What Happens If the U.S. Economy Crashes?

What Happens If the U.S. Economy Crashes?

By   Kimberly Amadeo   Updated on August 28, 2024

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

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

Will the U.S. Economy Collapse?

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

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

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

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

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

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

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

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

Dow Jones Industrial Stock Price Index: 1925–1960

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

Collapse Versus Crisis

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

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

1970s Stagflation

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

1981 Recession

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

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

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

TNT:

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

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

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

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

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

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

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

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

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

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TishwashL  MP: Economic reform begins with activating the private sector

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

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

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

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

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

A step backward and an international alarm bell

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

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

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

Compliance costs and parallel market pressures

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

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

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

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

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

FATF decision and justifications for international listing

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

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

Government priorities and anticipated financial reform

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

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

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

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

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

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

Partial financial gains

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

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

Risks of "dollarization" and recession

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

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

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

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

A wave of inflation and deepening poverty

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

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

News, Rumors and Opinions Sunday 6-21-2026

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

RV Excerpts from the Restored Republic via a GCR Update as of Sun. 21 June 2026

Compiled Sun. 21 June 2026 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: It’s my personal opinion based on the below that we could anticipate Tier4b (us, the Internet Group) being notified to set exchange appointments sometime between Mon. 22 June 22 and Sun. 28 June.

On Mon. 2 March President Trump signed Executive Order 14178 — banning CBDC development and ordering a “digital asset strategic reserve.”

Since Mon. 1 June Redemption Centers in 14 cities have (allegedly) been staffed and operational. Military personnel were present at each location. NDAs would be required.

On Tues. 9 June 2026 the new gold/asset-backed Quantum Financial System (allegedly) went full global through the Starlink Satellite System.

On Wed. 10 June 2026 the old Cabal SWIFT System (allegedly) processed it’s last transaction.

On Thurs. 11 June 2026 at 4:47 am EST the old banking SWIFT System (allegedly) died when JP Morgan executed its FIRST live transaction through the XRP Ledger.

On Tues. 16 June 2026 Congress(allegedly)  passed a bill that prohibited the Cabal from producing the fiat digital dollar (because the new gold/asset-backed currency was already in place across 209 nations).

Between Mon. 22 June and Sun. 28 June Tier4b (us, the Internet Group) notifications will be(allegedly)  sent out. The first wave covered 1.2 million verified accounts.

On Sat. 4 July 2026 President Trump would (allegedly) announce the new gold standard currency.

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

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

Judy Note: No one knows the exact date for notification of appointments for Tier4b (us, the Internet Group) to exchange foreign currencies, but deadlines shown in the above Timing indicate it to be very soon. We have been told that Wells Fargo, which is controlled by the Chinese Elders – (the ones who own the gold behind the Global Currency Reset) – will send out emails to currency and bond holders worldwide telling them how to set redemption & exchange appointments. It is advised to exchange/redeem your foreign currency at an official Redemption Center (RC) rather than a bank. You can only (allegedly) redeem Zim at a RC, the Dinar Contract Rate can only(allegedly)  be given at a RC and banks will offer you lower exchange rates than what you can obtain at a RC. You can only set up your new wallet (bank account) at a RC. It was my understanding that most banks were under control of the Cabal and would soon play a different role in the Global Financial System.

Read full post here: https://dinarchronicles.com/2026/06/21/restored-republic-via-a-gcr-update-as-of-june-21-2026/

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

Stephen  I'm expecting some HCL news to come out in the next 48 to 72 hours.  That's probably one of the biggest topics that we are going to see some movement on.  I believe the HCL is the precursor to the revaluation happening.  Some say the revaluation will happen first and then the HCL law will be passed immediately after.  It remains to be seen.  But they are both very very closely connected.
 
Frank26   Alaq was the constipation.  He was the one that was supplying Iran with money and not letting the prime minister of Iraq to play fair with the American dollar.

Ariel   HCL – The Oil Revenue Lock That Makes Everything Fortunate...The Hydrocarbon Law is the sleeping giant...HCL centralizes strategic policy under a Federal Oil and Gas Council while giving regions input ending the independent KRG exports and smuggling that bled federal revenue.  Once passed, budgets stabilize, oil money flows cleaner, and the dinar gets the collateral backbone it needs.

Mnt Goat   Article:  “MP: INITIAL UNDERSTANDINGS REACHED BETWEEN POLITICAL BLOCS AND THE PRIME MINISTER TO PASS THE OIL AND GAS LAW”.   ...this recent article...reinforces once again the increased efforts to finally get passed the decades long-awaiting Oil and Gas Law (HCL). In it we learn that MP Adel Al-Mahalawi confirmed...that there are initial understandings between political blocs and the Prime Minister regarding proceeding with the passage of the oil and gas law in the coming period...the Prime Minister aimed at creating the necessary atmosphere for passing the oil and gas law, which is considered one of the important laws that has been long awaited.

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The New Fed Chair Just Tore Up The Playbook On Day One | DiMartino Booth with Kitco News

Kitco News:  6-20-2026

https://www.youtube.com/watch?v=h3Hlv2q6DJc

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

Good Morning Dinar Recaps,

ASEAN Pushes Deeper Rare Earth Cooperation to Strengthen Global Supply Chains

ASEAN is seeking to deepen cooperation on rare earth elements (REEs) as global demand for critical minerals accelerates. By strengthening regional collaboration, Southeast Asian nations hope to reduce dependence on outside powers, expand domestic processing industries, and secure a stronger position in the global supply chain.

 Overview

• ASEAN nations are working to strengthen cooperation on rare earth elements, which are essential for electric vehicles, renewable energy technologies, semiconductors, electronics, and defense systems.

• China currently dominates global rare earth production and processing, prompting ASEAN members to pursue strategies that diversify supply chains and improve regional competitiveness.

• The focus is shifting toward downstream manufacturing, technology transfer, and regional investment to maximize the long-term value of the region's natural resources.

Key Developments

1. ASEAN Holds Significant Rare Earth Potential

Malaysia, Vietnam, Indonesia, and Thailand possess substantial rare earth reserves, giving Southeast Asia an opportunity to become an important alternative supplier as governments and manufacturers seek to diversify away from China's dominant position.

2. Emphasis Moves Beyond Mining

Rather than exporting raw minerals, ASEAN leaders are encouraging investment in refining, magnet production, battery manufacturing, and advanced processing to capture more economic value within the region.

3. Bilateral Deals Could Reduce Regional Leverage

The article warns that individual agreements between ASEAN countries and foreign governments or corporations could weaken the bloc's collective bargaining power, limiting opportunities for technology transfer, environmental standards, and long-term industrial development.

4. Regional Cooperation Could Strengthen Supply Chains

Analysts recommend expanding joint research, workforce development, financing partnerships, and coordinated investment strategies that allow ASEAN members to build complementary industries instead of competing against one another.

Why It Matters

Rare earth elements have become some of the world's most strategic resources. As demand grows for clean energy technologies, artificial intelligence, semiconductors, and advanced manufacturing, countries with secure supplies and processing capabilities will hold increasing economic and geopolitical influence.

Why It Matters to Foreign Currency Holders

Critical minerals are becoming an increasingly important driver of global investment, trade, and capital flows. Nations that successfully develop these industries may strengthen their export economies, attract long-term investment, and improve their financial positions as the global monetary system continues to evolve.

Implications for the Global Reset

• Pillar 1: Assets

Rare earth elements are emerging as strategic national assets, joining gold, energy resources, and critical commodities as governments seek greater economic resilience and supply chain security.

• Pillar 2: Trade

Diversified supply chains reduce reliance on a single producer while encouraging the development of new regional manufacturing hubs and stronger economic cooperation throughout Southeast Asia.

Bottom Line

ASEAN's push for deeper rare earth cooperation reflects a broader global effort to secure critical supply chains and reduce strategic vulnerabilities. If successful, the region could become a much larger player in advanced manufacturing while reshaping global trade and investment patterns for years to come.

This is not just about critical minerals—it reflects the accelerating shift toward resource security, industrial independence, and a more multipolar global economy. 

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Modern Diplomacy – A Bundle of Chopsticks: How ASEAN Can Deepen Rare Earth Cooperation

• International Energy Agency (IEA) – Global Critical Minerals Outlook

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 🌱 A Message to Our Currency Holders🌱

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

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

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

That is not your failure.

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

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

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

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

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

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

~~~~~~~~~~

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Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Late Saturday Evening 6-20-26

A US Official: Iraq Has Agreed To Cooperate In Combating Money Laundering And Has Begun "Taking Steps"

2026-06-19 14:19  Shafaq News – Baghdad   A U.S. administration official confirmed on Friday that Iraq has agreed to cooperate with a financial group to combat money laundering, corruption and terrorist financing, and has begun taking positive steps in this regard.

The official told Shafaq News Agency that "after a process that lasted nearly two years to review the Iraqi system for combating money laundering and terrorist financing, Iraq agreed to work cooperatively with the Financial Action Task Force (FATF) to address the most strategic deficiencies in its system for combating money laundering and terrorist financing."

He added, "Iraq has already begun taking positive steps, demonstrating a political will to comply with the international standards set by the Financial Action Task Force (FATF)," noting that "we encourage Iraq to continue this positive movement and accelerate the implementation of the FATF Action Plan."

Sources indicated to Shafaq News Agency this evening that the changes being made by Prime Minister Ali al-Zaidi will affect more than 100 officials, and are closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.

The evaluation process is not limited to administrative performance alone, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.

According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.

According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.

Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say. https://www.shafaq.com/ar/سیاسة/مس-ول-ميركي-العراق-وافق-على-التعاون-لمكافحة-غسيل-ال-موال-وبد-بـ-اتخاذ-الخطوات

Exclusive: PM Al-Zaidi Targets Major Overhaul Of Iraqi Institutions

2026-06-20 04:32   Shafaq News- Baghdad   Iraqi Prime Minister Ali Al-Zaidi is preparing a broad reshuffle that could affect more than 100 senior officials across state institutions, with changes expected to include deputy ministers, agency heads, directors-general, and senior security officials.

Sources familiar with the matter told Shafaq News that a team appointed by Al-Zaidi is conducting a “comprehensive review” of government institutions, assessing the performance of senior officials and evaluating several administrative files. The review also examines the political and organizational affiliations of some officials, amid discussions about removing figures found to have neglected their duties or maintained links to armed factions.

Al-Zaidi has already introduced changes in key security and economic institutions, including the Iraqi National Security Service and the Central Bank (CBI). The planned reshuffle comes as the prime minister works to complete his cabinet formation and ahead of his expected visit to Washington, where he is due to meet US President Donald Trump.

Political sources told Shafaq News that US envoy Tom Barrack discussed a range of issues with Al-Zaidi during his recent visit to Baghdad, including the management of sovereign institutions and efforts to strengthen the independence of government decision-making.

According to the sources, the discussions coincided with the decision to abolish the posts of deputy prime ministers and shelve plans for a proposed Federal Security Ministry that would have brought together several security formations, including the Popular Mobilization Forces (PMF), a predominantly Shiite umbrella formation integrated into Iraq’s state security structure in 2016, and armed groups.

Negotiations within the ruling Shiite Coordination Framework over the security ministries and other disputed portfolios remain ongoing, with Al-Zaidi seeking to appoint “technocratic figures,” according to the sources.

The Framework meeting has been postponed until after the tenth day of Muharram*, as political parties await further clarity on the cabinet lineup and the scope of the expected changes.

*The first month of the Islamic lunar year. For many Muslims, particularly Shiite communities in Iraq, it commemorates the martyrdom of the third Imam Hussein ibn Ali, Prophet Mohammed’s grandson, at the Battle of Karbala.

https://shafaq.com/en/Iraq/Exclusive-PM-Al-Zaidi-targets-major-overhaul-of-Iraqi-institutions

MP: Economic Reform Begins With Activating The Private Sector

The Information Agency / Baghdad -  MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.

Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."

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

He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."

He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services." End/25

https://almaalomah-me.translate.goog/news/136135/economy/نائب:-الإصلاح-الاقتصادي-يبدأ-من-تفعيل-القطاع-الخاص?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

The Central Bank Of Iraq Responds To FATF: We Avoided The Blacklist And Will Implement The Plan To Exit The Grey List.

Economy |   20/06/2026  Mawazin News - Economy   The Central Bank of Iraq responded to the Financial Action Task Force (FATF) regarding its placement on the grey list, pledging to implement the joint action plan adopted with the group to be removed from the enhanced monitoring list.

The Anti-Money Laundering and Counter-Terrorist Financing Council stated that the FATF adopted a joint action plan with Iraq during its recent plenary meeting, noting that the group's statement acknowledged the progress made by Iraqi authorities in several measures related to combating money laundering and terrorist financing.

The Council added that Iraq has made progress in implementing market access controls to limit criminals' and terrorists' access to vital sectors, strengthening oversight of non-bank financial institutions and the real estate sector, and developing the authorities' understanding of money laundering and terrorist financing risks.

The Council explained that Iraq will continue working with the FATF to implement the action plan, which includes strengthening risk management, regulating virtual asset service providers, increasing the effectiveness of reporting suspicious transactions, and expanding investigations into money laundering and terrorist financing crimes.

He affirmed that "Iraqi financial, judicial, regulatory, and security institutions are committed to implementing the plan's components according to specific timelines, thereby contributing to strengthening the resilience of the Iraqi financial system, protecting the national economy, and expediting Iraq's removal from the enhanced monitoring list."

The statement noted that "Iraq's inclusion on the enhanced monitoring track is a procedure that several countries have undergone during international evaluation rounds," emphasizing that "Iraq managed to avoid being placed on the blacklist by complying with international standards and addressing identified weaknesses."

https://mawazin.net/Details.aspx?jimare=284064

The Dollar As A Weapon Of Pressure: An Expert Warns Of American Dominance Over The Iraqi Economy.

The Information Agency / Baghdad...   Economic expert Faleh al-Zubaidi stated on Saturday that the United States is using the dollar as a tool of pressure and blackmail against Iraq to advance its interests and agendas in the country.

In a statement to the Information Agency, al-Zubaidi explained that “the visit of US envoy Tom Barrack to Iraq comes within the framework of attempts to impose political dictates and conditions on the Iraqi government.”

He added that "the dollar and the global financial system are subject to American hegemony, which is sometimes used as a means of pressuring countries, including Iraq, to achieve specific gains and interests."

He pointed out that "Washington may resort to economic and financial pressure tactics if Iraq does not comply with these dictates or imposed directives."

He emphasized that "the current economic reality requires strengthening Iraq's financial independence and reducing reliance on external financial instruments in order to preserve the country's economic autonomy." End/25

https://almaalomah-me.translate.goog/news/136125/economy/الدولار-كسلاح-ضغط-خبير-يحذر-من-هيمنة-أميركية-على-اقتصاد-العر?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

Seeds of Wisdom RV and Economics Updates Late Saturday Evening 6-20-26

Good Evening Dinar Recaps,

U.S.-Iran MOU Signed as Nuclear Talks Enter Critical 60-Day Phase

Technical negotiations have been postponed, but the Memorandum of Understanding remains in effect as both sides prepare for what could become the most difficult stage of diplomacy.

 Overview

• The United States and Iran have entered a new diplomatic phase after signing a Memorandum of Understanding (MOU) intended to halt hostilities and begin negotiations over Iran's nuclear program.

• Vice President JD Vance confirmed that the official 60-day negotiation period has begun, although planned technical meetings in Switzerland have now been postponed.

• Technical negotiations have been delayed while the United States and its partners finalize logistics. The White House says the American delegation remains prepared to travel once meetings are rescheduled.

Key Developments

1. Technical Talks in Switzerland Have Been Postponed

Although Vice President JD Vance was expected to travel to Switzerland, the White House confirmed that the trip has been postponed after discussions involving the United States, Iran, Qatar, Pakistan, and Swiss officials were delayed.

White House officials stated that technical negotiations have not yet been finalized and emphasized that the American delegation remains ready to depart once a new schedule is established.

2. The 60-Day Nuclear Negotiation Clock Has Officially Started

Despite the postponement, Vice President Vance announced that the MOU is now officially in force, beginning a 60-day period during which negotiators will attempt to reach a comprehensive nuclear agreement.

The next phase is expected to focus on:

• Iran's uranium enrichment program

• Disposition of highly enriched uranium

• Verification and inspections

• Future sanctions relief

• Long-term regional security arrangements

Vance emphasized that there will be no final agreement unless Iran meets U.S. conditions regarding its nuclear program.

3. Internal Political Divisions Appear to Be Emerging Inside Iran

A significant new development is the emergence of conflicting public positions within Iran's leadership.

According to reports discussed on Fox News, Iran's Supreme Leader has reportedly claimed he never personally approved the Memorandum of Understanding, describing it as more of a tactical pause than a permanent settlement.

At the same time, Iran's elected government continues participating in negotiations, suggesting there may be competing political factions influencing Tehran's negotiating position.

Analysts say these divisions could complicate future talks but may also create additional leverage for U.S. negotiators.

4. Strait of Hormuz and Regional Security Remain Central Issues

Vice President Vance reiterated that international waterways should remain open to commercial shipping, making the continued operation of the Strait of Hormuz one of the central objectives of the agreement.

Meanwhile, President Trump defended the MOU while emphasizing that the United States retains significant military leverage should negotiations fail.

Regional tensions involving Israel and Hezbollah continue to be monitored, although administration officials suggested they do not currently threaten the broader U.S.-Iran negotiating process.

Why It Matters

The signing of the MOU marks only the beginning—not the conclusion—of negotiations.

While military tensions have eased, the most difficult issues remain unresolved, particularly Iran's nuclear program, sanctions, verification procedures, and long-term security guarantees.

The temporary postponement of technical talks highlights how fragile the diplomatic process remains.

Why It Matters to Foreign Currency Holders

For those following developments connected to the Global Financial Reset, these negotiations could influence:

• Global oil prices

• Inflation trends

• Central bank monetary policy

• International trade through the Strait of Hormuz

• Demand for safe-haven assets including gold and the U.S. dollar

Markets will likely respond more to progress in the nuclear negotiations than to the initial MOU itself.

Implications for the Global Reset

• Pillar 1: Energy

Keeping the Strait of Hormuz open remains critical to global energy security and inflation stability.

• Pillar 2: Global Finance

Any eventual agreement involving sanctions relief, oil exports, or frozen Iranian assets could reshape international capital flows and commodity markets.

Looking Ahead

The next 60 days are expected to determine whether the newly signed Memorandum of Understanding evolves into a lasting agreement or remains only a temporary pause in hostilities.

Although technical meetings have been postponed, both Washington and Tehran continue signaling their intention to negotiate, while internal political divisions inside Iran may become one of the biggest variables affecting the outcome.

This is not just about ending a conflict—it reflects the growing connection between geopolitical diplomacy, energy security, and the evolution of the global financial system.

Sources

• Reuters – Switzerland says U.S.-Iran talks continue at Bürgenstock, declines to identify participants 

• Fox News – Mornings with Maria, June 20, 2026 (Vice President JD Vance announcement and White House update on postponed Switzerland talks).

•  Axios – Trump envoys arrive in Switzerland for Iran talks planned for Sunday 

~~~~~~~~~~

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Thank you Dinar Recaps

FRANK26….6-20-26….SIEVE

KTFA

Saturday Night Video

FRANK26….6-20-26….SIEVE

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

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

Jon Dowling: Weekly RV Report and Financial Updates for June 19th, 2026

Jon Dowling: Weekly RV Report and Financial Updates for June 19th, 2026

The financial landscape is currently undergoing a period of profound transformation, marked by significant shifts in international policy and monetary infrastructure.

The latest Weekly RV Report, dated Friday, June 19, 2026, offers a comprehensive look at these developments, focusing on the intersection of Middle Eastern political restructuring and the broader evolution of the global financial system.

Hosted by Jon Dowling, the report provides a roadmap for understanding how regional reforms in Iraq are signaling larger changes in the international economic order.

At the heart of this week’s update is the rapid acceleration of political restructuring within Iraq. A key highlight is a critical new appointment within the Iraqi cabinet, a move seen by analysts as a stabilizing force for the nation’s governance.

 This political alignment is directly tied to the long-awaited progress on the Hydrocarbon Law (HCL). The HCL, which governs the distribution of oil and gas revenues, has been a central pillar of Iraq’s economic strategy for years. Its movement toward implementation suggests a significant shift in Iraq’s ability to engage with international partners and solidify its position as a major player in the global energy market.

Beyond legislative updates, the report delves into the modernization of the Iraqi banking sector. These domestic reforms are not happening in a vacuum; they are part of a global trend toward increased transparency and technological integration.

 Interestingly, the report highlights the growing role of blockchain technology and stablecoins within the U.S. Treasury and the wider banking system. This transition represents a fundamental change in how sovereign debt and daily transactions may be handled in the future.

By adopting decentralized ledger technology, traditional financial institutions are aiming for greater efficiency, potentially reducing the friction currently found in cross-border settlements.

The June 19th report also provides a sobering yet strategic outlook on the commodities market, specifically gold and silver. Despite what many observers describe as persistent price suppression tactics by central banks, the fundamental value of precious metals remains a focal point for diversified portfolios.

This interest in hard assets comes at a time when the Federal Reserve and other global central banks are anticipated to implement aggressive interest rate cuts by the end of the year. Such monetary easing often serves as a precursor to a wider global economic reset, making asset positioning a priority for those monitoring the markets.

As the global economy moves toward this anticipated reset, the report concludes with a call for strategic preparation. The concept of a “great wealth transfer” is discussed not as a matter of luck, but as a result of careful asset positioning and the exercise of high-level discernment.

 In an era of volatile information and shifting financial paradigms, staying informed through reliable data is essential. The report encourages viewers to look beyond the surface of daily news to understand the underlying structural changes occurring in both the legislative and technological sectors.

For those looking to deepen their understanding of these complex geopolitical and financial shifts, the full video from Jon Dowling offers further insights and detailed analysis. As we move into the latter half of 2026, staying ahead of these trends will be vital for anyone navigating the emerging global financial landscape.

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

https://dinarchronicles.com/2026/06/20/jon-dowling-weekly-rv-report-and-financial-updates-for-june-19th-2026/

Massive News Most Dinar Investors Missed

Massive News Most Dinar Investors Missed

The Dinar Den:  6-19-2026

The landscape of Iraq’s economy is currently undergoing a profound transformation, moving away from a traditional, cash-heavy system toward a modernized, digital-first financial infrastructure.

 In a recent update from Steven, an entrepreneur and long-term investor behind The Dinar Den, several critical developments have come to light that suggest Iraq is aggressively laying the groundwork for a more stable and internationally integrated currency.

By focusing on technological integration and administrative reform, Iraq is positioning itself to address long-standing economic hurdles.

Perhaps the most significant technological milestone discussed is the approval of Starlink, SpaceX’s high-speed satellite internet service, for use within Iraq. While internet access might seem like a secondary concern to currency value, it is actually the backbone of modern fiscal policy.

 A major obstacle to Iraq’s economic growth has been its large unbanked population and a reliance on physical cash. High-speed, reliable internet is the essential utility required to facilitate a cashless economy.

With Starlink’s deployment, even the most remote regions of Iraq can now access digital banking services. This connectivity allows for transparent digital transactions, government electronic payments, and real-time financial tracking.

By reducing the reliance on “mattress money” and physical currency, the Iraqi government can significantly curtail corruption and money laundering—essential prerequisites for any meaningful currency revaluation.

The political and administrative climate within the Central Bank of Iraq (CBI) has also seen a pivotal shift. The replacement of the former governor, Ali Al-Alak, with Nizar Nasser marks a potential turning point in Iraq’s monetary strategy. While Al-Alak was known for a conservative, stability-focused approach, Nasser brings a specialized background in anti-money laundering (AML) and international compliance.

This leadership change is viewed by many market observers as a signal that Iraq is ready to align more closely with global financial standards.

Nasser’s expertise is expected to accelerate reforms that integrate Iraq into the international banking community.

For the Iraqi Dinar to gain strength, the international community must have confidence in the CBI’s ability to regulate its markets and enforce transparency, and this new appointment appears to be a direct move toward establishing that trust.

Beyond the CBI, the Iraqi government is pushing for comprehensive electronic payment adoption across all ministries. This initiative is designed to streamline public services and ensure that government funds are handled with maximum efficiency.

Furthermore, the discussion surrounding the Hydrocarbon Law (HCL) remains a central pillar of Iraq’s economic future. The HCL aims to create a legal framework for the distribution of oil revenues, potentially linking these resources directly to citizen payments.

The success of the HCL and other financial inclusion strategies depends entirely on the digital infrastructure mentioned earlier. Without a robust electronic payment system, distributing oil wealth to the population would be a logistical nightmare prone to error and fraud. The convergence of these reforms—technological, legal, and administrative—creates a synergy that bolsters the country’s overall economic health.

While the road to a full currency revaluation is complex, the recent pace of progress in Iraq is undeniable.

From parliamentary actions on the Hydrocarbon Law to potential high-level diplomatic visits to the United States, the momentum is building toward a more modern Iraqi state. By tackling the root causes of economic stagnation—such as lack of infrastructure and administrative opacity—Iraq is making a compelling case for its future role in the global economy.

For those tracking these developments closely, the message is clear: Iraq is no longer just talking about reform; it is actively building the digital and regulatory architecture necessary to support a 21st-century economy.

https://www.youtube.com/watch?v=agaxMIJl0UE

Iraq Economic News and Points To Ponder Saturday Afternoon 6-20-26

US Command: 55 Ships Carrying More Than 17 Million Barrels Of Oil Have Crossed The Strait Of Hormuz

Arabic and international   The US Central Command announced on Saturday that 55 ships carrying more than 17 million barrels of oil had transited the Strait of Hormuz.In a statement, the Command said, "55 ships transited the Strait of Hormuz carrying more than 17 million barrels of oil to global markets," adding that "ship traffic in the Strait of Hormuz increased today as we continue to support freedom of navigation.

" The statement  concluded, "Our forces are prepared to ensure compliance with all aspects of the agreement with Iran." https://www.economy-news.net/content.php?id=70476

For The First Time In 48 Years, Iraq Breaks The Oil Exploration Stalemate In Its Northern Provinces.

Energy    Economy News – Baghdad   The Ministry of Oil announced on Saturday the commencement of drilling the first exploratory well in the northern provinces since 1978.

The ministry stated in a statement that, “In implementation of the directives of Oil Minister Bassem Mohammed Khudair, the technical and engineering staff of the Iraqi Drilling Company began drilling a new exploratory well within the Amerli district in Salah al-Din Governorate, under a tripartite contract that includes the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, in the presence of the Director General of the Iraqi Drilling Company and the Director General of the North Oil Company.”

She added that "this well is the first of its kind in the northern governorates since 1978, in a step that reflects the Oil Minister's directions towards revitalizing exploration work and developing promising blocks and reservoirs, with the aim of enhancing the hydrocarbon stock of oil and gas and increasing national reserves."

The minister affirmed, according to the statement, that "the ministry is proceeding with the implementation of its exploration programs aimed at enhancing the hydrocarbon reserves of oil and gas," noting that "the commencement of drilling this well represents an important milestone in the ministry's efforts to revitalize exploration work in promising areas after many years of inactivity."

He added that "the Ministry of Oil is adopting a new and clear vision based on expanding the drilling of exploratory wells and investing in geological and geophysical data, with the aim of enhancing the hydrocarbon reserves of oil and gas and securing resources that support the country's development and economic plans."

Khudair explained that "the project reflects the level of coordination and integration between the national oil formations, represented by the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, to achieve the ministry's goals of maximizing hydrocarbon wealth and investing it optimally."

He added: “Increasing proven oil and gas reserves and compensating for depletion is a strategic goal for the Ministry of Oil, given its role in enhancing Iraq’s global oil standing and supporting long-term oil sector development plans.”

He pointed out that "developing hydrocarbon reserves contributes to enhancing the country's future production capabilities, and gives Iraq greater flexibility in managing the oil production and export file, in line with the size of its proven resources and reserves, and achieves the highest possible economic return to serve national development."

The minister affirmed that "the Ministry of Oil is continuing to implement its plans aimed at expanding exploration activity in various promising areas, which will contribute to supplying national reserves with new discoveries, enhancing economic sustainability, and supporting Iraq's position as one of the most prominent countries possessing oil and gas wealth in the world."

https://www.economy-news.net/content.php?id=70459

Baghdad And Erbil On The Path To Unified Customs: The End Of Fragmentation And The Beginning Of A Single Iraqi Market

Reports   Economy News – Baghdad   The Iraqi government and the Kurdistan Regional Government are moving towards a new phase of economic coordination through a project to unify customs systems and procedures at all border crossings, in a step seen as one of the most prominent milestones of financial and administrative reform in recent years, due to its direct impact on public revenues, trade, and the investment environment.

In recent days, Baghdad witnessed joint meetings between the Border Ports Authority, the General Authority of Customs, and the Kurdistan Region Customs Authority, with the participation of representatives from the relevant sectoral bodies, to discuss mechanisms for unifying customs tariffs and implementing the electronic ASYCUDA system at all border crossings, in addition to discussing customs exemptions, lists of prohibitions and restrictions, standardization procedures, quality control, radiation inspection, compliance with the agricultural calendar, addressing unofficial border crossings, and unifying tax procedures.

During the meeting, the head of the Border Ports Authority, Omar Adnan Al-Waili, stressed the importance of dealing with the issues raised in a positive spirit, while giving priority to facilitating trade between the region and the Iraqi governorates, noting that unifying procedures would reduce the burdens on drivers and traders and achieve greater smoothness in the movement of goods, which would reflect on economic stability.

This government initiative comes within the framework of a broader trend towards digitizing customs work and unifying trade policy throughout the country, especially with the expansion of the application of the ASYCUDA system, which was developed by the United Nations through the United Nations Conference on Trade and Development (UNCTAD), and is one of the most widely used customs systems in the world for managing import, export, and transit operations, automating customs procedures, and increasing the efficiency of collection and control.

In this context, Finance Minister Falih Sari stressed that unifying customs systems and procedures between the federal government and the Kurdistan Region represents an important strategic step within the path of economic reform and strengthening non-oil revenues, stressing the importance of implementing the ASYCUDA system in the region’s customs centers because it provides advanced control and administrative tools that contribute to developing customs performance and enhancing electronic control.

He explained that the joint meetings discussed mechanisms for implementing the system currently adopted at the federal ports and reviewed the results achieved in the field of digital transformation and simplification of procedures, as well as exploring ways to unify data and customs procedures between Baghdad and Erbil in line with international standards, enhance transparency, and raise the efficiency of border port management.

The government affirms that the implementation of the unified electronic system will contribute to reducing customs evasion cases, maximizing non-oil revenues, and tightening control over the movement of goods entering and leaving.

This prompted both sides to sign a joint memorandum that includes a set of recommendations and executive procedures for implementing the system in the customs centers affiliated with the Kurdistan Region, in preparation for submitting it to the Ministerial Council for Economy to complete the necessary legal procedures.

This file is of particular importance in light of the Kurdistan Regional Government’s approval of the implementation of the ASYCUDA system, as the head of the regional government, Masrour Barzani, had previously confirmed that the region had no objection to implementing the system, while requesting a technical grace period of about nine months to complete the necessary infrastructure requirements for its implementation.

The Prime Minister’s financial advisor, Mazhar Muhammad Salih, believes that unifying the customs systems between the federal government and the region represents a strategic step within the economic and financial reform project, explaining that its importance is not limited to the administrative aspect only, but extends to building a unified trade policy and enhancing the state’s ability to manage its non-oil resources more efficiently.

Saleh said that unifying customs systems will contribute to reducing cases of customs evasion resulting from differences in procedures and tariffs between ports, as well as unifying the databases for import and export movement, which provides more accurate information to decision-makers and helps to formulate more efficient economic and financial policies.

He added that the success of the project requires the adoption of unified electronic systems for collection and customs clearance, linking all border crossings to a central database that allows for real-time tracking of goods movement, in addition to activating joint monitoring and auditing and the exchange of information between the relevant authorities in the federal and regional governments.

Saleh pointed out that unifying customs systems will support increasing non-oil revenues by expanding the customs base, reducing financial leakage, and closing loopholes that allowed for different fees or duplication of procedures. He explained that this will achieve greater fairness in collecting fees and taxes on imports, enhance public treasury resources, and reduce excessive dependence on oil revenues.

The expected gains are not limited to the financial aspect only, as specialists believe that unifying customs procedures between Baghdad and Erbil will reduce the time and cost associated with the movement of goods within Iraq, strengthen the principle of national market unity, and give investors a clearer and more stable view of the business environment, as well as reduce the complications facing traders and importers when moving goods between the region and other governorates.

The success of this project will also contribute to strengthening confidence in the Iraqi economy among international institutions and foreign companies, especially with Iraq’s move towards expanding regional trade and implementing major strategic projects in the fields of transport and logistics.

Given the financial challenges facing oil-dependent economies, the move to unify customs systems between Baghdad and Erbil appears to be part of a broader vision aimed at building a more diversified and sustainable economy, based on developing non-oil revenues, improving financial management, and employing modern technology in managing border crossings, thereby enhancing state efficiency and consolidating the unity of the Iraqi market on more organized and transparent foundations. 

https://www.economy-news.net/content.php?id=70461

You Weren't Crazy 17 Years Ago You Were Early

You Weren't Crazy 17 Years Ago. You Were Early

Notes From the Field By James Hickman (Simon Black / Sovereign Man)  June 19, 2026

20 years ago, if you recognized how deep America's problems were, it was easy to feel like you were the crazy one.

Banks were handing out mortgages to people who plainly couldn't afford them. Wall Street bundled those mortgages by the millions and sold them on as some of the safest investments around. And the whole structure rested on the assumption that home prices would never fall, so a bank could simply sell the home for more in case of a default.

Chief among the “experts” selling this fiction was Ben Bernanke, then chairman of the White House Council of Economic Advisers, who said in 2005, "We've never had a decline in house prices on a nationwide basis."

In March 2007, with subprime loans already going bad, Bernanke, by then Fed Chairman, told Congress the damage "seems likely to be contained."

That May he said he didn't expect "significant spillovers… to the rest of the economy."

As late as July 2008, weeks before the two mortgage giants collapsed into government hands, he called Fannie Mae and Freddie Mac adequately capitalized and in no danger of failing.

Then on September 15, 2008, Lehman Brothers filed the largest bankruptcy in US history, and the structure came down. Prices fell, those homes were suddenly worth less than the loans against them, and the safest investments around turned toxic.

By 2009, Washington was spending, bailing out, and printing at record scale, and the obvious question was how long it could possibly go on.

That was the world the very first Sovereign Man letter dropped into, in June 2009, exactly 17 years ago.

We wrote about a real man named William "Bud" Post who had gone flat broke, on food stamps, with lawsuits, jail time, and bankruptcy behind him. What made it strange was that in 1988 he'd won $16.2 million in the Pennsylvania lottery.

Bud, we wrote, is the United States of America.

America hit its own lottery after World War II, coming out the only major economy left standing, the dollar enthroned as the world's reserve currency. And like Bud, it spent the next several decades certain the money would never run out.

LBJ got bogged down in Vietnam while building the Great Society. George W. Bush entered two wars and told Americans to go shopping, and Obama, fresh off the bailouts, was promising universal healthcare.

It was the steady avoidance of every hard choice. We called it winner's syndrome: "we've been winners for so long we don't know any other reality."

In 2009, that was an unpopular thing to say.

The consensus treated the crisis as a stumble the economy would walk off, and calling America structurally broke got you labeled a crank.

We didn't say it was a death sentence, though. We argued the opposite, that clear thinking could still save America: take the hit, let failing businesses fail, restructure, and come out stronger.

"Unfortunately," we wrote, "there are no near-term indications of rationality in Washington."

17 years later, that is more true than ever. If anything, Washington has gone backwards.

For example, Social Security's own trustees now project the main retirement trust fund runs dry in 2032, after which scheduled benefits get cut by roughly 22% automatically.

That’s not some distant future where maybe at some point someone will have to start thinking about a solution. It is 6 years away.

And the fixes are no secret; the trustees themselves lay out the options, from higher payroll taxes to benefit cuts.

But they've ignored it for so long that simply hearing a few members of Congress acknowledge the scale of the problem now feels like progress, even though acknowledging it is a long way from fixing it.

We were early; the reckoning we kept warning about has taken longer to arrive than we thought.

But early isn't wrong: everything that first letter described is more true today than it was in 2009. Washington could still choose to fix it, exactly as it could have back then. It simply has to want to, and seventeen years of evidence says it doesn't.

Your Plan B, fortunately, doesn't require Congress to find its courage.

And that was the entire reason this company was founded.

That was the promise at the end of that first letter: while the country may be on a slide, clear thinking could still save you, "and that's where we come in."

That's still exactly what we do.

Sovereign Man grew into Schiff Sovereign, and one daily letter became a full body of research.

Every month, our co-founder James Hickman gives his in-depth view of the world in the Macro Brief, mapping where the debt, the dollar, and global events are heading. He points to specific real assets that can protect your savings; the gold, energy, and resource businesses that hold their value as the dollar slips.

It’s available to members of Premium 

Members of our flagship membership, Plan B Confidential, get even more.

This is the original idea the first letter was built on: don't put all your eggs in one basket, and don't hand one government the keys to your entire life. Plan B Confidential is the playbook for second citizenship so you always have another way out, foreign residency so you always have another place to live, offshore banking so your savings aren't trapped in one banking system, and the legal tax strategy that lets you keep as much of your money as possible.

It's built on boots-on-the-ground research across more than 120 countries.

And because so much of the threat from a bankrupt government printing money and draining the value of your savings is financial, we've zeroed in on real assets through our investment research newsletter, Strategic Assets.

 A real asset is something with worth of its own, the kind of thing people need no matter what the dollar is doing: gold as a store of value, energy, the metals that build everything. A government can print money by the trillion, but it can't print an ounce of gold or a barrel of oil, so real assets tend to hold their value, and often climb, exactly when paper money is falling apart.

And for readers who want it all, we offer Total Access.

Members get everything we publish, from the macro analysis to the investment research, and all the international strategies in between.

But Total Access members also get the community: other members who they meet at in-person events, conferences, dinners, and most recently, small group boots-on-the-ground trips around the world.

From a superyacht along the Croatian coast to a trek through the Patagonian Andes, members explore the world together, and finally find their tribe in each other.

That's the part we could never have planned 17 years ago.

Back then, we wrote to a handful of people willing to question what everyone else accepted as obvious. You were one of them, or you found your way here since, because you see the world through that same lens.

That's what built this. Not us. You.

Here's to the next chapter. 

The Schiff Sovereign Team 

https://www.schiffsovereign.com/trends/you-werent-crazy-17-years-ago-you-were-early-155339/?inf_contact_key=2711d6e0b2df39d67ae534ce5c36e4361f4656d5a280bd26233b3d1e6f4a07a6

Ariel: The IQD Rate Adjustment Phase is in High Gear (And More)

Ariel:  The IQD Rate Adjustment Phase is in High Gear

6-20-2026

Here’s What To Watch Folks

Approaching but controlled. (Keep In Mind) The new Governor’s background screams managed transition redenomination (drop zeros for practicality) followed by gradual strengthening anchored in gold, stabilized oil (post-HCL), and diversified revenue.

Capital controls likely kick in initially. Ripple/ISO rails + Starlink make real-time enforcement possible. Watch early-morning CBI announcements (often Sundays for market quiet).

Post-adjustment intervention to anchor the rate, gradual control easing, foreign investment surge, and integration into broader digital asset ecosystems via Clarity Act-aligned rails.

This creates Dollar 2.0-style sound money that holds or grows value instead of endless erosion through printing and proxy wars. Something that was recently ended.

Trump’s “level playing field” rhetoric wasn’t empty. The Iran deal (signed in the same Versailles halls where the old order carved up the world in 1919) ends proxy chaos, reopens monitored Hormuz flows, and chokes black market networks that fed militia economics and sanctions busting.

Clarity Act steam in the Senate provides U.S. regulatory certainty for stablecoins and digital assets, directly complementing Iraq’s digital leap. Banks are terrified because ISO 20022 + Ripple rails expose the arbitrage and opacity that let legacy intermediaries skim for decades.

 We are approaching a very powerful event people. The best thing to do is watch this play out. Because the PM visit next month will be discussing a trade partnership. Something that will require what? A level playing field ie 1:1 parity.

The process is messy because the machine was deeply rooted. But the foundations are now solid. The dinar shift is structural realignment toward sound money, not lottery. The Republic (and aligned sovereign plays like Iraq) moves forward on rails that the old parasites can’t easily derail. The storm was necessary. The reset is landing. Stand ready the payoff is worth the grind.

Source(s):
• https://x.com/Prolotario1/status/2068117600693895641

https://dinarchronicles.com/2026/06/20/prolotario-the-iqd-rate-adjustment-phase-is-in-high-gear/

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

Ariel:  Probable Sequence of Events Regarding Iraq

6-20-2026

Iraqi Dinar Update: Part 2 (And Other Info) Ripple News

Updated Probable Sequence of Events re: Iraq – June 2026 Perspective

The original 2025 outline from Stephanie Starr back in 2025 https://x.com/i/status/195452984541044758 laid out a logical, phased roadmap for Iraq’s currency strengthening based on how other nations have handled similar transitions, combined with Iraq’s unique oil-dependent reality.

That framework still holds as a strong skeleton, but the ground has shifted noticeably in the past 10–11 months.

We’re now deep into operational execution rather than pure planning.

Starlink’s nationwide license approval, the aggressive cashless mandate targeting early July 2026 for government institutions, the new Central Bank Governor with deep AML/TF roots, ongoing HCL negotiations, and gold reserve building are all accelerating the timeline while adding real compliance teeth.

We know no magical overnight flip has occurred at this time as the official rate hovers around 1,300 IQD per USD for budgeting purposes but the infrastructure, legislative pressure, and international alignment point to a controlled strengthening and redenomination path rather than the old static limbo. But we also have a new CBI Governor who has an entire different playbook.

Stage 1 – Final Banking Reform & Compliance Lock-In (Largely Complete / Ongoing)

Current Status: This phase is well advanced. The Central Bank of Iraq (CBI) has pushed private banks to meet capital and compliance thresholds. Electronic payment systems are scaling rapidly, with trillions already flowing through e-wallets, POS, and instant rails.

Starlink’s license (welcomed publicly by PM Ali al-Zaidi and U.S. Envoy Tom Barrack) provides the critical satellite backbone for remote oil fields, border zones, and rural banking outposts where terrestrial infrastructure was always vulnerable to sabotage or graft.

Stage 2 – Market Preparation & Stabilization (Accelerating)

Current Status: Tightened dollar supply, public education on digital payments, and gold reserve growth (over 170 tons and climbing) are all visible.

Cashless mandates for government institutions target early July 2026 Interior Ministry already largely dark on cash, with others following. Starlink fills connectivity gaps so remote ministries and oil infrastructure can log and settle in real time.

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https://www.patreon.com/Prolotario1/posts/iraqi-dinar-part-161558949

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Saturday Iraq News Posted by Tishwash at TNT 6-20-2026

TNT:

Tishwash:  Algerian: The government will be forced to change the exchange rate after the country's economic downturn.

 Information/Baghdad...

The head of the political body of the National Tribal Movement, Abdul Rahman al-Jazaeri, confirmed that the government will be forced to change the dollar exchange rate in local markets after the economic downturn the country has witnessed as a result of the war in the region.

Al-Jazaeri told Al-Maalouma, "The Prime Minister's move to increase the value of the dollar in local markets at the expense of the Iraqi dinar is possible and not unlikely given the conditions and developments in the region and their repercussions on Iraq."

He added, "The war in the region has had a complete and clear impact on all Iraqi economic programs, the budget, the dollar exchange rate, and foreign transactions, in addition to the disruption in the export of Iraqi oil."

He explained that "the urgent need compels the government to take measures that will increase the exchange rate in local markets in order to put the economy back on track, especially with an economic figure at the top of the executive branch." 

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Tishwash:  An economist warns that changing the exchange rate without structural reforms could exacerbate inflation and poverty.

 Economic expert Manar Al-Obaidi confirmed on Friday (June 19, 2026) that changing the exchange rate of the dinar against the dollar as a unilateral measure to reduce public spending may have negative effects that outweigh its temporary gains, calling for addressing the structural imbalances in the Iraqi economy.

Al-Ubaidi said in an analysis seen by “Baghdad Today” that “reducing the value of the dinar may achieve some gains, including reducing government spending denominated in dinars, limiting imports, supporting local products, as well as reducing pressure on cash reserves.”

He added that "the decision may entail a number of risks, most notably the loss of confidence in the local currency and increased dependence on the dollar, weakening the investment environment, increasing the state's operating expenses, as well as growing rates of inflation, poverty and unemployment."

He pointed out that "the real economic problem lies in the inflation of operating expenses, the weakness of non-oil revenues, and the imbalance in the trade balance," stressing that "real reform begins with addressing these issues structurally, and that any adjustment to the exchange rate should be part of an integrated package of economic reforms."  link

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Tishwash:  Ahead of his visit to Washington, al-Zaydi's "sieve" causes the biggest government shake-up since 2003.

 It wasn't long after Ali Faleh al-Zaidi took over his duties that he began sending clear signals to his opponents and allies at the same time, under the title "The next stage will not be an extension of what came before it."

While his government is still completing its ministerial formation, informed sources speak of a broad list of changes that may affect more than 100 officials at various administrative levels, starting with undersecretaries and not ending with directors-general, in a move that seems closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.

According to information obtained by Shafaq News Agency, the team assigned by Al-Zaidi to review the performance of government institutions is continuing its work away from the spotlight, through a comprehensive evaluation of official institutions and bodies, in preparation for launching one of the broadest replacement operations that the country has witnessed since 2003.

The evaluation process is not limited to administrative performance only, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.

In a country where successive governments have been accustomed to "waiting before approaching high positions for fear of clashing with influential parties," al-Zaydi's moves appear to be very different.

The current prime minister began his term with a series of decisions affecting sensitive security and economic positions, including the National Security Service and the Central Bank, which opened the door to questions about whether these steps represent the beginning of a project to restructure state institutions, or whether they come in response to the requirements of a "new political phase" in which internal calculations are intertwined with external pressures.

The timing of these measures is of exceptional importance as al-Zaidi’s anticipated visit to Washington and his expected meeting with US President Donald Trump approach, a visit that many observers view as a pivotal moment in shaping the relationship between the new government and the US administration.

According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.

According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.

Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say.

But the road ahead for the prime minister does not appear entirely paved, as any change in the highest state positions necessarily means disrupting political balances that have accumulated over more than two decades, which makes any broad replacement process a real test of al-Zaydi’s ability to impose his will within a system of governance based on consensus, power-sharing, and the division of influence.

With the postponement of the meetings of the Coordination Framework forces until after the tenth of Muharram, the political forces seem to be waiting for the picture of the final understandings regarding the government formation and the expected changes to become clear, before determining the form of their position on the Al-Zaydi project.

Until then, the list of 100 names does not appear to be a "media show," but rather a title for a silent political battle taking place behind the scenes, which may redraw the centers of power within the Iraqi state, and reveal the extent to which al-Zaydi can turn promises of reform into reality, or remain within the limits of the balances that brought him to power.  link

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Tishwash:  Iraq returns to the "grey list"... International demand obliges Baghdad to implement a plan to combat money laundering

The Financial Action Task Force (FATF) announced on Friday that it has placed Iraq on its "grey list" of countries that require increased monitoring regarding their efforts to combat money laundering and financial crimes.

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

According to the statement, inclusion on the grey list means that the country in question is subject to enhanced monitoring by the Financial Action Task Force, and is required to implement a reform plan to address deficiencies in its anti-money laundering and counter-terrorism financing systems.

The decision comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are key priorities for the next phase.

Iraqi Prime Minister Ali al-Zaidi had announced, since taking office last May, that rebuilding the Iraqi economy, attracting foreign investment, and fighting corruption would be among the main pillars of his government's program.

The Financial Action Task Force (FATF) announced in July 2018 that Iraq had been removed from the monitoring zone, due to the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering and Counter-Terrorist Financing Office in improving and addressing shortcomings, and in fulfilling all its obligations towards the FATF recommendations and addressing the requirements of the anti-money laundering and counter-terrorist financing strategy prepared by the bank at that time.  link

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Tishwash:  The US Secretary of State will visit the Middle East next week.

The American news website Axios reported on Friday evening that US Secretary of State Marco Rubio intends to visit the Middle East next week.

According to the website, Rubio will visit the UAE, Kuwait and Bahrain during a Middle East tour next week.

Earlier today, Rubio, in a telephone call with Lebanese President Joseph Aoun, affirmed Washington’s support for the Lebanese government’s efforts to establish a sovereign state that lives in peace with its neighbors.

For his part, US President Donald Trump, in statements on Friday, specifically thanked the leaders of Saudi Arabia, Qatar and the UAE, stressing that Washington’s relations with the three countries are “great,” and praising the role played by the region’s capitals in supporting efforts to de-escalate tensions and engage in dialogue over the past months.

Last Wednesday, Trump and his Iranian counterpart, Masoud Pezeshkian, remotely signed a memorandum of understanding between the United States and Iran to end the war and open the Strait of Hormuz, in a move that preceded a ceremony that was scheduled to take place in Switzerland, and opened the door to broader negotiations on the nuclear issue and sanctions during a period of 60 days  link