Iraq News Posted by Tishwash at TNT 5-8-2026

TNT:

Tishwash:  Al-Zaydi presents the ministerial program to the Speaker of Parliament

 Prime Minister-designate Ali Faleh al-Zaidi presented the new government’s ministerial program to Speaker of Parliament Hebat Hamad al-Halbousi on Thursday (May 7, 2026), while both sides stressed the importance of cooperation to complete the process of granting confidence to the government.

The media office of the Prime Minister stated in a statement received by "Baghdad Today" that "Prime Minister-designate Ali Falih al-Zaidi presented the ministerial program of the new government to the Speaker of Parliament, Hebat Hamad al-Halbousi, during a meeting that brought them together today, Thursday."

The statement added that "the ministerial program will be circulated to members of the House of Representatives for them to study and review its details, and the names of the government formation will be submitted at a later time."

According to the statement, both sides emphasized "the importance of joint cooperation and coordination to proceed with completing the entitlement to grant confidence to the government and its ministerial program as the basic pillar upon which the government builds its work and duties, based on constitutional and legal contexts."  link

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Tishwash:  The government's features are taking shape, and the program is now in the hands of Parliament.

 As the political scene approaches a crucial moment, dialogues between political blocs are accelerating to finalize the formation of the new government, amid growing expectations that the cabinet will be announced and voted on next Monday, according to political data circulating within parliament.

These developments come amid advanced political understandings between the main parties, which have given the prime minister-designate ample room to choose his ministerial team, in parallel with the continuation of talks on the distribution of portfolios and the establishment of political entitlements for the various components, which makes the birth of the government dependent on precise agreements that have not yet been definitively settled.

In a related context, parliamentary data indicates that the government program has reached, or is about to reach, the House of Representatives, in preparation for its discussion and approval within the constitutional process related to passing the cabinet.

As the decision nears, the political debate is shifting towards the nature of the government program rather than the names, as a number of MPs are demanding a move away from quotas and the adoption of standards of competence, integrity and transparency in the selection of ministers, while enhancing transparency by publishing their biographies to the public.

In this context, MPs confirm that the features of the government have begun to gradually take shape, despite the continued disagreements over some portfolios and the mechanisms for distribution among the blocs.

Political.

Parliamentary initiatives have also emerged concerning the regulation of the relationship between the executive position and electoral entitlement, through a proposal that obliges ministers not to run in the upcoming elections, and prevents their first-degree relatives from running, in addition to including holders of special grades and undersecretaries of ministries, with the aim of limiting the exploitation of government influence in election campaigns, with the intention of including this in the election law later.

In parallel, interest in the security file is escalating as one of the top priorities of the next government, with calls for a comprehensive reform of the security and military system and an update of the combat doctrine in line with regional and international changes.   link

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Tishwash:  Saturday is the deadline for finalizing the cabinet... The Wisdom Movement reveals details of the new government structure

Fahd al-Jubouri, a leader in the Wisdom Movement, revealed what he described as the "zero hour" for resolving the issue of the ministerial cabinet, stressing that next Saturday will be the decisive date for the final vote on the new government formation within the House of Representatives.

Al-Jubouri told Zaqoura News Agency in a special statement that the political understandings between the forces participating in forming the government have reached advanced and positive stages, despite the continuation of some differences that previously brought the dialogues back to "square one".

He explained that "the general atmosphere of the talks is positive, and there are strong indications that the government will be announced and the cabinet finalized next Saturday," noting that the political dialogues have witnessed remarkable progress in recent days after intensive rounds of meetings between the various parties.

Regarding the news circulating about American interference in the selection of ministerial figures, Al-Jubouri described that information as "exaggerated and inaccurate," stressing that "the American position was limited to conveying a message before the selection of the designated prime minister, which included not dealing with a government that includes factions, without directly interfering in the naming of ministers or imposing specific figures."

Al-Jubouri indicated that the new government structure will include the creation of three positions for deputy prime ministers instead of four, after the prime minister objected to one of the candidates for the fourth position, explaining that the distribution of positions will take place according to specialized files that include economic and service affairs and the energy sector.

He explained that the move towards creating the position of Deputy Prime Minister for Economic Affairs came to address the confusion that the Ministerial Council for the Economy witnessed during the past period, as a result of the Foreign Minister being preoccupied with his international duties, which was reflected in the regularity of the periodic economic meetings.

Al-Jubouri concluded by emphasizing that the selection of the Vice Presidents and Deputy Prime Ministers will be based on a political and administrative vision aimed at ensuring that the state treasury is not burdened with additional financial obligations, noting that this approach has been agreed upon during recent official meetings.  link

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Tishwash:  Al-Khafaji reveals behind-the-scenes details of the Al-Zidi government with Al-Hajj: MPs will be prevented from performing Hajj until the vote, and salaries will be in jeopardy!

 MP Hassan Al-Khafaji revealed the behind-the-scenes details of the ongoing negotiations to form Ali Al-Zidi’s government, stressing that the heads of the political blocs informed the MPs of the need not to go to perform the Hajj rituals before the end of the session to vote on the anticipated government.

Al-Khafaji said during his interview with journalist Hossam Al-Hajj that “the last plane carrying pilgrims will take off from Baghdad Airport carrying 183 MPs after the end of the voting session,” indicating that the session to grant confidence to Al-Zidi’s government will be held on Sunday or Monday next week.

He added that the current Minister of Labor, Ahmed Al-Asadi, will retain his ministerial portfolio, while the Reconstruction and Development Coalition seeks to obtain the Ministry of Electricity “to contribute to ending the suffering of citizens with the energy crisis.”

Al-Khafaji indicated that the Ministry of Oil file was “resolved” in favor of the Sudanese coalition, along with four other ministries, noting that there were objections within the negotiations regarding the inclusion of bodies within the negotiating points, saying that “some are upset and do not want the bodies to be included within the points.”

He explained that the selection of Al-Zidi “pleased” many political forces because he is an “economic man,” revealing that the Prime Minister-designate asked the coordination framework to choose the Ministers of Finance and Interior.

Regarding the position of Deputy Prime Minister, Al-Khafaji confirmed that the position “cost Asa’ib 15 points,” indicating that there is an opinion within the coordination framework that rejects keeping the positions of Deputy Prime Ministers because of the financial and administrative burdens they represent.

He explained that the Sudanese coalition was heading towards the opposition option, but the appointment of Al-Zaidi changed the course towards “absolute support” for the new government, adding that the merchants expressed their satisfaction with the appointment of Al-Zaidi because he “will spare Iraq from wars and keep it away from problems.”

Al-Khafaji also touched on the issue of foreign relations, stressing that “the Americans have a problem with the Popular Mobilization Forces,” and predicting that the leaders of the factions would refrain from direct participation in the next government.

In the economic file, Al-Khafaji called for closing the “dollar cycle” and reducing dependence on a single export outlet, describing this as a “disaster,” noting that Iraq imports agricultural crops from Turkey worth up to $25 million.

Al-Khafaji concluded his remarks with an economic warning, saying: “I don’t want to cause the people anxiety, but if the Strait of Hormuz remains closed, we will face difficulty in paying salaries.” link

Seeds of Wisdom RV and Economics Updates Friday Morning 5-8-26

Good Morning Dinar Recaps,

Oil Shock and De-Dollarization Pressures Intensify: Global Financial System Faces Growing Strain

Escalating energy instability, weakening confidence in traditional financial structures, and rising de-dollarization efforts are accelerating structural changes across the global economy

Today’s market movements reveal a deeper shift underway as geopolitical conflict, energy disruption, and currency diversification increasingly reshape the global financial order.

OVERVIEW (KEY POINTS)

Global markets are reacting to a dangerous combination of Middle East instability, oil market volatility, and growing pressure against the U.S. dollar-based financial system.

The Strait of Hormuz remains a major flashpoint as tensions between the United States and Iran continue disrupting shipping routes and creating uncertainty around global energy supplies. Oil prices have repeatedly surged above critical levels, fueling inflation concerns worldwide.

At the same time, countries across the BRICS bloc and emerging markets continue accelerating efforts toward local currency trade settlements, reserve diversification, and reduced dependency on the U.S. dollar.

The broader implication is becoming clearer: the global financial system is entering a period of fragmentation where geopolitical conflict and monetary realignment are increasingly interconnected.

KEY DEVELOPMENTS

1. Oil Markets Remain Highly Volatile

Energy markets continue reacting to geopolitical instability.

• Brent crude repeatedly moved near or above $100 per barrel

• Hormuz disruptions continue threatening global oil and LNG flows

2. De-Dollarization Momentum Continues Growing

Emerging economies are seeking alternatives to dollar dependence.

• BRICS nations continue expanding local currency settlement systems

• Central banks are increasing diversification into gold and non-dollar reserves

3. Global Food and Supply Costs Rise

Energy instability is spreading through the broader economy.

• Rising fuel costs are increasing shipping and fertilizer expenses

• Global food prices climbed again as supply chains remain strained

4. Financial Markets Show Signs of Structural Stress

Investors are balancing optimism with systemic risk concerns.

• Bond markets remain volatile amid inflation fears

• Currency fluctuations and energy shocks continue pressuring central banks

5. AI and Cybersecurity Risks Add New Financial Threats

The IMF warned today that technology risks are rising rapidly.

• AI-driven cyberattacks could threaten banking and financial infrastructure

• Financial stability concerns are expanding beyond traditional economic risks

 WHY IT MATTERS

The convergence of energy instability, geopolitical conflict, and monetary diversification is creating pressure across the entire global financial system.

Historically, the U.S. dollar benefited from stable energy trade and centralized financial infrastructure. Today, those foundations are increasingly being challenged by regional conflicts, sanctions fatigue, and multipolar trade agreements.

Markets are beginning to price in a world where global trade may operate through multiple competing financial systems rather than one dominant structure.

This shift does not necessarily signal the immediate end of dollar dominance, but it does suggest the emergence of a more fragmented and competitive financial landscape.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Currency volatility is increasing across emerging markets

• Gold accumulation continues rising as a reserve hedge

• Oil-importing nations face higher inflation and weaker purchasing power

• Diversification away from dollar-only reserves is accelerating

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1: Energy and Currency Systems Are Decoupling

Countries are increasingly seeking ways to conduct trade outside traditional dollar settlement structures, particularly in energy markets.

• Pillar 2: Multipolar Financial Infrastructure Is Expanding

Alternative payment systems, reserve diversification, and regional trade agreements are gradually reshaping global financial influence.

 CONCLUSION

Today’s developments reinforce a growing reality: the world economy is moving into a period of higher fragmentation, strategic competition, and systemic realignment.

The combination of energy disruptions, geopolitical tensions, and de-dollarization efforts is creating long-term pressure on the financial structures that have dominated global trade for decades.

While markets continue adapting in real time, the deeper transformation appears increasingly structural rather than temporary.

The future global economy may not be built around a single financial center, but around competing systems struggling for influence and stability.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — Chip push, crude pull""Morning Bid:

• The Guardian — "Financial stability risks are rising as AI fuels cyber-attacks, IMF warns"

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 🌱 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

~~~~~~~~~~

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RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

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Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Friday Morning 5-8-26

Iraq Is Among The Top Destinations For Turkish Exports, With Strong Growth Last Month.

Money and Business    Economy News – Baghdad   Iraq was among the key markets that supported the growth of Turkish exports during April 2026, at a time when the Mediterranean Exporters Associations in Turkey announced strong results in a number of regional and international markets.

The head of the associations, Faisal Mameesh, said in a statement followed by “Al-Eqtisad News”, that the value of their exports reached $1.65 billion during last April, an increase of 27% compared to the same period last year.

He noted that export performance witnessed clear momentum in the Italian and German markets, while strong growth was also observed in the Iraqi markets, in addition to the Romanian, Spanish and Egyptian markets.

Mameesh explained that this increase was driven by increased exports of iron, minerals, chemicals, fruits, vegetables, grains, legumes and oilseeds, which are commodities that are in growing demand in the Iraqi market.

The inclusion of Iraq among the fastest growing markets reflects the continued expansion of trade between Baghdad and Ankara, especially given the Iraqi market's reliance on foreign imports to secure some food, construction materials, and industrial goods.

Turkish associations also expect this export momentum to continue in the coming months, aiming to achieve annual growth exceeding 10% by the end of the year. https://www.economy-news.net/content.php?id=68790

Globally, The Dollar Is Rising Amid Escalating Tensions Between The United States And Iran.

Money and Business    Economy News - Follow-up   The dollar began Asian trading on Friday higher against most major currencies after renewed hostilities between the United States and Iran, while the Japanese yen remained largely stable following fresh hints from authorities in Tokyo.

The United States and Iran traded fire and sharp criticism again on Thursday, adding to the strain on the fragile month-long ceasefire, as Iran considers a proposal from Washington to end the war.

Oil prices jumped and US crude oil futures rose 3% in early trading, increasing the risk aversion in currency markets.

The dollar index, which measures the strength of the US currency against other major currencies, rose slightly to 98.235.

The escalating tensions pushed the dollar higher for the second consecutive day, rebounding from its lowest level in over two months earlier in the week amid hopes for a peace agreement. The dollar is now on track to end the week virtually unchanged.

https://www.economy-news.net/content.php?id=68804

In Numbers: Iraqi Debts Up To April 2026

Money and Business   Economy News – Baghdad   Recent official data issued by the Ministry of Finance shows the financial position of Iraqi internal and external debts up to the end of April 2026.

The figures showed a disparity in the size of borrowing and the ability to repay between inherited obligations and those created during the current government's term. 

Details Of Internal Debt 

These data were included in a report by the Public Debt Department of the Ministry of Finance, which indicated with updated figures that the total domestic borrowing that took place during the period from 2023 until April 30, 2026 amounted to 46.035 trillion dinars.

These loans were distributed as follows: 7.590 trillion in 2023, rising to its peak in 2024 with an amount of 17.105 trillion dinars, then settling at 10.840 trillion in 2025 and 10.5 trillion in the first months of 2026.

 Despite the size of the new borrowing, the Ministry of Finance, according to the Ministry of Finance data, succeeded in paying off an amount of 19.910 trillion dinars, so that the total internal debt balance stabilized at 96 trillion and 629 dinars, while the internal debt balance due to the accumulated borrowing from previous governments (2004 - 2022) had recorded 70.505 trillion dinars.

 External Debt

Regarding the external debt file, the data showed tangible progress in reducing financial burdens, as the current external debt balance reached $10.076 billion, and the Ministry of Finance was able, between 2023 and April 2026, to repay $2.166 billion of loans inherited from previous governments.

 Regarding "old debt" from before 2003 (Paris Club countries and non-Paris Club countries), the Ministry of Finance report revealed that the outstanding balance as of the end of April 2026 had decreased to only $2.963 billion. In comparison, the outstanding balance of external project debt for the period 2016-2022 had previously reached $12.926 billion     .https://www.economy-news.net/content.php?id=68802

World Cup Tickets Spark Controversy... "Worst Seat" In The 2026 World Cup Final Costs $11 Million!

Money and Business   Economy News - Follow-up   The prices of tickets for the 2026 World Cup have sparked widespread anger among football fans, after the prices of some seats, even in the regular categories, reached astronomical figures months before the start of the tournament.

With the opening of ticket sales, fans were surprised by a huge increase in prices, especially for the final match scheduled for July 19 at MetLife Stadium in New Jersey, USA.

FIFA had previously announced that the maximum price for a ticket to the final was around $1,550, but the official sales platform later showed tickets offered for more than $10,000, while some tickets offered for resale reached shocking figures exceeding $11 million, even though the seat included in them is among the worst in terms of visibility inside the stadium.

One ticket that circulated sparked considerable controversy after it was offered for £8.5 million for a seat in the upper rows of the stadium, which fans considered evidence that the tournament had become an event reserved for the wealthy only.

Many fans expressed their anger over the prices on social media, with some describing what was happening as "financial exploitation," while others considered that "football is no longer the fans' game."

Travel and transportation costs also saw a significant increase, with the price of a train journey of no more than 30 minutes from New York to MetLife Stadium rising from less than $10 to about $150 during the tournament matches.

For his part, FIFA President Gianni Infantino defended the prices, stressing that the exorbitant figures offered in the resale market do not reflect the true value of the tickets, adding that the international federation deals with the "market reality" in the United States as one of the largest entertainment markets in the world.

In contrast, fan groups criticized the tournament's pricing policy, arguing that fans coming from all over the world felt "unwelcome," especially given the significant increase in the costs of tickets, transportation, accommodation, and services associated with the World Cup. https://www.economy-news.net/content.php?id=68800

How Can Iraq Secure Its Financial Needs Without Selling Oil?

Karim Al-Araji, Expert And Consultant In International Economics  -  After Saudi Arabia, the UAE, and Kuwait, Iraq is the fourth largest holder of US Treasury bonds in West Asia. The value of these bonds purchased by Iraq reached approximately $42 billion by the end of 2025.

This figure was $23.4 billion at the beginning of that year, representing a 79% increase in just one year. One of the main reasons for Iraq's purchase of this quantity of US Treasury bonds is that Iraqi oil revenues are subject to the control of the US Federal Reserve, in accordance with UN Security Council Resolution 1483.

According to paragraph 20 of this resolution, Iraqi oil export revenues are to be transferred to a fund called the Development Fund for Iraq. Later, by order of Paul Bremer, the US administrator of the Coalition Provisional Authority in 2003, this account was opened at the Federal Reserve. Thus, Iraq's sources of income have been under US control ever since.

Given that oil revenues constitute more than 90% of Iraq’s federal budget, preventing Iraq from freely accessing its oil revenues by the United States leads to reduced capabilities and constraints on securing the necessary financing for trade with other countries, developing oil and petrochemical infrastructure and power plants, creating jobs, and providing services appropriately.

With the closure of the Strait of Hormuz, the halt in exports, and the decline in oil revenues, this is an opportune time to secure the country's financial needs by selling this quantity of bonds.

Therefore, it is also essential to completely cease purchasing these bonds and redirect this valuable asset towards the country's progress and meeting the financial needs of the Iraqi people.    https://www.economy-news.net/content.php?id=68672

MilitiaMan & CREW IRAQ DINAR UPDATE-Global Integration: CBI, HCL, Digital Economy & New Oil Finds-REER Future

MilitiaMan & CREW IRAQ DINAR UPDATE-Global Integration: CBI, HCL, Digital Economy & New Oil Finds-REER Future

5-8-2026

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.

Follow MM on X == https://x.com/Slashn

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=adLskus65Cg

Seeds of Wisdom RV and Economics Updates Thursday Evening 5-7-26

Good Evening Dinar Recaps,

Record Global Debt and Middle East Instability Raise New Financial Reset Warnings

Surging debt levels, weakening confidence in long-term U.S. borrowing, and escalating energy risks are increasing pressure on the global financial system.

 Overview

Today’s developments point to a financial system facing simultaneous pressure from debt expansion, geopolitical instability, and inflation-sensitive energy markets. While markets continue functioning normally on the surface, deeper indicators suggest that global capital flows and confidence in traditional financial structures are beginning to shift.

Key Developments

1. Global Debt Hits Historic $353 Trillion Record

The Institute of International Finance reported that global debt reached nearly $353 trillion, marking one of the fastest quarterly increases since mid-2025. The rise was driven heavily by U.S. government borrowing and expanding Chinese corporate debt, pushing global debt levels to approximately 305% of world GDP.

2. Investors Begin Diversifying Away From U.S. Treasuries

International investors are showing early signs of shifting capital toward European and Japanese government bonds instead of U.S. Treasuries. Analysts stressed there is no immediate collapse risk, but concerns are growing that long-term U.S. debt trajectories are becoming increasingly difficult to sustain.

3. Renewed U.S.–Iran Fighting Sends Oil Prices Higher

Fresh clashes between U.S. and Iranian forces near the Strait of Hormuz pushed oil prices sharply higher today, while stock futures weakened amid renewed fears of prolonged energy disruption. Rising oil prices continue to increase inflationary pressure, shipping risk, and uncertainty across global markets.

4. Fuel Shortages and Inflation Risks Grow Inside the U.S.

Reuters reported that shrinking U.S. fuel inventories are leaving the economy vulnerable as refineries export more fuel abroad to capitalize on elevated global prices. Analysts warn that sustained shortages and higher gasoline prices could place additional strain on consumers and economic growth.

Why It Matters

The combination of record debt, rising geopolitical risk, and energy market instability reflects a system increasingly dependent on continuous borrowing and central bank support. Historically, environments like this have often preceded major monetary adjustments, liquidity interventions, or shifts in reserve asset behavior.

 Why It Matters to Foreign Currency Holders

• Greater potential for currency volatility tied to debt and oil markets

• Rising interest in alternative reserve assets and regional trade systems

• Increased pressure on countries carrying high external debt burdens

Implications for the Global Reset

• Pillar 1: Debt Sustainability Under Pressure

As borrowing accelerates globally, governments may eventually face difficult choices involving higher taxation, inflationary policy, restructuring, or monetary intervention.

• Pillar 2: Global Confidence Realignment

The gradual diversification away from U.S. debt markets suggests a slow but important shift in global investor psychology and financial trust allocation.

Closing Insight

Today’s headlines reveal more than temporary volatility. The world economy is increasingly balancing on record leverage, fragile energy flows, and geopolitical uncertainty, creating conditions that could accelerate structural changes within the international financial system.

This is not just another market cycle — it’s mounting pressure on the foundations of the global financial order.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "Global debt hits record of near $353 trillion, with signs of move away from US"

• Reuters — "Oil jumps and stock futures slip on renewed US-Iran fighting"

~~~~~~~~~~

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Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Thursday Evening 5-7-26

An Economist Warns Of A Severe Financial Crisis And Suggests Adjusting The Dollar Exchange Rate.

Time: 2026/05/04   {Economic: Al-Furat News} Economic expert, Nabil Al-Marsoumi, warned of the seriousness of the financial situation in Iraq, pointing to a large financial gap and escalating challenges that threaten economic stability in the coming period.

 Al-Marsoumi said, during his appearance on the “On the Ruler” program broadcast by Al-Furat satellite channel, that “Iraq’s balance at the Central Bank is likely to decrease by up to $5 billion per month,” considering that “the continuation of this decline in the medium term represents a great danger.”

He pointed out that "the new government may be forced to make a decision to adjust the dollar exchange rate, despite it being one of the worst means of financing the budget, in addition to raising fuel prices."

Al-Marsoumi added that “the recent statements by the Undersecretary of the Ministry of Oil regarding the export of between 160,000 and 200,000 barrels per day through the Kurdistan Region pipeline were disappointing, as exports were supposed to reach about 300,000 barrels per day,” noting “the slowness in the procedures of the Ministry of Oil for exporting crude.”

He explained that "export operations through the south are facing challenges, with the absence of clear figures and the possibility of a decline in oil exports during April compared to March, which will negatively affect the Iraqi economy."

Al-Marsoumi explained that "Iraq is one of the countries most affected in the oil production file as a result of the closure of giant fields for long periods, which leads to complex technical damage, especially in fields that depend on water injection, which makes it difficult to restore their production capacity later."

Regarding the truth about the arrival of the dollar shipment to Iraq, Al-Marsoumi explained that "the American embassy announced that no dollar shipment was sent to the country, denying the narrative that attributes its delay to air traffic or the atmosphere of war, and confirming that this came by an American decision, which is a dangerous indicator."

He added that "the market responded to this development with a slight increase in the dollar exchange rate, considering this a clear message to the Iraqi government, indicating that the Central Bank's cash dollar balance currently stands at only about $612 million.

Al-Marsoumi stressed that “Iraq cannot sell its oil in anything other than dollars at present and that alternatives will take years,” warning that “delaying the release of cash shipments will lead to higher exchange rates,” calling on the government to “act quickly to address the crisis,” noting that “the current economic challenges require realistic solutions that are commensurate with the size of the crisis.” Wafaa Al-Fatlawi https://alforatnews.iq/news/خبير-اقتصادي-يحذر-من-أزمة-مالية-حادة-ويرجح-تعديل-سعر-صرف-الدولار

The US Treasury Imposes Sanctions On The Iraqi Deputy Oil Minister And Leaders Of Pro-Iranian Factions

Baghdad – One News    5/07/2026   The US Treasury Department announced on Thursday new sanctions against Iraqi Deputy Oil Minister Ali Ma’araj al-Bahadli and a number of figures and entities linked to armed factions loyal to Iran, as part of what Washington described as a “maximum pressure” campaign against Tehran and its financial networks in Iraq. 

The ministry said in a statement issued by the Office of Foreign Assets Control (OFAC) that al-Bahadli “exploited his official position to facilitate the diversion of Iraqi oil and its sale to the benefit of the Iranian regime and its affiliated armed factions,” accusing him of providing facilities to oil smuggling networks and issuing forged documents to conceal the origin of Iranian oil and sell it as Iraqi oil. 

The US Treasury confirmed that the sanctions also included prominent leaders of the “Asaib Ahl al-Haq” and “Kataib Sayyid al-Shuhada” factions, along with four Iraqi companies operating in the oil sector, accusing them of financing the activities of armed factions and coordinating with the “Iranian Revolutionary Guard”. 

US Treasury Secretary Scott Bessent said, “The Iranian regime is plundering resources belonging to the Iraqi people and using oil revenues to fund terrorism against the United States and its partners.” 

According to the statement, the sanctions include freezing all assets and property belonging to the individuals and entities covered within the United States, in addition to prohibiting financial transactions with them, while threatening to impose “secondary sanctions” on any foreign financial institutions that cooperate with them or facilitate their activities. 

The US Treasury Department also stressed that the US administration will continue to target Iranian oil smuggling networks and cut off funding sources for armed factions supported by Tehran in Iraq and the region

https://1news-iq.net/الخزانة-الأميركية-تفرض-عقوبات-على-نائ/

The Ministry Of Oil Announces An Oil Discovery In Najaf Within The "Al-Qarnayn" Exploration Area With Reserves Of 8.8 Billion Barrels

Baghdad – One News     5/07/2026  The Iraqi Ministry of Oil announced a new oil discovery within the “Qarnayn” exploration block, with reserves estimated at about 8.8 billion barrels, in a move that supports Iraq’s plans to increase its oil production capacity in the coming years.

 The announcement came during Oil Minister Hayyan Abdul Ghani’s reception of a delegation from the Chinese company Zhenhua, where the two sides discussed developments in the work in the “Al-Qarnayn” exploration block, in addition to the East Baghdad South field. 

Abdul-Ghani confirmed that the discovery was made within the Al-Qarnayn block, which was awarded to the Chinese company as part of the fifth supplementary and sixth licensing rounds in 2024. He stressed the importance of accelerating work to complete oil projects and maximize the utilization of associated gas, thus ensuring the sustainability of crude oil production. 

He added that the Al-Qarnayn block is the first exploration block to record an oil discovery within the blocks offered in the fifth supplementary and sixth licensing rounds, reflecting the significant potential of undeveloped areas in Iraq, particularly border regions.      https://1news-iq.net/وزارة-النفط-تعلن-عن-اكتشاف-نفطي-بالنجف/

Iraq’s PM-Designate Unveils 14-Point Program Before Confidence Vote

2026-05-07 / Shafaq News- Baghdad   Iraqi Prime Minister-designate Ali Al-Zaidi on Thursday unveiled a 14-point ministerial program detailing the incoming government’s priorities ahead of a planned parliamentary confidence vote. 

According to a copy obtained by Shafaq News, the program focuses on state sovereignty and national security, foreign policy, economic and financial reform, energy, industry, agriculture and water resources, governance and anti-corruption measures, education, healthcare, social protection and poverty reduction, telecommunications and information technology, human rights, women and children’s affairs, youth and sports, as well as culture, tourism, and antiquities. 

Al-Zaidi had formally submitted the program to Parliament Speaker Haibet Al-Halbousi for circulation among lawmakers before next week’s vote. 

Negotiations over ministerial portfolios continue under a points-based system tied to parliamentary representation, with blocs generally requiring at least 10 seats to secure service ministries and more than 15 seats for sovereign portfolios. Cabinet positions in Iraq are traditionally allocated through political agreements under the muhasasa system, a post-2003 power-sharing arrangement among the country’s main political and ethnic groups.

 Read more: Al-Zaidi named prime minister: Easy nomination, harder road ahead 1778179509989_�المنهاج النهائي 5-5-2026.pdf  (it's in Arabic) 

https://www.shafaq.com/en/Iraq/Iraq-s-PM-designate-unveils-14-point-program-before-confidence-vote

Mark Zuckerberg Makes a Strong Case for Real Assets

Mark Zuckerberg Makes a Strong Case for Real Assets

Notes From the Field By James Hickman (Simon Black / Sovereign Man)  May 7, 2026

Mark Zuckerberg had his hands full last week trying to calm the storm at his company.

In an employee conference call, he had to quell a great deal of panic over the company's performance.

Growth at Facebook/Meta is slowing, the stock price is down, and the company is dealing with significant regulatory and economic headwinds. And workers are unsettled.

So Zuckerberg took the mic and tried to assuage those concerns by explaining to everybody why ad revenue growth is slowing.

He said plainly, "If oil prices go up, then consumers spend more of their money on oil, on gas, and less on things that they would just buy that are kind of discretionary things that the advertising might serve."

Without really meaning to, Mark Zuckerberg made a really strong case for real assets.

It ultimately starts with energy costs. Energy costs are higher. And everyone wants to blame Iran and the Strait of Hormuz, but this trend has been building for a long time.

For years, oil was the second most hated asset on the planet, only edged out by coal.

Think about it— liberal elites hold conferences where they fly to dictator states in their private jets, only to parade oil and gas CEOs on stage and publicly shame them.

Then you have the legions of inspired idiots who glitter-bomb art and glue themselves to pavement to stop traffic (ironically increasing emissions), all in the name of "just stop oil."

They deface buildings and commit crimes, but they've been so successful that many oil companies themselves have turned their back on oil.

National governments, especially the previous Biden administration, have gone out of their way to tax, fleece, subvert, frustrate, and publicly ridicule oil companies.

Furthermore, the industry itself has been starved of capital because investors jumped on the bandwagon. Financial institutions stopped making loans, in some cases even debanking oil companies as a ridiculous form of virtue signaling.

Pension funds stopped investing in oil companies. Hedge funds tried to take over oil companies solely to turn them into fantasy green projects.

The dearth of capital— in a capital intensive industry— made it very difficult for exploration companies to finance new discoveries.

Even in the labor market, young people around the world have been so brainwashed that no one wants to go into the oil and gas sector— even though it pays quite well— for fear of public humiliation and "being on the wrong side of history."

To be frank, it's actually kind of extraordinary that an industry deprived of capital and labor, suffering an endless onslaught of media hysteria and political assault, has managed to continue delivering, day after day, the energy that our civilization requires to function.

Blaming today's higher oil prices exclusively on Iran totally misses this history; the problems have been building for years.

Solving this energy challenge will take a long time— to finance new projects, find new discoveries, build the right kinds of infrastructure, and commercialize those discoveries in a way that keeps up with the rising energy demands of a growing world.

In the meantime, higher energy prices increase the production cost of just about everything else— food, housing, automobiles, consumer goods, even your monthly electricity bill. So, in the end, most things become more expensive.

This is ultimately what Mark Zuckerberg was saying— without fully saying it. For years there was an abundance of energy and global cooperation. Combined with low interest rates, the result was negligible price inflation and a feeling of widespread prosperity.

That feeling of prosperity meant consumers had plenty of disposable income for the sorts of things advertisers would sell on platforms like Facebook and Instagram.

As Zuckerberg explained, those same retail-focused companies are now selling to consumers and individuals who have less disposable income— precisely because they have to spend more money on essentials like energy and food.

We've been predicting this for the last several years, and we think this trend will continue for some time.

This is why a very sensible place to consider investing, even if just as a hedge against rising prices, is in the companies that produce these critical resources.

This is the core of our investment ethos, and to be frank, it has been very successful.

We've seen our mining stocks multiply by as much as ten times, with several others doubling, tripling, and quadrupling.

But it goes beyond mining; one agricultural company has doubled, and a fertilizer producer is up double digits in just a few months. We've been collecting dividends from industrial producers while their stocks tick higher.

Only a few companies we have researched are down, and we think they still have plenty of upside.

And we are still finding some really great real-asset businesses that are surprisingly, deeply undervalued. That includes energy companies.

There are a lot of reasons for high quality businesses being undervalued; but I think it's because people believe this is some sort of aberration— that tomorrow the spigots turn on and oil drops back to $40 a barrel.

The reality is all these challenges can be solved, but it's going to take a while. And in the meantime, we think these real-asset companies are going to be cash machines.

Keep an eye on your inbox tomorrow afternoon for the new issue of Strategic Assets about an interesting company that has the potential to capture this mismatch in expectations versus reality.

To your freedom,    James Hickman     Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/investing/mark-zuckerberg-makes-a-strong-case-for-real-assets-155119/?inf_contact_key=fefeb1c8a501339946844ef3952b0663dcd31c885f4ab1b34be5363d83ed1062

Venezuela’s Oil Future at a Crossroads

TNT:

Tishwash: Venezuela’s Oil Future at a Crossroads

Despite the green shoots of economic stabilization, Venezuela’s energy sector investment environment must evolve from a negative protection framework to a positive model for recovery. Two of the most significant blocking actions in US history — Executive Orders 13303 (Iraq) and 13884 (Venezuela) — both sought to protect oil revenues from creditor attack.

However, they were built for entirely different purposes. Understanding those differences is essential for shifting Venezuela from a defensive sanctions architecture toward the legal and financial framework needed for reconstruction.  

Venezuela sits on the world’s largest proven oil reserves, more than Saudi Arabia, more than Iraq. On paper, it should be one of the wealthiest countries in the Western Hemisphere. In practice, it has witnessed one of the most dramatic economic collapses of the modern era — and understanding why matters for what comes next.

From Resource Wealth to Systemic Collapse

At its peak in 1998, Venezuela pumped nearly 3.5 million barrels per day of oil. By late 2025, that figure had fallen to around 800,000 b/d, less than 1% of global production. The decline was not geological. Venezuela’s reserves are largely intact, buried beneath the Orinoco Belt in the form of ultraheavy crude.

The collapse was political and institutional. Mismanagement, stringent US sanctions and Venezuela’s lost access to international markets have undermined the country’s extraordinary natural endowments.

The human cost has been staggering. Venezuela’s GDP fell by an estimated 75%-80% between 2012 and 2020, a contraction of a scale that usually only occurs during major wars. The ensuing humanitarian crisis drove nearly eight million Venezuelans to leave the country from 2019 onward.

Oil is not just Venezuela’s main export. It accounts for between 50% and 60% of government revenues and up to 20% of GDP. Salaries, social programs and hospital projects flow from it. Which is precisely why what happens to that revenue stream, legally and financially, is not a technocratic deal. It is the central question of whether Venezuela recovers at all. The US is now invested in this recovery.

On Jan. 3 this year, US forces captured President Nicolas Maduro in an operation that killed at least 80 people, triggering the most consequential political transition Venezuela has seen in a generation. Washington moved quickly to assert control over oil proceeds, while Maduro’s successor, President Delcy Rodriguez, has overhauled the country’s energy sector with major pro-investment reforms.

What legal framework governs those revenues, and who they are protected from, is precisely what this analysis addresses.

Immunization Versus Escrow: The Legal Divide

Following a successful invasion, the US signed Executive Order 13303 in May 2003. This intervention achieved something legally remarkable: it placed Iraq’s entire petroleum revenue stream beyond the reach of courts, creditors and enforcement actions.

The order was sweeping by design. It immunized not just oil flows, but all proceeds derived from them, shielding the Development Fund for Iraq from judgement execution. An entire coalition of international actors, not just Washington, had decided that Iraq’s reconstruction finances should be untouchable.

That structure was not accidental. Its drafters had watched the Argentina debt crisis unfold in real time. They had seen how NML Capital and other holdout creditors used US courts to obtain injunctions that paralyzed Buenos Aries’ ability to pay even its restructured bondholders — the infamous “pari passu” trap that Judge Griesa would later formalize.

EO 13303, and the statutory authority underpinning it in the Emergency Wartime Supplemental Appropriations Act, was written specifically to foreclose that possibility. The language of “shall not be subject to judicial process, or judgement” that surrounded the act was a direct answer to the hostile fund litigation playbook. In simple terms, Iraq’s oil revenues were beyond creditor reach.

Venezuela’s situation under Executive Order 13884, signed in 2019, is structurally different, and to grasp both what the US-Venezuela economic relationship can offer and where its current limits lie, it is paramount to understand how it differs from the Iraqi model.

EO 13884 blocked Venezuelan government property within the US’s jurisdiction and restricted dealings with PDVSA. Revenues from assets like Citgo were diverted into restricted custody accounts accessible only with Office of Foreign Assets Control (Ofac) authorization. Those funds were frozen, but not immune.

The key legal distinction is between immunization and blocking. Unlike under EO 13303, Section 1, where a creditor cannot touch the property and the sovereign can deploy it under international oversight, EO 13884, Section 1(a), blocks the property. Meaning neither the creditor nor the sovereign can access it without US permission.

Venezuela’s revenues were placed in a form of controlled escrow under political duress. Bondholders pursuing PDVSA claims and arbitration award holders alike retained the ability to pursue their cases through US courts and international tribunals. EO 13884 brought benefits but did not eliminate pressure.

This distinction reflects the divergent policy objectives of the two orders. EO 13303 served as an enabling instrument, with reconstruction, coordinated debt restructuring through the Paris Club and the stabilization of post-conflict Iraq being the primary goals.

EO 13884 had more of a coercive purpose, including sanctions, pressure and regime-change leverage. A framework designed to constrain a government cannot simultaneously serve as a legal safe harbor for that government’s assets.

The political context has now shifted dramatically, and in ways that make the Iraq comparison more urgent, not less. The removal of Maduro in January transformed Venezuela’s political and financial landscape. Venezuelan sovereign bonds surged nearly 30%, and the creditor community signaled readiness to engage in restructuring talks.

Washington’s response to the transition validates the core legal argument of this analysis. Rather than moving toward the immunization model, the Trump administration formalized and extended the escrow architecture. US President Donald Trump announced that Venezuelan oil would be marketed and sold by the US, with proceeds deposited into US-controlled accounts, with a wave of new Ofac General Licenses following through.

Reconstruction Hinges on Creditor Protection

However, sanctions relief and higher oil output will not translate into durable stabilization without a credible strategy for the legacy debt. Creditors retain live claims against Venezuelan oil proceeds, meaning that the NML versus Argentina trap remains open.

One notable structural parallel between the current Venezuela framework and postwar Iraq is apparent — US-mandated custody of oil revenues mirrors Iraq’s centralized, monitored control of proceeds.

Such escrow mechanisms can enhance transparency and reduce off-books creditor repayments during restructuring. Nonetheless, escrow alone does not create a true legal safe harbor. The US remains the single most decisive external actor given that much of Venezuela’s debt is governed by New York law, Ofac control of access to the financial system and Citgo assets being tied up in US courts.

Turning Venezuelan oil revenues from creditor targets into a foundation for recovery would require Washington to move beyond blocking assets and toward actively protecting them. The legal architecture for such a shift exists as a historical template. Whether Washington chooses to deploy it is the central question of Venezuela’s reconstruction moment.  link

Seeds of Wisdom RV and Economics Updates Thursday Afternoon 5-7-26

Good Afternoon Dinar Recaps,

Trump–Xi Summit Raises Stakes: Trade, Taiwan, and Iran Tensions Shape Global Power Balance

The upcoming Beijing summit between Donald Trump and Xi Jinping could influence trade flows, energy markets, and geopolitical stability across the global financial system

As Washington and Beijing seek limited cooperation amid rising rivalry, global markets are closely watching whether diplomacy can prevent deeper economic fragmentation.

 OVERVIEW (KEY POINTS)

President Donald Trump is scheduled to meet Chinese President Xi Jinping in Beijing next week in what could become one of the most consequential diplomatic meetings of the year.

The summit comes amid mounting tensions involving trade disputes, technology restrictions, Taiwan, and the ongoing Iran conflict, all of which are placing pressure on the world’s two largest economies.

Key players include the United States, China, Taiwan, and Gulf-region energy markets, with discussions expected to focus heavily on trade stabilization and strategic competition.

The broader implication is significant: the outcome of the summit could influence global trade flows, energy security, supply chains, and investor confidence during a fragile economic period.

KEY DEVELOPMENTS

1. Trade Deals Expected to Dominate Discussions

Economic stability remains a top priority.

• Talks include potential Chinese purchases of U.S. agriculture, energy, and aircraft

• Proposed trade mechanisms aim to reduce pressure on sensitive supply chains

2. Technology Restrictions Continue to Divide Both Sides

Semiconductor tensions remain unresolved.

• China pushing for reduced U.S. export restrictions on advanced chips

• U.S. pressuring China over rare earth mineral export controls

3. Iran Conflict Adds Strategic Pressure

Energy security has become central.

• U.S. urging China to support efforts to reopen the Strait of Hormuz

• China concerned over disruptions to Gulf-region oil supplies

4. Taiwan Emerges as Most Sensitive Issue

Diplomatic language could carry major consequences.

• Beijing seeking stronger U.S. wording opposing Taiwan independence

• Even minor policy shifts could impact regional security perceptions

5. Markets Watching for Stability Signals

Investors seeking signs of reduced confrontation.

• Businesses hoping for progress on trade and supply chain certainty

• Markets reacting cautiously to summit expectations

 WHY IT MATTERS

This summit matters because the relationship between the United States and China now shapes nearly every aspect of the global financial system, from trade and technology to energy and security.

Even limited agreements could reduce uncertainty and stabilize markets temporarily, especially as global supply chains remain vulnerable to geopolitical disruption.

For policymakers, the challenge is balancing competition with cooperation while avoiding actions that could trigger economic fragmentation or military escalation.

At the system level, this reflects the broader transition toward a multipolar world order where economic and geopolitical power is increasingly divided.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Currency markets may react sharply to summit outcomes

• Trade agreements could stabilize global exchange flows

• Energy security concerns may influence inflation and purchasing power

• Safe-haven demand for the U.S. dollar may fluctuate with geopolitical risk

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1: Multipolar Economic Realignment

The summit highlights how global finance is shifting away from a single dominant economic framework toward a more competitive multipolar structure.

• Pillar 2: Strategic Supply Chains Become Financial Weapons

Technology controls, rare earth minerals, and energy routes are increasingly being used as tools of geopolitical leverage.

 CONCLUSION

The Trump–Xi summit represents more than a diplomatic meeting—it is a test of whether the world’s two largest powers can manage competition without destabilizing the global economy.

While major breakthroughs remain unlikely, even limited cooperation could ease pressure on trade, energy markets, and investor sentiment.

However, the deeper structural tensions surrounding Taiwan, technology, and geopolitical influence remain unresolved.

As global power becomes more divided, diplomacy itself is becoming a critical pillar of financial stability.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Modern Diplomacy — "Trump Xi Summit Set to Test US China Relations on Trade Taiwan and Iran"

• Reuters — "U.S. and China prepare for high-stakes summit amid trade and geopolitical tensions"

~~~~~~~~~~

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Iraq Economic News and Points To Ponder Thursday Afternoon 5-7-26

Iran war day 69: Tehran ‘reviewing’ US proposals; Israel bombs Beirut

News|US-Israel war on Iran    By Elizabeth Melimopoulos and AFP  Published On 7 May 2026 

Trump says US-Iran talks are progressing as Tehran reviews a US proposal delivered through Pakistan.

United States President Donald Trump has said the US has held “very good talks” with Iran and suggested a deal to end the conflict could be within reach, as Tehran says it is still reviewing a US proposal delivered through mediator Pakistan.

Iran’s Foreign Ministry spokesman, Esmaeil Baghaei, said the proposal remains “under review” and that Tehran will communicate its response once it has “finalised its views”.

The diplomatic push comes amid continuing regional tensions, with uncertainty remaining over whether the negotiations can produce a breakthrough after weeks of military escalation and political threats between Washington and Tehran.

Meanwhile, Israel has expanded its military campaign by bombing Beirut in the first strike on the Lebanese capital since a ceasefire, widely seen as fragile, came into force on April 17.

Here is what we know:

In Iran

• Iran reviewing US proposal: Iran’s Foreign Ministry spokesman Baghaei said a US proposal to end the war is still “under review” by Tehran. Iran will convey its views to key mediator Pakistan after “finalising its views”, Baghaei told the ISNA news agency.

• Iranian speaker mocks US operations: Iran’s Parliament Speaker Mohammad Bagher Ghalibaf ridiculed recent military operations against Tehran, joking on social media that “Operation Trust Me Bro failed” and that Washington had now returned to “Operation Fauxios”.

War Diplomacy

• Iran seeks China’s help: Tehran is looking forward to China’s support for a “new post-war” regional framework following its conflict with the US, said Iranian Foreign Minister Abbas Araghchi in a post on X.

• Pakistan PM ‘hopeful’: Pakistan’s Prime Minister Shehbaz Sharif, a key mediator between Iran, the US and Israel, said he was “hopeful” the current momentum of negotiations would lead to peace in the region.

• Trump pushes for fast Iran deal: Trump is aiming to secure an agreement with Iran before the end of his upcoming trip to China, as negotiators work through a reported 14-point framework via Pakistani mediators. Reporting from Washington, DC, Al Jazeera’s Kimberly Halkett says the compressed timeline suggests the White House believes a breakthrough may be close, while also allowing Trump to project momentum before a high-profile foreign visit.

In the Gulf

• US warplane disables Iranian tanker: The US military says a Navy fighter jet fired on and disabled the rudder of an Iranian-flagged oil tanker in the Gulf of Oman after the vessel allegedly tried to breach Washington’s blockade of Iranian ports.

In the US

• Trump predicts quick end to war: Trump says the conflict with Iran “will be over quickly” as Washington pushes for a deal over Tehran’s nuclear programme and the Strait of Hormuz blockade. Speaking to supporters, Trump said the US “cannot allow” Iran to obtain a nuclear weapon, according to the Reuters news agency.

• US threatens escalation: Trump threatened to resume bombing in Iran if it did not agree to a deal. “If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” Trump said in a social media post.

In Israel

• Sirens sound in northern Israel: Israel’s military says it intercepted a “suspicious aerial target” launched from Lebanon after warning sirens sounded across northern Israel.

In Lebanon

• Lebanon ceasefire under strain: Israeli forces are carrying out daily air strikes deeper inside Lebanon despite a US-brokered ceasefire, signalling a widening of the conflict beyond the country’s south.

• Hezbollah steps up attacks: Hezbollah says its fighters carried out 17 targeted strikes against Israeli forces inside Lebanese territory, accusing Israel of repeatedly violating the ceasefire.

Global economy

Hormuz closure hits global shipping: German shipping giant Hapag-Lloyd says the closure of the Strait of Hormuz is costing it about $60m a week in fuel and insurance, as companies avoid the waterway over fears of Iranian attacks and potential sanctions linked to IRGC-controlled transit procedures.

China banks urged to halt refinery loans: Beijing’s financial regulator has reportedly advised major Chinese banks to pause new loans to five oil refineries sanctioned by the US over alleged links to Iranian oil, according to Bloomberg News.

https://www.aljazeera.com/news/2026/5/7/iran-war-day-69-tehran-reviewing-us-proposals-israel-bombs-beirut

States Should Tax Windfall Oil Profits to Fund Their Way Out of Crisis

Opinion  Renewable Energy  By Ketan Joshi

The Iran war is triggering a major economic crisis that is boosting energy profits. Taxing those can help countries survive and become immune to energy shocks.

The last fossil fuel crisis caused incredible amounts of pain for the people of Europe. In 2022, after Russia invaded Ukraine, gas prices skyrocketed, resulting in the costs of energy rising to cripplingly high levels. Every European Union citizen overpaying for their fossil gas and power sent 150 euros ($175) to the United States per year, according to a recent report by the Centre for Research on Energy and Clean Air (CREA).

That pain meant unprecedented profits for fossil fuel companies. In 2023, the world’s oil and gas industry earned a whopping $2.7 trillion, and invested just 4 percent of its capital expenditure in clean energy.

These crises are moments of extreme injustice. Not only are people paying a price for fossil fuel use through the immediate climate impacts, but they are now suffering through increasingly frequent price crises where meals are skipped, jobs are lost, and lights are turned off. This public dip in conditions and cost of living runs parallel to an upwards swing for fossil fuel companies’ blood profits.

The least governments can do at this moment is impose a windfall tax on energy companies and use the proceeds to cushion the blow to households and fund an energy transition.

As was the case in 2022, the resurgence of fossil fuel company mega-profits we are seeing now has come about as the direct consequence of bloody conflict. In late February, the US and Israel attacked Iran. The conflict soon spread across the region. By now, more than 3,000 Iranians have been killed, including more than 150 schoolgirls and teachers at a school that was hit. More than 2,000 Lebanese people have also been killed, as well as 23 Israelis and dozens of people across the Gulf region.

The closure of the Strait of Hormuz is triggering a global upwards shift in oil and gas prices. Recently released reports for the first quarter of the year, which includes the first month of the war, already show windfall profits for energy companies.

Last week, BP announced “stronger than expected” earnings of $3.2bn, far higher than the projected $2.63bn. Shares in the company rose 2.5 percent on the morning of the announcement. TotalEnergies also reported a 29 percent jump in first-quarter earnings to $5.4bn. ExxonMobil’s Q1 earnings were lower, but that is because some profits from sales in March will be reflected in the report for the second quarter of the year.

With analysts projecting a spike in oil prices even if the Strait of Hormuz is opened soon, these windfall profits are set to continue. A recent analysis from Oxfam International found that fossil fuel companies are projected to earn $3,000 a second in 2026.

This is the natural consequence of a global energy system dependent on the extraction and transport of a critical fuel through narrow, vulnerable chokepoints. But it is also very much an outcome of greed and the profit motive.

Fossil fuel companies have acted over the decades to ensure that humanity remains trapped in this system. This goes back to the efforts to deny climate change and attack alternatives as far back as the 1980s. It also relates to efforts to manufacture demand for their products by lobbying governments and pushing for investment in industries that are heavily dependent on fossil fuels.

As energy think tank Ember recently explored, previous fossil fuel crises have ultimately failed to decouple the world from this fundamentally vulnerable and unreliable system. But this time, wind, solar, energy storage and electric vehicles are significantly cheaper, even compared to 2022’s fossil fuel crisis.

Ember correctly highlights that there is no default destiny here, and that “the temptation will be to reach for the familiar playbook – more drilling, more subsidies, more supply diversification”. But temptation can be resisted.

Short-term sugar hits from cutting fossil fuel taxes only end up transferring even more money from ordinary people to the powerful, and those knee-jerk policy responses should be replaced with targeted relief for those who need it most.

Fossil fuel companies should, at the absolute bare minimum, be hit with windfall taxes, and that money should be shared with the most vulnerable in the form of social support for impoverished households. They should also be channelled to countries hit hardest by climate change. Such support would essentially act as reparations paid by high-level polluters for those suffering irreversible damage.

Windfall tax revenues should also be used to fund the transition away from fossil fuels in order to make countries more immune to energy shocks. Governments should introduce bold and urgent oil demand elimination programmes focused on public and active transport, and the incentivisation of small cars. New policies that help the most vulnerable citizens, such as Australia’s daytime cheap solar power scheme, should be urgently implemented.

We cannot survive in this system. Hooking humanity on a fuel that becomes more profitable for companies when there is more bloodshed and conflict is a guaranteed recipe for more suffering in every way imaginable.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.

https://www.aljazeera.com/opinions/2026/5/5/states-should-tax-windfall-oil-profits-to-fund-their-way-out-of-the-crisis

New Fed Chair's Plan to Cancel America's Debt

New Fed Chair's Plan to Cancel America's Debt

Jamie Dimon Mindset:  5-7-2026

The social media version of this story describes a secret plan by the new Fed chair to wipe out America's debt — that framing is inaccurate, but the underlying reality it points to is more consequential than the headline suggests.

There is no secret: financial repression is a historically documented policy tool that the United States used deliberately for nearly three decades after World War II, reducing its debt-to-GDP ratio from 106 percent to 23 percent without a single default, without dramatic austerity, and without most Americans understanding that the transfer was happening to their savings until the process was substantially complete.

The mechanism is precise — keep the interest rate paid on government debt below the rate of inflation, and the real value of the debt quietly erodes year after year, transferred silently from savers and bondholders to the government that issued the debt.

 In this analysis, I explain exactly how the mechanism works, why the political system has no viable alternative to some version of it, what the critical difference is between 1946 and today that makes the current version potentially more disorderly, and why central banks purchasing over a thousand tons of gold in 2025 are the most honest available signal about where this is heading.

https://www.youtube.com/watch?v=Ux0lXsevzAA

Seeds of Wisdom RV and Economics Updates Thursday Morning 5-7-26

Good Morning Dinar Recaps,

Global Debt, Energy Risks, and Dollar Pressures Intensify Reset Concerns

Rising sovereign debt and shifting investor behavior are exposing cracks in the foundations of the global financial system.

 Overview

New economic developments today reveal a growing convergence of record global debt, energy-driven market instability, and changing investor confidence in U.S. assets. While markets remain resilient on the surface, underlying indicators suggest mounting systemic pressure that could accelerate long-term changes in global finance.

Key Developments

1. Global Debt Climbs to Nearly $353 Trillion

The Institute of International Finance reported that global debt reached a record $353 trillion in the first quarter of 2026, driven heavily by borrowing in the United States and China. Debt now stands at roughly 305% of global GDP, reinforcing concerns about long-term sustainability.

2. Foreign Demand for U.S. Debt Shows Signs of Weakening

International investors are increasingly favoring European and Japanese bonds over U.S. Treasuries, signaling a gradual shift in global capital allocation. While there is no immediate threat to the dollar’s reserve status, the trend reflects growing caution toward U.S. fiscal conditions.

3. Oil Market Volatility Continues to Pressure Global Stability

Markets rallied today on optimism surrounding a possible U.S.–Iran peace agreement, helping oil prices retreat from recent highs. However, uncertainty surrounding the Strait of Hormuz and future energy supply disruptions continues to create instability across inflation expectations and global trade.

4. IMF Warns of Long-Term Financial Fragility

The IMF continues to warn that prolonged geopolitical conflict and elevated oil prices could push the global economy toward slower growth, tighter liquidity conditions, and increased financial instability. Funding markets, sovereign debt levels, and private credit exposure remain key vulnerabilities.

 Why It Matters

The combination of record debt expansion, weakening confidence in traditional financial anchors, and persistent energy instability suggests a global system operating under increasing strain. Historically, such conditions often precede monetary restructuring, policy shifts, or changes in reserve asset behavior.

Why It Matters to Foreign Currency Holders

• Greater potential for currency volatility and reserve diversification

• Increasing focus on commodity-backed and regional trade systems

• Continued pressure on countries with high external debt exposure

Implications for the Global Reset

• Pillar 1: Debt Sustainability Crisis

As debt burdens continue climbing, governments and central banks may face pressure to implement new liquidity measures, restructuring programs, or fiscal realignment policies.

• Pillar 2: Slow Shift Away From Dollar Dependence

While the dollar remains dominant, investor movement into alternative markets and currencies reflects a gradual diversification of global financial trust and reserve allocation.

Closing Insight

Financial markets may appear stable today, but the deeper trends point toward a system increasingly dependent on debt expansion, fragile energy flows, and central bank intervention. These pressures are steadily reshaping the architecture of global finance.

This is not just market volatility — it’s a warning that the global financial system is being forced into transition.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "Global debt hits record of near $353 trillion" 

• Reuters — "Stocks trade around record highs, oil falls on peace optimism"

~~~~~~~~~~

 🌱 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

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Iraq Economic News and Points To Ponder Thursday Morning 5-7-26

Iraq Occupies A Central Position On The Map Of Global Economic Powers.

Money and Business    Economy News – Baghdad A recent report released on Thursday by the US-based economic data and analytics platform Visual Capitalist, based on International Monetary Fund forecasts, shows that the global economy is projected to reach approximately $126 trillion by 2026, with global output continuing to be concentrated in a limited number of major economies.

According to the platform's report, which was followed by "Al-Eqtisad News," the United States, China, Germany, and Japan lead the global economic scene, as these four countries together account for nearly half of the global GDP, while the United States alone accounts for nearly a quarter of the global economy.

The report indicated that Iraq ranks 56th globally with a GDP estimated at about $265 billion, representing about 0.2% of the global economy, which places it among the relatively medium to low economies worldwide.

He explained that Iraq is among the group of economies that exceed the threshold of hundreds of billions of dollars, along with countries such as Nigeria, Kazakhstan and Portugal, indicating that it possesses large economic resources, especially in the energy sector, but it is still far from the levels of economic diversification and productivity achieved by major industrial economies.

The report added that global economic growth is gradually shifting towards Asia, led by India and Indonesia, at a time when major economies such as Germany and Japan are facing relatively weak growth rates.

He indicated that India is poised to strengthen its position as an emerging economic power in the coming years, with expectations of growth rates exceeding 6%, which could contribute to redrawing the map of the global economy in the medium term.

Conversely, the report noted the continued widening gap between major economies and the rest of the world, with Middle Eastern countries, including Iraq, remaining in a position of flux between structural challenges and opportunities related to energy markets and future economic diversification potential. https://www.economy-news.net/content.php?id=68789

Oil Rebounds From Two-Week Lows On Uncertain Peace Outlook

2026-05-07  Shafaq News   Oil prices rose over $1 on Thursday, rebounding from the previous day's sharp losses, as investors weighed ‌the prospects of a Middle East peace deal succeeding.

Brent crude futures were up 78 cents, or 0.8%, at $102.05 a barrel at 0400 GMT. U.S. West Texas Intermediate gained 76 cents, or 0.8%, to $95.84 a barrel.

Both benchmarks slumped more than 7% on Wednesday, hitting two-week lows on optimism over a possible end to the Middle East war. ​They pared losses, however, after U.S. President Donald Trump said it was "too soon" for face-to-face talks with Tehran and a senior ​Iranian lawmaker said the U.S. proposal was more of a wish list than a reality.

"While peace negotiations are ⁠likely to continue at least until next week's U.S.-China summit, the outlook beyond that remains uncertain," said Hiroyuki Kikukawa, chief ​strategist of Nissan Securities Investment, a unit of Nissan Securities.

Trump and Chinese President Xi Jinping are scheduled to meet next week.

"The main scenario ​is that oil prices will remain elevated," Kikukawa said.

Iran said on Wednesday it was reviewing a U.S. peace proposal that sources said would formally end the war while leaving unresolved the key U.S. demands that Iran suspend its nuclear program and reopen the Strait of Hormuz.

An Iranian foreign ministry spokesperson ​cited by Iran's ISNA news agency said Tehran would convey its response. Trump said he believed Iran wanted an agreement.

A Pakistan ​mediation source and another person briefed on the talks said an agreement was close on a one-page memorandum that would formally end the conflict.

U.S. ‌media outlet ⁠Axios reported that the U.S. expects Iranian responses on several key points in the next 48 hours, citing sources saying this is the closest the parties had come to an agreement since the war began.

"From a broader perspective, oil markets have remained stuck between diplomacy and disruption for more than two months, with investors' emotions being manipulated by headlines almost daily," said Priyanka Sachdeva, senior ​market analyst at Phillip Nova.

"If ​a formal deal eventually materialises, ⁠oil prices could witness a free fall as geopolitical premiums rapidly evaporate from the market. However, any fresh signs of attacks on oil infrastructure or escalation in the Middle East could easily ​trigger another parabolic spike in crude prices."

Even if a peace deal is reached, oil supplies ​are expected to tighten ⁠further in coming weeks because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide - so oil companies will continue to deplete storage tanks to meet peak summer demand.

U.S. crude and fuel inventories continued to decline last week ⁠as countries ​sought to offset supply disruptions caused by the Iran crisis, the Energy Information ​Administration said on Wednesday.

Crude stocks fell by 2.3 million barrels to 457.2 million barrels last week, compared with analyst expectations in a Reuters poll for a ​3.3 million-barrel draw.

(REUTERS)    https://www.shafaq.com/en/Economy/Oil-rebounds-from-two-week-lows-on-uncertain-peace-outlook

Finance Committee: Regularizing Contracts Does Not Increase The Burden Of Salaries Or The Budget In Any Way.

Money and Business   Economy News – Baghdad   The parliamentary finance committee announced on Thursday that it has prepared a comprehensive study to regularize contracts without financial burdens on the treasury, while noting that there is a near-final agreement to convert daily wages into ministerial contracts.

Committee member Uday Awad said, according to the official agency, that "there is a study prepared to stabilize the contracts and this does not cost the treasury any financial burdens."

He explained that “employees’ salaries amount to more than 7 trillion dinars,” indicating that “adding contracts does not increase the burden of salaries or the budget at all, because the matter is limited to changing the job title from contract to permanent staff, and there are some additions in a number of departments that can be dealt with through transfer between spending categories.”

Regarding the daily wage, Awad stated that "the daily wage will be converted into a ministerial contract, especially for those who were appointed after 2019, as there is a near-agreement to convert them into ministerial contracts."

The member of the Finance Committee continued, "Financial security is stable, but sending the budget from the new government will provide the legal basis for borrowing, as well as increasing non-oil revenues and addressing the issue of non-oil revenues with the Kurdistan Region."https://www.economy-news.net/content.php?id=68788

Iraq Is Among The Top Destinations For Turkish Exports, With Strong Growth Last Month.

Money and Business   Economy News – Baghdad   Iraq was among the key markets that supported the growth of Turkish exports during April 2026, at a time when the Mediterranean Exporters Associations in Turkey announced strong results in a number of regional and international markets.

The head of the associations, Faisal Mameesh, said in a statement followed by “Al-Eqtisad News”, that the value of their exports reached $1.65 billion during last April, an increase of 27% compared to the same period last year.

He noted that export performance witnessed clear momentum in the Italian and German markets, while strong growth was also observed in the Iraqi markets, in addition to the Romanian, Spanish and Egyptian markets.

Mameesh explained that this increase was driven by increased exports of iron, minerals, chemicals, fruits, vegetables, grains, legumes and oilseeds, which are commodities that are in growing demand in the Iraqi market.

The inclusion of Iraq among the fastest growing markets reflects the continued expansion of trade between Baghdad and Ankara, especially given the Iraqi market's reliance on foreign imports to secure some food, construction materials, and industrial goods.

Turkish associations also expect this export momentum to continue in the coming months, aiming to achieve annual growth exceeding 10% by the end of the year. https://www.economy-news.net/content.php?id=68790

FIFA Responds To Accusations Of "Extortion" In Ticket Pricing For The 2026 World Cup

Money and Business   Economy News – Baghdad   Gianni Infantino defended the pricing policy for World Cup 2026 tickets, asserting that FIFA operates in accordance with special local laws in the United States that allow for the resale of tickets at prices higher than their original value.

FIFA faced widespread criticism, with the European Football Supporters' Organization describing ticket prices as "extortionate" and filing a formal complaint with the European Commission objecting to what it considered excessive pricing.

The controversy intensified after offers to resell tickets for the tournament final, scheduled to be held in New York, circulated at prices exceeding two million dollars per ticket, a shocking figure compared to the official price.

But Infantino stressed that these figures do not reflect the original price, but rather the resale market, adding that the price increase is related to the large demand for the tournament.

When comparing prices, the difference becomes clear:

2022 World Cup Final in Qatar: Official maximum ticket price around $1600

2026 Final: Up to approximately $11,000 official maximum

Infantino believes this increase is "justified" given the development of the entertainment industry globally.

The FIFA president explained that selling tickets at low prices would simply lead to them being resold at higher prices, arguing that the market determines the true value, not just the organizing body.

He also noted that FIFA received more than 500 million ticket requests, a record number that far exceeds the demand for previous editions, which explains the significant increase in prices.

Nevertheless, Infantino confirmed that about 25% of the group stage tickets were offered for less than $300, noting that this price remains competitive compared to the prices of major sporting events in the United States.

https://www.economy-news.net/content.php?id=68748