MilitiaMan & Crew: IQD News: What You Need to Know Right Now

MilitiaMan & Crew: IQD News: What You Need to Know Right Now

8-23-2026

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

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

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

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

https://www.youtube.com/watch?v=LTn8b1kHPOM

FRANK26….8-23-26…. THE GREEN

KTFA

Sunday Night Video

FRANK26….8-23-26…. THE GREEN

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=GwIiypAel8M

Rob Cunningham: Liberty at Machine Scale and the Stairway to Abundance

Rob Cunningham: Liberty at Machine Scale and the Stairway to Abundance

8-23-2026

What Does Liberty at Machine Scale Mean to Humanity?

We can’t begin to process the scope and scale of abundance humanity is soon to enjoy.

Imagine that today you own: $10 million of land.

The land may make you wealthy on paper, but you cannot send 0.003% of it across the planet at 2:14 AM, place it into an automated liquidity pool, use it for a three-hour secured financing transaction, retrieve it, pledge it elsewhere, or exchange part of its economic exposure against another asset.

Tokenization of all RWA changes the representation and mobility of that value.

Now expand this concept to: land + real estate + private equity + infrastructure + mineral rights + commodities + precious metals + intellectual property + receivables + equipment + financial securities + other legally recognized property rights.

This economic transformation can be summarized by one equation: Static Wealth → Programmable Productive Capital

That is much more consequential than merely digitizing ownership records.

Humanity may discover that what we historically perceived as a shortage of capital was partly a shortage of capital mobility.

We already possessed the land.

We already possessed the minerals.

We already possessed the buildings.

We already possessed the businesses.

We already possessed the inventions.

We already possessed the productive capability.

We frequently lacked a universal mechanism for turning those things into verifiable, divisible, interoperable, continuously mobile economic claims.

Tokenization doesn’t create the mountain.

It builds roads to the mountain.

We can’t begin to process the scope and scale of abundance all humanity is soon to enjoy.

STAIRWAY TO ABUNDANCE

There’s a world we inherited, sleeping in stone,
With a fortune beneath every road.
In the fields, in the mountains, the stories we own,
There is value that never could flow.

We counted our money,
But not what was real.
We measured the river
While damming its wheel.

Then somebody opened the gate.

And the earth became liquid,
The silent could speak.
A mountain found markets,
An acre found wings.

A fraction could travel
While ownership stayed,
And wealth that stood motionless
Entered the trade.

What if abundance was always here—
Waiting for a way to move?

Gold in the ground.
Homes on the street.
Ideas in a notebook.
Harvests of wheat.

Factories. Patents.
Businesses. Land.
The work of a lifetime
Held in human hands.

Not manufactured wealth.

Discovered wealth.

Not money from nothing.

Value made mobile.

And suddenly midnight
Was no longer “closed.”
No border could tell human value
Where value could go.

The markets kept breathing.
The engines stayed awake.
Machines searched for pathways
Humans couldn’t calculate.

Value met value.

Buyer met seller.

Collateral found capital.

And capital found creation.

Then something remarkable happened:

The question stopped being—

“Where will we find enough?”

And became—

“What will humanity build
when what we already have
can finally flow?”

Let the land become liquid
without selling the land.

Let the builder find capital
without losing his hands.

Let the inventor find markets.
Let the farmer find choice.

Let a billion forgotten assets
finally discover a voice.

Because wealth isn’t paper.

And wealth isn’t debt.

Wealth is creation
the ledger hasn’t recognized yet.

It’s sunlight and labor,
Copper and grain,
Human imagination
turning knowledge to gain.

It’s everything useful.
Everything true.
Everything humanity
can dream, make and do.

And when static wealth
becomes productive capital,

When trapped value
becomes programmable,

When ownership becomes divisible,

When markets become continuous,

When settlement approaches instantaneous,

When the whole world
can finally trade value
for value—

We may discover something
our age of scarcity
never permitted us to imagine:

We weren’t standing
at the end of prosperity.

We were standing
at its beginning.

So open the gates.

Let value flow.

Let humanity discover
the wealth it already owns.

And somewhere beyond
the old walls of scarcity,

A generation will look backward
and wonder why we ever believed Abundance was impossible.

– – the end – –

Godspeed to us all!

Watch on X:   https://twitter.com/i/status/2091182811818397790

Source(s):
• https://x.com/KuwlShow/status/2091161501541319093
• https://x.com/KuwlShow/status/2091182811818397790

https://dinarchronicles.com/2026/08/22/rob-cunningham-liberty-at-machine-scale-and-the-stairway-to-abundance/

We NEED A Gold Standard To Survive | Alasdair Macleod

We NEED A Gold Standard To Survive | Alasdair Macleod

Money Markets and more by Dominic Frisby:  8-23-2026

In this latest Money Markets and More, I sit down with monetary analyst Alasdair Macleod to discuss gold, fiat currency and why he believes we are rapidly approaching a point at which the monetary system as we know it can no longer survive without a return to gold.

Alasdair has spent decades studying financial markets, monetary history and the role of gold, and his argument is uncompromising: gold is money; pounds, dollars and euros are credit.

He believes confidence in fiat currencies is approaching breaking point and goes as far as to predict that the present system could be dead within the next 18 months.

 In his view, any currency that hopes to survive what comes next will ultimately have to become a credible substitute for gold through a proper gold standard.

From there, our conversation ranges from sterling, government debt and the fragility of bond markets to Japan, China and what a 21st-century gold standard might actually look like.

We discuss why Alasdair believes gold should be treated as the unit of account rather than something whose value is measured in depreciating currencies, why government debt eventually threatens the currencies supporting it, and why, if I gave him £100,000 today, his answer would simply be: gold.

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

Seeds of Wisdom RV and Economics Updates Sunday Afternoon 8-23-26

Good Afternoon Dinar Recaps,

China's Yuan and the Emerging Shift in Global Trade Settlement

China is continuing to build the infrastructure for a larger international role for the yuan, and today's Sinopec results provide an important energy-market connection. The shift is not a sudden replacement of the dollar—but the combination of China's energy position, yuan settlement and expanding cross-border payment infrastructure is creating another pathway for global trade outside traditional dollar channels.

Overview

• China's yuan is gaining a larger role in cross-border settlement, with China's CIPS payment system experiencing a sharp increase in activity following the outbreak of the Middle East war.

• Sinopec's first-half profit rose 19.3%, despite the Iran war, lower domestic fuel demand and a $2.3 billion-equivalent inventory write-down, highlighting China's ability to adapt to the energy shock.

• The emerging story is not that the yuan is replacing the dollar, but that energy, trade and payment systems are increasingly providing alternatives to dollar-only settlement.

Key Developments

1. China's payment infrastructure is becoming more important

The most significant part of this story may not be the yuan itself.

It is the infrastructure being built around it.

China's Cross-Border Interbank Payment System (CIPS) has become an increasingly important mechanism for settling international transactions in renminbi.

The European Central Bank reported that CIPS settlement activity increased by approximately one-third in March 2026 compared with the average of the previous 12 months following the outbreak of the Middle East war. The ECB also reported that customer-related cross-border renminbi payments through Chinese banks reached approximately $1.4 trillion in March, about 30% higher than the previous month.

That does not mean all of this represents permanent movement away from the dollar.

But it demonstrates something strategically important:

China already has an operating payment infrastructure capable of handling substantially more international commerce.

2. The Iran war is accelerating the energy-settlement question

Energy is where the yuan story becomes particularly important for global financial markets.

The Middle East conflict has disrupted traditional energy flows and highlighted the vulnerability created when international oil trade depends heavily on a single financial and payment architecture.

The ECB specifically noted that the war could become a catalyst for a greater role for the renminbi in global oil markets.

Reports cited by the ECB indicated that some vessels used renminbi through CIPS—or other payment mechanisms—to make payments associated with passage through the Strait of Hormuz during March and April.

This is an important distinction.

The question isn't whether the entire global oil market will suddenly switch from dollars to yuan.

The more consequential development is that oil transactions are increasingly demonstrating that alternatives can be used when geopolitical circumstances make traditional settlement channels more difficult.

3. Sinopec provides today's important energy connection

Today's new Sinopec results add another dimension to the story.

China's largest oil refiner reported first-half net profit of 25.63 billion yuan, up 19.3% from the same period last year, despite the Middle East conflict and declining domestic fuel demand.

The result is particularly notable because Sinopec also had to record an approximately 16 billion yuan inventory write-down as oil prices experienced extreme volatility.

Crude processing declined 5.6%, yet refining margins increased by 44.1%.

Sinopec attributed its resilience to factors including diversifying crude sources, optimizing purchasing and adjusting its product mix.

For the global financial-reset story, the significance isn't simply that Sinopec made more money.

It is that China's largest energy companies are adapting to a geopolitical environment in which traditional energy flows and financial relationships are being disrupted.

That increases the strategic value of China's own currency and payment infrastructure.

4. China is connecting trade, energy and payments

This is where several seemingly separate developments begin to connect.

China is simultaneously:

Expanding yuan internationalization → developing CIPS → increasing energy relationships → diversifying commodity suppliers → encouraging more cross-border yuan settlement.

The pieces do not constitute a replacement monetary system.

But together they provide another financial channel for international commerce.

That distinction matters.

A global monetary system does not have to be replaced overnight to become more multipolar.

It can become multipolar gradually as businesses, governments and financial institutions acquire more choices about which currency and payment system they use.

5. The dollar still dominates—but diversification is the story

There is no evidence that the yuan is about to displace the dollar as the world's primary reserve currency.

The dollar continues to dominate international finance, global reserves and major commodity markets.

China also faces significant limitations in making the yuan fully comparable with the dollar, including capital-account restrictions and the relative depth and openness of Chinese financial markets.

The Carnegie Endowment has specifically noted that the Hormuz crisis has highlighted the potential for greater renminbi use in energy markets while also exposing the limits of China's financial system and its continuing dependence on dollar-linked channels.

That makes the more defensible conclusion:

The world is diversifying its settlement options rather than abandoning the dollar.

Why This Matters

For decades, the global financial system benefited from a relatively simple structure:

Dollar → international trade → commodities → banking → reserves.

Now another layer is developing:

Yuan → CIPS → Chinese trade → energy → commodities → cross-border settlement.

The two systems can coexist.

In fact, that may be exactly what is happening.

The significance is that countries conducting business with China increasingly have the ability to settle at least some transactions without converting everything through the dollar system first.

That reduces dependence without requiring an outright rejection of the dollar.

Why It Matters to Foreign Currency Holders

For foreign-currency holders, this is an important distinction.

The global financial reset is often described as if one currency will suddenly replace another.

The actual transition may be considerably more gradual.

If international trade becomes increasingly divided among dollars, euros, yuan and regional currencies, exchange rates could become more closely connected to trade relationships, energy flows and geopolitical alliances.

That could increase the importance of understanding why a currency is being used, not simply how much it is worth against the dollar.

For currencies connected to commodity-producing nations, this could become particularly important if more energy and commodity transactions are settled outside traditional dollar channels.

Implications for the Global Financial Reset

• Settlement diversification is becoming tangible.

The important development is not a declaration that the dollar is finished. It is the growing availability of alternative settlement infrastructure.

• Energy may be the catalyst.

Oil and natural gas are among the most strategically important internationally traded commodities. If more energy transactions can be settled in yuan or other currencies, the financial implications could extend well beyond the energy sector.

• CIPS is becoming strategically significant.

China's payment infrastructure gives Beijing an additional tool for expanding international use of its currency.

• The yuan's internationalization is increasingly connected to real trade.

A currency becomes more useful internationally when companies have practical reasons to hold and spend it. China's enormous role in manufacturing, commodities and energy consumption provides that underlying trade base.

• The emerging system is likely to be multipolar rather than immediately post-dollar.

The most credible interpretation is diversification—more currencies, more payment systems and more regional settlement arrangements operating alongside the existing dollar system.

What to Watch Next

1. Whether CIPS activity remains elevated after the Middle East energy crisis stabilizes.

2. Whether China expands yuan settlement for oil and other commodities.

3. Whether additional countries begin holding yuan for trade rather than simply converting it immediately into dollars.

4. Whether Chinese banks expand cross-border yuan services.

5. Whether BRICS members increase local-currency settlement in bilateral trade.

6. Whether the United States responds with measures designed to preserve the dollar's role in global trade and finance.

7. Whether the Iran conflict creates additional demand for non-dollar energy settlement.

Bottom Line

Today's Sinopec report provides an interesting piece of a much larger puzzle.

China's largest oil refiner was able to increase profits 19.3% despite the Iran war, falling domestic fuel demand and significant oil-price volatility. At the same time, China's cross-border payment infrastructure has experienced a substantial increase in activity during the Middle East crisis.

These developments do not prove that the yuan is replacing the dollar.

They demonstrate something more subtle—and potentially more important over time:

The global financial system is developing additional channels through which trade, energy and payments can move.

That is the kind of structural change worth watching.

The next phase of the global financial reset may not be about one currency replacing another—it may be about countries gaining the ability to choose among several currencies and payment systems when conducting international trade.

And as energy becomes increasingly intertwined with geopolitics, the yuan's role in global trade settlement could become one of the most important indicators of how quickly that diversification develops.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters — Sinopec's half-year profit grew 19.3% despite Iran war and falling demand

• European Central Bank — The international role of the euro, June 2026

~~~~~~~~~~

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Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Sunday Afternoon 8-23-26

US Imports 6K Bpd Of Iraqi Crude After Seven-Week Gap

2026-08-23   Shafaq News- Baghdad/ Washington  US crude oil imports from Iraq resumed at 6,000 barrels per day (bpd) after seven consecutive weeks at zero, according to the latest US Energy Information Administration (EIA) data.  The week ending August 14 marked the first Iraqi crude shipments to the United States since late June, well below the 71,000 bpd recorded in the week ending June 19.

Canada led US crude suppliers at 3.806 million bpd, followed by Venezuela at 730,000, Brazil at 336,000, Mexico at 295,000, and Ecuador at 200,000. Libya supplied 26,000 bpd, Saudi Arabia 9,000, and Iraq 6,000, placing Baghdad eighth among countries with nonzero shipments.

The seven-week halt coincided with severe disruption to Iraq’s oil exports following the closure of the Strait of Hormuz, through which most of the country’s southern crude had previously been shipped.

Iraq, OPEC's second-largest producer, averaged 179,000 bpd in US-bound shipments in 2025. The halt reflects disruption to Iraq's export routes since the closure of the Strait of Hormuz on February 28, 2026, through which Iraq previously routed roughly 90% of its crude.https://www.shafaq.com/en/Economy/US-imports-6K-bpd-of-Iraqi-crude-after-seven-week-gap

Dollar Falls Against Dinar In Baghdad And Erbil

2026-08-23  Shafaq News- Baghdad/ Erbil   The US dollar fell against the Iraqi dinar on Sunday, hovering around 154,000 dinars per $100 in Baghdad and Erbil, the capital of the Kurdistan Region.

At the Al-Kifah and Al-Harithiya exchanges in Baghdad, the dollar traded at 154,100 dinars per $100, down from 154,300 dinars on Saturday, according to a Shafaq News market survey.

In Baghdad's local exchange shops, the selling price reached 154,500 dinars per $100, while the buying price stood at 153,500 dinars.

Rates eased in Erbil as well, where the dollar sold at 153,900 dinars per $100 and was bought at 153,850 dinars.

https://www.shafaq.com/en/Economy/Dollar-falls-against-dinar-in-Baghdad-and-Erbil-6 

Gold Prices Stabilize In Baghdad, Decline In Erbil

2026-08-23   Shafaq News- Baghdad/ Erbil   On Sunday, gold prices hovered around 1 million IQD per mithqal in Baghdad and Erbil markets, according to Shafaq News Agency market survey.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,006,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,002,000 IQD. The same gold had sold for 1,006,000 IQD on Saturday.

The selling price for 21-carat Iraqi gold stood at 976,000 IQD, with a buying price of 972,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1,005,000 and 1,015,000 IQD, while Iraqi gold sold for between 975,000 and 985,000 IQD.

In Erbil, 22-carat gold was sold at 1,035,000 IQD per mithqal, 21-carat gold at 988,000 IQD, and 18-carat gold at 847,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-stabilize-in-Baghdad-decline-in-Erbil-9

Dollar Approaches 200,000 Tomans In Iran

2026-08-23 Shafaq News- Tehran   The US dollar neared 200,000 tomans in Iran's free market on Sunday, setting a new record as strong demand for foreign currency and concerns over fresh US sanctions pushed the Iranian rial to another low.

The dollar traded at around 198,000 tomans, according to Iran's gold and currency information network, TGJU. Other free-market listings put the selling price close to 197,950 tomans, compared with roughly 195,950 tomans for buying. The dollar started the week at around 189,700 tomans, rising about 4.4% in less than seven days.

The dollar had fallen to around 153,000 tomans on June 17 after Tehran and Washington reached a preliminary understanding to end nearly six months of war. It has since recovered much of that decline, surpassing 191,000 tomans in July.

US President Donald Trump on Thursday launched a new push to isolate Iran economically, describing it as the “most crushing economic operation ever taken against any country.”

One toman = 10 Iranian rials. https://www.shafaq.com/en/Economy/Dollar-touches-200-000-tomans-in-Iran

French Exports To Iraq Reach $105M+ In Q2 2026

2026-08-23   Shafaq News- Baghdad/ Paris  French exports to Iraq rose 35.9% in the second quarter of 2026 to $106 million, according to data from the International Trade Centre’s Trade Map.

Exports increased by $28 million from $78 million in the first quarter, with pharmaceuticals recording the largest gain among major product categories. French pharmaceutical exports reached $27 million in the April-June period, compared with $2.9 million in the first quarter, an increase of $24.1 million.

Exports of essential oils, resinoids, perfumes, cosmetics and personal care products also climbed to $14 million, from $6.3 million in the previous quarter. Shipments of preparations made from cereals, flour, starch or milk, including pastry products, totaled $12 million during the second quarter.

Exports of electrical machinery, equipment and parts, however, fell to $9.9 million from $14 million in the first quarter.

Meanwhile, exports of machinery and mechanical appliances advanced to $9.8 million, compared with $6.5 million in the previous quarter. Exports of optical, medical and measuring instruments also jumped to $9.4 million, from $2.6 million in the first quarter.

Other French exports to Iraq included $4 million worth of dairy products, eggs, honey and other food products of animal origin. Exports of beverages, spirits and vinegar amounted to $3.4 million, while vehicles, parts and accessories accounted for $3.1 million.

Miscellaneous chemical products contributed a further $1.8 million to French exports to Iraq during the second quarter, the data showed. https://www.shafaq.com/en/Economy/French-exports-to-Iraq-reach-105M-in-Q2-2026

Oil Ministry To Represent Iraq At Gastech 2026

2026-08-23 Shafaq News- Baghdad   Iraq will participate in the Gastech 2026 exhibition in Bangkok next month, with Deputy Oil Minister for Gas Affairs Ezat Saber Esmaeel attending at the invitation of US energy technology company Baker Hughes, a source from the ministry told Shafaq News on Sunday.

The source said the event, “the world’s largest exhibition for natural gas and liquefied natural gas (LNG)”, is expected to draw more than 50,000 energy industry participants and over 1,000 exhibiting companies from 150 countries.

The ministry views such events as an opportunity to adopt the latest gas production technologies, reduce emissions, advance digital transformation in the energy sector, and keep pace with changes in the global gas market, according to the source.

Iraq remains one of the world’s largest gas-flaring countries. A World Bank report released in June 2026 ranked Iraq alongside Russia and Iran among the biggest contributors to global gas flaring in 2025. The data showed that the three countries collectively flared about 84 billion cubic meters of gas, accounting for nearly half of the global total.

Read more: Iraq's gas flaring paradox: a wealth of resources, a nation in need

https://www.shafaq.com/en/Economy/Oil-Ministry-to-represent-Iraq-at-Gastech-2026

2026 GDP Ranking Places Iraq 76th Globally

2026-08-22 Shafaq News- Baghdad   Iraq ranked 76th among the world’s poorest countries in 2026, with gross domestic product (GDP) per capita based on purchasing power parity (PPP) at $15,359.6, according to Global Finance magazine.

Burundi ranked as the world’s poorest country, with GDP-PPP per capita of $994.23, followed by the Central African Republic at $1,437.72 and South Sudan at $1,467.19.

At the other end of the ranking, Singapore recorded the highest GDP-PPP per capita at $164,317.89, followed by Luxembourg at $152,966.48 and Ireland at $152,632.06.

In April, the International Monetary Fund (IMF) ranked Iraq fifth among Arab economies in 2026, with GDP at PPP of $739.1 billion.

https://www.shafaq.com/en/Economy/2026-GDP-ranking-places-Iraq-76th-globally

Venezuela Abandoning The Bolivar And Adopting The U.S. Dollar Would Be The Biggest Currency Switch Since The Advent Of The Euro

Venezuela Abandoning The Bolivar And Adopting The U.S. Dollar Would Be The Biggest Currency Switch Since The Advent Of The Euro, Hanke Says

Jason Ma, Shawn Tully  Updated Sat, August 22, 2026  Fortune

Steve Hanke earned the moniker "Money Doctor" after advising governments across the globe on how to use currencies to get inflation under control.

The professor of applied economics at Johns Hopkins University is now helping Venezuela and has been named a special advisor to a leading member of the country's National Assembly.

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

He told Fortune's Shawn Tully that his solution for Venezuela's 400% inflation is full adoption of the U.S. dollar, meaning bolivars and the central bank would be abandoned. The idea is to remove the risk of a central bank printing money to help the government pay its bills, stoking higher prices.

"Taming inflation is the key to restoring stability in Venezuela, and all the other progress flows from that," Hanke explained. "Stability isn't everything, but without stability, which means stable prices, you have nothing. And there's no better case study showing that's true than Venezuela." 

He should know. The Money Doctor persuaded Montenegro in 1999 to dump the Yugoslav dinar for the Deutsche mark. He also oversaw Ecuador's switch from the sucre to the U.S. dollar in 2000, marking the first dollarization in Latin America since Panama a century earlier.

Then in 2009, Hanke became an informal advisor to the prime minister of Zimbabwe, which dollarized and reined in inflation. But a new government ditched the dollar in 2013, and hyperinflation returned.

Hanke is now on his second attempt in Venezuela, after his plan for a currency board in the mid-1990s failed to win a majority in the National Assembly. This time, he sees 50%-80% odds that dollarization will be approved.

"It would be the biggest switch from domestic currencies to an alternative since the introduction of the euro in 1999," he told Fortune's Tully.

Despite the ambitious plans, the U.S. dollar is already in integral part of the Venezuelan economy. Due to the collapsing bolivar, which has tanked 78% against the greenback over the past year alone, most consumers buy virtually everything with dollars.

In fact, almost everyone not working for the government or receiving aid and pensions from the government uses dollars. Hanke said this "spontaneous dollarization" raises the chances of an official currency switch.

But the prospect of losing the central bank, which acts as a lender of last resort, and essentially handing over monetary policy to the Federal Reserve are still daunting obstacles.

Even Argentine President Javier Milei, who campaigned on dollarization, backed off the idea after he took office. While he helped cool inflation sharply by slashing subsidies and the budget deficit, the annual rate is still high.

Argentina must also continue defending the peso, which is pegged to the dollar. Regional elections last year that crushed Milei's party sent the peso into a tailspin, and Treasury Secretary Scott Bessent came to the rescue with a currency swap line.

Still, Hanke sees dollarization as the key to unlocking Venezuela's economy, which is highly dependent on oil exports. A currency switch would induce a big surge of foreign investment into the oil sector, he predicted.

Then there's the $250 billion in Venezuelan debt, which is equivalent to about 150% of GDP. Hanke said increased production would provide the dollars needed to pay the principal and interest.

The end of hyperinflation would also lower interest rates, encouraging a wave of borrowing by consumers and businesses. That would in turn ignite the housing market and drive domestic investment, he added.

"If it happens soon, Venezuela would take off from negative growth this year to positive growth next year," Hanke said.

This story was originally featured on Fortune.com

Argentina must also continue defending the peso, which is pegged to the dollar. Regional elections last year that crushed Milei's party sent the peso into a tailspin, and Treasury Secretary Scott Bessent came to the rescue with a currency swap line.

Still, Hanke sees dollarization as the key to unlocking Venezuela's economy, which is highly dependent on oil exports. A currency switch would induce a big surge of foreign investment into the oil sector, he predicted.

Then there's the $250 billion in Venezuelan debt, which is equivalent to about 150% of GDP. Hanke said increased production would provide the dollars needed to pay the principal and interest.

The end of hyperinflation would also lower interest rates, encouraging a wave of borrowing by consumers and businesses. That would in turn ignite the housing market and drive domestic investment, he added.

"If it happens soon, Venezuela would take off from negative growth this year to positive growth next year," Hanke said.

This story was originally featured on Fortune.com

https://www.yahoo.com/finance/markets/currencies/articles/venezuela-abandoning-bolivar-adopting-u-231110931.html

Jon Dowling: Where Iraq Stands Now for the Rest of the Year and Wealth Transfer Updates, August 2026

Jon Dowling: Where Iraq Stands Now for the Rest of the Year and Wealth Transfer Updates, August 2026

8-22-2026

In a recent eye-opening podcast episode hosted by Jon Dowling, guest Sandy Miarecki breaks down the mechanics of an impending financial reset.

From the quiet recall of billions in physical U.S. dollar pallets overseas to the introduction of asset-backed Treasury notes, Miarecki outlines a transition away from the Federal Reserve system.

 Furthermore, the discussion dives into how states like Florida are preparing to decouple from federal control, and how everyday people can prepare for a historic market correction.

For years, alternative financial analysts have warned that the Federal Reserve note (the fiat U.S. dollar) is unsustainable. According to Sandy Miarecki, we are now witnessing the physical dismantling of this debt-based system.

One of the most startling revelations in the podcast is the ongoing recall of billions of dollars in cash pallets held globally. Historically, the U.S. has exported physical fiat currency to stabilize foreign markets or fund offshore operations. Recalling these pallets signifies a systematic winding down of the Federal Reserve note system.

What replaces the dying fiat dollar? Miarecki explains that the financial system is transitioning toward constitutional money:

The Return of Tangible Value: New Treasury notes, backed by physical assets like gold and silver, are being prepared to restore true purchasing power.

The Role of USDTS: The transition will bridge the physical and digital worlds. A new digital Treasury system (DTS/USDTS) backed by tangible assets is set to realign global finance with constitutional principles, ensuring currency cannot be printed out of thin air by private central banks.

As the federal government faces systemic insolvency, individual states are beginning to assert their constitutional sovereignty. A prime example discussed by Miarecki is Florida’s new Clarity Act.

The Clarity Act is more than just state-level legislation—it is a testbed for states looking to decouple from federal corporate control.

Affirming Sovereignty: The act reasserts the state’s independence from unconstitutional federal mandates.

Tax Reform: By implementing localized tax structures and financial protections, Florida is building a firewall against federal overreach.

A Model for the Nation: Due to Florida’s prominence and its ties to key political figures, the state is uniquely positioned to draft the blueprint for how other states can reclaim their independence as sovereign republics rather than administrative corporate subsidiaries of Washington, D.C.

We are not just in a standard economic downturn; according to Miarecki, both the U.S. residential real estate market and the stock market are trapped in unprecedented, artificially inflated “super hyperbubbles.”

For years, the Federal Reserve has kept interest rates artificially manipulated and pumped trillions of dollars into the banking sector. This has resulted in:

Historic Real Estate Inflation: Housing prices have detached entirely from median household incomes.

Extreme Margin Debt: Stock market investors have borrowed record amounts of capital to buy equities, creating a highly leveraged house of cards.

Miarecki warns that a sharp correction of over 50% is looming in both real estate and stocks. While a systemic collapse of this scale poses immense risk to the unprepared, it also presents a historic opportunity.

As the paper-based, manipulated markets dissolve, wealth will not disappear—it will transfer. Those who position themselves in tangible, physical assets (such as gold, silver, and real property) stand to benefit from a massive realignment of global wealth.

Beyond the numbers, the podcast touches on the geopolitical undercurrents driving this reset. Miarecki and Dowling discuss potential, highly anticipated indictments and arrests of key figures linked to globalist cartels and the “cabal.”

The dismantling of the Federal Reserve is not merely an economic event; it is a political extraction of corrupt entities that have controlled global wealth for over a century. The economic adjustments we are seeing are directly correlated with these behind-the-scenes legal and political maneuvers.

The insights shared by Sandy Miarecki paint a picture of a world in transition. While the main stream media focuses on daily political theater, the true shifts are happening in the plumbing of the global financial system and state-level sovereignty acts.

https://www.youtube.com/watch?v=g4phC6mMOFA

Sunday Iraq News Posted by Tishwash at TNT 8-23-2026

TNT:

Tishwash:  Exclusive: Parliament hosts Finance Minister to discuss the financial crisis and solutions

The First Deputy Speaker of the Iraqi Parliament, Adnan Faihan, revealed on Saturday that the Minister of Finance, Faleh Al-Sari, is expected to be hosted in Parliament to discuss the details of the financial crisis facing Iraq.

Faihan told Shafaq News Agency that "the Minister of Finance has requested to attend the House of Representatives, and the request to host him will be included on the agenda of one of the upcoming sessions, with the date of the hosting to be determined in the coming days," indicating that "the Minister wants to explain the details of the financial crisis and the expected solutions to address it."

He added that "the borrowing law will be included on the agenda of one of the upcoming sessions for its first reading."

Finance Minister Faleh al-Sari confirmed the existence of a real financial deficit that is hindering the completion of salary payments for employees, retirees and social welfare beneficiaries, noting that the total monthly obligations for salaries amount to about 7 trillion and 800 billion dinars.

For his part, Iraqi government spokesman Haider al-Aboudi confirmed that Iraq is facing "severe" financial challenges, noting that the government needs about 10.8 trillion dinars monthly to cover employee salaries and public expenditures, while the country's oil revenues do not exceed 2.5 trillion dinars.

It is worth noting that Prime Minister Ali Faleh al-Zaidi reassured employees and retirees on Friday that monthly salaries and government payments would be fully secured, while emphasizing that Iraq is going through "difficult and challenging" circumstances due to regional developments and the disruption of oil exports through the Strait of Hormuz.  link

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Tishwash:  Muzhir Muhammad Salih: The 2027 budget is based on an oil price between $50 and $60.

 The Prime Minister’s financial advisor, Mazhar Muhammad Salih, described the 2027 budget as one of the most complex budgets in terms of planning, given the geopolitical challenges surrounding Iraq, suggesting the adoption of a hypothetical oil price ranging between $50 and $60 per barrel.

Saleh said in a press statement that the upcoming budget will place salaries, wages, grants, pensions and the social welfare network at the top of its priorities, stressing that these items represent a “red line” that cannot be crossed.

He added that operational spending will focus on key sectors, including the maintenance of electricity networks, national security, and the provision of medicines and food baskets, which he described as “a safety valve for the Iraqi people.”

On the investment side, Saleh stressed that the electricity sector will be given top priority, noting that “electricity today is a matter of life or death for the economy and society,” and that the government program attaches great importance to the reconstruction and maintenance of power networks and addressing the electricity crisis that has been ongoing for years.

Regarding oil revenues, he explained that adopting a price between $50 and $60 per barrel comes as a precautionary measure to counter the fluctuations in global oil markets and the risks to trade routes, especially developments related to the Strait of Hormuz and its potential impact on Iraqi exports.

Saleh predicted that Iraq would return to exporting more than 3 million barrels per day after the end of the Strait of Hormuz crisis, suggesting the possibility of preparing a supplementary budget in the middle of 2027 if financial revenues improve.

Regarding the preparation of the budget, he indicated that the draft budget law will be transferred from the Ministry of Finance to the Cabinet in the coming days, and will then be referred to the House of Representatives to complete the procedures and legislative readings.

He pointed out that the state is moving towards implementing program and performance budgeting in a partial and gradual manner, with the aim of enhancing spending efficiency and linking government spending to the results achieved, instead of being satisfied with traditional oversight of spending.

Finance Minister Faleh Sari had previously announced the formation of five ministerial committees to prepare the draft general budget law for 2027, in cooperation with the World Bank  link

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Tishwash:  The First Deputy Speaker of Parliament told NINA: The Minister of Finance and the proposed loan law will soon be presented to Parliament.

Baghdad / NINA / First Deputy Speaker of Parliament Adnan Faihan confirmed that Parliament is awaiting the discussion of the proposed loan law and the hosting of the Minister of Finance in upcoming sessions.

Faihan stated to the National Iraqi News Agency ( NINA ): "The Minister of Finance has officially requested to appear before Parliament to explain the financial crisis and the possible solutions proposed for implementation."

He clarified: "The date for this meeting will be included on the agenda of one of the upcoming sessions."

He added: "The proposed loan and grant law will soon arrive from the government and will be placed on the agenda of Parliament sessions to proceed through the legislative and legal process and be put to a vote."

Regarding the delay in completing the cabinet, Fayhan affirmed that "there is a general trend among the political blocs, the government, and parliament to finalize the cabinet formation, which we expect to reach the House of Representatives soon for a vote." He pointed out that the delay in voting on the remaining ministerial candidates is linked to several factors, including entitlements, such as the Ministry of Interior portfolio, for which a candidate has not yet been decided, as well as a Kurdish disagreement over who will occupy the position of Deputy Prime Minister and who will hold the ministerial portfolio.   link

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Tishwash:  Iraq Warns Against Illegal Forex and Crypto Trading

At a Glance

Forex and crypto trading prohibited

Illegal market continues to expand

Citizens face significant financial losses

Authorities warn of financial crimes

Information obtained by Channel8 indicates that illegal Forex and cryptocurrency trading continues to expand in Iraq and the Kurdistan Region despite official restrictions, with unregulated platforms exposing users to significant financial and legal risks.

Key Statements and Focus Area

Central Bank of Iraq: Forex and cryptocurrency trading through unauthorized platforms is prohibited.

Kurdistan Region Ministry of Interior: No company or mobile application has been officially licensed to conduct this type of business.

Financial regulators: Restrictions are aimed at preventing money laundering, fraud, illicit financing, and the unauthorized movement of cash outside the country.

Despite the official restrictions, an expanding underground market allows people in Iraq and the Kurdistan Region to trade foreign currencies and cryptocurrencies through unregulated platforms and brokers.

Information obtained by Channel8 indicates that millions of dollars are being exchanged daily through anonymous applications, social media brokers, and informal financial networks.

One of the most common methods is peer-to-peer trading through international cryptocurrency platforms, including Binance and OKX.

Users can also arrange transactions through brokers operating on Telegram and other social media platforms, exchanging physical cash for digital currencies such as USDT.

Some traders use privately issued MasterCards and Visa cards to fund digital wallets. Such transactions can result in bank accounts being suspended.

Unlicensed currency exchange offices also reportedly operate as intermediaries, accepting cash and transferring digital assets to customers.

Iraq currently has no comprehensive legal framework regulating or protecting cryptocurrency trading. Authorities have therefore warned that users engaging with unauthorized platforms have limited legal protection if their funds are lost or stolen.

The restrictions are also intended to combat money laundering, prevent the financing of prohibited organizations, protect citizens from fraud, and limit the movement of physical cash outside the country.

Global data cited in the report indicates that ordinary retail traders face particularly high failure rates.

The UK Financial Conduct Authority and the European Securities and Markets Authority have reported that between 70% and 89% of retail users lose money in certain high-risk trading markets.

The information also indicates that inexperienced traders can lose their capital within a short period, with many accounts reportedly lasting less than 90 days before being depleted.

Professional and institutional traders generally operate with structured risk-management systems and longer-term strategies.

By contrast, ordinary retail users are more likely to rely on short-term speculation, limited financial information, and panic-driven decisions.

Estimates cited in the report place the success rate of ordinary retail traders at around 10% to 15%, compared with 75% to 85% for institutional and professional traders.

FYI

Foreign exchange (Forex) and cryptocurrency trading platforms operate within a decentralized global network that relies entirely on digital matching systems rather than centralized physical exchanges. Because these markets lack a fixed physical location, retail users interact directly with international brokers via electronic applications or peer-to-peer (P2P) networks to trade high-risk assets.

Unlike traditional banking, the rapid fluctuations in digital currency values mean that missing capital can vanish instantly into the digital space without any physical collateral or assets left behind. Due to these structural vulnerabilities, major regulatory bodies like the UK's Financial Conduct Authority (FCA) enforce strict transparency rules worldwide to warn the public about high retail loss rates.

Locally, because Iraq lacks any formal legislative framework to monitor or tax these transactions, the Central Bank of Iraq maintains a total prohibition on digital trading to prevent unregulated cash outflows and protect citizens from international fraudulent schemes.  link

News, Rumors and Opinions Sunday 8-23-2026

Ross: Take a Look at How Far We’ve Come

8-22-2026

One of my employees who invested in IQD a while back asked me for an update so I tried to formulate something concise to share with them and man… when you take a look at how far we’ve come in such a short time… so exciting:

• Official announcement: decision to delete 3 zeros is made

• Zeros deletion = Step 1 (internal cleanup). Rate move = Step 2

• ~40 trillion IQD potentially blocked via proof-of-origin checks

• Communications Minister speaking on currency is unusual (normally CBI territory)

• Zaidi’s first 100 days framed as major repositioning + serious anti-c********n

• Clawbacks and canceled contracts improve fiscal runway for a higher rate

• 2027 budget submission expected late Sept / early Oct

• Budget written at the old rate becomes obsolete if the rate moves after — creates a hard window

• Digital payment infrastructure and bank reintegration advancing

• Regional pressure has made banking + fiscal reforms non-optional

• Everything is aligning for the rate adjustment phase

Source(s):
• https://x.com/Ross_ptm/status/2091023597703983121

https://dinarchronicles.com/2026/08/22/ross-take-a-look-at-how-far-weve-come/

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

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

Jeff Question: "Do you think Trump is the one that has not given the green light?"  No, no, no, no.   Trump has already given the green light.  It is a scheduled rate change date.  Bankers prepared this.  Bankers drafted it.  Bankers  schedule everything.  That is what we're waiting for, a scheduled date.  Rate changes first and then zeros get removed...  

Boot-On-The-Ground Guru OmarThe CBI hasn't announced any new exchange rate or a timetable for lower denomination notes.  It is worth watching for official CBI statement and parliamentary actions.  Those are more reliable than media reports or political commentary.  At this stage of the monetary reform the most important signals that we're waiting for are going to come directly from the Central Bank of Iraq, from the board of directors.  That's the official statement we're waiting for.

Mnt Goat   Article:  “MINISTER OF COMMUNICATIONS:   THE DECISION TO REMOVE ZEROS AND CHANGE THE IRAQI CURRENCY HAS BEEN FINALIZED.” This is a WOW! WOW! WOW! article... We...know from talking to my CBI contact the urgency of the situation in getting this liquidity back into the banks.

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

Breaking: Iraq Disarmament & The $40 Trillion US Debt: What You Need to Know - IQD Update

Edu Matrix:  8-22-2026

What IQD Investors Can Do to Protect Themselves from U.S, Debt. The US national debt has reached $40 trillion, creating massive uncertainty for global markets. Understand how these financial risks connect to ongoing geopolitical tensions in the Middle East.

This analysis examines the intersection of the growing US debt crisis and the Iraq conflict's long-term impact. We break down the current state of fiscal policy and why international stability remains fragile.

This report is designed for viewers tracking how major economic shifts influence global affairs and investor sentiment. We review the latest data on gold prices as a barometer for market fear and assess the ongoing repercussions of disarmament efforts in Iraq.

By connecting these two critical narratives, you will get a clearer picture of the factors driving current market volatility and political instability.

https://www.youtube.com/watch?v=8WaVRLT7Mb0

Seeds of Wisdom RV and Economics Updates Sunday Morning 8-23-26

Good Morning Dinar Recaps,

When U.S. Debt Becomes a Global Market Problem: Bonds and the Dollar Send a New Warning

The United States has crossed the $40 trillion debt threshold at the same time that long-term Treasury yields have surged and the dollar has weakened. The combination is forcing investors to reconsider an assumption that has supported global finance for decades: that higher U.S. yields will automatically strengthen demand for both Treasuries and the dollar. 

Overview

• U.S. national debt has surpassed $40 trillion, adding urgency to concerns about the cost of financing America's persistent deficits.

• The 30-year Treasury yield recently reached about 5.34%, its highest level since 2007, while Treasury has expanded its long-term bond buyback operations in an effort to support market liquidity.

• At the same time, the dollar has weakened despite elevated Treasury yields, creating an unusual combination that is drawing greater attention from global investors.

Key Developments

1. $40 trillion marks a new stage for U.S. debt

The U.S. national debt has now crossed $40 trillion for the first time.

The milestone itself does not mean a financial crisis is imminent. The United States continues to possess enormous economic capacity and the dollar remains the world's dominant reserve currency.

The concern is what happens when the debt burden continues growing while the government must refinance and issue enormous quantities of new securities.

The question increasingly becomes:

How much yield must the Treasury offer to keep attracting capital?

That question matters because even a relatively small increase in the average interest rate paid on government debt can eventually translate into hundreds of billions of dollars in additional annual interest expense.

Reuters reported that U.S. interest payments have already exceeded $1 trillion annually.

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2. Long-term Treasury yields are sending a warning

The 30-year Treasury yield climbed to approximately 5.34% this week, the highest level since 2007.

This is particularly significant because long-term Treasury yields influence borrowing costs throughout the financial system.

Mortgages, corporate bonds, infrastructure financing and other long-duration assets are all affected by the Treasury benchmark.

Reuters described this week's move as part of a global bond-market selloff, with investors concerned about U.S. fiscal stability, inflation and the future direction of Federal Reserve policy.

The Treasury has responded by doubling the size of certain long-term bond buyback operations to at least $4 billion per operation.

That helped push yields lower temporarily, but the market subsequently regained some of the lost ground.

This distinction is important.

The Treasury can improve liquidity in the bond market. It cannot eliminate the underlying supply of government debt or the fiscal deficits creating that supply.

3. The dollar is behaving differently than traditional models would suggest

Under normal circumstances, higher U.S. interest rates can make dollar assets more attractive.

Investors earn more by holding Treasury securities, and demand for those securities can support the dollar.

But the current environment is producing a different signal.

Long-term yields are rising while the dollar is weakening.

MarketWatch reported that the dollar suffered a significant decline following Treasury's expanded buyback announcement, as investors questioned whether the intervention could address the deeper fiscal issues behind the bond-market pressure.

That doesn't mean investors have abandoned the dollar.

It does suggest that higher yields are no longer automatically being interpreted as a positive signal for the currency.

Instead, investors may increasingly be asking why yields are rising.

If yields rise because the economy is strong, that can be supportive for the dollar.

If yields rise because investors require greater compensation for inflation, fiscal deficits or debt-related risk, the currency response can be very different.

4. The Treasury market is becoming the transmission mechanism

This is where the story becomes much larger than the United States.

The Treasury market sits at the center of global finance.

It provides a benchmark for pricing everything from corporate debt to mortgages and is a major source of liquid assets for banks, funds and international investors.

The Brookings Institution describes the Treasury market as a critical channel for government financing, Federal Reserve policy and the global pricing of financial assets.

That means a sustained repricing of U.S. government debt doesn't stay confined to Washington.

It can flow into:

• Global interest rates

• Currency markets

• Stock valuations

• Emerging-market borrowing costs

• Real estate

• Commodity prices

• Sovereign debt markets around the world

In other words:

The Treasury market is one of the main transmission mechanisms through which U.S. fiscal problems can become global financial problems.

Why This Matters

For decades, the United States benefited from an extraordinary financial advantage.

The dollar was the world's dominant reserve currency, while Treasury securities were treated as among the safest and most liquid assets available.

That created a reinforcing cycle:

Global demand for Treasuries → demand for dollars → lower U.S. borrowing costs → continued Treasury issuance → continued global use of the dollar.

The system is still functioning.

But today's market action raises an important question:

What happens if investors begin demanding substantially more compensation to absorb additional U.S. debt?

That would represent a structural change even if the dollar remains the world's leading reserve currency.

Why It Matters to Foreign Currency Holders

This is especially important for foreign-currency holders because the value of a currency cannot be separated completely from the financial system supporting it.

The dollar remains extraordinarily important to international trade, banking and reserves.

But foreign investors are increasingly looking at total return rather than yield alone.

A Treasury yielding 5% may appear attractive.

But if the dollar declines significantly against another currency, the return for a foreign investor can be substantially reduced when converted back into that investor's home currency.

That means the relationship between Treasury yields and the dollar deserves close attention.

Higher U.S. yields are not automatically bullish for the dollar if investors believe those yields reflect rising fiscal or inflation risk.

Implications for the Global Financial Reset

• The repricing is happening inside the existing system.

There is no evidence that the dollar-based financial system is about to disappear overnight.

Instead, the system is being repriced through interest rates, debt costs, currencies and capital flows.

• Sovereign debt is becoming increasingly important to global financial stability.

The $40 trillion U.S. debt milestone comes at a time when many other major economies are also confronting elevated debt and borrowing requirements.

• The dollar-Treasury relationship is being tested.

The unusual combination of higher long-term yields and a weaker dollar deserves attention because it suggests that yield alone may no longer be enough to determine currency demand.

• Central banks face a narrower policy corridor.

If inflation remains elevated, cutting rates becomes more difficult.

But if governments must pay increasingly high rates to finance debt, keeping rates high becomes increasingly expensive.

That creates a difficult collision between monetary policy and fiscal sustainability.

• Alternative assets can benefit from uncertainty.

The same concerns surrounding debt, inflation and currency purchasing power can increase interest in gold and other assets that are not directly tied to government debt.

That does not mean every alternative asset will rise. It means the incentive to diversify can increase when confidence in traditional fixed-income assets is being reassessed.

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What to Watch Next

1. Whether the 30-year Treasury yield remains around or above 5%.

2. Whether the Treasury expands its bond-buyback program again.

3. Whether the dollar continues weakening despite elevated U.S. yields.

4. What new Treasury issuance will look like over the coming quarters.

5. Federal Reserve Chairman Kevin Warsh's policy signals, particularly regarding inflation and long-term rates.

6. Whether foreign investors continue increasing or reducing their Treasury exposure.

7. Whether rising U.S. yields begin producing greater pressure in other sovereign bond markets.

Bottom Line

The important development is not simply that U.S. debt has reached $40 trillion.

It is the combination of three signals appearing at the same time:

–A record debt burden.

–Elevated long-term Treasury yields.

–A dollar that is not strengthening in proportion to those yields.

The United States still has enormous financial advantages, and the dollar remains the world's dominant reserve currency. This is not a prediction of imminent dollar collapse.

But the market is asking a different question than it did in the era of ultra-low interest rates.

How much does the United States have to pay to keep financing its debt—and what happens to the dollar if investors increasingly view that yield as compensation for risk rather than simply an attractive return?

That is the development worth watching.

The next stage of the global financial reset may not begin with the replacement of the dollar. It may begin with the gradual repricing of the debt, the bonds and the currency that have supported the existing financial system.

Seeds of Wisdom Team
Newshounds News

Sources

• Reuters — U.S. debt crosses $40 trillion threshold

• Reuters — “Morning Bid: Big, bad bond market”

~~~~~~~~~~ 

🌱 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

Iraq Economic News and Points To Ponder Late Saturday Evening 8-22-26

A Crisis Of Confidence And A Cash Economy: Around 97 Trillion Iraqi Dinars Are Outside The Banking System

Shafaq News - Baghdad    Cash held outside the banking system constitutes one of the most prominent challenges facing the Iraqi economy, given the continued reliance of a large segment of citizens and merchants on cash transactions and keeping part of their money outside banks.

While money outside the banking system does not necessarily mean that it is entirely hoarded, its sheer size raises questions about the weakness of banking transactions and the ability of banks to attract savings and convert them into loans and financing for projects and investments.

This reality reopens the file on the relationship between citizens and banks, the reasons for the continued preference for cash, and the repercussions of a cash economy on the movement of money and economic activity, especially with the presence of dozens of banks operating in the country.  

Money Outside Banks

The Prime Minister's financial advisor, Mazhar Muhammad Saleh, told Shafaq News Agency that "the fact that some cash remains outside the banking system represents one of the challenges facing the Iraqi economy, given the limited benefit the banking sector derives from these funds in deposit and credit operations, and in financing projects and investments."

Saleh explains that “money hoarded in cash, whether by households or companies, remains outside the scope of financial intermediation, which limits the ability of banks to employ savings in financing economic activity, and increases reliance on cash and the informal economy, in addition to the high cost of cash transactions and weak financial transparency.”

He emphasizes that "the problem does not lie in the use of cash itself, but rather in its transformation into a means of hoarding savings instead of directing them through financial channels towards investment and production."

He points out that “returning these funds to the economic cycle requires building trust in banks and providing real incentives for saving, through developing savings products, offering competitive returns on deposits, enhancing depositor protection, improving banking services, reducing the cost and procedures for opening accounts and transfers, and expanding electronic payments, digital wallets, and points of sale.”

Saleh concludes that "the process should not stop at the transfer of money from homes to banks, but should move from deposits to credit, from credit to investment, and ultimately to production and job creation."  

The Amount Of Money Outside Banks 

In contrast, financial expert and former Director General of the Central Bank, Mahmoud Dagher, offers a different interpretation of the nature of funds outside banks, stressing that they do not all represent hoarded funds.

Dagher told Shafaq News Agency that "the amount of cash issued is about 105 trillion dinars, of which about 8 trillion dinars are inside the banking system, while about 97 trillion dinars are outside it."

He explains that “about two-thirds of the money outside the banking system is used to settle cash payments between merchants, real estate sales and purchases, and pay salaries and wages, while hoarding may represent about a quarter of the money outside banks.”

Dagher links the continued reliance on cash to “insufficient trust in banks, along with prevailing customs in Iraqi society and the slow transition to electronic payment,” noting that “the transition to a broad electronic payment system requires a long period of time, with the continued development of banks and payment tools.”

The figures for monetary issuance highlight the importance of the discussion regarding the amount of money circulating outside banks. However, monetary issuance does not necessarily mean that the entire amount represents money hoarded by citizens, nor does its increase automatically mean the printing of new money.

According to Dagher's reading, the majority of money outside banks enters the market and settles cash payments, which makes distinguishing between circulating cash and hoarded money essential when assessing the size of the problem.

Cash Presence 

Despite the presence of a large number of banks, cash transactions still occupy a large part of economic activity in Iraq.

The number of operating banks reached 72, including 7 government banks and 65 private banks. However, the large number of banks does not necessarily mean a high level of banking transactions, as the main challenge remains the extent to which citizens and companies use banks for saving, payment and financing.

The Central Bank is working to promote financial inclusion and expand the customer base of the banking system, in addition to expanding electronic payment methods and spreading financial literacy.

First Choice For Iraqis

Economic expert and professor of political science at Dhi Qar University, Najm Abdul Tarish, told Shafaq News Agency that "the continuation of the cash economy is linked to a set of overlapping factors, including weak confidence in banks, deeply rooted habits of dealing in cash, the expansion of the informal economy, as well as the limited use of electronic payment in some activities."

He adds that "the problem does not lie in the existence of cash within the economy, as it is a natural part of any financial system, but rather in cash becoming the primary means of settling transactions and holding savings, which reduces the money that passes through banks and limits their ability to create credit and finance economic activity."

Available data indicates that the number of payment cards in Iraq has exceeded 20 million, but their actual use is still less than their widespread use, while a number of cardholders primarily use the accounts to withdraw salaries rather than use them for daily purchases and payments.

 Possible Solutions

Addressing the problem does not stop at returning the funds to the banks, as the ultimate goal is to bring them back into the economic cycle more efficiently.

When money is converted into deposits, it can give banks greater ability to provide credit, and when credit is converted into investment and productive projects, this can be reflected in growth, job creation, and increased economic activity.

Therefore, the challenge facing Iraq is not only the amount of money outside the banks, but also building a banking system that makes the citizen and the merchant find in the bank a safer, more useful and easier way than keeping money and dealing with it in cash.

Ultimately, the large amount of cash outside the banking system reveals the continued dependence of the Iraqi economy on cash transactions, at a time when the banking sector is seeking to increase its role in savings, credit, and financing the economy.

While Mazhar Muhammad Saleh believes that returning funds to the banking system requires restoring confidence and stimulating savings, Mahmoud Dagher points out that the largest portion of funds outside banks actually moves in the market and does not represent complete hoarding, while Najm Abdul Tarish links the continuation of the cash economy to weak confidence, prevailing habits, and the limited use of electronic payment.

The transition from a cash-based economy to one more reliant on banks and electronic payments remains linked to the banking sector’s ability to restore confidence, provide more efficient services, and transform funds from mere cash transactions into deposits, credit, investment, and production.

https://www.shafaq.com/ar/تقارير-وتحليلات/زمة-ثقة-واقتصاد-كاش-نحو-97-تريليون-دينار-عراقي-خارج-الجهاز-المصرفي

Exclusive: Parliament Hosts Finance Minister To Discuss The Financial Crisis And Solutions

Shafaq News - Baghdad   The First Deputy Speaker of the Iraqi Parliament, Adnan Faihan, revealed on Saturday that the Minister of Finance, Faleh Al-Sari, is expected to be hosted in Parliament to discuss the details of the financial crisis facing Iraq.

Faihan told Shafaq News Agency that "the Minister of Finance has requested to attend the House of Representatives, and the request to host him will be included on the agenda of one of the upcoming sessions, with the date of the hosting to be determined in the coming days," indicating that "the Minister wants to explain the details of the financial crisis and the expected solutions to address it."

He added that "the borrowing law will be included on the agenda of one of the upcoming sessions for its first reading."

Finance Minister Faleh al-Sari confirmed the existence of a real financial deficit that is hindering the completion of salary payments for employees, retirees and social welfare beneficiaries, noting that the total monthly obligations for salaries amount to about 7 trillion and 800 billion dinars.

For his part, Iraqi government spokesman Haider al-Aboudi confirmed that Iraq is facing "severe" financial challenges, noting that the government needs about 10.8 trillion dinars monthly to cover employee salaries and public expenditures, while the country's oil revenues do not exceed 2.5 trillion dinars.

It is worth noting that Prime Minister Ali Faleh al-Zaidi reassured employees and retirees on Friday that monthly salaries and government payments would be fully secured, while emphasizing that Iraq is going through "difficult and challenging" circumstances due to regional developments and the disruption of oil exports through the Strait of Hormuz.

https://www.shafaq.com/ar/سیاسة/خاص-البرلمان-يستضيف-وزير-المالية-لبحث-ال-زمة-المالية-والحلول

"The New Dinar Alone Is Not Enough," Says Ziad Al-Hashemi: Changing The Currency Without Institutions Capable Of Tracking Suspicious Funds Could Lead To Costly Reforms.

Baghdad - One News   The debate over changing the Iraqi currency and removing zeros has reopened a broader issue than just the shape of the dinar or its nominal value, after economist Ziad al-Hashemi considered that the project, if presented within an integrated vision, could turn from a monetary and accounting procedure into a tool to restore part of the government’s control over the money supply and contain the funds accumulated outside the official financial system.

Al-Hashemi said in a post on the “X” platform that the conflicting statements regarding the issue, between talk of a trend to change the currency and political confirmations in this direction, versus the denial of the existence of a plan to implement it, have put the public in a state of ambiguity, coinciding with rising prices and the sensitivity of any talk related to the future of the dinar.

He believed that this contradiction opens the possibility that raising the issue was a "trial balloon" to gauge public opinion before any decision was made, or an early attempt to create a popular stance against the idea and block it before it moves to the implementation stage.

Al-Hashemi explained that changing the currency is not a simple technical decision that can be implemented in isolation from the political and economic environment, but rather a process that requires extensive financial, banking and institutional requirements, and may encounter political obstacles capable of disrupting the project even if its economic justifications are available.

He pointed out that concerns about prices, inflation, and implementation costs remain real and cannot be ignored, stressing that removing zeros alone does not create economic reform unless it is linked to production, development, and the development of the banking system.

But Al-Hashemi stressed the need to separate the change of currency with the aim of simplifying accounting figures and transactions, from its use within a broader project aimed at readjusting the movement of money, tightening the noose on corruption funds, and regaining control over as much as possible of the monetary mass issued and circulating outside the official system.

According to his view, currency replacement may force large amounts of cash stored outside banks to return to exchange channels, giving institutions a greater opportunity to scrutinize the movement of funds, provided they have the necessary legal and regulatory tools to deal with suspicious funds.

Al-Hashemi believes that the unique nature of the Iraqi economy makes assessing reforms solely from the perspective of their direct costs insufficient, as some measures may impose short-term negative effects in exchange for longer-term strategic gains related to reorganizing the economy and reducing the influence of corruption networks.

He stressed that the real test of the project will not be in the design of the new dinar or the number of zeros removed, but rather in the government’s ability to turn the replacement process into an opportunity to reorganize the monetary mass, uncover funds outside the official cycle, and curb illicit funds.

Al-Hashemi concluded that the project's success remains contingent on the existence of a government and institutions possessing the will and ability to confront corruption, while changing the currency without these requirements could impose a heavy cost on the economy without achieving genuine reform. https://1news-iq.net/الدينار-الجديد-وحده-لا-يكفي-زياد-اله/

FRANK26…8-22-26…OUR BANKS KNOW

‍KTFA

Saturday Night Video

FRANK26…8-22-26…OUR BANKS KNOW

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

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

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https://www.youtube.com/watch?v=ynN5iq4Yskk