Tuesday Iraq News Posted by Tishwash at TNT 8-18-2026

TNT:

Tishwash:  Prime Minister's Advisor: Digital Dinar a promising project to enhance the efficiency of monetary policy

 The Prime Minister's advisor, Mazhar Muhammad Salih, confirmed on Monday that the digital dinar is a promising strategic project and not an independent solution to the liquidity crisis. While he pointed out that paying salaries digitally enhances the speed of payments and reduces cash transactions, he indicated that the success of the digital dinar depends on expanding banking services and infrastructure.

Saleh told the Iraqi News Agency (INA): “The proposal to launch the digital Iraqi dinar is one of the ideas that deserves to be studied within the framework of Iraq’s move towards digital transformation and the development of the financial system.

If the digital dinar is meant to be a digital currency issued by the Central Bank of Iraq and enjoys the same legal force as the paper dinar, then it could represent a modern tool to enhance the efficiency of monetary policy, improve liquidity management, and develop the government payments system, which is what most central banks in the world are working on today.”

He added that “a sovereign digital currency does not mean creating a new currency, but rather issuing a digital form of the Iraqi dinar, so that it becomes available for electronic trading through digital wallets and bank accounts, while its value remains equal to the paper dinar,” explaining that “the importance of the digital currency lies in reducing reliance on cash, lowering printing, transportation and protection costs, speeding up payment processes, enhancing financial inclusion, as well as reducing the unregulated cash economy and its associated tax evasion, money laundering and corruption.”

Saleh pointed out that “the digital dinar should not be blamed for addressing the cash liquidity crisis, as the crisis, if it exists, is primarily linked to structural economic and financial factors, including the structure of the general budget, the level of government spending, citizens’ confidence in the banking sector, the size of deposits, and monetary policy,” stressing that “the digital dinar is a means to improve the efficiency of cash management, and not an independent cure for macroeconomic imbalances.”

He continued: “The Central Bank of Iraq has made significant progress in the digital transformation process by expanding electronic payment systems, digital wallets, point-of-sale devices, and linking banks to modern settlement systems.” He pointed out that “these measures represent the foundation upon which future decisions can be made to issue a sovereign digital currency, but this requires completing the legal and legislative frameworks, strengthening cybersecurity, and providing a technological infrastructure capable of accommodating this transformation.”

He explained that “disbursing salaries to employees and retirees in digital form is technically possible, especially since a large segment of salaries are currently disbursed via bank cards linked to the localization of government salaries and pensions,” noting that “in the future, the possibility of depositing salaries directly into digital wallets or accounts linked to the digital dinar can be studied, which reduces the need for cash transactions, enhances the speed of payment execution, and limits the risks of transferring and handling money in cash.”

Saleh explained that "the success of this transformation depends on several requirements, most notably expanding the spread of banking services in all governorates, increasing the number of electronic payment devices and ATMs, improving the quality of communications and internet services, and raising the level of digital financial literacy among citizens, in order to ensure that society accepts these modern methods and uses them with confidence and security."

The Prime Minister’s advisor pointed out that “the launch of the digital Iraqi dinar represents a promising strategic project, but it is not a substitute for economic and financial reforms, rather it is part of them. Its success requires a more diversified economy, a more efficient banking sector, and disciplined financial policies, in addition to an integrated legal and technical framework. When these elements are available, the digital dinar can contribute to enhancing financial stability, improving liquidity management, and supporting the transition towards a more efficient and transparent digital economy, in line with modern global trends in managing monetary systems link

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Tishwash:  Iraq to Drop Zeros From Its Currency as Dinar Redenomination Returns?

Iraq's Communications Minister Mustafa Sanad says Iraq has decided to remove zeros from the dinar and reprint the currency, but the Central Bank remains the country's monetary authority and has not publicly confirmed a timetable.

Is Iraq preparing to remove zeros from its currency after years of discussion over a possible dinar redenomination?

The question returned to the forefront Sunday after Communications Minister Mustafa Sanad said the decision had been made and that Iraq's currency would soon undergo changes and be reprinted.

"The decision to remove the zeros from the Iraqi currency has been made; the Iraqi currency will soon undergo changes and be reprinted," Sanad said in an interview with INews Iraq.

The statement would represent a major development in a monetary reform proposal discussed in Iraq for more than a decade.

But it also raises questions over timing and implementation because the Central Bank of Iraq (CBI), rather than the Communications Ministry, is the country's monetary authority.

The CBI has not, in the material reviewed for this report, announced a specific timetable for removing zeros. In June, the bank stressed its commitment to supporting the dinar and maintaining monetary and economic stability, while warning against inaccurate reporting about currency-related measures.

What Would Removing Zeros Mean?

Removing zeros, commonly referred to as redenomination, would change the numerical denominations of Iraq's banknotes without necessarily changing the currency's real purchasing power.

For example, under a hypothetical three-zero adjustment, 1,000 old dinars could become one new dinar, with prices, wages, bank balances, contracts and other financial values adjusted proportionally.

The policy would therefore be fundamentally different from a devaluation or revaluation of the dinar.

Earlier discussions by the Central Bank have presented deleting zeros as a technical and administrative reform intended to simplify accounting, reduce the volume of cash in circulation and make financial transactions more efficient.

The CBI's broader reform agenda has also focused on strengthening the banking sector and expanding international banking relationships.

In July, Prime Minister Ali Falih al-Zaidi said seven Iraqi banks had been prepared to return to international correspondent-banking channels after meeting compliance and governance requirements.

Why Is the Idea Returning Now?

The proposal comes as Iraq attempts to modernize a heavily cash-dependent economy while managing significant fiscal and monetary pressures.

The country remains highly dependent on oil revenues, leaving government finances sensitive to fluctuations in crude prices and production.

At the same time, the amount of currency circulating in the economy has grown substantially, making the physical handling of large-denomination dinar payments increasingly cumbersome.

A redenomination could make everyday accounting and financial reporting more straightforward.

It could also complement efforts to move transactions into the formal banking system, particularly if the replacement of banknotes encourages citizens and businesses to deposit large cash holdings rather than keeping them outside financial institutions.

Not a Shortcut to a Stronger Dinar

A critical distinction is that removing zeros would not automatically make the dinar more valuable.

If the conversion were purely proportional, an item costing 50,000 old dinars could simply be priced at 50 new dinars after three zeros were removed.

Salaries and bank deposits would undergo the same mathematical adjustment.

The reform would therefore simplify the currency rather than instantly increase Iraqis' purchasing power.

The CBI has previously emphasized the importance of monetary stability, and in June it rejected misleading claims surrounding currency and state financing operations.

The bank said its strategy remained focused on supporting the dinar and maintaining financial and economic stability.

A Reform With Political and Practical Risks

Any decision to redenominate the currency would require extensive preparation.

The government and central bank would need to coordinate the printing of new notes, establish a conversion period, adjust accounting and payment systems, update contracts and financial records, and conduct a large public information campaign.

Businesses, banks and government institutions would also need sufficient time to adapt.

The transition could be particularly sensitive in Iraq because of the size of the informal cash economy.

Authorities would need to ensure that counterfeit notes, unregistered wealth and illicit funds do not enter the financial system during the exchange process.

At the same time, political agreement would be needed across Baghdad's fragmented political landscape, including coordination between the Central Bank, Finance Ministry, Parliament and other state institutions.

Banking Reform Moves in Parallel

The currency debate comes as Iraq's financial sector is already undergoing a broader reform process.

The CBI said in February that Iraqi commercial and Islamic banks and branches of foreign banks had completed a major stage of a comprehensive reform program, with institutions choosing among paths including remaining independent, merging or exiting the market.

The bank said further work would focus on addressing identified deficiencies and achieving full compliance.

The bank has also been working to expand the ability of compliant Iraqi banks to conduct international transactions in currencies including the euro, UAE dirham, Chinese yuan and Jordanian dinar.

Those reforms are relevant to a potential redenomination because changing the physical currency without strengthening the banking infrastructure would address only part of the problem.

What Happens Next?

Sanad's statement has revived a proposal that has circulated through Iraqi economic policy debates for years.

But the key question now is whether the statement represents a finalized government decision ready for implementation or a political announcement ahead of formal action by the country's monetary authorities.

The Central Bank will ultimately be central to determining how, and whether, the reform proceeds.

For Iraqis, the practical significance will depend less on the number of zeros printed on a banknote than on what accompanies the change: monetary stability, functioning banks, transparent conversion rules and confidence that the new currency will retain its purchasing power.

Until those elements are established, the prospect remains best framed as a major policy signal rather than an immediate change in the value of the Iraqi dinar.  link

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Tishwash:  New changes in financial and development institutions... Al-Zaydi appoints new leaders

 Prime Minister Ali Faleh al-Zaidi made new changes today, Tuesday, to a number of leadership positions within financial and development institutions, in a move that the government said comes within its directions to enhance efficiency and support the path of administrative and economic reform.

The changes included appointing Ali Abdul-Ridha Alwan as Chairman of the Trade Bank of Iraq (TBI), while Bilal Al-Hamdani was appointed Executive Director of the Iraq Development Fund, in a decision that places two new figures in front of important responsibilities in one of the most sensitive sectors of the Iraqi economy.

The importance of this step stems from the nature of the institutions that were included in the changes. The Iraqi Trade Bank is one of the most prominent government banking arms, while the Iraq Development Fund is linked to investment files, programs and development projects, which makes management efficiency a key factor in achieving the desired results.

According to official explanations, the aim of the changes is to raise the level of institutional performance and accelerate the implementation of development programs and plans, in addition to supporting administrative and economic reform.

But the success of this step will not be measured by simply changing names and positions, but rather by the tangible results that the new administrations will deliver, especially in light of the challenges facing the Iraqi economy and the banking sector, and the need for more efficient, transparent institutions capable of keeping pace with financial and digital transformations.

The new management of the Iraqi Trade Bank faces important issues, including developing banking services, strengthening governance, improving performance, and supporting confidence in the Iraqi banking system. Meanwhile, the Iraq Development Fund will have a greater responsibility to transform plans and allocations into real development projects that contribute to creating job opportunities and stimulating the economy.

In conclusion, the recent changes appear to be part of a governmental trend to restructure financial and development institutions, and the real test remains during the next phase: Will the new leadership succeed in transforming administrative change decisions into economic and developmental results that are felt by the citizen and the Iraqi economy? link

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Tishwash:  Exclusive: Iraq nears agreement with German company to transport its oil through the Strait of Hormuz with Iranian approval

An Iraqi government source revealed on Monday that the State Oil Marketing Company (SOMO) is conducting intensive negotiations with American and German oil transport companies in an attempt to secure the passage of Iraqi crude through the Strait of Hormuz, taking advantage of Iranian approval for the passage of tankers flying the Iraqi flag amid the disruptions to shipping in the waterway.

The source told Shafaq News Agency that "Iraq is seeking to capitalize on Iran's approval for Iraqi-flagged oil tankers to cross the border to deliver crude oil to global markets," indicating that "SOMO has held talks with two companies specializing in global oil transport, one American and the other German."

He explained that "the American company refused to raise the Iraqi flag on its tankers, which is a basic condition set by Baghdad to ensure the safe passage of oil through the strait, and therefore no agreement has been reached with it so far."

According to the source, "the German company has agreed to raise the Iraqi flag on its tankers while transporting crude oil from Iraqi ports and passing through Hormuz to global markets," noting that "Iraqi oil will not be subject, according to understandings with the Iranian side, to any financial fees for passage."

However, the source pointed to another obstacle related to the American side, saying that Baghdad “needs American approval or authorization to complete the transit arrangements,” predicting that it would be obtained soon, in light of the American sanctions imposed on parties linked to Iranian navigation and insurance mechanisms in the Strait of Hormuz.

The United States imposed sanctions on July 29 on companies and tankers linked to Iran, including entities that Washington said were using insurance and shipping services to collect revenue from ships crossing the strait, further complicating insurance and financial transactions related to transit.

The government source pointed out that the deadline set by Prime Minister Ali Faleh al-Zaidi for the Ministry of Oil to find solutions to the crude oil export crisis "may be extended for a second week," explaining that reaching final arrangements with shipping companies "is not easy," as the companies are demanding higher transportation fees and additional insurance guarantees commensurate with the level of risks in the strait.

On Monday, Al-Zaidi gave the Ministry of Oil a week to show tangible results in addressing the export crisis, and directed it to contract with international companies to market and sell oil, and to develop alternative export outlets, in light of the decline in exports due to the Hormuz crisis.

The new negotiations come after an official Iraqi move towards Washington and Tehran to obtain arrangements that would ensure the continuous passage of oil tankers, while Iraq's exports in July amounted to about 49 million barrels, more than 30 million barrels of which passed through the Strait of Hormuz, according to data from the Ministry of Oil.

Security risks and high insurance costs remain major obstacles to restoring Iraqi exports to normal levels. Shipping companies have refrained from sending tankers to Basra ports despite the significant discounts offered by SOMO to buyers. Ship tracking data from earlier in August showed a sharp decline in shipping traffic through the Strait of Hormuz, as ship owners remained hesitant to enter the region due to the risk of being targeted.

In a sign of the difficult situation, Totsa, the trading arm of Total Energies, recently offered Basra crude for loading from locations outside the Strait of Hormuz, as buyers continue to be reluctant to send tankers to Iraq’s southern ports because of security risks.  link

Iraq Economic News and Points To Ponder Monday Evening 8-17-26

 Iraqi PM Advisor: Digital Dinar a ‘Promising Strategic Project’

Daban Mohammed   At a Glance 

• The Iraqi PM advisor described the digital dinar as a strategic initiative designed to enhance monetary policy and improve liquidity management.

• The advisor clarified the digital currency is a legal tender extension of the paper dinar.

• The official cautioned the project is not a direct remedy for structural macroeconomic imbalances.

• Lawmakers proposed distributing state salaries directly into citizen digital wallets.

Mudher Muhammad Salih, advisor to the Iraqi Prime Minister, identified the proposed digital Iraqi dinar as a strategic initiative to boost monetary policy efficiency, enhance liquidity management, and modernize government payment systems.

Key Statement and Focus Area

• The PM advisor noted, "The proposal to launch the digital Iraqi dinar is one of the ideas worth studying within the framework of Iraq's orientation towards digital transformation and developing the financial system."

• Salih stressed that "the launch of the digital Iraqi dinar represents a promising strategic project, but it is not a substitute for economic and financial reforms; rather, it is a part of them."

• "The Central Bank of Iraq has made significant strides in the digital transformation path by expanding electronic payment systems, digital wallets, and point-of-sale (POS) devices, as well as linking banks to modern settlement systems," he added.

Speaking to state media, the Iraqi News Agency (INA), Salih said a digital dinar issued by the Central Bank of Iraq (CBI) with legal tender status could enhance monetary policy and liquidity management.

Salih explained that the initiative introduces a "digital version of the Iraqi dinar" for electronic trading while maintaining a value "equal to the paper dinar."

He clarified that the sovereign digital currency does not introduce a new currency, but rather creates a "digital version of the Iraqi dinar" available for electronic trading via digital wallets and bank accounts while remaining "equal to the paper dinar."

The digital currency aims to reduce cash reliance, cut operational costs, and counter financial corruption like tax evasion. However, Salih cautioned against viewing the digital dinar as a direct solution to Iraq's structural liquidity crisis.

He emphasized that the project serves to improve cash management efficiency rather than remedy broader macroeconomic imbalances.

The advisor highlighted that these measures form the foundation for a future sovereign digital currency. However, he noted that the transition requires completing legal frameworks, strengthening cybersecurity, and upgrading technical infrastructure.

Salih mentioned that paying employee and retiree salaries digitally is already "technically possible" due to existing widespread bank card enrollment. In the future, the government can study depositing funds directly into accounts linked to the digital dinar to limit the risks of "handling funds in cash."

He underlined that success depends on nationwide banking expansion, more payment devices, improved internet services, and higher "digital financial literacy" to ensure "community acceptance" and security.

FYI

The proposed digital Iraqi dinar aims to modernize capital movement and address a severe, structural liquidity paradox in the country. 

To combat the hoarding of an estimated 70% to 80% of currency outside the banking system, legislators suggestsd to distribute government salaries directly via the digital dinar, bypassing the physical cash gridlock.

On Friday, August 7, lawmaker Saad al-Awadi formally proposed launching the digital Iraqi dinar to secure and distribute state employee and retiree salaries directly into digital wallets. 

The explicit intent of this legislative push is to bypass the physical cash bottleneck and secure immediate purchasing power for citizens. https://channel8.com/english/news/63999

Raq’s Government Has Not Decided To Remove Zeros From The Currency,

Zoom News @zoomnewskrd   #BREAKING: Iraq’s government has not decided to remove zeros from the currency, spokesperson Haider Al-Aboudi says, adding that any such move would require legislation from Parliament.

https://x.com/zoomnewskrd/status/2089427732572557349

Iraq: Increased Demand For The Dollar Following Leaks About Changing The Dinar.

Demand for the dollar is high in the Iraqi market amid expectations of currency change and a rising exchange rate.

August 17, 2026Last updated: August 17, 2026

Al-Mustaqilla - An informed source revealed to Al-Mustaqilla that there has been a noticeable increase in demand for the dollar in the Iraqi market in recent hours, coinciding with escalating talk and leaks regarding a government plan to make changes to the Iraqi currency in the coming period.

The source said that the increased demand for the dollar is mainly due to the anxiety caused by the statements and leaks circulating about the project to change the Iraqi dinar, and the new monetary and financial measures that may accompany it.

According to the source, some market participants are converting part of their savings from dinars to dollars, in anticipation of any possible changes in the currency trading mechanism or exchange rates, which may increase demand for foreign currency and increase pressure on the dollar exchange rate in the parallel market.

The source indicated that there are expectations of a rise in the dollar exchange rate against the dinar during the next period if the demand for the dollar continues, stressing at the same time that the size and extent of the rise are linked to the measures that may be taken by the government and the Central Bank of Iraq, as well as the level of supply and demand in the market.

These developments come at a time when controversy is growing over the restructuring of the Iraqi currency and the removal of zeros, amid information circulating about preparations to issue a new currency and replace the current currency according to specific timeframes.

Conversely, any official change to the currency or exchange rate requires decisions and procedures announced by the competent authorities, and leaks circulating alone cannot be considered evidence of the project's implementation.

Iraqi markets are awaiting the position of the Central Bank and the government regarding this information in the coming days, especially since any official announcement regarding the currency or exchange rate would directly affect the movement of the dollar and local markets.

Iraq: Increased demand for the dollar following leaks about changing the dinar.

"A Sick Currency" In New Clothes... Will Removing Zeros Save The Dinar Or Just Beautify The Crisis?

Information / Report...   From time to time, the proposal to remove zeros from the currency and replace them as a solution to end inflation and simplify accounting transactions is raised in Iraqi economic and political circles.

With fluctuating exchange rates, the current cash liquidity crisis, and the pressures of public debt, the Iraqi citizen finds himself torn between government promises of stability and the very real fears of inflation.

Will changing the local currency and removing its zeros represent a genuine lifeline for the ailing economy, or is it merely a cosmetic measure for a sick currency that will not address the root causes of the structural financial crisis plaguing the country? 

Supporters of this measure believe it offers significant organizational and psychological benefits, most notably facilitating accounting transactions and reducing the astronomical figures in public budgets, bank accounts, and daily sales and purchase statements.

Moreover, it would restore confidence in the Iraqi dinar by giving it an appearance of strength and high value against foreign currencies like the dollar, thus improving investor confidence.

Additionally, it would alleviate logistical burdens by reducing the volume of circulating cash and saving on printing, transporting, and storing it, and would compel citizens to bring hoarded cash at home into the formal banking system to combat the shadow economy. 

Conversely, economists warn that removing zeros from the currency could become a mere illusion with potentially disastrous consequences, as it fails to address the root causes of the structural crisis linked to Iraq's total dependence on oil.

Furthermore, the process of withdrawing the old currency and printing and distributing the new denominations would be prohibitively expensive, and could potentially cause market instability, driving citizens to seek refuge in dollars or gold out of fear of economic collapse. 

In this context, economist Abdul Rahman al-Mashhadani emphasized on Monday that the decision to remove zeros and change the local currency falls exclusively under the purview of the Central Bank of Iraq. He cautioned against taking this step amidst the current financial crisis, given its potentially negative repercussions on the market.

Al-Mashhadani told Al-Maalouma News Agency, “The idea of removing zeros and changing the currency is not new; work on it and a comprehensive study on it have been underway since 2012.” He added that the justifications recently put forward, claiming the move aims to control the funds of corrupt individuals, are illogical and impractical.

He pointed out that "changing the currency will not have a direct impact on the big corrupt figures and those hoarding ill-gotten gains, as they have many ways to circumvent the decision, including distributing the funds to relatives and close associates or recruiting people to transfer them in exchange for financial commissions."

He added that "the currency replacement process will take at least seven months at best, and requires the Central Bank to develop a new structure and designs, which will be subject to in-depth discussions." He explained that "the printing process is not local but is linked to a British company, and the denominations are printed in four countries: France, Britain, Spain, and India."

Al-Mashhadani clarified that “the replacement process needs specific and well-regulated banking outlets to prevent overcrowding, chaos, and exploitation by unscrewulous individuals.” He revealed that "the amount of money hoarded outside the banking system is enormous and estimated to be Approximately 92 trillion dinars."

For his part, Murtadha al-A'ajibi, a member of the Iraqi Foundation Coalition, confirmed on Monday that talk of removing zeros from the Iraqi currency is actually a proposal being discussed, indicating that there are no current government efforts or plans to implement it.

Al-A'ajibi told Al-Ma'louma news agency, "The talk about removing zeros from the Iraqi currency is just a proposal being discussed, and there are currently no government efforts or actual plans to implement this step," explaining that "the matter has not yet reached the stage of implementation procedures."

He added that "removing zeros does not represent a solution to the financial crisis that Iraq is suffering from, nor can it address the root of the economic problem," noting that "addressing the financial situation requires real and well-considered measures that target the causes of the crisis, rather than resorting to superficial solutions."

Al-A'ajibi pointed out that "such steps do not contribute to addressing the financial crisis, but rather are merely stopgap solutions that do not fundamentally address the economic problems." He stressed the necessity of "focusing on economic and financial reforms that would address the root causes of the imbalances and enhance the stability of the Iraqi economy". End/25

https://almaalomah-me.translate.goog/news/141463/report/عملة-مريضة-بأثواب-جديدة-حذف-الأصفار-هل-ينقذ-الدينار-أم-يجمل?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

The Monetary System Is in “Huge Trouble” | Frank Giustra & Michelle Makori

The Monetary System Is in “Huge Trouble” | Frank Giustra & Michelle Makori

Miles Franklin Media:  8-16-2026

Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Frank Giustra, CEO of the Fiore Group, mining financier and founder of Lionsgate Entertainment.

Following Senator Rand Paul’s visit to Fort Knox, Giustra explains why seeing the gold is not the same as independently verifying its quantity, ownership and possible encumbrances.

Giustra also examines mounting pressure on the U.S. dollar and Treasury market, central bank gold buying, de-dollarization, the petrodollar and the yen carry trade. He explains why he expects quantitative easing to return and how the policy response to the next crisis could drive gold significantly higher.

Giustra also warns that the AI-driven equity boom is an unsustainable bubble and explains why a recession could initially pull down stocks, cryptocurrencies and gold.

He closes with his long-term outlook for copper amid rising demand and a deepening supply deficit.

 In this episode of The Real Story with Michelle Makori:

What Senator Rand Paul’s Fort Knox visit did and did not confirm

Why Giustra is calling for an independent audit of U.S. gold reserves

Whether America could be quietly accumulating additional gold

Central bank gold buying and the acceleration of de-dollarization

The petrodollar, Iran and the Strait of Hormuz

Japan, the yen carry trade and risks to U.S. Treasuries

Why Giustra expects quantitative easing to return

The AI bubble, recession risk and implications for financial markets

Why gold could fall initially during a liquidity crisis

Copper shortages, critical minerals and the global supply deficit

Why owning physical gold remains Giustra’s highest-conviction position

00:00 Coming Up

02:38 Introduction

04:15 Fort Knox Timeline

06:10 Clips And Reactions

08:27 Why No Real Audit

11:53 Audit Motives And Doubts

16:46 Hidden Gold Theories

19:11 Covert US Gold Buying

25:05 China Gold And Paper Market

29:11 How Gold Reenters System

31:09 Five Year Reset Forecast

34:37 Petrodollar And War

37:52 Petrodollar Police Examples

40:02 Bessent Clip And Pushback

43:39 Iran War Endgame

44:36 War Fallout Grows

45:52 Inflation Oil And Gold

49:27 Japan Yen Carry Trade

53:24 Treasury Selloff To QE

56:35 Default Or Debase

59:38 Next QE Ends Dollar

01:02:09 Dollar Crisis Repression

01:05:51 Hard Asset Reset Path

01:08:52 AI Bubble Rate Cuts

01:15:41 Copper Supply Cliff

01:19:53 Own Physical Gold

01:21:29 Closing

https://www.youtube.com/watch?v=WyuLLGhI7To

Iraq Economic News and Points To Ponder Monday Afternoon 8-17-26

Tehran To Tackle Iranian Business Hurdles In Iraq

2026-08-16 Shafaq News- Baghdad  Central Bank of Iran Governor Abdolnaser Hemmati pledged to address obstacles facing Iranian businesses in Iraq, Iranian media reported on Sunday.  During a meeting with Iranian business representatives in Baghdad, Hemmati said he would follow up on export revenues, customs tariffs, and unpaid dues to Iranian contractors.

Hemmati arrived in Baghdad on Sunday with an economic delegation and met Iraqi Trade Minister Mustafa Nizar al-Ani to discuss strengthening bilateral trade, facilitating the movement of goods, and implementing existing agreements.

https://www.shafaq.com/en/Economy/Tehran-to-tackle-Iranian-business-hurdles-in-Iraq

Oil Prices Climb On Hormuz Shipping Disruptions

2026-08-17 Shafaq News Oil prices rose on Monday as fading expectations of a U.S.-Iran peace breakthrough and slower tanker traffic through the Strait of Hormuz reinforced geopolitical risk concerns in the market.

Brent crude futures rose as much as 1% to $89.40 per barrel and were last trading up 72 cents at $89.20 by 0229 GMT. The U.S. West Texas Intermediate crude futures ⁠rose 44 cents to $82.83 a barrel.

Both contracts gained more than 5% last week following attacks on tankers operated by Abu Dhabi National Oil Company in the Hormuz strait and on a Saudi Aramco refinery.

Over the weekend, Iranian Foreign Minister Abbas Araqchi said Iran had not decided to resume talks with the U.S. while U.S. President Donald Trump urged Americans to accept slightly higher gasoline prices while the conflict continues.

"Oil prices have now rebounded almost completely from the lows seen in early August, as hopes for a more permanent resolution between the U.S. ⁠and Iran have faded and geopolitical risk premiums have returned to the market," said Priyanka Sachdeva, head of market insights for Phillip Nova in Singapore.

"However, I see limited upside from here unless we get clear evidence of renewed aggression in the Strait of Hormuz, particularly material damage ⁠to tankers or oil infrastructure," she said.

Shipping through the Strait of Hormuz slowed over the weekend, data showed on Monday, following attacks on tankers. Five commodity vessels transited the strait on Saturday, with none ⁠registered for Sunday, ship-tracking data from Kpler showed, versus 31 for the prior weekend.

The United Arab Emirates accused Iran of attacking a third vessel operated by ADNOC that was ⁠transiting the strait on Friday, the Emirati state news agency WAM reported, after blaming it for two other incidents involving ADNOC vessels in the strait on Thursday evening. https://www.shafaq.com/en/Economy/Oil-prices-climb-on-Hormuz-shipping-disruptions

PM Al-Zaidi Orders Round-The-Clock Oil Operations

2026-08-17 Shafaq News- Baghdad (Updated at 18:35)  Iraqi Prime Minister Ali Al-Zaidi on Monday ordered oil companies to operate around the clock to sustain production and boost exports as the closure of the Strait of Hormuz continues to restrict crude shipments, demanding tangible results within one week.

At an Oil Ministry meeting, Al-Zaidi called for faster pipeline upgrades, alternative routes, and contracts with international companies to market Iraqi oil, according to his office. He also pressed officials to use the crisis to accelerate infrastructure projects and reduce dependence on Hormuz.

Every barrel of oil left unsold meant a delay in salaries or public services and a loss to the state treasury, Al-Zaidi stated, insisting that officials deliver solutions rather than explanations.

https://www.shafaq.com/en/Economy/PM-Al-Zaidi-orders-round-the-clock-oil-operations

Gold Nears $4,400 As Rate Hike Bets Fade

2026-08-17   Shafaq News   Gold ​drifted higher on Monday, supported by a weaker dollar and recent ‌soft economic data that reduced expectations for a U.S. interest rate hike next month.

Spot gold rose 0.4% to $4,391.49 per ounce by 0520 GMT. Prices hit a more-than-two-month high ​last week.

U.S. gold futures for December delivery edged 0.3% higher to $4,448.40.

The U.S. ​dollar index (.DXY) was down 0.2%, making greenback-priced metals more affordable for ⁠other currency holders.

"Gold has taken the ball and run with it ​to start the week, with soft inflation numbers keeping the U.S. dollar under ​pressure and giving gold extra headroom to push towards the $4,400 level," said Tim Waterer, chief market analyst at KCM Trade.

"A sustained move above $4,500 would likely need additional dollar ​weakness or a clearer pullback in energy prices."

An unexpected decline in ​U.S. nonfarm payrolls in July, coupled with data showing only mild consumer price inflation, has reduced ‌expectations ⁠that the U.S. Federal Reserve will raise interest rates next month.

Traders are now pricing in a 30% chance of a September rate hike, down from 47% a month earlier, CME's FedWatch Tool showed.

Lower interest rates reduce ​the opportunity cost ​of holding non-yielding ⁠bullion, enhancing its appeal to investors.

Markets are now awaiting minutes of the Fed's July meeting, due on Wednesday, ​for further clues on policymakers' monetary stance.

On the geopolitical ​front, U.S. ⁠President Donald Trump's envoys met with Egyptian, Qatari and Turkish mediators in Cairo on Sunday, a diplomatic source said, aiming to advance his Gaza peace plan, ⁠even as ​Israel pressed on with airstrikes in the ​enclave.

Among other metals, spot silver rose 1.4% to $65.57 per ounce. Platinum fell 0.1% to $1,746.43, while palladium gained 1.4% ​to $1,331.10.  (Reuters) https://www.shafaq.com/en/Economy/Gold-nears-4-400-as-rate-hike-bets-fade

USD/IQD Edges Higher In Baghdad, Erbil

2026-08-17 Shafaq News- Baghdad/ Erbil  The US dollar opened higher in Iraq on Monday, trading above 153,900 dinars per 100 dollars.

According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 154,000 dinars per 100 dollars, up from the previous session’s 153,100 dinars.

In the Iraqi capital, exchange shops sold the dollar at 154,500 dinars and bought it at 153,500 dinars, while in Erbil, selling prices stood at 154,000 dinars and buying prices at 153,900 dinars.

https://www.shafaq.com/en/Economy/USD-IQD-edges-higher-in-Baghdad-Erbil

Gold Prices Increase Across Baghdad And Erbil

2026-08-17    Shafaq News- Baghdad/ Erbil   On Monday, gold prices hovered around 970,000 IQD per mithqal in Baghdad and Erbil markets, according to a Shafaq News market survey.

Gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 960,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 956,000 IQD. The same gold sold for 950,000 IQD on Sunday.

The selling price for 21-carat Iraqi gold stood at 930,000 IQD, while the buying price reached 926,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 960,000 and 970,000 IQD, while Iraqi gold sold for between 930,000 and 940,000 IQD.

In Erbil, 22-carat gold was sold at 994,000 IQD per mithqal, 21-carat gold at 951,000 IQD, and 18-carat gold at 814,000 IQD.

https://www.shafaq.com/en/Economy/Gold-prices-increase-across-Baghdad-and-Erbil

Breaking Down Comrade Mamdani’s 30% Discount

Breaking Down Comrade Mamdani’s 30% Discount

Notes From the Field By James Hickman (Simon Black / Sovereign Man) August 14, 2026

When Walmart founder Sam Walton passed away in 1992, his family fortune made him the wealthiest person on the planet... by far. His Walton Family Enterprises was worth $23.8 billion— nearly four times as much as Bill Gates at the time. And if he were still alive today, Walton would be the second-richest man in the world, just behind Elon Musk... and ahead of Zuckerberg, Ellison, the Google guys, etc.

That’s a pretty impressive feat for a guy whose core business is basically being a gigantic grocery store.

Selling food is an extremely low margin business. And Walton’s success was built on a fanatical adherence to cost control and efficiency— being able to squeeze every penny of savings possible from the entire supply chain, and passing those savings on to the customer.

In short, he made a fraction of a cent on every sale... but generated more sales than any company in the history of the world.

It’s fascinating that Sam Walton dedicated his life to perfecting this business model. Yet Comrade-Mayor Zohran Mamdani— who has never operated a business in his entire life— thinks he can do a better job than Walton.

A few weeks ago, Mamdani’s team published their formal RFP (request for proposal) for contractors to build five city-owned grocery stores in New York City— one per borough.

Mamdani’s objective is to sell staple foods like milk, eggs, bread, etc. at a 30% discount to the supermarkets down the street.

So apparently these socialists believe that 30% is the amount that "Big Grocery" is gouging them... which shows just how little they understand about business.

Again, groceries are notoriously low margin businesses. If they sell you something for $1, their gross profit is about a penny. Cutting prices by 30% guarantees they will lose money.

Staple consumer items like milk, eggs, chicken, and bread— exactly the products that Mamdani intends to sell at a discount— are some of the LOWEST margin products in the grocery store. Grocers already sell those at rock bottom prices just to get shoppers in the door.

For example, the Giant Eagle supermarket chain sold eggs at or below cost in all of its stores during last year’s bird flu outbreak. Costco sells over 150 million rotisserie chickens a year at $4.99 and loses tens of millions of dollars on them.

Grocers treat these staples as loss-leaders; they make up for it by generating small profits from the rest of the shopping cart, i.e. items like soda, snacks, prepared foods, and specialty items.

There is simply no fat to cut on staple items... and certainly nowhere near 30%. In fact, let’s take a quick look at how the supply chain works— starting from the grocery store and working backwards.

We already showed how grocers will barely break even, i.e. they sell a staple food for $1, and they make no money.

Before them are the major food distributors who supply the grocery stores.

Sysco, the country's biggest food distributor, keeps about two cents out of of every dollar it charges. The transportation companies hauling the food keep around three cents.

One step further back is the food processor. Tyson Foods, the largest meat company in America lost a billion dollars selling beef last year. Its core chicken business is generally profitable, but highly cyclical, and they have swung to nine-figure losses when feed costs spike.

Yet even the farmers themselves who supply the processors or grow the grain typically lose money; over 1,000 American dairy farms closed last year alone, and Illinois farmers growing the feed corn are on track to lose $70 to $110 an acre on this year's crop, their fourth losing year in a row. And that’s after their government subsidy checks.

Nobody in the food chain for staple goods is making real money. Farming, feed, processing, trucking, distribution, retail: every link runs on pennies. A 30% price cut cannot come out of anyone's profit, because the profit does not exist.

Comrade-Mayor Mamdani and his merry band of socialists either don't understand that, or have decided it doesn't matter because the taxpayer will absorb it.

Now, the city won't run the stores itself. Mamdani will pay a contractor to run them... But since the stores are designed to lose money, the city will send the operator a check every year to cover the losses.

How big will the check be? Nobody knows.

But on opening day, if the city really is selling the cheapest chicken in the borough, people will come buy all of it. Restaurant managers will stock up on cheap chicken to resell to their customers. Consumers will fill their freezers with it.

All that chicken will vanish in an instant, just like a deep-discount TV during a Black Friday sale.

Naturally the Comrade-Mayor will take steps to prevent this. But how?

Initially they said you would need to show ID at the grocery store. But they quickly backtracked because, obviously, ID is racist. So now they’re pitching the idea of something like a library card.

You need to show ID to get the card, and the card to buy the chicken. But apparently that’s not racist?

Naturally the card would need to track how much chicken a single consumer purchases in order to prevent people from going to multiple stores and buying out the whole inventory.

But if that’s the case, it’s not a library card. It’s a ration card. And that’s been a staple of every socialist disaster for over a century.

Running a grocery on a tiny margin is one of the hardest operating problems in retail. Order too much fresh food and it rots in the back room; order too little and the shelves sit empty.

Walmart survives on that knife's edge with some of the most advanced logistics technology on earth.

For example, they discovered decades ago that that strawberry Pop-Tarts sell at seven times their normal pace ahead of a hurricane— which is why trucks full of them roll toward the Florida coast before a storm hits.

Capitalism works through specialization— specialists spend their entire careers perfecting one tiny sliver of that machine to claw back a fraction of a point of margin.

The farmer, the trucker, and the supply-chain engineer each spend a lifetime becoming ruthlessly good at one narrow thing, and the penny of margin is the reward for doing it almost perfectly.

Mamdani quotes Karl Marx and thinks he can do a better job... even though his government cannot even reliably pick up the garbage.

These are the same people who want to run health care, housing, and energy.

Frankly I couldn’t be happier. The socialists finally got what they wanted: they’re in power, in the spotlight. And they’re about to prove once and for all that their entire ideology is a complete and total disaster.

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

https://www.schiffsovereign.com/trends/breaking-down-comrade-mamdanis-30-discount-155600/?inf_contact_key=820d92c1ab1d1c50109c1b376181a78c6bcc35822fbfda6fe6081764d04a6051

Monday Iraq News Posted by Tishwash at TNT 8-17-2026

TNT:

Tishwash:  Late-night meeting of the four presidencies to discuss three "serious" issues in Iraq

The four presidencies will hold an important meeting this evening, Monday, focusing on the issue of limiting weapons and options for confronting factions that refuse to disarm after the September 30 deadline.

According to an informed source who spoke to Shafaq News Agency, the meeting to be held between Prime Minister Ali al-Zubaidi, Speaker of Parliament Hebat al-Halbousi, President Nizar Amidi, and Head of the Supreme Judicial Council Faiq Zaidan will focus on two issues: first, restricting weapons, and second, continuing the fight against corruption and ensuring there are no red lines in pursuing any person accused of corruption, regardless of their governmental or political position.

The source explained that the meeting will also discuss the economic situation and the serious financial crisis that Iraq is going through due to the halt in its oil exports through the Strait of Hormuz, and possible solutions to confront the crisis in the coming period.

The issue of armed factions is one of the most sensitive issues facing the Iraqi government, with the approach of September 30, which the main political forces have set as the deadline for restricting weapons to official institutions.

In September 2024, Iraq and the United States agreed to end the military mission of the US-led international coalition against ISIS in Iraq, as part of a phased plan to move the security relationship between the two countries from the framework of the coalition to a bilateral partnership.

On Sunday, the State of Law coalition, led by Nouri al-Maliki, submitted a proposal to separate the date of the withdrawal of US forces from Iraq from the issue of disarming the factions, within the framework of a vision that is still "under study".

Regarding the fight against corruption, a campaign of arrests was launched in Iraq in late June, targeting political officials, members of parliament, and businessmen, as part of a campaign called "Operation Dawn," which Prime Minister Ali al-Zubaidi described as the "first phase" of broader measures to recover public funds, while tasking oversight bodies with receiving any indications related to cases of corruption or negligence in state institutions.

On the financial level, Iraq is experiencing a serious financial crisis, which has resulted in the delay in paying the salaries of a number of Iraqi state employees for the month of July, amidst accumulated living expenses and increasing economic pressures that have begun to be clearly reflected in the Iraqi markets.  link

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Tishwash:  Minister of Communications: The decision to remove zeros and change the Iraqi currency has been finalized.

Communications Minister Mustafa Sand said that the decision to remove zeros from the Iraqi currency and change it has been finalized, noting that implementing this step will contribute to bringing hoarded funds out of the banking system and returning them to the economic cycle .

During a televised interview followed by Al-Sa’a Network, Sand added that “the currency exchange process will push those who hoard money to disclose it, while other amounts will remain outside the exchange process, especially money that its owners cannot show,” referring to money obtained from corruption or illegal activities, in addition to money that is lost or belongs to deceased people, which may reduce the size of the circulating cash mass.

He pointed out that "the value of the money that may not be exchanged could reach, according to his estimates, about 8 trillion dinars," considering that "its non-return practically means that the state will not be obliged to issue its equivalent in new currency."

Sand’s statements come after a wide controversy she stirred up regarding changing the Iraqi currency and removing zeros, as the “Eco Iraq” observatory denounced the announcement of sensitive economic and monetary decisions through unqualified entities, while the Central Bank of Iraq and the Ministry of Finance remained silent .

The observatory said in a statement received by Al-Sa’a Network that managing a file as large as the national currency through scattered statements, instead of official statements issued by the competent monetary and financial authorities, reflects a weakness in government coordination, warning that ambiguity may open the door to rumors and speculation and affect citizens’ confidence in the national currency, and demanding that the Central Bank and the Ministry of Finance issue an official clarification regarding the truth of the decision, its implementation mechanisms and its timetable . link

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Tishwash:  Economic Observatory: Government silence regarding "currency change" is confusing the Iraqi dinar market

Observatory of Iraq criticized the confusion in the government’s discourse, which is represented in announcing sensitive economic and monetary decisions, such as changing the currency, through unqualified entities, amid the silence of the Central Bank of Iraq and the Ministry of Finance.

The observatory stated in a statement received by Shafaq News Agency that "managing a file as large as the national currency through scattered statements, instead of clear official conferences and statements issued by the competent monetary and financial authorities, reflects a weakness in government coordination," explaining that "such confusion opens the door to rumors, speculation, market disruption, and harm to citizens and the country."

The observatory warned that "this ambiguity affects the economic security of citizens and may affect their confidence in the national currency and increase the demand for foreign currencies and gold, thus exacerbating the state of anxiety in the market."

Eco Iraq held the Central Bank and the Ministry of Finance "responsible for clarifying the truth about the decision and any confusion in the Iraqi market resulting from their silence," demanding that the competent authorities "issue an official statement explaining the reasons for changing the currency, the implementation mechanisms, the timetable, and guarantees to protect citizens' savings and market stability."  link

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Tishwash:  Iraq Struggles to Contain Volatile Dinar Currency Disparity

At a Glance

The Iraqi dinar reached its peak value during the 1970s when one dinar was worth four U.S. dollars.

Conflict and economic embargoes during the 1990s caused the currency to crash to 3,000 dinars per dollar.

The Central Bank fixed the official rate at 1,320 IQD, but parallel market rates remain high at 1,530 IQD.

The government has failed to contain the significant price gap between official state channels and open market vendors.

Channel8 has learned that decades of geopolitical conflict, sanctions, and market resistance have left Iraq unable to bridge the gap between its official 1,320 IQD peg and parallel market rates exceeding 1,530 IQD, cementing a historic decline from its four-dollar peak in the 1970s. 

Key Statements and Focus Area

On current market disparity: A persistent, wide gap remains between Iraq's official and market exchange rates, with open markets trading at 1,530 IQD despite the Central Bank's 1,320 IQD official peg.

On structural historical declines: This modern monetary disparity mirrors the volatile historical trajectory of the Iraqi dinar, which collapsed from its historic peak of four dollars per dinar to some of its lowest historical levels.

On modern monetary interventions: Although the government devalued the dinar to 1,460 IQD in 2021 due to crashing oil revenues and later revalued it to 1,320 IQD in 2023, the market resisted, with street prices occasionally spiking to 1,700 IQD.

Chronological Eras of the Iraqi Dinar Value

1968–1979 (The Peak): The currency maintained its absolute highest valuation, trading at a stable rate of 1 IQD to $4.00 USD.

1980–1988 (The Iran-Iraq War): Wartime economic strain caused a minor depreciation, adjusting the value to 1 IQD to $3.30 USD.

1991–2003 (The Sanctions Era): Under a crushing economic blockade and excessive domestic printing, the currency collapsed to 3,000 IQD to $1 USD.

2004–2021 (Post-War Stabilization): The introduction of a new currency stabilized the market, keeping exchange rates steady between 1,180 IQD and 1,200 IQD per dollar.

In recent weeks, the Iraqi dinar strengthened against the U.S. dollar, with the exchange rate dropping from a peak of nearly 160,000 IQD to 153,000 IQD per 100 dollars.

This decline was driven by the U.S. government lifting restrictions on several private Iraqi banks and the Central Bank of Iraq addressing rumors of currency devaluation.

Market traders told Channel8 that ongoing government financial stabilization measures, including organized customs duty collections via the ASYCUDA system, helped restore public sector confidence, keeping the dollar from climbing back to its June peaks.

Speaking to Channel8 today, Jabar Goran, spokesperson for the Slemani Currency Exchange Market, highlighted that deleting zeros from the dinar would compel holders of hidden cash reserves to disclose their origins, effectively rendering tens of trillions in illicit funds unusable.

Goran also dismissed rumors of an Iraqi dinar exchange-rate adjustment, stating that a devaluation is unnecessary because rising revenues have offset increased expenditures.

The spokesperson previously predicted that if regional geopolitical tensions ease and vital maritime trade channels like the Strait of Hormuz remain stable, the parallel market exchange rate could significantly strengthen, potentially dropping down to a range between 146,000 and 147,000 IQD per $100 USD.

FYI

The Iraqi dinar was originally introduced into circulation in 1932. Following the regime change in 2003, the Coalition Provisional Authority introduced an entirely overhauled banknote series widely known as the "Bremer Print."

This new issue systematically replaced both the pre-1991 high-quality "Swiss Print" and the poorly printed, easily counterfeited banknotes produced locally during the 1990s sanctions era.

This monetary timeline demonstrates that prolonged foreign wars, domestic mismanagement, and geopolitical shifts remain the primary drivers behind the dynamic instability of the dinar against global currencies.  link

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Tishwash:  The Prime Minister's advisor: The government has translated its promises into restructuring the national economy.

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, affirmed on Saturday that evaluating Prime Minister Ali al-Zaidi's government after 100 days in office should not be limited to the number of days it has spent in power, but rather to the direction it has chosen since taking office. He pointed out that the government assumed responsibility in a highly complex Iraqi context.

According to the official newspaper, Salih stated, "The government came to power in a highly complex Iraqi context: an economy heavily dependent on oil, a state burdened by a long administrative and financial legacy, entrenched corruption, security and sovereignty challenges, and increasing social pressure seeking job opportunities, services, and a decent life."

He added, "Al-Zaidi's government did not deal with these issues as separate crises, but rather tried to view them as parts of a single problem: building the state and restoring its ability to manage its resources and interests."

He indicated that "the fight against corruption was at the forefront of the files to which the government gave clear priority," explaining that "the importance lies not only in opening files or taking measures, but in moving the fight against corruption from the usual political rhetoric to a more institutional path based on oversight, recovering public funds, and holding those involved accountable."

He explained that "transforming the fight against corruption into a declared and ongoing battle is an important step in the right direction, after corruption has become, for many years, one of the biggest obstacles to state-building."

Saleh pointed out that "the al-Zaidi government did not merely manage the existing economy, but also proposed the idea of ​​reforming its structure," indicating that "talk of program-based budgeting, reforming the banking sector, developing the tax and customs systems, supporting the private sector, and creating new tools to finance development and investment reflects an attempt to move from an economy that relies on rent-seeking to one that can generate value."

He emphasized that "Iraq does not lack resources, but rather the ability to transform those resources into production, job opportunities, and sustainable wealth," noting "the importance of the government's focus on investment, energy, and infrastructure, and its efforts to open the door to broader investment partnerships."

He added that "economic diversification is not just a financial slogan, but the path to building a genuine labor market and reshaping the Iraqi middle class based on work, production, and efficiency."

Regarding the private sector, Saleh explained that "Iraq cannot build its future relying solely on government jobs," clarifying that "what is needed is an economy that creates opportunities outside the state and gives doctors, engineers, merchants, farmers, industrialists, and entrepreneurs real space to grow."

He pointed out that "the government's success in this direction will not be measured only by the volume of investments it attracts, but also by the number of productive jobs it creates and its ability to translate investment into tangible economic activity that citizens feel."

At the level of the state and sovereignty, Saleh emphasized that "the insistence on the state's monopoly on the use of force and the restoration of national decision-making sends a clear political message that building the economy cannot be separated from building the state," stressing that "there is no strong economy without a strong state, no stable investment without a clear security and sovereign environment, and no stable middle class without institutions operating within the framework of the law."

Regarding the energy sector, he noted that "the government views electricity and energy as more than just service-related matters; they are the foundation of industry, investment, and production, and any real success in this sector can have a positive impact on the entire economy."

He explained that "the government's actions in energy and investment can be interpreted as part of a broader project aimed at transforming Iraq from an economy that consumes its resources to one that can invest them."

Saleh stated that "what is most striking about al-Zidi's experience during this short period is that the government did not hide behind difficult circumstances, but rather tackled the most challenging issues, including corruption, oil revenues, public finances, energy, investment, the private sector, and sovereignty."

He emphasized that "governments are not only judged by the files they close, but also by what they dare to open," pointing out that "the first few months cannot be sufficient to judge the results of reforms that, by their nature, require years, but they can be enough to discern the government's direction and political will."

He clarified that "al-Zidi, in his economic discourse, does not simply propose increasing spending, but rather speaks of reforming the structure of the economy, and he does not address combating corruption as a media campaign, but as a national issue."

He added, "The government does not treat the private sector as a mere guest in the Iraqi economy, but rather as a fundamental partner in wealth creation. It does not view energy as simply a service, but as a foundation for development. Nor does it separate sovereignty and stability from the ability to attract investment and build the economy."

He emphasized that "the government's success in translating its initial proposals into sustainable policies and tangible results means it will not have merely achieved scattered governmental accomplishments, but will have begun to redefine the relationship between the state, the economy, and the citizen."

He pointed out that "the most significant value at the beginning of al-Zaidi's term is the renewed focus on how to transition from a rentier state to a wealth-creating state, and from an economy where the rich get richer as opportunities dwindle for others, to an economy where increased individual wealth contributes to the wealth of society."

Saleh concluded by saying, "The importance of the first hundred days does not lie in achieving everything, but rather in demonstrating that there is a government willing to address long-postponed issues." He explained that "the courage to tackle these difficult files may be the first real achievement, even before its results become apparent on the ground."  link

Iraq Economic News and Points To Ponder Monday Morning 8-17-26

Telecom Minister Claims Dinar Redenomination Finalized, Drawing Criticism

IraqJawad Al-Samarraie     August 16, 2026  Baghdad (IraqiNews.com) — Minister of Communications Mustafa Sanad stated in a televised broadcast that the government decision to redenominate the Iraqi Dinar and delete three zeros from the national currency is officially finalized.  Sanad asserted that replacing the current banknotes will force hoarded cash back into formal banking channels while eliminating an estimated 8 trillion IQD ($6.1 billion) in unexchanged currency tied to illicit gains, corruption, and lost funds.

However, the minister’s pronouncements have triggered backlash from economic monitors over fiscal messaging and central bank authority.

Key Statements & Fiscal Arguments

• Finalized Redenomination: Sanad stated the decision to remove zeros and issue a restructured currency is fully resolved.

• Tackling Hoarded & Illicit Liquidity: Replacing existing currency will compel citizens to deposit hoarded cash into formal banking institutions, bringing idle liquidity back into the national economic cycle.

• Projected 8T IQD Money Supply Contraction: An estimated 8 trillion IQD in physical banknotes may never be submitted for exchange due to illicit origins, criminal gains, or deceased/unclaimed holdings.

• State Balance Sheet Relief: Sanad argued that unexchanged legacy banknotes will permanently exit circulation, meaning the state will not be required to issue equivalent replacement notes, reducing the overall money supply.

Sanad’s declarations prompted criticism from economic monitoring group Eco Iraq Observatory, which rebuked cabinet ministers for announcing sensitive monetary policies outside official central banking channels.

The observatory warned that broadcasting national currency reforms through ad-hoc political interviews rather than institutional communiqués undermines market confidence, fuels currency speculation, and signals fragmented inter-agency coordination. Eco Iraq formally urged the Central Bank of Iraq (CBI) and the Ministry of Finance to issue an official clarification detailing the veracity, operational mechanics, and statutory timeline of any currency restructuring plan.

https://www.iraqinews.com/iraq/sanad-dinar-redenomination-delete-zeros-eco-iraq-reaction-2026/

Iraq Has Finalized Its Decision To Redenominate The Iraqi Dinar By Removing Three Zeros From The National Currency.

Iraqi News@IraqiNews_com   The move is meant to force hoarded cash back into formal banking channels while eliminating an estimated 8 trillion IQD, about $6.1 billion, in unexchanged currency tied to illicit gains, corruption, and lost funds.  

Since old banknotes that are never exchanged will permanently exit circulation, the state won't need to issue equivalent replacement notes, effectively shrinking the overall money supply.  

The announcement has drawn criticism from economic monitoring group Eco Iraq Observatory, which warned that announcing sensitive currency reforms through ad hoc interviews rather than official channels risks undermining market confidence and fueling speculation.  

The group has called on the Central Bank of Iraq and Ministry of Finance to issue an official clarification on the plan's details and timeline.  https://iraqinews.com/iraq/sanad-din

https://x.com/IraqiNews_com/status/2089232903687540927

Economic Observatory: Government Silence Regarding "Currency Change" Is Confusing The Iraqi Dinar Market

2026-08-16 Shafaq News - Baghdad   On Sunday, the Economic Observatory of Iraq criticized the confusion in the government’s discourse, which is represented in announcing sensitive economic and monetary decisions, such as changing the currency, through unqualified entities, amid the silence of the Central Bank of Iraq and the Ministry of Finance.

The observatory stated in a statement received by Shafaq News Agency that "managing a file as large as the national currency through scattered statements, instead of clear official conferences and statements issued by the competent monetary and financial authorities, reflects a weakness in government coordination," explaining that "such confusion opens the door to rumors, speculation, market disruption, and harm to citizens and the country."

The observatory warned that "this ambiguity affects the economic security of citizens and may affect their confidence in the national currency and increase the demand for foreign currencies and gold, thus exacerbating the state of anxiety in the market."

Eco Iraq held the Central Bank and the Ministry of Finance "responsible for clarifying the truth about the decision and any confusion in the Iraqi market resulting from their silence," demanding that the competent authorities "issue an official statement explaining the reasons for changing the currency, the implementation mechanisms, the timetable, and guarantees to protect citizens' savings and market stability."  

https://www.shafaq.com/ar/اقتصـاد/مرصد-اقتصادي-الصمت-الحكومي-زا-تغيير-العملة-يربك-سوق-الدينار-العراقي

Mustafa Sand Reveals A Government Plan To Remove Zeros And Change The Currency... And 8 Trillion Dinars Is The Value Of The "Missing Figures".

Baghdad - One News   Communications Minister Mustafa Sand revealed a government plan to reintroduce the project of removing zeros from the Iraqi dinar and changing the currency, noting that the value of what he described as the “missing figures” amounts to about 8 trillion dinars, in a move that would bring the national currency file back to the forefront of economic discussion after years of raising it and postponing it.

Talk of the project comes amid controversy and questions about its implementation mechanism and its potential repercussions on markets, prices and citizens’ savings, as well as the fate of the large amount of cash circulating outside the banking system.

The idea of removing zeros is based on issuing a new currency and recalculating nominal values after removing three zeros, so that every thousand dinars of the current currency becomes equivalent to one dinar in the new currency, with salaries, prices, savings, debts and contracts being recalculated in the same proportion.

Thus, removing zeros does not in itself mean an increase in the purchasing power of the dinar or an increase in the value of citizens’ savings, but rather represents a renaming and reorganization of monetary values, unless it is accompanied by other changes in monetary policy or the exchange rate.

Changing the currency may give monetary authorities an opportunity to reorganize the money supply and withdraw some of the money circulating outside the banking system, as replacing the old currency with the new one requires introducing large quantities of cash into banks and exchange outlets within a time period determined by the competent authorities.

But the new talk opens the door to questions about the final official position on the project, especially since it comes after a previous government denial, last June, of the existence of an official decision to remove zeros, change the currency, or amend the exchange rate of the dinar.

The government position at the time had confirmed that Iraq was facing a temporary liquidity crisis and not a structural financial crisis, while the Central Bank of Iraq had confirmed in previous statements that there was no intention to change the exchange rate.

Between the new statements and previous positions, the implementation of the project to remove zeros remains contingent on an official announcement clarifying the nature of the decision, its implementation mechanism, and the timetable for currency replacement, as well as how to deal with salaries, savings, contracts, prices, and the cash holdings outside banks. https://1news-iq.net/مصطفى-سند-يكشف-عن-توجه-حكومي-لحذف-الأصف/

106 Trillion Outside Banks... Removing Zeros Unlocks The Vaults Of The Money Supply

Baghdad - Al-Sa'a Network    The Iraqi government's move to revisit the project of removing zeros from the dinar has sparked widespread controversy and concern in the markets, amid questions about the implications of the move on the value of the currency, prices and savings, and whether the project will be limited to renaming the currency denominations or will turn into a tool for reorganizing the money supply and withdrawing funds circulating outside the banking system, according to the "Eram News " website.

The website, in a report seen by Al-Sa’a Network, quoted its sources as saying that “removing the zeros could coincide with the return of funds to the banking system, especially since about 106 trillion dinars, representing about 94% of the total money supply of 113 trillion dinars, is circulating outside banks .”

He added that "returning these funds to bank accounts could allow banks to reinvest them in the form of loans with appropriate interest rates, and direct them to the production, industry, agriculture, trade and real estate sectors, thus turning funds outside the banking system into part of the formal economic cycle ."

He noted that "discussions regarding the removal of zeros are still ongoing, and there is a difference of opinion regarding whether to change the currency or just remove the zeros, and therefore the project has not yet reached the stage of a final decision ."

He explained that "the government's approach and the Central Bank's management aim, within the proposed vision, to withdraw about 10 trillion dinars from the money supply, which is equivalent to about 7.6 billion dollars according to a rate of 1310 dinars to the dollar, and return it to the banking cycle, but the process at the same time has costs and needs to study its effects on the market ." https://alssaa.com/post/show/58808-106-تريليونات-خارج-المصارف-حذف-الأصفار-يفتح-خزائن-الكتلة-النقدية

Removing Zeros Will Include Converting Salaries, Prices, Balances, And Financial Obligations

1 News - One News@onenewsiq    Translated from Arabic   Al-Araby Al-Jadeed newspaper: Removing zeros will include converting salaries, prices, balances, and financial obligations by the same ratio without increasing the citizen's purchasing power. #OneNews https://x.com/onenewsiq/status/2089136372653216214

"It Affects Economic Security": Eco Iraq Criticizes The Proposal To Change The Currency Outside Of Official Institutions And Warns Of Increased Demand For The Dollar And Gold.

The Economic Observatory “Eco Iraq” criticized on Sunday what it described as the confusion in the government’s discourse regarding sensitive economic and monetary issues, particularly talk about changing the currency, warning that the absence of official clarifications from the Central Bank of Iraq and the Ministry of Finance may open the door to rumors, speculation and market confusion.

The observatory said in a statement that managing a file as large as the national currency through scattered statements issued by unqualified parties, instead of clear official conferences or statements from the relevant monetary and financial institutions, reflects a weakness in government coordination and increases the ambiguity about the true directions being proposed.

He added that dealing in this way with a file that is directly related to monetary policy and citizens’ savings may lead to the spread of rumors and speculation in the market, and affect citizens’ view of the stability of the national currency.

Eco Iraq warned that continued uncertainty regarding currency change could affect what it described as the “economic security of citizens” and impact confidence in the Iraqi dinar, potentially leading to increased demand for foreign currencies and gold, and hedging against any possible changes.

The observatory noted that any increase in anxiety levels within the market, as a result of the lack of official information, may be reflected in the movement of demand, prices and economic expectations, especially in light of the sensitivity of issues related to the exchange rate and monetary policy.

The observatory held the Central Bank of Iraq and the Ministry of Finance responsible for clarifying the truth about what is being proposed regarding changing the currency, in addition to addressing any confusion that the market may witness as a result of the continued official silence regarding the issue.

“Eco Iraq” called on the relevant authorities to issue an official statement clarifying the true nature of the proposed approach, its reasons, and the mechanisms for its implementation if there is an actual decision, as well as specifying the timetable and guarantees for protecting citizens’ savings and maintaining market stability.

The observatory stressed that clear official communication and coordination among relevant institutions are essential factors in preventing the spread of inaccurate information and curbing speculation, especially when it comes to monetary decisions that can directly affect citizens' confidence in the national currency and the Iraqi market.  https://1news-iq.net/يمس-الأمن-الاقتصادي-إيكو-عراق-ينتقد/

Iraq Struggles to Contain Volatile Dinar Currency Disparity 

Daban Mohammed

At a Glance

• The Iraqi dinar reached its peak value during the 1970s when one dinar was worth four U.S. dollars.

• Conflict and economic embargoes during the 1990s caused the currency to crash to 3,000 dinars per dollar.

• The Central Bank fixed the official rate at 1,320 IQD, but parallel market rates remain high at 1,530 IQD.

• The government has failed to contain the significant price gap between official state channels and open market vendors.

Channel8 has learned that decades of geopolitical conflict, sanctions, and market resistance have left Iraq unable to bridge the gap between its official 1,320 IQD peg and parallel market rates exceeding 1,530 IQD, cementing a historic decline from its four-dollar peak in the 1970s. 

Key Statements and Focus Area

• On current market disparity: A persistent, wide gap remains between Iraq's official and market exchange rates, with open markets trading at 1,530 IQD despite the Central Bank's 1,320 IQD official peg.

• On structural historical declines: This modern monetary disparity mirrors the volatile historical trajectory of the Iraqi dinar, which collapsed from its historic peak of four dollars per dinar to some of its lowest historical levels.

• On modern monetary interventions: Although the government devalued the dinar to 1,460 IQD in 2021 due to crashing oil revenues and later revalued it to 1,320 IQD in 2023, the market resisted, with street prices occasionally spiking to 1,700 IQD.

Chronological Eras of the Iraqi Dinar Value

• 1968–1979 (The Peak): The currency maintained its absolute highest valuation, trading at a stable rate of 1 IQD to $4.00 USD.

• 1980–1988 (The Iran-Iraq War): Wartime economic strain caused a minor depreciation, adjusting the value to 1 IQD to $3.30 USD.

• 1991–2003 (The Sanctions Era): Under a crushing economic blockade and excessive domestic printing, the currency collapsed to 3,000 IQD to $1 USD.

• 2004–2021 (Post-War Stabilization): The introduction of a new currency stabilized the market, keeping exchange rates steady between 1,180 IQD and 1,200 IQD per dollar.

In recent weeks, the Iraqi dinar strengthened against the U.S. dollar, with the exchange rate dropping from a peak of nearly 160,000 IQD to 153,000 IQD per 100 dollars.

This decline was driven by the U.S. government lifting restrictions on several private Iraqi banks and the Central Bank of Iraq addressing rumors of currency devaluation.

Market traders told Channel8 that ongoing government financial stabilization measures, including organized customs duty collections via the ASYCUDA system, helped restore public sector confidence, keeping the dollar from climbing back to its June peaks.

Speaking to Channel8 today, Jabar Goran, spokesperson for the Slemani Currency Exchange Market, highlighted that deleting zeros from the dinar would compel holders of hidden cash reserves to disclose their origins, effectively rendering tens of trillions in illicit funds unusable.

Goran also dismissed rumors of an Iraqi dinar exchange-rate adjustment, stating that a devaluation is unnecessary because rising revenues have offset increased expenditures.

The spokesperson previously predicted that if regional geopolitical tensions ease and vital maritime trade channels like the Strait of Hormuz remain stable, the parallel market exchange rate could significantly strengthen, potentially dropping down to a range between 146,000 and 147,000 IQD per $100 USD.

FYI

The Iraqi dinar was originally introduced into circulation in 1932. Following the regime change in 2003, the Coalition Provisional Authority introduced an entirely overhauled banknote series widely known as the "Bremer Print."

This new issue systematically replaced both the pre-1991 high-quality "Swiss Print" and the poorly printed, easily counterfeited banknotes produced locally during the 1990s sanctions era.

This monetary timeline demonstrates that prolonged foreign wars, domestic mismanagement, and geopolitical shifts remain the primary drivers behind the dynamic instability of the dinar against global currencies.  

https://channel8.com/english/news/63882

Seeds of Wisdom RV and Economics Updates Monday Morning 8-17-26

Good Morning Dinar Recaps,

The Bond Market Is Repricing the Global Financial System

August 17, 2026

The most important financial signal may not be coming from a central bank. It may be coming from the bond market. After the U.S. 30-year Treasury auction produced a 5.216% yield, long-term borrowing costs have moved into territory that would have seemed extraordinary during the low-rate era. Now, rising yields are appearing across other major sovereign bond markets as investors reassess inflation, government debt and the future path of interest rates.

 Overview

• The U.S. Treasury's latest 30-year auction produced a 5.216% yield, the highest auction yield since 2001, highlighting the rising cost of long-term government financing.

• Japan's 10-year government bond yield has now reached a three-decade high,showing that the pressure on sovereign debt markets extends beyond the United States.

• Investors are increasingly confronting a difficult combination of large government debt loads, inflation risk and higher-for-longer borrowing costs, potentially changing how capital is priced across the global economy.

Key Developments

1. The U.S. bond market has crossed an important threshold

The Treasury's August 13 sale of $25 billion in 30-year bonds cleared at 5.216%. That was substantially above the 5.058% yield at the previous comparable auction.

The significance goes beyond the individual auction.

The 30-year Treasury is one of the most important benchmarks for long-term borrowing throughout the U.S. economy. When its yield rises, the effects can spread into mortgages, corporate borrowing, real estate, infrastructure financing and investment valuations.

Federal Reserve data shows the 30-year Treasury market yield was around 5.21% on August 13, confirming that the elevated auction yield was consistent with broader market conditions rather than an isolated auction result.

The cost of financing the world's largest sovereign debt market is being repriced.

2. The pressure is spreading beyond the United States

The development becomes more significant when viewed internationally.

Japan's 10-year government bond yield climbed to approximately 2.93% on August 17, its highest level since 1996 and close to the psychologically important 3% threshold.

Japan is particularly important because its government has operated for decades with exceptionally low interest rates.

A major change in Japanese bond yields therefore has implications beyond Japan. Higher domestic yields can alter where Japanese investors place capital, potentially affecting global bond markets, currencies and international investment flows.

At the same time, euro-zone government bond yields are also near multi-year highs as investors weigh inflation risks associated with the Middle East conflict.

This is beginning to look less like a single-country bond-market problem.

It is becoming a global repricing of sovereign risk and the cost of money.

3. Central banks are losing some control over the long end of the market

This is one of the most important distinctions for understanding what is happening.

Central banks control—or strongly influence—short-term interest rates.

They do not directly control where investors ultimately decide that 10-, 20- or 30-year government debt should trade.

The Federal Reserve could eventually lower its policy rate while long-term Treasury yields remain elevated if investors continue demanding greater compensation for inflation, fiscal risk and the supply of government debt.

That creates a potentially uncomfortable environment for policymakers.

Short-term rates could fall while long-term borrowing costs remain high.

That would make a traditional monetary-policy recovery more difficult.

4. Government debt is becoming increasingly sensitive to interest rates

Higher yields matter because governments must continually refinance existing debt while issuing new debt to finance deficits.

The higher the interest rate, the greater the cost of that refinancing.

This creates a structural feedback loop:

Higher debt → greater issuance → greater supply of bonds → investors demand more yield → higher borrowing costs → larger interest expense → greater fiscal pressure.

This does not mean the United States is approaching a default.

It means interest expense is becoming an increasingly important component of fiscal policy.

And the same basic issue exists in many other highly indebted economies.

5. Japan illustrates how monetary policy, currency markets and bonds are becoming interconnected

Japan provides an especially useful example because its bond-market pressures are occurring alongside significant yen volatility.

The yen has remained under pressure despite recent U.S.-Japan intervention, while investors increasingly expect the Bank of Japan to consider additional rate increases.

That creates a chain reaction:

Yen weakness → higher import costs → inflation pressure → higher Japanese rates → higher JGB yields → changes in global capital flows.

The same basic connections are appearing elsewhere.

Currency markets, central banks and sovereign bond markets can no longer be treated as separate stories.

 Why It Matters

For years, investors operated in an environment where extremely low interest rates made borrowing relatively inexpensive and encouraged capital into stocks, real estate and other higher-risk assets.

That environment is changing.

A 5%-plus long-term Treasury yield gives investors an alternative to assets that must depend on future growth or appreciation.

When the risk-free rate rises, the hurdle for virtually every other investment rises with it.

This can affect:

• Equities Future corporate earnings are discounted at higher rates.

• Real estate Higher financing costs can pressure property valuations.

• Corporate debt Companies must pay more to refinance.

• Emerging markets Higher developed-market yields can attract capital away from emerging economies.

• Currencies Interest-rate differences can produce significant capital flows.

The bond market therefore acts as a transmission mechanism for the repricing of the entire financial system.

Why It Matters to Foreign Currency Holders

This development is particularly important for anyone watching foreign currencies.

Currency values are influenced by interest-rate differentials, capital flows, trade balances, inflation and investor confidence.

If U.S. long-term yields remain substantially higher than those available elsewhere, global investors have a strong incentive to consider dollar-denominated assets.

But if rising U.S. debt and higher yields eventually create concerns about fiscal sustainability, the relationship becomes more complicated.

That is why a changing bond market deserves attention alongside currency markets.

The next major currency move could be influenced as much by sovereign debt and capital flows as by traditional foreign-exchange fundamentals.

Implications for the Global Reset

• Debt: Higher yields increase the cost of financing and refinancing government debt, making debt sustainability a more important component of global financial policy.

• Central Banks: Monetary authorities may discover that cutting short-term rates does not automatically bring long-term borrowing costs down.

• Currencies: Capital is increasingly being allocated according to differences in yields, inflation expectations and perceived fiscal strength.

• BRICS: Higher borrowing costs and greater sensitivity to the dollar-centered financial system may provide additional incentives for emerging economies to develop local-currency settlement and alternative payment infrastructure.

• Global Finance: The financial system may be moving toward an environment in which the price of sovereign debt—not simply central-bank policy—plays a larger role in determining the cost and direction of global capital.

What to Watch

• Whether the U.S. 30-year Treasury yield remains above 5%.

• Whether Japan's 10-year yield approaches or breaks the 3% level.

• Whether European sovereign yields continue rising.

• Whether central banks begin cutting short-term rates while long-term yields remain elevated.

• Whether higher government borrowing costs begin influencing fiscal policy.

• Whether investors increasingly diversify toward gold, commodities and non-dollar assets.

Bottom Line

The Global Financial Reset does not necessarily require a dramatic announcement, a new world currency or the collapse of the existing monetary system.

It can begin with prices.

When investors demand a different return to finance governments for 10, 20 or 30 years, the cost of capital throughout the economy changes.

The recent U.S. 30-year Treasury auction above 5.2%, followed by a three-decade high in Japan's 10-year government bond yield, suggests that this repricing is no longer confined to one market.

The significance is not that a financial reset has already occurred.

The significance is that the assumptions underlying the previous financial era are being challenged by the bond market itself.

Why This Could Be a Global Financial Reset Signal

The post-2008 financial system was built around very low interest rates, abundant liquidity and relatively inexpensive sovereign borrowing.

The emerging environment looks different.

Governments face enormous debt loads.
Inflation remains a risk.
Energy markets remain vulnerable to geopolitical shocks.
Central banks have less room to maneuver.
And investors are demanding more compensation for holding long-term government debt.

At the same time, countries outside the traditional Western financial core are developing local-currency trade, alternative payment systems and new sources of development financing.

That combination is worth watching.

The old system does not have to collapse for the financial architecture to change.

It only has to become progressively more expensive, more diversified and more sensitive to the underlying cost of capital.

Closing Perspective

The next major phase of the global financial reset may not be announced by a central bank—it may be priced into the bond market first, as investors force governments, currencies and policymakers to adjust to a world where the cost of capital is no longer close to zero.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Council on Foreign Relations — Treasury Auction Yield Hits Highest in 25 Years

• Reuters — Global markets and the latest bond, currency and rate developments

~~~~~~~~~~

🌱 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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Thank you Dinar Recaps

“An Earthquake Is Coming”: The Debt Warning Investors Cannot Ignore | Francis Hunt

“An Earthquake Is Coming”: The Debt Warning Investors Cannot Ignore | Francis Hunt

Miles Franklin Media:  8-15-2026

Andy Schectman, Founder & CEO of Miles Franklin Precious Metals, interviews Francis Hunt, market analyst and Founder of The Market Sniper, to examine growing stress in the U.S. Treasury market and the implications for gold, silver and global wealth preservation.

Hunt argues that the simultaneous decline in Treasury prices and the U.S. dollar represents a significant warning about confidence in the Western debt-based financial system.

He explains why rising yields may reflect a shortage of willing buyers rather than economic strength, how Japan’s need for liquidity could expose vulnerabilities in the Treasury market and why the yen carry trade could affect bonds, technology stocks and other risk assets.

The conversation also explores the shift toward gold-based settlement systems, central-bank gold accumulation and the growing importance of physical precious metals as confidence in sovereign debt weakens. Hunt discusses gold’s role as enduring money, silver’s supply-demand imbalance and why investors may increasingly prioritize the return of capital over the return on capital.

In this episode of Little by Little:

Warning signs in the U.S. Treasury market

Why bonds and the dollar are falling together

Japan, the yen carry trade and global contagion

The liquidity risk facing major Treasury holders

Why the Fed may be trapped

China and emerging gold settlement infrastructure

Gold as money and a wealth-preservation asset

Silver’s supply-demand imbalance and upside potential

Currency debasement, inflation and investor protection

How a debt crisis could spread across Western markets

00:00 Coming Up

02:13 Introduction

03:33 S&P Illusion Two Tier Economy

05:58 Yen Carry and Treasury Stress

09:40 Hotel California Bonds

14:18 Trust Breakdown and Gold Shift

15:42 Global South Parallel Rails

20:13 Gold Infrastructure and Taxes

25:50 Signals to Watch

32:37 Carry Trade Hits Tech

34:23 Lightning Round Takes

37:56 Biggest Investor Mistake

39:46 Where to Follow and Final Advice

41:55 Closing Thanks and Outro

https://www.youtube.com/watch?v=whr_70iQprM

Fifty-Five Years of Fiat Failure: Peter Schiff

Fifty-Five Years of Fiat Failure

Peter Schiff: 8-15-2026

Peter Schiff marks 55 years since Nixon closed the gold window and warns the coming inflation will dwarf the stagflation of the 1970s.

Peter Schiff marks the 55th anniversary of August 15, 1971, the day Nixon closed the gold window and defaulted on the Federal Reserve's promise to redeem dollars in gold.

 He explains how deficit spending in the 1960s on the Great Society, Vietnam, and Apollo forced the choice between painful fiscal discipline and default, and how Nixon chose default disguised as reform.

Schiff traces the fallout: the collapse of the dollar's purchasing power, gold soaring from $35 to $850 by 1980, stagflation that confounded Keynesians, and the erosion of single-income American households.

Freed from gold's discipline, the government ran up massive debts, hollowed out the industrial base, and turned the world's largest creditor into its biggest debtor, with the national debt exploding from under $400 billion to over $28 trillion.

He argues gold is as underpriced today as it was in 1971, that the Fed under Warsh is stoking the very inflation it claims to fight, and that just as the world went off the gold standard, it will soon go off the dollar standard with far more devastating consequences.

His advice: follow Charles de Gaulle's example and exchange fiat money for real money before it's too late.

Chapters:

00:00 Nixon Shuts Gold Window

00:48 How Dollars Became Paper

03:08 1960s Spending Hits Limits

04:35 Nixon Chooses Default

06:51 Stagflation Fallout

09:05 Reserve Currency Abuse

10:23 Debt and Dollar Reckoning

11:12 2026 Inflation Warning

12:09 Protect Yourself With Gold

12:42 Final Call to Action

https://www.youtube.com/watch?v=dLwyxz19FH8

Iraq Economic News and Points To Ponder Sunday Afternoon 8-16-26

Anti-Graft Raid Nets $6.7M, Gold From Iraqi Electricity Official

2026-08-16 Shafaq News- Baghdad  Iraq seized more than $6.7 million in cash, along with gold bars and jewelry, from several homes belonging to Khalid Ghazi Atiyah, deputy minister of Electricity for Transmission and Distribution Affairs, who recently faced allegations of financial and administrative corruption.

The Federal Integrity Commission reported on Sunday that its investigators recovered 1.175 billion Iraqi dinars ($895,000) and $5.839 million. They also found seven gold bars and gold jewelry.

A security source told Shafaq News on Friday that Iraqi security forces had detained Atiyah over corruption allegations.

Last month, the Electricity Ministry dismissed the general manager of the Central Electricity Distribution Company, Alaa Samir, and his office director over corruption allegations. Eight department heads were also penalized over accusations of organizing fictitious and forged transactions.

Read more: Corruption arrests in Iraq pass 210 under PM al-Zaidi

https://www.shafaq.com/en/Security/Anti-graft-raid-nets-6-7M-gold-from-Iraqi-electricity-official

 Iraq Ranks Fourth Among Turkiye's Foreign Homebuyers

2026-08-16  Shafaq News- Ankara/ Baghdad   Iraqis sharply increased their home purchases in Turkiye in July, buying 144 properties compared with 98 in June and moving up to fourth place among foreign buyers, the Turkish Statistical Institute (TURKSTAT) reported on Sunday.

Iraqi buyers also acquired eight commercial properties in July, twice the four recorded in June.

Russian citizens led foreign home sales in July with 394 properties, followed by Iranians with 189 and Ukrainians with 145. Iraqis placed fourth, just one purchase behind Ukrainian buyers, marking a notable rise from June, when they were in sixth place.

In commercial property sales, Russians also topped the list with 22 purchases, followed by Iranians with 18 and Azerbaijanis with 13.

https://www.shafaq.com/en/Economy/Iraq-ranks-fourth-among-Turkiye-s-foreign-homebuyers

President Barzani Opens Secret US-IRGC Diplomatic Channel

2026-08-Shafaq News- Washington  Kurdistan Region President Nechirvan Barzani helped establish a secret channel between the US administration and Iran's Islamic Revolutionary Guard Corps (IRGC), Axios reported on Sunday, as Washington sought to determine whether the powerful military force backed negotiations to end the February 28 war.

The channel emerged in mid-May, when US officials were uncertain whether Iranian Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi had the authority to reach a deal with Washington or whether the IRGC could block any agreement.

Citing three sources with direct knowledge of the contacts, Axios disclosed that the White House turned to Barzani because of his longstanding ties with both Washington and Tehran and his contacts with senior Iranian officials.

Around May 10, then-US Director of National Intelligence Tulsi Gabbard contacted Barzani with the approval of US President Donald Trump, asking him to help establish direct contact with IRGC commander General Ahmad Vahidi. On May 14, an Iranian official brought an encrypted phone to Barzani's office in Erbil, enabling the two men to hold a secure call.

During the call, Barzani asked whether the IRGC supported the negotiations. Vahidi responded positively, and the information reached Gabbard, who relayed it to the White House.

Read more: President Barzani's diplomatic odyssey in Tehran

The contacts subsequently expanded into a proposal for a secret meeting between senior US and Iranian officials in Erbil, with Barzani serving as host and intermediary. Iran did not reject the proposal outright but raised security concerns, including fears that Israeli intelligence had an extensive network in the Kurdistan Region and that members of an Iranian delegation could be targeted in Erbil or while traveling to and from Iran. The meeting ultimately did not take place.

Barzani has since offered the White House further assistance in restarting the negotiations, as disputes over the Strait of Hormuz and broader regional security issues continue to hinder implementation of the US-Iran memorandum of understanding (MoU) signed on June 18, Axios reported.

Read more: Iraq stands to gain most from US-Iran deal, analysts warn of fragile foundations

https://www.shafaq.com/en/Kurdistan/President-Barzani-brokered-secret-US-IRGC-diplomatic-channel

 Electricity Minister Dismisses Senior Official Over Poor Performance

2026-08-16 Shafaq News- BaghdadIraq's Minister of Electricity, Ali Saadi Wahib, dismissed Nizar Qahtan Hassan as Director General of the ministry's Training and Energy Research Department, citing his failure to perform his official duties.

According to an official document, Hassan was reassigned to a position one grade below the rank he held before becoming director general.

Wahib took office as electricity minister in May 2026 under Prime Minister Ali al-Zaidi's government. Since then, he has dismissed several officials, including the general manager of the Central Electricity Distribution Company, Alaa Samir, and his office director, over corruption allegations.

Read more: Iraqi authorities detain 31 in weekly corruption cases

https://www.shafaq.com/en/society/Electricity-Minister-dismisses-senior-official-over-poor-performance 

SCOOP: Iraq In Talks With US-Iran Over Hormuz Oil Shipments

2026-08-16   Shafaq News- Baghdad   Iraq is holding direct talks with the United States and Iran to secure uninterrupted passage for tankers carrying Iraqi crude through the Strait of Hormuz, lawmaker Zainab al-Khazraji told Shafaq News on Sunday.

Al-Khazraji, a member of parliament's Oil, Gas, and Natural Resources Committee, said Baghdad was engaging both sides because different shipping routes through the strait “were controlled by US and Iranian forces.”

The talks are aimed at securing permanent, rather than temporary, passage for tankers carrying Iraqi crude and shielding exports from regional security disruptions.

Al-Khazraji noted that Iraq's oil exports have risen by 60% after falling below one million barrels per day at the start of the war. Shipments subsequently recovered to around 1.5 million bpd and have now exceeded two million bpd.

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed

She expected exports to continue recovering toward three million bpd, which would “increase state revenue and help fund public-sector salaries in the coming months.”

Iraq, which derives about 90% of state revenue from oil, produced around four million bpd before the war with Iran began on Feb. 28 and exported an average of 105 million barrels per month, mostly from southern terminals in Basra through the Strait of Hormuz. The waterway previously carried about 20% of global energy supplies.

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

Iran's closure of the strait forced Iraq to halt production at most fields as storage capacity filled, leaving Baghdad reliant on limited alternative export routes, including tanker trucks through Syria and the pipeline through Turkiye to the Mediterranean port of Ceyhan.

The strait briefly reopened after a memorandum of understanding with Washington in June, before Tehran again restricted shipping following the resumption of hostilities in early July.

Iraq exported about 49 million barrels of crude in July, more than 30 million of them through the Strait of Hormuz, according to the Oil Ministry.

Read more: Energy war nears Iraq: Oil infrastructure faces rising threat

https://www.shafaq.com/en/Economy/SCOOP-Iraq-in-talks-with-US-Iran-over-Hormuz-oil-shipments

Fire Destroys 10 Tents At Duhok's Shariya Camp

2026-08-16 Shafaq News- Duhok   A fire tore through 10 tents at Shariya displacement camp in Iraqi Kurdistan’s Duhok province on Sunday, causing “extensive” property damage but no injuries, a local official told Shafaq News.

Shivan Issa from the province’s Migration and Displacement Directorate media office told Shafaq News that the civil defense teams extinguished the blaze and prevented it from spreading to neighboring tents. Security authorities opened an investigation into the cause.

Duhok province hosts one of Iraq’s largest displaced populations, with 15 camps sheltering more than 300,000 internally displaced people. Shariya Camp alone houses about 9,350 residents, according to UN data.

In January, another fire at the camp destroyed two tents and left several families without shelter.

https://www.shafaq.com/en/Kurdistan/Fire-destroys-10-tents-at-Duhok-s-Shariya-camp

Seeds of Wisdom RV and Economics Updates Sunday Afternoon 8-16-26

Good Afternoon Dinar Recaps,

Central Banks Face a New Dilemma: Inflation, Oil and Debt Collide

August 16, 2026

The global economy is entering a difficult policy intersection: inflation is proving harder to contain, geopolitical tensions are threatening energy prices, economic growth is slowing, and governments are carrying increasingly expensive debt. For central banks, the traditional choice between fighting inflation and supporting growth is becoming considerably more complicated.

Overview

• Oil and geopolitical risk are keeping inflation concerns alive even as economic growth shows signs of weakening.

• Central banks face a difficult choice: maintain restrictive rates and risk worsening economic conditions, or ease policy and risk reigniting inflation.

• At the same time, rising government borrowing costs are creating a second pressure point, particularly as long-term bond yields remain elevated despite softer recent U.S. inflation data.

Key Developments

1. The inflation fight is colliding with weaker growth

Central banks entered 2026 hoping that inflation would continue moving toward their targets without causing a major economic slowdown.

That assumption is becoming less certain.

Today's analysis points to a growing policy dilemma: economic activity is losing momentum while inflation remains persistent enough to prevent central banks from simply declaring victory. The Federal Reserve, Bank of England and European Central Bank are all confronting different versions of the same problem.

This creates a particularly difficult environment for monetary policy.

If central banks keep rates high for too long, borrowing becomes more expensive and economic growth can weaken further.

If they cut rates too aggressively while inflation remains vulnerable to another shock, they risk allowing price pressures to return.

2. Oil has become the potential trigger for another inflation wave

The ongoing conflict involving Iran and continuing uncertainty around the Strait of Hormuz have added a major variable to the inflation outlook.

Energy prices affect far more than gasoline.

Higher oil costs eventually work their way into transportation, manufacturing, food production, shipping and consumer prices.

That means central banks could face a situation in which inflation rises because of an external energy shock at precisely the moment economic growth is weakening.

The Guardian reports that this possibility is complicating the policy calculations of major central banks, which remain cautious after the inflation surge of 2022.

3. The bond market is sending a different signal from short-term inflation data

This may be the most important financial development.

Recent U.S. inflation data has been softer, reducing expectations for an immediate Federal Reserve rate increase. Yet long-term Treasury yields have remained elevated.

Reuters reported that the U.S. Treasury's recent 30-year bond sale produced its highest yield in 25 years, highlighting concerns about persistent inflation and the enormous amount of government debt that must continue to be financed.

That creates an important distinction:

The Federal Reserve controls short-term policy rates.

The bond market determines the price investors demand for holding long-term government debt.

Those two forces do not always move together.

And that difference matters enormously when governments are running large deficits.

4. Debt is becoming part of the monetary-policy equation

Higher interest rates are not simply a problem for consumers and businesses.

They also increase the government's cost of financing its debt.

When long-term Treasury yields remain above historical norms, the government must refinance maturing debt and finance new borrowing at increasingly expensive rates.

This creates a difficult feedback loop:

Higher inflation risk → higher bond yields → higher government borrowing costs → greater fiscal pressure → greater sensitivity to interest rates.

Central banks therefore have to consider not only inflation and employment, but also the financial stability consequences of keeping rates restrictive while sovereign debt loads continue expanding.

That does not mean central banks will automatically lower rates to make government borrowing cheaper.

It does mean the interaction between monetary policy and fiscal policy is becoming increasingly important.

5. The global bond market is becoming a structural story

The pressure is not limited to the United States.

Today's market analysis points to rising concerns about government bonds internationally as investors reassess the outlook for inflation, interest rates and government borrowing.

This is important because government bonds have traditionally been viewed as the foundation of the global financial system.

When yields rise, the consequences spread across virtually every major asset class.

Higher government yields can make stocks less attractive, increase borrowing costs for corporations and households, pressure real estate valuations and change the attractiveness of emerging-market investments.

The bond market is therefore becoming a transmission mechanism for the broader global financial transition.

Why It Matters

The central-bank dilemma is no longer simply “Will the Fed cut or raise rates?”

The larger question is whether central banks can maintain price stability while governments, consumers and businesses adapt to higher long-term financing costs and a potentially unstable energy environment.

The 2020s have already demonstrated how quickly an external shock can move from energy markets into inflation, interest rates, currencies and financial markets.

The current environment contains many of those same connections.

But there is an important difference this time:

Government debt levels are substantially larger.

That makes the consequences of higher interest rates more significant.

Why It Matters to Foreign Currency Holders

Foreign currencies are affected by this environment through interest-rate differentials, capital flows, trade balances and energy costs.

If the Federal Reserve maintains higher rates while other central banks ease, capital can continue flowing toward dollar-denominated assets.

But if inflation forces multiple central banks to remain restrictive, the result could be a much more complicated global currency environment.

Energy-importing countries may face additional pressure if oil prices rise, while major commodity and energy exporters could benefit from stronger export revenues.

For foreign-currency holders, the key issue is therefore not simply whether the dollar rises or falls.

It is whether the global monetary system is entering a period in which currencies increasingly respond to competing forces of debt, energy, inflation and geopolitical risk.

Implications for the Global Reset

Debt: Rising long-term yields increase the cost of refinancing massive government debt loads and could make fiscal sustainability an increasingly important market issue.

Central Banks: Monetary authorities have less room to pursue a simple growth-versus-inflation strategy when energy prices and sovereign debt are simultaneously creating new risks.

Trade Architecture: Higher energy costs and currency volatility can reshape trade flows, production costs and the competitiveness of different economies.

BRICS: Commodity-producing nations and countries seeking greater monetary diversification could gain additional incentives to strengthen local-currency trade and alternative payment arrangements.

Global Finance: The growing interaction between sovereign debt, central-bank policy, energy markets and currencies is gradually changing how capital is priced throughout the international financial system.

What to Watch

• Oil prices and developments affecting the Strait of Hormuz.

• The Federal Reserve's upcoming policy guidance and September rate expectations.

• Whether long-term Treasury yields remain elevated despite softer inflation data.

• Inflation readings in the United States, United Kingdom, Europe and Japan.

• Whether higher sovereign borrowing costs begin producing broader financial-market stress.

Bottom Line

The global economy is approaching a point where inflation, energy, monetary policy and government debt can no longer be viewed as separate stories.

A renewed oil shock could keep inflation elevated.

Persistent inflation could keep central banks from cutting rates.

Higher rates can increase sovereign borrowing costs.

And rising government debt can place additional pressure on bond markets.

That creates a financial environment very different from the ultra-low-rate era that followed the 2008 financial crisis.

The important question now is not simply when central banks will cut rates.

It is whether the global financial system can absorb higher borrowing costs, elevated debt and renewed energy-driven inflation at the same time.

Closing Perspective

The next major financial shift may not begin with a central-bank announcement—it may emerge from the collision between energy prices, sovereign debt and the bond market, forcing policymakers to reconsider how much monetary flexibility the existing financial system can still support.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• The Guardian — Interest rate dilemma for central banks as inflation rises but growth slows

• Reuters — Hot yields, cool prices: global markets and central-bank policy

~~~~~~~~~~

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Thank you Dinar Recaps

Sunday Iraq News Posted by Tishwash at TNT 8-16-2026

TNT:

Tishwash:  Iraq Communication Minsters Mentions Plan To Remove Zeros in an Interview

Don't read anything else into this other than the words there

He was interviewed and mentioned there is a plan to do it

It is not an announcement and no date was given

It is still pretty cool!  

Tishwash:  Parliamentary Finance Committee: Removing zeros from the Iraqi dinar is under discussion at the Central Bank.

Member of the Parliamentary Finance Committee, Ahmed Hama Rashid, revealed today, Saturday, that the issue of removing zeros from the Iraqi dinar is being discussed in the corridors of the Central Bank.

Rashid said in a press statement to “Al-Jarida” that the project is linked to the goal of raising the purchasing power of the dinar, noting that the idea was put forward since the time of the civil administrator Paul Bremer, and it also aimed to address what is known as the “monetary illusion,” since the circulation of millions of dinars gives the impression of owning large sums of money.

 He added that removing zeros aims to simplify cash transactions and reduce the volume of numbers circulating in Iraqi currency.  link

Tishwash:  Oil company signs agreement with Japan's JGC to boost gasoline and liquefied gas production

 The Ministry of Oil signed an agreement on Friday with the Japanese company JGC to boost production capacity for gasoline, gas oil, and liquefied petroleum gas (LPG).

In a statement received by Mawazin News, the Ministry of Oil said, "The ministerial negotiating committee, under the supervision and guidance of Oil Minister Basim Mohammed Khudair Al-Abadi, and chaired by the ministry's advisor, Hamid Younis, with the participation of the Director General of the South Refineries Company, Hussam Hussein Wali, reached an agreement with the Japanese company JGC, the operator of the FCC catalytic cracking project, to resume work on the project on August 10, 2026."

The statement added that "the company has begun transferring its personnel to the project site and resuming operational work and the necessary preparations for the units to complete the project and operate it at its design capacity.

 The project will contribute an additional 5 million liters per day of gasoline, approximately 7 million liters per day of gas oil, and 400 tons per day of LPG."  link

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Tishwash:  Despite the decline in the central bank's reserves, an economist told Iraq Observer: Al-Zidi is launching financial reforms and attracting investments to boost the Iraqi economy.

 Prime Minister Ali Faleh al-Zaidi's recent actions have highlighted significant economic achievements. He announced a program and performance-based budget for the first time, linking government spending to results in a move aimed at improving the efficiency of public finances.

He also launched a series of financial reforms, including austerity measures and salary restructuring, along with initiatives to encourage employees to take extended leave at half pay to ease pressure on the budget.

Economist Idris Ramadan emphasized that Prime Minister al-Zaidi's initiatives to attract global investment and implement financial reforms came despite the decline in the Central Bank's reserves to 102 trillion dinars.

Ramadan told Iraq Observer that “sovereign expenditures, including employee salaries, are increasing year after year, hindering the government’s efforts to achieve monetary stability.”
He added that “the government has initiated reform measures such as granting employees five-year leave at half pay, adopting austerity policies, and opening the door to foreign investment, including American investment, to alleviate pressure on foreign currency reserves.”

He continued, “These steps aim to protect the Central Bank from depletion and ensure the sustainability of reserves, at a time when the Iraqi economy remains hostage to fluctuating oil prices and high government spending.”

Ramadan concluded by saying that “the Prime Minister has focused on attracting global investment, with major companies, including American and European ones, expressing interest in entering the Iraqi market, which enhances opportunities for economic diversification and reducing dependence on oil.

He also emphasized combating corruption and creating a secure investment environment, as all these reforms aim to protect the Central Bank’s foreign currency reserves and ensure financial stability.”  link

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Tishwash:  Exclusive: A comprehensive assessment of Iraqi bank management paves the way for anticipated restructuring.

An informed source revealed on Saturday that there is a government trend to conduct a comprehensive evaluation of the performance of the administrations of state-owned banks, while exploring the possibility of making administrative changes in a number of banks, due to their "weak" contribution in supporting the government and citizens under the current financial circumstances.

According to the source who spoke to Shafaq News Agency, government banks are facing criticism regarding their limited role in supporting citizens, particularly in providing loans, advances, and banking services that would alleviate the financial burdens on citizens, in addition to supporting economic activity and introducing technologies and electronic systems into their work.

According to the source, there is a need to comprehensively reassess the performance of the managers of government banks, measure the level of development achieved in their institutions, and assess their ability to improve and expand banking services in line with the needs of citizens and the requirements of the current stage.

According to the source, appropriate administrative measures will be taken against those found to be negligent, especially since some government banks still rely heavily on paper procedures, with limited use of electronic systems, in addition to considering changes in departments that have not been able to make a tangible contribution to the performance of banks or develop their services.

He stressed that the next stage requires more effective banking administrations capable of supporting the national economy and enhancing the role of the banking sector in facing financial challenges, through developing services and expanding the scope of loans and advances provided to citizens.

The source concluded that the reassessment of the performance of government banks comes within the framework of seeking to raise the efficiency of government financial institutions and enhance their ability to provide banking services, loans and advances, in a way that contributes to supporting citizens and driving the economy   link