KTFA, News Dinar Recaps 20 KTFA, News Dinar Recaps 20
KTFA:
Clare: IBBC to Host Innovation Conference in Baghdad Next Month
1/25/2025 Baghdad –
The Iraqi-British Business Council-IBBC announced on Saturday that it will organize an innovation conference next month in the capital, Baghdad, This announcement follows a successful visit by Prime Minister Mohamed Shia’ al-Sudani to the United Kingdom.
In a report followed by the Iraqi News Agency (INA), IBBC stated that “Iraq is stable, its economy is expanding and diversifying to meet the needs of the people.
KTFA:
Clare: IBBC to Host Innovation Conference in Baghdad Next Month
1/25/2025 Baghdad –
The Iraqi-British Business Council-IBBC announced on Saturday that it will organize an innovation conference next month in the capital, Baghdad, This announcement follows a successful visit by Prime Minister Mohamed Shia’ al-Sudani to the United Kingdom.
In a report followed by the Iraqi News Agency (INA), IBBC stated that “Iraq is stable, its economy is expanding and diversifying to meet the needs of the people. IBBC have been asked by the Iraq Prime Minster, Mr Al Sudani, to hold a Baghdad conference on Innovation”.
“Following a successful visit to the UK by the Prime Minister and several of his top ministers, a significant trade deal was announced with UK and Iraq, estimated at $15bn, across several sectors, to include cutting edge technology and knowledge transfer to Iraq. Some of these companies will be speaking at the Baghdad conference and the conference is dedicated to the theme of delivering innovation,” the statement added.
The statement further noted,"The purpose of the conference will showcase how Iraq is currently delivering Innovation and what might be possible to do soon, with the help of the Uk and International partners. IBBC has several members already delivering innovative solutions and products in Iraq, which will be showcased at the conference. We will be examining the power of knowledge transfer across all the panels and discussing what Iraq needs to do to deliver this internally, and the benefits of delivering innovation successfully".
The statement elaborated that"In his paper on ‘ease of doing business in Iraq’ Professor Frank Gunter, who is speaking, pointed out that modernising and digitising the financial system, not only will enable swifter transactions, access to and international funds, but also reduce the opportunities for corruption. Both EY and Hogan Lovells will explain their work on modernising the Central bank systems of Iraq and consolidation among banks and banking reforms,”
Stressing that “1001 is a leading Anglo- Iraqi streaming company that has already signed up over 2 million subscribers, but it is focused on protecting Intellectual property in Iraq, and this is a new opportunity for Iraqis to produce content, derive income and tax receipts from subscriptions. We expect to be joined by companies discussing 5G technology, and provision of fast internet for the delivery of state-of-the-art communications and explaining the importance of cyber protection for Iraqi assets, communications, and defence”. LINK
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Clare: Minister of Trade: The 48th session of the Baghdad International Fair will be distinguished in terms of preparation, size and diversity of participation
1/25/2025 Baghdad /
Minister of Trade, Athir Dawood Al-Ghariri, confirmed that the 48th session of the Baghdad International Fair will be exceptional this year in terms of preparations, organization, and the size and diversity of participation compared to previous sessions.
Al-Ghariri pointed out, during an inspection tour conducted by the minister on Saturday evening to review the final preparations for the launch of the exhibition activities, scheduled to be held from February 1 to 7, under the patronage of the Prime Minister, and under the slogan "Investment - Development - Prosperity"; that the exhibition will represent an important platform to attract Arab and foreign investors, as meetings will be held for the public and private sectors on its sidelines, in addition to signing partnership contracts for projects in various fields.
The minister explained that "the exhibition will host participants from 20 Arab and foreign countries, with more than a thousand local and international companies, and the Sultanate of Oman is the guest of honor of the 48th session.
" Al-Ghariri stressed that "the new session will be characterized by innovative designs that include green spaces, modern pavilions, restaurants, fountains, and illuminated visual graphics, in addition to implementing new mechanisms for visitors' entry, in addition to organizing cultural and entertainment events and various competitions during the days of the exhibition."
At the end of the tour, the Minister directed the necessity of completing all preparations within the specified timeframes and with the combined efforts of everyone. LINK
Clare: Will spending be disrupted by delaying the budget amendment? A government advisor explains
1/24/2025
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the disbursement mechanism in the event that the amendment to the financial budget law is not approved.
Saleh told Al Furat News Agency: "There is a legal rule that stipulates that the special law restricts the general law, and since the Federal General Budget Law No. 13 of 2023 is the basis for legislation for the state budget for the year 2025 within the scope of the federal general budget legislation and is specialized for three years, there is no other text that adds to the suspension of work on it."
He added, "I also do not see that one article, which is 77/second, related to submitting tables related to estimates for implementing the 2025 budget and according to the required adjustments, will restrict work in implementing the general budget originally legislated in 2023 and resorting to Law No. 6 of 2019, as amended, and we mean the Federal Financial Management Law.
" Saleh continued, "Despite that, we do not see anything that hinders the submission of the state's general budget tables for the year 2025, as the financial authority has the ability and sufficient tools to submit them in the appropriate coming period and according to a broad technical consultation circle between the executive and legislative authorities and in a manner that serves the national interest of the country and the government program."
Saleh said that "government spending is proceeding normally, in addition to public revenues, and there is nothing restricting the elements of implementing the general budget, except for the amendment currently before the House of Representatives."
Raghad LINK
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Clare: Good news for Iraqi employees.. Parliamentary Finance announces the date of launching bonuses and promotions
1/24/2025
The Finance Committee in the Iraqi Council of Representatives clarified on Friday that it is waiting for the Iraqi government to send the 2025 budget schedules for approval, and while it expected the date for launching employee allowances and promotions according to the applicable timetable, it confirmed that allowances and promotions are a natural right of employees from the Ministry of Finance.
"The budget approved in 2023 is a three-year budget for the years (2023, 2024 and 2025), and the change that occurred as a first stage is the amendment to Article 12/Second/C only, which is regarding the resumption of oil exports from the Kurdistan Region with a capacity of 400 thousand barrels of oil, at a cost of extracting and transporting one barrel of $16 instead of $6, and this was read in the first reading, and the discussion remains in the second reading and then voting on the amendment, and after this amendment there are no other amendments to the budget," committee member, Moeen Al-Kadhimi, told Shafaq News Agency.
Al-Kadhimi added, "The Finance Committee is waiting, after the budget amendment is completed, for the government to send the budget tables that will show whether there are specific increases or otherwise."
Regarding employee bonuses and promotions, Al-Kadhimi explained, "This is related to the Ministry of Finance, which issued a statement suspending bonuses until the budget is approved, and according to the timetable in effect, bonuses may be added to employee salaries next February, which is a natural right of employees over the Ministry of Finance."
On January 17, the Iraqi Ministry of Finance confirmed that employees’ rights to bonuses and promotions are “fully preserved.”
The Ministry's media said in a statement received by Shafak News Agency, "Based on the Ministry of Finance's circular No. (555) for the year 2025, we would like to clarify that the procedures related to stopping the transfer of services, promotions, calculating contract services, press and legal services, and others, are regulatory procedures that are adopted annually to accurately determine financial allocations."
She added that "transferring services from one entity to another requires transferring allocations, which currently cannot be implemented due to the lack of 2025 budget schedules, as this allows knowing the financial allocations for each entity to ensure that there are no violations or imbalances in the financial distribution."
She explained that she is working to "ensure the regulation of government spending and determine the ceilings of financial allocations for ministries and entities not affiliated with a ministry, including the Kurdistan Region."
The ministry stressed, according to the statement, "the importance of following up on new appointments and knowing the numbers of direct and indirect employees to avoid any funding shortage and ensure that salaries are paid correctly during the current month of January."
The Ministry stressed that "employees' rights to bonuses and promotions are fully preserved, and that they are calculated in accordance with the Legal Department's Circular No. (7497) dated 3/9/2021, which is calculated from the date of entitlement and not from the date of issuance of the ministerial order."
The ministry noted that "the procedures for direct admission of top students and graduates for the year 2024, launched by the Federal Service Council, have not been fully completed, and their data is still being updated."
The ministry indicated that "most of the financial allocations for the new grades for the year 2024 were included in the schedules of the ministries' headquarters, but the actual direct actions and distribution took place at the level of the departments, and have not yet been sent to the Ministry of Finance. Therefore, the ministry is currently working on following up on the financial costs of the employees to include them correctly and to ensure that there is no shortage in the allocation from the 2025 estimates schedules." LINK
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COMER INVESTIGATES APPARENT POLITICALLY MOTIVATED DEBANKING OF THIRTY TECH FOUNDERS, FIRST LADY MELANIA TRUMP
WASHINGTON—House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) is investigating recent reports of financial institutions debanking lawful American businesses and individuals based on political affiliation or involvement in industries viewed unfavorably by the Biden Administration.
On a recent episode of “The Joe Rogan Experience,” renowned tech investor and entrepreneur, Marc Andreessen, revealed thirty tech founders who were debanked over the last four years — describing the debanking as pressure against “political enemies” and “disfavored tech startups.”
Good Afternoon Dinar Recaps,
COMER INVESTIGATES APPARENT POLITICALLY MOTIVATED DEBANKING OF THIRTY TECH FOUNDERS, FIRST LADY MELANIA TRUMP
WASHINGTON—House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) is investigating recent reports of financial institutions debanking lawful American businesses and individuals based on political affiliation or involvement in industries viewed unfavorably by the Biden Administration.
On a recent episode of “The Joe Rogan Experience,” renowned tech investor and entrepreneur, Marc Andreessen, revealed thirty tech founders who were debanked over the last four years — describing the debanking as pressure against “political enemies” and “disfavored tech startups.”
Chairman Comer is asking Mr. Andreessen, as well as five additional tech leaders who have spoken publicly about debanking, to share their stories with the Oversight Committee and shed light on why debanking occurs and how it affects business operations.
“Several tech leaders within the cryptocurrency space have been outspoken about their experience being debanked. In 2022, Uniswap Labs Founder and CEO Hayden Adams explained that his bank ‘closed my bank accounts with no notice or explanation,’ and that ‘I know many individuals and companies who have been similarly targeted simply for working in the crypto industry.’
Coinbase Co-Founder and CEO Brian Armstrong confirmed thirty tech founders were debanked, statingthen-Securities and Exchange Commission (SEC) Chair Gary Gensler, ‘tried to unlawfully kill our entire industry[.]’
Coinbase’s Chief Legal Officer, Paul Grewal,said,‘[f]inancial regulators have used multiple tools at their disposal to try to cripple the digital-asset industry,’”wrote Chairman Comer.
The Oversight Committee is also investigating whether these debanking practices originated from activists within each financial institution or from undue outside pressure.
In May 2014, the Oversight Committee released a staff report exposing the Obama Administration’s efforts to politically force companies the Administration viewed as unfavorable out of the banking system.
Considering the public statements of prominent tech leaders and recent evidence that Melania Trump and Barron Trump were also debanked for their political ties, the Oversight Committee is looking into how the Obama Administration’s overreach may have laid a foundation for the Biden Administration to institute similar tactics.
“These examples are startling, and the Committee is investigating whether this debanking practice originates from the financial institutions themselves or from either implicit or explicit pressure from government regulators,”continued Chairman Comer.
“The Committee is interested in engaging individuals who have been debanked and, specifically, how these actions hurt innovation, entrepreneurs, and workers. Further, to better inform the Committee’s investigation, the Committee seeks to understand the financial institutions and regulators involved, the reasons tech founders were given as to why they were debanked, and how this overreach affected business operations.”
@ Newshounds News™ Source:
Read the letter here:House Oversight - Letter
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TRUMP PLANS ZERO CAPITAL GAINS TAX FOR US CRYPTO PROJECTS – HERE ARE THE BENEFITS!
▪️The Trump administration is considering a zero capital gains tax for US-based cryptocurrency projects, potentially making them more attractive to investors. ▪️Non-US crypto projects may face a 30% capital gains tax, creating a clear tax advantage for US-based ventures. ▪️The policy could significantly boost US crypto innovation, making the country a key player in the global blockchain industry.
The United States is preparing to introduce a significant tax relief policy aimed at boosting crypto innovation and attracting investment. Eric Trump, son of President Donald Trump information recently suggested that the Trump administration might introduce a zero capital gains tax policy specifically for cryptocurrency projects.
But will this policy benefit only US-based projects, or will non-US ventures also see relief?
Zero Capital Gains Tax for US Crypto Projects
Reports indicate that US-based crypto projects, including popular ones like XRP and HBAR, will benefit from the zero capital gains tax policy. This announcement has stirred excitement in the crypto industry, with many believing that the policy could make US-based projects even more appealing to investors and developers.
Non-US Projects Left Behind
However, the policy is unlikely to offer any relief to non-US crypto projects. Eric Trump stated that these projects would be subject to a 30% capital gains tax. This creates a clear tax divide between US-based and non-US ventures, raising concerns about the potential impact on global crypto competition.
US-based Crypto Projects: An Overview
Experts believe the sharp difference in tax rates is designed to give US projects a competitive edge while encouraging crypto companies to establish operations within the United States. The total market cap of US-linked cryptocurrencies now stands at $550 billion, with a 24-hour trading volume of $37.47 billion
The “Made in USA” category includes cryptocurrencies with strong ties to the United States. The top ten cryptos in this category by market cap are XRP, Solana, USDC, Cardano, Chainlink, Avalanche, Stellar, Hedera, Sui, and Polkadot.
Positive Trends for US-Based Cryptos
Over the past 30 days, most of the top ten cryptos in this category have shown strong growth. XRP has risen by 42%, Solana by 31.7%, and Cardano by 12.3%. Chainlink, Stellar, and Hedera have also experienced positive movements. However, not all US-based cryptos have performed equally well—Avalanche, Sui, and Polkadot saw declines during this period.
Conclusion
The Trump administration’s proposed crypto tax relief policy could be a game-changer for the industry. If implemented, it could create a favorable environment for US-based crypto projects, while potentially challenging non-US players.
The coming months will determine whether this tax relief can turn the US into the ultimate destination for crypto innovation.
@ Newshounds News™
Read more:Coinpedia
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MUSK EXPLORING BLOCKCHAIN USE TO CURB US GOVERNMENT SPENDING: REPORT
Elon Musk has previously stated that he wants to cut $1 trillion to $6.5 trillion in annual federal spending to help balance the budget.
Elon Musk, the head of the Department of Government Efficiency (DOGE), is reportedly exploring implementations of blockchain technology in US government operations to track and reduce federal spending.
According to Bloomberg, the DOGE is also looking at using blockchain to secure data, make payments, and manage buildings as part of the DOGE's efficiency push.
Personnel from the newly commissioned non-government department have also met with representatives from public permissionless blockchain networks to consult about potential use by the US government.
The initiative is part of Musk's broader goal of eliminating trillions of dollars from the annual federal budget and ensuring government accountability through transparency.
Blockchain to force government transparency?
Musk's push to use blockchain technology to force government transparency is not a new idea in US politics.
In April 2024, former Presidential candidate Robert F. Kennedy Jr. said he wanted to put the entire federal budget onchain.The politician told an audience at a Michigan rally:
“Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day. We are going to have 300 million eyeballs on our budget. If somebody is spending $16,000 for a toilet seat, everybody will know about it.”
Kennedy's proposal was met with widespread support from small government and sound money advocates, who argued that US government spending was out of control.
Department of Government Efficiency takes first steps
The Department of Government Efficiency launched its website on Jan. 21and officially adopted the DOGE logo used by the world's first memecoin, Dogecoin.
Following the website's launch, the price of Dogecoin rallied by approximately 11% to $0.38.
On Jan. 20, former Presidential candidate, entrepreneur, and DOGE co-founder Vivek Ramaswamy announced he was stepping away from the project to focus on running for governor of Ohio.
"I’m confident that Elon and his team will succeed in streamlining government,"Ramaswamy wrote in an X post, hinting at his plans to run for office in an official capacity.
@ Newshounds News™
Source:CoinTelegraph
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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
Prepare for Deflation as Economy Crashes
WTFinance: 1-24-2025
The WTFinance recently had the pleasure of welcoming back Henrik Zeberg, a renowned Macro Economist and Founder and Publisher of the Zeberg Report.
During the conversation, Henrik shared his insights on a range of topics, from the surprising resilience of the economy and the Trump economic boom to the potential for a recession, the role of the FED, and the impact of China on the global economy.
Prepare for Deflation as Economy Crashes
WTFinance: 1-24-2025
The WTFinance recently had the pleasure of welcoming back Henrik Zeberg, a renowned Macro Economist and Founder and Publisher of the Zeberg Report.
During the conversation, Henrik shared his insights on a range of topics, from the surprising resilience of the economy and the Trump economic boom to the potential for a recession, the role of the FED, and the impact of China on the global economy.
Henrik expressed his surprise at the resilience of the economy, particularly in light of the ongoing trade tensions and geopolitical risks. He noted that the economy has been stronger than expected, but warned that this strength may not last.
Henrik attributed much of the current economic strength to the policies of the Trump Administration, including tax cuts and deregulation. However, he cautioned that this boost may be short-lived and that the economy could face headwinds in the coming months.
Henrik suggested that the FED may be making a mistake by raising interest rates, as this could put a strain on consumers and businesses and potentially trigger a recession. He urged the FED to proceed with caution and to carefully consider the potential consequences of their actions.
Henrik was asked if he sees the West moving towards a China-like deflation scenario. He responded that he does not believe this to be the case, as the economies of the West are fundamentally different from that of China. However, he did note that there are some similarities and that the West should be mindful of the risks of deflation.
Henrik was also asked about the impact of China on Europe. He stated that China’s slowing economy is having a negative effect on Europe, particularly in countries with close economic ties to China. He urged European leaders to be aware of this impact and to take steps to mitigate it.
Henrik described his view of the market as “cautiously optimistic.” He believes that there are opportunities for investors, but that they should be selective and focus on companies with strong fundamentals. He also urged investors to be prepared for volatility and to have a well-diversified portfolio.
Henrik stressed that he does not believe that this time is different and that investors should not be lulled into a false sense of security. He urged them to remember the lessons of the past and to be prepared for potential downturns.
Henrik was asked about the current market narrative. He stated that the narrative is currently focused on the potential for a trade deal between the US and China, as well as the impact of the FED’s actions on the economy. He urged investors to pay attention to these narratives but not to let them drive their investment decisions.
Henrik was asked if he sees crypto diverging from the NASDAQ. He responded that he does see the potential for this, as crypto is becoming increasingly mainstream and is seen by some as a safe haven asset. However, he cautioned that the crypto market is still highly volatile and that investors should approach it with caution.
Henrik was unable to provide a specific answer to this question, as the crypto market is highly unpredictable. He urged investors to do their own research and to make informed decisions based on their own risk tolerance.
The one message that Henrik wanted listeners to take away from the conversation was to be vigilant and to remain aware of the risks and opportunities in the current economic environment. He urged them to stay informed and to make decisions based on sound economic principles and their own risk tolerance.
In conclusion, the conversation with Henrik Zeberg provided valuable insights into the current economic environment and the potential risks and opportunities for investors. By staying informed and vigilant, investors can make informed decisions and position themselves for success in the coming months and years.
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An Economist Shows The Monthly Government Spending And Its Impact On The Rise Of The Dollar
Friday 24 January 2025 18:48 | Economic Number of readings: 137 Baghdad / NINA / Economic expert Manar Al-Obaidi revealed today, Friday: "The average monthly spending of the Iraqi government in 2024 amounted to about 12 trillion dinars," noting that: "Adding the loans and advances obtained by government agencies and ministries, which are estimated at about 2 trillion dinars per month, raises the total government spending to 14 trillion dinars per month."
Al-Obaidi said in a statement: "The government sector usually works for 20 days a month, which means that the daily spending rate is about 700 billion Iraqi dinars," noting that "to cover this level of spending, the Ministry of Finance needs to sell at least $ 400 million per day to the Central Bank, so that the latter can provide the cash needed to cover government expenditures."
An Economist Shows The Monthly Government Spending And Its Impact On The Rise Of The Dollar
Friday 24 January 2025 18:48 | Economic Number of readings: 137 Baghdad / NINA / Economic expert Manar Al-Obaidi revealed today, Friday: "The average monthly spending of the Iraqi government in 2024 amounted to about 12 trillion dinars," noting that: "Adding the loans and advances obtained by government agencies and ministries, which are estimated at about 2 trillion dinars per month, raises the total government spending to 14 trillion dinars per month."
Al-Obaidi said in a statement: "The government sector usually works for 20 days a month, which means that the daily spending rate is about 700 billion Iraqi dinars," noting that "to cover this level of spending, the Ministry of Finance needs to sell at least $ 400 million per day to the Central Bank, so that the latter can provide the cash needed to cover government expenditures."
He pointed out: "The Central Bank cannot provide the Iraqi dinar needed by the Ministry of Finance, except by selling its equivalent in dollars."
The economic expert explained: "The dollar sales by the Central Bank are directly linked to the increase in the size of government spending," indicating that: "The more spending, the more the Central Bank needs to sell larger quantities of dollars."
He added: "If this trend continues, we may reach a stage where the market witnesses daily sales ranging between 400 and 500 million dollars through the various mechanisms adopted by the Central Bank," warning that this reflects the direct impact of the rise in public expenditures on the currency market." / End8 https://ninanews.com/Website/News/Details?Key=1181860
Hanan Al-Fatlawi Calls On Parliament To Pass The Budget Amendment As Quickly As The “Three Laws” Were Approved
Friday 24 January 2025 | Politics Number of readings: 103 Baghdad / NINA / The head of the / Will / bloc, MP Hanan Al-Fatlawi, called on the House of Representatives to pass the amendment to the three-year budget law with the same speed with which it passed the three laws.
Al-Fatlawi said in a post on the / X / platform: "I call on the House of Representatives to pass the budget amendment with the same speed with which it passed the three laws within seconds."
She added: "Keeping the budget unamended means that the government will continue to pay one trillion dinars per month in salaries to the region, while companies in the region continue to produce 320 thousand barrels per day (870 billion dinars per month) that are smuggled outside Iraq and sold at low prices, much lower than SOMO prices, in addition to Turkey demanding a fine of $ 24 million per month for not exporting oil through the Iraqi pipeline extending to Ceyhan."
Last Tuesday, the House of Representatives voted on the three controversial laws (amending the Personal Status Law, amending the General Amnesty Law, and the Law on Returning Seized Lands to Their Owners) using the “one-basket” method, which sparked protests and objections from many representatives and political blocs, and resorted to challenging the legality of the vote, considering that the necessary quorum was not completed. https://ninanews.com/Website/News/Details?key=1181868
Prices Fall Below $80
Buratha News Agency 13420 25-01-24 Iraqi oil prices fell during the opening of trading today, Friday (January 24, 2025), below $80 per barrel for the first time in more than two weeks in the global market.
According to data, Basra Heavy crude recorded $76.59 per barrel, while the average recorded $79.85 per barrel, with a change of -0.35, respectively, for March 2025 delivery.
The data also showed a decline in global crude prices, with British Brent crude recording $78.26, while US West Texas Intermediate crude recorded $74.59 per barrel, with a change of -0.03 for both.
https://burathanews.com/arabic/economic/455515
Oil Falls As Trump Pressures For More Supplies, Lower Prices
Economy | 01/24/2025 Mawazine News – Baghdad Oil markets fell on Friday, a day after US President Donald Trump urged OPEC and its de facto leader Saudi Arabia to lower prices in a broad effort to boost crude output.
Brent crude futures were down 50 cents at $77.95 a barrel by 0044 GMT. U.S. West Texas Intermediate (WTI) crude was down 31 cents at $74.31. Trump said in a speech on Thursday at the World Economic Forum in Davos, Switzerland, that he would ask OPEC to lower the cost of a barrel of crude. He said he would ask Riyadh to increase its investment package in the United States to $1 trillion, up from $600 billion reported by the Saudi state news agency earlier in the day.
Analysts said uncertainty over Trump’s tariff policies and the possibility that the new president would push for higher U.S. oil production also weighed on crude futures.
But to prevent further declines, U.S. crude inventories fell last week to their lowest since March 2022, data from the U.S. Energy Information Administration showed. https://www.mawazin.net/Details.aspx?jimare=258939
Saleh: Serious Government Move To Stimulate The Insurance Sector In Iraq
Local | 12:57 - 01/24/2025 Mawazine News – Baghdad The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Friday, that there is a serious government trend to activate the insurance sector in Iraq.
Salih said: "Activating the insurance sector in Iraq and addressing the absence of insurance culture as a means of financial protection requires considering several intertwined factors, some of which relate to the movement of the overall economy, and others to the societal culture,
including reviewing existing legislation, including, for example, the importance of providing tax incentives for companies and individuals who choose insurance and supporting small and medium-sized companies to provide innovative insurance products that meet market needs.
" He added, "Based on that, I find it important to design insurance products that suit different categories, such as agricultural insurance and disaster insurance, and to inform citizens that there is mandatory insurance for car accidents, as there is an approved mechanism in this regard that not many people know about, and it is part of the absent societal culture towards mandatory insurance in the country,"
indicating that "citizens' confidence in non-banking financial institutions must be enhanced, including insurance activity in particular, which is reflected in the development of the insurance sector as a whole and its interconnections in the entire national economy."
He added that "the disparity in purchasing power of many segments of society makes them focus on basic needs instead of future financial planning, and for inherited reasons as well due to years of wars, conflicts, and social and economic changes that have affected society."
He pointed out that "the decline in insurance culture is the main factor in the lack of development of this vital sector due to the lack of knowledge of the benefits of insurance and its importance as a means of financial protection, as families, communities, and clans are often relied upon to confront risks instead of resorting to appropriate insurance solutions guaranteed by law."
He stressed "the need to build integrated awareness programs targeting youth and various business sectors and improve the level of services in a way that enhances trust between customers and insurance companies, in addition to increasing the number of options provided by current insurance companies and activating the use of digital technology to improve the customer experience in terms of easy access to insurance services,"
noting "the importance of promoting partnership between the state and the private sector in the scope of life insurance, its services, and its institutions, and I find that it represents the second phase of the financial and economic reform undertaken by the government program."
He pointed out that "there is a serious government trend towards activating the insurance sector as it is the financial guarantor of the individual's and society's life, due to its significant positive impact on the national economy in general and the development of the financial market in particular by reducing risks and enhancing financial stability in the country."https://www.mawazin.net/Details.aspx?jimare=258947
President Of The Republic Reviews Iraq's Long-Term Economic Development Plan In Davos
Politics | 01/24/2025 Mawazine News – Baghdad President of the Republic Abdul Latif Jamal Rashid reviewed, on Friday, the main points of Iraq's plan for a long-term economic development strategy at the Davos Conference Center.
A statement by the Presidency of the Republic received by "Mawazine News" stated that "President of the Republic Abdul Latif Jamal Rashid participated in a dialogue session entitled (Towards a more stable land through land reclamation) at the Davos Conference Center."
The statement added that "during the session, which was attended by the Under-Secretary-General of the United Nations and Executive Secretary of the United Nations Convention to Combat Desertification Ibrahim Thiaw, the South African Minister of Agriculture Gwen Steenhuizen, the Executive Director of the Consultative Group on International Agricultural Research Asmahan Al-Wafi, the Executive Director and CEO of New Aero Farms Molly Montgomery, and the Deputy Prime Minister of Mongolia Togmeddin Dorjkhand, the President delivered a speech in which he emphasized his experience as an engineer specializing in water management with decades of experience, and he has devoted a large part of his career to addressing water scarcity issues and developing sustainable land use methods."
In his speech, the President explained the pressures that Iraq is facing due to climate change, water scarcity and desertification, stressing that "Iraq does not stand idly by in the face of these challenges, but has taken decisive and tangible steps to confront them through effective policies aimed at achieving sustainable development."
The statement continued, "The President reviewed the main points of Iraq's plan for a long-term economic development strategy, especially in the areas of agriculture, energy and water security," noting that "Iraq is currently participating in ongoing negotiations with neighboring countries such as Turkey and Iran, with the aim of concluding fair agreements to share the waters of the Tigris and Euphrates rivers,"
indicating that "these negotiations represent a strategic priority for the future of our region, in addition to its work at the international level with specialized international organizations to adopt agricultural practices that are resistant to climate change and ensure access to the necessary funding and expertise to achieve success."
The statement continued, "The session was attended by Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein, Chairman of the Advisory and Experts Authority in the Presidency of the Republic Ali Al-Shukri, and the Iraqi Ambassador to the Swiss Confederation Mohammed Al-Dabbagh."
Here is the text of the speech:
“I am pleased to be with you today at this important meeting. As a water management engineer with decades of experience, I have devoted a large part of my career to addressing water scarcity issues and developing sustainable land use methods.
These challenges are not new to me, nor are they merely theoretical issues; they are urgent realities that require us to act quickly. I am pleased to share with you today Iraq’s strategies to address these issues effectively and directly.
Today’s session, entitled “Towards A More Stable Land Through Land Reclamation,” focuses on a critical global challenge: land degradation.
40% of the world’s land has lost its fertility, threatening the stability of our economic and social environments. This phenomenon has caused a decline in agricultural productivity, pollution of waterways, and increasing and accelerating drought, putting economies and livelihoods around the world at risk.
Iraq is no exception to these challenges. About 39% of our land is exposed to desertification, at a time when our water resources, which are the basis of agriculture and livelihoods, are under increasing pressure.
The situation is exacerbated by climate change, rising temperatures, and declining water flows from rivers coming from neighboring countries.
However, Iraq is not standing idly by in the face of these challenges. We are taking decisive and tangible steps to confront them, through effective policies aimed at achieving sustainable development.
Let me review with you some of the main initiatives that we have begun to implement:
* The first and most important step is to improve the management of our existing water resources, by enhancing water use efficiency, developing modern irrigation systems, and collecting rainwater to use it for irrigating land.
* A ten-year federal national program to combat desertification: This program focuses on reforestation, soil conservation, and adopting sustainable agricultural methods.
* Expanding green belt projects: We are in the process of establishing buffer zones around our cities, to reduce the risk of desert encroachment by using local plants that are drought tolerant.
These efforts are an integral part of Iraq’s long-term economic development strategy, particularly in the areas of agriculture, energy and water security.
Sustainable development is the real guarantee of balanced growth that preserves the health of our environment for future generations.
As part of our quest for sustainable development, we are shifting towards renewable energy. We are also working to promote climate-smart agriculture, diversify crops, encourage organic and regenerative agriculture, and tighten legal regulations for sustainable land use practices.
Addressing our water challenges requires cross-border cooperation.
Iraq is currently engaged in ongoing negotiations with neighboring countries such as Turkey and Iran to conclude fair agreements for sharing the waters of the Tigris and Euphrates rivers. These negotiations represent a strategic priority for the future of our region.
Iraq is working internationally, alongside global organizations such as the United Nations Convention to Combat Desertification, the Food and Agriculture Organization (FAO), the World Food Programme (WFP), and the World Bank, to adopt climate-resilient agricultural practices and ensure access to the financing and expertise necessary for success.
In conclusion, we know that sustainable solutions can only be achieved through effective local action and community engagement, which is the foundation of our strategy to address challenges.
Ladies and gentlemen,
land reclamation is not just an environmental imperative, it is a moral responsibility towards future generations.
It is about protecting livelihoods, preserving ecosystems and ensuring a sustainable future for us and our children. Iraq is committed to this mission and I look forward to working with all of you to achieve these common goals. Thank you." https://www.mawazin.net/Details.aspx?jimare=258960
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
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Good Morning Dinar Recaps,
SATOSHI'S BITCOIN: RIPPLE CTO SHARES KEY XRP, BTC INSIGHT In a recent discussion about the circulating supply of XRP,Ripple CTO David Schwartzdraws parallels with Bitcoin and the coins attributed to its mysterious creator, Satoshi Nakamoto.His remarks highlighted the complexity of defining what constitutes"circulating supply"in the crypto landscape. An X user had drawn attention to the disparity in XRP's circulating supply reported by the crypto ranking platform CoinMarketCap and popular XRP explorer XRPScan.
Good Morning Dinar Recaps,
SATOSHI'S BITCOIN: RIPPLE CTO SHARES KEY XRP, BTC INSIGHT
In a recent discussion about the circulating supply of XRP,Ripple CTO David Schwartzdraws parallels with Bitcoin and the coins attributed to its mysterious creator, Satoshi Nakamoto.His remarks highlighted the complexity of defining what constitutes"circulating supply"in the crypto landscape.
An X user had drawn attention to the disparity in XRP's circulating supply reported by the crypto ranking platform CoinMarketCap and popular XRP explorer XRPScan.
CoinMarketCap reportsXRP's current circulating supply as 57.64 billion XRP,while according to a screenshot shared by the X user,XRPScan reported 62.23 billion XRP.
Addressing this speculation, Schwartz explained,"How you measure circulating supply depends on what you consider to be circulating and what you don’t consider to be circulating."He continued,"For a Bitcoin analogy, are Satoshi’s bitcoins circulating? Reasonable people can even disagree on which bitcoins are Satoshi’s."
Satoshi owned Bitcoin in spotlight
The analogy made by the Ripple CTO is particularly relevant given that Satoshi Nakamoto is believed to own over 1 million BTC, which have remained untouched since Bitcoin’s early days.
While these coins technically exist on the blockchain, many in the crypto community believe they are essentially out of circulation due to their inactivity.
According to CoinMarketCap, Bitcoin's total and circulating supply is presently 19.81 million BTC, with a maximum supply of 21 million BTC.Ripple's XRP holdings are divided into two categories:XRP that is currently available in its wallets, andXRP subject to on-ledger escrow lockups that will be released monthly over the next 42 months.
For this latter category, Ripple does not have access to this XRP until the escrow releases it to them monthly.Every month, the remaining XRP released is returned to the escrow account.
@ Newshounds News™
Source:U Today
~~~~~~~~~
BRICS: IS THE ALLIANCE COMMON CURRENCY PLAN OFFICIALLY OVER?
For the last several months, the BRICS economic alliance has drawn the ire of the United States due to its plan to create a common currency. Indeed, newly elected president Donald Trump has threatened 100% tariffs on nations within the bloc that are seeking to ditch the US dollar.
However, recent months have seen the bloc speak up about the plan and its place in the group’s operations.Those statements have started to place doubt on whether the initiative is even moving forward with the collective.So, is the BRICS Common Currency Plan officially over? Here’s what the alliance has said.
BRICS Speaks on Common Currency Plan: Is It Moving Forward?
For much of the last two years, the BRICS alliance has sought to engage in widespread de-dollarization efforts. With increased sanctions coming from the West, the bloc has sought to lessen its reliance on the currency and promote its own local alternatives within trade. Specifically, this took place through the creation of their own BRICS Pay system that has made major strides since 2024.
Somewhere along the line, the alliance discussed the creation of its own currency to rival the dollar.That seemed to be the final straw, as it drove increased opposition from the West.
With 100% tariff threats being shared, the BRICS common currency plan may have been ceased by the bloc. At least, that is how it seems based on recent statements.
Firstly, officials from South Africa quickly dispelled rumors of an imminent BRICS currency.They noted, according to a recent report, that their focus remained on increasing trade with local currencies. Additionally, they noted that such action only increased the financial stability of the alliance itself.
Finance Minister Enoch Godongwanaemphasized thatback in September,he noted thatthe bloc has yet to decide on the implementation of a digital currency that would be created under the umbrella of the BRICS alliance.
However, the Department of International Relations and Cooperationclarifiedthe purpose of this was not “de-dollarization.” Instead, on strengthening banking network and alliance infrastructure
Finally, India has also spoken out about the process.Reserve Bank of India Governor Shaktikanta Das noted that the currency plan remained nothing more than an idea presented by a single member.
“BRICS Currency was an idea raised by one of the members and was discussed, but no decision has been made,”Das noted.It is likely Russia was behind the idea.The pressure of ongoing sanctions has had Moscow leading the bloc’s de-dollarization charge for much of the last year.
@ Newshounds News™
Source:Watcher Guru
~~~~~~~~~
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TNT:
Tishwash: Halliburton to Develop 2 Oil Fields in Iraq
The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra.
According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management Services (IFMS) and the EPCM model, aligning with national efforts and licensing round frameworks.
The South Gas Company (SGC) and Halfaya Gas Company (HGC) signed a contract for the development and processing of gas from the Nahr Bin Umar last year, while China's United Energy Group (UEG) was awarded the contract for Sindbad in 2018.
TNT:
Tishwash: Halliburton to Develop 2 Oil Fields in Iraq
The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra.
According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management Services (IFMS) and the EPCM model, aligning with national efforts and licensing round frameworks.
The South Gas Company (SGC) and Halfaya Gas Company (HGC) signed a contract for the development and processing of gas from the Nahr Bin Umar last year, while China's United Energy Group (UEG) was awarded the contract for Sindbad in 2018.
(Source: Media Office of the Prime Minister) link
Tishwash: Will spending be disrupted by delaying the budget amendment? A government advisor explains
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the disbursement mechanism in the event that the amendment to the financial budget law is not approved.
Saleh told Al Furat News Agency: "There is a legal rule that stipulates that the special law restricts the general law, and since the Federal General Budget Law No. 13 of 2023 is the basis for legislation for the state budget for the year 2025 within the scope of the federal general budget legislation and is specialized for three years, there is no other text that adds to the suspension of work on it."
He added, "I also do not see that one article, which is 77/second, related to submitting tables related to estimates for implementing the 2025 budget and according to the required adjustments, will restrict work in implementing the general budget originally legislated in 2023 and resorting to Law No. 6 of 2019, as amended, and we mean the Federal Financial Management Law.
" Saleh continued, "Despite that, we do not see anything that hinders the submission of the state's general budget tables for the year 2025, as the financial authority has the ability and sufficient tools to submit them in the appropriate coming period and according to a broad technical consultation circle between the executive and legislative authorities and in a manner that serves the national interest of the country and the government program."
Saleh said that "government spending is proceeding normally, in addition to public revenues, and there is nothing restricting the elements of implementing the general budget, except for the amendment currently before the House of Representatives." link
************
Tishwash: President of the Republic reviews Iraq's long-term economic development plan in Davos
President Abdul Latif Jamal Rashid reviewed, on Friday, the main points of Iraq's plan for a long-term economic development strategy at the Davos Conference Center.
A statement by the Presidency of the Republic received by "Mawazine News" stated that "President Abdul Latif Jamal Rashid participated in a dialogue session entitled (Towards a more stable land through land reclamation) at the Davos Conference Center."
The statement added that "during the session, which was attended by the Under-Secretary-General of the United Nations and Executive Secretary of the United Nations Convention to Combat Desertification Ibrahim Thiaw, the South African Minister of Agriculture Gwen Steenhuizen, the Executive Director of the Consultative Group on International Agricultural Research Asmahan Al-Wafi, the Executive Director and CEO of New Aero Farms Molly Montgomery, and the Deputy Prime Minister of Mongolia Togmeddin Dorjkhand,
The President delivered a speech in which he emphasized his experience as an engineer specializing in water management with decades of experience, and he has devoted a large part of his career to addressing water scarcity issues and developing sustainable land use methods."
In his speech, the President explained the pressures that Iraq is facing due to climate change, water scarcity and desertification, stressing that "Iraq does not stand idly by in the face of these challenges, but has taken decisive and tangible steps to confront them through effective policies aimed at achieving sustainable development."
The statement continued, "The President reviewed the main points of Iraq's plan for a long-term economic development strategy, especially in the areas of agriculture, energy and water security," noting that "Iraq is currently participating in ongoing negotiations with neighboring countries such as Turkey and Iran, with the aim of concluding fair agreements to share the waters of the Tigris and Euphrates rivers," indicating that "these negotiations represent a strategic priority for the future of our region, in addition to its work at the international level with specialized international organizations to adopt agricultural practices that are resistant to climate change and ensure access to the necessary funding and expertise to achieve success."
The statement continued, "The session was attended by Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein, Chairman of the Advisory and Experts Authority in the Presidency of the Republic Ali Al-Shukri, and the Iraqi Ambassador to the Swiss Confederation Mohammed Al-Dabbagh."
Here is the text of the speech:
“I am pleased to be with you today at this important meeting. As a water management engineer with decades of experience, I have devoted a large part of my career to addressing water scarcity issues and developing sustainable land use methods.
These challenges are not new to me, nor are they merely theoretical issues; they are urgent realities that require us to act quickly. I am pleased to share with you today Iraq’s strategies to address these issues effectively and directly.
Today’s session, entitled “Towards a more stable land through land reclamation,” focuses on a critical global challenge: land degradation.
40% of the world’s land has lost its fertility, threatening the stability of our economic and social environments. This phenomenon has caused a decline in agricultural productivity, pollution of waterways, and increasing and accelerating drought, putting economies and livelihoods around the world at risk.
Iraq is no exception to these challenges. About 39% of our land is exposed to desertification, at a time when our water resources, which are the basis of agriculture and livelihoods, are under increasing pressure.
The situation is exacerbated by climate change, rising temperatures, and declining water flows from rivers coming from neighboring countries.
However, Iraq is not standing idly by in the face of these challenges. We are taking decisive and tangible steps to confront them, through effective policies aimed at achieving sustainable development.
Let me review with you some of the main initiatives that we have begun to implement:
* The first and most important step is to improve the management of our existing water resources, by enhancing water use efficiency, developing modern irrigation systems, and collecting rainwater to use it for irrigating land.
* A ten-year federal national program to combat desertification: This program focuses on reforestation, soil conservation, and adopting sustainable agricultural methods.
* Expanding green belt projects: We are in the process of establishing buffer zones around our cities, to reduce the risk of desert encroachment by using local plants that are drought tolerant.
These efforts are an integral part of Iraq’s long-term economic development strategy, particularly in the areas of agriculture, energy and water security.
Sustainable development is the real guarantee of balanced growth that preserves the health of our environment for future generations.
As part of our quest for sustainable development, we are shifting towards renewable energy. We are also working to promote climate-smart agriculture, diversify crops, encourage organic and regenerative agriculture, and tighten legal regulations for sustainable land use practices.
Addressing our water challenges requires cross-border cooperation.
Iraq is currently engaged in ongoing negotiations with neighboring countries such as Turkey and Iran to conclude fair agreements for sharing the waters of the Tigris and Euphrates rivers. These negotiations represent a strategic priority for the future of our region.
Iraq is working internationally, alongside global organizations such as the United Nations Convention to Combat Desertification, the Food and Agriculture Organization (FAO), the World Food Programme (WFP), and the World Bank, to adopt climate-resilient agricultural practices and ensure access to the financing and expertise necessary for success.
In conclusion, we know that sustainable solutions can only be achieved through effective local action and community engagement, which is the foundation of our strategy to address challenges.
Ladies and gentlemen,
land reclamation is not just an environmental imperative, it is a moral responsibility towards future generations.
It is about protecting livelihoods, preserving ecosystems and ensuring a sustainable future for us and our children.
Iraq is committed to this mission and I look forward to working with all of you to achieve these common goals. Thank you." link
Mot: ... for my next prediction:
Mot: Such a cutie
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MilitiaMan & Crew Iraq Dinar News-2024 Digital Compact-WEF Security & Stability-Development-National Card in USA-
1-24-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
MilitiaMan & Crew Iraq Dinar News-2024 Digital Compact-WEF Security & Stability-Development-National Card in USA-
1-24-2025
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
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Good Afternoon Dinar Recaps,
RIPPLE CEO SPARKS SPECULATION OVER XRP IN US STRATEGIC RESERVE
▪️President Trump signed an executive order creating the Presidential Working Group on Digital Asset Markets, led by venture capitalist David Sacks, to explore the establishment of a strategic national digital assets stockpile. ▪️While many anticipated that the national reserve would primarily consist of Bitcoin, discussions about including Ripple have surfaced, sparking mixed reactions within the crypto community.
Good Afternoon Dinar Recaps,
RIPPLE CEO SPARKS SPECULATION OVER XRP IN US STRATEGIC RESERVE
▪️President Trump signed an executive order creating the Presidential Working Group on Digital Asset Markets, led by venture capitalist David Sacks, to explore the establishment of a strategic national digital assets stockpile. ▪️While many anticipated that the national reserve would primarily consist of Bitcoin, discussions about including Ripple have surfaced, sparking mixed reactions within the crypto community.
Just three days into his presidency, President Donald Trump signed an executive order on Thursday to explore creating a national digital asset stockpile.
While many Bitcoin advocates had hoped for swift action to establish a Bitcoin-only reserve, the order instead focused on the feasibility of a broader national reserve of digital assets.
The executive order also established a Presidential Working Group on Digital Asset Markets, led by venture capitalist David Sacks. The group includes high-profile officials, such as the Treasury Secretary, the Attorney General, and the head of the Securities and Exchange Commission (SEC).
Their mission is to craft a comprehensive federal strategy for regulating cryptocurrencies and stablecoins, laying the groundwork for the U.S. government’s approach to digital finance.
Currently, the U.S. government holds $21 billion worth of crypto assets, primarily Bitcoin. This includes 69,370 bitcoins, set to be auctioned by the U.S. Marshals at the end of 2024.However, discussions about diversifying the reserve to include additional cryptocurrencies have ignited debates within the crypto community.
Ripple Pushes for Inclusion in the Reserve
Reports suggest the Trump administration may prioritize U.S.-founded crypto assets like Ripple (XRP), Solana (SOL), and USDC for the proposed reserve.
Ripple’s $5 million donation to Trump’s inauguration and ongoing dialogue with policymakers have added to speculation about the company’s influence on the administration’s crypto policies. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have reportedly met with President Trump and his advisors to advocate for XRP’s inclusion in the reserve.
Garlinghouse highlighted thatRipple’s mission aligns with the administration’s vision of supporting American innovation and businesses.
In interviews, Garlinghouse has emphasized that a diversified reserve of digital assets would strengthen the U.S.’s competitive edge in the global crypto landscape. “A strategic reserve that combines Bitcoin with other technologies would make sense from both an innovation and a national security standpoint,”he argued. Not everyone supports expanding the reserve beyond Bitcoin. Pierre Rochard, VP of Research at Bitcoin mining firm Riot Platforms, criticized the potential inclusion of XRP.
He claimed Ripple’s lobbying efforts aim to divert attention from Bitcoin, undermining Trump’s campaign commitments to ban central bank digital currencies (CBDCs) and prioritize a Bitcoin-only reserve.
“The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, or banks, it’s Ripple/XRP,”Rochard stated, underscoring his belief thatBitcoin should remain the sole asset in any national crypto reserve.
The idea of a diversified digital asset stockpile has sparked discussions across the crypto industry. Scott Melker, host of The Wolf of All Streets Podcast, shared rumors thatthe reserve could include both Bitcoin and XRP.
While acknowledging the speculative nature of these claims, Melker indicated that his sources were credible. At press time, Bitcoin was trading at $105,380 after increasing by 3.62% in the last 24 hours and by 3.60% over the past week.
@ Newshounds News™
Source:Crypto News Flash
~~~~~~~~~
TRUMP EXEC ORDER DIGITAL ASSETS WORKING GROUP: FED NOT INVITED
Yesterday the White House published President Trump’s executive order on digital financial technology. It creates a digital asset working group, which will be responsible for proposing federal regulatory framework within six months.
White House AI & Crypto Czar David Sacks will chair the group, which consists of the heads of 11 government agencies. That includes the Treasury Secretary, Commerce Secretary, SEC Chair and CFTC Chair. Despite the regulations covering stablecoin payments, the Federal Reserve and other banking regulators are not included.
However, there is a caveat that the Chair can invite other agencies that have relevant expertise.
While the executive order includes evaluating the potential for creating a national digital asset stockpile, it states this will likely come from asset seizures.
The key actions of the executive order are to:
▪️allow access to public blockchains, for people to participate in validating transactions, and preserving self custody of digital assets
▪️enhance US sovereignty by promoting lawful dollar backed stablecoins worldwide
▪️protect access to banking services for all
▪️provide regulatory clarity for digital assets based on technology neutral regulation
▪️prohibit the issuance of a CBDC.
Additionally, the new orderrevokes President Biden’s digital assets executive order and the Treasury’s“Framework for International Engagement on Digital Assets.”
The latter covered quite a bit of ground, with a substantial proportion relating to CBDC.It also involved working with the Financial Stability Board on digital assets, AML with FATF, and OECD work on crypto tax, amongst others.
Stablecoins in, banks out?
Apart from excluding banking regulators from the working group which covers stablecoin payments,it remains to be seen how wide the CBDC ban is.
On the stablecoin regulation front, the previous administration pushed for the Federal Reserve to be given a central role in approving stablecoins under draft regulations.Excluding the Fed from the working group is a big step in the opposite direction.
Sidestepping banking regulators is likely a backlash.They are viewed as obstructing the crypto sector through de-banking and there was pushback about the shutting down of Signature Bank by the FDIC.Digital asset bank Custodia has been repeatedly refused membership of the Federal Reserve System. That said, the FDIC now has a Republican Acting Chair.
Banks have also been slowed from engaging with blockchain and DLT. For example, the USDF Consortium for interbank DLT payments has not yet launched,even though it moved from a permissionless to a private blockchain.That’s apart from the many banks that were blocked from offering crypto to clients.
No wholesale CBDC?
Regarding CBDC, the ban does not distinguish between retail and wholesale CBDC. Unlike a retail CBDC where there are valid privacy concerns (even with the best of intentions), a wholesale CBDC is designed for interbank settlement only. The Federal Reserve already explored differences between a wholesale CBDC versus tokenizing existing central bank reserves.Either of these would support banks engaging with blockchain, particularly for tokenized deposits, securities settlement and cross border payments.The lack of wholesale CBDCs has slowed bank adoption of DLT around the world.
Recently the European Central Bank ran DLT trials for wholesale settlement using central bank money, which encouraged numerous (real) digital bond issuances. Sixty-four institutions took part in more than 40 trials and experiments.
The New York Innovation Center (NYIC)at the Federal Reserve Bank of New York has been involved (purely for research) in Project Agorá, which aims to make cross border payments via correspondent banking faster and cheaper.
Agorá uses tokenization and is led by the Bank for International Settlements (BIS). Seven central banks and more than 40 private sector firms are involved, with most of the central banks providing a trial wholesale CBDC for interbank settlement. Without the dollar, that would leave a large gap for an international payments network.
The purpose of using central bank money for institutional settlement is to reduce payment risks. As a fallback, a private institution could tokenize the reserves held by multiple banks in an omnibus account at the central bank.
From a risk perspective it’s not quite as optimal because there is always the risk of failure of the company, even if it is designed to be bankrupt remote. In the UK, Fnality has taken this approach. If the Fed itself is blocked from tokenizing reserves, Fnality’s U.S. expansion plans could be looking rosier.
@ Newshounds News™
Sources:Ledger Insights,WhiteHousegov
~~~~~~~~~
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Clare: Raed Fahmy: Iraq is exposed to increasing economic pressures under the Trump administration
1/24/2025 Baghdad -
Iraq is facing increasing economic pressures under the administration of US President Donald Trump, Secretary of the Iraqi Communist Party, Raed Fahmi, said on Friday, calling on the government to reveal its plans to confront these risks. LINK
KTFA
Clare: Raed Fahmy: Iraq is exposed to increasing economic pressures under the Trump administration
1/24/2025 Baghdad -
Iraq is facing increasing economic pressures under the administration of US President Donald Trump, Secretary of the Iraqi Communist Party, Raed Fahmi, said on Friday, calling on the government to reveal its plans to confront these risks. LINK
Clare: Parliamentarian: The House of Representatives will pass a set of laws after approving the controversial ones
1/24/2025
A member of the House of Representatives expects a number of laws to be passed during the upcoming sessions after the approval of the controversial laws.
Khaled Hamad Allawi told Al Furat News Agency: "New laws will be passed in the coming period because all the remaining laws are considered simple compared to the previous laws passed."
He explained that "the general amnesty, personal status and property return laws are considered among the laws that were obstructing the work of the House of Representatives and were passed."
Raghad LINK
************
Clare: Parliamentary Energy Reveals US Pressure to Pass Budget Amendment Law...and This is the Reason
1/23/2025Baghdad
The Parliamentary Energy Committee revealed, on Thursday, American pressure to pass the amendment to the budget law.
The Deputy Chairman of the Energy and Natural Resources Committee in the House of Representatives, Adnan Al-Jaberi, said in an interview with the “Al-Mudawala” program, which is broadcast on “Al-Ahd” channel, that “most of the companies operating in the Kurdistan Region are American,” stressing that “the American administration is pressing to expedite the amendment of the budget law.”
He added, "The amendment of the budget aims to address the oil dispute between Baghdad and Erbil," indicating that "the amendment of Article 14 of the budget will lead to the appointment of about 12,000 employees on a contract basis."
He added, "The vote on amending the budget will lead to Baghdad's recognition of the oil contracts concluded by the region," explaining that "we proposed to the region to establish a national oil company affiliated with the federal Ministry of Oil."
He added, "We are seeking to amend Article 12 of the budget in a strict manner to prevent the region and the center from evading implementation." LINK
************
Clare: Hanan Al-Fatlawi calls on Parliament to pass the budget amendment as quickly as the three laws were approved
1/24/2025 Baghdad
Head of the Irada bloc, MP Hanan Al-Fatlawi, called on the House of Representatives today, Friday, to pass the amendment to the three-year budget law with the same speed with which it passed the three laws.
Al-Fatlawi said in a tweet followed by "Mawazine News": "I call on the House of Representatives to pass the budget amendment with the same speed with which it passed the three laws within seconds."
She added, "Keeping the budget unamended means that the government will continue to pay one trillion dinars per month in salaries to the region, while companies in the region continue to produce 320,000 barrels per day (870 billion dinars per month) that are smuggled outside Iraq and sold at low prices, much lower than SOMO prices, in addition to Turkey demanding a fine of $24 million per month for not exporting oil through the Iraqi pipeline extending to Ceyhan." LINK
Clare: Al-Alaq: Baghdad Dialogue is a meeting point for visions and ideas that support security and development
1/24/2025 Baghdad
The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Friday, that the Baghdad Dialogue is a meeting point for visions and ideas that support security and development.
Al-Alaq said in a statement received by "Al-Eqtisad News", "The Baghdad Dialogue, which is organized annually by the Iraqi Institute for Dialogue (IID), is a platform that brings together visions to enhance Iraq's regional and international role, and highlight its ability to host major events, to become a meeting point for visions and ideas that support security and development in Iraq, the region and the world."
It is noteworthy that the activities of the seventh Baghdad International Dialogue will be launched with the participation of an elite group of political, economic and academic figures from inside and outside Iraq on February 22, 2025. LINK
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Delinquencies on Debt Surging: ‘ Huge Humanitarian Crisis Already Happening’ | Lynette Zang
Kitco News: 1-23-2025
Lynette Zang, CEO of Zang Enterprises, discusses the precarious state of the U.S. and global economies, emphasizing unsustainable debt levels and the potential for hyperinflationary depression.
Zang speaks with Kitco News on the sidelines of the Vancouver Resource Investment Conference (VRIC).
Key points: -The current system is nearing collapse due to excessive debt and the manipulation of financial markets
-Zang advocates for the acquisition of physical gold and silver as a hedge against economic instability, warns against reliance on fiat currencies
Delinquencies on Debt Surging: ‘ Huge Humanitarian Crisis Already Happening’ | Lynette Zang
Kitco News: 1-23-2025
Lynette Zang, CEO of Zang Enterprises, discusses the precarious state of the U.S. and global economies, emphasizing unsustainable debt levels and the potential for hyperinflationary depression.
Zang speaks with Kitco News on the sidelines of the Vancouver Resource Investment Conference (VRIC).
Key points: -The current system is nearing collapse due to excessive debt and the manipulation of financial markets
-Zang advocates for the acquisition of physical gold and silver as a hedge against economic instability, warns against reliance on fiat currencies
-Coming crisis will exceed that of 2008 Zang also stresses the importance of community and self-sufficiency in navigating future economic hardship, while expressing concern over the looming implementation of Central Bank Digital Currencies (CBDCs).
00:00 Introduction and Welcome
00:59 Credit Card Crisis and Economic Health
02:00 Life Cycles of Currencies and Debt
04:09 Banking System and Systemic Issues
07:10 Hyperinflation and Economic Predictions
20:35 Strategies for Inflation and Wealth Preservation
27:12 Conclusion and Final Thoughts
LIVE! The Dollar IS DEAD AND WE NAILED IT! TRUMP DEMANDS FED LOWER RATES! Its Over...
Greg Mannarino: 1-24-2025
How the Fed Flipped the Yield Curve (and the consequences)
Heresy Financial: 1-24-2025
TIMECODES
00:00 The Inverted Yield Curve Disappears
00:18 Long-Term Rates Rise Despite Fed Cuts
01:25 How Lower Short-Term Rates Stimulate Lending
02:17 Government Debt, T-Bills & Short-Term Borrowing
03:32 M2 Money Supply Growth & Bank Lending
05:38 Debt Repayment & Shrinking the Money Supply
06:43 Inflation Concerns Drive Long-Term Interest Rates
07:38 Bear Steepening: Why Bond Prices Are Falling
09:02 TLT’s Collapse & the Dangers of Holding Long Bonds
10:27 High Debt-to-GDP & Why Treasuries Underperform
11:36 Final Thoughts: Modern Portfolios & Future Rate Outlook
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TRUMP CANCELS CBDC, FAVORS STABLECOIN IN U.S. FINANCIAL STRATEGY ▪️Donald Trump cancels CBDC, favoring USD-backed stablecoins to safeguard privacy and enhance financial inclusion globally. ▪️A new task force will recommend clear crypto regulations to foster innovation while opposing invasive financial oversight.
President Donald Trump has taken a strategic move by issuing an executive order to boost the United States position in digital finance technology.One of the most notable orders is the country’s cancelation of central bank digital currency (CBDC).
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TRUMP CANCELS CBDC, FAVORS STABLECOIN IN U.S. FINANCIAL STRATEGY ▪️Donald Trump cancels CBDC, favoring USD-backed stablecoins to safeguard privacy and enhance financial inclusion globally. ▪️A new task force will recommend clear crypto regulations to foster innovation while opposing invasive financial oversight.
President Donald Trump has taken a strategic move by issuing an executive order to boost the United States position in digital finance technology.One of the most notable orders is the country’s cancelation of central bank digital currency (CBDC).
This order attests to the United States’ preference for stablecoins backed by US dollars over CBDC development, as opposed to that of other nations.
This action is considered a reaction to worries that CBDC might be utilized as too intrusive monitoring instruments violating people’s privacy.
Stablecoins, according to Trump, provide a better alternative for advancing global financial inclusion and preserving the US dollar’s status as the most often used currency worldwide. The US wants to increase its impact in the global digital financial space by helping dollar-backed stablecoins.
Trump: Emphasize Stablecoins and Financial Independence
Strong legal protections for players in the blockchain and digital asset sectors are given by this executive order. Individuals and organizations today have legally acknowledged rights to access, grow, and apply public blockchain technology free from onerous legal restrictions.
Furthermore, underlined by this sequence is the need for self-custody services, which let consumers freely manage their digital resources.A fundamental issue in the use of CBDC is the stability of value, which stablecoins are said to be able to provide while preserving user anonymity. The US government thus aims to build a digital financial environment that is creative, competitive, and still upholds personal financial freedom.
Of course, this is not the case with CBDC, which is regarded to be able to provide complete control to the government; dollar-based stablecoins provide people chances to still have control over their assets.
Working Group and Regulatory Suggestion Notes
Trump established the “President’s Working Group on Digital Asset Markets” per this order. David Sacks will be in charge of this team and assigned to create a legislative framework that advances the growth of the crypto market. This panel is anticipated to offer suggestions within 180 days that will help to establish legal certainty and draw greater industry innovation. It also eliminates earlier rules pertaining to crypto deemed to stifle creativity. Proposed legislative clarity should enable players in the crypto space to create innovative technologies free from governmental ambiguity.
Notably, underlined by the restriction on CBDC is the government’s concentration on safeguarding personal privacy from possible too-extensive monitoring. Advocates of this approach think that stablecoin innovation will help the US dollar’s position on the world market to be strengthened without compromising citizens’ financial freedom. It also implies that the US will not adopt the worldwide trend in central bank digital currencies. Meanwhile, as we previously reported, Donald Trump is under investigation for ethics after his public involvement in the TRUMP token generated national security and conflict of interest concerns. The TRUMP meme coin was mentioned in a letter addressed to the House Oversight and Government Reform Committee as having the ability to grant inappropriate access to foreign entities.
@ Newshounds News™
Source:Crypto News Flash
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BRICS: CHINA BREAKS SILENCE ON US TENSIONS, TRUMP TARIFF THREAT
With all eyes fixed on the growing geopolitical turmoil, China, a key member of the BRICS alliance, has officially broken its silence on the growing US tensions amid US President Donald Trump’s impending tariff threat. Indeed, the country has been among the few to speak out regarding the West’s warnings.
After being inaugurated Monday, Trump wasted no time in targeting the BRCIS group. Specifically, he reassured previous threats that he would impose a 100% tariff on the economic alliance. The action was meant as retaliation for the bloc’s ongoing de-dollarization efforts.
Trump Tariff and US Tensions Get Response From China as West & BRICS Faceoff Continues
For the last two years, the BRICS economic alliance has committed to lessening international reliance on the US dollar. Specifically, the bloc has sought out ways to avoid sanctions on various members. That process has seen the group promote the use of local currencies.
Although the previous Biden administration was okay with allowing the practices to go on with little retaliation, Donald Trump is not. Therefore, he has responded in rather concerning ways for those in favor of geopolitical peace. Now, key BRICS member China has broken its silence on emerging tensions and the 100% tariff threat issued by US President Trump.
In a recent report, the Chinese Ministry of Foreign Affairs (MoFA) released a statement Thursday.“As an important platform for cooperation among emerging markets and developing countries, BRICS advocates openness, inclusiveness, and win-win cooperation, not bloc confrontation, and does not target any third party,”they said. “The aim is to realize common development and prosperity,” they added.
The statement reaffirms its commitment to the bloc. Moreover, it signals the country’s willingness to continue on the path it has charted. Additionally, the answer comes weeks after India responded to the ongoing threat. Specifically, External Affairs Minister S Jaishankar said the country has “no interest” in weakening the US dollar. “The US is our largest trade partner,” the official said.We have no interest in weakening the dollar at all,”they added. The development is ongoing and could be vital to global economics in the early months of Trump’s return to the Oval Office.
@ Newshounds News™ Source:
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