Alan Greenspan, Longtime Chairman of the Federal Reserve, Dies at 100

Alan Greenspan, Longtime Chairman of the Federal Reserve, Dies at 100

PATRICIO CHILE Mon, June 22, 2026 at 7:15 AM EDT

Alan Greenspan, the longtime chairman of the Federal Reserve, has died, his wife confirmed. He was 100 years old.

"Alan passed away at our home this morning at the age of 100 from complications of Parkinson's Disease," Andrea Mitchell, his wife and a chief correspondent at NBC News, said in a statement published by the network on Monday.

The economist is remembered for leading the American central bank amid periods of historic U.S. economic expansion, while critics have also said his policies contributed to and exacerbated the mortgage crisis and financial crash of 2008.

Greenspan, a libertarian Republican, became the 13th chairman of the Board of Governors of the Federal Reserve System two months before the stock market crash on Oct. 19,1987, known as Black Monday. He was credited with moving quickly to alleviate investors' fears after the crash and was instrumental in ensuring the Federal Reserve made plenty of money available to alleviate the impact on financial markets. Stocks quickly rebounded.

He was appointed Fed chair by four different presidents during his career, first by Ronald Reagan in 1987. Greenspan continued to serve as Fed chairman under presidents George H. W. Bush, Bill Clinton and George W. Bush. He steered the U.S. economy through the economic boom in the 1990s, the dotcom bubble, and the Sept. 11, 2001, terrorist attacks. His final term as chair ended on Jan. 31, 2006.

Under his leadership, the Fed fostered a distaste for regulation and promoted very low interest rates in the early 2000s -- two phenomena critics say encouraged a bubble in housing prices that eventually burst with disastrous effects on the global economy.

During his tenure, and before the financial crisis began, the nation experienced one of the longest periods of economic growth in its history.

A decorated economist, first inspired by music

Greenspan was born on March 6, 1926, in New York City, the only child of Herbert Greenspan, a stockbroker, and Rose Goldsmith Greenspan, a retail worker. His parents divorced when he was 4 years old, and he was raised mainly by his mother and his grandparents.

An aspiring musician, Greenspan attended Juilliard for a year and played saxophone and clarinet before dropping out and enrolling at New York University. He went on to gain his bachelor's, master's and doctoral degrees in economics from New York University. He also engaged in some advanced graduate work at Columbia University in New York, where he studied under the influential economist Arthur Burns.

Though short-lived, his music career was an influential portion of Greenspan's life, and he considered the move into economics a logical progression. He saw the organization of economic data into sound fiscal modeling as analogous to the organization of musical notes into tunes, according to Greenspan biographer Justin Martin in his book, "Greenspan: The Man Behind Money."

"I get the same kind of joy from solving a hard mathematical problem as I do from hearing a Haydn quartet," Greenspan once told The New York Times Magazine.

Greenspan taught economics at NYU between 1953 and 1955 and then founded the economic consulting firm Townsend & Greenspan, where he served as chairman and president from 1954 to 1974. He returned to the firm in 1977 and stayed until 1987.

President Richard Nixon nominated Greenspan to chair the President's Council of Economic Advisers in 1974, the first of many government economic positions he would hold. Nixon resigned as president hours after Greenspan was nominated, but he continued to serve under President Gerald Ford. Greenspan also served as a member of President Ronald Reagan's Economic Policy Advisory Board and was a consultant to the Congressional Budget Office.

In the private sector, Greenspan served as corporate director for many companies, including Alcoa, General Foods and J.P. Morgan & Co. He also served as a member of Time magazine's Board of Economists and a senior adviser to the Brookings Panel on Economic Activity.

In 2002, Greenspan received an honorary knighthood from Queen Elizabeth II in recognition of his contribution to global economic stability. In 2005, President George W. Bush presented Greenspan with the Presidential Medal of Freedom.

He held the position of Fed chairman from the time Reagan appointed him in 1987 until 2006, serving an unprecedented five terms under four presidents before being succeeded by Ben Bernanke.

Greenspan is credited by many with facilitating the longest economic expansion in U.S. history. One day after the Black Monday stock crash, Greenspan affirmed the Fed's "readiness to serve as a source of liquidity to support the economic and financial system" and the central bank moved to encourage banks to lend on their normal terms. Unlike prior financial crises, the events of Black Monday notably were not followed by an economic recession or a banking crisis and less than two years later, the U.S. stock market surpassed its pre-crash highs.

During his tenure, Greenspan developed a reputation for being a consensus-builder and for his strong anti-inflation stance, focusing more on controlling prices than on promoting full employment. He led the Federal Reserve through several events with major economic consequences, including two U.S. recessions, the 1997 Asian financial crisis and the Sept. 11, 2001, terrorist attacks.

'How could we have possibly got it so wrong?'

Starting in June 2003, the Federal Reserve set the federal funds rate, the rate at which banks typically borrow from each other, to one percent for a year. Though its intention was to lower the cost of borrowing and stimulate the economy, critics said the rate was too low and encouraged investments in risky subprime mortgage-backed securities, which they say contributed to the financial crisis in 2008.

The National Bureau of Economic Research, a research organization seen as an authority on measuring economic performance, later said that the recession officially began in December 2007.

In September 2007, Greenspan published a book that was both a memoir and economic commentary, "The Age of Turbulence: Adventures in a New World," in which he criticized the George W. Bush administration for overspending and admitted that he supported the administration's tax cuts without stressing the need for spending cuts.

In an interview with Bloomberg Businessweek in August 2012, Greenspan said, "one day before Lehman Brothers crashes, conventional wisdom was not even certain that we would fall into a recession."

"In fact, we learned many months later that the downward trend had actually started," Greenspan said. "How could we have possibly got it so wrong? I mean, I actually was saying, 'Yes, recession is coming, not that we're here yet.' We didn't know that it had already hit."

In October 2008, Greenspan acknowledged to a congressional committee discussing financial regulation that, "I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms."

To Continue Reading     LINK

Iraq Economic News and Points To Ponder Monday Afternoon 6-22-26

Judge Zeidan Discusses Strengthening Financial Stability With Central Bank Governor Nizar Nasser

Money and Business   Economy News — Baghdad   The head of the Supreme Judicial Council, Judge Faiq Zaidan, discussed on Monday with the new governor of the Central Bank, Nizar Nasser, ways to enhance financial stability and support legal procedures.

A statement from the Supreme Judicial Council, received by "Al-Eqtisad News," stated that "the President of the Supreme Judicial Council received the new Governor of the Central Bank, Nizar Nasser, and congratulated him on assuming his position, wishing him success in his duties."

The statement indicated that "Judge Zeidan discussed with the Governor of the Central Bank a number of files of common interest related to strengthening financial stability and supporting the legal procedures of the Central Bank."

https://www.economy-news.net/content.php?id=70544 

Gold Rises After Progress In Talks Between Washington And Tehran

Money and Business    Economy News — Follow-up   Gold prices rose on Monday from their lowest level in more than a week, reached in the previous session, as oil prices fell after Iran indicated progress in peace talks with the United States, although expectations of an interest rate hike following hawkish signals from the US Federal Reserve weighed on the precious metal's performance outlook.

Gold rose 0.9% in spot trading to $4,197.41 per ounce by 02:38 GMT, after falling on Friday to its lowest level since June 11. U.S. gold futures for August delivery fell 0.7% to $4,215.90.

The first round of talks between senior US and Iranian officials in Switzerland ended on Monday, and Iran's Press TV quoted the Iranian Foreign Ministry spokesman as saying that good progress had been made.

A joint statement issued by the two mediating countries, Qatar and Pakistan, said that the United States and Iran had agreed on a roadmap to reach a final agreement within 60 days.

Edward Meir, an analyst at Marex, said, "The current situation in Switzerland is very different from what it was a few hours ago when the two sides were fighting, but now it seems that they are making some progress."

He added, "We will continue to trade in line with geopolitical trends for a little longer, but the situation is fluid, so it is probably best to observe developments from the sidelines for the time being."

Meanwhile, Federal Reserve Chairman Kevin Warsh's focus on inflation at last week's press conference, without any more nuanced comments about what might open the door to an interest rate hike, led investors to conclude that a rate increase was imminent.

According to the CME Group's Fidwatch tool, traders see an 89% chance of an interest rate hike in December, compared with 61% before the US Federal Reserve meeting.

As for other precious metals, silver rose 1.8% in spot trading to $66.10 an ounce, platinum gained 0.2% to $1,667.97 and palladium climbed 1% to $1,270.41. https://www.economy-news.net/content.php?id=70543

Iran Cuts Oil Prices To Attract Buyers After Resuming Exports Through The Strait Of Hormuz

Energy    Iran has significantly reduced the prices of its crude oil offered for sale to China, in an attempt to accelerate the disposal of supplies after resuming oil exports through the Strait of Hormuz following the interim agreement with the United States.

According to Bloomberg data, July delivery shipments of Iranian light crude are being offered at discounts of between $2.50 and $5 per barrel compared to the price of Brent crude, compared to discounts that were around $1 before the agreement.

Shipping data shows that 11 oil tankers left Iran’s Chabahar port in recent days, carrying about 20 million barrels.

China accounts for about 90% of Iranian oil exports, often through indirect trade channels or under alternative shipping names.

Meanwhile, estimates indicate that there are approximately 121 million barrels of Iranian oil stored on tankers in the Gulf and other areas, a 5% increase from the week prior to the agreement. https://www.economy-news.net/content.php?id=70590

Iraq, Jordan And Egypt Affirm Their Commitment To Implementing The Outcomes Of The "Tripartite Cooperation"

Localities   Iraq, Jordan, and Egypt affirmed on Monday their commitment to implementing the outcomes of the tripartite cooperation mechanism and strengthening economic integration.

The Iraqi Ministry of Foreign Affairs stated in a press release, "Foreign Minister Fuad Hussein held extensive talks today, Monday, with Jordanian Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi and Egyptian Minister of Foreign Affairs, Immigration, and Egyptian Expatriates Badr Abdel-Aty, on the sidelines of the Arab Consultative Meeting and the resumed 165th regular session of the Council of the League of Arab States at the ministerial level, held in the Jordanian capital, Amman."

According to the statement, the talks included "reviewing the paths of joint cooperation among the three countries within the framework of the tripartite cooperation mechanism, and discussing ways to enhance the strategic partnership and expand areas of economic, trade, and investment cooperation, in a manner that contributes to achieving the common interests of the peoples of the three countries."

The ministers emphasized "the importance of continuing coordination and consultation among Iraq, Jordan, and Egypt, activating the outcomes of previous tripartite meetings, and accelerating the implementation of joint projects, in order to strengthen economic integration and support sustainable development efforts in the region."

The ministers exchanged views on the most prominent regional and international developments, stressing the importance of strengthening joint Arab action, supporting efforts aimed at consolidating security and stability, and addressing the challenges facing the region through dialogue, cooperation and continuous coordination.

https://www.economy-news.net/content.php?id=70589

Seeds of Wisdom RV and Economics Updates Monday Afternoon 6-22-26

Good Afternoon Dinar Recaps,

China Targets Strategic U.S. Defense and Technology Sectors as Trade Tensions Escalate

Beijing has ended its recent trade truce with Washington by imposing sweeping sanctions on dozens of U.S. defense and technology companies, intensifying competition over rare earth minerals, advanced manufacturing, and global supply chains.

 Overview

• China has officially ended its trade truce with the United States, imposing new sanctions on American defense, aerospace, robotics, and rare earth companies.

• The measures include export restrictions on critical dual-use technologies and procurement bans affecting dozens of U.S. firms.

• The escalation highlights growing geopolitical competition over strategic resources that support artificial intelligence, semiconductors, defense systems, and advanced manufacturing.

Key Developments

1. China Restricts Critical Exports to U.S. Companies

Beijing announced that ten American companies involved in defense, robotics, and rare earth development will no longer receive exports of Chinese dual-use products—materials and technologies that have both civilian and military applications.

Among those reportedly affected are USA Rare Earth, Red Cat, and AVEOX, companies involved in domestic rare earth processing, tactical drone development, and advanced electromechanical systems.

China also ordered that all existing export activities to these entities cease immediately, signaling a more aggressive use of supply chains as a geopolitical tool.

2. Procurement Ban Expands Economic Pressure

In addition to export restrictions, China's Ministry of Finance issued new directives prohibiting government agencies and public institutions from purchasing products from 46 American companies operating in aerospace, defense, and advanced technologies.

The reported list includes divisions or subsidiaries associated with Lockheed Martin, RTX (formerly Raytheon Technologies), Boeing Defense, General Dynamics, and Sierra Nevada Corporation.

The action significantly broadens China's response beyond trade by targeting future commercial opportunities within China's public sector.

3. Rare Earths Become a Strategic Battleground

The latest measures follow U.S. actions earlier this month that expanded restrictions on several Chinese technology firms.

China currently accounts for approximately 60% of global rare earth production and nearly 90% of global refining capacity, giving Beijing considerable leverage over industries dependent on these materials.

Rare earth elements are essential for manufacturing:

• Semiconductors

• Artificial intelligence hardware

• Electric vehicles

• Defense systems

• Advanced electronics

• Renewable energy technologies

The dispute underscores how control of critical minerals has become an increasingly important element of national security and industrial policy.

Why It Matters

The conflict extends far beyond tariffs. It reflects an intensifying competition over technological leadership, manufacturing independence, and strategic resource control.

As governments increasingly treat supply chains as national security assets, businesses and investors face growing uncertainty surrounding access to essential materials, production costs, and long-term investment planning.

Why It Matters to Foreign Currency Holders

For those following potential global monetary restructuring, the dispute highlights the continued fragmentation of international trade and finance.

As nations pursue greater resource security, industrial independence, and alternative supply networks, these developments reinforce broader trends toward regional economic blocs, strategic reserve accumulation, and diversification away from highly concentrated global supply chains.

Implications for the Global Reset

• Pillar 1 – Trade

The sanctions demonstrate how trade is increasingly being shaped by geopolitical strategy rather than traditional market economics, accelerating the restructuring of global supply chains.

• Pillar 2 – Assets

Control of critical minerals and advanced manufacturing capabilities is becoming a strategic national asset, reinforcing the importance of commodities, industrial infrastructure, and resource security in the evolving global financial system.

Closing Thoughts

China's latest sanctions mark another significant escalation in the ongoing strategic competition between the world's two largest economies.

While the immediate effects will likely be felt across defense and technology industries, the longer-term consequences could reshape global manufacturing, investment flows, and access to critical raw materials for years to come.

This is not just about trade—it reflects the accelerating race for control of the technologies, resources, and industrial capacity that will shape the next era of global economic power.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• CoinTribune – China Targets Strategic U.S. Defense and Technology Sectors

• Reuters – Coverage of U.S.-China trade tensions, export controls, and rare earth supply chain developments.

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Monday Iraq News posted by Tishwash at TNT 6-22-2026

TNT:

Tishwash:  The Central Bank Governor assumes his duties and reviews the bank's operations.

The newly appointed Governor of the Central Bank of Iraq, Mr. Nizar Nasser, officially assumed his duties, accompanied by his predecessor, Mr. Ali Mohsen Al-Alaq.

They conducted a field visit to various offices and departments within the Central Bank to observe operations and understand the nature of the tasks and responsibilities carried out by the different divisions and directorates.

During his tour, Mr. Nasser emphasized the importance of continuing institutional work and enhancing performance efficiency to achieve the Central Bank of Iraq's objectives and consolidate financial and monetary stability.

He also commended the efforts made during the previous term under the leadership of his predecessor, Mr. Ali Mohsen Al-Alaq, and the achievements that contributed to developing the banking sector and strengthening the national economy.

Baghdad - Media Office, 
Central Bank of Iraq, 
June 22, 2026  link

Tishwash:  Al-Zaydi intends to complete the formation of the Iraqi government before visiting Washington.

 from Kurdish news

Federal Prime Minister Ali al-Zaidi intends to complete the formation of the government in the first half of July before his anticipated visit to Washington to meet with US President Donald Trump, an official spokesman announced on Sunday, June 21, 2026.

The full cabinet was expected to include 23 ministers, but in mid-May, al-Zaydi presented a list of 14 names, which won parliamentary approval and began its work. Since then, negotiations have been ongoing, hampered by political disagreements over the remaining portfolios, most notably the Interior and Defense ministries.

Government spokesman Haider al-Aboudi said in his weekly press conference that "the cabinet will be completed in the first half of July, before the Washington visit."

Al-Zaidi is expected to visit the White House after that period at the invitation of Trump, in his first visit abroad since taking office and pledging to restrict the weapons of armed groups, which is what Washington is pressuring Baghdad to achieve.

A security official said that al-Zaydi's government is working on "implementing a specific roadmap before the Washington visit" that includes making progress in forming the government and appointing new occupants to senior positions.

Washington had suspended, in response to attacks by Iraqi armed groups on American interests during the Middle East war, cash payments of Iraqi oil revenues that it receives under an agreement concluded after the American invasion, in addition to security assistance.

A US official said last month that Washington was looking for "concrete steps" from al-Zaydi to remove factions from state institutions before aid could be resumed.

Two weeks ago, the Asaib Ahl al-Haq and Kataib al-Imam Ali factions announced that they had handed over the administration of their armed brigades within the Popular Mobilization Forces to the Iraqi government, while other factions, most notably Kataib Hezbollah, Kataib Sayyid al-Shuhada and Harakat al-Nujaba, are holding onto their weapons as long as the international coalition led by Washington to fight the Islamic State remains in northern Iraq until September.

The Popular Mobilization Forces (PMF) were formed in 2014 from Iraqi armed groups to fight jihadists and later became part of the military establishment. However, they also include brigades affiliated with factions allied with Tehran that operate independently and have launched attacks on American interests, prompting deadly retaliatory strikes from Washington.

Baghdad confirms that one of the most prominent issues that al-Zaidi intends to discuss in Washington is the economic file, at a time when Iraq, which is recovering from conflicts that destroyed its infrastructure, is seeking to attract huge investments, especially in the oil sector. link

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

Tishwash:  An economic expert warns via Nina against removing zeros... Iraq needs to eliminate the causes of deficit, waste, and corruption.

Former MP and economic expert Hussein al-Falluji warned against rushing the implementation of the project to remove three zeros from the Iraqi dinar and replace the currency, stressing that "this measure will not raise the real value of the dinar, increase the purchasing power of citizens, or address the deep imbalances plaguing the Iraqi economy."

In a statement to the National Iraqi News Agency , al-Falluji said , "Removing zeros is merely a nominal and accounting change to the monetary unit, whereby 1,000 dinars become one new dinar, while prices, salaries, deposits, and debts are changed proportionally, without any real increase in wealth or income." He added,

"The danger lies in presenting this measure to the public as an economic reform or a means to strengthen the dinar, while the strength of a currency is not determined by the numbers printed on it, but rather by the strength of production, the stability of public finances, the volume of exports and foreign reserves, confidence in the banking system, and the ability to control inflation and the deficit."

The economic expert pointed out that "replacing the currency under the current circumstances could lead to market instability, exploitation of the currency conversion process to artificially inflate prices, and increased speculation on the dollar and gold, in addition to the significant costs of printing the new currency, withdrawing the old, and upgrading banking and accounting systems and ATMs."

He explained that "Iraq does not suffer from a crisis regarding the form of the dinar or the number of zeros, but rather from a structural economic and financial crisis, characterized by excessive reliance on oil revenues, inflated current expenditures and the public sector wage bill, weak non-oil revenues, poor collection of taxes, fees, and services, declining domestic production, and a weak private sector and banking system." He emphasized that "removing zeros will not change this equation. If the state is spending 100 trillion dinars and collecting limited local revenues, after removing the zeros it will spend an additional 100 billion dinars, while the deficit and financial imbalance will remain the same."

Al-Falluji called on the government and the Central Bank to refrain from seeking "emotional or propagandistic" measures that give the public a temporary impression of currency strength. Instead, he urged them to focus on a serious economic reform program that begins with reforming public finances, controlling spending, developing local revenues, reforming the dinar income cycle, developing the banking sector, stimulating industry and agriculture, and reducing dependence on imports.

He added, "Removing zeros should be a result of actual economic and monetary stability, not a superficial means of creating this stability. Iraq needs to eliminate the causes of deficits, waste, corruption, and weak production before removing zeros from its currency." It is worth noting that government spokesman Haider al-Aboudi confirmed in a statement to the official newspaper that the government and the Central Bank of Iraq are adopting a flexible economic approach regarding the exchange rate policy of the US dollar against the Iraqi dinar, which currently stands at 1,557 dinars.

Al- Aboudi explained in a press statement that "this policy is based on achieving the national interest and enhancing economic stability, and can be described as an exchange rate policy consistent with the requirements of economic growth."

He pointed out that this approach seeks to achieve a carefully considered balance between the exchange rate and GDP, reflecting the true strength of the national economy and its structural characteristics, and ensuring the stability of macroeconomic indicators.

He explained that the monetary policy authorized by the Central Bank of Iraq under its law is consistent with the government's general directions, which are based on strengthening economic solutions and activating the tools for sustainable growth.   link

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

Tishwash: Economic expert: The risk of a blacklist remains if Iraq's commitments are delayed.

 Economic expert Manar Al-Obaidi confirmed on Saturday (June 20, 2026) that the risk of being blacklisted still exists if Iraq's commitments are delayed.

Al-Obaidi said in an analysis seen by “Baghdad Today” that “Iraq is on the right track in the fight against money laundering and terrorist financing, following the recent statement issued by the Financial Action Task Force (FATF), while warning at the same time of the risks of laxity in implementing the agreed obligations.”

He added that "Iraq's continued participation in the cooperative process with the Financial Action Task Force through an agreed joint action plan reflects its continued integration into the international financial system and the preservation of its banking relationships, without imposing any countermeasures against it."

He explained that "this development is a positive indicator, but it does not mean the end of the challenges," stressing that "the next stage requires serious work to implement anti-money laundering laws in all their forms in all governorates and regions without exception."

He added that "the responsibility for accomplishing this task lies with various parties, starting with the executive bodies concerned with enforcing the law and implementing procedures, passing through the legislative bodies that are responsible for completing the necessary legal frameworks, and reaching the community and the private sector through promoting awareness, commitment and reporting of violations."

Al-Obeidi warned that “failure to implement the agreed-upon procedures within the specified timeframes could expose Iraq to significant losses and increase the likelihood of its being placed on the blacklist, which would have negative repercussions on the financial sector and the national economy in general.”

He pointed out that "the opportunity is still available for Iraq to complete the requirements of financial reform, stressing that neglecting it will have a high cost to the state and citizens."

Al-Obaidi praised "the efforts of the official bodies that contributed to strengthening cooperation with international institutions, foremost among them the Anti-Money Laundering and Counter-Terrorism Financing Office and its professional staff," noting that "the role played by the office in the recent negotiations was a key factor in avoiding Iraq being included on the blacklist."  link

News, Rumors and Opinions Monday 6-22-2026

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR Update as of Mon. 22 June 2026

Compiled Mon. 22 June 2026 12:01 am EST by Judy Byington

Guru Information and Intel:
Sun. 21 June 2026 BREAKING NEWS: THE CLARITY ACT MOMENTUM IS UNSTOPPABLE! …Juan O Savin on Telegram

The Senate has officially CONFIRMED a high-stakes meeting NEXT WEEK to finalize the Digital Asset Market Clarity Act!

As digital assets continue moving into the mainstream, discussions surrounding the future of finance are accelerating at an unprecedented pace.

Many observers believe this could be another major step toward a more transparent and technology-driven financial landscape. At the same time, conversations surrounding QFS, NESARA, GESARA, and the evolution of global financial systems continue to grow across online communities worldwide.

Whether you see these developments as connected or separate, one thing is becoming clear: The future of finance is changing faster than ever before. The world is watching. The conversation is growing. Stay informed.

~~~~~~~~~~~~~~

Global Currency Reset:

Wed. 17 June 2026 MarkZ: A Bond Holder was (allegedly) receiving his money on Thurs. 18 June. Other Bond Holders were expecting to have their money this weekend. All of Tier 3 were going to (allegedly) exchange this weekend.

Thurs. 18 June 2026  Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#, 667-770-1865: Sources say Tier4b (Us, the Internet Group) could be notified for exchange appointments Mon, Tues, Wed 22, 23, 24 June and start exchanges Wed. 24 June 2026.

Sun. 21 June 2026: The Fed has scheduled an emergency announcement for Mon. 22 June 2026 at 9am EST before the New York Stock Market opens. Insiders report they intend to announce a $50 billion liquidity injection to prevent a Market crash. https://x.com/CryptoNobler/status/2068725069967188251?s=20

Read Full post here:  https://dinarchronicles.com/2026/06/22/restored-republic-via-a-gcr-update-as-of-june-22-2026/

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

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

Jeff   They can't tell you if they plan to increase [the dinar exchange rate].  They've already revealed to us the new prime minister is going to Washington with 100 businessmen to prepare for the implementation of the strategic framework agreement between Iraq and the United States.  That requires Iraq to have a tradable currency.  You don't take 100 businessmen to discuss implementing business with the United States at a currency value of 1310 under US sanctions.  You don't do that.  Iraq needs to go there with a convertible tradable currency that has real regional value to it.  

Reset Intelligence  Iraq quietly handed its central bank to the man who spent his career hunting dirty money. The anti-fraud chief now runs the vault.  You do not put a watchdog on the money supply unless you are about to count it.  For the ones in the back saying nothing is happening, there sure seems to be a lot of fraudsters being taken down. Everywhere. All. At. Once.

Frank26  The government of Iraq is being strained.  How many of you wanted Alaq to stick around?  I'm sorry, he's gone.  How many of you wanted Maliki to stick around? ..Sudani?  They're gone, gone, gone, gone...Cockroaches...we're getting rid of them left and right...Did you like the way the CBI was being run?  No, they overhauled it.  Did you like the way the 
government was being run?  No.  It's an overhaul...Every president before Trump gave money to...Iran.  Of course you're not going to have your monetary reform.  Trump is the first one that say, 'Play fair with our dollar.' ...That's why there's a major overhaul.  It's a completely different Iraq.  IMO it requires a completely different exchange rate...

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

Iraqi Dinar Update Iraq Not Trusting the Strait Iran Closing the Strait Again

Edu Matrix:  6-21-2026

Breaking News: Before it even happened, Iraq had already begun building a trade route outside the Strait of Hormuz. Iran closes the Strait, AGAIN.

Here's what Iraq is up against. Exports cut from 3.3 billion barrels to 1.3 billion barrels. Causing major economic hardship.

https://www.youtube.com/watch?v=xzN8tawqVFw

Seeds of Wisdom RV and Economics Updates Monday Morning 6-22-26

Good Morning Dinar Recaps,

Starmer Signals Exit as Burnham Emerges as Britain's Next Leadership Contender

British Prime Minister Keir Starmer is reportedly preparing to outline a timetable for his departure, potentially opening the door for Greater Manchester Mayor Andy Burnham to lead the Labour Party and become the United Kingdom's next prime minister amid growing political and economic uncertainty.

 Overview

• Prime Minister Keir Starmer is reportedly considering an orderly leadership transition following increasing political pressure and declining public support.

• Andy Burnham has emerged as the leading successor, with many Labour lawmakers viewing him as a candidate capable of reconnecting with voters.

• Financial markets are closely watching for any shift in Britain's fiscal and economic policies as leadership uncertainty grows.

Key Developments

1. Starmer Considers Leadership Transition

Following months of declining approval ratings, Keir Starmer is reportedly weighing whether to remain in office or announce a timetable for stepping aside. An orderly transition would allow the government to maintain stability while Labour selects its next leader.

2. Burnham Becomes the Leading Candidate

Andy Burnham's recent political success has strengthened his standing within the Labour Party. Supporters believe he could provide fresh leadership ahead of the next general election, although many of his positions on foreign policy, defense spending, and fiscal policy remain to be fully defined.

3. Markets Watch Britain's Economic Direction

Investors are monitoring the potential leadership change closely. Britain continues to face high government debt, elevated borrowing costs, sluggish economic growth, and increasing defense expenditures, making fiscal discipline one of the key issues any new administration will inherit.

Why It Matters

Leadership transitions in major economies often influence financial markets, investor confidence, and government policy. The United Kingdom remains one of the world's largest financial centers, meaning political developments can affect currency markets, government bond yields, and international investment flows.

Why It Matters to Foreign Currency Holders

Political stability is an important factor for global currency markets. Any significant changes in Britain's fiscal strategy, borrowing plans, or economic outlook could influence the value of the British pound while also affecting broader investor sentiment toward global reserve currencies.

Implications for the Global Reset

• Pillar 1: Debt

Britain's next government will inherit high public debt and rising borrowing costs, highlighting the growing challenge many developed economies face in maintaining fiscal sustainability.

• Pillar 2: Trade

A leadership transition may influence future UK-European Union relations, international trade negotiations, and Britain's global economic partnerships, all of which affect cross-border investment and commerce.

• Pillar 3: Financial Markets

Political uncertainty in one of the world's leading financial hubs may contribute to market volatility as investors evaluate future fiscal policies, economic reforms, and monetary expectations.

Looking Ahead

Attention now turns to whether Keir Starmer formally announces a departure timetable and how quickly the Labour Party moves toward selecting a new leader. Investors will also be watching for greater policy clarity from Andy Burnham should he officially emerge as the party's preferred successor.

This is not just about political leadership—it reflects how government transitions in major economies can influence fiscal policy, investor confidence, and the evolving global financial landscape.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters – UK's Starmer could set out exit timetable on Monday as Burnham waits in the wings

• Modern Diplomacy – Starmer Expected to Set Exit Timeline as Burnham Emerges as Successor

~~~~~~~~~~

 🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different:   • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents.    Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Late Sunday Evening 6-21-26

The Iraqi Government: There Are No Plans To Change The National Currency Or Remove Three Zeros From The Iraqi Dinar

The Iraqi government today reiterated that there are no plans to change the national currency or remove three zeros from the Iraqi dinar, while denying any intention to borrow externally to meet current economic challenges.

Government spokesman Haider al-Aboudi said in a statement that the news circulating about the imminent removal of three zeros from the Iraqi currency or the revaluation of the dinar and the adjustment of the dollar exchange rate is not based on any official decisions, stressing that the government does not have any project in this direction at the present time.

He added that the existence of quantities of printed banknotes is not related to procedures for changing the currency or modifying its value, noting that managing the money supply and determining its value are subject to the monetary policy of the central bank and the competent authorities.

Regarding the financial situation, Al-Aboudi stressed that the government does not intend to resort to internal or external borrowing to address the current pressures, explaining that what Iraq is going through falls under a temporary liquidity crisis imposed by recent regional changes, and not a structural financial crisis.

He pointed out that Iraq has significant economic potential and financial resources that enable it to overcome this stage, and that the government is continuously monitoring economic developments and taking measures to maintain financial stability and secure the state’s basic obligations.

 Added 2026/06/21 - 7:42 PM  https://www.economy-news.net/content.php?id=70536

Al-Kinani Reveals A Government Plan To Raise The Dollar Exchange Rate To 165,000 Next September.

 Baghdad Today – Baghdad   On Sunday (June 21, 2026), MP Ahmed Salim Al-Kinani, from the State of Law Coalition, revealed an anticipated government plan to raise the exchange rate of the US dollar to between 160,000 and 165,000 Iraqi dinars per 100 dollars, instead of the current rate of 132,000 dinars.

Al-Kinani said in a press statement, which was followed by “Baghdad Today”, that “this measure, which is expected to be implemented in September of this year (2026), comes as a necessary step that the government resorts to in order to secure operational expenses, foremost among which are the salaries of state employees and allocations for the social welfare network.” 

Al-Kinani warned of the "direct negative repercussions of this decision on the living conditions of citizens, especially those with limited income." 

He pointed out that "this trend will coincide with the imposition of additional customs duties of (15%) and a sales tax of (3%), which will negatively and directly affect the purchasing power of the Iraqi citizen as a result of the expected rise in prices."

Video link

https://baghdadtoday.news/301852-165.html

Iraq Rejects External Borrowing, Bets On Alternative Revenues

2026-06-21 / 05:35 Shafaq News- Baghdad    Iraq will not resort to external borrowing to address current financial challenges, government spokesperson Haider Al-Aboudi said on Sunday, stressing that the country's fiscal situation would be resolved through alternative measures.

 He told Shafaq News that the Oil Ministry is pursuing a strategy to diversify revenue sources, pointing to the launch of a new exploratory well in northern Iraq as a step toward increasing state income.

Iraq's economy depends on oil for between 90% and 95% of state revenues, making any disruption to exports a direct challenge to financing government spending, including salaries, pensions, and social welfare programs.

 Read more: Iraq's rentier economy: Risks and reforms

The recent conflict involving the United States, Israel, and Iran disrupted shipping through the Strait of Hormuz, reducing Iraqi exports to less than 800,000 barrels per day and causing estimated losses of $128 million daily, according to Eco Iraq.

Read more: Iraq’s oil bottleneck: Abundance trapped by dependency

 https://shafaq.com/en/Economy/Iraq-rejects-external-borrowing-bets-on-alternative-revenues

Dollar Gap Persists Despite Official Rate As Iraq Awaits Customs Reforms And Washington Talks

Mohammed Jangadost   Despite the Central Bank of Iraq maintaining the official exchange rate of the Iraqi dinar, a significant gap between the official and market rates of the U.S. dollar continues to raise concerns among traders, businesses, and citizens, while attention increasingly turns to the implementation of the ASYCUDA customs system and upcoming economic discussions in Washington.

Persistent Gap Between Official and Market Rates

During the first half of the year, the Iraqi dinar experienced continued volatility against the U.S. dollar, with the market exchange rate fluctuating between 150,000 and 155,000 dinars per $100. In contrast, the Central Bank of Iraq has maintained the official exchange rate at 132,000 dinars per $100.

The discrepancy of approximately 23,000 dinars between the official and parallel market rates has fueled uncertainty among importers and consumers. Market participants are closely watching whether the implementation of new customs and trade procedures will help reduce the dollar's market value below 150,000 dinars or whether continued pressures could push the exchange rate toward 160,000 dinars per $100.

Government Position and Washington Discussions

The Iraqi government has not issued any official statement regarding a possible adjustment to the dinar's exchange rate. Economic issues are expected to feature prominently during upcoming discussions in Washington, where Iraqi officials are anticipated to address financial challenges, budgetary pressures, and measures to strengthen the country's monetary stability.

Government advisers have stated that no formal discussions are currently underway regarding a devaluation of the dinar, despite previous recommendations from some international financial institutions that exchange-rate adjustments could help address fiscal imbalances.

Budget Deficit Pressures

Iraq is facing mounting fiscal pressures amid regional instability and disruptions to global energy markets. According to official estimates, the country recorded a budget shortfall exceeding 6.6 trillion dinars during the first four months of the year.

While adjusting the exchange rate is viewed by some economists as a potential means of reducing the budget deficit and securing government salary payments, such a move carries considerable risks, including higher inflation, increased consumer prices, and greater pressure on household incomes.

Inflation and Demand for Dollars

Inflationary pressures have also intensified. Iraq's annual inflation rate stood at 2.2 percent in April before rising to 4.3 percent in May, reflecting increasing costs in several sectors.

Demand for U.S. dollars remains elevated, with approximately 85 percent of market demand linked to commercial imports and trade activities. The remaining demand comes from individuals seeking dollars for personal needs, including mortgage and vehicle payments, travel expenses, and savings.

ASYCUDA System Seen as Potential Solution

Business leaders believe the implementation of the ASYCUDA customs system could help ease pressure on the foreign exchange market by facilitating access to official dollars for importers.

Aram Baban, a member of the Chamber of Commerce, said the participation of Kurdistan Region traders in the Central Bank's electronic platform remains slow, forcing many businesses to purchase dollars through the parallel market at rates reaching 155,000 dinars per $100.

Meanwhile, Nawzad Sheikh Kamil, Director General of Trade in the Kurdistan Region, said regional authorities have submitted a memorandum to Baghdad seeking the implementation of the ASYCUDA system.

Under the proposed arrangement, traders in the Kurdistan Region would no longer need to travel to Baghdad to complete currency transactions. Instead, after submitting invoices and required documentation, they would be able to obtain dollars at the official exchange rate within the region, a measure officials believe could help reduce demand in the parallel market and contribute to lowering the market price of the dollar.

Economists and market participants are now closely watching both the implementation of the new customs system and the outcome of upcoming economic discussions with U.S. officials, which could play a significant role in shaping Iraq's exchange-rate outlook in the months ahead.

 Dollar Gap Persists Despite Official Rate as Iraq Awaits Customs Reforms and Washington Talks

 https://channel8.com/english/news/60241

Unified Iraq, Kurdistan Region customs system to boost economy: Iraqi PM advisor

Jun. 20, 2026 •  "Its effects extend in the medium term to improving the business environment, enhancing investor confidence and reinforcing the principle of the unity of the Iraqi market," said Madher Mohammed Salih.

ERBIL, Kurdistan Region of Iraq - A financial advisor to Iraqi Prime Minister Ali al-Zaidi on Saturday said that unifying the customs systems between the federal government and the Kurdistan Region will strengthen Iraq's economic reform program and improve the management of non-oil revenues, coming after Baghdad and Erbil reached a technical agreement on the implementation of the ASYCUDA apparatus.

 “The importance of unifying customs systems lies in reducing cases of customs evasion resulting from differences in procedures and tariffs between border crossings,” Madher Mohammed Salih told Iraqi state media.

 The comments come days after representatives from the Kurdistan Regional Government (KRG) and the Iraqi federal government reached a technical agreement on implementing the Automated System for Customs Data (ASYCUDA) at border crossings in the Kurdistan Region.

 The two sides agreed on a draft mechanism during talks in Baghdad, though several issues remain unresolved, and the agreement still requires approval by Iraq's Ministerial Council for Economy.

 Salih added that the measure would also improve the “collection of trade data by creating unified databases for imports and exports,” providing policymakers with more accurate information and supporting more effective economic and financial policies.

 He said implementation would require “adopting unified electronic systems for customs collection and clearance” and linking border crossings to a central database capable of tracking goods in real time, alongside greater coordination between federal and regional authorities.

 The reform would help increase non-oil revenues by expanding the customs base, reducing financial leakages, and closing loopholes that have allowed inconsistencies in fees and procedures, he added.

“Its effects extend in the medium term to improving the business environment, enhancing investor confidence and reinforcing the principle of the unity of the Iraqi market,” the financial adivsor concluded.

ASYCUDA is a wholly digitalized border control system whose software was developed by the UN Conference on Trade and Development (UNCTAD).

 According to its website, the mechanism "handles manifests and customs declarations, along with accounting, transit and suspense procedures. It also generates trade data that can be used for statistical economic analysis."

The federal government have already adopted the system, with Erbil having previously requested more time before agreeing to implement it on Thursday should the technical agreement be approved.

 One of the main outstanding disputes is Baghdad's proposal that all customs revenues be transferred to the federal treasury before a portion is returned to the Kurdistan Region, a plan Erbil has yet to endorse, wishing instead that the Region will receive the full sum before depositing the adequate amount to the Iraqi exchequer.

 Iraqi Finance Minister Faleh al-Sari previously described the unification of customs systems with the Kurdistan Region as “a strategic step aimed at increasing revenues, strengthening oversight, and reducing https://thenewregion.com/posts/5678

An Economy On The Brink Of Oil Dependency: Calls To Break Free From Rentierism And Save Iraq From Market Shocks - Urgent

 Baghdad Today – Baghdad   Economic experts warn against Iraq’s continued reliance on oil as the almost sole source of funding for the public treasury, stressing that the absence of effective plans to diversify revenues has kept the country hostage to the fluctuations of energy markets and has reinforced the fragility of the rentier economy in the face of financial crises.

MP Mukhtar al-Moussawi told Baghdad Today on Sunday (June 21, 2026) that Iraq still relies on oil for nearly 90% of its treasury revenues, despite repeated warnings about the dangers of this dependence, especially with the sharp fluctuations in crude oil prices that have caused great pressure on the general budget in recent years.

Salaries Are Eating Up The Budget

Al-Moussawi explained that employee salaries account for the largest share of government spending, which increases the fragility of the financial situation and reduces the state's ability to direct funds towards development and investment projects.

He pointed out that raising the percentage of non-oil revenues to 30% of GDP has become an urgent necessity, and should reach 40% in the future to build a more balanced economy capable of facing crises, stressing that corruption and financial waste are still among the most prominent obstacles to economic reform.

Outlets, Taxes, And Wasted Resources

For his part, economist Ali Al-Masoudi confirmed on Saturday (June 20, 2026) that non-oil revenues are still below the desired level despite the measures announced by successive governments during the past years.

He added that activating electronic automation, reforming the work of border crossings, developing the tax system and addressing corruption in customs institutions could significantly increase the volume of public revenues and provide stable financial resources away from the fluctuations of oil prices.

Weak Oversight

Al-Masoudi explained in a statement to “Baghdad Today” that the absence of accurate databases and weak financial oversight lead to significant losses in public revenues, questioning the size of resources generated from border crossings, taxes, and government fees, and the extent of their actual impact on the level of services provided to citizens.

He stressed that tackling corruption and making bold decisions to manage financial resources are essential conditions for any real economic reform, warning that continued dependence on oil will keep the Iraqi economy vulnerable to financial shocks no matter how much oil revenues temporarily rise.

For decades, Iraq has relied on oil export revenues to finance the bulk of its public budgets, while the contribution of other productive sectors, such as agriculture, industry and tourism, to the gross domestic product remains limited.

With the recurring crises related to fluctuating global oil prices, calls are escalating for the adoption of comprehensive economic reforms aimed at diversifying income sources and enhancing non-oil revenues to ensure the stability of public finances and reduce dependence on a single resource. https://baghdadtoday.news/301802-.html

Seeds of Wisdom RV and Economics Updates Sunday Afternoon 6-21-26

Good Afternoon Dinar Recaps,

Japan Pension Fund Adds Cryptocurrency to Hedge Against Dollar Weakness

One of Japan's corporate pension funds is preparing to add cryptocurrency to its investment portfolio, signaling a growing institutional shift toward digital assets as a hedge against currency risk and the potential decline of the U.S. dollar's global reserve dominance.

Overview

• Japan's National Business Corporate Pension Fund plans to allocate 1% of its assets to cryptocurrency beginning in fiscal year 2026.

• The move is designed to hedge against currency depreciation, diversify reserves, and reduce dependence on the U.S. dollar.

• The decision reflects growing institutional confidence in digital assets as Japan advances its cryptocurrency regulatory framework.

Key Developments

1. Pension Fund Approves 1% Crypto Allocation

The National Business Corporate Pension Fund, which manages approximately ¥21.3 billion ($136 million) in assets, plans to invest roughly ¥213 million ($1.36 million) into cryptocurrency through diversified institutional investment funds rather than purchasing digital assets directly.

2. Currency Diversification Drives the Strategy

Fund officials emphasized that the decision is not a speculative investment, but rather a long-term strategy to reduce exposure to the Japanese yen and hedge against what they view as the gradual weakening of the U.S. dollar's reserve currency role. The fund will reduce yen holdings while increasing exposure to developed-market currencies, emerging-market currencies, gold, and digital assets.

3. Japan's Crypto Regulations Continue to Advance

The investment follows recent progress in Japan's digital asset legislation. Lawmakers have approved reforms under the Financial Instruments and Exchange Act (FIEA) that could eventually allow cryptocurrency exchange-traded funds (ETFs), while major Japanese financial institutions continue preparing new crypto investment products.

Why It Matters

Institutional adoption continues expanding beyond hedge funds and asset managers. Although this allocation is relatively small, it represents another example of traditional pension managers recognizing cryptocurrency as part of a diversified portfolio designed to manage long-term financial risk.

Why It Matters to Foreign Currency Holders

Currency diversification is becoming an increasingly important theme worldwide. As institutional investors broaden exposure beyond traditional reserve currencies into gold, digital assets, and alternative investments, many currency holders view these developments as signs of an evolving global monetary landscape.

Implications for the Global Reset

• Pillar 1: Assets

Institutional investors continue diversifying beyond traditional stocks and bonds by adding gold and digital assets as long-term portfolio hedges.

• Pillar 2: Technology

Japan's evolving regulatory framework demonstrates how governments are gradually integrating blockchain technology and digital assets into mainstream financial markets.

• Pillar 3: Financial Infrastructure

Growing pension fund participation reflects increasing confidence that digital assets may become part of future institutional investment strategies as financial systems continue modernizing.

Looking Ahead

If additional Japanese pension funds and financial institutions follow this example, institutional demand for regulated digital asset products could continue growing. Combined with Japan's evolving regulatory environment, these developments may further strengthen the country's position as one of the world's leading digital asset markets.

This is not just about one pension fund investing in cryptocurrency—it reflects the continuing evolution of global reserve diversification and the modernization of financial infrastructure in the digital age.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Bitcoin.com News – Japan's National Business Corporate Pension Fund Plans 1% Crypto Bet to Hedge Dollar Decline

• Nikkei Asia – National Business Corporate Pension Fund to Allocate Assets to Cryptocurrency

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Nobody Is Talking About The July 1st Deadline: Joel Skousen's Stark Warning

Nobody Is Talking About The July 1st Deadline: Joel Skousen's Stark Warning

Liberty and Finance:  6-20-2026

Joel Skousen warns that investors may be underestimating the long term risks of escalating global conflict, arguing that the current relief in markets could prove temporary.

He explains why he believes a wider World War III scenario, including the possibility of an EMP attack and prolonged infrastructure disruption, could trigger a historic collapse in financial markets, leaving stocks, cryptocurrencies, and even bank accounts inaccessible.

 Skousen also discusses why he believes preparedness, self sufficiency, and strategic planning are essential in a world facing growing geopolitical and economic instability.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Israeli influence on Iran war

6:00 Oil shock timeframe and shaky Iran deal

23:00 Preparedness step

https://www.youtube.com/watch?v=K4IQk3kF79k

Bond Market Implosion Is Coming

Gregory Mannarino Warns: Bond Market Implosion Is Coming

Lynette Zang:  6-20-2026

Gregory Mannarino joins Lynette Zang to discuss why he believes the bond market is the biggest threat facing the financial system today.

He explains the warning signs he sees in rising bond yields, the growing debt burden, and why he believes a future credit event could have far-reaching consequences for markets and the economy.

Chapters:

00:00 Bond Market Time Bomb & Warning Signals

05:55 Debt Implosion, Credit Freeze & the Endgame

08:24 Global Bond Yields Break Out — Why It Matters

09:26 Sound Money, Gold Standards & Fighting Fiat Currency

13:40 Wealth Transfer, Currency Devaluation & Financial Survival

16:57 JPMorgan Memo: Oil Shortages & Rationing Warnings

18:28 Fed-Treasury Debt Monetization Explained

22:36 Can Young People Lead a Financial Revolution?

24:15 Why $100,000 a Year No Longer Feels Wealthy

26:33 Inflation, Silver Dimes & Preserving Purchasing Power

28:18 Crude Oil Crisis, Supply Chains & Rising Prices

36:29 Gold, Silver, Community & Preparing for What’s Next

39:12 Stock Market Melt-Up, Fed Control & The Future of the System

https://www.youtube.com/watch?v=Wd_dm8COsTk

Iraq Economic News and Points To Ponder Sunday Morning 6-21-26

Parliamentarian: The Government May Move To Raise The Dollar Exchange Rate To 165,000 Next September

Money and Business  Economy News – Baghdad   Member of Parliament, Ahmed Salim Al-Kinani, revealed an anticipated government plan to raise the exchange rate of the US dollar to between 160,000 and 165,000 Iraqi dinars per 100 dollars, instead of the current rate of 132,000 dinars.

Al-Kanabi said that this measure, which is expected to be implemented in September of this year (2026), comes as a necessary step that the government resorts to in order to secure operational expenses, foremost among them the salaries of state employees and allocations for the social welfare network.

In contrast to this measure, which represents a solution for the operational budget, Al-Kinani warned of the direct negative repercussions of this decision on the living conditions of citizens, especially those with limited income.

The MP pointed out that this trend will coincide with an increase in the financial burden on traders through the imposition of additional customs duties of (15%), as well as a sales tax of (3%), indicating that these duties and taxes will be fully borne by imported goods and materials, which will negatively and directly affect the purchasing power of the Iraqi citizen as a result of the expected sharp rise in prices. https://www.economy-news.net/content.php?id=70507

The first round of the four-way negotiations in Switzerland has ended.

Arabic and international   Iran's Fars News Agency reported Sunday evening that the first round of quadrilateral negotiations in Switzerland had concluded.
The agency quoted a source within the Iranian negotiating team as saying, "The first round of quadrilateral negotiations has now ended."
Earlier in the day, media sources revealed details of the initial moments of the US-Iranian talks in the Swiss city of Burgenstock.

The sources stated that the Iranian delegation refused to take a joint photo with the American delegation at the beginning of the meeting.   https://www.economy-news.net/content.php?id=70524

Iraq Has Lost Nearly $38 Billion Since The Closure Of The Strait Of Hormuz.

Money and Business  Economy News – Baghdad   The Economic Affairs Observatory “Eco Iraq” announced that Iraq has lost about 350 million barrels of oil exports since the closure of the Strait of Hormuz, equivalent to about $37.7 billion, calling for accelerating the implementation of the “New Levant” project as a strategic option to secure alternative export outlets and reduce dependence on maritime outlets.

The observatory stated that prior to the closure of the Strait of Hormuz on February 28, Iraq was exporting between 103 and 107 million barrels of crude oil per month.

He explained that the closure of the strait due to the war in the region led to a decline in exports, with losses amounting to 84,395,049 barrels in March, 93,115,870 barrels in April, 92,801,000 barrels in May, while the current month of June recorded about 79,600,000 barrels.

According to "Eco Iraq", the gap in Iraqi exports during the aforementioned period is estimated at about 350 million barrels, representing lost export opportunities valued at about $37.7 billion based on average oil prices during the period.

He concluded his statement by noting that the "New Levant" project represents an urgent strategic necessity to ensure the stability of Iraqi oil exports and to secure vital alternatives away from the geopolitical risks that threaten maritime routes, especially since the Iraqi economy depends on oil revenues by nearly 90%.

https://www.economy-news.net/content.php?id=70450

Iraq Receives Notification From The International Transport Federation Confirming Significant Progress In Implementing The TIR System.

Money and Business     Economy News – Baghdad   The Ministry of Transport announced on Friday that Iraq has received notification from the International Transport Federation confirming that it has made significant progress in implementing the TIR system.

The Director of the Land Transport Department of the Technical Department at the Ministry of Transport, Israa Hanoun, stated that “a notification from the International Road Transport Union (IRU) reached the TIR Convention contact point at the Iraqi Ministry of Transport bearing the phrase (Iraq is stealing the offer) in a clear message confirming that Iraq has made high progress in implementing the TIR system during the year 2025.”

Hanoon explained that "the system has been fully operational and seven new international routes have been opened across Iraqi territory within eight months, and more than (1000) international transport operations have been carried out," noting that "the notification also confirms the continued adoption of the TIR system for the movement of goods in transit by land across Iraqi territory, which contributes to enhancing the efficiency and security of international trade and consolidating Iraq's position as an important regional logistics corridor." https://www.economy-news.net/content.php?id=70423

The Minister Of Industry Confirms Work Is Underway To Prepare A Comprehensive Investment Map Across Various Industrial Sectors.

Money and Business   Economy News – Baghdad    Minister of Industry and Minerals, Mohammed Nouri, confirmed on Saturday that work is underway to prepare an integrated investment map in various industrial fields.

The media office of the Minister of Industry and Minerals stated that "Minister of Industry and Minerals Mohammed Nouri received the Australian Ambassador to Iraq, Glenn Miles, and the meeting discussed ways to enhance joint cooperation in the industrial and investment fields."

The minister stressed the work on "preparing an integrated investment map that includes many promising opportunities in various industrial fields, in order to support development plans and the government's directions in revitalizing the industrial sector."

https://www.economy-news.net/content.php?id=70464

Al-Zaidi Oversees The Handover Ceremony For The Central Bank Of Iraq

Localities   Prime Minister Ali Faleh al-Zaidi presided over the handover ceremony on Sunday between the new Central Bank Governor, Nizar Nasser Hussein, and the outgoing Governor, Ali Mohsen al-Alaq.

According to a statement from his office, al-Zaidi emphasized "the importance of proceeding with banking reform programs, which contribute to achieving financial stability and providing a suitable economic and investment environment to promote development."

He also stressed "the necessity of keeping pace with the digital transformation the world is witnessing and applying international standards in implementing financial policies."

The Prime Minister commended al-Alaq's efforts during his tenure and directed that he be appointed as the Prime Minister's Advisor for Economic Affairs. He further emphasized the importance of completing strategic programs that enhance institutional performance and support financial and banking stability in Iraq. https://www.economy-news.net/content.php?id=70522

The Iranian Delegation Refused To Shake Hands And Pose For A Group Photo With The American Delegation.

Arabic and international    Media reports indicate that the Iranian delegation refused to participate in a planned handshake and group photo with the American delegation on the sidelines of the ongoing talks between the two sides.
According to observers, this move reflects the continued tension and mistrust between Tehran and Washington despite ongoing diplomatic contacts.

The Iranian position comes amid sensitive negotiations dealing with complex security and political issues, as Tehran has been careful to avoid any protocol-driven scene that might be interpreted as a show of political rapprochement with the United States, stressing its commitment to separating the negotiation process from the accompanying political and media messages.

https://www.economy-news.net/content.php?id=70521

Banias Is On The Iraqi Oil Pipeline... Baghdad Is Looking For An Alternative Outlet Away From Hormuz

Reports   Economy News – Baghdad   Iraq is moving towards a new phase in managing its oil exports by expanding export outlets towards Syrian territory, in a move that reflects a strategic governmental direction to reduce dependence on traditional routes in the Arabian Gulf and enhance energy security and exports in light of the geopolitical changes taking place in the region.

This trend comes at a time when Iraq is preparing to begin exporting about 50,000 barrels per day of crude oil through Syrian territory starting next July, in addition to exporting naphtha, as part of a broader plan to diversify export outlets and ensure the continued flow of Iraqi oil to global markets under all circumstances. 

Earlier, Syrian Energy Minister Mohammed al-Bashir discussed with former Iraqi Oil Minister Hayyan Abdul Ghani ways to enhance joint cooperation in the energy sector. Both sides praised the efforts made to begin exporting Iraqi oil through Syrian territory. They also discussed the possibility of supplying domestic gas to Syria and rehabilitating oil pipelines, most notably the Kirkuk-Banias pipeline.

During the call, the Iraqi side emphasized that oil cooperation with Syria represents a long-term strategic option and not a temporary measure related to the current situation, while Damascus continues to work on developing its oil infrastructure and restoring its role as a regional energy transit corridor.

These steps reinforce what was discussed during the recent meeting between Prime Minister Ali al-Zaidi and the US envoy to Iraq, Tom Barrack, in Baghdad, where the two sides discussed enabling the American companies HKN, Western Zagros and Hunt to resume their work in Iraq with the provision of the necessary security guarantees, as well as proceeding with the memorandum of understanding signed with TI Capital to rehabilitate and develop the oil export route via the Kirkuk-Banias pipeline, which is one of the most important strategic projects proposed to diversify Iraq’s export outlets.

According to Reuters, citing Iraqi and Syrian officials and energy sector sources, Baghdad views the Syrian route as a long-term strategic option, not a temporary solution tied to current regional tensions or risks to shipping in the Strait of Hormuz. Officials at the Iraqi Ministry of Oil confirmed that plans to diversify crude oil and fuel export routes will continue even after shipping traffic returns to normal, as part of a policy aimed at reducing reliance on a single export outlet.

In this context, Oil Ministry spokesman Salim al-Rikabi said that the Iraqi government and the Oil Ministry attach paramount importance to the issue of diversifying export outlets, particularly through Syrian territory, noting that the Iraqi Oil Marketing Company (SOMO) continues its discussions and cooperation with the Syrian side to expand export operations through this route.

Current data indicates that Syria is working in parallel to increase its operational capacity to receive the increasing Iraqi quantities, as the Syrian Ministry of Energy announced its intention to open two additional oil unloading areas in the port of Banias, along with new service facilities, while Syrian officials confirmed that the port is currently able to receive and unload up to 900 tanker trucks per day.

During the past months, the Syrian Petroleum Company also increased the operational capacity for unloading Iraqi tankers at the Banias refinery by 30% after operating new unloading yards and improving direct pumping routes to the tanks, which raised the number of tankers unloaded daily to about 500 tankers, equivalent to about 120,000 barrels per day.

Despite the importance of these steps, the path to building a sustainable export route through Syria is not without its challenges. The land infrastructure continues to face significant logistical pressures due to the damage inflicted on road networks during the years of war, in addition to the long traffic jams on the roads leading to the port of Banias, as well as some accidents that have occurred during transport operations and fuel spills in various areas.

On the other hand, energy experts believe that these challenges remain less costly than the risks that may result from relying entirely on the southern ports and the Strait of Hormuz as the sole passage for Iraqi oil exports.

Energy expert Kovand Shirwani confirms that recent events have demonstrated the importance of having alternative export outlets, explaining that Iraq lost up to 3.3 million barrels per day after exports through Basra ports stopped, an amount that represents about 94% of its total oil exports.

Shirwani told Al-Eqtisad News that the only remaining secure outlet is the pipeline to the Turkish port of Ceyhan, but the quantities transported through it do not exceed about 250,000 barrels per day, which is equivalent to only 7% of total exports, even though its design capacity can reach one million barrels per day if the necessary technical requirements are completed.

He added that developing the northern pipeline and linking it to the production coming from the southern provinces could contribute to transporting a large part of Basra's oil to the port of Ceyhan and then to European markets, but at the same time he stressed the importance of finding an additional outlet through Syria.

Shirwani pointed out that the importance of the Banias project lies not only in reviving the historic Kirkuk-Banias pipeline, but also in establishing any new oil pipeline that reaches the Syrian coast and gives Iraq greater flexibility in managing its exports.

He noted that the old pipeline is now completely out of service, but there is a possibility of creating a new route starting from the Haditha area in Anbar province as part of a proposed project to extend a pipeline from Basra to Haditha, then connect it towards Syria, Jordan, or even the northern network.

He indicated that the cost of establishing the Syrian part of the project may range between 6 and 8 billion dollars, while implementation requires a period of no less than two years, but he considered that the strategic returns of the project exceed its financial cost due to what it provides in terms of protection for Iraqi oil exports in the future.

Iraq typically exports around 3.6 million barrels of crude oil per day, making the diversification of export outlets one of the most important strategic issues related to the security of the Iraqi economy, especially since oil revenues represent the main source of funding for the general budget.

Therefore, experts view the expansion of the use of the Syrian route, along with the development of the Turkish Ceyhan pipeline and future pipeline projects, as part of a broader vision to build a more flexible export system capable of confronting geopolitical crises and regional turmoil that may threaten the flow of Iraqi oil to global markets.

https://www.economy-news.net/content.php?id=70449

What Happens If the U.S. Economy Crashes?

What Happens If the U.S. Economy Crashes?

By   Kimberly Amadeo   Updated on August 28, 2024

Although the initial outbreak of COVID-19 in March 2020 sent a shockwave through the markets and economy, another recent near-collapse of the U.S. economy happened on September 16, 2008. This is the day the Reserve Primary Fund “broke the buck"—the value of the fund’s holdings dropped below $1 per share.1

Panicked investors withdrew billions from money market accounts where businesses keep cash to fund day-to-day operations.2 If withdrawals had gone on for even a week, and if the Fed and the U.S. government had not stepped in to shore up the financial sector, the entire economy would likely have ground to a halt. Trucks would have stopped rolling, grocery stores would have run out of food, and businesses would have been forced to shut down.

Will the U.S. Economy Collapse?

A U.S. economic collapse is unlikely. When necessary, the government can act quickly to avoid a total collapse.

For example, the Federal Reserve can use its contractionary monetary tools to tame hyperinflation, or it can work with the Treasury to provide liquidity, as during the 2008 financial crisis and COVID-19 pandemic. The Federal Deposit Insurance Corporation insures banks, so there is little chance of a banking collapse similar to that in the 1930s.

The president can release Strategic Oil Reserves to offset an oil embargo. Homeland Security can address a cyber threat. The U.S. military can respond to a terrorist attack, transportation stoppage, or rioting and civic unrest. In other words, the federal government has many tools and resources to prevent an economic collapse. 

What Would Happen If the U.S. Economy Were to Collapse?

If the U.S. economy were to collapse, you would likely lose access to credit. Banks would close. Demand would outstrip the supply of food, gas, and other necessities. If the collapse affected local governments and utilities, then water and electricity might no longer be available.

A U.S. economic collapse would create global panic. Demand for the dollar and U.S. Treasurys would plummet. Interest rates would skyrocket. Investors would rush to other currencies, such as the yuan, euro, or even gold. It would create not just inflation, but hyperinflation, as the dollar would lose value to other currencies.

If you want to understand what life would look like during an economic collapse, think back to the Great Depression. The stock market crashed on Black Thursday. By the following Tuesday, it was down 25%. Many investors lost their life savings that weekend. 

By 1932, one out of four Americans was unemployed.3 Wages for those who still had jobs fell precipitously—manufacturing wages dropped 32% from 1929 to 1932.4 U.S. gross domestic product was cut nearly in half. Thousands of farmers and other unemployed workers moved to California and elsewhere in search of work. Two-and-a-half million people left the Midwestern Dust Bowl states.5 The Dow Jones Industrial Average didn't rebound to its pre-crash level until 1954.6

Dow Jones Industrial Stock Price Index: 1925–1960

After the Dow Jones peaked in 1929, the index fell during the Great Depression and didn't fully recover until 1954, 25 years later.   LINK   https://www.thebalancemoney.com/u-s-economy-collapse-what-will-happen-how-to-prepare-3305690

Collapse Versus Crisis

An economic crisis is not the same as an economic collapse. As painful as it was, the 2008 financial crisis was not a collapse. Millions of people lost jobs and homes, but basic services were still provided.

Other past financial crises seemed like a collapse at the time, but are barely remembered now. 

1970s Stagflation

The OPEC oil embargo and President Richard Nixon’s abolishment of the gold standard triggered double-digit inflation. The government responded to this economic downturn by freezing wages and labor rates to curb inflation.7 The result was a high unemployment rate. Businesses, hampered by low prices, could not afford to keep workers at unprofitable wage rates.8

1981 Recession

In 1981, the Fed raised interest rates in a bid to end double-digit inflation.9 That created the worst recession since the Great Depression. President Ronald Reagan cut taxes and increased government spending to end it.10

To Continue Reading:  https://www.thebalancemoney.com/u-s-economy-collapse-what-will-happen-how-to-prepare-3305690

Sunday Iraq News posted by Tishwash at TNT 6-21-2026

TNT:

Tishwash:  Al-Zaidi at the White House… “Starlink” and the oil fields are Baghdad’s gateway to breaking Washington’s favor

The whispering voice from the back corridors of diplomacy indicates that the Iraqi Prime Minister, Ali al-Zaidi, has become the fastest Iraqi Prime Minister to reach the White House after assuming office, in a visit that resembles not the rituals of routine protocol as much as it resembles the inauguration of a new geopolitical “threshold,” in which the chemistry of interests is intertwined with the fuel of strategic caution.

Behind the scenes in Washington, the anticipated visit is seen as marking a new phase in the relationship between Baghdad and Washington. It's not merely about exchanging agendas, but rather an attempt to forge broader cooperation on critical issues such as energy, the economy, and security.

As the drafts of the initial agreements whisper, there is a bold ambition to expand the presence of American companies in Iraq, particularly those operating in the southern oil fields, as well as granting important licenses to Starlink, in a move that symbolizes a breakthrough into Iraq’s troubled digital space.

However, this bright horizon is not without clouds in the form of looming obstacles, given the continued influence of Iran and armed factions in the Iraqi scene.

Here, specifically, the bitter reality is revealed; the statesman who tries to tame the factional dragon is dancing on the edge of an abyss, where the sounds of missiles sometimes rise above the voice of reason.

Al-Masalla highlighted a telling tweet by Iraqi political analyst Ghalib al-Nahi, who wrote: “Al-Zaidi’s visit is not a sightseeing trip… The man carries a briefcase full of promises, but he knows that the real decision-maker may not be in Baghdad or Washington.” In contrast, international relations professor Renad Mansour wrote on his account: “Granting Starlink licenses is a test of sovereignty… Does the Baghdad government have the luxury of opening up airspace without prior permission from the factions and Iran?”

Sources confirm that Washington has received initial positive signals regarding a number of demands that it had previously conveyed to the Iraqi government. The sources describe Barak's visit as pivotal in the course of Iraqi-American relations, considering that it establishes a different phase from that which followed 2003, based on clear commitments and mutual interests.

The burning core that could derail the negotiations, according to those sources, is the most prominent American demand to disarm all armed factions without exception, prevent their participation in the government, and complete the integration of the Popular Mobilization Forces into official security institutions after removing leaders associated with armed factions. link

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

TishwashL  MP: Economic reform begins with activating the private sector

MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.
Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."

He added that "Iraq is currently experiencing an economic crisis as a result of mismanagement and poor planning, in addition to regional tensions that have negatively impacted the overall economic situation."

He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."
He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services."

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

Tishwsh:  Following the FATF decision, economists warn of a heavy cost and financial isolation for Iraq after its return to the grey list.

 Economic experts warned on Saturday of the repercussions of Iraq's return to the "grey list" of countries under enhanced monitoring regarding efforts to combat money laundering and financial crimes, stressing that the slowness in addressing this issue could land the country on the "black list," where Baghdad faces international financial and economic isolation.

A step backward and an international alarm bell

In this regard, Ziad Al-Hashemi, a researcher and consultant in economics and international transport, said in a blog post that Iraq’s return to the Financial Action Task Force’s grey list after it was removed from it in 2018 represents a step backward and an international alarm bell indicating that compliance standards for combating money laundering and terrorist financing are still not being properly implemented.

He explained that "this negative development reveals a clear deficiency in the implementation of anti-money laundering and smuggling plans, which puts the Central Bank and the banking system in a worrying position before international financial institutions, and will increase the caution of international banks, especially correspondent banks that work with Iraq in completing dollar transfers."

Al-Hashemi pointed out that the expected result of this inclusion is to impose more scrutiny on foreign transfers, and to obligate the Central Bank to take complex measures to stop suspicious transactions, indicating that these steps may take a long period of reviews and adjustments to implementation and monitoring procedures.

Compliance costs and parallel market pressures

From an economic standpoint, the economic consultant confirmed that listing inevitably means higher compliance costs and foreign transfers, a slowdown in investment flows, increased pressure on exchange rates in the parallel market, and growing demand for cash transactions outside the banking system, with a possible increase in the cost of external borrowing.

For his part, the head of the “Iraq Future” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, warned in a written statement of the seriousness of this inclusion, saying: “The failure to complete the agreed procedures within the specified timeframes will cost Iraq a lot, and may expose it to the risk of being placed on the blacklist with its financial isolation and economic damages that affect the daily livelihood of the citizen,” stressing that the opportunity is still available to remedy the situation, but the cost will be exorbitant if it is missed.

The official position: A national plan and avoiding a "black" situation.

In contrast, the Anti-Money Laundering and Counter-Terrorism Financing Council, in cooperation with the Central Bank of Iraq, announced the adoption of a joint and specific action plan to develop the national system, stressing that Baghdad has succeeded through its proactive measures in avoiding the international “blacklist” by complying with standards and addressing weaknesses identified by international and regional groups.

The Council explained that the approved national plan indicates that the competent Iraqi authorities have made tangible progress since the adoption of the mutual evaluation report in November 2024, including the application of market entry controls and the introduction of risk reduction measures in the real estate sector, indicating that the enhanced follow-up path has been accompanied by many countries of the world and the region based on “Quality and Consistency” reviews and adjustment of weights and assessments due to the nature of the existing risks.

FATF decision and justifications for international listing

These field positions come in conjunction with the announcement by the Financial Action Task Force (FATF) yesterday, Friday, that Iraq has been officially placed on the "grey list".

The group’s chair, Elisa de Anda Madrazo, said in a statement translated by Shafaq News Agency that “the group’s plenary meeting decided to add Iraq to the enhanced monitoring list, as there is still an urgent need to take measures to address the risks associated with heavy cash transactions, increase judicial investigations related to money laundering, and enhance the use of financial information.”

Government priorities and anticipated financial reform

This shocking international decision and financial controversy comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are the cornerstones of its ministerial program. Prime Minister Ali al-Zubaidi had announced, since taking office last May, that rebuilding the financial system, attracting foreign investments, and fighting corruption channels would be at the forefront of his government’s program.

It is worth noting that the Financial Action Task Force (FATF) announced in July 2018 that Iraq had been completely removed from the monitoring and surveillance zone, as a result of the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering Office at the time in fulfilling international obligations and implementing a comprehensive financial compliance strategy, with broad participation from governmental, judicial and security systems, including the Supreme Judicial Council, the Ministries of Interior, the National Security and Intelligence Services, the Counter-Terrorism Service, and counterpart agencies in the Kurdistan Region.  link

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

Tishwash:  An economic institution warns against the "dollarization" of the Iraqi economy and the deepening of poverty if the dinar is devalued.

The “Iraq Future” Foundation for Economic Studies and Consultations warned on Friday of the repercussions of reducing the value of the Iraqi dinar against the US dollar, stressing that the negatives of such a step - if the federal government takes it - will outweigh its temporary benefits to the country’s economy.

These warnings come at a time when political and financial circles are increasingly discussing the possibility of devaluing the local currency as an option to address the current deficit and alleviate pressure on the general budget, especially after government revenues declined sharply to only 10% compared to their previous levels before the recent military conflict in the region and the easing of the Strait of Hormuz.

The report quoted the head of the institution, economist Manar Al-Obaidi, as saying, "Despite the assurances in official reports regarding the stability of monetary policy and its pursuit of stability, it remains necessary to analyze the pros and cons of this approach to assess its real impact on the Iraqi economy and society."

Partial financial gains

The report explained that those who support the option of reducing the dinar rely on a number of financial and monetary gains; most notably providing a partial financial option that contributes to reducing government expenditures denominated in dinars (such as local salaries), which in turn reduces the overall size of spending in dollars.

Supporters also believe that higher prices for imported goods will enhance the competitiveness of local agricultural and industrial products, as well as protect cash reserves from continuous depletion and reduce the gap between the official exchange rate and the parallel market rate.

Risks of "dollarization" and recession

On the other hand, the institution warned of dire consequences that could squander these gains, most notably a complete loss of confidence in the national currency.

In this regard, Al-Obaidi explained that “the continuous change in the value of the currency at a rate of every two years undermines the public’s confidence in the dinar, which pushes the private sector and citizens to adopt the dollar as the primary currency in daily and commercial transactions.”

He added that this “dollarization” will create a huge demand for hard currency in the parallel market, which may cause the price gap to widen instead of narrowing as a result of the scarcity of official supply, warning that the lack of exchange rate stability will inevitably drive away local and foreign investments that base their feasibility studies on long-term plans.

The report also indicated that devaluing the dinar would automatically increase the cost of government contracts for purchasing goods and services denominated in foreign currency, thus raising the state's operating expenses and plunging the country into a spiral of "successive reductions" without sustainable financial guarantees.

A wave of inflation and deepening poverty

On the social level, the organization warned that the absence of adequate social protection mechanisms to support vulnerable groups means that the currency devaluation will generate a sharp wave of inflation that will push large segments of citizens below the poverty line, as well as bringing the commercial sector (which represents the largest share of non-oil GDP) into a state of paralysis and stagnation, which will negatively affect job opportunities and exacerbate unemployment rates among young people.

The head of the “Iraq of the Future” Foundation concluded his remarks by saying: “Adjusting the exchange rate alone is not a radical solution, but rather a postponement of a deeper crisis. The real problem lies in three main axes: the continuous inflation of operating expenses, the scarcity of non-oil revenues, and the imbalance in the trade balance. Comprehensive structural reform begins with addressing these roots and not through individual and temporary solutions.”  link