News, Rumors and Opinions Tuesday PM 4-15-2025
KTFA:
Clare: Al-Sudani's advisor: Annual returns from investing reserves are no less than $2 billion.
4/15/2025- Baghdad
The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Tuesday that the "annual returns" from investing foreign reserves are no less than $2 billion, according to his estimates.
Saleh said, "These investments are often short-term and directed toward US, European, or British treasury bonds, with the goal of achieving appropriate returns."
He added, "These investments are characterized by low risk and generate appropriate returns, and the invested assets can be quickly converted into cash without incurring losses."
Saleh pointed out that "profits generated from reserves are divided into two types: the first is realized, represented by direct interest, and the second is unrealized, resulting from diversifying the investment portfolio, in addition to realizing potential profits from exchange rate differences between currencies and gold."
The Central Bank of Iraq previously revealed a decline in foreign reserves for 2024, reaching 130.81 trillion dinars, a 10.18% decrease compared to the same period in 2023, when these reserves reached 145.64 trillion dinars. LINK
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Clare: Parliament expresses surprise at the government's delay in submitting the 2025 budget schedules.
4/15/2025
The Finance Committee of the Iraqi Parliament expressed surprise on Tuesday at the government's delay in submitting the 2025 budget schedules to the parliament, despite previous promises.
Committee member Saad al-Nubi told Shafaq News Agency, "The Parliamentary Finance Committee recently hosted both Minister of Planning Mohammed Tamim and Minister of Finance Taif Sami to discuss the 2025 general budget law schedules. The two ministers informed the committee that the schedules would be sent to the Council of Ministers."
He added, "However, we still note the government's delay in sending the budget tables to Parliament for discussion and voting," considering that "there is a clear challenge on the part of the government in not sending the tables to Parliament without knowing the reasons."
Al-Nubi continued, "The budget was supposed to reach parliament before the end of last month, but we don't know the reasons for this delay." He noted that "the committee pressured the Minister of Planning and the Minister of Finance, asking them to explain the reason for the delay in submission, but has not received a response yet."
It is noteworthy that the Iraqi Parliament voted in June 2023 on the draft general budget law for the fiscal years (2023, 2024, 2025). LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article Quote: "Adjusting the value of the Iraqi dinar relative to the US dollar remains a plausible option. We are unlikely to see the reserves touched..." This article has four times that they talk about Iraqi dinar going up in value.
Clare Article: “Plunging Oil Prices Jeopardize Iraq’s Budget: Will the Government Resort to Dollar Revaluation?" Quote: "Iraq is bracing for renewed economic turbulence as oil prices fall below the critical $65 per barrel mark—five dollars short of the benchmark adopted in the country’s federal budget. The slide in global crude markets threatens to erode the very foundation of Iraq’s oil-dependent economy, prompting speculation over potential fiscal and monetary policy shifts..." "...The central bank’s hard currency reserves, considered a last line of defense, are unlikely to be tapped under current circumstances. Still, one policy instrument remains within reach—and contentious: the exchange rate. Economic expert Ahmed al-Ansari noted that while Iraq’s reserve fund is generally safeguarded for emergencies, adjusting the value of the Iraqi dinar relative to the U.S. dollar remains a plausible option. “We’re unlikely to see the reserves touched, but a revaluation of the dinar, coupled with domestic borrowing, could help bridge a potential deficit,” al-Ansari explained."
Gold Soars, Risk Assets Collapse – Is This the Biggest Macro Unwind Since 1929? | Mike McGlone
Kitco News: 4-15-2025
Gold is holding near record highs above $3,200 an ounce, while U.S. equities, copper, and crude oil tumble. Treasury yields are rising even as the dollar weakens, and volatility is spiking.
According to Bloomberg Intelligence’s Mike McGlone, this signals a profound macro shift — one where risk assets are cracking, precious metals are taking the lead, and traditional flight-to-safety assets are failing.
In this interview, McGlone joins Kitco News Anchor Jeremy Szafron to explain why the stock market’s valuation peak may have already passed, how gold could rally toward $4,000, and why Bitcoin and U.S. equities remain highly vulnerable.
He also warns of a deflationary reset, deepening global recession risks, and a reversal of decades of monetary excess.
Key Topics: – Why McGlone sees a “profound reversion cycle” underway – Gold vs. Bitcoin: why gold is outperforming risk assets – How ETF flows are signaling the smart money shift – Copper and crude oil breakdowns as global demand fades – Why U.S. Treasuries may still be the ultimate safe haven – How tariffs, austerity, and inflation are colliding – The risk of a 1929- or 1989-style market unwind – What to expect if the S&P 500 breaks down further – Why gold miners may finally rerate if $3,500 breaks
00:00 Introduction
01:03 Market Breakdown
03:01 Bitcoin vs. Gold: A Deep Dive
07:58 Flight to Safety: Treasuries, Dollar, and Equities
10:28 Inflation Expectations and Fed's Response
12:44 Global Economic Implications and Tariffs
18:44 Gold Miners and Market Predictions
22:59 Conclusion
