President Nixon… became a permanent departure from Bretton Woods, replacing gold-backed stability with a floating fiat experiment tied to oil:
The petrodollar.
It was never meant to last.
Even Paul Volcker, who helped design the suspension, believed it would be short-lived.
Instead, it became the foundation of today’s system… a system that has fueled an unprecedented explosion of global debt and left nations at the mercy of a currency no longer anchored to anything real.
We’re living inside a monetary experiment… and history shows these always end the same way.
People know my position, I have been clear about it for years.
But a new article is on the way, unpacking Scott Bessent’s latest comments and the shifting role of the petrodollar.
The U.S. dollar is the current anchor of the international monetary system.
But think about this:
Nations are propping up a currency that holds immense privilege, yet that anchor has become a weapon.
It can freeze your sovereign assets, crush your economy, and finance itself through unlimited money printing… all while sitting on a mountain of record-breaking debt.
Do you think the majority of nations are happy about this?
The United States Treasury Secretary says bond yields are signaling it’s time for the Federal Reserve to cut rates. This is getting very entertaining.
BREAKING NEWS: JAPAN’S FINANCE MINISTER SAID THAT THE COUNTRY’S US TREASURY HOLDINGS COULD BE A CARD IN ITS TRADE NEGOTIATIONS
Boom. There it is… Nobody should act surprised.
“It does exist as a card, said Kato, speaking on a TV Tokyo program Friday. Whether or not we use that card is a different decision…”
Former Treasury Secretary and Fed Chair Janet Yellen has joined the advisory board of a climate-focused venture capital firm. You can’t make this stuff up. The jokes write themselves.
The largest foreign holder of U.S. Treasuries just signalled it might weaponize its $1 trillion stockpile in trade talks. This is a big warning s**t. This should be the day’s biggest story, but many are just glossing over it.
Source(s):
https://x.com/GoldTelegraph_/status/1918046910482620473
https://x.com/GoldTelegraph_/status/1918050360381563342
https://x.com/GoldTelegraph_/status/1918056427849171155
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy says Alaq is the man. He was brought back to Iraq to run the CBI...And he was brought back to control the rate. He worked with Shabibi before his health went bad. Alaq knows the plan... FRANK: Thank you Mr. Sammy. I'm going to give in because you guys are there. He will release the new exchange rate therefore he's in control but he will release it when it is given to him. FIREFLY: ...That's why they [Parliament] have tried for so long to get Alaq out of his job. They know he's working on changing the rate.
Militia Man What we have seen so far in the news is...all positive, nothing that's considered to be worrisome as far as I can see. The tone from Washington has been positive. They've been talking about support...for Iraq's monetary reforms by the largest financial institutions in the world - United States Treasury, Federal Reserve, International Monetary Fund, World Bank, IFC. The focus has been about security, stability, sustainability, partnerships with the public and private sectors, investment opportunities...
1st July - Gold Liberation Day - LFTV Ep 221
Kinesis Money: 5-2-2025
In this week’s Live from the Vault, Andrew Maguire breaks down gold’s recent sharp rise and fall, exposing how short-term volatility is engineered through unbacked US paper markets — now facing a reckoning as Basel III enforcement draws near.
As China steps up physical gold acquisition and global FX markets eclipse COMEX in both credibility and scale, July’s compliance deadline threatens to shift gold’s pricing power eastward, marking a structural break from Western dominance.
Timestamps:
00:00 Start
00:43 Andrew unpacks gold’s round trip and the 1st July Basel III deadline
14:05 Gold charts: Andrew’s short-term outlook and market direction
25:05 Why COMEX is rapidly losing control over gold price setting
29:48 China’s open gold strategy & Trump: who has the gold makes the rules!
36:30 Bullish signals in gold and silver - what’s driving sentiment?
RV Thoughts From 589Bull 5-2-2025
This is Bretton Woods 2.0 but Silent
589bull: 5-2-2025
JUST IN: Trump says Treasury Secretary Scott Bessent is negotiating new trade deals with 200 countries.
There aren’t even 200 countries—so what’s really going on? This isn’t a trade update. This is a signal: the U.S. is rebooting the global financial system.
Scott Bessent isn’t a bureaucrat. He’s a former Soros lieutenant turned nationalist asset manager. Now he’s at the Treasury, shaking hands with the planet—and writing a new playbook.
This is Bretton Woods 2.0 but Silent
589bull: 5-2-2025
JUST IN: Trump says Treasury Secretary Scott Bessent is negotiating new trade deals with 200 countries.
There aren’t even 200 countries—so what’s really going on? This isn’t a trade update. This is a signal: the U.S. is rebooting the global financial system.
Scott Bessent isn’t a bureaucrat. He’s a former Soros lieutenant turned nationalist asset manager. Now he’s at the Treasury, shaking hands with the planet—and writing a new playbook.
Trade deals = cover.
Monetary realignment = mission.
Expect this to include:
• Commodity-backed agreements
• Gold-denominated settlement layers
• Currency revaluations (IQD, VND, etc.)
• Digital rails for cross-border payments
• A new U.S.-anchored FX standard
This is Bretton Woods 2.0… but silent.
Trump isn’t bluffing. He’s locking the U.S. into 200 bilateral levers for liquidity control. You’re watching the scaffolding of a new world economy being bolted together in real time. The headlines won’t say it.
But we see it.
Source(s):
https://x.com/589bull10000/status/1917984083528831108
https://dinarchronicles.com/2025/05/01/589bull-this-is-bretton-woods-2-0-but-silent/
What’s the Rate Gonna be?
589bull: 5-2-2025
Everyone always asks: “What’s the rate gonna be?”
I usually don’t go there, but with everything we’re seeing—the coordination, the U.S. banking moves, the Fed delays—it’s worth laying it out.
Here’s a breakdown of what’s possible, from conservative to bullish:
Conservative Range:
$0.01 – $0.10 USD per IQD
Would be framed as a “managed float” or gradual revaluation. Helps Iraq slowly restore trust in the currency. Fits IMF-style baby steps. But honestly? Doesn’t match the intensity of what we’re seeing right now.
Mid-Range (Realignment):
$0.30 – $0.50 per IQD
This range is more realistic if Iraq is re-entering Forex with intent. Backed by oil, gold reserves, strong budget activity, and trade growth. Also high enough to shift regional dynamics, but low enough to stabilize.
Bullish Range:
$1.00 – $3.00 per IQD
This would be a full-blown reset play. Parity with the dollar or higher. Symbolic. Strategic. Global. Would explain why the U.S. is micromanaging liquidity, timing, and banking integrations.
Could it go higher? Only under a controlled redemption window or tiered payout model. We’re talking geopolitical restructuring, asset backing, BRICS pushback, and U.S. leverage in play.
But to be clear: anything over $3 would require a system the public hasn’t fully seen yet.
Final thought: You don’t build this much coordination just to bump from 1310 to 1190. This feels bigger—and whatever the number is, it’s gonna shock a lot of people.
So yeah, I usually don’t guess. But right now? Feels like time to pay attention.
Source(s):
https://x.com/589bull10000/status/1918047681156382785
https://dinarchronicles.com/2025/05/01/589bull-whats-the-rate-gonna-be/
Coffee with MarkZ and Mr. Cottrell. 05/02/2025
Coffee with MarkZ and Mr. Cottrell. 05/02/2025
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 Friday Morning to all . This week just flew by……..
Member: I hope we have good RV/financial news today
Coffee with MarkZ and Mr. Cottrell. 05/02/2025
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 Friday Morning to all . This week just flew by……..
Member: I hope we have good RV/financial news today
MZ: This conference has been a very good time. Got to meet and send time with a lot of people. It was great to connect with so many in person…..Thank you for understanding why I could not do a podcast last night
Member: We missed you Mark, but so happy for you to have this great opportunity
MZ: I am still drawing a blank from my one bond contact with the bank wire. Still waiting to see if he got spendable dollars. I think this is a great sign because he told me he wasn’t going to answer if he was paid.
MZ: I have heard that others have been paid. But no confirmation from a personal source. I don’t think they have hit the 30% bonds paid yet….but I continue to hear from other bond holders that they are moving along quickly with processing.
Member: Any idea how close to the 30% bondholders paid we are at?
MZ: Judging from what I am seeing…..My best guess is they are at the halfway mark. But it’s just a guess…..we could find out within hours they have already reached it.
Member: I wonder - do bond payouts occur over the weekend or wait till Monday??
MZ: I did get a great check in yesterday saying their humanitarian group had a long meeting with the Treasury to position their money for release…..and now has funds …..This is a group from Tier 3…but the money is not from the same pot as the historic bonds are……..This has me downright excited.
MZ: If they got dollars….we should soon start seeing some relief.
MZ: On the banking/redemption center side. They say they have to work half a day this weekend.
Member: have you heard if Zurich has started ?
MZ: I have heard that the engine has started running in Zurich. That is what I am hearing.
Member: I watched the Mike Bara interview with Wolverine and it seems there are certain countries starting to pay out for people holding bonds. Who knows if it is actually happening.
Member: What happened to the audit at Fort Knox ?
Member; Last night in the Jessie Waters interview with Elon Musk…..they mentioned that they were currently auditing the US Treasury along with other departments …..and the audit of Ft. Knox is next on the list .
Member: I heard Iraq’s AYUSCUDA system will be totally up and running the middle of this year.
MZ: yes –it’s 93% up right now. That is what was claimed in an article this week. It’s another necessary step towards the RV . We are not waiting on this for the RV though. I don’t think there is anything on the list that they cannot do within hours to release this thing.
Member: The middle of this year could mean this month?
Member: Mark is Venezuela back in first basket. Sources Wolverine and Bara put out positive comments on it yesterday.
MZ: I don’t know if Venezuela is in the first basket. Bank contacts have not seen any new values popping up on the Bolivar.
MZ: They have seen internal documents saying they need to train on accepting VND rupiah and IQD and others…. and learning procedures on accepting them…..……but not specifically on the Bolivar.
MZ: I am hopeful the Bolivar is in it….and I know it will go at some point.
Member: Is President Trump holding up the RV for a negotiation tool?
MZ: I have not heard that. I believe he wants it done.
Member: TNT said the appointments are needed for redistribution today…. approval was last night and new rate in the 5 range
Member: Will you have a list of where the redemption centers are going to be throughout the United States?
Member: When we call and give our zip code for our appointment. I believe that is where we will be told where to go.
Member: Question: If thousands of new millionaires are suddenly created by the RV, won't that be inflationary?
Member: They must be aware of this and have a plan???
Member: Sounds like this could happen before Mothers Day.??
Member: We are getting so close folks. Hang tight.
Member: Have a nice weekend, all! And safe travels, Mark!
Member: BREAKING: Massive 7.4-magnitude earthquake hits off the coast of South America (Argentina) praying that folks there will be safe.
Mod: REMINDER! NO FRIDAY OR SATURDAY MORNING PODCAST! MARK WILL BE TRAVELING TO NORTH CAROLINA!
Mr. Cottrell and CBD Guru’s join the stream today. Please listen to replay for their information .
IF YOU WANT TO SEE MARK AND ZESTER'S AT THE TRUTH SEEKER'S CONFERENCE VIDEO GO TO THE INTEL INFO ROOM. INTEL INFO ROOM: Link: https://t.me/+K_GNVfTI0gFkZWYx
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.
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THANKS FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR NEWS @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS! FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS
7 Key Signs You’re Wealthier Than You Think
7 Key Signs You’re Wealthier Than You Think
Caitlyn Moorhead Tue, April 29, 2025 GOBankingRates
Controversial but consummately successful podcaster Joe Rogan once said he felt like he’d “made it” financially when he had enough money to eat at a restaurant at night without feeling guilty and stressed about what it cost the following day.
Rogan’s net worth is now estimated at $200 million, which is all the money in the world — unless you’re Elon Musk. That makes Rogan’s $200 million fortune he made bloviating opinions less than 0.05% of Musk’s $391 billion fortune he made buying cars and rocket ships.
7 Key Signs You’re Wealthier Than You Think
Caitlyn Moorhead Tue, April 29, 2025 GOBankingRates
Controversial but consummately successful podcaster Joe Rogan once said he felt like he’d “made it” financially when he had enough money to eat at a restaurant at night without feeling guilty and stressed about what it cost the following day.
Rogan’s net worth is now estimated at $200 million, which is all the money in the world — unless you’re Elon Musk. That makes Rogan’s $200 million fortune he made bloviating opinions less than 0.05% of Musk’s $391 billion fortune he made buying cars and rocket ships.
he point is that how you feel about wealth is subjective and can come from many sources. In a country where more than half of all six-figure earners reportedly live paycheck to paycheck, how do you know if you’re rich, or at least richer than you think? Here are eight key signs you may be wealthier than most Americans.
You Make More Than the Median Earner
Your salary, of course, plays a significant role in your ability to accumulate wealth and has a lot to do with how you measure up to the masses.
“The median household income in the U.S. is around $75,000,” said Joel Ohman, certified financial planner and CEO of Clearsurance. “So, if you make more than that, your income is higher than half the people in the country.
“Of course, how far $75,000 takes you will depend on where you live. For example, you have a lot more buying power with $75,000 a year in Glendive, Montana, than you would in Orange County, California.”
Since the cost of living varies so dramatically from one place to the next, area median income (AMI) is a more accurate yardstick to measure your comparative wealth.
HUD Loans by commercial property financing firm Janover offers a state-by-state AMI breakdown with metro, non-metro and total AMI variants. Fannie Mae has a map-based AMI lookup tool that allows for much more granular and local detail.
You’ve Met the Standard Saving Milestones
Even the most impressive income is no indication of wealth if you spend more of it than you make, which so many high earners seem to do. The more accurate barometer, then, is how much you have in the bank.
“If you’re making higher than an average salary and have saved four times your annual income, and you’re in your 20s, you’re doing very well,” said Ohman.
Ohman’s benchmark is exceptionally high. The standard guideline is to have the equivalent of your annual salary saved by age 30, three times your salary by 40, six times by 50, eight times by 60 and 10 times by 67.
Several studies have shown that more than half the country is behind on those milestones, so even being on par with your decade’s goal lands you a spot among the more affluent half.
You’re Not Drowning in Outstanding Financial Obligations
TO READ MORE: https://finance.yahoo.com/news/signs-wealthier-think-152349259.html
Seeds of Wisdom RV and Economic Updates Friday Morning 5-2-25
Good Morning Dinar Recaps,
US CONGRESS SEEKS TO END THE PENNY BY INTRODUCING THE COMMON CENTS ACT
The ‘Common Cents’ Act, which has bipartisan support, seeks to end the production of the $0.01 coin, commonly known as the cent, as its production and distribution costs exceed its face value. Representatives Lisa McClain and Robert Garcia, along with Senators Cynthia Lummis and Kirsten Gillibrand, are behind this proposal.
Good Morning Dinar Recaps,
US CONGRESS SEEKS TO END THE PENNY BY INTRODUCING THE COMMON CENTS ACT
The ‘Common Cents’ Act, which has bipartisan support, seeks to end the production of the $0.01 coin, commonly known as the cent, as its production and distribution costs exceed its face value. Representatives Lisa McClain and Robert Garcia, along with Senators Cynthia Lummis and Kirsten Gillibrand, are behind this proposal.
Common Cents Act Gets Introduced to Stop Penny Production
The U.S. Congress will consider ending the production of the $0.01 coin, commonly known as the penny, to combat government inefficiency. A proposal called the ‘Common Cents Act’ seeks to eliminate the production of the cent coin to reduce government spending on a coin that is no longer widely used.
Introduced by a bipartisan group of lawmakers, including Representatives Lisa McClain and Robert Garcia, as well as Senators Cynthia Lummis and Kirsten Gillibrand, the act would direct the Secretary of the Treasury to cease production of one-cent coins for regular use.
However, special issuances for coin collectors would still be allowed, provided the sale price of the coin ‘equals or exceeds the total cost of production, including variable costs and the appropriate share of fixed costs.’
Additionally, the bill proposes rounding prices to the nearest five cents, a resolution adopted by several countries implementing similar reforms. This would enable people to complete all cash payments without issue.
Senator Cynthia Lummis highlighted the wasteful spending that the U.S. Mint executes with the issuance of each penny. Lummis stated:
The fiscal reality is undeniable: the U.S. Mint spends three cents to produce each one-cent coin. With a $36 trillion national debt, we have to implement meaningful opportunities to reduce costs, update our currency system, and codify the elimination of government inefficiencies. It just makes cents!
In February, President Donald Trump decided to end the production of the penny, assessing that the whole operation was “wasteful.” Nonetheless, experts stated that this decision was not his to make, as Congress is the institution that dictates the specifics of coin production.
Analysts expect Trump to tackle nickel production in the future, as it is also produced at a loss.
@ Newshounds News™
Source: Bitcoin News
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COULD XRP ETF APPROVAL BE NEAR? RIPPLE TO MEET SEC CHAIR PAUL ATKINS ON MAY 2
As positive shifts in cryptocurrency regulation unfold under President Donald Trump’s second administration, speculation is mounting regarding the potential approval of spot XRP ETF applications.
This anticipation is fueled by significant changes at the US Securities and Exchange Commission (SEC), particularly the appointment of Paul Atkins as the new chair. Known for his pro-crypto stance, Atkins represents a departure from the stringent regulatory environment established by former chair Gary Gensler.
Speculation Rises Around XRP ETF Applications
The timing of a possible XRP ETF approval is further ignited by reports of a potential meeting between Ripple Labs’ executive chairman and co-founder Chris Larsen and SEC Chair Paul Atkins. Such discussions could pave the way for expedited decisions on XRP ETF applications.
Earlier this week, Bitcoinist highlighted that the SEC has set a new deadline of June 17, 2025, for either approving or disapproving the XRP ETF application submitted by asset manager Franklin Templeton or initiating further proceedings to assess the proposal.
Bloomberg ETF expert James Seyffart has indicated that while the June deadline is crucial, market participants should prepare for a series of decisions expected in the fourth quarter of 2025.
However, Bloomberg’s ETF expert specifically pointed to mid-October—around the 18th of this year—as a pivotal date for a potential spot XRP ETF decision by the regulatory body.
Ripple Labs Sees Renewed Hope
Adding to the excitement, crypto investor Steph Is Crypto recently shared on social media site X (formerly Twitter), that insiders suggest the meeting between Larsen and Atkins, reportedly scheduled for May 2, could bring the approval of XRP ETF applications closer to reality. However, as of Thursday, no official confirmation or statements have been released by either party, leaving this scenario uncertain.
The ongoing speculation for XRP ETF applications come amid a more favorable environment for Ripple Labs, which has long advocated for regulatory changes in the US.
The previous administration faced criticism for its enforcement actions and lawsuits targeting major players in the crypto sector, including Ripple Labs itself.
Since Gensler’s resignation on January 20, 2025, several lawsuits against prominent companies like Coinbase, Robinhood, Uniswap Labs, and Kraken have been dropped, further easing regulatory pressures.
This renewed optimism not only fuels hopes for XRP ETF approval but also raises expectations for other crypto ETFs, including those for Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), which may also receive approvals later this year.
At the time of writing, XRP, currently the fifth largest cryptocurrency on the market in terms of capitalization, is trading at $2.21, up 8% in fourteen days amid renewed optimism in the market after a challenging few months.
@ Newshounds News™
Source: Bitcoinist
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News, Rumors and Opinions Friday AM 5-2-2025
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 Fri. 2 May 2025
Compiled Fri. 2 May 2025 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Wed. 30 April 2025 Banker: “Initially Wells Fargo Bank in Sacramento was to release the 800 number. It is now my understanding that it will be released in Panama.”
Tues. 29 April 2025 Wolverine: “Bond Holders are liquid in their accounts. Money is defiantly moving.”
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 Fri. 2 May 2025
Compiled Fri. 2 May 2025 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Wed. 30 April 2025 Banker: “Initially Wells Fargo Bank in Sacramento was to release the 800 number. It is now my understanding that it will be released in Panama.”
Tues. 29 April 2025 Wolverine: “Bond Holders are liquid in their accounts. Money is defiantly moving.”
Thurs. 1 May 2025 Bruce:
Sometime between now and next Wed. 7 May you should get an email from Wells Fargo that instructs how to set up your exchange appointment.
In order for us to exchange there were three things that needed to happen that did happen by yesterday Wed. 30 April. (1) One was taking out the nuclear plant in Iran – which set up a peace agreement in the Middle East. (2) The second was the agreement between Trump and Ukraine to mine precious metals. Russia agreed to a cease fire for three days. (3) The third was the problem with Iran and Ukraine integrating into the new banking system. That is to happen by Fri. night 2 May.
There were indications that Dong and Dinar were being exchanged in the Middle East.
Everything was triggered to start today Thurs. 1 May at 2 pm EST.
The latest information was that Tier4b (us, the Internet Group) notifications should come out over the weekend, with appointments starting on Tues. 6 May.
All exchanges are to be finished by Sat. 31 May 2025.
On Wed. 30 April Iraq announced they were in bankruptcy, so their Dinar was likely to revalue ASAP. The IQD (Iraqi Dinar) flips first, the XRP follows: https://x.com/589bull10000/status/1917621269450707386?t=1T5j2NhKm7xa-kjs5dfUtw&s=09
Thurs. 1 May 2025 Dong RV Officially Confirmed: OH MY GOSH! – VND Revaluation OFFICIALLY Confirmed – URGENT Update for Dong Holders!
Thurs. 1 May 2025 Three Signs the Iraqi Dinar RV Has Already Started: IRAQI DINAR – 3 Hidden Signs the Iraqi Dinar RV Already Started – Banks & Redemption Centers Know!
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Global Financial Crisis:
Thurs. 1 May 2025: The Federal Reserve Lost $80 Billion, American Taxpayers PAID FOR IT. “The Fed is losing, last year they lost about $80 billion and the taxpayers funded that, and we use that money to pay banks.” Charlie Kirk “So is congress then financing this loss?” “Yeah — It’s crazy.” …Q into the Storm on Telegram
Thurs. 1 May 2025: TRUMP UNLEASHES GOLD-POWERED INCOME TAX REVOLUTION …Nesara Gesara on Telegram
TRUMP JUST CHANGED EVERYTHING. On April 27, 2025, he dropped the bomb: “NO INCOME TAX for Americans earning under $200K” — all thanks to a TARIFF-POWERED REVENUE PLAN that’ll obliterate the IRS and launch America into a new industrial age. Factories are firing up. Jobs are coming back. He calls it the EXTERNAL REVENUE SERVICE.
But here’s the part they don’t want you to see: it’s not just tariffs. This is the death blow to the fiat system.
JUDY SHELTON IS BACK. Trump’s trusted gold-standard economist is pushing a new 50-year Treasury bond — fully convertible to GOLD — launching July 4, 2026. Her plan? Use America’s gold reserves to back a new debt instrument and k**l the Fed’s monopoly. This isn’t theoretical. This is the start of a financial coup.
The Fed is DONE. The global dollar order is collapsing.
Russia and China are already there. Russia just abolished the 20% VAT tax on gold — signaling a full return to a gold standard. China? Quietly hoarding gold, dumping dollars.
Defcon insiders warn: The next global system will be gold-backed, and the US dollar will CRASH. Maxime Bernier isn’t mincing words: “We’re handing them the win. We’re triggering the collapse of our own currency.” And Canada has no gold left. NONE. Their dollar is hanging by a thread.
This is happening FAST. Russia’s central bank is stacking up assets immune to sanctions — gold, cash, and Chinese yuan. They’re preparing for the final break from the Western system.
Meanwhile, Lebanon just canceled its central bank’s foreign debt. That’s full-on reset mode. Central banks are collapsing from the inside. They’re wiping the slate clean. Who’s next?
The gold dominoes are falling. And in the shadows, Multichain is connecting XRPL with 39+ chains, bypassing legacy financial controls — ushering in a decentralized gold-backed exchange system with over $6 billion locked and $200M daily volume. Quiet now… but that’s how revolutions start.
We are in the final chapter. The fiat illusion is crumbling. Gold will rise. Trump is forcing the reset — ON OUR TERMS.
WAKE UP. THE WAR ISN’T COMING. IT’S HERE.
Read full post here: https://dinarchronicles.com/2025/05/02/restored-republic-via-a-gcr-update-as-of-may-2-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Yada For this rate to delay another month would mean they'd have to freeze all they've done up till now. 26 billion dollar worth of oil not flowed from Iraq to Turkey and all needed is the rate to populate. US pushing to get it restarted. Billions of invested money from companies arrived in Iraq the past 3 weeks and doubt they will just sit on it with no rate change...There is much said in the articles as well as prep actions of Iraq to indicate, the rate release is upon us.
Militia Man Article quote: "Non-oil imports rose significantly during the government of Muhammad Sudani including long-term investment revenues..." Sudani has increased the non-oil revenues since he's been in office...Realize Iraq's original valuation was primarily based off oil. Now they have non-oil resources. They're really going to be able to support a real effective exchange rate as far as I can see...
Twin Deficit Crisis: 'This Is How You End Empires', Recession Imminent? | Darius Dale
David Lin: 5-1-2025
Darius Dale, Founder of 42 Macro, explains his forecast for a W-shaped market correction in 2025, warning about the risks of the U.S. twin deficit crisis and recommending defensive positioning with significant allocations to gold and cash.
0:00 - Intro
1:25 - Allocation update
5:52 - Fiscal timing
9:35 - Recession explanation
18:02 - Credit defaults and shorting
20:44 - Retail investing
23:13 - KISS Portfolio
28:25 - Capital outflow
35:55 - View of the dollar
39:40 - Deficits
43:43 - DOGE cuts
48:15 - W-shaped Market in a U-shaped Economy
“Tidbits From TNT” Friday Morning 5-2-2025
TNT:
Tishwash: Planning: Memoranda of Understanding with advanced countries to train employees outside Iraq
The Ministry of Planning affirmed that training government employees is a priority for enhancing institutional performance, while noting the signing of memoranda of understanding with advanced countries to train employees outside Iraq.
Ministry spokesperson Abdul Zahra Al-Hindawi said that the ministry places a direct emphasis on training and developing the capabilities of employees in all state institutions through the National Center for Administrative Development and Information Technology.
TNT:
Tishwash: Planning: Memoranda of Understanding with advanced countries to train employees outside Iraq
The Ministry of Planning affirmed that training government employees is a priority for enhancing institutional performance, while noting the signing of memoranda of understanding with advanced countries to train employees outside Iraq.
Ministry spokesperson Abdul Zahra Al-Hindawi said that the ministry places a direct emphasis on training and developing the capabilities of employees in all state institutions through the National Center for Administrative Development and Information Technology.
He explained that the National Center organizes, as part of its annual program, numerous training courses in various fields, including management, law, protocol, computers, electronic and financial aspects, and others. Some of these courses are held at the request of government institutions based on their needs. link
Tishwash: Clarification of the Cabinet's decision regarding the withdrawal of tax deposits
A responsible source commented on Thursday (May 1, 2025) on what was circulated on social media and some media outlets regarding a government decision to withdraw tax deposits, stressing that the procedure is legal, announced, and aims to cover basic expenses, most notably salaries.
The source told Baghdad Today, "The sums referred to in the decision were not recorded in a final account within the public treasury, but were used to cover expenses, a practice followed by previous governments and implemented in accordance with a decision announced by the Council of Ministers."
He explained that "the decision included reversing the amounts of trusts from the revenues collected during tax accounting," noting that "the Ministry of Finance, as the competent authority, studied the decision before making it."
The source added, "What happened in the previous government regarding tax deposits could have been avoided if the current procedure had been adopted at the time," considering that "the deliberate distortion and fraud by some parties for electoral purposes not only targets the government, but harms all of Iraq."
He concluded by stressing that "the government is proceeding with its reforms despite attempts to disrupt them, in a manner that ensures the best possible service to the Iraqi citizen."
Decision details: Temporary withdrawal and subsequent settlement.
The Cabinet voted last April to authorize the Minister of Finance to withdraw more than 3 trillion dinars from tax deposits less than five years old to cover salary expenses for the coming months. These amounts will be subsequently settled from monthly tax revenues.
According to observers, this measure is a temporary means of financing to overcome delays in transferring oil revenues from the US Federal Reserve into local currency, without the need for borrowing or delayed salaries.
Despite the technical
nature of the decision, the withdrawal of tax deposits sparked widespread political controversy, with some forces viewing it as a reflection of the fragility of the financial situation and the government's weak ability to manage expenditures without compromising temporary and legally allocated funds.
For its part, the Parliamentary Finance Committee believes that addressing this crisis requires a comprehensive review of fiscal policy, reducing reliance on oil, and enhancing non-rent resources, to avoid the repeated resort to exceptional solutions that could be legally considered controversial. link
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Tishwash: Al-Sudani explains the reason for inviting the Syrian president to the Baghdad summit and Iraq's ambition to host the Iran-US talks.
Prime Minister Mohammed Shia al-Sudani affirmed that Syrian President Ahmed al-Shara's invitation to attend the Arab League summit in Baghdad was within the established protocol of the Arab League system, noting the importance of his attendance in clarifying his vision for Syria's future to Arab countries.
In press statements monitored by Al Furat News Agency, Al-Sudani stressed Iraq's commitment to Syria's security and stability, considering it a part of Iraqi national security. He expressed his hope that Syria would witness a comprehensive political process that guarantees the rights of all citizens.
In the context of regional relations, Al-Sudani explained that Iraq maintains good relations with both Iran and the United States, affirming Baghdad's support and encouragement for the current negotiations between them. He added that the success of these negotiations will have positive repercussions for the region as a whole, including Iraq.
Regarding relations with Washington, Al-Sudani noted Iraq's efforts to shift toward bilateral relations with the United States, a focus of two rounds of dialogue in Washington. He expressed hope that the third round would be held in Baghdad.
Regarding the Palestinian issue, the Prime Minister emphasized that it is "the root of the problem in the Middle East," expressing his belief that US President Donald Trump is capable of leading global efforts to resolve it.
Al-Sudani explained that "Iraq is experiencing its best situation since the founding of the modern state," adding, "Iraq is not what is often viewed as a war zone. Indicators on the ground are different. Residents of the capital are out and about until late at night, and more than $88 billion in investments have entered the country."
He stressed that "the challenge facing my government is to restore citizens' confidence in state institutions, due to the many setbacks that have occurred over the past two decades."
The Prime Minister stated that "corruption is one of the challenges facing my government, and I have initiated practical, not media-based, measures to combat it." link
Mot: “Excuse me… could you walk with me for a couple of minutes?”
A man is walking through the supermarket, holding a basket and looking a bit lost. He notices a very attractive, beautiful, and fit young woman nearby. He walks up to her with a friendly smile:
“Excuse me… could you walk with me for a couple of minutes?”
The woman looks confused and asks,
“Why?”
He replies,
“I’ve lost my wife… and every time I talk to a pretty woman, she magically appears out of nowhere!”
The woman chuckles and says,
“That’s… oddly specific.”
He points behind her and says,
“See? Told you — there she is!”
Iraq Economic News And Points To Ponder Thursday Evening 5-1-25
Oil Prices Stabilize, Brent At $61
Time: 2025/05/01 07:52:31 Read: 2,235 times {Economic: Al Furat News} Oil prices stabilized with little change after recording their largest monthly decline since 2021, amid indications that the OPEC+ alliance may be entering an extended phase of increased production.
West Texas Intermediate crude traded around $58 a barrel after falling 3.7% on Wednesday, while Brent crude held near $61.
Oil Prices Stabilize, Brent At $61
Time: 2025/05/01 07:52:31 Read: 2,235 times {Economic: Al Furat News} Oil prices stabilized with little change after recording their largest monthly decline since 2021, amid indications that the OPEC+ alliance may be entering an extended phase of increased production.
West Texas Intermediate crude traded around $58 a barrel after falling 3.7% on Wednesday, while Brent crude held near $61.
Reuters reported that Saudi officials have told their allies and industry experts that the kingdom can withstand lower prices for an extended period.
At its meeting earlier this month, the OPEC+ alliance decided to raise oil production by more than previously estimated starting in May, by about 411,000 barrels per day, equivalent to three months of planned increases.
This report comes as the market awaits OPEC+'s next move, given the recent decline in oil prices. JPMorgan analysts led by Natasha Kaneva see in a note a "growing likelihood" that OPEC+ will accelerate the return of crude supplies to the market at its next meeting on May 5.
Meanwhile, hopes for a quick breakthrough in US-led trade negotiations are fading, negatively impacting the outlook for energy demand.
US economic contraction: Oil prices have been under pressure since US President Donald Trump announced on April 2 that he would impose high tariffs, heralding a broader trade war that could lead to a global economic slowdown.
Data on Wednesday showed that the US economy contracted for the first time since 2022, while manufacturing activity in China fell to its worst level since December 2023. This decline overshadowed more positive data showing a decline in US oil and gasoline inventories last week.
According to Morgan Stanley, global oil demand in April remained unchanged from last year's level, at 102 million barrels per day, although the bank had expected an increase of 500,000 barrels per day over the previous month. LINK
The Central Bank Of Iraq Has Decided To Sell $2,000 To Each Pilgrim At The Official Exchange Rate.
Thursday, May 1, 2025 17:25 | Economic Number of readings: 143
https://ninanews.com/Uploads/Images/2025/5/1224130-1e78f8df-f682-48ba-bc0c-f316aec7bc8b.jpg
Baghdad/ NINA / The Central Bank of Iraq decided, on Thursday, to sell $2,000 to each pilgrim at the official exchange rate of 1,320 per dollar.
The text of the document issued by the Central Bank stated that it was decided to grant each pilgrim $2,000 at the official rate,
as part of the facilities provided to pilgrims to the House of God https://ninanews.com/Website/News/Details?key=1224130
Terms And Conditions
April 30, 2025 Anti-Money Laundering and Counter-Terrorism Financing Controls for Electronic Payment Service Providers. For more information, click here https://cbi.iq/static/uploads/up/file-174600330029591.pdf
[48 page pdf file in Arabic] https://cbi.iq/news/view/2878
A UN Assessment Of Iraq's Position On Regional Crises And Its Dissociation From Them
Time: 2025/05/01 22:01:51 Reading: 765 times {Local: Al Furat News} The United Nations praised Iraq's stance on regional crises and its dissociation from them on Thursday.
The Special Representative of the Secretary-General for Iraq, Mohammed Al-Hassan, said in a press statement that: "The Iraqi government's handling of the region's crises has been extremely successful."
He added, "The government has kept many disputes and conflicts away from Iraq," noting that "Baghdad and Erbil have dealt calmly and professionally with the region's challenges to protect Iraq from any negative impacts."
Al-Hassan explained that "the Iraqi authorities and decision-makers have dealt in an optimal and rational manner, keeping the country away from many problems." LINK
Parliamentary Finance: Budget Tables Will Reach Parliament After The Legislative Recess.
Thursday, May 1, 2025, 4:03 PM | Economics Number of reads: 316 Baghdad / NINA / The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced that the budget tables will reach the parliament after the legislative recess.
Al-Atwani said, "Voting on the budget tables within the parliament will not exceed the ninth of next June due to the legislative recess," noting that "the budget is approximately 210 trillion, divided into an operating budget of approximately 155 trillion and a 55 trillion investment budget with a deficit of 66 trillion dinars."
He added, "Our planned path for discussing the budget and studying these tables is to review their contents and study them in detail," noting that "the first ministers to attend to discuss the budget will be the Minister of Finance, followed by the Minister of Planning."
Al-Atwani continued, "The approved mechanism for distributing the investment budget amounts, whether between ministries or governorates, is studied and analyzed, after which the report is written and submitted to the House of Representatives, and then the budget tables are presented with the report to the House for voting on them.
" He stressed "the committee's keenness to complete the task as soon as possible, considering that we voted on a three-year budget for the government to operate comfortably and not to disrupt the tables." https://ninanews.com/Website/News/Details?key=1224120
The Iraqi Banking Sector Between Support Flexibility And The Risk Of Reserve Depletion: A Reading Of The Fitch Report And Central Bank Figures
Economy News – Baghdad Bassam Raad / Economic Researcher At a time when Fitch Ratings confirms the flexibility of the Iraqi banking sector in the face of oil price fluctuations (1), the Central Bank’s figures reveal a decline in foreign reserves during the first quarter of 2025 (Al-Marsoumi) (2).
These two reports present a multifaceted picture of the Iraqi economy, highlighting short-term resilience thanks to liquidity support policies and long-term risks associated with reliance on oil, price volatility, and declining foreign reserves.
The Fitch report indicated that the Iraqi banking sector, despite its low credit rating (CCC)(3), is not directly affected by the decline in oil prices.
This is due to the Central Bank's ability to support government spending through proactive monetary policies. One of the most prominent of these policies is known as monetary sterilization(4), through which the exchange rate is maintained stable and inflation is curbed.
Central Bank figures also revealed that Iraq's foreign exchange reserves declined by more than $7 billion during the first quarter of 2025, reaching 127.198 trillion dinars in March 2025, compared to 136.877 trillion dinars in December 2024. This means that the Central Bank sacrificed a portion of its reserves to achieve domestic financial stability, reinforcing Fitch's claim about the resilience of the banking sector.
Overall, the Fitch report cannot be separated from the decline in oil prices, which fell from around $77.3 to $72 per barrel during the first quarter of this year, a source of approximately 90% of Iraq's revenues.
While the agency saw that the direct impact on banks is limited, we can sense the indirect impact through the Central Bank’s figures and through
The Following Comparison:
Government revenues declined, increasing pressure on the central bank.
Foreign exchange reserves: decreased by approximately 9.679 trillion dinars by the end of the first quarter of this year.
Here, the data shows that support policies may achieve temporary stability, but they rely on limited resources (foreign reserves), which portends risks if oil prices continue to decline or government spending expands unplanned.
Despite the Central Bank’s assurances that reserves are still good by international standards (their ratio to the money supply is above 20%) (5), in an oil-dependent country like Iraq, the decline in oil revenues negatively affects foreign currency flows. The continued decline in oil prices for a long period may weaken the ability to compensate for depleted foreign reserves.
The most important message conveyed by Fitch's reports and the central bank's figures is that "temporary stability is no substitute for radical reform."
While monetary support policies demonstrate short-term resilience, depleting reserves and rising public debt portend future crises if the Iraqi government does not rapidly diversify its economy and adopt radical reforms.
Iraq is at a crossroads: either diversify its sources of revenue and move toward a productive economy based on industry, technology, and agriculture, or remain hostage to the volatility of oil prices and the fragility of credit ratings. https://economy-news.net/content.php?id=55007
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/