Explainer-The Libor Era Nears Its End
Explainer-The Libor Era Nears Its End
John McCrank and Karen Brettell Tue, December 28, 2021
By John McCrank and Karen Brettell
NEW YORK (Reuters) - Libor, or the London Interbank Offered Rate, will no longer be used for new derivatives and loans as of Jan. 1. The benchmark and reference rate, which had $265 trillion linked to it globally at the start of 2021, is being scrapped in the biggest shake-up to markets since the introduction of the euro in 1999.
WHAT IS LIBOR AND WHY IS IT BEING REPLACED?
Libor, once dubbed the world's most important number, is a rate based on quotes from banks on how much it would cost to borrow short-term funds from one another.
Although it dates to 1969, it was formalized in 1986 and has been used as a reference rate for a vast array of financial products, including student loans, credit cards, corporate loans and mortgages.
Libor was discredited after the 2008 financial crisis when authorities found traders had manipulated it, prompting calls to reform and eventually replace the tarnished rate. Several global banks were fined.
WHAT IS REPLACING LIBOR?
Regulators have said no new business can be done after Dec. 31 using Libor, which has 35 permutations across five currencies, the U.S. dollar, the British pound, the euro, Swiss franc and Japanese yen. Some Libor tenors - the length of time remaining before a contract expires - linked to the U.S. dollar, however, will continue until the end of June 2023 to allow most "legacy" or outstanding contracts to mature.
Libor is being replaced by alternative rates, with a preference toward those recommended by central banks that are based on actual transactions, making them harder to rig. [L1N2TC0XL]
WHAT ARE THE RISKS GOING FORWARD?
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Should Paper Checks Be Abolished Like The Penny?
Good Partner Tue, September 8, 2026 Jay L. Zagorsky
While Americans are writing fewer checks, they haven't abandoned this means of payment.
Germany is getting rid of paper checks at the end of 2027. Australia is bidding them farewell by 2030. U.S. President Donald Trump followed up his order killing off the penny with an executive order stopping check writing by the federal government.
Should the U.S. follow these other countries and broadly eliminate the ability to write checks?
BRICS Not Opposed To the US Dollar, Confirms Diplomat
Vinod Dsouza September 30, 2026 BRICSBusiness
Russian Ambassador to India Denis Alipov confirmed at the NDTV Defense Summit that the BRICS alliance is not opposed to the US dollar. He stressed that no member nation has spoken in an anti-Western tone at the September summit in India. Member countries have also not promoted any form of anti-Western agenda to push policies, he said.
Rob Cunningham: Forget Crypto, Watch What is Happening to Money
10-8-2026
Forget Crypto. Watch What Is Happening To Money Itself.
Our Money Is About To Work Differently – Forever.
And Almost Nobody Understands What – or Why – It’s Happening.
Historic Gold Rush Reprices Global Debt
Kinesis Money: 10-8-2026
In this week's Live from the Vault, Andrew Maguire details how central banks swapping dollars for physical gold at an unrivalled pace are quietly forcing a repricing of global debt — and why this gold rush marks something far bigger than a market rally.
As the Fed remains the last major institution still sitting on gold valued at a fraction of its true market price, Andrew outlines why he sees this gold rush not as a rally, but as the opening chapter of a fundamental restructuring of the monetary order
Parliamentary Finance: The Government Received Debts Of About 210 Trillion Dinars
Money and business Economy News _ Baghdad A member of the Parliamentary Finance Committee, Yousef al-Kalabi, on Thursday, that the Iraqi government has received a difficult financial situation in light of the accumulation of debt and the decline in oil revenues.
Good Afternoon Dinar Recaps,
INDIA RESET WATCH: $30 BILLION IN FOREIGN OUTFLOWS PUTS NEW PRESSURE ON THE RUPEE
India's rate hike has failed to stop the flow of foreign capital, while rising oil prices and inflation are adding to pressure on the rupee and financial markets.
Coffee with MarkZ, joined by Dr. Scott Young. 10/08/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: The move to 1500 still has people scratching their heads, middle east politics, Europe and then Dr. Scott joins us to take your questions.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Ariel: Four Signals Flying Under the Radar
10-8-2026
The Waiting Room: Signals Flying Under the Radar
Four Signals Flying Under the Radar — Plus the Ground Truth on the Dinar Chatter
THE FOUR UNDER-RADAR ITEMS FIRST
TNT:
Tishwash: Al-Masoudi: Al-Zaidi gave the green light to American companies to take control of energy projects.
Former Member of Parliament Riyadh al-Masoudi asserted on Thursday that Prime Minister Ali Faleh al-Zaidi has given American companies the green light to completely control energy projects in Iraq, without any restrictions or conditions.
Al- Masoudi told the Information Agency, "Prime Minister Ali Faleh al-Zaidi is merely a listener and executor of Trump and his administration's directives. He is the weakest link in implementing Washington's policies, even though they are not in the interest of the Iraqi people. Moreover, al-Zaidi has given American companies the green light to completely control energy projects and other vital projects without any restrictions or conditions."
Emailed to Recaps~ Thank you David
Reset Intelligence: The Day the IQD Shut Baghdad's Markets
By Reset Intelligence | @EXIT_FIAT
The first trading day of Iraq's new dinar rate ended with two of Baghdad's main wholesale markets locked.
The dollar on the street went up, not down. Baghdad closed Wednesday at 167,000 IQD for $100, against just above 163,000 before the decision.
The Sudanese Coalition Accuses Politicians Of Hypocrisy: They Publicly Criticize The Rise Of The Dollar While Secretly Smuggling It
Baghdad - One News Khaled Walid, a member of the Reconstruction and Development Coalition, attacked politicians whom he accused of having double standards regarding the dollar exchange rate, noting that they publicly express their objection to its rise in front of the media, while, according to his accusations, they are smuggling US currency away from public view.
Good Morning Dinar Recaps,
GLOBAL AI DEBT RESET WATCH: TECH GIANTS FLOOD BOND MARKETS WITH BILLIONS IN NEW AI BORROWING
The race to build artificial intelligence infrastructure is creating a new wave of corporate borrowing that is beginning to compete directly with governments for global investment capital.
Why Did Treasury Just Hire the Architect of the Gold-Backed Bond?
by Phoenix Capital Research Tuesday, Oct 06, 2026 - 8:20
In late September, Treasury Secretary Scott Bessent brought Judy Shelton into his office as Counselor to the Secretary. Most of the coverage treated it as a personnel note about a longtime gold advocate. I think the more useful question is a simple one: why would Treasury want her, and why now? Start with the problem Bessent is trying to solve.
Treasury has to sell trillions of dollars in long-term debt to finance a national debt that has passed $40 trillion.
The Final Move Before The Dinar Revalues?
The Dinar Den: 10-7-2026
The global financial community and foreign currency enthusiasts were recently taken by surprise by an unexpected policy shift from the Central Bank of Iraq (CBI).
In a move that blindsided many analysts who had been tracking Iraq’s economic reforms, the central monetary authority officially adjusted the exchange rate of the Iraqi dinar against the United States dollar.
KTFA
Wednesday Night Video
FRANK26…10-7-26….STRATEGIC STEP
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#
Iraq’s Dollar Rate Increase Draws Lawmaker Backlash
2026-10-07 Shafaq News- Baghdad Iraq’s Finance Ministry said on Wednesday that it had adopted a base exchange rate of 1,500 Iraqi dinars per US dollar and suspended advance customs payments, prompting lawmakers to seek an emergency parliamentary session to reverse the currency decision.
What Makes The Federal Reserve Decide To Raise Or Lower Interest Rates?
Sep 28, 2026 Economic outlook Hilarey Gould Editorial staff, J.P. Morgan Wealth Management
As the United States’ central bank, the Federal Reserve (Fed) exists to promote the overall strength, stability and well-being of the U.S. economy.
As part of its monetary policy function, the Fed adjusts the federal funds rate to help meet its so-called dual mandate: controlling inflation and supporting maximum employment.
THE XRP STORY IS BECOMING MUCH BIGGER
“Ladies & Gentlemen, Start Your Engines!”
See what is converging?
Not rumor.
Not one announcement.
Architecture.
China’s New Gold System Takes Aim at the Dollar
Taylor Kenny: 10-7-2026
China is buying gold, reducing its reliance on U.S. debt, and expanding systems that could bypass the dollar. If this trend continues, the impact on inflation, retirement savings, and purchasing power could be enormous.
In a recent analysis by ITM Trading, financial experts explore how China’s persistent gold accumulation, massive infrastructure investments, and deliberate moves away from the U.S. dollar point toward preparation for a brand-new global monetary order.
CBI Tells Lawmakers New Dollar Rate Is Final
2026-10-08 Shafaq News- Baghdad Central Bank of Iraq (CBI) governor Nizar Hussein has informed parliament's Finance Committee that the new official exchange rate of 1,500 dinars to the dollar is fixed and cannot be changed, a parliamentary source told Shafaq News on Thursday. Hussein told committee members that changing the rate in the budget law would mean redrawing every table and line item in the draft, which was built on 1,500 dinars to the dollar, the source said.