Iraq Economic News And Points To Ponder Thursday Morning 5-8-25
The Dinar Is Recovering. The Dollar's Value In Iraq Has Fallen Due To Local Measures.
Information/Report...Over the past few days, Iraqi markets have witnessed a significant decline in the dollar exchange rate against the dinar, following months of fluctuations and price increases that sparked public concerns and market turmoil.
Exchange offices and the local stock exchange in most Iraqi governorates recorded a decline in the dollar exchange rate against the Iraqi dinar on Tuesday, part of a slight and gradual decline that has been ongoing for days.
The Dinar Is Recovering. The Dollar's Value In Iraq Has Fallen Due To Local Measures.
Information/Report...Over the past few days, Iraqi markets have witnessed a significant decline in the dollar exchange rate against the dinar, following months of fluctuations and price increases that sparked public concerns and market turmoil.
Exchange offices and the local stock exchange in most Iraqi governorates recorded a decline in the dollar exchange rate against the Iraqi dinar on Tuesday, part of a slight and gradual decline that has been ongoing for days.
In the final hours of the closing hours, the exchange rate for $100 reached 143,000 dinars, a difference of 11,000 dinars from the official exchange rate adopted by the Central Bank of Iraq, which is 1,320 dinars to the dollar.
The sudden decline has raised questions about its true causes and whether it represents the beginning of monetary stability or merely a temporary decline.
Experts believe the reasons are primarily local, not the result of regional or global developments.
In this context, economic expert Abdul Rahman Al-Mashhadani told Al-Maalouma,
"Geopolitical conditions, such as tensions between India and Pakistan, typically increase demand for the dollar,
but what happened in Iraq clearly indicates that internal factors are the primary driver of the price decline."
Al-Mashhadani explained that one of the most prominent of these factors was the
Central Bank's previous decision to regulate the sale and purchase of real estate,
which reduced the use of the dollar in real estate transactions, thus easing pressure on foreign currency.
He also pointed out that the expansion of banks authorized to process foreign transfers and
the adoption of a balance-enhancing mechanism led to significant dollar sales exceeding $300 million per day in previous periods.
However, much of this money was not used to import goods, but rather remained in external accounts, known as "return," which does not reflect real demand within the market.
Al-Mashhadani pointed out that the new Central Bank administration has adopted a more open policy to
regulate the market and
tightened controls on transfers and currency smuggling, which has contributed to
strengthening confidence and
raising the level of foreign exchange reserves.
Despite this improvement, observers caution against considering the dollar's decline as an indicator of permanent stability, especially given the ongoing political and economic challenges and the market's reliance on imports.
Any decline in oil revenues or foreign currency inflows is a source of concern.
Experts emphasize that sustaining the dollar's decline requires
continuing economic and monetary reforms,
strengthening the role of the banking sector,
regulating the parallel market, and
supporting local production to reduce reliance on the dollar. End / 25s
https://almaalomah.me/news/98057/economy/الدينار-يستعيد-عافيته-تراجع-سعر-الدولار-في-العراق-بفعل-إجراء
The Dollar Continues To Fall In Iraq. Is The Market Approaching The Official Rate?
Today's Economy , 15:20 | 2691 Baghdad Today – Baghdad Financial and economic expert Alaa Al-Fahd predicted on Wednesday (May 7, 2025) that the dollar exchange rate will continue to decline in the Iraqi market over the coming period, noting that
the gap between the official price and the parallel market price is close to disappearing. Al-Fahd told Baghdad Today,
"The Central Bank of Iraq has taken a series of measures in cooperation with banks, most notably direct financing of commercial transactions,
which has contributed to narrowing the gap between the official rate and the parallel market rate."
He added, "The Central Bank's continued coverage of foreign trade and regular dollar sales to banks
will push the parallel market exchange rate further downward, and we may soon see it reach the official rate."
The local market has witnessed fluctuations in the dollar exchange rate against the dinar over the past few months,
with the parallel market rate rising significantly compared to the official rate approved by the Central Bank of Iraq, which is 1,320 dinars per dollar.
The reasons for this discrepancy are
restrictions on foreign transfers,
declining confidence in some banking channels, and
external influences related to sanctions policies and controls on dollar movement.
With the Central Bank's recent measures, expectations indicate a
gradual return to stability and a
narrowing of the gap between the two rates. https://baghdadtoday.news/273715-.htm
Chestertons Global Enters Iraq With Baghdad Office
Business Iraq IraqiNews May 2, 2025 1364 Baghdad (IraqiNews.com) – In line with its strategic expansion across the Middle East, UK’s Chestertons Global has announced the opening of a new office in Baghdad, Iraq.
This marks a significant milestone as the international property brokerage continues to strengthen its presence in the Middle East.
The Baghdad office will offer a full suite of property services, including
residential and commercial sales and rentals,
investment advisory,
valuations, and
market research.
Chestertons Global’s entry into Iraq is a timely move, as
the country’s real estate sector continues its rapid development.
Valued at $1.12 billion in 2024,
Iraq’s property market
ranks among the largest in the Arab world and
is expected to grow at an annual rate of 6%.
With over 100 offices across 21 countries, the addition of Iraq strengthens Chestertons Global’s international network
and significantly enhances its capacity to serve clients in one of the region’s most promising markets.
https://www.iraqinews.com/iraq/chestertons-global-enters-iraq-with-baghdad-office/
Iraq Increases Condensate Output
Iraq Amr Salem May 7, 2025 158 An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra. Photo: AFP
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, said in a statement on Wednesday that
natural gas output and flared gas utilization projects have increased in Iraq.
A statement released by the Iraqi Oil Ministry mentioned that the country’s efforts to lessen gas flaring and satisfy local demand have resulted in the availability of substantial amounts of condensates, reaching about 160,000 barrels per day, according to Reuters.
Condensate, a light oil, is mostly used as a mixture for heavy crude or processed in separators to produce naphtha, a petrochemical product.
To improve its characteristics, the majority of the condensates generated are mixed with crude oil.
Iraq’s attempts to maximize its energy resources and lessen its environmental effect through improved utilization of flared gas have taken a significant stride with the growth in condensate output.
As part of the government’s plan to quickly become self-sufficient in gas and energy, Iraq plans to increase the utilization of flared gas wasted in oil operations to 70 percent by the end of 2025.
Abdul-Ghani told the state-run news agency (INA) last month that promising projects are underway to
maximize the production and utilization of flared gas in oil fields throughout the country.
According to the oil minister, flared gas utilization in Iraq is predicted to rise from its present level of around 67 percent to 70 percent by the end of 2025.
As part of the government agenda, gas flaring is scheduled to completely stop in Iraq by 2028, with efforts being made to turn this wasted energy into useful energy. https://www.iraqinews.com/iraq/iraq-increases-condensate-output/
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Thursday Morning 5-8-25
Good Morning Dinar Recaps,
PAYMENTS GIANT VISA INVESTS IN STABLECOIN INFRASTRUCTURE FIRM BVNK IN US MARKET EXPANSION
Credit card giant Visa is investing in the stablecoin payments network BVNK as a way to upgrade its business-to-business (B2B) transaction infrastructure.
In a new company blog post, BVNK CEO and co-founder Jesse Hemson-Struthers revealed that Visa is making an undisclosed investment into the firm to help automate and streamline global stablecoin payments between businesses.
Good Morning Dinar Recaps,
PAYMENTS GIANT VISA INVESTS IN STABLECOIN INFRASTRUCTURE FIRM BVNK IN US MARKET EXPANSION
Credit card giant Visa is investing in the stablecoin payments network BVNK as a way to upgrade its business-to-business (B2B) transaction infrastructure.
In a new company blog post, BVNK CEO and co-founder Jesse Hemson-Struthers revealed that Visa is making an undisclosed investment into the firm to help automate and streamline global stablecoin payments between businesses.
“At BVNK, we recognized early that stablecoins would emerge as an instant global payment rail and a viable alternative to the traditional correspondent banking system.
That’s why we’ve built our infrastructure from the ground up to automate and orchestrate stablecoin payments at scale, making these new rails accessible to businesses of all sizes.”
According to Hemson-Struthers, partnering with Visa, which he calls the:
“original payments innovator,”
will fundamentally change how businesses operate digitally and assist the UK-based BVNK in its expansion into the US.
“What makes me proudest is seeing the real-world impact of our technology.
We’re currently processing $12 billion in annualized stablecoin payment volumes, enabling our customers to move money globally with unprecedented speed and efficiency. The momentum continues with our expansion into the US market this year.”
Rubail Birwadker, head of growth products and partnerships at Visa, added:
“Stablecoins are fast becoming a part of global payment flows, and Visa invests in new technologies and builders like BVNK, staying at the forefront of what’s next in commerce to better serve our clients and partners.”
In December, BVNK closed a $50 million Series B fundraising round, with participation from major venture capital firms including Coinbase Ventures.
@ Newshounds News™
Source: DailyHodl
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BRICS: ONLY 33% OF TRADE SETTLED IN US DOLLARS
Russia’s Foreign Minister Sergey Lavrov confirmed that BRICS members have settled 67% of trade in local currencies, with only 33% of deals paid in US dollars. The significant gap highlights the seriousness of the de-dollarization agenda, suggesting that the motive to topple the greenback is gaining traction.
"National currencies already account for more than 65% within the framework of trade among BRICS members," said Lavrov.
"The dollar’s share declined to one-third against such a background," he told Tass.
BRICS members have executed roughly 67% of cross-border trade for goods and commerce in local currencies, while US dollar payments make up just 33%. De-dollarization is becoming a serious global concern, and critics warn that ignoring this trend could harm the US economy in the long run.
Developing countries are now more economically empowered than in previous decades, boasting:
Robust and growing GDPs
Expanding manufacturing bases
Leverage over Brent Crude oil
Greater influence in global markets
Additionally, many of their local currencies are outperforming the US dollar, compounding pressure on the greenback.
The BRICS alliance is gaining power and may seriously challenge the US dollar by the end of the next decade.
BRICS: US Dollar Usage in Trade Transactions Only 33%
If more countries adopt the de-dollarization movement led by BRICS, the US dollar—and broader economy—could face severe challenges. BRICS expansion is particularly concerning, as newer member countries bring additional strength to local currency systems.
The next 15 years may be pivotal: either the dollar reasserts its dominance, or it risks being overtaken by a rising wave of emerging economies.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
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“Tidbits From TNT” Thursday Morning 5-8-2025
TNT:
Tishwash: Oil Doesn't Feed the Poor: Where Does Iraq's Wealth Go?!
In a country with one of the world's largest oil reserves, scenes of destitution and poverty are still strongly present in the streets and working-class neighborhoods. Iraq, with its vast wealth, is powerless to address the dilemma of poverty, which now affects the lives of millions of citizens.
Official statistics indicate that more than a quarter of the population lives below the poverty line. As economic and political crises worsen, the roots of this phenomenon deepen, transforming from a social problem into a real threat to societal stability.
According to a 2024 report by the Iraqi Ministry of Planning, the poverty rate reached approximately 25% nationwide, with higher rates recorded in the southern governorates and conflict-affected areas. In Muthanna Governorate, for example, the rate exceeded 50%, reflecting the magnitude of the economic gap between Iraq's various regions.
TNT:
Tishwash: Oil Doesn't Feed the Poor: Where Does Iraq's Wealth Go?!
In a country with one of the world's largest oil reserves, scenes of destitution and poverty are still strongly present in the streets and working-class neighborhoods. Iraq, with its vast wealth, is powerless to address the dilemma of poverty, which now affects the lives of millions of citizens.
Official statistics indicate that more than a quarter of the population lives below the poverty line. As economic and political crises worsen, the roots of this phenomenon deepen, transforming from a social problem into a real threat to societal stability.
According to a 2024 report by the Iraqi Ministry of Planning, the poverty rate reached approximately 25% nationwide, with higher rates recorded in the southern governorates and conflict-affected areas. In Muthanna Governorate, for example, the rate exceeded 50%, reflecting the magnitude of the economic gap between Iraq's various regions.
The spread of poverty is attributed to several factors, most notably: high unemployment among young people, a lack of development projects, deteriorating infrastructure, and financial and administrative corruption that has depleted public budgets without affecting the lives of ordinary citizens. The absence of a clear strategy for wealth distribution has deprived large segments of their basic rights to education, healthcare, and adequate housing.
Babylon of Civilization… At the forefront of poverty
in Babylon Governorate, the cradle of civilization and home to the world’s first law stele, Minister of Labor and Social Affairs Ahmed Al-Asadi announced during a joint press conference with Babylon Governor Adnan Fayhan that the governorate has the second-highest poverty rate in Iraq.
This statement sparked a wave of anger against the government and Prime Minister Mohammed Shia al-Sudani’s development plans, especially with Babylon’s inclusion on the World Heritage List, raising questions about development priorities and wealth management.
The Voice of the Poor… A Cry in the Face of Silence
“Umm Ali,” a widow living in a slum in Baghdad, told Video News Agency:
“We live on whatever God provides. My children left school to help me collect empty cans from the street. No one asks about us, and the government doesn’t see us.”
Despite government initiatives such as the social safety net and food basket distribution, experts believe these solutions are temporary and insufficient unless accompanied by real economic reforms that create job opportunities and boost local production.
Umm Hussein, a widow and mother of four, described her suffering to the Video News Agency, saying:
“After my husband’s death, I have no one left to support me. I rely on the social welfare salary, but it is sometimes delayed and sometimes not fully disbursed. I am forced to work cleaning houses to cover school expenses and food.”
Poverty is not just numbers… but a daily pain
Poverty in Iraq is not just numbers in official reports; it is a daily story experienced by millions in silence and pain. As the challenges mount, there remains an urgent need for a serious stance from the state and society to rescue those drowning in the quagmire of poverty and pave the way for a more just and equitable future. link
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Tishwash: As Trump's visit to the region approaches, Iraq is expected to play a role in the Arab Summit in Baghdad.
Political analyst Talib Mohammed Karim asserted that the upcoming Arab Summit in Baghdad, coinciding with an anticipated visit to the region by former US President Donald Trump, could reshape political roles and give Iraq a prominent position on the regional scene.
During his appearance on the "Free Talk" program on Al Furat satellite channel, Karim said, "This is not the first summit that Baghdad has hosted since 2003; but it comes at a sensitive time when regional changes are accelerating, which may push Iraq to the forefront of the summit's political discussions."
He pointed out that "the importance of the summit lies in its moral dimension for Iraq, as it is one of the founding states of the Arab League and seeks to consolidate its position as a regional and international political player."
Karim stressed that "Iraq will be the 'crown' of the Arab Summit, and no party has the right to diminish its role, whether from a protocol or political perspective," noting that "the European Union's members met on the basis of shared interests, while the Arab League's members were divided due to conflicting political interests."
He expressed his concerns about the impact of the summit's final statement on the level of representation, saying, "If the statement includes any reference to the Zionist entity, it is likely that leaders of countries such as Morocco, Algeria, and the Sultanate of Oman will abstain from attending, as happened at the 2012 Baghdad summit, which was attended only by the Emir of Kuwait."
Karim added that "the repeated aggression against Syrian territory must be among the summit's topics, given its repercussions for regional security," considering that "Iran's role as a regional power cannot be ignored, and the Trump administration's renewed recognition of the Iranian nuclear issue constitutes an acknowledgment of its strength, which Iraq can leverage within the region's balance of power."
The political analyst concluded his remarks by asserting that "the summit represents an important opportunity for Iraq to strengthen its diplomatic standing, not only in the Arab context but also within the broader international interactions that will be affected by its outcomes." link
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Tishwash: Parliament is suspended until further notice. Election campaigns and internal crises postpone sessions until after Eid.
MP for the Coordination Framework, Mukhtar al-Moussawi, expects the suspension of parliament sessions to continue during the current month, until Eid al-Adha.
Al-Moussawi said in a statement followed by (Al-Mada), "There is a clear disruption to parliament's work, and it is likely that parliament sessions will not be held in the coming days, especially since it will enter a legislative recess starting next week."
He added, "There is talk about resuming parliament sessions after the Eid al-Adha holiday, in addition to other reasons that were an obstacle to the continuation of parliament sessions, represented by election campaigns that began early."
He explained that "there are many problems within parliament that prevent the parliament from holding sessions or achieving the required quorum, and therefore the parliament will remain suspended throughout the current month and beyond, until after the Eid al-Adha holiday." link
Tishwash: Kurdistan Delegation Meets Iraqi Oil Ministry and Epicur Over Oil Export Resumption
A high-level delegation from the Kurdistan Region’s Ministry of Natural Resources arrived in Baghdad today to meet with officials from the Iraqi Oil Ministry and international oil companies, including Epicur, to discuss the resumption of oil exports from the Kurdistan Region.
The meeting comes amid ongoing efforts to resolve the prolonged suspension of oil exports, which has cost Iraq an estimated 300,000 barrels of oil per day. Oil Minister Hayan Abdul Ghani recently stated that Iraq continues to suffer significant financial losses due to the halt and expressed surprise over what he described as new conditions set by the Kurdistan Region for the resumption of exports.
Today's meeting is expected to focus on overcoming the legal and technical challenges hindering the export process and finding a mutual agreement that would allow oil from the Kurdistan Region to flow back into international markets.
Negotiations between Baghdad and Erbil have stalled several times over the past year due to disputes over oil revenue sharing and control of export infrastructure. link
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Mot: Balance - All bout Balance
MilitiaMan & Crew: Iraqi Dinar News Update-Shadow Economy-Official Price-Arab Summit Baghdad-Global Confidence in Iraq
MilitiaMan & Crew: Iraqi Dinar News Update-Shadow Economy-Official Price-Arab Summit Baghdad-Global Confidence in Iraq
5-7-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew: Iraqi Dinar News Update-Shadow Economy-Official Price-Arab Summit Baghdad-Global Confidence in Iraq
5-7-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News And Points To Ponder Wednesday Afternoon 5-7-25
Al-Araji Discusses With The US Chargé d'Affaires The Latest Developments On The Regional And International Arenas
Wednesday, May 7, 2025, | Politics Number of reads: 246 Baghdad / NINA / National Security Adviser, Qasim Al-Araji, received in his office on Wednesday, the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Trudeau.
According to a statement by the advisory, the meeting reviewed the latest developments on the regional and international arenas, and the efforts made to consolidate peace and de-escalate the situation in the region and the world.
Al-Araji Discusses With The US Chargé d'Affaires The Latest Developments On The Regional And International Arenas
Wednesday, May 7, 2025, | Politics Number of reads: 246 Baghdad / NINA / National Security Adviser, Qasim Al-Araji, received in his office on Wednesday, the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Trudeau.
According to a statement by the advisory, the meeting reviewed the latest developments on the regional and international arenas, and the efforts made to consolidate peace and de-escalate the situation in the region and the world.
The Iraqi-American strategic partnership and relations based on the strategic framework agreement signed between the two countries and ways to develop them were also reviewed.
The meeting also discussed the efforts of the two countries regarding the Al-Hawl camp file and the measures taken by the Iraqi government to return its citizens from the camp.
Al-Araji also stressed that the Iraqi government welcomes direct negotiations between the United States of America and the Islamic Republic of Iran, as they serve the interest of stability in the region and the world, reiterating that Iraq is moving forward to develop its relations with international partners. /End https://ninanews.com/Website/News/Details?Key=1225330
Rafidain Bank Achieves More Than Two Trillion Dinars In Electronic Collection Settlements
Banks Economy News – Baghdad Rafidain Bank announced today, Wednesday, a qualitative leap in the volume of electronic tax settlements implemented for government departments during the first third of 2025.
According to data released by the bank, total settlements exceeded 2.65 trillion dinars, a significant increase compared to the same period in 2024, when they amounted to approximately 772 billion dinars.
The bank indicated in its data that the growth rate reached 244%, driven by the expansion of the number of government departments activating the electronic collection system, as their number increased from 1,395 departments at the end of March 2024 to 1,808 departments at the end of March 2025.
April 2025 also recorded the highest quarterly settlement rate, reaching 654 billion dinars, compared to only 314 billion dinars in April of last year. This reflects a clear improvement in the system's operational efficiency and enhanced government institutions' confidence in using electronic payment services through Rafidain Bank, according to the data.
The bank emphasized that this achievement falls within the framework of its strategy to support government efforts, implement digital transformation plans, enhance government collection efficiency, and consolidate the principles of transparency and financial governance, in line with government directives to build a more integrated and effective financial system.
https://economy-news.net/content.php?id=55204
The President Of The Republic To The Governor Of The Central Bank: The Need To Develop A Sound Future Strategy For Fiscal Policy
Banks Economy News – Baghdad President Abdel Latif Jamal Rashid stressed on Wednesday the need to exert efforts and develop a solid future strategy for financial policy.
A statement from his media office, received by Al-Eqtisad News, stated that "the President of the Republic received the Governor of the Central Bank, Ali Al-Alaq, at the Baghdad Palace to discuss the state of the Iraqi banking sector and the measures to develop it, as well as the reform packages being undertaken by the Central Bank to address economic changes and their impact on the local market."
The President of the Republic stressed "the need to exert efforts and develop a sound future strategy for fiscal policy that will enhance the desired economic development."
He pointed out that "the meeting discussed plans to revitalize the investment sector by supporting the private sector, especially given the country's remarkable stability on the security, political, and social levels."
In turn, Al-Alaq reviewed the efforts made by the Central Bank and its future plans aimed at strengthening fiscal policy and economic stability in the country. https://economy-news.net/content.php?id=55214
Baghdad Municipality Achieves Highest Revenues In Its History
Baghdad Municipality. "Internet" Money and Business Economy News – Baghdad Baghdad Mayor Ammar Musa confirmed on Wednesday that the Secretariat will rely on its own resources to provide services to the capital's residents. He also noted that 2024 tax collections amounted to more than 295 billion dinars, the highest since its establishment.
"The Baghdad Municipality achieved a collection rate higher than the required target last year, and it was the highest collection rate achieved by the municipality since its establishment, and we aspire to more," Musa said in a statement reported by the official news agency, and seen by "Al-Eqtisad News" (INA). He pointed out that "revenues come either through increased fees, and we are working to prevent them from increasing so as not to affect the individual's living income, or by increasing the municipality's revenues by providing facilities and procedures."
He added, "Our goal in 2025 is for collection to be higher than the planned target for 2024, and we are keen to rely more on our own resources in order to provide services to the people of the capital," explaining that "collection last year, 2024, amounted to more than 295 billion dinars." https://economy-news.net/content.php?id=55230
For The Second Week, The Dollar Continues To Decline In Local Markets
Economy | 07/05/2025 Mawazine News – Baghdad The US dollar exchange rate fell on Wednesday morning in Baghdad's local markets.
The dollar price fell on the Al-Kifah and Al-Harithiya stock exchanges to 134,400 Iraqi dinars for every $100, while yesterday morning, Tuesday, it recorded 144,000 dinars for every $100.
The selling price in exchange shops in Baghdad's local markets reached about 144,500 Iraqi dinars for every $100, and the buying price reached 142,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261185
Oil Prices Rise On Signs Of Increased Demand From Europe And China
Energy Economy News – Baghdad Oil prices rose on Wednesday amid signs of weak production in the United States and rising demand in Europe and China, with buyers emerging after prices fell to new lows earlier in the week.
Brent crude futures rose 37 cents, or 0.6 percent, to $62.52 a barrel by 12:15 GMT, while U.S. West Texas Intermediate crude reached $59.53 a barrel, up 44 cents, or 0.74 percent.
Prices for both benchmark crude oils fell to their lowest levels in four years after OPEC+ decided to accelerate production increases, raising concerns about a supply glut at a time when US tariffs have raised concerns about demand.
However, low oil prices in recent weeks have prompted some US energy companies such as Diamondback Energy (FANG.O) to close some of their US offices.
Global oil and gas companies have announced they will reduce the number of drilling rigs, which analysts say will eventually lead to higher prices through reduced production.
Market sources said crude inventories fell by 4.5 million barrels in the week ending May 2, citing figures from the American Petroleum Institute on Tuesday.
Prices also received support from signs of improving demand. Consumers in China increased their spending during the May Day celebrations and as market participants returned from a five-day holiday. https://economy-news.net/content.php?id=55202
Gold Prices Fluctuate In Baghdad And Erbil Amid The Dollar's Decline
Wednesday, May 7, 2025, | Economic Number of reads: 129 Baghdad/ NINA / Foreign and Iraqi gold prices stabilized in the local markets of the capital, Baghdad, and decreased in Erbil on Wednesday.
The selling prices of gold, in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, were recorded for one Mithqal of 21 karat Gulf, Turkish and European gold at 680,000 dinars, and the purchase price was 676,000 dinars.
The selling price of one Mithqal of 21 karat Iraqi gold reached 650,000 dinars, and the purchase price was 646,000.
As for gold prices in goldsmiths, the selling price of one Mithqal of 21 karat Gulf gold ranges between 680,000 and 690,000 dinars, while the selling price of one Mithqal of Iraqi gold is between 650,000 and 660,000 dinars.
As for gold prices in Erbil, they recorded a decrease, as the selling price of 24-karat gold reached 792 thousand dinars, 22-karat gold sold for 726 thousand dinars, 21-karat gold sold for 693 thousand dinars, and 18-karat gold sold for 594 thousand dinars.
The exchange rates of the US dollar recorded a decrease, this Wednesday morning, in the markets of Baghdad and Erbil, reaching 143,400 Iraqi dinars for 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges. / End
https://ninanews.com/Website/News/Details?key=1225343
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
Seeds of Wisdom RV and Economic Updates Wednesday Evening 5-7-25
Good Evening Dinar Recaps,
FED HOLDS RATES STEADY AS IT NOTES RISING UNCERTAINTY AND STAGFLATION RISK
The Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5%, where it has been since December.
The post-meeting statement noted the recent market volatility and how that is factoring into the central bank’s policy decisions.
“Uncertainty about the economic outlook has increased further,” the statement said.
Good Evening Dinar Recaps,
FED HOLDS RATES STEADY AS IT NOTES RISING UNCERTAINTY AND STAGFLATION RISK
The Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5%, where it has been since December.
The post-meeting statement noted the recent market volatility and how that is factoring into the central bank’s policy decisions.
“Uncertainty about the economic outlook has increased further,” the statement said.
WASHINGTON — The Federal Reserve on Wednesday held its key interest rate unchanged as it waits for the Trump administration’s trade policy to take shape and sees its impact on a sputtering economy.
In a move that carried little suspense given the wave of uncertainty sweeping the political and economic landscape, the Federal Open Market Committee (FOMC) held its benchmark overnight borrowing rate in a range between 4.25%-4.5%, where it has been since December.
The post-meeting statement noted the volatility and how that is factoring into policy decisions.
"Uncertainty about the economic outlook has increased further."
"The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen."
While the statement did not specifically address the tariffs, Chair Jerome Powell addressed the issue at his post-meeting news conference.
Stocks briefly ceded some gains after the rate announcement but mostly recovered, with the Dow Jones Industrial Average up nearly 300 points despite some worries over the Fed’s characterization of the economic risks.
“The May FOMC statement in effect warns that a large trade shock is still set to hit the economy in spite of efforts by the Trump administration to deescalate..."
— Krishna Guha, Head of Global Policy and Central Bank Strategy at Evercore ISI
“...with the Fed seeing the risks ahead as two-sided and not providing any early dovish lean in favor of a June rate cut.”
“The net implications for risk assets are negative.”
A possible stagflationary scenario
Finding the balance between the two elements of the Fed’s so-called dual mandate of full employment and stable prices has become more difficult amid President Donald Trump’s tariff push.
In noting that tariffs threaten to aggravate inflation as well as slow economic growth, the statement raises the possibility of a stagflationary scenario largely absent from the U.S. since the early 1980s.
Policymakers have largely agreed that the central bank is in a good position, with the economy generally holding up, to be patient as it calibrates monetary policy.
Powell emphasized this during the press conference:
“The economy itself is still in solid shape.”
Trade Talks in Focus
The Fed’s deliberations come as the White House is locked in negotiations with top U.S. trading partners during a 90-day negotiating period that began in early April. Trump slapped 10% across-the-board tariffs on U.S. imports and threatened other “reciprocal” duties pending ongoing talks.
As near-daily headlines gauge the trade war, the economy has been flashing conflicting signals on growth, inflation, and consumer and business sentiment.
Gross domestic product (GDP) fell 0.3% in the first quarter
Slower consumer and government spending and a surge in imports ahead of tariffs
Most economists expect a return to positive growth in Q2
The FOMC noted that “swings in net exports have affected the data,” while maintaining its view that the economy “has continued to expand at a solid pace.”
Indeed, job growth has held up despite Trump’s efforts to pare down the federal workforce:
Nonfarm payrolls increased by 177,000 in April
Unemployment rate held at 4.2%
Inflation is approaching the Fed’s 2% target
However, tariffs are expected to lead to at least a one-time rise in prices. Trump has urged the Fed to cut rates as inflation has eased. The Fed’s preferred inflation gauge showed:
Headline inflation at 2.3%
Core inflation (excluding food and energy) at 2.6%
As with all aspects of the economy, it all depends on what happens with tariffs.
Market Reactions & Outlook
Recent signs of progress in negotiations and some softening from the administration helped reverse a major stock market sell-off after the April 2 “liberation day” announcement from Trump.
However, business surveys continue to show high anxiety—most managers report concerns about supplies and pricing from the tariffs.
Market pricing regarding Fed action has been volatile:
Heading into the meeting:
Virtually no chance of a rate cut this week
<30% probability of a June move
Next cut expected in July
Three cuts priced in for the year
The committee’s decision to hold the benchmark rate steady was unanimous.
The federal funds rate, used by banks for overnight lending, also affects mortgages, auto loans, and credit cards.
@ Newshounds News™
Source: CNBC
~~~~~~~~~
US TREASURY SECRETARY EXPRESSES SUPPORT FOR CRYPTO BILLS AT HEARING
Scott Bessent suggested support for the stablecoin and market structure bills being considered in Congress in response to a question about China.
Speaking at a hearing, US Treasury Secretary Scott Bessent suggested support for two crypto-related bills moving through Congress.
Bessent addressed lawmakers at a May 7 hearing of the House Financial Services Committee, saying that the United States should be the:
“premier destination for digital assets”
in response to a question about American dominance over China in crypto-related innovation. The Treasury Secretary added that:
“good market structure” and “stablecoin legislation” could help ensure this outcome.
Bessent’s remarks echoed those of other Republican lawmakers and President Donald Trump, who initially claimed he wanted to make the US the:
“crypto capital of the world”
during his 2024 campaign. The Treasury Secretary was likely referring to:
the draft of a digital asset market structure bill released by House Republicans on May 6
the GENIUS bill to regulate stablecoins, expected to be taken up for a Senate vote on May 8
The Treasury Secretary, a Trump nominee, has supported the president on key crypto policy actions, including:
an executive order to establish a sovereign wealth fund
participation in a working group exploring federal stablecoin regulations and a national crypto stockpile
He also stated during a confirmation hearing that he would oppose the creation of a US central bank digital currency while in office.
Democrats Push Back on Crypto Bills Amid Memecoin Dinner Controversy
Even before Trump announced plans to hold an exclusive dinner and VIP tour for top memecoin holders, he faced scrutiny over alleged conflicts of interest tied to his crypto ventures.
The dinner announcement seemed to galvanize Democrats against any crypto-related legislation.
Representative Maxine Waters, ranking member of the House Financial Services Committee, led a walkout of the May 6 hearing on the Republican-drafted market structure bill, citing the need to explore:
“Trump’s crypto corruption”
Additionally, nine Senate Democrats stated they will not support the GENIUS stablecoin bill in its current form, demanding:
stronger Anti-Money Laundering protections
tougher oversight on foreign issuers
improved national security safeguards
It remains unclear whether Republicans, who control both chambers of Congress, will have enough votes to pass either bill.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
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FRANK26….5-7-25….OF COURSE !!!’
KTFA
Wednesday Night Conference Call
FRANK26….5-7-25….OF COURSE !!!’
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
KTFA
Wednesday Night Conference Call
FRANK26….5-7-25….OF COURSE !!!’
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE=IMPLEMENTATION
Gold is Signaling a Financial Reset is Upon Us
Chris Vermeulen: Gold is Signaling a Financial Reset is Upon Us
Palisades Gold Radio: 5-7-2025
Tom welcomes back Chris Vermeulen, the founder of The Technical Traders, to discuss the highly volatile year of 2025 so far. He notes that volatility has been extreme across various asset classes, driven by factors like geopolitical tensions, AI advancements, and fears of an impending recession.
Vermeulen emphasized that while day traders thrive in such environments due to significant intraday swings, swing traders face increased risks with massive price gaps.
Chris Vermeulen: Gold is Signaling a Financial Reset is Upon Us
Palisades Gold Radio: 5-7-2025
Tom welcomes back Chris Vermeulen, the founder of The Technical Traders, to discuss the highly volatile year of 2025 so far. He notes that volatility has been extreme across various asset classes, driven by factors like geopolitical tensions, AI advancements, and fears of an impending recession.
Vermeulen emphasized that while day traders thrive in such environments due to significant intraday swings, swing traders face increased risks with massive price gaps.
Long-term investors should prioritize capital preservation by moving to cash until market clarity emerges, as he believes a bear market has already begun. He warned against the "buy the dip" mentality, especially for those nearing retirement, cautioning that this approach could lead to significant losses in a prolonged bear market.
Vermeulen points out key indicators of an impending financial reset, including economic data showing hiring declines and rising unemployment, as well as housing market corrections with inventories soaring.
Gold was discussed as a safe haven asset, though Vermeulen cautioned about potential pullbacks. He suggested that gold miners could offer better opportunities once the market stabilizes.
Seasonality plays a role in his analysis, noting that stock markets typically struggle post-May, aligning with his bearish outlook. Real estate was also addressed, with Vermeulen predicting price drops of 15-20% and warning about the broader economic impact as housing values decline.
He highlighted the psychological effect on investors when their largest asset depreciates, potentially leading to panic selling across markets. The U.S. dollar's potential strength was discussed, with Vermeulen suggesting it could rally in a risk-off environment.
Time Stamp References:
0:00 - Introduction
0:52 - Market Volatility & Trading
4:58 - Markets in Topping Stage
8:30 - Cliff Phase Indicators
15:22 - Downside Targets Gold
18:50 - Expectations for Miners?
23:18 - Seasonality in 2025?
26:00 - Silver Markets & Risk?
28:57 - Bitcoin Decoupling
31:45 - Real Estate & Nest Eggs
34:30 - Google Search Trends
42:08 - Dollar Thoughts
48:49 - Mkt Resets & Wrap Up
Bruce’s Big Call Dinar Intel Tuesday Night 5-6-25
Bruce’s Big Call Dinar Intel Tuesday Night 5-6-25
Transcribed By WiserNow Emailed To Recaps
Welcome. Everybody to the Big call tonight It’s Tuesday May 6 and welcome to the big call - Hope everybody had a wonderful cinco de Maya yesterday, and I didn't celebrate it, per se, I was aware of it. Tonight - Today is the sixth of May and you're listening to the big call. Thanks everybody for listening again, being with us on the call.
Well, let's get into the intel now. Let's see where we are. We did get a little bit of information today. Try to give us an idea we had heard over the last Oh, I'm going to say, I'm going to say Sunday into Monday. We heard from one source. It's over seven redemption centers that we would be exchanging starting tomorrow afternoon.
Bruce’s Big Call Dinar Intel Tuesday Night 5-6-25
Transcribed By WiserNow Emailed To Recaps
Welcome. Everybody to the Big call tonight It’s Tuesday May 6 and welcome to the big call - Hope everybody had a wonderful cinco de Maya yesterday, and I didn't celebrate it, per se, I was aware of it. Tonight - Today is the sixth of May and you're listening to the big call. Thanks everybody for listening again, being with us on the call.
Well, let's get into the intel now. Let's see where we are. We did get a little bit of information today. Try to give us an idea we had heard over the last Oh, I'm going to say, I'm going to say Sunday into Monday. We heard from one source. It's over seven redemption centers that we would be exchanging starting tomorrow afternoon.
Now I thought, Okay, that sounds great, but we need numbers beforehand, which obviously is still possible. And then I heard, we heard from a source that's very high up the letter with Wells Fargo, and that source said that we could get our free numbers anytime between now and Thursday the eight.
I thought, huh, eight. That's China's favorite number. Chinese elders would like, what about Oh, Charlie Ward's Thursday? Could it be that both of those occur at the same time?
And so I thought, okay, one window is, let's say from now is actually from Monday at 6pm let's just call it now until Thursday to receive the toll free number. And this is the caveat. And you begin your exchanges, and then we had the other piece that said that we would receive it and exchange by tomorrow which is Wednesday afternoon, by Wednesday afternoon. So I'll take either one, right?
Either one is a win, all right, so if all right, let me see. I'm gonna bring this out a different way. We heard that one particular redemption center was going to make a phone call for contact after 11 o'clock tomorrow morning, meaning that possibly something that was to occur by 11 tomorrow morning.
Don't know quite what that is. We'll have to see if that is meant for us -
Here's another thing we heard from one of our sources, that there's going to be a major announcement. He said that it would be tomorrow.- That would be something we would all be affected by. It would be very good for us. Okay, I'm going to come back to this guy in a minute,
Then this afternoon, shortly after I heard that on NewsMax I caught President Trump in the midst of a press conference where he was talking about trade, trade deals, trade with Canada, all of that.
And then all of a sudden, he changed gears in and wedged this in next -- he said there's going to be an earth shattering announcement that will affect America and its people. He said in the next few days, I thought, ooh, President Trump, is that the announcement that my associate was referring to?
He would not tell us what it was. I have to assume that he knew that it was and I thought, what could it be? What was it? What? What could that announcement be about? And then President Trump says what I just told you, I thought earth shattering affecting everyone in America and it's people
I thought the next couple of days, or the next few days, I thought, all right, so then we go back and we try to get back in touch with the one who said there would be a major announcement tomorrow, and then Ask him if you explain what it was, then he came back with what it was and said just be reasdy for Thursday -- I said yatze – bingo
Is that what we're waiting for? Are we looking for an announcement tomorrow, and then get ready for Thursday . Is that something regarding and we thought we figured this out. What? What announcement could it be right now? Could it be an EAS EBS announcement? Could it be something about the USN and our new currency, the first fruits of NESARA
Could it be about the asset back currency our physical money called ustn, United States Treasury note? What was it going to be? And we'll have to see what it is, because we never did get an absolute on that announcement. But President Trump himself mentioned an earth shattering announcement.
That's his words, earth shattering announcement. Then he came back as to when, and he said, over the next few days. Now, when some says over the next few days All right, so, I will say this - that's very, very important for us to consider that possibility, okay? And I think it's great for us to have heard that, and I love the fact that it was said, be ready for Thursday.
Now, we don't know exactly, obviously, guys this has been kept a little bit quiet for us, for a reason. We know that, but I like what I was hearing today about the possibility of numbers tomorrow, Thursday, and us getting started with exchanges by Thursday. I'm hoping that's exactly what it is, and that comes through. I think it's very possible, very possible.
Now, you guys know I've been the I'm not calling it, but I'm telling you what I'm hearing. That's important to realize I'm just giving you what I'm getting and not changing. I'm just putting it out there, because I really think this is some good, good information.
What about Doge payments? DOGE payments were to start going out this week over the next two weeks, meaning this week and next week,
I understand they will go what they will be, physical, printed US Treasury checks 4000 to $7,000 sometime between , but let’s call it today, tomorrow, over and over next week as well. So that's something to be looking for through check your mailbox.
And the other thing is our R and R money be at the redemption center for us that are exchanging and redeeming zim , we should have nice increases in Social Security for those that are getting it already this month, month of May.
So we're really looking for four different things, 800 numbers, to set our appointments for the RV, at the redemption centers, R and R at the redemption center. DOGE payments in the mail and Social Security increases this month quite a bit.
Now something was picked up, and I don't know if it came from me or not, somebody said that the Zim would only be usable – and exchangeable - Let's use the term exchangeable. Redeemable is the right word “redeemable” through the end of this month of May.
Now that was possibly construed or misconstrued from what I said last Thursday about redemption centers are going to be open through the end of May, May 31 of Saturday. Okay, that is true. That's what we've heard. That would be the cutoff date for redemption centers
Now, after May comes June, if you had zim and for some reason you were not able to redeem it in t/he month of May in a reduction center Wells Fargo will be able to redeem it at the bank starting in June
I don't know anybody unless they're on a reposition cruise and don't get back till June that wouldn't take their zim in right away and redeem it this month of May. I don't know anybody
Now, if you're on your death bed, or you know you're just in a prolonged hospital visit or something like that, I could see where you might have delayed not be able to exchange or redeem right away this month.
So please understand that if this person who put that out got it by misunderstanding what I said last Thursday, clarify it to the point where, yes, redemption centers are what we are looking to use, and anything after the month of May they would use tier one banks specifically Wells Fargo for the zim.
Okay. Rates were not up on screens yet today, but we do expect them to come up very shortly. And certainly, if we're going to be notified as early as tomorrow or Thursday, we should have the rates there no problem - we have ready to go. That's the one thing we don't have to worry about, is rates. That's for sure.
Now there's one more thing about the contract rate. If you have zim, can you still get the contract rate on dinar, yes, but if they don't offer it to you, you may ask for it.
You say, I understand there is a contract rate on dinar, and if you mention that, they have to offer it to you, this is making the assumption that you have projects you have projects for your zim , and as a result, they would offer you the contract rate on the dinar
Listen, which is incredibly high, but regular screen rate on dinar At the redemption centers is also very high. It's not even half as much as the redemption center rate on the contract rate will be, though, the contract rate will be over twice as much as the spring rate, and the spring rate is very high. So that's encouraging.
Let's see if there's anything else – I would say DOGE, those in the mailbox, starting in the next couple of days, look for your notification to come by email. Hopefully tomorrow we can set our appointments and start exchanges. I don't know, maybe tomorrow's in play - maybe not. Maybe it's Thursday, but I like the fact that Thursday is China’s number - Charlie Wards number the a tremendous number start works Thursday.
It could just very well be happening on Thursday. Could be -- Everything people say, Well, what else is there? A lot of people have said there's nothing else. they're all set, we're ready to go. They are done, you know, we'll see. And of course, I'm really curious.
And of course, I'm really curious as to what this announcement is that President Trump was inferring in this press conference today. I heard it. I went back, paused it went back, listen to it again. Did it again.
Make sure I heard everything that he said about it. He didn't give any real hints. He just said it would be earth shattering and really good for America and America and the people. So I'm excited about it. That's really good news. And so we'll see what that is. We'll see what it is. But it was not relating to trade. That was cool.
We want the numbers to come out like right away. Want to set our appointments. We want to get in, get our exchanges done, and start losing our new lives. So get those out to sue, and don't forget to check the website that Bob has set up our sales.
Obviously, we're in a position where we're praying for people, continuing to lift people up. We're looking forward to having so much good is coming. And we're just we're just ready. I think they are ready for us.
Now. Today's Tuesday night, Thursday, we get numbers. Tomorrow,are we going to have a call? Yes, we would have a celebration call. We get numbers. We will have a celebration call on Thursday at the regular time.
Okay, so let's pray the call out Keep an eye on it tomorrow. Let's see what happens. We get it and we'll talk to you Thursday night. Hopefully it'll be all right call. All right, that's you guys. God bless you guys.
Bruce’s Big Call Dinar Intel Tuesday Night 5-6-25 REPLAY LINK Intel Begins 1:10:30
Bruce’s Big Call Dinar Intel Thursday Night 4-24-25 REPLAY LINK Intel begins 57:07
Bruce’s Big Call Dinar Intel Tuesday Night 4-29-25 REPLAY LINK Intel Begins 1:23:43
Bruce’s Big Call Dinar Intel Thursday Night 4-24-25 REPLAY LINK Intel begins 1:06:06
Bruce’s Big Call Dinar Intel Tuesday Night 4-22-25 REPLAY LINK Intel Begins 1:03:55
Bruce’s Big Call Dinar Intel Friday Morning 4-19-25 REPLAY LINK INTEL ONLY No Transcription
Bruce’s Big Call Dinar Intel Thursday Night 4-18-25 RECORDING FAIL
Bruce’s Big Call Dinar Intel Tuesday Night 4-15-25 REPLAY LINK Intel Begins 1:26:50
Bruce’s Big Call Dinar Intel Thursday Night 4-10-25 REPLAY LINK Intel begins 1:21:41
Bruce’s Big Call Dinar Intel Tuesday Night 4-8-25 REPLAY LINK Intel Begins 1:09:39
Bruce’s Big Call Dinar Intel Thursday Night 4-3-25 REPLAY LINK Intel begins 59:59
Bruce’s Big Call Dinar Intel Tuesday Night 4-1-25 REPLAY LINK Intel Begins 1:09:09
Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 5-7-25.
Good Afternoon Dinar Recaps,
REP. TORRES TO INTRODUCE BILL BANNING TRUMP, LAWMAKERS FROM CASHING IN ON MEMECOINS AND STABLECOINS
The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that “uses the name, likeness, image, or other recognizable traits of a covered individual.”
Some Democrats have aired major concerns over Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on legislation to regulate digital assets.
Good Afternoon Dinar Recaps,
REP. TORRES TO INTRODUCE BILL BANNING TRUMP, LAWMAKERS FROM CASHING IN ON MEMECOINS AND STABLECOINS
The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that “uses the name, likeness, image, or other recognizable traits of a covered individual.”
Some Democrats have aired major concerns over Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on legislation to regulate digital assets.
Rep. Ritchie Torres, D-N.Y., plans to introduce legislation that would block President Donald Trump, future presidents, and members of Congress from "profiteering" on memecoins and stablecoins.
The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that
"uses the name, likeness, image, or other recognizable traits of a covered individual,"
in a message sent by Benny Stanislawski, a spokesman for Rep. Torres, to The Block.
The legislation defines a “covered individual” as a current or former U.S. president, vice president, member of Congress, or any presidentially appointed and Senate-confirmed federal official, along with their immediate family members.
The move comes amid growing criticism among Democrats about Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on digital asset regulation.
Since late 2024, Trump and his family have embraced digital assets, launching their own memecoins shortly before his 2025 inauguration. His affiliated venture, World Liberty Financial, recently launched its own stablecoin.
Trump also hosted a crypto-themed fundraiser Monday night for the MAGA Inc. super PAC, and is hosting a gala later this month for the top 220 owners of his memecoin.
On Tuesday, Sen. Richard Blumenthal, D-Conn., sent letters to World Liberty Financial and Fight Fight Fight LLC, the company behind Trump's memecoin, to investigate potential conflicts of interest related to Trump's crypto activities.
Torres has shown support for crypto. In March, he and Republican House Majority Whip Tom Emmer created the "Congressional Crypto Caucus" aimed at advancing bills in Washington. Torres also pushed back on the U.S. Securities and Exchange Commission's approach to regulating crypto last year.
@ Newshounds News™
Source: The Block
TRUMP FACES SENATE SUBCOMMITTEE INQUIRY OVER 'CRYPTO CORRUPTION'
Opposition lawmakers continue to criticize the president’s crypto ambitions.
Democratic Senator Richard Blumenthal has opened an investigation into President Trump's crypto businesses.
Blumenthal has alleged that the launch of the Trump meme coin is unethical.
President Trump has a number of digital asset ventures that draw ire from Democrats.
Democratic senator Richard Blumenthal is investigating how President Donald Trump's crypto business ventures are potentially violating federal laws.
U.S. Senator Richard Blumenthal said Tuesday that President Trump's meme coin launch and other crypto industry ventures represent
"an unprecedented, pay-to-play scheme to provide access to the Presidency to the highest bidder."
Blumenthal announced that the Senate Permanent Subcommittee on Investigations would be opening a preliminary inquiry into the launch of the president's cryptocurrency, Official Trump, along with DeFi platform World Liberty Financial and the president's other digital asset interests.
"Chillingly, TRUMP allows, and even invites, anyone in the world, including foreign governments and unscrupulous individuals, to directly enrich the president, while hiding potential payoffs in the pseudonymity of the blockchain," Blumenthal said in his announcement, quoting a letter he wrote to the developer of the Official Trump cryptocurrency, Bill Zanker.
The new commander-in-chief ahead of his January inauguration launched a Solana-based meme coin called Official Trump—which trades as TRUMP—and it quickly soared in value before crashing. It's now down 85% from its peak price.
Democrats have alleged that the new commander in chief has profited from the virtual coin's launch, but the president has denied this and avoided questions on the matter.
The president is also associated with an Ethereum-based decentralized finance project, World Liberty Financial. Trump's sons, Eric and Donald Jr., first announced the project last year, and the then-Republican nominee promoted the project on social media ahead of his election win.
Decrypt in March reported that the president and his associates had pocketed around $390 million in revenue from promoting World Liberty Financial.
In April, President Trump also announced a private dinner later this month at his Washington-area golf club for the top 220 holders of his meme coin, plus a private reception and a White House tour for other investors.
The announcements have drawn ire from Democratic lawmakers, who claim that promoting the meme coin is corrupt. House Democrats walked out of a hearing Tuesday about impending crypto industry legislation, due to complaints over Trump's perceived crypto conflicts.
President Trump campaigned ahead of his November win to help the digital asset industry and received backing from crypto entrepreneurs and Silicon Valley hotshots and members of the "PayPal mafia", including current White House AI and crypto czar David Sacks and Tesla CEO Elon Musk.
@ Newshounds News™
Source: Decrypt
~~~~~~~~~
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More News, Rumors and Opinions Wed. Afternoon 5-7-2025
589bull: Iraq is No Longer Hinting
5-7-2025
MORNING UPDATE
Iraq is no longer hinting. Sudani just said the quiet part out loud.
Yesterday, Prime Minister Mohammed Shia al-Sudani held a major meeting with the heads of all Iraqi banks. The takeaway?
“The state will act as a regulator, not a controller.”
That’s your signal.
589bull: Iraq is No Longer Hinting
5-7-2025
MORNING UPDATE
Iraq is no longer hinting. Sudani just said the quiet part out loud.
Yesterday, Prime Minister Mohammed Shia al-Sudani held a major meeting with the heads of all Iraqi banks. The takeaway?
“The state will act as a regulator, not a controller.”
That’s your signal.
This is the exact language used by nations preparing for a monetary shift and here’s why it matters:
• Iraq is stepping back from centralized control of the banking sector
• The banking system is now “flexible, modern, and ready,” per Sudani
• First Rafidain Bank is launching with a new vision + foreign partnerships
• The government confirmed it’s absorbing excess IQD and replacing it with domestic production + foreign investment
• Banks are being told to invest, simplify, and prepare for global trust
This isn’t speculation, this is pre-RV protocol in plain sight.
They’re lining up the IMF, World Bank, Basel III, ISO 20022, and private sector cooperation. The only piece left?
What follows is going to be historic.
Source(s):
https://x.com/589bull10000/status/1919704894539268538
https://dinarchronicles.com/2025/05/06/589bull-iraq-is-no-longer-hinting/
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat We have previously read many articles on the “New Rafidain” bank and the reforms taking place there. The CBI was working to reform the bank to necessary to global standards and digitization. First why would they do this if not working towards a higher rate when going back to FOREX. If they wanted a 1320 rate, they could have already done it over the last two decades...But this is not the case as Ali Al-Alaq has told us many times already he wants the dinar to go back to its “glory days”.
Militia Man Article quote: "The delegation International Monetary Fund stress the importance of strengthening the relationship with foreign correspondent banks in the field of financing foreign trade as well as supporting the use of the Iraqi dinar in economic transactions to maintain the stability of the local currency." I don't know you guys, some people like to say, 'drop the mic'. That's powerful and it's impressive. They're talking specifically about cross border trade, foreign trade, with the Iraqi dinar...
************
Gold Legal in FL & Tariffs Slam Businesses | with Meghan Johnson
Lynette Zang: 5-6-2025
Tariffs on shoes imported from Vietnam just surged by 541% and both businesses and consumers are feeling strain. Lynette is joined by her daughter Meghan Johnson to share how these trade wars are impacting her businesses.
But it’s not all bad news: Florida just made gold and silver legal tender, and we’re celebrating that major win in-studio.
War on Cash is Here: Giustra Says Global Reset Has Begun, No Bailout in Sight
Daneila Carbone: 5-7-2025
“There’s a mad rush for physical gold... even the U.S. is bringing it back in. It tells you that they’re preparing for something,” warns billionaire philanthropist Frank Giustra in a must-watch video.
He sits down with Daniela Cambone to discuss how the global financial order is shifting, with gold returning to a central monetary role.
Key Facts:
What are the ramifications of Basel III?
What role will gold play in the new financial order?
Monetary reset is coming.
Banks to upgrade gold to a Tier 1 asset - what comes next?
Gold remains the constant.
What might a new monetary system look like?
Are we seeing the rise of a bifurcated system?
Spain's power outage scenario is "war on cash"