Coffee with MarkZ. 05/05/2025

Coffee with MarkZ. 05/05/2025

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 Morning. New Month, New week……..let’s go!!!!!

​​Member: Another weekend without the RV… wow ever thought we would still be waiting

Member: Really hoping Mark has some good news for us today.

MZ: The news is still good….We are just not there yet. But there is a lot going on in Iraq right now.

Member: did Charlie have any idea on timing when you met with him last week?

MZ: He is like me and thinks it’s really stinkin close. He is tracking the progress as well.

Member: Any good news for bond holders?

MZ: Bond contacts are absolutely MIA right now . That is not not unusual for a Monday morning. Most get updates later in the day.

Member: Sure sounds like it could be strict NDA’s to me.

MZ: That exactly may be the case. If I do not hear from them – one way or another….that is my assumption.

Member: If the reset doesn’t happen soon, when Basel 3 is implemented July 1 2025 that may help with the reset. Cmkx!!

Member: (From Dinar Guru)  Mnt Goat Article:  “TALABANI’S PARTY: THE OIL AND GAS LAW IS OFF THE AGENDA FOR THE CURRENT SESSION, DESPITE THE GOVERNMENT’S PROMISES.”  As investors we have...been watching for the Oil and Gas law/referendum required by the new Iraqi constitution of 2005...One day we hear it is being passed on to parliament and the next day we hear it will not even be considered in the current session... A member of the Patriotic Union of Kurdistan (PUK), Burhan Sheikh Raouf, confirmed on Thursday that the oil and gas law will not be passed anytime soon, as the current parliamentary term is approaching its end, despite the urgent need to regulate this vital issue.

MZ: The question is – what is the real truth? We heard similar things in Kuwait  and China before they RV’ed their currency.

MZ: “The minister of finance is reporting a 5% growth in non oil GDP in 2024” this is a pretty big story. Presently oil prices are suppressed but it started the year at $78 a barrel . they are far more secure than the “Chicken Little’s” out there are claiming.

Member:  Iraqi government is suppressing the weight of my pockets as well

MZ: “ Expectations to postpone the passage of important laws to the next parliamentary session”  this is a flip flop. They also say they will pass budget tables in the next “coming days” guess we will see what the coming days will bring.

MZ: “Because of Washington Baghdad resorts to “tax deposits”  to secure employees salaries”  the Federal Reserves seems to not want to release all their dollars back to Iraq. Could this be the last dying breath of the Federal reserve?  Or is it something deeper?

MZ: “ Experts discover the biggest hydrogen reservoir on earth-6 trillion under these states” this is in the US between the Appalachian and the Rockies-  there is a huge list on the states with large hydrogen deposits. We are moving towards an asset backed world and are suddenly discovering new assets.

Member: More assets to back the new asset/gold backed USN notes!!!

Member: oil and crude prices are falling again today.

MZ: That may be a good sign …at some point they will not have enough oil revenue and will be forced to RV.

Member: My gut says, once Trumps Big Beautiful Tax Bill is approved and signed, then it’s our day

Member: Do we still get notifications with the 8oo number for the redemption centers?

Member: Until we hear differently- that is the plan

Member: Hubby wants me to ask, "Will all countries revalue their currency eventually?"

Member: Eventually Trump has always says he want parity between currencies. He wants all currencies to have a 1 to 1 value……so I say yes.

Member: Maybe RV is this week and Diddys trial could be cover!

Member: I believe that the Kentucky winner was a Big sign!!  Sovereignty!

Member: Sovereignty beat out Journalism(msm). Ironic

MZ: That is so very ironic.

Member: I appreciate all that have tried helping us over this finish line - whether it be Mark, Mike Bara, Wolverine all of em

Member: Mark. I don’t know how you do it. So much going on and you are still thinking of us and keeping the community informed. Thanks!

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  TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!  FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

Youtube:     https://www.youtube.com/watch?v=xyiy6nJREJA

“Tidbits From TNT” Monday 5-5-2025

TNT:

Tishwash:  Al-Sudani chairs a meeting of the heads of the boards of directors of Iraqi banks.

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks.

The Prime Minister's media office stated in a statement received by Al-Maalouma Agency that "Prime Minister Mohammed Shia al-Sudani chaired a meeting with the chairmen of the boards of directors of Iraqi banks."   link

Tishwash:  The Foreign Minister arrives in Riyadh on an official visit.

Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fuad Hussein, arrived in the Saudi capital, Riyadh, on Sunday, May 4, 2025, on an official visit aimed at strengthening bilateral relations and continuing consultation and coordination between the two brotherly countries.

The Minister was received upon arrival by Deputy Foreign Minister Walid bin Abdul Karim Al-Khuraiji and the Ambassador of the Republic of Iraq to the Kingdom of Saudi Arabia, Ms. Safiya Talib Al-Suhail.

Mr. Fuad Hussein is scheduled to meet with his Saudi counterpart, Faisal bin Farhan, to discuss ways to strengthen relations between Iraq and the Kingdom of Saudi Arabia, in addition to discussing regional and international developments, the challenges facing the region, and ways to support joint Arab action.

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

Tishwash:  Iraq is in the crosshairs of international negotiations. Negotiations by major powers shape the contours of crises or opportunities for a breakthrough.

 Baghdad Today - Baghdad

Political and strategic affairs researcher Muhammad Ali al-Hakim explained on Monday (May 5, 2025) that the ongoing negotiations between the United States and Iran cast a heavy shadow over Iraq, given the direct and influential influence the two countries have on the Iraqi scene.

Al-Hakim told Baghdad Today, "US-Iranian relations are among the most complex international relations, and any shift in their course will have a direct impact on Iraq, whether positive or negative, depending on the outcome of these negotiations."

He pointed out that "the success of the negotiations will have several positive effects on Iraq, including easing regional tensions, which will reduce the risk of a new conflict and enhance the chances of peace. The economic situation will also improve if sanctions on Iran are lifted, which will open the way for Iraq to expand its trade and economic cooperation with Tehran."

He added that "achieving consensus between Washington and Tehran could also lead to increased international support for Iraq from both sides, which would contribute to the country's stability and stimulate development and investment, as well as reduce the severity of the internal political divide and improve Iraqi-American relations, thus enhancing Iraq's chances of receiving more financial and political support."

In contrast, Al-Hakim warned of the repercussions of the failure of the talks, stressing that "it could rekindle tensions in the region, placing Iraq at the heart of new crises, with the potential for its economy to decline due to continued sanctions on Iran and the difficulty of engaging economically with it."

He also warned that "the failure of the negotiations could exacerbate political tensions within Iraq and intensify polarization between forces affiliated with the Iranian axis and those loyal to the United States, potentially opening the door to new internal crises."

Al-Hakim concluded his remarks by saying, "Despite three rounds of indirect talks between Tehran and Washington, mediated by Oman, Iraq's fate remains tied to the outcome of these negotiations. Their success serves Iraq's national security interests, while their failure could bring further crises."

The United States and Iran have been locked in a complex political and economic conflict for years, beginning with the Iranian Revolution in 1979 and culminating with Washington's withdrawal from the nuclear agreement in 2018 and imposing severe sanctions on Tehran.

With tensions escalating in the Middle East, Iraq has become an indirect arena for this conflict, given the presence of US forces and Iran's extensive political and economic influence there.

Despite attempts at calming the situation through international mediation, most notably Omani mediation, negotiations remain at a standstill, with Iraq remaining the country most affected by the fluctuations in relations between Tehran and Washington.   link

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

Tishwash:  The Minister of Finance breaks her silence on the withdrawal of tax deposits 

Finance Minister Taif Sami explained, on Sunday (May 4, 2025), the mechanism for withdrawing tax deposits and converting them into final revenues.

Sami said in a statement to the official agency, followed by "Baghdad Today", that "the special account for tax deposits opened at the Central Bank of Iraq in the name of the Ministry of Finance, Accounting Department, which concerns the amounts collected from taxpayers, most of which are considered final revenue for the state treasury (tax revenues) according to the applicable laws," indicating that "these amounts are temporarily deposited in an intermediate account, which is the (tax deposits) account, until the final tax accounting procedures are completed by the taxpayers and the General Tax Authority."
She added, "In light of this, it is determined whether the tax accounting is equal to the amount paid by him as deposits, the deposit amounts are reflected in the final revenue. However, if the tax accounting is greater than the amount paid, the taxpayer pays the difference to the public treasury. However, if the tax accounting is less than the amount paid by the taxpayer, the difference is returned to the taxpayer."

She continued, "All remaining amounts are reflected in this account after completing the tax accounting as a final revenue for the state treasury (tax revenues)," noting that "withdrawing tax deposit amounts is a normal procedure according to Cabinet Resolution No. (294) of 2025, as these amounts are considered final revenue for the state treasury as the final result of tax accounting."

The Cabinet resolution, in its 15th regular session held on 4/15/2025, included approval to authorize the Minister of Finance to withdraw tax deposit amounts that are less than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of April and subsequent months deposited in the Ministry of Finance's account at the Central Bank of Iraq (70019), which it will deposit later according to the state's overall need, provided that the cash settlement is made monthly when requested by reversing the deposit amount from the actual revenues collected monthly when conducting the tax accounting.

The Minister of Finance explained that "the procedure is normal to maximize resource revenues and control them of all kinds," indicating that "most taxpayers do not visit the departments to complete their tax accounting dues, with the aim of evading the imposed tax."
She stressed that "the ministry has lists of the names, numbers and amounts of taxpayers and companies that owe money at the General Tax Authority and the Accounting Department, to refer to in the event that taxpayers visit the Authority."

Sami pointed out that “the remaining amounts reflect:
1- Upon receipt of amounts from taxpayers before the final settlement (estimation of the tax amount) from the bank account to the tax deposit account (taxpayer)
2- Upon final settlement with the taxpayer:
A- If the final tax settlement amount is equal to the amount of deposits paid, the entry shall be
as follows:
From the tax deposit account (taxpayer)
to the final revenue account (tax revenue)
B- If the final tax settlement amount is greater than the amount paid as deposits, the taxpayer shall pay the difference as a final revenue to the state treasury according to the following entry:
From the bank account (difference amount) From the taxpayer
to the final revenue account (tax revenue).
She added, "The amounts of tax deposits paid by the taxpayer are reflected as final revenue according to the following entry:
From the account / tax deposits (taxpayer)

To the account / Tax revenues
C - If the final tax settlement is less than the amount paid by the taxpayer, the difference amount shall be returned to the taxpayer and the remaining amount shall be reflected in the final revenue according to the following compound entry:
From the account / Tax deposits (the taxpayer)
To the aforementioned
account / Final revenue (Tax revenues)
account / Bank The difference that shall be returned to the taxpayer)

The Council of Ministers decided in its fifteenth regular session held on 4/15/2025 to approve the following:
1- Authorizing the Minister of Finance to withdraw the amounts of tax deposits that are not more than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of the month of April and subsequent months deposited in the Ministry of Finance’s account at the Central Bank of Iraq (70019), which it will deposit later according to the need for the total state, provided that the cash settlement is carried out monthly when requested by reversing the amount of deposits from the actual revenues collected monthly when conducting the tax settlement.
2- The ministries, entities not affiliated with a ministry, governorates and governorate councils shall implement the contents of the Ministry of Finance's circular No. (36) S/357 dated 4/8/2025 (attached), for the purpose of expediting tax accounting and settlement procedures within a maximum of (10) days starting from the date of issuance of this decision.

3- Holding accountable those who fail to implement the provisions of the Income Tax Law (113 of 1982 as amended) and delaying the settlement of financial liabilities resulting from the delay in tax accounting and financing all tax revenue amounts and the amount of tax deposit settlement on a timely basis.
4- The General Tax Authority shall impose the fines stipulated in the provisions of paragraph (4) of Article (56) of the aforementioned Income Tax Law. link

Mot: Julie Andrews Turning 79 - this is hysterical!

To commemorate her birthday , actress/vocalist, Julie Andrews made a special appearance at Manhattan's Radio City Music Hall for the benefit of the AARP. One of the musical numbers she performed was 'My Favorite Things' from the legendary movie 'Sound Of Music'. Here are the lyrics she used:

(Sing It!) - If you sing it, its especially hysterical!!! )

Botox and nose drops and needles for knitting,

Walkers and handrails and new dental fittings,

Bundles of magazines tied up in string,

These are a few of my favorite things.

Cadillacs and cataracts, hearing aids and glasses,

Polident and Fixodent and false teeth in glasses,

Pacemakers, golf carts and porches with swings,

These are a few of my favorite things.

When the pipes leak, When the bones creak,

When the knees go bad,

I simply remember my favorite things,

And then I don't feel so bad.

Hot tea and crumpets and corn pads for bunions,

No spicy hot food or food cooked with onions,

Bathrobes and heating pads and hot meals they bring,

These are a few of my favorite things.

Back pain, confused brains and no need for sinnin',

Thin bones and fractures and hair that is thinnin',

And we won't mention our short shrunken frames,

When we remember our favorite things.

When the joints ache, When the hips break,

When the eyes grow dim,

Then I remember the great life I've had,

And then I don't feel so bad

Iraq Economic News And Points To Ponder Monday Morning 5-5-25

No Indications Of Liquidity Crisis... Rafidain Bank Declares The Country's Financial Situation Sound

Economy | 04:39 - 04/05/2025  Mawazine News - Baghdad - Rafidain Bank denied, on Sunday, rumors of a liquidity crisis or banking panic, stating that the bank's financial position is strong and solid.

The bank's media office said in a statement received by Mawazine News that "the bank has a legal reserve of more than 8 trillion dinars deposited with the Central Bank of Iraq," noting that "liquidity is available, deposits are secure, and there are no emergency withdrawal requests or operational imbalances."

The statement pointed out that "Rafidain Bank is not just a bank, but a sovereign pillar of the state's economy at a time when it is impossible to compare it with banking collapses in other countries," stressing that "it is dangerous to drag banks into political and media controversy." https://www.mawazin.net/Details.aspx?jimare=261132

Al-Nusairi: Comprehensive Banking Reform Means Modernizing And Developing Banks, Ensuring Their Compliance With International Standards, And Transitioning To A Rapidly Growing Economy.

Banks   Economy News – Baghdad  Economic and banking advisor Samir Al-Nusairi confirmed that the banking reform project launched by the Central Bank last month in cooperation with the government and the global consulting firm Oliver Wyman was held at a ceremony attended by the Prime Minister.

Al-Nusairi said in a televised interview followed by "Al-Eqtisad News" that the banking reform project aims primarily, within the specified timeframes, to modernize and develop the private banking sector, comply with international standards, transition to a rapidly growing national economy, expand digital transformation, enhance financial inclusion, stimulate electronic payments, strengthen cybersecurity, use artificial intelligence to analyze and ensure the transparency of banking data, create a financial center, and authorize and license digital banks.

He added that it achieves stimulating and sustainable returns for investors, creates a fair competitive environment in the banking market, and restores confidence in the banking sector.

He explained that the private banking sector achieved good business results in 2024, despite 50% of our banks being subject to sanctions and restrictions on the use of the US dollar. The ratio of credit granted to deposits reached 67.9%, which means the banks are moving towards the real work of financing and investing in deposits.

The banks’ capital rose to 20 trillion dinars, an increase of 8.7% due to the implementation of the Central Bank’s instructions to raise capital to 400 billion dinars and setting September 30, 2025 as the deadline for increasing the capital of the remaining banks.

Al-Nusairi pointed out that the objectives set for banking reform are in line with the main and sub-objectives of the Central Bank's third strategy for the years 2024-2026, which comprises 7 main objectives, 24 sub-objectives, and 75 initiatives to achieve these objectives.

The Central Bank's management is working to implement them in accordance with approved policies and programs and in cooperation with relevant authorities.   https://economy-news.net/content.php?id=55098

In Detail, The Minister Of Finance Explains The Mechanism For Converting Tax Deposits Into Revenue.

Sunday, May 4, 2025, 19:14 | EconomicNumber of reads: 157   Baghdad / NINA / Finance Minister Taif Sami clarified, on Sunday, the mechanism for withdrawing tax deposits and converting them into final revenues.

Sami said in a press statement, "The special account for tax deposits opened at the Central Bank of Iraq in the name of the Ministry of Finance, Accounting Department, which pertains to the amounts collected from taxpayers, most of which are considered final revenue for the state treasury (tax revenues) according to the applicable laws,"

indicating that "these amounts are temporarily deposited in an intermediate account, which is the (tax deposits) account, until the final tax accounting procedures are completed by the taxpayers and the General Tax Authority."

She added, "In light of this, it is determined whether the tax accounting is equal to the amount paid by the taxpayer as deposits, the amounts of the deposits are reflected in the final revenue.

However, if the tax accounting is greater than the amount paid, the taxpayer pays the difference to the public treasury. However, if the tax accounting is less than the amount paid by the taxpayer, the difference is returned to the taxpayer."

Sami continued, "All remaining amounts are reflected in this account after completing the tax accounting as a final revenue for the state treasury (tax revenues)," noting that "withdrawing tax deposit amounts is a normal procedure according to Cabinet Resolution No. (294) of 2025, as these amounts are considered final revenue for the state treasury as the final result of tax accounting."

 The Cabinet resolution, in its 15th regular session held on 4/15/2025, included approval to authorize the Minister of Finance to withdraw tax deposit amounts that are less than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of April and subsequent months deposited in the Ministry of Finance's account at the Central Bank of Iraq (70019),

which it will deposit later according to the state's overall need, provided that the cash settlement is made monthly when requested by reversing the deposit amount from the actual revenues collected monthly when conducting the tax accounting.

The Minister of Finance explained that "the procedure is normal to maximize resource revenues and control them of all kinds," indicating that "most taxpayers do not visit the departments to complete their tax accounting dues, with the aim of evading the imposed tax."

She stressed that "the ministry has lists of the names, numbers and amounts of taxpayers and companies that owe money at the General Tax Authority and the Accounting Department, to refer to in the event that taxpayers visit the Authority."

Sami pointed out that “the remaining amounts reflect:

1- Upon receipt of amounts from taxpayers before the final settlement (estimation of the tax amount) from the bank account to the tax deposit account (taxpayer)

2- Upon final settlement with the taxpayer:

A- If the final tax settlement amount is equal to the amount of deposits paid, the entry is
as follows:

From the tax deposit account (taxpayer) to the final revenue account (tax revenue)

B- If the final tax settlement amount is greater than the amount paid as deposits, the taxpayer pays the difference as a final return to the state treasury according to the following entry:

From the bank account (difference amount) from the taxpayer to the final revenue account (tax revenue).

She continued, "The amounts of tax deposits paid by the taxpayer are reversed as final revenue according to the following entry:

From the account / tax deposits (taxpayer)  to the account / tax revenues

C - If the final tax settlement is less than the amount paid by the taxpayer, the difference amount is returned to the taxpayer and the remaining amount is reflected in the final revenue according to the following compound entry:

From the account / tax deposits (taxpayer) to the aforementioned
account / final revenue (tax revenues)
account / bank difference that is returned to the taxpayer)

The Council of Ministers decided in its fifteenth regular session held on 4/15/2025 to approve the following:

1- Authorizing the Minister of Finance to withdraw the amounts of tax deposits that have not been in effect for five years, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of the month of April and subsequent months deposited in the Ministry of Finance’s account at the Central Bank of Iraq (70019), which it will deposit later according to The need for the state's total, provided that the cash settlement is carried out monthly when requested by reversing the amount of deposits from the actual revenues collected monthly when conducting tax accounting.

2- Implementation by ministries, entities not affiliated with a ministry, governorates and governorate councils of the contents of the Ministry of Finance's circular No. (36) S / 357) dated 4/8/2025 (attached), for the purpose of expediting tax accounting and making settlements within a maximum of (10) days starting from the date of issuance of this decision.

3- Holding accountable those who failed to implement the provisions of the Income Tax Law (113 of 1982 as amended) and delaying the settlement of financial liabilities resulting from the delay in conducting tax accounting and financing all amounts of tax revenues and the amount of tax deposit settlement on a timely basis.

4- Imposing the General Tax Authority the fines stipulated in the provisions of paragraph (4) of Article (56) of the aforementioned Income Tax Law. https://ninanews.com/Website/News/Details?key=1224650

Iraq Ranked Fifth Among The Largest Oil Exporters To The United States Last Week.

Sunday, May 4, 2025| EconomicNumber of reads: 280   Baghdad / NINA / The US Energy Information Administration announced, on Sunday, that Iraq ranked fifth among the largest oil exporters to the United States during the past week.

The administration stated in a table that "the average US imports of crude oil during the past week from ten major countries amounted to 5.093 million barrels per day, an increase of 262 thousand barrels per day compared to the previous week, which amounted to 4.831 million barrels per day."

It added that "the average of Iraq's oil exports to America amounted to 141 thousand barrels per day, thus ranking fifth as the largest oil exporter to America during the past week."

The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Mexico, Nigeria, and then Saudi Arabia."

According to the table, "the amount of US imports of crude oil continued from Colombia, Venezuela, Brazil, Ecuador, and Libya." /End   https://ninanews.com/Website/News/Details?key=1224545

Dollar Prices Stabilize In Baghdad Markets

Stock Exchange  Economy News – Baghdad   The US dollar exchange rate stabilized in Baghdad markets on Sunday morning.

The dollar exchange rate stabilized on the Al-Kifah and Al-Harithiya stock exchanges, recording 144,750 Iraqi dinars per $100, the same rate as on Saturday morning.

Selling prices at exchange offices in Baghdad's local markets remained stable, with the selling price reaching 145,750 Iraqi dinars per $100, and the buying price reaching 143,750 dinars per $100. https://economy-news.net/content.php?id=55100

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

Seeds of Wisdom RV and Economic Updates Monday Morning 5-5-25

Good Morning Dinar Recaps,

SAY NO TO CRYPTO LEGISLATION, SENATOR WARREN URGES SENATE ON SHADY TRUMP DEAL

Senator Elizabeth Warren has criticized the Trump family’s involvement in the crypto industry, particularly the newly launched USD1 stablecoin.

▪️ Backed by US Treasuries, USD1 will reportedly serve as the settlement currency for a $2 billion investment from Abu Dhabi-backed MGX.
▪️ Warren has raised alarm about the GENIUS Act, which aims to establish a US regulatory framework for stablecoins.
▪️ She alleges the bill could facilitate financial profiteering by Trump and his associates, labeling it as a move that "greenlights corruption".

US Senator Elizabeth Warren has raised major red flags about Donald Trump’s association with the crypto industry and the recent $2 billion deal backed by the United Arab Emirates, calling it a pathway to huge corruption. As a result, she has urged the US Senate to stop the crypto legislation and the GENIUS Act, ahead of this week.

Senator Warren Attacks USD1 Stablecoin

In her fresh attack on the Trump family, Massachusetts Senator Elizabeth Warren referred to the newly launched USD1 stablecoin, backed by short-term US Treasuries. This stablecoin has been issued by Donald Trump’s DeFi project, World Liberty Financial.

The global stablecoin market currently surpasses $245 billion in circulation. According to CoinGecko, USD1 ranks seventh among stablecoins, with most being backed by short-term US Treasuries and other real-world debt instruments.

World Liberty’s USD1 will play a pivotal role as the settlement currency for MGX’s $2 billion investment in Binance, the global cryptocurrency exchange.

Abu Dhabi’s sovereign wealth fund is backing MGX, with Witkoff publicly announcing the deal last week during a crypto convention in Dubai, seated alongside Eric Trump.

Stop Crypto Legislation aka GENIUS Act

Senator Elizabeth Warren has been actively questioning Donald Trump’s association with the crypto industry, adding that the President and his peers are filling up their pockets by bending the rules.

While referring to the crypto legislation aka the GENIUS Act last week, which seeks to establish the first US regulatory framework for stablecoins, Senator Warren said:

“This is a bill that would make it even easier for the president and his family to profit off their own stablecoin and oversee their own financial company.”

While further questioning the Senate’s inaction in a Trump-associated crypto deal, Senator Warren called it “corruption in plain sight”. She warned that by advancing related legislation, lawmakers are effectively “greenlighting the grift.”

The GENIUS Act bill, sponsored by Senator Bill Hagerty (R-TN), gained bipartisan backing in March when it passed the Senate Banking Committee and is set for a floor vote this week.

@ Newshounds News™
Source:  CoinSpeaker

~~~~~~~~~

CARDANO JOINS LINUX FOUNDATION’S CONFIDENTIAL COMPUTING CONSORTIUM

Cardano has become the newest member of the Linux Foundation’s Confidential Computing Consortium (CCC), a move that places the open-source blockchain alongside tech giants like Microsoft and Amazon in the fast-growing arena of hardware-based data protection.

The announcement came during a one-hour “Midnight Booth” fireside chat at Consensus, where Charles Hoskinson (CEO of Input Output) and Eran Barak (CEO of the Midnight development company) laid out how confidential computing will anchor Cardano’s privacy-first sidechain, Midnight.

“We just recently joined the Confidential Computing Consortium... We’re right there with Microsoft and Amazon with Nitro,” Hoskinson told the audience.

Cardano’s Entry into Hardware-Based Privacy

The CCC sets cross-industry specifications for enclave-based security. Cardano’s membership signals an intent to align Midnight’s zero-knowledge roll-ups and DID (Decentralized Identifier) stack with emerging hardware security standards rather than relying purely on cryptographic approaches.

“Midnight basically clicks into all of those different things… you actually get paid for sharing these things as opposed to it all goes to the Magnificent Seven,” said Hoskinson, referencing dominant Big Tech firms.

Cardano Takes Next Step in Secure Blockchain

Hoskinson traced the inspiration for Midnight to “a bar in Tel Aviv” during Eurocrypt 2018, where a debate on zero-knowledge proofs matured into a new sidechain project featuring:

• A Stark-based execution engine (“Kachina”)

• A dual-token economic model:

• “Knight” for governance

• “Dust” for metered capacity

• Selective-disclosure controls using W3C DIDs

“Enterprise adoption hinges on hardware-rooted trust,” said Barak.
“Confidential computing supplies that final layer.”

Why Confidential Computing Matters

“When you think about protecting your data, you really need to protect the data and the metadata,” said Barak.

By joining the CCC, Cardano gains influence in shaping:

• Chipset specifications

• Enclave attestation protocols

• Open-source reference code

Midnight aims to become the secure foundation that enables AI to access private data without violating user rights.

Regulatory Design: The Two-Asset Model

The session highlighted Midnight’s design that splits volatile and stable components:

• “Knight” = value-accruing governance token

• “Dust” = stable, non-speculative usage token

“You get your cake and eat it, too… developers can pay in Bitcoin or Ether or Solana... end users won’t notice they’re using a different system,” said Hoskinson.

This sidesteps common regulatory concerns seen in privacy coins like Monero, by separating consensus incentives from fee mechanisms.

Hardware-Backed Privacy for Compliance

Confidential computing strengthens blockchain privacy at the hardware level:

• Enclave-based execution seals wallet keys, ZK circuits, and DID registries

• Cryptographic attestation allows regulators to verify compliance

“Selective disclosure is an absolute necessity,” Hoskinson emphasized.
“Disclosure rules can be embedded in smart contracts, and exchanges decide compliance.”

Looking Ahead: Tokenized Assets and Enterprise Use

Cardano’s CCC membership coincides with a growing push toward tokenizing real-world assets, a market Hoskinson estimates at:

• $10+ trillion today

• $100 trillion in the future

Midnight must interoperate with both legacy financial venues (e.g., NYSE) and on-chain liquidity pools.

“You want broker-dealers, compliance, circuit breakers, and blockchain tech... Midnight is the only way to really do that,” he said.

2,000+ Builders Already on Midnight

Barak reported over 2,000 testnet developers building projects including:

• Dark-pool trading prototypes

• Encrypted medical record systems

• Jet engine carbon-credit tracking

Because code/state is encrypted, even IO’s team cannot inspect what is deployed—ensuring privacy-first development.

“If we finally bring blockchain technology with privacy businesses actually need, the innovation is just unbelievable,” Barak concluded.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

MilitiaMan & Crew: Iraqi Dinar Update-Truth no Rumours-Transparency-International Institutions & Oracle Flexcube global

MilitiaMan & Crew:  Iraqi Dinar Update-Truth no Rumours-Transparency-International Institutions & Oracle Flexcube global

5-4-2025

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=eOPDQd5rS-E

The U.S. Is 80% Broke, And No One Realizes It, The Fed Caused This, and Can’t Fix It | Chris Whalen

The U.S. Is 80% Broke, And No One Realizes It, The Fed Caused This, and Can’t Fix It | Chris Whalen

Soar financially:  5-4-2025

In this explosive episode, Chris Whalen, Chairman of Whalen Global Advisors and Wall Street veteran, delivers an unfiltered breakdown of what’s next for the U.S. economy.

From the Fed’s policy blunders to a looming 20% housing market correction, Chris lays out what most analysts refuse to say.

 We cover the fintech credit crisis, inflation’s true cause, commercial real estate’s silent implosion, and why gold is set to become a central bank favourite again. Buckle up — this one’s packed.

00:00 - Gold Can’t Absorb a Market Exodus

00:52 - Meet Chris Whalen

02:00 - Global Outlook: Europe vs U.S.

 03:40 - Are We Near Recession?

05:00 - The Fed’s Hubris & Debt Fallout

07:00 - 20% Housing Price Crash Coming

 09:00 - Mortgage Rates at 7%: What It Means

12:00 - Why the Fed Missed Its Chance

14:00 - Rent-to-Own, FHA, and Housing Stress

 16:00 - Inflation vs. Stagflation Debate

18:00 - Trump, Fed Politics, and Treasury Moves

19:30 - Jobs Report Surprises & What It Signals

 21:00 - Big Government vs. Shrinking Private Sector

22:30 - Fintech, Credit Risks, and Buy Now Pay Later

25:00 - Market Outlook, Valuations, and Gold Strategy

 29:00 - Gold, Basel III, and Silver as Reserve Assets

https://www.youtube.com/watch?v=UgL8rPuhvYE

News, Rumors and Opinions Sunday PM 5-4-2025

KTFA:

Clare:  Granting a license to Al-Hawd Exchange Company / Private Joint Stock Company under Category (A)

May 04, 2025

It was decided to grant a license to practice work as a private joint-stock exchange company under category (A) in the name of Al-Hawd Exchange Company, numbered (99) for the year 2025. For more, click here.

https://cbi.iq/news/view/2879

Clare:  The Central Bank's branch in Erbil holds a development course for its employees.

The Central Bank of Iraq, Erbil Branch, held a "Middle Management Course" for some of its employees.

The course covered the basic aspects of developing participants' skills, including basic information in the administrative, legal, banking, financial, and monetary fields.

It is worth noting that developing the organizational structure and human resources at the Central Bank is a strategic objective pursued by the Central Bank of Iraq to develop its human resources, enhance their capabilities, enhance the effectiveness of their performance, and qualify them administratively and professionally.

Central Bank of Iraq
Media Office
May 4, 2025

https://cbi.iq/news/view/2881

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

Clare:  The Central Bank concludes financial inclusion activities in Sulaymaniyah.

The Central Bank of Iraq's Erbil branch concluded financial inclusion activities in Sulaymaniyah Governorate.

The event lasted for two days and was attended by a number of banks and electronic payment service providers.

The first day's event was held at the College of Administration and Economics, University of Sulaimani, while the second day's events were held at the International Finance and Trade Center in Sulaimani.

Central Bank of Iraq
Media Office
May 4, 2025

https://cbi.iq/news/view/2880

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

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

Bruce   [via WiserNow]  I think we're going to end up getting notifications between Sunday and Monday.

Pimpy   The only thing keeping Iraq back from having the exchange rate of $3.22 is Iraq...Sudani seems to be getting everything back on track.  Keep your fingers crossed that no more things come in and interfere with the rebuilding of Iraq.  Then you can start to see it, slowly but surely, rebuilding the value of its currency.  Having a ton of foreign currency reserves helps.  Having a ton of gold helps as well.

Sandy Ingram  Iraq and the United States are working closely behind closed doors.  Behind closed doors the United States, IMF and World Bank have a lot to do with the timing of the float of the Iraqi dinar and Iraq's release from the shadow sanctions.  

$10,000 Gold This Year? Monetary Reset Breadcrumbs In Plain Sight | Mike Maloney

4-30-2025

Is the U.S. preparing for a monetary reset backed by gold?

 In this powerful exposé, we follow the trail of breadcrumbs—from historical cycles and central bank actions to the massive inflows of gold into U.S. vaults.

 Discover how past monetary transitions line up with today’s geopolitical and financial chaos, and why a $10,000 gold price may be more than just speculation—it could be imminent reality.

Inside This Video:

The 50-year monetary reset cycle

 Surging U.S. gold imports and Fort Knox whispers

 Treasury officials hinting at a new gold standard

A step-by-step breakdown of how gold could hit $10,000

https://www.youtube.com/watch?v=GGsWLA7s9Ow

Iraq Economic News And Points To Ponder Sunday Afternoon 5-4-25

Finance: Rafidain And Rashid Banks Maintain High Liquidity And Cash Reserves That Exceed The Ratios Set By The Central Bank.
 
Saturday, May 3, 2025 09:06 | Economic     Number of readings: 359  Baghdad / NINA / The Ministry of Finance confirmed:
 
"Rafidain and Rashid banks maintain high liquidity and cash reserves that exceed the percentages set by the Central Bank." The ministry said in a statement:

"Referring to what was circulated by some media outlets and social media platforms,
 
and what was attributed to a number of MPs regarding the government withdrawing the balances of Rafidain and Rashid banks,
 
there are those who understand the political competition, whether ignorantly or intentionally, as the promotion of lies and rumors or an attempt to spread false information with the aim of incitement and spreading confusion, and
 
 this is what the government considers the worst type of electoral discourse, because it evades moral responsibility."

She explained:  "The funds withdrawn do not represent citizens' deposits or insurance balances in banks, but rather belong to the Ministry of Finance's sovereign accounts.
 
They were kept in those banks as a temporary operating tool, and 
after the need for them ceased, and in accordance with financial and administrative instructions, they were transferred to be reallocated within the general budget."

She added:  "Comparing these measures to the experiences of banking collapses in other countries is inaccurate and ignores the unique legal and regulatory structure of the Iraqi banking sector, which is subject to the supervision of the Central Bank and applies strict regulations in the field of compliance and governance." She pointed out that:
 
"Rafidain and Rashid Banks maintain high liquidity and cash reserves that exceed the percentages set by the Central Bank, and  they perform their duties regularly in disbursing salaries, financing projects, and fulfilling obligations to customers."

 She pointed out that Rafidain Bank's legal reserves at the Central Bank currently stand at approximately 9 trillion Iraqi dinars, reflecting the strength of its financial position.
 
“In recent days, some have resorted to feeding some local agencies, news pages and social media bloggers that the government has resorted to withdrawing Rafidain Bank’s reserves in order to fill the liquidity shortage,” she continued, explaining:
 
“The latest letter issued by the Central Bank of Iraq, dated April 24, proves beyond doubt that Rafidain Bank’s unused mandatory reserves have reached 4 trillion and 277 billion dinars, while
 
the used reserves have reached 4 trillion and 263 billion dinars.

Thus, Rafidain Bank’s total reserves at the Central Bank
exceed 8 trillion and 540 billion dinars, as
they have not been touched in any way, shape or form.” The ministry explained, "The
 
thefts that previously affected some trust accounts
occurred because these funds were left unattended for long periods,
creating technical loopholes that were exploited by corrupt networks.
 
New oversight measures have been implemented in
coordination between the bank and the Ministry of Finance to mitigate these risks."  The Ministry of Finance stressed that:
 
“Criticism that resorts to falsifying facts and spreading information that has no basis in truth is a destructive act that seeks to undermine the government’s achievements that citizens have witnessed in various fields,” indicating that:
 
“The levels of financial and economic transparency that the
government is working with are an unprecedented path,
 
witnessed by major international financial institutions, and they have
 
     raised the
          level of Iraq’s credit rating and
          confidence in its economy,
     attracted global investments, and are now
          creating job opportunities and
          fueling development,
 
after the Iraqi economy was captive to rent and dependence on oil.” She stressed that
 
"the government will continue  
 
     its approach to economic reform,
     strengthening
          banking operations, and
          financial management,
 
and will not stop at cheap lies aimed at disrupting and undermining the trust citizens have placed in the government's approach and objectives."
 
The Ministry called on all media professionals and social media users to be accurate and assume national responsibility when addressing financial issues, stressing that the doors of the Ministry and banks are open to anyone who wishes to have a professional look at official data and reports.   https://ninanews.com/Website/News/Details?key=1224345  

Al-Kadhimi Explains The Government's Motives For Using Tax Trust Funds.
 
    May 3, 17:50  Information / Special..  Parliamentary Finance Committee member Moeen Al-Kadhimi revealed on Saturday that
 
delays in financial transfers from the US Federal Reserve were the primary reason behind the
Ministry of Finance resorting to using tax deposit funds to secure employee salaries and cover basic expenses.
 
Al-Kadhimi told Al-Maalouma News Agency that
 
"the weak flow of funds from oil sales revenues held in Iraq's account at the US Federal Reserve has led the Ministry of Finance to resort to using tax deposit funds to secure employee salaries for April and the coming months."  He explained that
 
"Iraq sells approximately 3.3 million barrels of oil daily, and
the proceeds are deposited in a special account at the US Federal Reserve.
 
However, these funds are not transferred directly domestically,
but rather are disbursed via remittances directed to traders to import various goods."  He pointed out that
 
"some of these remittances are delayed,
leading to a decline in the flow of Iraqi dinars into the local market,
 
thereby impacting the ability of the Ministry of Finance and the Central Bank to meet internal obligations, most notably salaries."  He added that
 
"the Minister of Finance submitted a request during the Cabinet meeting to withdraw these funds," noting that
 
"this measure is legally permissible, provided that the amounts are returned to tax funds before the expiration of the legal five-year deadline."
 
It is noteworthy that the Council of Ministers had previously authorized, by an official decision,
the Minister of Finance to withdraw tax deposits that had been deposited less than five years ago, to finance and pay salaries for April and the following months. End 25D    
  
https://almaalomah.me/news/97694/economy/الكاظمي-يوضح-دوافع-لجوء-الحكومة-لاستخدام-أموال-الأمانات-الضر   

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

I’m a Financial Influencer: These Are the 6 Most Common Money Questions I’m Asked

I’m a Financial Influencer: These Are the 6 Most Common Money Questions I’m Asked

Nicole Spector  GOBankingRates

With general financial literacy and better financial planning exploding on social media, millions of folks are turning to financial influencers to get their money questions answered without breaking the bank.

What are people the most curious or confused about? What are they reaching out to financial influencers to find out about? And how do financial influencers answer their queries or point them in the right direction?

GOBankingRates spoke with Jeff Sekinger, a financial innovator and entrepreneur, and the CEO and founder of Nurp LLC. Sekinger courts a following of 1.1 million on Instagram.

These are the six most common money questions he’s asked — along with how he answers them.

Retirement Planning: Whether you're planning for retirement, dealing with a significant life event or simply looking to make smarter financial decisions, a financial advisor can offer the expertise and guidance you need. Here are some compelling reasons why you should consider a financial advisor -- even if you're not wealthy.

‘How Might a Trump Presidency Impact the Economy?’

Sekinger is constantly spammed with burning questions about money. A common one recently revolves around Trump. Specifically, if Trump is re-elected, how would his presidency impact the economy? More specifically, which markets, sectors and companies could benefit?

“A Trump presidency could have significant implications for the economy and markets,” Sekinger said. “Some investors are optimistic that Trump’s policies, like tax cuts and deregulation, could boost the economy and markets. Others are more cautious, citing concerns about Trump’s trade policies and potential geopolitical instability.”

According to Sekinger, companies that could benefit from a Trump presidency are the energy, financial and defense sectors.

“On the other hand, companies in sectors like healthcare and technology might face headwinds,” Sekinger said.

‘What Do I Need To Know To Be A Successful Young Investor?’

Everyone on the path to financial freedom needs to be investing. Investing can be complex, and naturally, people have questions. Commonly Sekinger is asked what you need to know to become a successful young investor.

“As a young investor, time is on your side,” Sekinger said. “Take advantage of compound interest by investing as early as possible, even if it’s just a small amount each month. Consider contributing to a Roth IRA or your employer’s 401(k) plan. Also, educate yourself about investing and avoid getting caught up in get-rich-quick schemes.”

‘How Can I Build Wealth While Managing Student Loan Debt?’

To Read More:  https://news.yahoo.com/news/finance/news/m-financial-influencer-6-most-140125604.html    

Iraqi Dinar Breaking News: Iraqi Bank to Launch in America, Massive Shift for Iraqi Dinar and Dollar Transfers

Iraqi Dinar Breaking News: Iraqi Bank to Launch in America, Massive Shift for Iraqi Dinar and Dollar Transfers

5-3-2025

In a move that could significantly impact the Iraqi Dinar (IQD) and strengthen financial ties between the United States and Iraq, Iraq is officially launching its first bank in the U.S.

This landmark event, backed by the Central Bank of Iraq and the U.S. Treasury, is poised to revolutionize how IQD is handled and offer unprecedented opportunities for those holding the currency.

For years, navigating the complexities of exchanging IQD for USD has been a challenge, often involving third-party intermediaries and potential risks. This new bank aims to streamline the process and provide a secure, legitimate channel for converting IQD to USD directly on American soil.

This launch represents a significant vote of confidence in the Iraqi economy and its currency. The regulatory approvals from both the Central Bank of Iraq and the U.S. Treasury underscore the importance of this initiative for strengthening bilateral financial relations.

For individuals holding Iraqi Dinar, this new bank offers a legitimate and potentially more profitable avenue for managing their assets. The direct exchange rates and reduced fees could significantly improve the return on investment for IQD holders.

It’s crucial to stay informed about the bank’s operational details, verification processes, and exchange rates to make informed decisions.

The launch of Iraq’s first official bank in the United States is a groundbreaking development with the potential to reshape the landscape of Iraqi Dinar transactions and deepen the economic relationship between the U.S. and Iraq.

Whether you are an existing IQD holder or simply observing Iraq’s economic progress, this is a pivotal moment that warrants close attention. By facilitating direct exchanges, eliminating middlemen, and providing secure redemption options, this bank is poised to become a game-changer for the Iraqi Dinar and a testament to Iraq’s growing financial stability.

Watch the video below from Iraqi Dinar Breaking News for more information.

https://youtu.be/dfgIM6YkV3g

https://dinarchronicles.com/2025/05/03/iraqi-dinar-breaking-news-iraqi-bank-to-launch-in-america-massive-shift-for-iraqi-dinar-and-dollar-transfers/

“Tidbits From TNT” Sunday 5-4-2025

TNT:

Tishwash:  Al-Nusairi: Comprehensive banking reform means modernizing and developing banks, ensuring their compliance with international standards, and transitioning to a rapidly growing economy.

Economic and banking advisor Samir Al-Nusairi confirmed that the banking reform project launched by the Central Bank last month in cooperation with the government and the global consulting firm Oliver Wyman was held at a ceremony attended by the Prime Minister.

Al-Nusairi said in a televised interview followed by "Al-Eqtisad News" that the banking reform project aims primarily, within the specified timeframes, to modernize and develop the private banking sector, comply with international standards, transition to a rapidly growing national economy, expand digital transformation, enhance financial inclusion, stimulate electronic payments, strengthen cybersecurity, use artificial intelligence to analyze and ensure the transparency of banking data, create a financial center, and authorize and license digital banks.

 He added that it achieves stimulating and sustainable returns for investors, creates a fair competitive environment in the banking market, and restores confidence in the banking sector.

He explained that the private banking sector achieved good business results in 2024, despite 50% of our banks being subject to sanctions and restrictions on the use of the US dollar. The ratio of credit granted to deposits reached 67.9%, which means the banks are moving towards the real work of financing and investing in deposits. The banks’ capital rose to 20 trillion dinars, an increase of 8.7% due to the implementation of the Central Bank’s instructions to raise capital to 400 billion dinars and setting September 30, 2025 as the deadline for increasing the capital of the remaining banks.

Al-Nusairi pointed out that the objectives set for banking reform are in line with the main and sub-objectives of the Central Bank's third strategy for the years 2024-2026, which comprises 7 main objectives, 24 sub-objectives, and 75 initiatives to achieve these objectives. The Central Bank's management is working to implement them in accordance with approved policies and programs and in cooperation with relevant authorities.  link

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

Tishwash:  An economist proposes solutions to address the liquidity shortage in Iraq.

Financial and economic affairs expert Ahmed Abdel Rabbo proposed solutions on Saturday to address the liquidity crisis in Iraq, after the Iraqi government withdrew funds from tax deposits. He pointed out that Al-Sudani's government needs a firm will to make bold decisions to prevent the country from sliding into a stifling cash crisis.

Abdel Rabbo said in a press statement followed by (Al-Mada) that "after withdrawing 3.045 trillion dinars from tax deposits to cover salaries, the liquidity crisis in Iraq appears more urgent than ever, which requires urgent government action with a balanced financial formula."\

He added, "Unnecessary expenditures must be rescheduled and non-urgent projects, such as bottleneck projects, postponed to direct resources towards top priorities, and short-term government bonds must be issued to the Central Bank and local banks as a quick internal solution without getting involved in external debt."

He explained that "among the quick solutions are tightening control over foreign bank transfers, regulating the sale of dollars, restoring confidence in local banks, and launching urgent tax collection campaigns targeting large arrears from companies and importers to boost non-oil revenues."

The financial and economic expert stressed the need for "immediate diplomatic action with Washington to ensure the continued flow of oil revenues without disruption or delay, in addition to offering savings bonds to citizens with incentives to attract the dormant cash flow outside the banking system."

Abdel Rabbo concluded by saying, "At such critical moments, Al-Sudani's government does not need lengthy deliberations, as much as it needs a firm executive will, capable of making bold decisions that preserve the financial balance and prevent the country from slipping into a stifling currency crisis, the repercussions of which could accelerate within weeks."  link

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

Tishwash:  The Iraqi economy and the risks of limited diversification

Dr. Haitham Hamid Mutlaq Al-Mansour

The Iraqi economy is experiencing a gap between the government's efforts to promote growth on the one hand, and the structural challenges that hinder growth and stability on the other. Although Iraq possesses enormous oil wealth, ranking third in the world in oil reserves, its near-total dependence on crude oil exports, which account for more than 90% of general budget revenues, makes it vulnerable to global market fluctuations and hinders the diversification of its production base.

This limits its resilience to external shocks and limits the national economy's response to reform requirements.

Overall activity indicates that the Iraqi economy is witnessing development in oil production infrastructure, such as joint ventures with international companies in the Majnoon and West Qurna fields, for example. This has led to an increase in total production to approximately 3.5 million barrels per day since the end of 2023, with plans to reach 5 million barrels in the coming years.

This is in addition to improved resource management following the approval of the Oil and Gas Law, which has not yet been fully implemented. Meanwhile, we are witnessing an expansion in investment in reconstruction projects in cities such as Mosul and Basra, supported by foreign investment, particularly from the Gulf, and the development of the Grand Faw Port, a strategic project to stimulate foreign trade.

On the other hand, we see a limited trend toward diversification in a few sectors, limited to limited government plans for developing agriculture and industry, such as supporting local production in the food sector, and the launch of the National Development Strategy 2020-2030, which witnessed weak implementation according to the World Bank's assessment. In terms of international economic relations, the use of the Chinese yuan instead of the dollar in oil trade with China is noted, as are agreements with neighboring countries such as Jordan, Egypt, and Saudi Arabia to establish joint industrial zones.

But one of the most prominent challenges facing economic growth and economic reform in general is the scourge of financial and administrative corruption. Iraq ranks low on the Transparency International Index (ranked 154th out of 180). According to World Bank estimates, 30% of the budget is eroded annually due to corruption. Meanwhile, the employment index suffers from high levels of unemployment and disguised unemployment. The unemployment rate exceeds 15%, reaching 30% among youth. This is due to increasing levels of public spending, its high contribution to total employment, and the prevalence of disguised unemployment among more than 4 million employees. Inflation is also expected to rise to approximately 7% by the end of 2024.

After oil prices witnessed a decline due to global demand resulting from the slowdown in Chinese growth and the rise in US interest rates, this affected budget revenues and increased the 2024 budget deficit, which was approved at 198 trillion dinars (about $152 billion), with an expected deficit of 48 trillion dinars (24%), increasing reliance on domestic borrowing.

This brought the domestic public debt to 80 trillion dinars (about $55 billion). Due to the inflation rate, which rose to 7.5% in 2024 compared to 6% in 2023, the value of the dinar decreased against the dollar with the increase in demand for imports due to the lack of flexibility of the local production base. Therefore, the Central Bank took measures to raise the interest rate to 7.5%, in addition to raising the legal reserve ratio from 15-18% and tightening controls on dollar transfers to combat smuggling and money laundering.

Not long ago, the Central Bank's foreign reserves were also witnessing a significant decline, according to the bank's own statistics. The decline reached $7.5 billion as a result of compensatory sterilization measures to mitigate the decline in dollar supply on the parallel market, posing a threat to the government's long-term inflation shield.

Given the real distortions in the Iraqi economy that affect the structure of aggregate demand, spending, and investment, with serious repercussions for the business sector, and in light of the limited government interventions and the expected continued decline in global oil prices, one of the important steps to ensure the success of the economic reform process is to emphasize the reduction of rentierism through the following:

Develop a foreign investment strategy in specific, productive sectors, with a clear plan, objectives, and tools for investment, implementation, oversight, and anti-corruption, including the oil, petrochemical, extractive, and mining sectors.

Strengthening the investment strategy by issuing a package of laws that attract foreign investment and implementing real reforms to raise the expected level of marginal capital efficiency, which will directly impact the movement and direction of private capital and increase its productivity in the sectors mentioned in the first point.

Directing oil revenue savings to investments in infrastructure, education, health, housing, industry, and agriculture, and expanding the scope of derivative investments.

Rationalizing public spending policy and taking measures to ensure financial control and financial sustainability of the depleting economic resource, and coordinating with monetary policy to reform the banking sector and facilitate investment financing through banks to achieve stability and growth.

These signals are likely to achieve economic reform in the financial and real markets, and subsequently increase economic growth through financial compensation from investment returns, reducing the general budget deficit, and enhancing the government's ability to expand non-oil GDP and absorb external shocks.

 This will then increase the sustainability of domestic public debt and achieve low and stable inflation. Otherwise, the Iraqi economy will reach a crossroads: either embark on diversification and stability, or continue its dependence on oil, with the risks of rents and instability   link

Mot:  -- the Story of the ""Hare and Tortoise"" and the ""RV Well of Endless Hope""

Once upon a time, deep in the heart of a quiet forest, lived two unlikely friends: Hare and Tortoise. Hare was a blur of energy, always darting from place to place. Tortoise, slow and thoughtful, preferred the steady path.

One fateful season, a terrible drought gripped the land. The once-green forest faded to shades of brown. Rivers vanished, leaves withered, and the animals grew weak with hunger and thirst. Even Hare—usually full of bounce and chatter—sat slumped beneath a dying tree, his spirit as parched as the earth.

Tortoise noticed. “My friend,” he said gently, “don’t lose heart. Even in the darkest moments, there is a way forward.”

Hare sighed. “But how? The streams are gone. The sun burns everything. There’s no end in sight.”

Tortoise’s eyes gleamed with quiet determination. “They say beyond the hills lies the ""RV Well of Endless Hope"". Its waters can revive even the driest land.”

Hare blinked. “But that’s so far! I’m fast, but I can’t run forever.”

Tortoise smiled. “That’s why we’ll go together. You run ahead, I’ll follow at my own pace. Each of us has a role to play.”

And so they set off. Hare raced across the scorched earth, his legs a blur of determination. Tortoise followed, slow but steady, never stopping, never wavering.

Their journey was not easy. Thorny thickets tore at Hare’s fur. Jagged cliffs tested Tortoise’s footing. The sun blazed relentlessly. Yet they pressed on—Hare driven by hope, Tortoise by faith.

Days turned into weeks. Hare, exhausted and dusty, would pause often, looking back. "Tortoise is still coming," he reminded himself. "I can’t quit now. He believes in me."

At last, they reached the final hill. From its peak, the legendary well sparkled like a jewel in the distance. Hare collapsed, panting. Moments later, Tortoise arrived, covered in dust but smiling.

The ""RV Well of Endless Hope"" shimmered in the sun. Hare dipped a paw into its waters—cool, clear, and radiant. “Is it real?” he whispered.

Tortoise nodded. “Drink. Let hope fill you again.”

Hare drank. Energy surged through him. His legs no longer ached. His heart felt light. “Thank you,” he said softly. “You never gave up on me.”

Tortoise nodded. “And you reminded me that speed alone doesn’t win the journey. Hope, courage, and friendship do.”

Together, they carried water back to the forest. Slowly, the land revived. Leaves unfurled, rivers returned, and laughter echoed once more among the trees.

From that day on, Hare and Tortoise became a legend—not for racing, but for restoring life. They taught others that in times of despair, unity and belief can carry you through.

And whenever someone felt defeated, the animals would say,

“Remember the ""RV Well of Endless Hope.”"

So, dear reader, when the path ahead feels impossible, when the world seems dry and dark—remember Hare and Tortoise. Hope is out there, waiting for you.