News, Rumors and Opinions Friday 1-9-2026
KTFA:
Clare: A Sudanese advisor explains to "Al-Eqtisad News" the repercussions of fixing the exchange rate at 1300 dinars in the 2026 budget.
1/8/2025 Economy News – Baghdad
The Prime Minister’s Advisor for Economic and Financial Affairs, Mazhar Muhammad Salih, revealed on Thursday the impact of the Central Bank of Iraq’s decision to fix the official exchange rate at 1300 dinars in the 2026 budget.
Saleh told Al-Eqtisad News that "the government decided to fix the official exchange rate at 1,300 dinars per US dollar in the 2026 budget project, within the framework of what he described as 'calculated coordination between fiscal and monetary policies'."
He explained that this step represents a limited increase in the value of the Iraqi dinar, and is a positive sign that reflects the strength of the country’s foreign reserves and the ability of monetary policy to confidently maintain stability.
He pointed out that fiscal policy is now moving towards maximizing real revenues, moving away from resorting to what is known as "monetary adjustment," which relies on using the exchange rate as an indirect financing tool, stressing that this trend promotes the use of authentic financial instruments to mobilize resources and control spending.
The advisor stressed that this monetary signal sends a clear message that containing inflation and stabilizing the national economy is a permanent priority, while maintaining the independence of monetary policy, and pushing fiscal policy towards greater efficiency and responsibility, in order to achieve the sustainability of macroeconomic balance in the Iraqi economy.
Earlier today, the Central Bank of Iraq addressed the Ministry of Finance regarding fixing the official exchange rate at 1300 dinars in the 2026 budget. LINK
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Clare: They warned of a "major recession"... Baghdad merchants complain about high taxes and customs duties: the citizen is the one who suffers
1/8/2025
Wholesalers and owners of goods and merchandise warehouses in the capital, Baghdad, expressed their strong dissatisfaction with the government’s recent decisions regarding increasing taxes and implementing the new customs tariff, in addition to imposing a quality mark on all imported goods.
Traders confirmed that these simultaneous measures caused clear disruption in buying and selling, warning that continued tax pressure would lead to a major recession in local markets, as a result of the sudden increase in import and storage costs, and the difficulty for the market to absorb these price increases.
Salem Hassan, a construction materials trader, told Shafaq News Agency that "customs duties have increased significantly to more than 30%, which is equivalent to one-third of the price of some materials," noting that the average citizen is no longer able to purchase his basic needs.
He added that "this increase has caused a recession in the markets, while wholesale stores have raised prices for traders," calling on the state to find urgent solutions to this problem.
For his part, a wholesaler of single-use plastic materials in the Jameela Industrial Area pointed out that raising customs duties prompted them to stop import operations, noting that these materials are used daily in packaging food products.
The traders explained to Shafaq News Agency that "the state must find quick solutions, because the citizen will be the victim as he is the last consumer," indicating that the imposed customs duties are excessive.
For his part, economist Mohammed Al-Hassani told Shafaq News Agency that imposing customs duties on goods and commodities would lead to higher inflation rates and an economic recession.
He explained that the government imposed these fees at a time when Iraq does not have an industrial sector capable of meeting market needs, and that the available local production is insufficient, warning that this will contribute to increasing unemployment rates among young people. LINK
Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff To join the World Trade you have to have more than one revenue stream. Historically Iraq's pretty much always had about one revenue stream which was oil...They're talking about increasing taxes. They have tax reform coming forward but would still have to be amended and approved after the rate changes of course because taxes involve tariffs working with foreign currencies...This gives them eligibility towards joining the World Trade...They're closer than they've ever been towards joining the World Trade. The rate has to change first...to position them in the World Trade.
Walkingstick Prime Minister Sudani can fire the governor of the CBI, Alaq in a nanosecond and replace him. IMO if Alaq does not do what he is supposed to do in these series of meetings coming up he will lose his position...Alaq can be removed very quickly...Sudani can fire Alaq if he feels he is not doing his job. It's really winding down to these series of meetings that parliament is going to be having...
Frank26 Monetary reform is ready to go. The only thing missing is the spark that will give it life and that would be the new exchange rate. That will come from the Central Bank of Iraq...Who the hell runs the CBI? The board of directors. You think the board of directors want the monetary reform? Oh, yes! They're not politicians...We're going to get the new exchange rate because if you [Alaq] don't give it up, you're gone sir.
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$120 Silver, $6000 Gold In 2026 | Craig Hemke
Liberty and Finance: 1-8-2026
Craig Hemke explains that the current gold and silver bull market is fundamentally different from past cycles because it is being driven by physical shortages rather than speculative paper trading.
He highlights persistent multi year supply deficits backwardation in silver and growing stress in the fractional reserve pricing system.
Government actions such as declaring silver a critical mineral export controls and rising geopolitical tensions are tightening supply and increasing volatility.
Hemke downplays fears of index rebalancing selloffs and argues that physical demand will prevent deep long term price declines.
Based on repeating breakout and consolidation patterns and these structural forces he forecasts roughly $6,000 gold and $120 silver by the end of 2026.
INTERVIEW TIMELINE:
0:00 Intro
1:22 Silver market update
17:35 Geopolitics & metals
23:51 2026 gold & silver targets