Saturday Iraq News Posted by Tishwash at TNT 6-13-2026

TNT:

Tishwash:  Government: World Bank delegation arrives in Baghdad next week to prepare program budget

 Iraqi government spokesman Haider al-Aboudi revealed on Friday (June 12, 2026) that a delegation from the World Bank will arrive in Baghdad next week to complete the requirements for preparing the program budget, enabling Iraq to move towards adopting a budget capable of facing current and future economic challenges.

Al-Aboudi told Baghdad Today that “next week will witness the arrival of a delegation from the World Bank to complete the requirements for preparing a program budget through which Iraq can proceed with preparing a program budget that can meet the challenges,” indicating that “Prime Minister Ali Falih Al-Zaidi places the economic aspect among his top priorities.”

He added, "The World Bank delegation will work with the Ministry of Finance on economic reforms based on sound constitutional principles that address many sectors such as industry, agriculture, education, and others. Since the government took office after gaining the confidence of Parliament, the focus has been on empowering state institutions to improve their work."

He pointed out that "the government and the Prime Minister's vision is to support the Financial and Economic Council in order to work on building a financial and economic system to face current and future challenges."

Over the past years, the Iraqi economy has faced multiple challenges, most notably fluctuations in oil prices, the expansion of operational spending, and pressures to provide job opportunities and improve services, which has prompted government agencies to search for more effective financial and administrative tools to control economic performance.  link

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Tishwash:  46% non-oil: An ambitious goal for restructuring Iraq's finances

 The advisor to the Prime Minister for Financial and Economic Affairs, Mazhar Muhammad Saleh, affirmed that the government program represents an integrated strategic framework for achieving financial and economic diversification, and aims to reduce dependence on oil by enhancing non-oil revenues and expanding the productive base of the national economy.

Saleh added in a special statement to “ Al-Jarida ” that these trends fall within the “Iraq 2050” vision, which is based on reforming public finances and consolidating the principles of a social market economy, in order to achieve a balance between the developmental role of the state and the effectiveness of the market and the private sector, and to establish a long-term structural transformation in the Iraqi economy.

He explained that the vision requires an integrated reform and legislative framework that establishes the foundations of sustainability, efficiency and flexibility in fiscal policy, noting that one of its most prominent goals is to raise the contribution of non-oil revenues to the general budget to no less than 46% of total revenues by 2050, which will enhance financial sustainability and reduce the impact of fluctuations in global oil markets.

He pointed out that the government plan also aims to increase the private sector’s contribution to GDP compared to current levels, reflecting the Iraqi economy’s shift to a model that relies more on investment, individual initiative, job creation, and stimulating sustainable growth.

Saleh explained that achieving these goals will be through activating the national strategy for developing the private sector, and implementing institutional, legislative and regulatory reforms that contribute to improving the business environment, enhancing competitiveness and expanding the base of local and foreign investment.

He stressed that the Market Development Council will play a pivotal role in regulating market institutions according to the principles of governance, transparency and efficiency, creating an attractive investment environment, as well as supporting private sector-led projects in the manufacturing, agriculture, logistics and digital economy sectors.

He concluded by saying that this approach aims to build integration between reforming the financial sector and developing the productive sectors, which will contribute to reducing the rentier nature of the Iraqi economy and establishing a development model based on productivity, competitiveness and partnership between the state and the private sector, leading to building a diversified and sustainable economy that achieves prosperity by 2050.  link

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Tishwash:  Despite financial reform efforts, Iraqis still hold billions of dinars outside of banks.

 Reforming the banking sector represents one of the most prominent economic challenges facing Iraq at the present stage, given the need to build a financial system capable of supporting development, stimulating investment, and enhancing trust between citizens and banking institutions.

Despite the expansion of loan and credit programs over the past years, challenges related to oversight, governance, transparency, and limited reliance on digital technologies continue to hinder the achievement of the desired goals.

Experts have confirmed that the success of any banking reform requires moving from traditional treatments to a modern system that relies on digitization, effective supervision, and the development of the legislative and credit infrastructure to ensure the sustainability of financing and reduce risks. Economic expert Ahmed Al-Tamimi believes that this success depends on adopting a comprehensive reform program that is not limited to administrative procedures, but extends to modernizing the legislative, supervisory, and technological infrastructure of both government and private banks.

Al-Tamimi told Baghdad Today on Friday (June 12, 2026) that “the crisis of advances and loans granted to citizens is not only related to the size of the available funding, but also to the mechanisms for granting loans, following up on them, and evaluating the creditworthiness of borrowers. Addressing this crisis requires the establishment of unified databases for borrowers and the development of a modern credit rating system that reduces cases of default and ensures that funding is directed to those who are eligible and able to repay.”

He explained that “achieving fairness in lending and controlling banking liquidity requires adopting clear and transparent standards in granting loans, away from interventions and mediations, with the need to expand the base of financial inclusion and increase reliance on official banking instruments instead of cash trading outside the banking system, which contributes to enhancing financial stability and raising the efficiency of liquidity management.”

He added that "weak financial oversight during the past years has contributed to the rise in default rates in some loans and advances, as a result of inadequate follow-up and auditing procedures and the absence of early warning systems for credit risks. Strengthening the role of regulatory bodies and activating governance and compliance within banks represent a fundamental pillar to reduce these problems."

He added that “the shift towards digital banking systems has become an urgent necessity, not an option, as digital technologies, electronic payment systems, electronic archiving, and digital loan application and follow-up platforms can reduce opportunities for corruption and bureaucratic red tape, speed up the completion of transactions, raise the level of transparency, as well as enable regulatory bodies to track financial operations more accurately and efficiently.”

Al-Tamimi stressed that “reforming the Iraqi banking sector is achievable if it is coupled with political will, professional management, and serious investment in technology and oversight, because building a modern and reliable banking sector is one of the most important conditions for revitalizing the economy, attracting investments, and achieving sustainable development in Iraq.”

For years, the Iraqi banking sector has suffered from accumulated challenges related to weak financial inclusion, widespread reliance on cash transactions, and limited digital banking services compared to global standards.

Banks also face challenges related to loan and advance management, borrower follow-up, and creditworthiness assessment, in addition to the need to update control, compliance, and governance systems.

In recent years, the government has moved towards adopting financial and banking reform programs aimed at expanding the use of electronic payment, promoting digitalization, and improving the investment environment, amid increasing calls from experts to link banking reforms with modern technology and effective supervision to ensure the building of a more efficient financial sector capable of supporting the national economy.   link

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Tishwash:  Cash versus digitalization: Will Iraq succeed in its financial transformation?

Economic experts believe that reforming the Iraqi banking sector and accelerating the shift towards electronic payments are two essential pillars for addressing many of the financial and economic challenges facing the country, from the loan and advance crisis to enhancing transparency, combating corruption, and stimulating investment.

Economic researcher Ahmed Al-Tamimi affirms that the success of any banking reform process requires a comprehensive program that is not limited to traditional administrative procedures, but extends to modernizing the legislative, regulatory and technological structure of government and private banks.

Al-Tamimi explained that the loan and credit crisis is not only related to the amount of money available for lending, but also to the mechanisms for granting financing, monitoring borrowers, and assessing their creditworthiness.

He pointed out that addressing this crisis requires the creation of unified databases for borrowers and the development of a modern credit rating system that contributes to reducing default rates and ensuring that financing reaches eligible borrowers who are able to repay.

Controlling liquidity and promoting financial inclusion

He added that achieving fairness in granting loans requires adopting clear and transparent standards, free from interference and mediation, while expanding the base of financial inclusion and increasing reliance on official banking instruments instead of cash transactions outside the banking system.

He explained that this transformation contributes to enhancing financial stability and improving liquidity management within the banking sector, as well as raising the efficiency of the financial performance of economic institutions.

He also pointed out that weak oversight in recent years has contributed to higher default rates on some loans due to inadequate auditing and follow-up procedures and the absence of early warning systems for credit risks.

He stressed that strengthening governance and activating control and compliance tools within banks are essential steps to reduce these problems and improve the quality of banking services.

Electronic payment is an economic necessity.

For his part, economic researcher Sadiq Al-Azraqi believes that the shift towards electronic payment is no longer just a technical option or a modern means of payment, but has become an economic and administrative necessity imposed by the nature of the modern economy and the requirements of transparency and financial stability.

He explained that the Iraqi economy still relies heavily on cash liquidity stored outside the banking system, which limits the state’s ability to monitor the movement of funds and manage economic activity efficiently.

He added that expanding the use of electronic payment tools would bring a large portion of circulating funds into the formal economic cycle, which would help regulate financial activity and reduce the risks of money laundering and tax evasion.

He pointed out that electronic systems also reduce the costs associated with cash management, including transportation, protection, manual inventory and counterfeiting risks, as well as making it easier for citizens to access various banking services such as loans, savings and investment.

Challenges of digital transformation

Despite the significant benefits expected, Al-Azraqi emphasizes that digital transformation still faces a number of challenges in Iraq, most notably the lack of confidence in the banking sector as a result of accumulated crises and past experiences, in addition to problems related to the stability of electricity and internet services.

He also noted that small and medium-sized business owners have concerns that electronic payment methods could become a means of pursuing them for tax purposes or imposing additional financial burdens on them.

He added that Iraqi society still tends to deal with direct criticism, which constitutes a cultural barrier that needs time and extensive awareness programs to overcome.

Combating corruption and promoting transparency

Al-Azraqi believes that one of the most important gains of digital transformation is the reduction of financial and administrative corruption, because electronic transactions leave a digital trace that can be tracked and reviewed, unlike cash transactions which are difficult to monitor.

He explained that the digital economy provides the state with a huge database that helps it understand consumption patterns, manage markets, predict supply crises, and monitor prices more accurately.

He added that the success of this transformation requires simultaneous administrative and legislative reforms, as well as providing incentives that encourage citizens and business owners to use electronic payment methods. link

Seeds of Wisdom RV and Economics Updates Saturday Afternoon 6-13-26

Good Afternoon Dinar Recaps,

Xi’s Pyongyang Visit Signals Rising Eurasian Alignment as China, Russia, and North Korea Deepen Strategic Ties

Chinese President Xi Jinping’s first visit to North Korea in seven years highlights growing cooperation among China, Russia, and North Korea as geopolitical tensions accelerate the emergence of a more multipolar world order.

 Overview

• Xi Jinping's visit to Pyongyang underscores China's commitment to strengthening ties with North Korea amid rising global geopolitical tensions.

• The visit comes as North Korea and Russia continue expanding military, economic, and diplomatic cooperation linked to the Ukraine conflict and Western sanctions.

• Analysts increasingly view the strengthening China-Russia-North Korea relationship as part of a broader shift toward a multipolar global system challenging traditional Western influence.

Key Developments

1. Xi Visits North Korea After Seven-Year Gap

President Xi Jinping's visit marks the highest-level engagement between Beijing and Pyongyang in years. The summit reaffirmed the longstanding strategic partnership between the two countries while emphasizing economic cooperation and regional stability.

2. China Remains North Korea's Economic Lifeline

Despite North Korea's growing relationship with Russia, China continues to be Pyongyang's dominant trading partner. Bilateral trade has reportedly climbed to its highest level in nearly a decade, highlighting North Korea's continued economic dependence on Beijing.

3. Russia-North Korea Ties Continue Expanding

North Korea's military and logistical support for Russia during the Ukraine conflict has significantly strengthened Moscow-Pyongyang relations. Increased trade, military cooperation, and diplomatic engagement have elevated Russia's influence within the region.

4. Focus Shifts Away from Denuclearization

Notably absent from the summit discussions was any major emphasis on North Korea's nuclear program. Observers view this as a reflection of shifting geopolitical priorities as China, Russia, and North Korea focus more heavily on strategic alignment against Western pressure.

5. Multipolar Institutions Gain Momentum

The visit reinforces growing cooperation among countries seeking alternatives to Western-led political and economic structures. The broader alignment among China, Russia, North Korea, and other emerging powers continues to reshape global diplomatic and economic relationships.

Why It Matters

The significance of Xi's visit extends beyond Northeast Asia. It reflects a broader geopolitical trend where nations facing sanctions, trade restrictions, or strategic competition with the West are strengthening regional partnerships and building alternative economic relationships.

As global power becomes increasingly distributed among multiple centers of influence, alliances based on shared strategic interests are becoming more important than traditional ideological divisions.

Why It Matters to Foreign Currency Holders

For those monitoring long-term shifts in the global monetary system, the strengthening China-Russia-North Korea relationship highlights the continued movement toward de-dollarization, regional trade networks, and alternative payment mechanisms.

While the U.S. dollar remains the dominant reserve currency, growing economic cooperation among Eurasian powers supports efforts to expand the use of national currencies and reduce dependence on Western-controlled financial infrastructure.

Implications for the Global Reset

• Pillar 1: Trade

Expanding economic cooperation across Eurasia continues to create alternative trade corridors and reduce reliance on traditional Western-centered supply chains.

• Pillar 2: Assets

The accumulation of strategic resources, energy partnerships, and industrial cooperation strengthens the economic foundation of emerging multipolar alliances.

• Pillar 3: Technology

Alternative financial systems, payment networks, and technological cooperation are increasingly becoming central to geopolitical competition.

The growing alignment between China, Russia, and North Korea demonstrates that the global economy is evolving toward a more decentralized structure where regional blocs play a larger role in trade, finance, and geopolitical decision-making.

This is not just politics — it’s global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Modern Diplomacy — "The Pyongyang Diaries: Xi’s North Korea Visit and the North Korea/Russia Axis"

• Reuters — "North Korea Will Not Retreat From Nuclear Status, Kim Jong Un's Sister Says"

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History of Recessions in the United States

History of Recessions in the United States

Causes, Length, GDP, and Unemployment Rates for Every U.S. Recession

By  Kimberly Amadeo   Updated on July 9, 2024

There have been 19 noteworthy recessions throughout U.S. history. The National Bureau of Economic Research determines when a recession starts and ends, and the Bureau of Economic Analysis measures the gross domestic product (GDP) that defines recessions. The Bureau of Labor Statistics reports on the unemployment rate.

Unemployment often peaks after a recession ends because it's a lagging economic indicator. Most employers wait until they're sure the economy is back on its feet again before hiring permanent employees.

Key Takeaways

• The nation's first recession resulted from land speculation in 1797 when the First Bank of the United States and U.S. Treasury Secretary Alexander Hamilton expanded the money supply.

• The Great Depression that lasted from 1929 through 1938 was actually two of the worst recessions America has ever experienced occurring back to back.

• Two recessions also occurred back to back in 1980 through 1982, aggravated by the Iranian oil embargo.

• America averages a recession about once every six years.

Early Major Recessions

The hallmark of these four early recessions is that the federal government could do little to stop them. Their harshness and unpredictability led to support for a national central bank.

1797: The Panic of 1797 resulted from land speculation. The First Bank of the United States and U.S. Treasury Secretary Alexander Hamilton expanded the money supply, leading to the boom and bust.1

1857: Embezzlement at the Ohio Life Insurance and Trust Company's New York branch triggered a panic. Investors lost faith in paper money when a ship carrying gold to New York sank en route. Businesses couldn't make their payrolls and commerce ground to a halt.2

1873: The construction of the national railway system created speculation that led to the collapse of the largest U.S. bank. The recession lasted until 1879.3

1893: The Reading Railroad failed, leading to other railway failures and a stock market crash. Banks suspended cash payments, leading to the hoarding of cash and bank failures.4

20th Century Recessions

There were 12 recessions in the 20th century. The Great Depression was technically two of the nation's worst recessions occurring back to back.

1907

The "Panic of 1907" lasted from May 1907 to June 1908. It was caused by speculators' losses that spread to trust companies. These firms acted like banks but they had lower reserves. Congress created the Federal Reserve System to prevent future collapses.56

1929 to 1938 (The Great Depression)

The biggest economic crisis in U.S. history was two closely related recessions.78 The first downturn was from August 1929 to March 1933, with a record 12.9% contraction in 1932.9 The second downturn lasted from May 1937 to June 1938. Unemployment reached 24.9% in 1933 and remained in the double digits until WWII began.10

Chart  LINK  

Several factors combined to create the Great Depression. The Fed raised interest rates in the spring of 1928 and continued despite the recession. The 1929 stock market crash destroyed businesses and life savings. A 10-year drought in the Midwest created the Dust Bowl that devastated farmers.11

The New Deal ended the first recession, boosting growth by 10.8%.12 The second recession ended when the drought did, and the government increased spending for World War II.13

1945

This recession lasted eight months, from February to October. It was a natural result of the demobilization of World War II.1415

1949

This 11-month recession began in November 1948 and lasted until October 1949 when unemployment peaked at 7.9%.1416 It was caused by the Fed raising interest rates too quickly.15

Chart LINK    

1953

This recession lasted 10 months from July 1953 to May 1954.14 It resulted from tightened monetary policy following the Korean War.17 Unemployment didn't reach its peak of 6.1% until September 1954, four months after the recession ended. GDP contracted by 2.2% in the third quarter of 1953 and by 5.9% in the fourth quarter. It contracted by 1.9% in the first quarter of 1954.1819

1957

This recession took place from August 1957 to April 1958.14 GDP fell 4.1% in the fourth quarter of 1957, then it contracted to a low of 10.0% in the first quarter of 1958.20 Unemployment didn't reach its peak of 7.5% until July 1958.21 The Fed's contractionary monetary policy caused this economic slowdown.22

1960

Starting in April 1960, this recession lasted 10 months until February 1961.14 GDP was -2.1% in the second quarter of 1960, then it rose by 2.0% in the third quarter but it was down by 5.0% in the fourth quarter.19 Unemployment reached a peak of 7.1% in May 1961.23

Note

President John F. Kennedy ended the 1960 recession with stimulus spending.24 His opponent, Richard Nixon, blamed the recession for costing him the election.25

TO CONTINUE TO READ MORE:  https://www.thebalancemoney.com/the-history-of-recessions-in-the-united-states-3306011

MilitiaMan & CREW IRAQ DINAR UPDATE-"From Foundation to Execution: Iraq’s Big Convergence Is Underway"-Reality

MilitiaMan & CREW IRAQ DINAR UPDATE-"From Foundation to Execution: Iraq’s Big Convergence Is Underway"-Reality

6-12-2026

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=0TZPv4KgUtk

Iraq Economic News and Points To Ponder Saturday Morning 6-13-26

Basrah Crudes Post Weekly Losses

2026-06-13   Shafaq News- Basrah   Iraq’s Basrah crude lost more than 18% over the past week, as major global benchmarks weakened.

Basrah Heavy crude dropped by $2.68 in its final trading session to $58.14 per barrel, down 4.41% on the day and recording a weekly loss of $11.14, or 19.16%. Basrah Medium crude slipped by $2.68 to close at $60.24 per barrel, falling 4.26% in its last session and posting a weekly loss of $11.14, or 18.49%.

Globally, Brent crude decreased by $3.05 to $87.33 per barrel, a decline of 3.37%, while US West Texas Intermediate crude shed $2.83 to settle at $84.88 per barrel, down 3.23%.

UAE Murban crude retreated 4.85% to $83.02 per barrel, while Russia’s Urals crude fell 5.61% to $78.39. US Mars crude also lost 5.58% of its value. https://www.shafaq.com/en/Economy/Basrah-crudes-post-weekly-losses-3

USD/IQD Exchange Rates Climb In Baghdad, Erbil

2026-06-13   Shafaq News- Baghdad/ Erbil   The US dollar opened Saturday's trading higher in Iraq, hovering around 155,000 dinars per 100 dollars in Baghdad and Erbil.

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya central exchanges at 154,750 dinars per 100 dollars, up from 154,600 dinars recorded on Thursday.

In the Iraqi capital, exchange shops sold the dollar at 155,250 dinars per 100 dollars and bought it at 154,250 dinars.

In Erbil, the dollar was selling at 155,000 dinars per 100 dollars and buying at 154,900 dinars.

https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-climb-in-Baghdad-Erbil-7-2

Gold Prices Rise In Baghdad, Erbil Markets

2026-06-13 Shafaq News- Baghdad/ Erbil   On Saturday, gold prices hovered around 910,000 IQD per mithqal in Baghdad and Erbil markets, continuing their upward trend, according to Shafaq News market survey.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 917,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 913,000 IQD. The same gold had sold for 892,000 IQD on Thursday.

The selling price for 21-carat Iraqi gold stood at 887,000 IQD, with a buying price of 883,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 920,000 and 930,000 IQD, while Iraqi gold sold for between 890,000 and 900,000 IQD.

In Erbil, 22-Carat Gold Was Sold At 940,000 IQD Per Mithqal, 21-Carat Gold At 897,000 IQD, And 18-Carat Gold At 768,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-Erbil-markets-3-3

Germany Backs Iraq's Tourism Development Efforts

2026-06-13 Shafaq   News- Baghdad   Germany's development agency GIZ and Iraqi officials on Saturday discussed ways to support the country's tourism sector as part of broader efforts to diversify the economy beyond oil.

The discussions took place during a workshop organized by the Private Sector Development Council and GIZ, where the German agency said it is working with Iraqi institutions through the Economic Transformation Enhancement (SET) project, funded by the German government, to support economic reforms, strengthen private-sector growth, and promote sustainable development.

Read more: 150,000 archaeological sites, 556 tourists: Iraq's oil economy explains the gap

Participants also reviewed opportunities in religious tourism, hospitality, travel services, and tourism investment.

Read more: Faith and finances: Religious tourism fuels Iraq’s economy

https://www.shafaq.com/en/Economy/Germany-backs-Iraq-s-tourism-development-efforts

Iran: Trump Agreed To Unfreeze $24B In Assets

2026-06-13 Shafaq News- Tehran   Mohsen Rezaee, a senior adviser to Iran's Supreme Leader Mojtaba Khamenei, said on Saturday that US President Donald Trump had approved the release of $24 billion in frozen Iranian assets, amid conflicting accounts from Washington and Tehran over the terms of a reported peace agreement.

Cited by Iran's Fars News Agency, Rezaee added that Trump did not want to announce the decision publicly.

On Friday, Pakistani Prime Minister Shehbaz Sharif revealed that the United States and Iran had reached a final text for a deal, describing it as closer to implementation than at any point since negotiations began.

Iran's Mehr News Agency subsequently published a 14-point draft memorandum that includes the release of the funds during a 60-day negotiation period, with half reportedly to be made available before talks begin.

In Washington, Vice President JD Vance said no funds would be released to Iran in exchange for signing an agreement or attending a meeting, adding that any economic benefits would depend on Tehran fulfilling its commitments.

A senior US administration official also told Shafaq News that no Iranian assets would be released before Iran meets its obligations, describing the proposed arrangement as an implementation-first framework.

https://www.shafaq.com/en/Middle-East/Iran-Trump-agreed-to-unfreeze-24B-in-assets

PMF Vows Strict Allegiance To Iraqi Constitution

2026-06-13    Shafaq News- Baghdad   The Popular Mobilization Forces (PMF) remains committed to Iraq's constitution, and is prepared to operate under the authority of the Armed Forces Commander-in-Chief, Prime Minister Ali al-Zaidi, PMF head Faleh al-Fayyadh noted on Saturday.

Marking the 11th anniversary of Grand Ayatollah Ali al-Sistani's fatwa, which contributed to the formation of the PMF —a predominantly Shiite umbrella force incorporated into the Iraqi state in 2016— al-Fayyadh described the religious edict as the moment that "helped save Iraq from the existential threat posed by ISIS."

The fatwa, issued on June 13, 2014, came days after ISIS captured Mosul and overran large parts of northern and western Iraq, triggering one of the country's gravest security crises in recent decades.

"The PMF has evolved into a national force representing Iraq's diverse communities," he added, reaffirming the group's commitment to strengthening its administrative, organizational, training, and technical capabilities while continuing efforts to improve its institutional performance.

Read more: Iraq to place armed factions' weapons under state control: What we know so far

https://www.shafaq.com/en/Iraq/PMF-vows-strict-allegiance-to-Iraqi-constitution

Seeds of Wisdom RV and Economics Updates Saturday Morning 6-13-26

Good Morning Dinar Recaps,

CLARITY Act Moves Closer to Senate Vote as White House Hosts Key Crypto Policy Meeting

White House officials, lawmakers, and major law enforcement organizations met this week to discuss the CLARITY Act, signaling growing momentum behind legislation that could establish a comprehensive regulatory framework for digital assets in the United States.

 Overview

• A White House-hosted meeting brought together lawmakers, administration officials, and law enforcement groups to discuss the CLARITY Act and cryptocurrency regulation.

• Discussions focused heavily on the Blockchain Regulatory Certainty Act (BRCA), a key provision designed to protect blockchain developers and infrastructure providers.

• The meeting highlighted the importance of securing bipartisan support ahead of a potential Senate floor vote before the August recess.

Key Developments

1. White House Hosts High-Level Crypto Policy Meeting

The meeting was hosted by the White House Crypto Council and included administration officials, congressional staff, law enforcement representatives, and lawmakers actively involved in digital asset legislation. Participants discussed both regulatory clarity and enforcement challenges surrounding cryptocurrency markets.

2. Blockchain Regulatory Certainty Act Takes Center Stage

Much of the discussion focused on the Blockchain Regulatory Certainty Act (BRCA), which seeks to clarify that developers and operators of decentralized blockchain infrastructure should not be treated as traditional financial intermediaries.

3. Law Enforcement Input Seen as Critical

Representatives from major law enforcement organizations, including police associations and prosecutors' groups, participated in discussions regarding crypto crime reporting, compliance standards, and enforcement tools. Their support could influence undecided lawmakers.

4. Bipartisan Support Remains Essential

While Republican lawmakers generally support the legislation, the bill will require support from several Democratic senators to advance. Reports indicate that gaining acceptance from moderate Democrats could be one of the final hurdles before a floor vote.

5. Senate Vote Could Arrive Before August Recess

Supporters of the legislation, including Senator Cynthia Lummis, continue to push for a Senate floor vote before lawmakers leave Washington for the August recess. Industry groups view the coming weeks as a critical window for passage.

  Why It Matters

The CLARITY Act represents one of the most significant efforts to establish a comprehensive regulatory framework for digital assets in the United States. For years, uncertainty surrounding jurisdiction between regulators has created compliance challenges for businesses, investors, and blockchain developers.

Supporters argue that regulatory clarity could encourage innovation, investment, and job creation while keeping digital asset development within the United States rather than pushing projects offshore.

Why It Matters to Foreign Currency Holders

Digital asset regulation is increasingly becoming part of the broader evolution of the global financial system. As governments establish legal frameworks for blockchain-based assets, they are laying the groundwork for future tokenized financial markets, digital payments, and next-generation settlement systems.

For those monitoring potential changes to the international monetary system, the CLARITY Act reflects how major economies are preparing legal infrastructure for an increasingly digital financial environment.

Implications for the Global Reset

• Pillar 1: Technology

The legislation advances the integration of blockchain technology into regulated financial markets, potentially accelerating adoption of tokenized assets and digital infrastructure.

• Pillar 2: Assets

Clear regulations could encourage greater institutional participation in digital assets, expanding their role within the broader financial ecosystem.

• Pillar 3: Trade and Finance

A defined regulatory framework may strengthen America's position in shaping future digital payment networks, cross-border transactions, and financial innovation standards.

The debate surrounding the CLARITY Act extends beyond cryptocurrency regulation. It reflects a broader competition among nations to establish leadership in the next generation of global financial infrastructure.

This is not just politics — it’s global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• CoinGape — "CLARITY Act: White House Meeting Reveals Key To Senate Floor Vote"

• Congress.gov — "Digital Asset Market Clarity Act of 2025"

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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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What Is the Ideal GDP Growth Rate?

What Is the Ideal GDP Growth Rate?

The ideal growth rate is not too hot, not to cold, but just right

By   Kimberly Amadeo  Updated on January 26, 2023

A healthy gross domestic product (GDP) growth rate sustains the economy in the expansion phase of the business cycle for as long as possible. GDP is the total market value of the goods and services produced within a country in a year.

The GDP growth rate is how much more the economy produced than in the previous quarter.

Key Takeaways

• The ideal GDP growth rate is between 2% and 3%.

• The GDP growth rate was 2.9% for the fourth quarter of 2022, compared to the third quarter's 3.2% rise.1

• The GDP growth rate measures how healthy the economy is. When the number is positive, the economy is growing. When the number is negative, the economy is contracting.

Why a Healthy Rate of GDP Growth Matters to You

Growth, unemployment, and inflation are in balance in a healthy economy. Most economists agree the ideal GDP growth rate is between 2% and 3%.2

Many politicians think more growth is always better. A healthy GDP growth rate is like a body temperature of 98.6 degrees. You know you're sick if your temperature is lower than ideal. You may be near death if it's too low. A higher temperature can also mean you're sick. If it's over 100 degrees, you have a fever. If it's above 104 degrees for any period, you may be seriously ill.

Note

If the economy grows too slowly or even contracts, it's not healthy. On the other hand, if it grows too rapidly, that's not ideal either.

An asset bubble may be forming if GDP growth starts spiking above 4% for several years, as it did between 1996 and 1999.3 The economy begins to overheat when it grows too fast. An overheating economy is unsustainable because it can't meet the demands of consumers, businesses, and the government.

The natural unemployment rate falls. Prices for everything from paper towels to stocks go up. The economy quickly begins to contract. A recession becomes likely unless action is taken to bring everything back to a slowly increasing growth rate.

Note

The Federal Reserve, the nation's central bank, uses monetary policy to influence inflation and economic activity.

The Federal Reserve raises the federal funds rate target range to raise interest rates if the economy expands too fast. when the economy is shrinking (or 'contracting), the Fed lowers the rate. Using this and other monetary policy tools, it tries to keep an inflation rate of 2% over the longer run.4 This helps to manage GDP growth at the same time. If inflation rises too quickly, consumers spend more because their money will be worth less in the future.

The following chart visualizes the difference between a healthy growth rate and rates that are too high or too low. It features quarterly statistics from 1995 to 2021, showing how recessions followed dangerously high growth rates. The exception was the recession in 2020, which was caused by a pandemic.  LINK

Historical GDP Growth Rates

During 1999 and 2000, U.S. inflation was between 2.2% and 3.4%.5 While these rates are ideal according to the Federal Reserve, the Fed didn't start targeting long-term inflation until 2012.6

In between the 2001 recession and the 2008 recession, the annual economic growth rate was healthy:7

• 2003: 2.8%

• 2004: 3.9%

• 2005: 3.5%

• 2006: 2.8%

• 2007: 2.0%

Between 2003 and 2005, inflation was between 2.3% and 3.4%. The economy grew 4.5% in the first quarter of 2005 and 5.5% in the first quarter of 2006. An asset bubble began to grow in the housing market by the end of 2006.8

Note

Once a bubble bursts, the economy enters the contraction phase of the business cycle.

GDP growth tends to decline and go into negative territory in an economic contraction. This can indicate that the economy is in trouble. If the shrinkage continues for more than two quarters in a row, it indicates a recession might be brewing.

During the 2008 recession, GDP growth rates were abysmal. The troubles in housing had spread to the investors in mortgage-backed securities, as the financial crisis infected the rest of the economy:

• Q1 2008: -1.6%

• Q2 2008: 2.3%

• Q3 2008: -2.1%

• Q4 2008: -8.5%

The American Recovery and Reinvestment Act (ARRA) spurred the economy back into health in March 2009. The first two quarters of 2009 were still negative before ARRAA began to affect the economy. Growth rates returned to positive territory in the third quarter:

• Q1 2009: -4.6%

• Q2 2009: -0.7%

• Q3 2009: 1.5%

• Q4 2009: 4.3%

Growth rates in each quarter of 2010 remained positive, between 2.0% and 3.9%. The economy contracted in the first and third quarters of 2011. High foreclosures from the subprime mortgage crisis were preventing the housing market from recovering.

Can GDP Alone Tell Us If the Economy Is Healthy?

GDP growth is one of the most used metrics economists follow to decide whether a national economy is operating smoothly, but it is only one of the many metrics used to gauge a healthy economy. If only GDP and its growth are considered, then the economy is doing well if they are positive or only negative for a short time.

However, economists consider other metrics for a full view of the economy. Some of these are the unemployment rate, consumer price index, the purchasing manager's index, and others.

Here are the quarterly growth rates for 2021 and the previous five years:  LINK

TO CONTINUE TO READ MORE:   https://www.thebalancemoney.com/what-is-the-ideal-gdp-growth-rate-3306017

Seeds of Wisdom RV and Economics Updates Friday Afternoon 6-12-26

Good Afternoon Dinar Recaps,

The Geopolitics of Critical Minerals: The New Resource Race Reshaping the Global Economy

As the world transitions toward green energy and a multipolar economic order, critical minerals have become strategic assets at the center of global competition, raising questions about sovereignty, supply chains, and the future balance of economic power.

 Overview

• Critical minerals such as lithium, copper, rare earths, and antimony have become essential to the global energy transition and advanced technologies.

• Major powers are increasingly competing for access to these resources as they seek to secure supply chains independent of geopolitical rivals.

• The growing battle over mineral resources is accelerating economic realignment and contributing to the emergence of a multipolar global economy.

Key Developments

1. Critical Minerals Become Strategic Assets

The shift toward electric vehicles, renewable energy systems, battery storage, and advanced defense technologies has dramatically increased demand for critical minerals. Governments increasingly view access to these resources as a national security issue rather than simply an economic concern.

2. China Maintains Dominance in Processing

While many nations possess mineral reserves, China continues to dominate the global processing and refining infrastructure for many critical minerals. This position gives Beijing significant influence over supply chains that support both civilian and military industries worldwide.

3. Nations Seek Alternative Supply Networks

The United States, Europe, and regional partners are actively searching for new sources of critical minerals and alternative processing capabilities. Resource-rich countries are becoming increasingly important players in global geopolitical negotiations as major powers seek secure long-term access to raw materials.

4. Resource Security Becomes Part of Economic Sovereignty

The debate is no longer limited to energy independence. Policymakers increasingly view mineral ownership, refining capacity, and supply chain control as essential components of national economic sovereignty and long-term strategic resilience.

5. Multipolar Trade Networks Continue to Expand

The competition for critical minerals is contributing to broader efforts to build alternative trade corridors, payment systems, and economic partnerships outside traditional Western-dominated structures. These developments are reinforcing the trend toward a more decentralized global economic order.

Why It Matters

The global economy is entering a new phase where control of strategic resources may become as important as control of financial capital. Countries capable of securing mineral supplies and developing domestic processing capabilities will likely gain competitive advantages in emerging industries.

At the same time, growing competition for resources is reshaping international alliances, trade relationships, and investment flows. The struggle for critical minerals is becoming one of the defining economic and geopolitical themes of the coming decade.

Why It Matters to Foreign Currency Holders

For those following potential currency realignments and global monetary changes, the race for critical minerals highlights a broader shift toward asset-backed economic strength. Nations with strategic resources, manufacturing capacity, and energy independence may strengthen their economic positions as global supply chains evolve.

As countries seek to reduce external dependencies and build regional economic blocs, resource ownership could increasingly influence future trade settlements, reserve management strategies, and long-term currency stability.

Implications for the Global Reset

• Pillar 1: Assets

Critical minerals are emerging as strategic hard assets that underpin future industrial growth, technological advancement, and national competitiveness.

• Pillar 2: Trade

New supply chain alliances and resource partnerships are accelerating the restructuring of global trade networks and reducing dependence on traditional economic centers.

• Pillar 3: Technology

Control over mineral processing and refining capacity is becoming a crucial element of technological leadership in the digital and green energy economies.

The transition underway is not simply about renewable energy. It represents a broader competition over who will control the resources, infrastructure, and supply chains that power the next generation of the global economy.

This is not just politics — it’s global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Modern Diplomacy — "The Geopolitics of Critical Minerals: Competition for Resources in the Green Energy Transition"

• International Energy Agency (IEA) — "Global Supply Chains of EV Batteries and Critical Minerals"

~~~~~~~~~~

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Friday Iraq News Posted by Tishwash at TNT 6-12-2026

TNT:

Tishwash:  Minister of Finance: We are proceeding with preparing the program budget and modernizing banking systems.

Finance Minister Falih Sari affirmed on Friday the continuation of modernizing banking, tax and customs systems and developing mechanisms for preparing program budgets, while expressing Iraq's aspiration to benefit from Australian expertise to support development and diversify the economy.

The Ministry of Finance stated in a statement received by Al-Furat News that "the Minister of Finance received the Australian Ambassador to Iraq, Glenn Miles, to discuss ways to strengthen economic relations and expand cooperation in the financial and banking fields between the two countries."

According to the statement, Sari emphasized "the Ministry's keenness to develop sound international partnerships and benefit from Australian expertise in supporting sustainable development projects and diversifying the national economy."

He pointed out that "the ministry is proceeding with updating banking, tax and customs systems, and developing mechanisms for preparing program budgets, in order to enhance the efficiency of financial management and raise the level of institutional performance."

For his part, the Australian ambassador affirmed his country’s desire to strengthen joint cooperation and exchange experiences, in order to support economic reform efforts and the development of the financial sector in Iraq.  link

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Tishwash:  Al-Fahdawi: Iraq does not need Gulf loans and its economy is collapsing, but it will recover.

On Thursday, Muhammad al-Fahdawi, a leader in the Azm Alliance, revealed that the Gulf states refused to lend to Iraq due to the lack of political guarantees because of the tense situation in the region resulting from the war with Iran and the closure of the Strait of Hormuz. 

Al-Fahdawi told Al-Maalouma News Agency that “the weakness of the country’s financial management is behind its resorting to asking the Gulf states to support it financially, and all data indicates that the Iraqi economy will recover without the need to borrow from the Gulf states, which handed over the management of their countries’ affairs to the Trump administration, and that the economic crisis that the country is going through has not led to the collapse of its economy.” 

He added that "the Gulf states stipulated guarantees from Iraq in order to lend to it and provide financial support to rescue its economy, which is burdened with debt due to weak financial management and its inability to address the economic crisis in a well-thought-out manner, away from the improvisations that destroyed the country's economy."

He explained that "the lending process is difficult in light of the current circumstances in the region resulting from the Zionist-American aggression against Iran, the closure of the Strait of Hormuz, and the cessation of oil exports outside of Iraq."

He affirmed that "the Iraqi economy is not suffering from a major financial crisis domestically, but it is experiencing a shortage of liquidity," ruling out the collapse of the Iraqi economy in the current period.   link

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Tishwash:  Al-Tamimi: Competent economic advisors are the key to overcoming the financial crisis

Economic researcher Qasim Al-Tamimi explained on Thursday that the government needs high-level economic advisors to get Iraq out of its current crisis, after the decline in oil revenues due to the current situation in the region.

Al-Tamimi told Al-Maalomah, "Prime Minister Ali al-Zubaidi can overcome the current economic crisis in the country by finding highly specialized advisors, far removed from the traditional advisors who have served in successive governments without contributing anything to the Iraqi economy."
He added, "There is a pressing need for a group of economic advisors who can provide the new government with more solutions to overcome the current crisis.

Therefore, the economic situation in Iraq can be addressed, but it is somewhat difficult."
He explained that "Iraq is currently suffering from many economic problems due to the decline in oil revenues caused by the current regional crisis and the ongoing military escalation. This necessitates taking decisions that will save Iraq from its crisis without harming the living conditions of its citizens."  link

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

Tishwash:  Al-Zidi discusses investment opportunities and joint cooperation with Spain

Prime Minister Ali Faleh al-Zaidi discussed on Thursday (June 11, 2026) with the Ambassador of the Kingdom of Spain to Iraq, Alicia Rico Perez, ways to enhance investment opportunities and expand areas of joint cooperation between Baghdad and Madrid in various economic and development sectors.

The Prime Minister's Media Office stated in a statement received by "Baghdad Today" that "Prime Minister Ali Faleh Al-Zaidi received today the Ambassador of the Kingdom of Spain to Iraq, Alicia Rico Perez."

The statement added that "Perez conveyed the congratulations of Spanish Prime Minister Pedro Sanchez to Al-Zaidi on gaining the confidence of the House of Representatives and forming the new government, stressing her country's keenness to strengthen bilateral relations between Iraq and Spain and expand the prospects of joint cooperation in various fields."

During the meeting, the Prime Minister affirmed, according to the statement, "the depth of the distinguished relations that unite the two countries, and Iraq's readiness to develop and enhance them, especially in the economic, developmental and investment fields, in a way that serves the common interests of the two friendly peoples."

He added that "the Spanish ambassador praised the successes achieved by the Iraqi government in strengthening state sovereignty and restricting weapons to its own hands, stressing that these steps contribute to consolidating stability and improving the investment environment, and expressed the desire of Spanish companies to expand their presence and investments in Iraq and participate in the development opportunities that the country is witnessing."   link

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Tishwash:  Samsung opens its largest branch in Baghdad and launches exceptional offers.

Samsung has opened its largest smartphone branch in the Levant region inside "Iraq Mall" in the capital, Baghdad, in a move the company described as a historic milestone reflecting its confidence in the Iraqi market and its commitment to providing a direct global experience to consumers.

During the opening ceremony, the company confirmed that choosing Iraq to host the largest mobile phone exhibition in the region stems from its belief in the country’s economic potential and its desire to strengthen its presence and expand its services to the Iraqi user.

She explained that the choice of "Mall of Iraq" came as a result of its strategic location in the capital, Baghdad, and the modern and vibrant environment it provides, which is consistent with Samsung's identity as a leading company in the fields of technology and innovation.

Samsung indicated that the project will contribute to supporting the local economy by providing new job opportunities for Iraqi youth, as well as providing specialized training programs according to the latest global standards in the retail and technology sector, which will contribute to developing the professional skills of workers.

The new showroom offers visitors the opportunity to experience Samsung’s latest smartphones and wearable devices, learn about artificial intelligence technologies and modern features firsthand before purchasing, and receive technical advice from specialized and trained staff.

The branch also provides officially certified after-sales services, with direct warranties and guarantees from Samsung, as well as providing technical support and original spare parts, which enhances the Iraqi consumer's confidence in the products and services provided.

The company announced the launch of exceptional offers to mark the opening, stressing that the new branch represents the beginning of an ambitious expansion plan aimed at enhancing its presence in various Iraqi governorates and providing the latest technological innovations to users in conjunction with their global launch.

For his part, the regional director of Samsung Electronics Levant, Moataz Al-Aqrabawi, said that the opening of the showroom represents a fundamental turning point in the company’s strategy within Iraq, stressing that Samsung views the challenges as an incentive to continue developing and strengthening its commitment to the Iraqi consumer.

The largest mobile phone exhibition in the Levant

Al-Aqrabawi pointed out that the presence of the largest smartphone exhibition in the Levant region inside Iraq reflects the extent of the confidence that Samsung places in the Iraqi economy, and confirms its desire to provide a direct global experience for users without intermediaries.

He added that the choice of “Mall of Iraq” came after an extensive study of the location, as it represents a modern and advanced destination in the heart of the capital, Baghdad, and provides easy access for customers from different areas, in addition to its modern environment being in harmony with Samsung’s identity based on innovation and modern technologies.  link

Iraq Economic News and Points To Ponder Friday Morning 6-12-26

Finance Minister: We Look Forward To Benefiting From Australian Expertise To Support Development And Diversify The Economy.

Money and Business     Economy News – Baghdad   Finance Minister Faleh Sari received Australian Ambassador to Iraq Glenn Miles to discuss ways to strengthen economic relations and expand cooperation in the financial and banking sectors between the two countries.

 The minister stressed the ministry’s keenness to “develop solid international partnerships and benefit from Australian expertise in supporting sustainable development projects and diversifying the national economy, noting that the ministry is proceeding with modernizing banking, tax and customs systems, and developing mechanisms for preparing program budgets, in order to enhance the efficiency of financial management and raise the level of institutional performance.”

 For his part, the Australian ambassador affirmed his country’s desire to strengthen joint cooperation and exchange experiences, in order to support economic reform efforts and the development of the financial sector in Iraq.

https://www.economy-news.net/content.php?id=70148

The Dollar Stabilizes Thanks To Hopes Of A Middle East War End.

Money and Business   Economy News - Follow-up   The dollar recovered in early trading on Friday after falling to its lowest level in a week, as traders assessed news suggesting a possible agreement to end the war in the Middle East soon.

The US dollar rose 0.1% to 160.07 yen. The Australian dollar fell 0.1% to $0.7045, and its New Zealand counterpart also declined 0.1% to $0.5830.

The euro was last trading at $1.1576, near its highest level in a week, after the European Central Bank raised interest rates for the first time in three years on Thursday. Sterling was steady at $1.3414.

"Market sentiment shifted late in the U.S. session after President Trump called off planned attacks on Iran, suggesting a possible deal could be signed over the weekend," analysts from Westpac wrote in a note to clients.

Brent crude fell 1.6% to $88.94 a barrel as trading resumed in Asia, after President Donald Trump said on Thursday that the United States and Iran could sign a peace agreement early next week, which would reopen the Strait of Hormuz to shipping. Iran responded that it had not yet reached a final decision on the agreement.

https://www.economy-news.net/content.php?id=70135

Gold Is Heading For A Weekly Loss Amid Inflation Fears And Expectations Of An Interest Rate Hike.

Money and Business   Economy News — Follow-up   Gold prices fell on Friday, heading for a weekly loss under pressure from concerns about inflation and the possibility of a US interest rate hike.

By 0252 GMT, spot gold had fallen 0.5% to $4,191.17 per ounce, heading for a weekly loss of 3.2%. Meanwhile, U.S. gold futures for August delivery rose 2.4% to $4,212.70.

Gold fell to its lowest level in more than six months on Thursday before closing higher at $4,219.69, after US President Donald Trump called off planned military strikes against Iran and hinted at an imminent peace agreement.

https://www.economy-news.net/content.php?id=70134

Iran Responds To Trump: Oil And Gas Exports Will Either Be Open To Everyone Or To No One.

Energy   Economy News - Follow-up   In response to US threats to target Iranian oil infrastructure, the commander of the Khatam al-Anbiya headquarters in Iran asserted that "oil and gas exports will either be available to everyone or they will not be available to anyone."

Major General Ali Abdollahi said in statements carried by official Iranian media: “America talks about agreement and negotiation on one hand, and on the other hand engages in hostile acts. This clear contradiction between its words and actions is the main factor of insecurity in the region, which has endangered the security of international trade and the economy, and the security of countries, especially the Strait of Hormuz.”

Abdullahi added: “American officials, due to their lack of proper understanding of the proud and courageous nature of the Iranian people and their capable armed forces, continue to spin in a vicious cycle, and the repeated American lies are one of the most prominent signs of this.

They will never be able, through propaganda and media warfare, to compensate for the humiliation and successive defeats they have suffered in their confrontation with the Islamic Republic of Iran, or to hide their tendency to ignite wars.”

Abdullahi warned the United States against launching new attacks against Iran, stressing that it would receive a harsher response than before and that the flames of war would widen and spread, along with exacerbating the state of instability in the region.

He concluded by saying: “In light of the recent American threats against Iranian oil infrastructure, we declare that oil and gas exports will either be open to everyone, or they will be open to no one.”

US President Donald Trump threatened on Thursday that the United States would "hit Iran very hard again tonight" and that "at some point in the not-too-distant future, we will take over Kharg Island and other oil infrastructure points and take full control of the (Iranian) oil and gas markets," but he backed down from the plan to strike Iran later that same day "because discussions with the Islamic Republic of Iran have been raised to the highest levels of the Iranian leadership and have been approved."  https://www.economy-news.net/content.php?id=70149

The First Person In The World... Elon Musk's Wealth Exceeds One Trillion Dollars

Money and Business       Economy News - Follow-up   SpaceX, the space technology company owned by American businessman Elon Musk, announced on Friday that it had launched its shares on the global market at an initial price of $135 per share, raising approximately $75 billion.

SpaceX said it sold about 555.6 million shares at the offering price, giving the company a market value of about $1.77 trillion.

This valuation would make Musk the first person whose net worth exceeds $1 trillion, based on the value of his stakes in SpaceX and electric car manufacturer Tesla.

SpaceX’s financial results contrast sharply with its market value, highlighting investors’ expectations for future growth, as the company reported a net loss of nearly $5 billion last year on revenues of $18.67 billion.

Much of the spending has been directed toward developing the company's giant Starship rocket, and SpaceX's main source of revenue is its Starlink satellite internet business. The company has also promoted artificial intelligence and space-based data infrastructure as future growth opportunities.

Musk will retain control of SpaceX after the listing through shares that carry enhanced voting rights, leaving him with more than 80% of the voting power.

Unlike most initial public offerings, SpaceX set its own offering price in advance, whereas companies typically market shares within a price range and determine the final price based on investor demand.https://www.economy-news.net/content.php?id=70140   

Cross-Border Drug Operations Reach 65 Since 2023

2026-06-12 Shafaq News- Baghdad   Daily raids across Baghdad, provincial cities, and border crossings have netted tens of thousands of suspects and dozens of tons of controlled substances in 2026, as Iraqi security forces press “an open war” against narcotics networks, according to the General Directorate for Narcotics Affairs and Psychotropic Substances at the Interior Ministry.

Security Operations

The directorate's Media and Public Relations Director, Col. Abbas al-Bahadli, told Shafaq News that the campaign marks a structural turning point for Iraqi counter-narcotics efforts.

The directorate, he said, was previously composed of small units attached to police and intelligence services with limited capacity to confront the scale of the threat. The Interior Ministry has since expanded it into a standalone general directorate with a direct ministerial reporting line and a provincial field presence.

Operational strategy has also shifted, according to al-Bahadli. The directorate has moved from a containment phase to confrontation and pre-emptive operations, he said, adding that thousands of networks have been dismantled and the country's most significant traffickers arrested in recent years.

Iraqi forces have conducted approximately 65 operations outside Iraq since 2023, coordinated with regional and international partners, with the stated aim of intercepting shipments before they reach Iraqi territory. The operations target local dealers, major traffickers, and cross-border smuggling rings beyond Iraqi territory.

“The external operations are the ministry’s broader strategy to block narcotics at their source.”

Smuggling methods have also grown more sophisticated, including the use of airborne balloons to cross the border —a technique documented in a recent operation in western al-Anbar province, where authorities intercepted a consignment of more than 198,000 narcotic tablets.

Read more: The Smuggler's Almanac: Iraq's war against narco-innovation

Rehabilitation and Social Dimensions

Alongside the security operations, Iraq has established 16 rehabilitation centers offering psychological, medical, and social treatment for addicts, including three in Baghdad, al-Bahadli said. More than 7,270 individuals have completed treatment and reintegrated into society since 2023.

A policy change separating addicts from traffickers in the custodial system was also cited as a significant procedural reform; previously, addicts were held alongside dealers in the prison population.

Al-Bahadli also pointed to price movements in the narcotics market as evidence of operational impact: crystal methamphetamine prices have risen from approximately 10,000 dinars ($7.63) per gram to around 200,000 dinars ($152.6), a shift he attributed to reduced supply resulting from sustained security pressure on distribution networks.

“Youth are the primary target demographic of narcotics networks,” al-Bahadli warned, with individuals between 16 and 40 years of age most at risk. He described the pattern as a deliberate effort to drain the country of its productive human capital.

Read more: From cell to center: Iraq tests a new answer to addiction

https://www.shafaq.com/en/Security/Cross-Border-drug-operations-reach-65-since-2023

Seeds of Wisdom RV and Economics Updates Friday Morning 6-11-26

Good Morning Dinar Recaps,

Global Markets Rally as Iran Peace Hopes Drive Oil Prices Lower

Investor optimism surged across global markets after President Donald Trump indicated that a peace agreement with Iran could be finalized within days, fueling expectations of improved energy stability and easing inflation pressures worldwide.

 Overview

Global financial markets moved sharply higher after President Trump suggested that negotiations with Iran were progressing toward a potential peace agreement. The prospect of ending a three-month conflict in the Gulf boosted confidence among investors, sending stocks higher across Asia, Europe, and the United States.

At the same time, oil prices fell to their lowest levels in two months as traders anticipated reduced risks to energy supplies moving through the Strait of Hormuz, one of the world's most critical shipping corridors.

The market reaction highlights the growing connection between geopolitics, energy security, inflation trends, and the broader global financial system.

Key Developments

1. Global Stocks Advance on Peace Optimism

Equity markets across South Korea, Japan, Hong Kong, China, Europe, and the United States rallied as investors welcomed signs that diplomatic negotiations between Washington and Tehran may be nearing a breakthrough.

The shift toward risk assets reflected growing confidence that a prolonged disruption to global energy markets could be avoided.

2. Oil Prices Fall to Two-Month Lows

Crude oil prices declined sharply as traders reduced expectations of supply disruptions through the Strait of Hormuz.

Lower oil prices immediately eased concerns about energy shortages and reduced fears that inflation could accelerate further in major economies.

3. Investors Reassess Inflation Risks

The decline in energy prices has led many investors to lower expectations for additional interest rate increases by central banks.

Because energy costs impact transportation, manufacturing, food production, and consumer spending, falling oil prices are viewed as a positive development for inflation-sensitive sectors of the economy.

4. Safe-Haven Assets Retreat

As investor confidence improved, money flowed out of traditional safe-haven assets.

Bond yields moved lower, the U.S. dollar weakened, and capital shifted back toward equities and growth-oriented investments.

5. SpaceX IPO Adds to Market Excitement

Investors are also closely watching the historic public debut of SpaceX following reports of a record-breaking $75 billion offering.

The event has added another source of enthusiasm for markets already benefiting from improving geopolitical sentiment.

Why It Matters

The market rally demonstrates how quickly geopolitical developments can influence the global economy.

For months, uncertainty surrounding the Iran conflict contributed to higher energy prices, inflation concerns, and fears of slower economic growth. Even the possibility of a diplomatic resolution has significantly altered investor expectations.

The reaction also underscores the importance of the Strait of Hormuz, where disruptions can impact energy supplies, shipping costs, inflation, and economic stability around the world.

Why It Matters to Foreign Currency Holders

Foreign currency holders should closely watch developments because lower energy prices often reduce inflation pressures and can influence central bank policies worldwide.

A successful peace agreement could improve global trade flows, stabilize commodity markets, and reduce volatility in foreign exchange markets. At the same time, easing geopolitical tensions may lessen short-term demand for safe-haven currencies while supporting broader international trade and investment activity.

For those monitoring potential currency revaluations and global financial restructuring, energy stability remains one of the most important variables affecting international monetary systems.

Implications for the Global Reset

• Pillar 1: Energy Stability Supports Economic Rebalancing

A reopening and normalization of Gulf energy flows would reduce pressure on global supply chains and support economic stability.

• Pillar 2: Inflation Pressures Could Continue Easing

Lower oil prices may help central banks move closer to ending restrictive monetary policies, potentially improving financial conditions worldwide.

• Pillar 3: Multipolar Financial Trends Remain in Focus

Even if tensions ease, recent disruptions have accelerated discussions regarding alternative trade settlement systems, energy security strategies, and financial diversification among major global economies.

This is not just a geopolitical story — it is another example of how energy security, financial markets, and global economic restructuring are becoming increasingly interconnected.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters — "Global Stocks Rise as Iran Peace Hopes Push Oil Lower"

• Modern Diplomacy — "Global Stocks Surge as Iran Peace Hopes Push Oil Lower"

~~~~~~~~~~

 🌱 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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MilitiaMan & CREW IRAQ DINAR UPDATE-"The Final Phase Is Accelerating: Iraq’s Convergences Tighten Fast" Today

MilitiaMan & CREW IRAQ DINAR UPDATE-"The Final Phase Is Accelerating: Iraq’s Convergences Tighten Fast" Today

6-11-2026

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=U641_IGqe2g

Iraq Economic News and Points To Ponder Thursday Evening 6-11-26

Al-Zaydi Proposes Raising The Dollar Exchange Rate And Selling Government Institutions To Pay Off Debts

Baghdad - Al-Sa'a Network Leaks from a meeting held by the leaders of the Coordination Framework at the home of the leader of the Wisdom Movement, Ammar al-Hakim, in the Jadriya area of Baghdad, revealed a rare political consensus on a broad economic plan presented by Prime Minister Ali al-Zubaidi, aimed at addressing the financial crisis and reducing public debt, but at the same time it raised widespread concerns among economists and academic circles.

According to what was reported by Al-Mada newspaper, the plan, which was approved by the leaders of the framework, includes in its first stage raising the exchange rate of the dollar again as one of the options proposed to reduce the financial deficit and increase government revenues, a step that would directly affect commodity prices and the purchasing power of citizens.

The government's vision also includes addressing the public debt, estimated at about $83 billion, by transferring ownership of a number of struggling productive government institutions or restructuring them within a new economic program. This has raised warnings about the possibility that these measures could turn into selling state assets at prices lower than their real value, and the potential for corruption or mismanagement that may accompany this.

On another front, the plan links the security and economic files, as it speaks of launching a broad campaign to recover looted funds and prosecute senior figures accused of corruption, similar to the "Ritz-Carlton" experience, with the aim of recovering approximately $50 billion of public funds.

The plan also requires strengthening security stability, restricting weapons to the state, and addressing the issue of factions that reject integration and organization programs, considering this a fundamental step to create a suitable environment to attract American and Gulf investments estimated at about $50 billion.

Supporters of the project see it as a radical economic transformation aimed at moving Iraq towards a more open economy and reducing dependence on the state, while opponents warn that some of its provisions may lead to additional living burdens on citizens and open the door to the ill-considered privatization of state assets.

https://alssaa.com/post/show/54014-الزيدي-يطرح-رفع-الدولار-وبيع-مؤسسات-حكومية-لسداد-الديون

Prime Minister's Advisor: Growing International Interest In Iraq's Banking Reform Program

Localities   The Prime Minister's Advisor for Banking Affairs, Saleh Mahoud, affirmed on Wednesday that Iraq is making steady progress towards building a more efficient, open, and integrated financial sector within the global economy. He noted the growing international interest in the country's banking reform program.

In a statement received by Al-Eqtisad News, Mahoud said he participated over the past three days in a working visit to London as part of an Iraqi banking delegation that included representatives from the Central Bank of Iraq, the Association of Iraqi Private Banks, and several other banks and electronic payment companies.

The visit aimed to strengthen international cooperation and support the financial and banking reform process in Iraq.

He added that the visit, organized in coordination with the British Embassy in Iraq, provided a platform for dialogue between Iraqi and British financial and banking institutions, thereby enhancing economic and financial cooperation between the two countries.

He explained that on the first day, the delegation held meetings with Hogan Lovells, a firm specializing in legal consulting on financial and banking legislation, and also participated in a dialogue with Chatham House. He emphasized the government's full support for the banking reform projects led by the Central Bank of Iraq in cooperation with international consulting firms.

He noted that the meetings held at the British Parliament addressed the development of banking and economic cooperation, encouraging British investment in Iraq, and strengthening partnerships between financial institutions in both countries.

Mahoud explained that the visit reflected the level of international interest in Iraq's banking reform program, emphasizing that Iraq continues to implement plans to develop its financial sector in accordance with international standards and to enhance the investment climate and economic growth. https://www.economy-news.net/content.php?id=70085

Iraq Is Moving Towards Balancing Programs With US Support And In Coordination With The World Bank

Money and Business   Economy News – Baghdad     Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d'Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.

The Ministry of Finance said in a statement received by "Al-Eqtisad News" that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.

The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.

For his part, the US Chargé d'Affaires affirmed his country's support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.

This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a "program budget" in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform. https://www.economy-news.net/content.php?id=70077

Al-Marsoumi: The Economic Reform Program Includes Abolishing The Ration Card And Reducing Salaries.

Baghdad - Al-Sa'a Network   Economic expert Nabil Al-Marsoumi revealed that the economic reform program presented by Prime Minister Ali Al-Zidi includes measures such as abolishing government subsidies, the food ration card, and reducing allocations for the social protection network and salaries .

Al-Marsoumi said in a televised interview followed by Al-Sa’a Network, “Governments say that they have reduced inflation, but the market says something else. We live in Iraq and we know the level of commodity prices and how they have risen today, starting from consumer goods to cars and other things, and their rise has increased after the closure of the Strait of Hormuz.

As for talking about an inflation rate of 1% or 2%, it is a theoretical and inaccurate proposition, as the level of inflation has risen significantly, especially after the closure of the strait and the Iraqi citizen was affected by that .”

Al-Marsoumi warned that “reducing the exchange rate of the dinar against the dollar comes at an inappropriate time, in light of the economic recession that Iraq is experiencing, and the near-total shutdown of the private sector and other productive sectors.

Therefore, we should be cautious in taking such decisions, especially since they are not taken by the government alone, but rather in agreement with the political blocs .”

He pointed out that "the options have become limited, but there are difficult options, including selling state assets. Let us remember the Russian experience, as privatizing government assets in the context of corruption may mean wasting public money. In the early 1990s, the privatization of government projects led to significant losses, increased poverty rates, and a decline in living standards ."

He revealed “the existence of loopholes that, in the context of corruption, could lead to government assets being valued at less than their true value. Selling these assets will also face a problem related to the employees working in them, which could lead to an expansion of unemployment, undermine social stability, and create a state of popular discontent .”

He pointed out that "the financial situation will not improve much during the current year, in the absence of a sovereign wealth fund, which may lead to withdrawals from the cash reserve.

According to official figures, the foreign currency reserve decreased by 10 trillion dinars between February and mid-May, compared to an increase in the issuance of money to 113 trillion dinars, an increase of 8 trillion dinars, which makes the options more limited ."

He explained that “selling government assets worth trillions of dollars at symbolic prices is not in the interest of the state or the people, and requires careful study and the adoption of the principle of gradualism in dealing with this issue. Although these measures seem good in theory, they will face many obstacles on the ground .”

He explained that "the economic reform program presented by the Prime Minister includes the elimination of government subsidies on fuel, the liberalization of prices, and possibly the floating of the currency, in addition to reducing government spending and salaries.

It appears that the privatization of government projects is part of this reform package, as well as other measures that include the cancellation of the ration card and the reduction of the social safety net, and other issues that the government may move towards implementing if the current situation continues 

https://alssaa.com/post/show/54057-المرسومي-برنامج-الإصلاح-الاقتصادي-يتضمن-إلغاء-البطاقة-التموينية-وتخفيض-الرواتب

 Al-Mada: Al-Zaydi Insists On Opening Major Corruption Files And Returning Historic Sums To The Treasury For The First Time Since 2003

 Baghdad - One News   6/11/2026   Al-Mada revealed that the government is preparing to launch a broad campaign to combat corruption and recover public funds, expecting that these measures will contribute to returning sums it described as “historic” to Iraq for the first time since 2003. 

The newspaper said that a list is currently being prepared within the framework of the Supreme Council for Integrity and Oversight, which was formed during the tenure of Prime Minister Ali al-Zaidi, that includes figures suspected of involvement in major corruption cases.

 She added that the number of people under surveillance is estimated at about 50, including deputies, ministers, and former and current officials, some of whom reside outside Iraq, while others manage major investment and service projects in Baghdad and the provinces, including the housing, hospitals, entertainment, oil and infrastructure sectors.

The sources indicated that estimates circulating regarding the size of the looted funds range between $150 billion and $250 billion, while some estimates raise the figure to about $350 billion, noting that part of these funds is believed to have been used to finance armed groups. https://1news-iq.net/المدى-الزيدي-مُصر-على-فتح-ملفات-فساد-كب/