News Posted by Tishwash at TNT 4-3-2026

TNT:

Tishwash:  Trump condemns attacks on Kurdistan and affirms Washington's support for protecting Iraq's security.

 On Wednesday evening (April 1, 2026), the President of the Kurdistan Region, Nechirvan Barzani, received a phone call from US envoy Tom Barrack, who conveyed a message of solidarity from US President Donald Trump following the recent attacks targeting the region.

 Trump strongly condemned the drone attack that targeted President Barzani's house in Duhok, stressing Washington's full support for protecting the security and stability of Iraq and the Kurdistan Region. Barzani expressed his appreciation for the US positions and assistance.

The Kurdistan Region Presidency stated in a statement received by 964 Network that “His Excellency Mr. Nechirvan Barzani, President of the Kurdistan Region, received this evening (Wednesday, April 1, 2026), a telephone call from Mr. Tom Barrack, Special Envoy of US President Donald Trump to Syria and US Ambassador to Turkey.”

The statement continued, “Mr. Barak conveyed a message from President Donald Trump, in which he strongly condemned the attacks targeting the Kurdistan Region, and the drone attack that targeted the home of President Nechirvan Barzani in Duhok. President Trump expressed his solidarity with His Excellency, and his condolences to the families of the martyrs, wishing a speedy recovery to the wounded.”

He added that “in the phone call, Mr. Barack affirmed President Trump’s and the United States’ full support for protecting the security and stability of Iraq and the Kurdistan Region. For his part, President Nechirvan Barzani thanked him for the call, expressing his appreciation for America’s positions and assistance to Iraq and the Kurdistan Region.”

He pointed out that “the repercussions of the war formed another axis of communication in the region.  link

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Tishwash:  The World Bank expresses "deep concern" over the economic consequences of the war.

World Bank Managing Director Pascal Donohoe expressed "deep concern" about the impact of the war in the Middle East on the global economy, at a time when a number of countries were already in a difficult situation due to a series of global crises.

"We are very concerned about the consequences this will have in terms of inflation, jobs and food security, and that is why we are preparing to provide assistance" to countries that request it, Donohue told AFP.

The Washington-based organization pays particular attention to the situation in African and Asian countries, which are especially vulnerable to rising energy prices and supply shocks.

He added, "We are consulting with several governments and countries to understand their needs, and I expect we will have more information in the coming weeks."

The World Bank, in particular, will have to use its spring meetings, to be held in Washington from April 12 to 17, "to assess the scale of the potential response."

Donohue said that currently "we are seeking to identify the available funds and interventions that may be necessary to help countries deal with the short-term effects of the war in Iran."

As part of these efforts, the World Bank on Wednesday issued a joint statement with the International Monetary Fund and the International Energy Agency announcing the creation of a "coordination group to ensure the most effective response" by these institutions to the ongoing crisis.

It is an initiative that can be expanded to include other institutions with the aim of providing expertise in different fields. link

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Tishwash:  Oil companies are withdrawing from Iraq, deeming it high-risk.

 International oil companies, including BP , have begun evacuating foreign staff from their sites in Basra and Kirkuk, as security threats escalate in the country.

Politico reported on Thursday (April 2, 2026) that companies described Iraq as a "high-risk environment" due to the increasing number of rocket and drone attacks targeting vital facilities and Western interests.

The report indicated that the evacuation was part of precautionary measures to protect employees, while maintaining operational processes at a minimum through local staff.

This move comes after a series of evacuations that began in March, involving foreign employees at oil fields in southern Iraq, following drone incidents inside production sites.

Hundreds of workers from American and European companies have also gradually left their posts, amid fears that energy facilities could become direct targets in the ongoing conflict.

These developments coincide with an escalation of attacks inside Iraq, which have targeted oil fields and facilities, military sites, and diplomatic missions.

Despite continued production, the reduction in foreign presence raises concerns about declining investments and a slowdown in field development, at a time when Iraq is almost entirely dependent on oil revenues.

The Iraqi government had previously affirmed its commitment to keeping the country out of the conflict, stressing that Iraq "is not a party to the conflict" and refuses to be drawn into it.

However, developments on the ground, and the evacuation of foreign companies, reflect the magnitude of the challenge in shielding Iraq from the repercussions of regional escalation. link

Tishwash:  A coalition of 40 countries threatens Iran with harsh sanctions if it does not reopen the Strait of Hormuz.

International pressure is mounting on Iran as some 40 countries lead a move to immediately reopen the Strait of Hormuz, in a scene reflecting growing global concern over the choking of the world's most important energy artery.

British Foreign Secretary Yvette Cooper's remarks reveal a sharp tone, as she considered that Tehran is "holding the global economy hostage," at a time when Western countries are moving towards coordinating new sanctions if the shutdown continues.

The crisis is deepening as shipping traffic has plummeted by 93% since the outbreak of the war in the Middle East, according to data from Kpler. This has led to sharp increases in oil and gas prices, especially since approximately 20% of global supplies pass through the street. The limited transit figures – only about 225 tankers since the start of the conflict – demonstrate the extent of the disruption to global supply chains, with only a few ships, mostly Iranian or Asian, continuing to pass through.

International positions on how to handle the crisis are divergent. US President Donald Trump is pushing for direct intervention to protect the strait, calling on the countries that benefit from it to “seize and secure it,” while French President Emmanuel Macron warns against any military action, describing it as unrealistic and fraught with serious risks. This divergence reflects a Western division regarding the limits of possible escalation.

Regional and international actors have become involved in the crisis, with the Gulf Cooperation Council calling for a UN mandate authorizing the use of “all means” to ensure navigation, while Italy is pushing for the establishment of a humanitarian corridor to avert a potential global food crisis. Meanwhile, China blames the United States and Israel, arguing that their military operations are the root cause of the disruption to shipping, further deepening the international divide over the narrative of the crisis.

Alternative economic moves, such as Iraq resorting to exporting oil via Syria, reveal the beginning of a temporary redrawing of the energy map, while Iran pledged to allow some tankers, in a move that suggests attempts to contain the escalation without making a full concession  link

Seeds of Wisdom RV and Economics Updates Friday Morning 4-3-26

Good Morning Dinar Recaps,

Brazil Boosts Gold Reserves While Trimming Dollar Exposure

BRICS Nations Accelerate Diversification as Global Reserve Strategy Evolves

Overview

• Brazil added 42.8 tons of gold in late 2025

• Gold reserves jumped 33%, signaling strategic repositioning

• U.S. dollar share dropped to 72%, continuing a multi-year decline

• BRICS nations collectively expanding gold holdings

• Global reserve system showing early signs of diversification

Key Developments

1. Brazil significantly increases gold holdings
Brazil’s Central Bank made a decisive move by purchasing 42.8 tons of gold between September and November 2025, raising total reserves to 172.4 tons.

• Gold now represents 7.19% of Brazil’s reserves

• It has become the second-largest reserve asset after the dollar

This reflects a clear shift toward hard assets amid global uncertainty

2.Dollar exposure steadily declines—but remains dominant
Despite diversification, the U.S. dollar still holds the majority share of Brazil’s reserves:

• 80.42% (2022) → 72% (2025)

• Decline has been consistent year after year

Other currencies gaining ground include:

• Euro (6.60%)

• Chinese renminbi (5.94%)

This is not a sudden exit from the dollar—but a measured rebalancing strategy

3.BRICS nations expand gold accumulation strategy
Brazil’s move aligns with a broader trend across BRICS:

• Combined BRICS gold holdings now exceed 6,000 tonnes

• Represent roughly 20–21% of global gold reserves

• Over 50% of global gold purchases (2020–2024) came from BRICS central banks

Major holders include:

• Russia (~2,300+ tonnes)

• China (~2,200+ tonnes)

• India (~880 tonnes)

Gold is increasingly being treated as a neutral reserve asset outside the dollar system

4.Diversification driven by geopolitical and economic uncertainty
Brazil’s Central Bank confirmed its strategy is based on:

• Rising geopolitical tensions

• Economic uncertainty in global markets

• Need for stronger reserve stability

It also expanded holdings in:

• Renminbi, euro, and South Korean won

This reflects a broader move toward multi-currency reserve systems

5.Future BRICS currency concepts gaining attention
BRICS nations are also exploring:

• A “Unit” settlement system

• Proposed structure: 40% gold-backed, 60% local currencies

While still in development, this signals:

• Long-term planning for alternative trade settlement systems

The shift is gradual—but increasingly coordinated

Why It Matters

• Gold accumulation signals declining trust in fiat-only reserves

• Central banks are preparing for potential currency volatility

• Diversification reduces dependence on any single currency system

This is a strategic hedge—not a sudden financial reset

Why It Matters to Foreign Currency Holders

• Currency values are influenced by reserve composition shifts

• Gold-backed positioning may strengthen financial resilience

• Dollar dominance remains—but is slowly being diluted

The system is evolving, not collapsing

Implications for the Global Reset

• Pillar 1: Return to Hard Assets

• Gold is regaining importance as a core reserve foundation

• Central banks are hedging against fiat risk

• Pillar 2: Multi-Currency Reserve System Emerging

• Movement toward diversified currency baskets

• Reduced reliance on a single global reserve currency

This reflects a transition toward a more balanced global system

Closing Perspective

Brazil’s actions highlight a measured but meaningful shift in global finance.

The dollar remains dominant, but the steady rise of gold and alternative currencies shows that central banks are preparing for a more diversified future.

The reset, when it comes, is not sudden—it is being built step by step through policy decisions like these.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Watcher.Guru — Brazil Cuts Dollar Holdings, Adds 42 Tons of Gold as BRICS Push Grows

• Central Bank of Brazil — Annual Report on International Reserves (March 31, 2026)

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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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Thank you Dinar Recaps

Iraq Economic News And Points To Ponder Friday Morning 4-3-26

Spacex Is Targeting A Valuation Exceeding $2 Trillion In Its Initial Public Offering.

Money and Business   Economy News - Follow-up   Bloomberg reported on Thursday, citing sources familiar with the matter, that Elon Musk's SpaceX has raised its target valuation for its initial public offering to more than $2 trillion, setting the stage for what could become the largest IPO ever.

The report stated that SpaceX and its advisors are presenting this figure to potential investors in its initial public offering.

Starbase, Texas-based SpaceX recently filed confidential filings for its initial public offering with the U.S. Securities and Exchange Commission and aims to launch its shares on the market later this year. SpaceX has not yet responded to Reuters' request for comment.

This request comes after SpaceX merged with Musk's AI startup XAI in a deal that valued the space rocket manufacturer at $1 trillion and the developer of the AI ​​chatbot, GROOC, at $250 billion.

Musk, the world's richest person, runs a huge business empire that includes electric cars at Tesla, space launch vehicles, satellite broadband internet, artificial intelligence, and social media.https://www.economy-news.net/content.php?id=67444

FAO: Global Food Prices Rise In March To Highest Level Since Last December

Money and Business   Economy News - Follow-up     The United Nations Food and Agriculture Organization (FAO) said on Friday that global food prices rose in March to their highest level since December, marking a second consecutive monthly increase.

The FAO Food Price Index, which tracks changes in a basket of globally traded food commodities, averaged 128.5 points in March, up 2.4% from its revised level in February.

In a separate report, the Food and Agriculture Organization (FAO) slightly raised its forecast for global cereal production in 2025 to a record high of 3.036 billion tons. This would be 5.8% higher year-on-year.https://www.economy-news.net/content.php?id=67451

Gold Prices Fall By More Than 3.5% After Trump's Speech

Money and Business   Economy News - Follow-up   Gold prices reversed course to fall more than 3.5% on Thursday, ending a four-day winning streak, after US President Donald Trump said the United States would continue its war with Iran in the coming weeks.

Spot gold fell 3.51% to $4,591.47 an ounce by 06:29 GMT, while U.S. gold futures dropped 3.97% to $4,622.10.

Prices rose by more than 1% to their highest level since March 19, before Trump's remarks, according to Reuters.

In a televised address to the nation, Trump said the United States would strike Iran "very hard" within the next two to three weeks and return it to the "Stone Age," adding that the United States' strategic objectives in the conflict were nearing completion.

Brent crude prices rose by more than 4%, while US 10-year Treasury yields and the dollar index rose, negatively impacting the dollar-denominated metal.

The precious metal fell 11% in March, its worst monthly loss since 2008, after the outbreak of the Iran war on February 28, which led to higher oil prices and increased inflationary pressures, casting a shadow of uncertainty over the Federal Reserve’s (the US central bank) monetary policy path.

As for other precious metals, silver fell 2.9% to $72.95 in spot trading, platinum dropped 1.8% to $1,928.26, and palladium declined 1.4% to $1,451.85.    https://www.economy-news.net/content.php?id=67419

The Minister of Finance has directed that the accounting and banking departments continue operating to complete the payment of employee salaries.

Money and Business   Economy News – Baghdad   Finance Minister Taif Sami directed on Wednesday that work continue in the accounting and banking departments to complete the payment of employee salaries for the month of March.

Sami told the Iraqi News Agency, as reported by "Economy News," "We have directed the continued operation of the accounting and banking departments to complete the payment of employee salaries for the month of March in the remaining spending units."   https://www.economy-news.net/content.php?id=67395

Oil Jumps 11% As Trump Escalates War With Iran

2026-04-03 Shafaq News   U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as traders worried about prolonged disruptions to oil supply the day after President Donald Trump said the United States would continue attacks on Iran.

Brent crude futures closed $7.87, or ‌7.78%, higher at $109.03 a barrel. U.S. West Texas Intermediate crude futures rose $11.42, or 11.41%, at $111.54 per barrel, settling at their biggest absolute price rise since 2020.

Both benchmarks remained below highs near $120 a barrel touched earlier in the conflict.

Trump said military operations would be intensified, but did not specify a timeline for ending hostilities. He gave no details on any steps that could lead to a reopening of the Strait of Hormuz

"We're going to hit them extremely hard over the next two to three weeks," Trump said. "We're going to bring them back to the Stone Ages, where they belong."

Iran is drafting a protocol with Oman to monitor traffic in the strait, an Iranian foreign ministry official ⁠said, after a Bloomberg report.

Iran has effectively shut down the narrow waterway through which a fifth of global oil and liquefied natural gas is shipped, in retaliation for U.S.-Israeli strikes that began on February 28. Reopening it has become a priority for governments around the world as energy prices soar.

"The real question on traders' minds is that if Iran's oil infrastructure is possibly now at risk, and with more damage in the area now very likely, even if left intact the restart of oil flows in the region (is) now looking to be delayed further," said Dennis Kissler, senior vice president of trading at BOK Financial.

WTI, which typically trades below Brent, was pricing nearly $3 over Brent as the U.S. contract was trading for May deliveries, while the Brent contract was trading for June deliveries. WTI's premium over the global benchmark was the highest in a year.

"Market's expectation is that if (the) Strait of Hormuz opens up in (a) couple of weeks this risk premium will immediately go down," said John Kilduff, Partner at Again Capital.

Federal Reserve Bank of Dallas President Lorie Logan said on Thursday that a swift ‌war resolution ⁠may mean economic impact could be pretty moderate, adding that the economic outlook was uncertain due to the crisis. The United States has some buffers to impacts from the war, Logan said.

Brent crude prices could average $95 a barrel in the base case and $130 a barrel in the bull case in the second half of the year, Citi said, while oil prices could climb to between $120 and $130 a barrel in the near-term, JP Morgan said. Prices could rise above $150 if the Strait remains closed into the middle of May, JP Morgan added.

U.S. oil rigs, an indicator of future output, rose by two ⁠to 411 this week, energy services firm Baker Hughes said. An increase in prices for oil to be delivered in future months has producers considering adding more rigs, but they have cautioned that they would like to see the higher prices hold for longer to do so.

Front-month WTI traded at its largest-ever premium over the second-month and seventh-month contract on Thursday.

TALKS ON REOPENING HORMUZ

Britain is hosting a virtual ⁠meeting of around 40 countries to discuss options for reopening the Strait of Hormuz. The United States is not due to attend.

OPEC+, meanwhile, is likely to weigh a further oil output increase on Sunday, sources said. This would position members to add more barrels should the Strait of Hormuz reopen but is not likely to meaningfully increase supply before then.

In Russia, Ukraine's strikes on ⁠port infrastructure, pipelines and refineries have reduced export capability by 1 million barrels per day, or a fifth of total capacity, sources say, enough to set the stage for imminent production cuts.

The head of the International Energy Agency also said that supply disruptions would start to affect Europe's economy in April, after the region had previously been shielded by cargoes contracted before the start of the war.(Reuters)  

https://www.shafaq.com/en/Economy/Oil-jumps-11-as-Trump-escalates-war-with-Iran

The Next Collapse Is Already Forming | George Gammon

The Next Collapse Is Already Forming | George Gammon

Lynette Zang:  4-3-2026

Lynette Zang is joined by George Gammon to discuss a “perfect storm” that looks eerily similar to 2008—but with even bigger risks beneath the surface.

Private credit, hidden leverage, and a fragile system could all collide at once.

When credit stops flowing, everything changes. This is what you need to understand before it happens—and why being prepared matters now more than ever.

Chapters:

0:00 Introduction to George Gammon & Mission

0:29 Stagflation Fears vs What Really Matters

1:40 Why the Labor Market Is the Key Signal

2:36 Lessons from 2008: Inflation → Deflation

4:12 Oil Shock = Hidden Tax on Consumers

5:02 Central Bank Mistakes & Rate Hikes Before Crashes

5:58 Private Credit = The New Subprime Crisis

7:23 Red Flags: Funds Halting Withdrawals

9:00 “Toxic Assets” Being Repriced to Zero

10:00 The Ponzi Scheme Phase Explained

13:16 Liquidity Crisis & Investor Lockouts

15:45 Why Money & Credit Flow Is Everything

18:12 What Actually Caused the 2008 Collapse

20:13 Why This Time Feels Similar (But Different)

21:31 Passive Investing & Retirement Flows Driving Markets

24:22 Unemployment Trigger That Could Crash Markets

25:24 AI Job Losses & Economic Impact

26:35 UBI, Inflation & Government Response

29:22 Deflation vs Credit Collapse

30:47 How Private Credit Was Created After 2008

33:11 Shadow Banking & Regulatory Loopholes

35:12 Can the System Be Fixed? (Gold vs Government)

38:28 Why Government Power Keeps Expanding

42:12 Social Movements, Money System & Control

49:09 Derivatives Risk & $7 Quadrillion Exposure

51:12 Why Crises Create Massive Dollar Demand

53:54 Currency vs Real Purchasing Power

56:21 Are We Heading Toward GFC 2.0?

58:06 How to Prepare & Find Opportunity

59:42 Final Advice: Protect Wealth & Stay Ready

1:00:42 Where to Follow George Gammon

https://www.youtube.com/watch?v=4L7IdIb1rGA

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p>Hello, World!

MilitiaMan and Crew: IRAQ DINAR UPDATE-Iraq Insulated & Ready for Integration

MilitiaMan and Crew: IRAQ DINAR UPDATE-Iraq Insulated & Ready for Integration

4-2-2026

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=Z7JuALhQ0cs

Seeds of Wisdom RV and Economics Updates Thursday Evening 4-2-26

Good Evening Dinar Recaps,

Oil Shock and Rising Yields Hit Global Markets: Financial System Faces Mounting Pressure

War-Driven Energy Spike and Debt Stress Collide in Today’s Markets

Overview

• Oil prices surged sharply above $110, driven by war escalation

• Global markets fell as uncertainty spreads

• U.S. Treasury yields and borrowing costs rising again

• Inflation fears intensifying across economies

Key Developments

1. Oil Prices Explode as Supply Fears Intensify
Global oil markets surged today as conflict escalation threatens supply routes:

• Oil jumped as much as 7–11% in a single move

• WTI crude surged above $111 per barrel

• Brent crude pushed near $109+ levels

The primary driver:

• Disruption risk in the Strait of Hormuz, a key global oil artery

Roughly 20% of global oil flows through this region—any disruption is massive

2. Global Markets Turn “Risk-Off”
Financial markets reacted quickly:

• Stocks declined across the U.S., Europe, and Asia

• South Korea markets dropped nearly 5%

• Investors moved toward safer assets like the U.S. dollar

This is classic “risk-off” behavior during systemic stress

3. Rising Yields Push Borrowing Costs Higher
Debt markets are now feeling the pressure:

• Treasury yields rising due to inflation fears

• Mortgage rates jumped to ~6.46%

• Borrowing costs increasing across the economy

War → Oil spike → Inflation → Higher yields → Economic pressure

4. Inflation Threat Returns Stronger Than Expected
The combination of oil and conflict is driving:

• Higher fuel prices globally

• Supply chain disruptions (fuel, fertilizers, shipping)

• Renewed inflation concerns for central banks

This raises the risk of stagflation (high inflation + slow growth)

5. Central Banks Trapped in a Tight Position
Global central banks are now facing:

• Limited ability to cut rates

• Need to contain inflation from energy shock

• Uncertainty around economic slowdown

Policy flexibility is shrinking at the worst possible time

Why It Matters

• Energy shocks ripple through every sector of the economy

• Rising yields increase stress on already high global debt levels

• Markets are reacting to systemic—not temporary—pressures

This is not a single event—it’s a chain reaction across systems

Why It Matters to Foreign Currency Holders

• Currency values are directly impacted by energy and debt dynamics

• Short-term dollar strength may occur due to safe-haven flows

• Long-term instability increases pressure on fiat systems globally

Currency shifts often begin during periods like this

Implications for the Global Reset

• Pillar 1: Energy Becomes the Driver of Financial Power

• Control of oil routes now directly impacts currencies and markets

• Energy = leverage in the global system

• Pillar 2: Debt System Under Increasing Strain

• Higher yields expose unsustainable debt levels

• Governments face rising costs to finance operations

This is where financial stress begins to accelerate systemic change

Closing Perspective

Today’s developments reveal a powerful convergence:

• Energy shock

• Rising debt costs

• Market instability

These are not isolated headlines—they are signals of a system under pressure.

When energy, debt, and markets move together, structural change often follows.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — Oil surges and global markets fall amid Iran war escalation

• Reuters — U.S. mortgage rates rise as Treasury yields climb on war-driven inflation fears

~~~~~~~~~~

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RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™Website

Thank you Dinar Recaps

Phone Service for 94,000 Dead People, and Other Things Congress Won't Cut

Phone Service for 94,000 Dead People, and Other Things Congress Won't Cut

Notes From the Field By James Hickman (Simon Black)  April 1, 2026

Earlier this year, the House DOGE Subcommittee pulled spending records from the Department of Transportation and discovered that the agency had spent $55 million on office furniture over the past few years.  That’s about $1,000 per employee, which might not sound so crazy, until you realize that this was during a period when only 9% of DOT employees were actually showing up to the office.

But the furniture budget of the Department of Justice was even worse— $408 million on furniture in four years, with an average attendance rate of just 35%.

DARPA (Defense Advanced Research Projects Agency) dropped $250,000 on a single "refresh" of Herman Miller chairs. My only hope is this was part of developing some new revolutionary bulletproof chair cushion.

All told, federal agencies have spent $4.6 billion on furniture since 2021 — much of it for offices that have sat empty while employees work from home on Zoom.

If this were an isolated case of waste, you might write it off as bad management at a couple of agencies.

But it is not.

In February, the Government Accountability Office calculated the final cost of the Employee Retention Credit— a COVID-era program that ended in 2021. Total payout: $283 billion.

But 83% of that money ($235 billion) was paid out YEARS after the pandemic ended; the fraud mills kept filing bogus claims, and the IRS just kept writing checks.

Also in February, the FCC's inspector general discovered that Lifeline phone providers in California had been billing the government to provide phone and internet service to 94,000 dead people— $3.8 million worth of calls that were never made, to phones that were never used, for people who were no longer alive.

The examples never stop.

Senator Joni Ernst recently uncovered Pentagon-funded research projects that included studies on octopus hypnosis, monkey mind-reading, snail mucus, and elephant seal sleeping habits, all funded through a contracting loophole called "Other Transaction Agreements".

These OTAs allow agencies to spend money without competitive bidding, standard oversight, or public disclosure of costs.

How much did each project cost? That's the beauty of the system — the government doesn't have to tell you. But the GAO found that $77.5 billion flowed through these agreements between 2021 and 2025 without proper public accounting.

The National Science Foundation spent $14.6 million teaching monkeys to play a video game inspired by ThePrice Is Right. USAID spent $20 million producing Sesame Street in Iraq and $69,000 on dance classes in Wuhan, China.

And every single year, the federal government makes hundreds of billions of dollars in improper payments— money sent to the wrong person, in the wrong amount, or for the wrong reason.

Last year's total: $186 billion. That includes payments to deceased individuals, ineligible recipients, and programs that can't even verify whether the money should have gone out at all.

Since 2003, the cumulative total has reached $2.8 trillion, i.e. a full 7% of the national debt that simply would not exist if the government was minimally competent.

The Pentagon, meanwhile, has failed its own audit for eight consecutive years. Auditors could not verify more than 60% of the department's $4.65 trillion in assets.

Congress's response? Hand the Pentagon its first-ever trillion-dollar budget. They cannot account for the money they already receive, so why not give them even more?!?

Then there's the end-of-year ritual. Under "use it or lose it" rules, agencies that don't exhaust their budgets risk getting less money next year.

So in the final five days of fiscal year 2025, the War Department spent $50.1 billion in grants and contracts, including $6.9 million on lobster tail, $2 million on Alaskan king crab, $15 million on ribeye steak, $225 million on furniture, including a $98,329 Steinway grand piano for a general’s home.

Makes sense. Perhaps a stirring rendition of “Great Balls of Fire” is just what we need to defeat Iran.

For context, only nine countries on Earth spend more $50 billion on their entire annual defense budget. The Pentagon spent that in five days.

None of this is secret. DOGE found it. Inspectors General found it. The GAO found it. Senators publish it in annual reports that make headlines for about a day.

And then nothing changes.  Congress doesn't cut a dime.

They act like it is simply impossible, that children would be starving in the streets, national security would be at risk, and farms would lay fallow, that we would all burst into flames if they cut the budget.

This might be one of the most effective lies ever perpetrated on a population— that we simply cannot, must not cut a dime in spending, for the consequences would be catastrophic.

The federal government spent $7 trillion in fiscal year 2025. $2 trillion of that was borrowed. $1.2 trillion was spent on interest to service the $39 trillion national debt.

And over the next decade, the CBO expects Congress to add another $23.1 trillion to the debt. It will almost certainly be much more.

This is arguably the single greatest threat to America. Not China, not hysteria over AI, not any of the foreign adversaries that dominate the headlines— but the slow, compounding, mathematically inevitable consequences of a government that cannot stop spending money it doesn't have.

And the most infuriating part is that it should be so easy to cut the most obvious, most indefensible waste. The $600 billion in outright fraud Secretary of Treasury Bessent estimates in the budget every single year. The $200+ billion in improper payments. The $100+ billion in legal graft that flows to political allies.

That alone would cut nearly half the deficit, without even touching the furniture for empty offices or octopus hypnosis experiments.

But if Congress is unwilling to even lift a finger for such obvious absurdity, what are the odds they'll tackle Social Security’s impending insolvency, just six years away? Or give foreign countries the confidence to keep investing in US government bonds? Or behave in a way to keep inflation in check?

Seems pretty low to us. Which is why it makes so much sense to have a Plan B. 

To your freedom,

James Hickman
Co-Founder, Schiff Sovereign LLC

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Some “Iraq News” Posted by Clare at KTFA 4-2-2026

KTFA:

Clare:  Economist: Iraq urgently needs to form a government and approve the 2026 budget to secure salaries.

 4/2/2026  Information/Baghdad...

Economic expert Nabil Al-Marsoumi emphasized on Thursday the need for Iraq to form a new government with full powers to address the country's economic situation, noting the necessity of preparing the 2026 budget to cover salaries and services.

Al-Marsoumi stated in a post on social media, which was monitored by the Information Agency, that “despite Iraq continuing to export oil through the Strait of Hormuz until March 8th, oil revenues did not exceed $1.9 billion, equivalent to approximately 2.5 trillion dinars. This means that Iraq needs to secure an additional 5 trillion dinars just to pay salaries for the fifth month.”

He stressed "the necessity of expediting the formation of a fully empowered Iraqi government and preparing the 2026 budget to provide the government with the legal basis for internal and external borrowing, discounting transfers at the Central Bank of Iraq, and taking other measures to meet the basic needs of the Iraqi people, especially those related to salaries, social welfare, and essential services such as water, electricity, and others."   LINK

Clare: Masour Barzani and the Prime Minister of Qatar call on Baghdad to impose its control over "outlaw groups".

4/2/2026  Kurdistan – One News

 On Thursday, April 2, 2026, the Prime Minister of the Kurdistan Region, Masrour Barzani, discussed in a telephone call with the Prime Minister and Minister of Foreign Affairs of Qatar, Sheikh Mohammed bin Abdulrahman Al Thani, the overall situation in the Kurdistan Region, Iraq and the region.

During the call, both sides expressed their condemnation of the terrorist attacks targeting the Kurdistan Region and Qatar, stressing their deep concern about the escalating war and tensions in the region, and emphasizing the importance of preserving the foundations of peace, security and stability.

Both sides agreed that militias and outlaw groups pose a real threat and danger, and stressed the need for the Iraqi government to impose its control over them.

For his part, the Qatari Prime Minister and Foreign Minister stressed the importance of maintaining peace and stability, noting the need to take these threats and risks into account.

In a related context, Prime Minister Masrour Barzani reiterated the Kurdistan Region’s solidarity with the Qatari people, and both sides agreed on the need to maintain communication and continue coordination to overcome current challenges and obstacles.  LINK

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

Clare: Baghdad responds to Washington's security warnings: These are isolated incidents, and we are not a party to the conflict.

4/2/2026

The Iraqi Ministry of Foreign Affairs responded on Thursday evening to the security warnings issued by the US Embassy, ​​stating that the violations that are occurring are individual attempts, and that Iraq is not a party to the conflict. 

The ministry said in a statement received by Shafaq News Agency that "we have followed the statement issued by the US Embassy regarding potential security concerns, and we affirm our clear and unwavering commitment to keeping Iraq out of the circle of conflict in the region. Iraq is not a party to this conflict and does not wish to be part of it, despite being one of the countries most affected by its security, economic and political repercussions."

The ministry continued: “Recognizing the seriousness of the situation, the Iraqi government affirms that some entities or individuals may attempt, contrary to the state’s directives, to take unilateral actions or exploit their positions or job titles to carry out actions that do not represent official policy.”

She pointed out that "such individual actions or actions by limited groups are illegal and do not in any way reflect the role of the Iraqi government or its institutions." 

She explained that “the occurrence of cases of abuse of power by individuals in various countries around the world does not justify issuing collective judgments or holding governments or any institution responsible for individual actions, as the government’s position on these actions is evident from its strict practical and public stances against these actions, and from its characterization of them, which calls for surprise at this position.”

She explained that "what further complicates the situation is that this conflict is taking place amid a clear decline in adherence to the legal and humanitarian standards that govern armed conflicts according to international law and international humanitarian law, making it an open war whose scope is expanding and whose repercussions are becoming more complex." 

She noted that "this has practically affected countries that are not party to it, including Iraq, which poses additional challenges to the Iraqi government in its efforts to contain the repercussions and prevent the conflict from spreading into Iraq."

She indicated that "the Iraqi government affirmed that, at this exceptional political, economic and military stage, and with the constraints imposed by the caretaker government, it is making every effort to prevent any escalation, strengthen security measures, protect diplomatic missions, foreign interests and citizens, and maintain internal stability. It also continues to take the necessary steps to ensure that Iraqi territory is not used as a launching pad for any hostile acts."

The US embassy in Baghdad had warned earlier on Thursday of the possibility of attacks by "Iranian-backed militias" in the center of the capital within 24 to 48 hours, urging US citizens to leave Iraq "immediately".

The embassy said in a security alert, published on its official social media account, that the Iraqi government “has not been able to prevent terrorist attacks” that occur within or originate from Iraqi territory, noting that some members of those groups may carry identification documents claiming they are employees of the Iraqi government.  LINK

Clare: An American institute: The Trump administration does not support the Sudanese president, and his continued rule will make him an adversary of Washington.

3/29/2026

The middle East Institute concluded that outgoing Iraqi Prime Minister Mohammed Shia al-Sudani is no longer the preferred candidate of the United States because he is "doubling down on his bets" on Iran and has not curbed the militias, at a time when the balance seems to be tipping in Washington's favor in its current battle.

After the American Institute spoke in a report translated by Shafaq News Agency, about the existence of two rounds of voting in Iraqi democracy, the first of which is when Iraqis vote for candidates in parliamentary elections, which does not produce a candidate or party that obtains a majority of votes.

The second involves numerous backroom deals after the final election results are announced, where those who received a fair number of votes try to gain the support of key stakeholders, including the leaders of major parties, and also try to gain the support of the United States and Iran.

The American report indicated that al-Sudani is strongly seeking to win a second term as he has much to boast about, as infrastructure has been developed since he took office and Iraq has been in a state of relative peace, although there have been many dark clouds during his term, including the “wiretapping scandal” that almost cost him his position.

He went on to say that it appeared that many other parties, including Iran, had concluded that it was better to have a "weak" prime minister than to have a new one while allegations of corruption were being raised, and many critics pointed to his brother Abbas Shia al-Sudani, who was believed to be acting as his unofficial agent.

The report noted that al-Sudani is trying hard to establish himself as a key and permanent power broker, as is the case with Nouri al-Maliki and Hadi al-Amiri, as his pictures appear in public places much more than they did during al-Maliki’s era. The report says that many Iraqis fear that al-Sudani’s second term could “whitewash” the mistakes of the first term and allow him to consolidate himself at the expense of democracy.

The report argued that, given the escalating war between the United States and Iran, it is not easy to be prime minister in Iraq. However, with the military balance tilting in favor of the United States, the respect that Iraqi politicians should show to Iran diminishes, but al-Sudani did not grasp the message.

The report went on to explain that Sudan is doubling down on its bets on Iran, even though any Iraqi leader who puts his country first should stay away from the conflict, recalling the March 24 decision which declared that Iranian-backed militias have the right to respond to any attacks targeting them, noting that the decision comes at a time when Kataib Hezbollah is launching drones and missiles at American targets inside Iraq.

He pointed out that the Sudanese may be "afraid" of Iran, and that his position may encourage further Iranian violations of Iraqi sovereignty and endanger Americans.

He added that US President Donald Trump, envoy Steve Wittkopf, and Secretary of State Marco Rubio should make it clear that al-Sudani will not receive US support for a second term, and that Washington will consider him an adversary if he does not step down.

The report concluded by saying that, given the possibility of Sudani’s departure and the escalating crisis in the Middle East, Iraq would need a prime minister to guide his country through the turmoil without dragging it into conflict, whereas Sudani could no longer do so.

The report noted the presence of technocratic figures waiting on the sidelines, as well as senior figures from previous Iraqi administrations whose credentials are not based on empty promises but on action.

The report concluded that Washington now realizes that al-Sudani is no longer necessary, and has a preferred candidate to succeed him.   LINK

Seeds of Wisdom RV and Economics Updates Thursday Afternoon 4-2-26

Good Afternoon Dinar Recaps,

GENIUS Act Framework Emerges: U.S. Moves Toward Dual Stablecoin System

Federal–State Structure Signals Major Shift in Digital Currency Regulation

Overview

• U.S. Treasury released its first proposed rule to implement the GENIUS Act

• Creates a dual regulatory system for stablecoins (state + federal)

• $10 billion threshold determines oversight level

• Strict reserve, AML, and compliance standards introduced

• Signals deeper integration of digital assets into U.S. financial system

Key Developments

1. Treasury Introduces Dual-Regulatory Framework
The U.S. Treasury Department issued a Notice of Proposed Rulemaking (NPRM) outlining how stablecoins will be regulated under the GENIUS Act (2025).

• State-level oversight allowed for issuers under $10 billion

• Federal oversight (OCC) required above that threshold

• Extends the traditional U.S. dual banking system into crypto

This is a major structural shift—stablecoins are now being treated more like banks than tech products

2. Strict Federal Standards Set the Baseline
The proposal defines non-negotiable federal requirements that all issuers must meet:

• 1:1 reserve backing (cash or U.S. Treasuries only)

• Full compliance with AML, BSA, and sanctions laws

• Ban on rehypothecation (no re-use of reserves)

• No interest/yield paid directly to holders

Bottom line: Stablecoins must behave like fully-backed digital dollars

3. States Retain Power — But Not Freedom to Weaken Rules
States can still regulate stablecoins—but only if their frameworks are:

• “Substantially similar” to federal standards

• Equal or stricter in areas like capital, liquidity, and risk

Examples:

• New York (BitLicense) – long-standing strict framework

• Wyoming (SPDI + FRNT stablecoin) – innovation-focused model

States can innovate—but cannot undercut federal safeguards

4. Agencies Align Toward July 2026 Deadline
Multiple regulators are coordinating:

• OCC – primary federal overseer

• FDIC & NCUA – rules for banks and credit unions

• Final rules due by July 18, 2026

This signals a synchronized national rollout of stablecoin regulation

5. Major Players Position for Bank-Like Status
Companies like Ripple (RLUSD) and Circle (USDC) are:

• Seeking national trust bank charters

• Preparing for federal-level integration into the banking system

This is the bridge between crypto and traditional finance

Why It Matters

• Stablecoins are being formalized as part of the U.S. financial system

• Regulatory clarity reduces uncertainty for institutions and investors

• Creates a scalable path for digital dollar adoption globally

• Strengthens trust in U.S.-issued digital assets

This is not suppression of crypto—it’s controlled integration

Why It Matters to Foreign Currency Holders

Digital dollars (stablecoins) may become the dominant global settlement tool

• Backed by U.S. Treasuries—directly linking crypto to sovereign debt markets

• Could reinforce U.S. influence even as de-dollarization rises elsewhere

Important shift: The dollar is evolving, not disappearing

Implications for the Global Reset

• Pillar 1: Digital Financial Infrastructure

• Stablecoins become regulated, trusted digital cash equivalents

• Foundation for cross-border settlement systems

• Pillar 2: Sovereign Control Meets Innovation

• Governments maintain control over money flows

• While allowing private-sector innovation to scale

This is a hybrid system—centralized oversight with decentralized rails

Closing Perspective

The GENIUS Act framework confirms what many suspected:
The U.S. is not stepping away from digital assets—it is absorbing them into the core of its financial system.

This is not just regulation — it’s the blueprint for the next monetary era.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Forbes — GENIUS and Treasury Preserve Dual Banking System for Stablecoins

• U.S. Treasury (via Federal Register process summary and NPRM details)

~~~~~~~~~~

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Iraq Economic News And Points To Ponder Thursday Afternoon 4-2-26

Iraq Hardest Hit By Hormuz Strait Disruptions

2026-04-02 Shafaq News- Baghdad   Iraq recorded the sharpest increase in borrowing costs among regional countries due to disruptions in the Strait of Hormuz, with yields rising by 0.64 percentage points to 7.1%, according to the United Nations Conference on Trade and Development (UNCTAD).

Data showed varying increases across the region, with Bahrain rising by 0.41 percentage points to 7%, Saudi Arabia and Oman each up by 0.26 points, and Jordan by 0.24 points. The UAE, Qatar, and Kuwait saw smaller increases ranging between 0.27 and 0.28 points, while Kuwait remained the lowest overall at 4.4%.

The organization noted that rising borrowing costs have added economic pressure amid escalating tensions in the Strait of Hormuz, where disruptions to energy and fertilizer flows have led to a near halt in shipping since late February 2026. Transport and maritime insurance costs have surged by more than 90%, driving sharp increases in oil, gas, and fertilizer prices and directly impacting food production and prices in Iraq and other import-dependent countries.

UN Trade and Development

The Strait of Hormuz carries about one-third of global seaborne fertilizer. With trade highly concentrated, disruption risks grow. Many countries rely on Gulf-region supplies for staple crops, including #LDCs like Sudan, Tanzania & Somalia. Read more: https://ow.ly/q9ZI50YBhby

https://www.shafaq.com/en/Economy/Iraq-hardest-hit-by-Hormuz-strait-disruptions

Iraqi Analyst Warns Of March Oil Revenue Shortfall Amid Oil Field Closures

2026-04-02 Shafaq News- Baghdad  Seven major oil fields in Basra remain closed as of the end of March 2026, while four producing fields generated a combined daily output of 659,000 barrels per day through three state oil companies, according to Nabil Al-Marsoumi, a political analyst and professor at Al-Maqal University in Basra.

Al-Marsoumi reported that despite Iraq continuing oil exports through the Strait of Hormuz until March 8, March oil revenues did not exceed 1.9 billion dollars, equivalent to approximately 2.5 trillion Iraqi dinars. He warned that Iraq requires an additional 5 trillion dinars to cover salaries for May alone.

The analyst called for the urgent formation of a full-authority Iraqi government and preparation of a 2026 budget to provide legal cover for domestic and foreign borrowing, discounting transfers at the Central Bank of Iraq, and other measures to meet basic needs, including salaries, social welfare, water, and electricity services.

The State Organization for Marketing of Oil (SOMO) did not officially release figures for March. However, February data showed that total crude oil exports reached approximately 99.9 million barrels, generating revenues exceeding $6.8 billion. Exports from central and southern Iraqi fields totaled 93.3 million barrels, while the Kurdistan Region exported 5.6 million barrels via the Turkish port of Ceyhan. The Qayyarah field contributed 971,130 barrels.

https://www.shafaq.com/en/Economy/Iraqi-analyst-warns-of-March-oil-revenue-shortfall-amid-oil-field-closures

Read more: Iraq's energy vulnerability: When a petro-state hasno buffer

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

Strait Of Hormuz Closure Stifles Iraqi E-Commerce

2026-04  Shafaq News   The closure of the Strait of Hormuz has slowed e-commerce across Iraq, prolonging delivery times, raising costs, and forcing a growing number of customers to cancel online orders.

Shadha Abdul Karim, who operates an online store through social media, described mounting shipping setbacks affecting orders routed via the Strait, leading to widespread cancellations.

“Customers are entitled to cancel and receive full refunds if orders are not delivered on time,” she informed Shafaq News, adding that higher shipping costs under current conditions are likely to erode profits, while noting that she had kept prices low to attract buyers.

“I regret that not all customers received their orders on time, but this was beyond my control. I contacted affected clients to explain the hold-ups caused by the exceptional situation,” she explained.

Similar concerns are being reported by other sellers. Hala Hamid, another online retailer, pointed to the broader impact on supply chains, particularly imports from global platforms such as China’s Shein.

“The closure has led to noticeable delays in shipments due to disruptions in some sea and air routes, as well as higher transport costs, which in turn affected delivery schedules,” she noted.

Economists indicate that the fallout extends beyond logistics. The Strait of Hormuz, a key passage for global energy flows, plays a central role in shaping shipping costs, inflation, and trade patterns worldwide.

Economic expert Mustafa Al-Faraj noted that e-commerce depends heavily on speed and affordability, making it particularly sensitive to disruptions in major shipping routes.

“Higher oil prices immediately increase shipping and transport costs, whether by sea or air, which raises the prices of goods sold online and reduces consumers’ purchasing power,” he relayed to Shafaq News, adding that disruptions in supply chains from Asia, especially China and India, are likely to slow delivery times, weakening a key advantage of online shopping.

Al-Faraj also pointed out that major e-commerce companies may scale back promotions or transfer higher costs to consumers, with emerging markets like Iraq feeling the effects more sharply due to heavy reliance on imports.

In parallel, economic expert Ali Dadoush pointed to a wider chain reaction tied to currency stability and financial flows. “Any disruption in maritime traffic through the strait will increase shipping costs and prolong delivery timelines, which directly affects online markets through higher prices, reduced product variety, and longer delivery times,” he explained to Shafaq News.

He added that declining oil revenues could pressure exchange rates and limit dollar liquidity, increasing import costs and weakening purchasing power. Stricter controls on foreign transfers could also disrupt digital payments, potentially reducing online transactions and pushing some consumers back toward cash.

“The overall impact points to stagflation, with a contraction in e-commerce volumes alongside rising prices and declining consumer confidence,” he concluded, noting that while limited opportunities may emerge for local e-commerce growth, they are unlikely to offset short-term pressures without broader policy support.

Written and edited by Shafaq News staff.

https://www.shafaq.com/en/Report/Strait-of-Hormuz-closure-stifles-Iraqi-e-commerce

Read more: Hormuz lockdown: Iraq’s economic lifeline under threat

Read more: Iraq's energy vulnerability: When a petro-state has no buffer

Dollar Slips In Baghdad And Erbil Markets

2026-04-02 Shafaq News- Baghdad/ Erbil   The US dollar opened Thursday’s trading lower in Iraq, hovering around 154,000 dinars per 100 dollars, according to a survey by Shafaq News Agency.

The dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,400 dinars per 100 dollars, down from 154,750 dinars recorded on Wednesday.

In the Iraqi capital, exchange shops sold the dollar at 155,000 dinars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,300 dinars and buying prices at 154,150 dinars.

https://www.shafaq.com/en/Economy/Dollar-slips-in-Baghdad-and-Erbil-markets

Dollar Rises In Baghdad And Erbil Markets

2026-04-02 Shafaq News- Baghdad/ Erbil   The US dollar closed Thursday’s trading higher in Iraq, hovering around 154,000 dinars per 100 dollars

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,500 dinars per 100 dollars, up from the morning session’s 154,400 dinars.

In the Iraqi capital, exchange shops sold the dollar at 155,000 dinars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,750 dinars and buying prices at 154,600 dinars.

https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-and-Erbil-markets-4-0

Gold Prices Fall In Baghdad And Erbil

2026-04-02   Shafaq News- Baghdad/ Erbil  On Thursday, gold prices hovered around 1 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1,005,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1,001,000 IQD. The same gold had sold for 1,026,000 IQD on Wednesday.

The selling price for 21-carat Iraqi gold stood at 975,000 IQD, while the buying price reached 971,000 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 1,063,000 IQD per mithqal, 21-carat gold at 1,014,000 IQD, and 18-carat gold at 869,000 IQD.   https://www.shafaq.com/en/Economy/Gold-prices-fall-in-Baghdad-and-Erbil-9

Is Iraq Testing the IQD for Programmable Money?

Is Iraq Testing the IQD for Programmable Money?

Edu Matrix:  4-2-2026

The concept of programmable money has been gaining traction globally, with countries like China and Iraq exploring its potential to revolutionize the way financial transactions are conducted.

Programmable money refers to a digital currency system embedded with rules that can restrict or enable transactions based on certain conditions, such as credit scores or governmental approval.

However, the Central Bank of Iraq’s (CBI) ongoing experiment with programmable money is facing significant resistance from the Iraqi population, raising concerns about the feasibility of this concept.

In a recent Edu Matrix YouTube video, Sandy Ingram discussed the CBI’s efforts to introduce a new digital currency system and the challenges it faces.

The Iraqi people’s reluctance to adopt this new system is rooted in their mistrust of the government’s intentions and concerns about the potential loss of financial autonomy. As a result, citizens are refusing to deposit their money into banks or engage with the new digital currency system, posing a significant challenge to the CBI’s plans.

The CBI’s ability to implement programmable money depends on gaining control over the country’s currency circulation. However, with the majority of Iraqis opting out of the formal banking system, the CBI is facing a significant hurdle.

If people continue to reject the new digital currency, the government might resort to forcing a currency exchange, requiring citizens to swap old banknotes for new digital ones to participate in everyday economic activities like buying food.

This situation is critical to monitor, as it could have broader implications for the adoption of programmable money and digital currencies worldwide. The Iraqi case highlights the importance of public trust and acceptance in the successful implementation of digital currency systems.

As governments and central banks around the world explore the potential of programmable money, they must consider the potential risks and challenges associated with its adoption.

The parallels between Iraq’s experience and China’s digital currency initiatives are striking. China’s digital currency system has been criticized for its potential to control individuals’ financial activities based on behavior or status. Similarly, the CBI’s programmable money system raises concerns about the potential for governmental control over citizens’ financial lives.

As the world watches the unfolding situation in Iraq, it is clear that the success or failure of the CBI’s experiment will have far-reaching consequences. If the Iraqi people continue to resist the new digital currency system, it may signal a broader rejection of programmable money and digital currencies globally.

In conclusion, the Iraqi experiment with programmable money serves as a cautionary tale for governments and central banks around the world.

As we move towards a more digitalized financial system, it is essential to prioritize public trust, transparency, and acceptance. The success of digital currency adoption depends on it. For further insights and information, watch the full video from Edu Matrix, where Sandy Ingram provides a more in-depth analysis of the situation.

https://www.youtube.com/watch?v=sNW0U9o9vgk