Iraq Economic News and Points To Ponder Late Sunday Evening 7-6-25

The Ministry Of Commerce Announces Plans To Balance The Market And Meet Consumer Needs.

Economy | 06/07/2025  Mawazine News - Baghdad -  The Ministry of Trade revealed, on Sunday, its plan to regulate import policy and protect local products. It also confirmed the development of plans to balance the market and meet consumer needs, including adjusting customs duties for a category of imported goods.

Ministry of Trade spokesman Mohammed Hanoun told the official agency, followed by Mawazine News, that "the Ministry of Trade seeks to regulate import policy through a set of plans and procedures aimed at protecting local products while achieving market balance and meeting consumer needs."

He added, "The plans include updating the list of prohibited and restricted goods for import. The ministry periodically reviews and updates the lists of prohibited or restricted goods, in coordination with the relevant sectoral authorities, in line with national production capacities and to prevent the market from being flooded with competing imported goods.

He pointed out that "the ministry has given priority to local products in government procurement, and the ministry adopts a policy of preferring local products in government supply contracts, including ministries and official bodies, in support of national industries."

He explained that "the plans include the effective implementation of the import license system, as import licenses are granted according to well-studied plans based on the needs of the local market and the production capacity of Iraqi factories to prevent random imports that harm national production."

They also include measures to strengthen control over border crossings in cooperation with the General Authority of Customs and security authorities. Control over border crossings is being tightened to prevent the entry of unauthorized or poor-quality goods that harm fair competition."

He continued, "The ministry is adopting a partnership approach with the Federations of Chambers of Commerce and Industry and relevant federations to ensure that import decisions support the aspirations of the Iraqi private sector.

To implement customs tariffs in accordance with protection requirements, the Ministry of Trade is coordinating with the Ministry of Finance to propose amendments to customs duties for imported goods that have a local alternative, thus enhancing the competitiveness of the national product."

He concluded by saying, "The plans include a deliberate openness to international markets while protecting the local market, as the ministry is working to enhance Iraq's trade openness with countries around the world through well-considered trade agreements that guarantee national interests." https://www.mawazin.net/Details.aspx?jimare=263543

Iraq Raises Oil Production To 4.17 Million Barrels Per Day As Part Of A New OPEC+ Increase.

Economist Nabil Al-Marsoumi announced that Iraq's share of oil production will increase by 48,000 barrels per day in August, reaching 4.17 million barrels, up from 4.122 million barrels in July.

Al-Marsoumi explained in a press statement on Sunday that this increase comes as part of the OPEC+ alliance's decision to raise its total oil production by 548,000 barrels per day, the largest increase in several months, in an attempt to balance global markets.

He indicated that this step could put pressure on prices, especially in light of the continued fluctuations in global demand, in addition to parallel increases in production from countries outside the alliance.

https://www.radionawa.com/all-detail.aspx?jimare=42189

The US Increases Its Oil Imports From Iraq To 212,000 Barrels Per Day.
Economy | 06/07/2025  Mawazine News - Follow-up  The US Energy Information Administration announced, on Sunday, that America increased its oil imports from Iraq during the past week.

The administration said in its statistics, “The average US imports of crude oil during the past week from 10 major countries reached an average of 6.188 million barrels per day, an increase of 952 thousand barrels per day compared to the previous week, which averaged 5.236 million barrels per day.”

It added that “Iraq’s oil exports to America reached an average of 212 thousand barrels per day, an increase of 29 thousand barrels per day compared to the previous week, which averaged 183 thousand barrels per day.”

The administration also indicated that “the largest oil revenues to America during the past week came from Canada, at an average of 4.228 million barrels per day, followed by Nigeria at an average of 419 thousand barrels per day, followed by Saudi Arabia at an average of 351 thousand barrels, Mexico at an average of 342 thousand barrels per day, and Brazil at an average of 191 thousand barrels per day.”

According to the table, “US crude oil imports from Colombia averaged 175,000 barrels per day, from Ecuador 126,000 barrels per day, from Libya 80,000 barrels, and from Venezuela 64,000 barrels per day.”   https://www.mawazin.net/Details.aspx?jimare=263519

The Dollar Price Rises Again In Baghdad.

economy | 06/07/2025  Mawazine News - Baghdad -  The dollar rose against the dinar on Sunday, with the Baghdad Stock Exchange closed for the Muharram holiday.

The dollar rose against the dinar, with the selling price reaching 141,500 Iraqi dinars per $100, and the buying price reaching 141,000 dinars per $100. https://www.mawazin.net/Details.aspx?jimare=263524

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com

Seeds of Wisdom RV and Economic Updates Monday Morning 7-7-25

Good Morning Dinar Recaps,

Bank Insider Admits to Nine-Year Scheme Involving Falsified Loan Applications, Faces Up to 30 Years

In a major federal case exposing long-term financial misconduct, a former senior loan officer at Tempo Bank and a construction company owner have both pleaded guilty to a nearly decade-long conspiracy to commit bank fraud. The U.S. Attorney’s Office for the Southern District of Illinois announced the charges in a press release on Saturday.

Francis Eversman, a former senior loan officer, and Gregg Crawford, a construction business owner, admitted to orchestrating a scheme from 2011 to 2020 that relied on falsified loan applications, straw purchasers, and fake lease agreements in order to misappropriate funds from the bank.

Straw Purchasers and Inflated Properties

According to federal prosecutors, Crawford recruited individuals to serve as straw buyers—borrowers in name only—for properties that were often grossly overvalued. These individuals, who had no intention of owning or occupying the properties, were used to help secure financing under false pretenses.

Eversman, Crawford’s brother-in-law, used his position inside the bank to approve and facilitate these fraudulent loan applications.

Instead of being used for legitimate real estate purchases, the loan funds were diverted by Crawford for other purposes. In an effort to conceal the fraud, he also submitted fabricated lease agreements to create the appearance of rental income from the properties.

Attempt to Mislead Federal Regulators

The fraud came under scrutiny during an audit conducted by the Office of the Comptroller of the Currency. When questions arose about the legitimacy of the loans, Crawford instructed at least one straw purchaser to provide false information to the regulators.

This act of obstruction deepened the government’s case against the pair, showing a deliberate attempt to mislead oversight authorities.

“They Betrayed Public Trust,” Says FBI

Karen Marinos, Assistant Special Agent in Charge at the FBI’s Springfield office, underscored the broader implications of the case.

“Every American citizen deserves to walk into their bank and trust the people behind the counter,” Marinos said. “In southern Illinois, these people are usually our neighbors and friends—people we trust with our money and wellbeing. Crawford and Eversman violated that trust for personal gain.”

Sentencing Set for October

Eversman and Crawford are scheduled to be sentenced on October 14, 2025. Both defendants face:

• Up to 30 years in federal prison

• Five years of supervised release

• Fines of up to $1 million

Their convictions mark another high-profile success for the Justice Department in its efforts to prosecute financial crimes involving abuse of position and systemic deception within U.S. banking institutions.

@ Newshounds News™
Source:  DailyHodl

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 Bitcoin To Anchor America Party — ‘Fiat Is Hopeless,’ Says Elon Musk
Musk embraces Bitcoin as cornerstone of new political movement amid feud with Trump and fiat backlash

▪️ Elon Musk confirmed that Bitcoin will be backed by the newly formed America Party, stating bluntly: “Fiat is hopeless, so yes.”
▪️ The comment came in response to a follower’s question hours after Musk unveiled the political party on X.
▪️ Bitcoin briefly spiked above $109,000 as crypto Twitter lit up with the billionaire’s endorsement.

Musk Pitches Bitcoin As Political Answer to Fiat Collapse

The exchange, initiated by Brazilian Bitcoiner Renato Lima, follows Musk’s official launch of the America Party, a direct challenge to the Republican and Democratic duopoly. Musk had already framed the party as a force capable of flipping narrow House and Senate races, declaring:

“The America Party is the solution.”

His endorsement of Bitcoin further aligns the party with a hard-money, anti-fiat ethos—a message that resonates with the crypto community’s growing political clout.

Crypto Momentum Grows as Musk Splits With Trump

The timing is no accident. Musk’s move comes amid escalating tensions with President Donald Trump, who recently passed the “Big Beautiful Bill”—a spending package Musk opposes for slashing EV subsidies.

A Musk-led Twitter poll with over 1.25 million participants found that 65% of users support independence from the two-party system. Trump, in turn, called Musk “a train wreck” who’s gone “off the rails.”

The friction marks a clear political shift—and crypto users are mobilizing.

Bitcoiners Rally, but Party Remains Organizationally Bare

Despite viral support, the America Party has no official FEC filings, no leadership structure, and no formal policy platform. An unaffiliated account claiming to represent the party even had to be flagged for impersonation.

Still, Musk’s “Fiat is hopeless” tweet carried more influence than any formal press release. Large crypto accounts boosted the statement, fueling millions of impressions and a brief BTC rally past $109K.

Musk’s History With Bitcoin Strengthens Credibility

Tesla added 11,509 BTC to its balance sheet in 2021, giving Musk real skin in the game. Though the company later sold some holdings and paused Bitcoin payments, the billionaire has maintained a high-profile association with the asset.

His America Party now inherits not only that Bitcoin credibility, but also his broader anti-establishment stance, which increasingly appeals to libertarian and tech-aligned voters.

Political Impact: Could the America Party Become a Crypto Wedge?

While the America Party lacks formal structure, its impact could be immediate, especially if Musk targets battleground districts in 2026. That could split the crypto vote, drawing support away from Trump, who previously won over the sector in 2024.

If Musk fields candidates aligned with Bitcoin policy, it would present a rare political alignment between digital assets and electoral leverage—especially in tightly contested areas.

As of press time, Bitcoin is trading at $109,086.

@ Newshounds News™
Source: Bitcoinist

~~~~~~~~~

Donald Trump Slams Elon Musk’s ‘America Party’ as a GOP-Killing Train Wreck
Musk’s third-party launch sparks fierce Republican backlash ahead of 2026 midterms

▪️ Elon Musk’s launch of the “America Party” drew immediate condemnation from Donald Trump, who warned it could split the GOP and cost Republicans control of Congress.
▪️ The feud was sparked by Musk’s anger over Trump’s $3.3 trillion “One Big Beautiful Bill Act.”
▪️ Trump called Musk’s party a “train wreck,” accusing him of going “off the rails” in a scathing Truth Social post.

Trump Warns of GOP Vote Split: “The System Is Not Designed for Third Parties”

Trump’s criticism centered on the historical failure of third-party movements in U.S. politics. He cited Ross Perot’s 1992 bid, which won 19% of the popular vote but zero electoral votes, and Jesse Ventura’s brief success with the now-defunct Reform Party.

“The system seems not designed for them,” Trump wrote, emphasizing that third parties only siphon votes from their closest ideological base—in this case, the GOP.

Musk Unleashes America Party After Tax Bill Fallout

Musk’s announcement came shortly after Congress passed Trump’s controversial tax-and-spending bill, a move the Tesla CEO had warned against. Calling it a “disgusting abomination”, Musk blamed it for undermining the mission of the Department of Government Efficiency (DOGE)—a Trump-era agency he briefly led.

He had previously vowed to launch a political party if the bill passed. When it did, Musk followed through on X, declaring:

“The America Party is formed to give you back your freedom.”

Concerns Mount Among Trump Allies Over Party Defections

The growing feud between Trump and Musk has alarmed Republican insiders, especially those in swing districts. Influencer Laura Loomer even speculated that Representatives Marjorie Taylor Greene and Thomas Massie might defect to Musk’s party—a move that could fracture conservative unity.

Republican operatives worry that even a small breakaway faction could hand key seats to Democrats, especially in razor-thin midterm battlegrounds.

Musk’s Strategy: Targeted Disruption, Not a Presidential Run

Rather than running for president, Musk appears to be pursuing a tactical approach, focusing the America Party’s resources on 2–3 Senate races and 8–10 House districts. In today’s hyper-partisan environment, that may be all it takes to reshape legislative control.

“Laser-focus on tight seats,” Musk said, indicating a plan to flip or block just enough to hold leverage in Congress.

While FEC filings for the America Party have surfaced, Musk has confirmed that at least one is fraudulent, leaving questions about the party’s official status and infrastructure. Still, the political threat is real—and growing.

@ Newshounds News™
Source: Coinpedia   

~~~~~~~~~

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MilitiaMan and Crew: Iraq Dinar News- Baghdad & Erbil Oil Agreement-Avoid American Trap

MilitiaMan and Crew:  Iraq Dinar News- Baghdad & Erbil Oil Agreement-Avoid American Trap

7-6-2025

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

In this insightful video, we delve into the complexities of the Iraqi Dinar and the recent developments surrounding the Oil and Salary Agreement between Baghdad and Erbil.

 With Iraq's vast oil reserves at the center of economic discussions, we explore how this agreement aims to ensure equitable distribution of resources and salaries between the federal government and the Kurdistan Regional Government (KRG).

Join us as we analyze:

 The significance of the Iraqi Dinar in the context of these agreements and its impact on the economy. The strategic importance of oil fields and how Baghdad plans to exert control over them amid regional tensions.

 The implications of the Oil and Salary Agreement for both Baghdad and Erbil, and what it means for the Kurdish population.

How the Iraqi government and KRG are working to avoid potential pitfalls, including the perceived American trap of foreign intervention and influence.

The critical issue of anti-smuggling efforts in the oil sector and how they play a role in stabilizing the economy. Whether you're interested in Middle Eastern politics, economics, or the intricacies of the Iraqi financial system, this video provides a comprehensive overview of the current state of affairs in Iraq.

https://www.youtube.com/watch?v=ldS0r2XKmyY

The Stock Market Peaked 25 Years Ago in Real Terms

The Stock Market Peaked 25 Years Ago in Real Terms

Liberty and Finance:   7-5-2025

In a recent compelling discussion with Liberty and Finance, renowned precious metals expert David Morgan peeled back the layers of apparent market prosperity, offering a stark warning that beneath the surface of robust nominal stock market indices lies a hidden, long-term erosion of real value.

Morgan’s insights challenge conventional views, arguing that while the stock market appears strong on paper, its true performance since its 2000 peak has been dismal when measured against gold, the universal constant.

Morgan articulated his concept of an “invisible crash,” a stealthy decline in purchasing power masked by relentless inflation and the systematic debasement of fiat currencies.

He contends that the everyday investor, seeing rising market numbers, is often unaware that their wealth is subtly yet profoundly diminishing in real terms. Gold, in his view, serves as the unyielding barometer of this decline, revealing the true economic landscape distorted by monetary policy.

While the broader market narrative is bleak, Morgan expressed considerable bullishness on silver, noting its recent strength, particularly its move above the $37 mark.

 He forecasted potential triple-digit prices for silver in the coming years, positioning it at the forefront of what he believes will be a major precious metals bull market. This optimism for silver stands in contrast to his broader concerns about the global financial system.

Morgan did not mince words when discussing the role of central banks, particularly the Federal Reserve. He warned that the Fed’s endless interventions and a pervasive reliance on unsustainable debt have fundamentally distorted economic signals.

This, he suggested, is setting the stage for an unprecedented economic scenario: a hyperinflationary depression. This grim outlook posits that while market indices might appear to climb, they would merely reflect rapidly depreciating currency, leading to a severe decline in living standards and economic stability.

At the heart of Morgan’s analysis is a passionate plea for sound money.

He argued that fiat currency, untethered to tangible assets and subject to political manipulation, not only undermines economic stability but also erodes societal trust and personal freedom.

For Morgan, adhering to principles of sound money is not merely an economic preference but a fundamental requirement for a prosperous and free society.

David Morgan’s insights serve as a potent reminder for investors and the public to look beyond nominal figures and understand the true purchasing power of their wealth. His warnings underscore the critical importance of financial literacy and the pursuit of assets that can preserve value in an increasingly volatile and uncertain economic environment.

https://youtu.be/K9cwgHVj84o

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 7-6-25

Good Afternoon Dinar Recaps,

BRICS Unveils 200-Denominated Bank Note at 2025 Summit?
A symbolic gesture, not a currency launch—Putin reveals mock BRICS note to stir global conversation on de-dollarization

▪️ A 200-denominated BRICS bank note displayed at SPIEF 2025 has gone viral—but it’s not a real currency.
▪️ The note features national flags and birds of BRICS members, symbolizing unity across geopolitical divides.
▪️ Despite speculation, the bloc remains divided on launching a common currency, especially between China-Russia and India-Brazil factions.

At the 2025 St. Petersburg International Economic Forum (SPIEF), Russian President Vladimir Putin unveiled a symbolic 200-denominated BRICS bank note, igniting another wave of speculation about the future of BRICS monetary cooperation. However, the note is not legal tender, nor does it represent an official step toward a unified BRICS currency.

This follows a similar stunt from the 2024 Kazan Summit, where Putin revealed another mock-up. The note shown this year again featured emblems representing each member state, but it remains purely ceremonial—meant more to signal intent than serve as a functional medium of exchange.

No Common Ground Yet: Divisions Within the BRICS Bloc

While Russia, China, and Iran are pushing hard for a BRICS common currency, other members—including India, Brazil, South Africa, and the UAE—remain cautious or outright opposed. India has been particularly vocal in rejecting the notion, casting doubt on any near-term issuance of a BRICS bank note or reserve currency.

“The bill cannot be taken seriously as it’s not an official currency of the alliance,” the article states, reflecting the fractured consensus among member nations.

Concerns about China’s strategic ambitions are also fueling resistance. Some BRICS nations see the currency push as a tool for Chinese influence, rather than a truly cooperative initiative. Meanwhile, Russia and Iran, under heavy U.S. sanctions, are eager to bypass the dollar and see BRICS as a lifeline for economic sovereignty.

A Symbol of Aspiration—But Not of Monetary Reality

While the mock note has captured global attention, it holds no real monet<!-- GAM 71161633/DNARCPS_dinarrecaps/blog_posts_karen -->

<div data-fuse="23035929188"></div>ary value. It cannot be traded, exchanged, or used in commerce. For now, it serves as a visual symbol of de-dollarization ambitions, rather than a concrete policy step.

Nonetheless, the display underscores the political weight behind the BRICS monetary agenda, even if practical implementation remains distant.

“There is no other option but to rely on other forms of payment than the US dollar,” notes the article, summarizing the urgency for some member states.

What Comes Next?

Until all member states align ideologically, a BRICS reserve currency remains more of a diplomatic tool than an economic reality. But these repeated symbolic gestures—especially from Moscow—signal that de-dollarization remains front and center on the bloc’s agenda.

Whether the 200-denominated note will evolve into a genuine instrument of trade or remain a propaganda image depends on how internal rifts are resolved.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

Brazilian President Lula Proposes BRICS Develop New Trade Currency
Lula calls for a new settlement mechanism to counter austerity and restore multilateral order

▪️ Brazilian President Luiz Inácio Lula da Silva has renewed calls for the creation of a BRICS trade currency.
▪️ Lula emphasized that while politically complex, a common trade unit is “extremely important” for global balance and humanity’s future.
▪️ The proposal emerged during the 10th annual New Development Bank (NDB) meeting, where Lula pushed for new financing models and monetary independence.

Speaking at the 10th meeting of the New Development Bank, Lula made an emphatic plea to the BRICS bloc to develop a shared trade currency, aiming to disrupt current global settlement systems and reduce dependence on the U.S. dollar. He presented the idea as part of a broader push to combat austerity-driven policies imposed by world powers on emerging and developing economies.

“The debate over the need for a new trade currency is extremely important. It’s complex… but if people don’t find a new formula, the 21st century will end the same way the 20th century began—and that will not be beneficial for humanity.”

Lula’s Vision: Trade, Multilateralism, and Global Equity

In line with his long-standing commitment to multilateralism and free trade, Lula argued that the current system no longer serves the needs of the global South. He called on NDB President Dilma Rousseff to work with international financial institutions to design new financing and monetary alternatives.

Lula also warned that failure to act now could weaken global democracy:

“Multilateralism is facing its worst moment since its inception after World War II,” he noted.

The concept of a BRICS currency is not new, but it has consistently faced resistance—mainly due to political divergence within the bloc. So far, BRICS has instead pursued national currency-based trade settlements as a transitional step.

Global Impact and U.S. Response: A Dollar Under Threat?

The significance of such a currency is not lost on geopolitical actors. Even Donald Trump weighed in late last year, warning that any BRICS nation issuing a new currency or abandoning the U.S. dollar would face punitive tariffs up to 100%.

“They should expect to say goodbye to selling into the wonderful U.S. economy,” Trump threatened, underlining U.S. concern about losing monetary dominance.

This reinforces how the mere possibility of a BRICS trade unit could have major geopolitical and market implications, particularly for U.S. dollar hegemony in international trade.

What Comes Next?

Although Lula’s proposal remains in its early stages, it is gaining traction amid growing dissatisfaction with dollar dependency—especially among sanctioned economies like Russia and Iran, and rising powers like China.

The debate over a common BRICS trade currency is now not just economic—but existential, as it reflects deeper questions about the future of global governance and financial sovereignty.

@ Newshounds News™
Source: Bitcoin.com

~~~~~~~~~

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The Silent Financial Reset: What ISO 20022 Really Means

The Silent Financial Reset: What ISO 20022 Really Means

Miles Harris:  7-6-2025

A new financial language is being adopted across the globe. It is silent, technical, and largely unnoticed by the public. Yet it is shaping the future of money itself.

 That language is ISO 20022.

It is not a policy or a treaty. It is a structural shift that enables central banks, sovereign states, and financial institutions to redesign how value moves.

The standard was first designed in the early 2000s by the International Organization for Standardization. It was tested over the following years across pilot infrastructures and selected payment systems.

 By 2004, it was formally introduced. Its adoption was initially limited, but its potential became clear as financial systems evolved.

Now, two decades later, ISO 20022 is becoming the global backbone for digital value exchange.

00:00 The Silent Code Reshaping Global Finance

 01:23 Two Directions; One Pipeline

02:04 Who Really Controls the Pipes?

 02:58 CBDCs: The Power Tool ISO 20022 Was Built For?

 04:10 Escaping the Dollar without leaving the system

05:08 Metadata: The Surveillance Layer No One Voted For

06:00 Money With Rules: When Policy Becomes Code

06:45 One Standard, Many Flags

https://www.youtube.com/watch?v=I8tXQEe-7CU

MilitiaMan & Crew: Iraq Dinar- The Future Iraq Dinar: Investment Opportunities & Economic Progress

MilitiaMan & Crew:  Iraq Dinar- The Future Iraq Dinar: Investment Opportunities & Economic Progress

7-5-2025

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

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

In this exciting episode, we explore how Iraq is opening its doors to foreign investments, creating a vibrant environment for global investors.

With the recent introduction of a national car designed to be purchased using the dinar, Iraq is taking significant strides toward economic independence and innovation.

We also discuss the successful management of the country's financial and economic policies, showcasing how Iraq is stabilizing its economy and fostering growth.

Additionally, we highlight a landmark agreement between Baghdad and Erbil aimed at resolving the ongoing export and salary crisis, paving the way for a more unified and prosperous Iraq.

 Join us as we unpack these developments and what they mean for the future of the Iraq Dinar and the overall economy.

https://www.youtube.com/watch?v=S2r71hLzkHU

Iraq Economic News and Points To Ponder Sunday Morning 7-6-25

Central Bank: The Use Of International Cards Continues Inside And Outside Iraq Without Change.
 
Baghdad Today – Baghdad  The Central Bank of Iraq issued a clarification today, Friday (July 4, 2025), regarding the use of international cards, confirming their continued use inside and outside Iraq without change.
 
The bank stated in a statement received by Baghdad Today that  "the National Electronic Payment Card Project is an additional local option used exclusively within Iraq and in Iraqi dinars.  It does not cancel or restrict existing international cards such as Visa and Mastercard." 

The statement added, "There are no plans to cancel these cards or ban dollar transactions outside Iraq.
Holders can still use them inside and outside the country as is currently the case."
 
According to the statement, the bank indicated that "this project aims to
     reduce payment costs,
     enhance financial inclusion,
     diversify options for the public, and
     provide national cards for all institutions and segments within Iraq,

" indicating that "international cards remain the primary means of  spending in dollars or other currencies outside Iraq and for  purchases via global websites."    https://baghdadtoday.news/277873-.html  

Iraq's Decline In Public Debt... Does It Signal An Economic Renaissance?
 
Close up breaking  2025-07-04 Shafaq News - Baghdad The Iraqi government has begun taking steps to reduce its internal debt.
 
The domestic budget is 85 trillion dinars, and  the external budget is 54 billion dollars, through a plan that depends on a combination of    Rationalization,   repayment,  structuring and  revenue expansion, with particular focus on Only productive borrowing instead of inefficient borrowing.
 
As a result of this strategy, the bank's statistics showed that The Central Bank of Iraq announced, yesterday, Thursday, a decrease in domestic public debt at the end of the month. April of this year to reach 85 trillion and 503 billion Iraqi dinars, down For the month of March, which amounted to 85 trillion and 536 billion dinars.
 
The official statistics that I reviewed indicated that Shafaq News Agency reported that "the decline came as a result of repaying loans from financial institutions."
To reach 19 trillion and 119  billion dollars after it was 19 trillion and 152 billion dollar". 

She explained that "the remaining debts are owed by... The Ministry of Finance owes 756 billion dinars, and treasury transfer debts to the Central Bank.

Commercial banks amounting to 51 trillion and 30 billion dinars, in addition to treasury transfers. On account of the Ministry of Finance in the amount of two trillion and 30 billion dinars, and national term debts Farmers' dues amount to 12 trillion and 568 billion dollars.

As for external debt, official statistics revealed that The Central Bank of Iraq stated on June 14, as seen by Shafaq News Agency, that:  Iraq's debt in 2024 amounted to $54.6 billion.
A decrease of 2.94% compared to 2023, in which debt amounted to 56 billion and 207 Millions of dollars.
 
Financial and economic experts explain that:
External debts due over the next four years are about 9 billion. Dollar, and there are external debts of a similar amount extending over longer years related to long-term loans from International funds for the reconstruction of mostly liberated areas.
 
Experts confirmed that the ratio of external debt to GDP is in the safe range of no more than 8% of GDP Total, which places Iraq within the comfortable and low-risk global credit rating.
 
Experts point out that Iraq has resources.
 
Diversified investments can lead to eliminating these debts, which contributes to maximizing confidence. In the national economy and  improving the international investment environment for the Iraqi economy.
 
Experts explain that the lower the interest burden, the better. Internal and external debts decreased as investors were reassured that Iraq was able to... Covering investment costs, and providing appropriate returns on those investments will lead to...
 
There is a need to diversify the national economy,  especially since there is a need for a thousand strategic projects. In the food, energy, transportation and other sectors.
 
"Financial reinforcement"
 
In detail, the Prime Minister's Advisor for Affairs says: Finance, Mazhar Muhammad Salih, said,  “The syndrome of low public debt growth rates or Government with the decline in growth in the annual budget deficit  is a trend that constitutes one of The components of the success and strength of the country's financial policy are called "financial consolidation."
 
"It is an essential goal of the program. Government, and undoubtedly indicates a shift towards another essential interdependence, which is the cohesion of financial sustainability. “With sustainable development,” Saleh said. He added to Shafak News Agency, "This renaissance in Managing public financial resources will undoubtedly lead to diversification of the national economy.

And moving the joints of growth in more than one economic sector guarantees the well-being of Iraqi society and its future.

Development in it.
 
Based on the above, Saleh explains that,  “the more Debt decreased, dependence on creditors from all sources, especially external debt, decreased,
 
Which leads to increased government flexibility in formulating monetary and fiscal policies away from Conditions of countries and foreign institutions donating debts. 

He continues,  "In addition to enhancing confidence in The national economy is an attractive point and a better business climate for investors due to the low risks. economy, while at the same time improving the country's credit rating."
 
As for the domestic public debt, it is according to Saleh "leads to easing the pressure on bank financing so that banks can devote themselves to granting Loans to the private sector,   as well as reduced competition between the government and the market over the price "Benefit".  He explains,
 
“Bank interest rates often rise.” Available to the private sector with rising local sovereign debt due to the pressure factor on Liquidity and bank credit, which is called (displacement - a phenomenon that occurs when Government spending through debt or large public borrowing to reduce or (displace) "Private investment or spending in the economy."

 Saleh confirms that "the decrease in what the government allocates... From its budget for interest and installment payments,
 
it will undoubtedly free up additional resources for infrastructure spending. Infrastructure, education, health, etc., in programs that maintain disciplined spending (non- (Austerity) and is consistent with the principles of financial governance in the government programme and development plan. National 2024-2028.
 
Debt reduction measures 
 
Among the debt reduction measures and their implications, the expert says: Financial and economic, Safwan Qusay, said:
 
“Zeroing domestic debt requires taking The Ministry of Finance has taken steps to facilitate the smooth settlement of this bill to creditors.
 
From this, Qusay explains to Shafaq News Agency, “From During the transfer of ownership of a portion of state real estate,   by issuing real estate shares for those assets and transferring Ownership of these shares goes to the creditors, to eliminate debts and not burden the budget.

"Federal cumulative benefits."  

He stresses that "this solution can contribute to Increase the financial flexibility of the Ministry of Finance later in covering the deficit through borrowing.

"Internal"
 
As for external debts, according to Qusay, Limited, long-term, with reduced interest, and the process of zeroing them out is done by setting a group One of the alternatives for the Ministry of Finance to expedite its payment, which contributes to improving the environmental outlook. International investment in the Iraqi economy. 

He explains, “The lower the interest burden and the more the Internal and external debts, the more investors are reassured that Iraq is able to cover Investment costs and providing appropriate returns on those investments.
 
Qusay reassures that “external debts are not…” Worried or dangerous, it is not high, as global indicators allow for internal borrowing And external to reach 60 percent of the GDP, and  yet it should not be burdened Future generations will suffer from such debts,  especially since Iraq has diverse resources that can Investing it in a way that leads to eliminating these debts.”  
 
Benefits hindered by corruption 
 
In turn, the economic expert, Karim Al-Helou, notes that:  "Most countries in the world are in debt, internally or externally, whether from international banks or "IMF and the like." 

Al-Halou explained to Shafaq News Agency,  "The highest The world's largest debt is the American debt, as the US government's domestic debt exceeds 36 A trillion dollars, and this is a weak point, and Germany also has two trillion euros in debt internally, but "Domestic debt remains much less harmful than external debt."  He explains that the internal debt is in the currency.”

 Local,  so the money can be circulated and the problem can be solved,but the external debt has profits, 
It may be exploited politically against countries that borrow.
 
On the importance of debt repayment and its impact on the economy Especially in Iraq, Al-Halou confirms,
 
“Paying off internal or external debts can…
Then transfer these installments to investment in the infrastructure and projects that it needs.

Iraq at the present time, especially since there is a need for a thousand strategic projects in the sectors
     Food,
     energy,
     transportation, etc. 

He points out that "the decline in domestic debt or External control in Iraq means that the state and its institutions have begun to control many things, but The road remains long in light of the corruption that hinders many projects in terms of
     corruption.
     Administrative corruption,
     bribery,
     favouritism,
     red tape and
     institutional ignorance.
 
This impression is reinforced by what Al-Halou says in: He concluded his speech by saying,
 
“I note that hundreds of good decisions have been issued by the Iraqi Council of Ministers, but…
 
When it comes to implementation in the provinces,
it is obstructed by corrupt parties exploiting the positions they hold.
 
It is acquired, and therefore most tenders and investment projects are not delivered except With bribery, this is a major flaw and a cancer eating away at the country's body. https://shafaq.com/ar/تقارير-وتحليلات/تراجع-الدين-العام-العراقي-هل-يشير-لنهضة-اقتصادية  

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com

Seeds of Wisdom RV and Economic Updates Sunday Morning 7-6-25

Good Morning Dinar Recaps,

 Europe Hopes To Avoid the Worst: A Possible Agreement With the USA This Weekend?
EU scrambles to avert tariff showdown as U.S. threatens up to 70% duties on exports

▪️ Europe faces a July 9 deadline from Washington to reach a trade deal or risk crippling tariffs by August 1.
▪️ Customs duties could rise to 70% on EU exports if no agreement is reached.
▪️ Brussels is pushing for a last-minute agreement to avoid a transatlantic trade war that could reshape global economic alignments.

As global trade dynamics continue to shift, Europe finds itself cornered by a hard deadline imposed by the U.S. administration. Former President Donald Trump—who is leading current trade policy—has issued an ultimatum: reach a bilateral deal by July 9 or face punitive tariffs beginning August 1.

Brussels is scrambling to de-escalate the situation. In a tense climate of accelerated diplomacy, an EU delegation is currently in Washington negotiating to prevent a tariff confrontation that could destabilize key European industries.

Tariff Escalation Threatens to Ignite Trade War

Trump’s unilateral move stems from an April proposal to reform U.S. foreign trade strategy. Since then, 12 official letters have been dispatched to major trade partners, including the EU, signaling a shift toward aggressive bilateralism. Key elements of the proposed sanctions include:

▪️ Tariffs ranging from 10% to 70% on EU exports, effective August 1, 2025,
▪️ Criteria based on trade imbalances, targeting countries with high export volumes to the U.S.,
▪️ Departure from WTO multilateral principles in favor of direct economic pressure.

“I hope we will have an agreement this weekend. Otherwise, Europe will probably have to show more strength in its response to restore balance,” said French Economy Minister Éric Lombard on Saturday.

Europe Braces for a Return to Protectionism

Facing an increasingly hostile trade environment, European leaders are debating whether to adopt more assertive protectionist policies. Lombard signaled that the EU should prepare to erect its own customs barriers, not only against the United States but also against China, which is often accused of unfair trade practices.

“It’s like a playground where everyone plays hopscotch with supervisors and rules. Then three bullies arrive and ignore all the rules,” Lombard said, pointedly referring to the U.S., China, and Russia.

This metaphor underscores Europe’s growing concern: a breakdown of multilateralism and the rise of a raw-power economic order, where strategic autonomy and hardline trade responses may be the only path to survival.

Crypto Markets Eye Opportunity Amid Geopolitical Shifts

As tensions mount, financial markets are beginning to price in geopolitical risk. Digital assets, especially Bitcoin (BTC), are gaining attention as a hedge against rising trade uncertainty and weakening trust in fiat currencies.

A full-scale tariff war could accelerate capital flows into decentralized assets, particularly if U.S.-EU monetary tensions fuel inflation or currency instability.

Institutional investors are keeping a close watch on this weekend’s negotiations, knowing that failure could trigger new volatility cycles and place crypto back at the center of global hedging strategies.

Trade Turbulence May Force Europe Toward Greater Sovereignty

If talks collapse, the resulting tariffs could cripple EU exporters and amplify imported inflation, especially in key sectors like machinery, automotive, and luxury goods.

In the medium term, this would likely strengthen Europe’s resolve to pursue industrial and monetary sovereignty—possibly accelerating moves toward:

• A more unified EU trade policy,

• Greater investment in European supply chains, and

• Broader exploration of digital currencies and decentralized finance to reduce reliance on U.S.-led systems.

A return to protectionism—if confirmed by Washington’s actions—could mark a turning point for global trade, ushering in a new era defined by sovereignty-first economic policy.

@ Newshounds News™
Source: CoinTribune

~~~~~~~~~

ECB President Christine Lagarde Warns Stablecoin Adoption Might Lead to ‘Privatization of Money’
Lagarde urges caution as stablecoins challenge central banks’ role in safeguarding monetary sovereignty

▪️ Christine Lagarde warns that stablecoins should not be treated as money, highlighting risks to financial sovereignty.
▪️ Privately issued stablecoins could undermine central banks’ ability to conduct monetary policy.
▪️ The ECB advocates for a public alternative through the forthcoming digital euro.

Speaking at a central bank forum in Portugal, European Central Bank (ECB) President Christine Lagarde issued a direct warning about the growing use of stablecoins. She argued that these digital assets, issued by private companies like Tether (USDT) and Circle (USDC), pose a significant challenge to public financial institutions and blur the line between money, payments, and infrastructure.

“I think that we are falling prey to some confusion between money, means of payment, and payment infrastructure… accelerated by the technology that is being used,” said Lagarde.

The Rise of Stablecoins: A Threat to Monetary Sovereignty?

Lagarde’s remarks reflect mounting concern within global central banks over stablecoins’ role as money substitutes. By mimicking the value of fiat currencies but existing outside of central bank control, stablecoins threaten to erode public trust in traditional monetary frameworks.

“My fear is that this blurring of the lines… is likely to lead to a privatization of money. I don’t think that this is the purpose for which we’ve been appointed… nor is it good for this public good that is money,” she emphasized.

Stablecoins, often used for digital commerce, cross-border payments, and DeFi transactions, operate independently of national monetary systems, which weakens central banks’ ability to implement effective monetary policy.

ECB’s Digital Euro: A Public Answer to Private Innovation

To counteract the growing influence of private digital currencies, the ECB is pushing forward with the digital euro—a central bank digital currency (CBDC) designed to retain public control over digital money.

Lagarde has long championed the digital euro as both a tool of sovereign economic policy and a technologically advanced public payment option. In June, she reaffirmed that the digital euro is nearly ready for launch, pending final regulatory clearance.

The digital euro aims to balance innovation with monetary stability, ensuring that digital transactions do not shift the power of money creation and policy away from democratic institutions.

A New Financial Paradigm: Who Should Control the Money Supply?

The ECB’s messaging marks a broader philosophical debate: Should money remain a public good managed by central banks, or shift toward private issuers in the name of innovation and convenience?

Stablecoins, which were originally introduced to simplify crypto trading, are increasingly used as real-world proxies for fiat currencies, raising profound regulatory and economic implications.

Lagarde’s warning comes amid growing international calls to regulate stablecoins, particularly as their adoption rises among retail and institutional users alike. The clash between centralized public finance and decentralized digital currencies is now a defining tension of modern monetary policy.

@ Newshounds News™
Source: Bitcoin.com

~~~~~~~~~

Musk Announces Formation of ‘America Party’
Tech mogul launches third-party bid, slams “uniparty” politics and GOP spending bill

▪️ Elon Musk announced the formation of the “America Party”, a new political faction aiming to disrupt the U.S. two-party system.
▪️ The move follows a poll on X (formerly Twitter) where users backed the idea of a third party by a 2-to-1 margin.
▪️ Musk, a vocal critic of both Democrats and Republicans, framed the party as a return to “freedom” and common sense, declaring the U.S. lives under a “one-party system.”

On Saturday, tech billionaire Elon Musk made headlines again—this time in the political arena. In a post on X, which he owns, Musk wrote:

“By a factor of 2 to 1, you want a new political party and you shall have it… Today, the America Party is formed to give you back your freedom.”

Shortly after, a live page for the America Party went public, gaining over 19,000 followers in hours. The page emphasizes a platform “built on common sense, not consultants.”

Tensions with Trump and the GOP Spark Third-Party Bid

The launch comes after Musk threatened to form a third party in response to the GOP's recent spending package. Musk criticized the legislation for stripping electric vehicle (EV) credits, a direct blow to Tesla, one of his core businesses.

“The way we’re going to crack the uniparty system,” Musk wrote, “is by using a variant of how Epaminondas shattered the myth of Spartan invincibility at Leuctra: Extremely concentrated force at a precise location on the battlefield.”

Musk, historically a Republican-leaning donor, is now shifting focus toward building a new base, appealing to voters disillusioned with both major parties.

Bannon Calls for Musk’s Deportation Over Third Party Move

The announcement sparked backlash from Trump’s former chief strategist Steve Bannon, who attacked Musk’s citizenship and motivations.

“Only a foreigner could do this... Elmo the Mook, formerly known as Elon Musk... He should be deported,” Bannon said on his War Room podcast.

Bannon accused Musk of undermining American politics and suggested potential legal actions to challenge his role in forming a party he sees as un-American.

Trump Responds: DOGE Probe and Subsidy Accusations

In response, President Trump hinted at launching a federal probe into Musk’s businesses through the Department of Government Efficiency (DOGE)—a department previously led by Musk.

 “Elon may get more subsidy than any human being in history… No more rocket launches, satellites, or electric car production,” Trump wrote, calling for DOGE to examine Musk’s government ties.

The president claimed Musk has profited from “BIG MONEY” in federal aid and subsidies, suggesting his companies are overly dependent on taxpayer funds.

What Comes Next?

With U.S. elections approaching, the America Party could draw support from independents and swing voters dissatisfied with traditional party politics. However, the move also opens Musk to intense political and legal scrutiny, particularly as tensions with Trump escalate.

Whether this initiative gains real traction or remains symbolic, it reflects a growing crack in America’s bipartisan system, now challenged by one of the most influential entrepreneurs in the world.
@ Newshounds News™
Source: The Hill

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 7-6-2025

TNT:

Tishwash:  Here's what's happening on Tuesday... The Baghdad-Erbil dialogue is reaching its final stages.

An informed source reported on Saturday that the talks between the central and regional governments have reached their final stages, while indicating that the two sides are close to drafting the final agreement.

The source said in a statement monitored by Al-Masry that "the supposed agreement stipulates the re-exportation of the region's oil, the latter's handing over its revenues to the federal government, and the commencement of the settlement of salaries."

He added, "If a final agreement is reached on the draft agreement, it will be ratified by the Council of Ministers in its session next Tuesday, after which salaries for Kurdistan Region employees will be disbursed."  link

Tishwash:  Alaa Al-Fahd: Iraq is entering a new phase, and electronic payments will strengthen the dinar.

Economic expert Alaa Al-Fahd affirmed on Saturday that the Central Bank's move to establish a national electronic payment company represents a fundamental pillar in promoting financial inclusion and sovereignty over financial transactions within Iraq. He noted that it is part of an integrated strategy to reform the banking system.

Al-Fahd told the Jarida Platform , "This step aims to expand the electronic payment base, enhance public confidence, and reduce reliance on cash through local systems that contribute to strengthening the Iraqi dinar."

He added, "The project is part of a package of reforms being implemented by Iraq in cooperation with international audit firms, enabling greater flexibility in banking transactions and increasing the volume of electronic trading." He noted that "the Central Bank's current approach reflects an accelerated vision to reduce implementation time and achieve real reforms in the banking structure."  link

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

Tishwash:  Al-Sudani's advisor: The value of the region's oil contracts and transportation costs delayed amending the three-year budget law.

The Prime Minister's Financial Advisor, Mazhar Mohammed Saleh, affirmed that "there is significant and ongoing cooperation between the legislative and executive authorities in monitoring and managing the country's financial affairs, with understanding, interaction, and optimization of great importance to ensuring the economic stability the country is experiencing."

Saleh said in a press statement, “Based on the Federal General Budget Law No. 13 of 2023, the three-year budget, the federal financial policy was formed on an approach called (fiscal space), which gave it the high ability to move dozens of approved and previously suspended strategic government projects to implementation.

This is what distinguished it with the high activity of the development wheel in implementing the service projects that the country is witnessing without stopping, and its results became tangible thanks to the success of the three-year budget, in addition to what was approved of major projects that were approved in the 2023 and 2024 budget schedules, which are among the projects that are currently continuing without stopping.”

He pointed out that “the financial compass reading, which required the submission of the 2025 budget tables for legal approval in accordance with Article 77/Second of the Budget Law, was truly delayed for two fundamental reasons. The first is the awaiting of the amendment to the Triennial General Budget Law, which concerns the values ​​of the region’s oil contracts and the costs of transporting its oil, which were not approved until last February. The other reason relates to the fluctuations that global energy markets were exposed to and the effects of global oil prices on the general budget, which also required a re-reading of some financial constants and variables, whether revenues, expenditures, financing the deficit and its sources, more than once due to international geopolitical and economic problems and the major issues that occurred in the global economy at an accelerating pace, which led to the generation of volatile shocks in close periods of the current fiscal year, which necessitated hedging against external shocks.”

He continued, "As far as the rights and entitlements acquired in the operational aspect of the general budget are concerned, which have not been disbursed and are contingent upon the submission of the financial schedules for the year 2025, these are rights protected by law and reserved for those entitled to them, and they are not cancelled by the statute of limitations. It is only a matter of time and will be disbursed once those schedules are approved or any adjustment that does not conflict with the law."

link

Mot:  Still is Amazing to Me the Things ""Folks"" Worry about!! - LOL!!! 

Mot:  Siiggghh -- I Just Found out Soooo many Things I Needs to Figure out!!!! 

The End of the Dollar Dominance Starts Now, the Dollar is Dying

The End of the Dollar Dominance Starts Now, the Dollar is Dying

Lena Petrova:   7-5-2025

August 1971 marked a seismic shift in global finance. President Richard Nixon’s unilateral decision to end the US dollar’s convertibility to gold effectively dismantled the Bretton Woods system, ushering in a turbulent decade characterized by soaring inflation, stagnating growth, and a weakening dollar.

Over half a century later, echoes of that period ripple into 2025, as the US dollar experiences its worst six-month performance since 1973, with a significant decline in the dollar index signaling a widespread divestment by global investors.

The dollar’s undisputed reign began in 1944 with the Bretton Woods agreement, a cornerstone of the post-World War II economic order.

 Under this system, the dollar was pegged to gold at a fixed rate, and other major currencies were, in turn, pegged to the dollar. This architecture provided much-needed stability, facilitating international trade and investment in a recovering world.

However, the very success of Bretton Woods sowed the seeds of its undoing. As economies like Japan and those in Europe burgeoned, their demand for dollars grew exponentially to stabilize their own currencies against extreme exchange rate volatility – the unpredictable and rapid fluctuations that complicate global commerce.

The US, in its role as the world’s primary liquidity provider, responded by running persistent fiscal deficits and accumulating debt. Yet, its gold reserves struggled to keep pace, gradually eroding international confidence in the dollar’s backing. By the late 1960s, domestic spending on the Vietnam War and ambitious social programs fueled inflation, prompting nations like France to exchange their dollar reserves for gold, a clear vote of no-confidence in the dollar’s true value.

Nixon’s dramatic suspension of gold convertibility ushered in a decade of economic difficulty marked by “stagflation” – the unwelcome combination of stagnation and inflation – and rising interest rates. The parallels to the present are stark.

Fast forward to 2025, and the US dollar faces renewed pressure, exacerbated by volatile economic policies. The erratic trade wars and unpredictable strategies of the Trump Administration have shaken confidence in US financial leadership and strained global alliances.

Adding to the alarm, the proposed “Mara Lago Accord,” a plan to issue century-long zero-interest bonds, has sent shivers through foreign governments, intensifying fears of a potential US default as the national debt soars beyond 120% of GDP.

As the US grapples with these severe fiscal challenges, alternative currencies are gaining significant traction. China’s renminbi, despite not being fully convertible, is increasingly favored in bilateral trade, particularly across Asia, Latin America, and Africa.

The Euro continues to offer a comparatively stable alternative for global transactions, while cryptocurrencies are slowly but surely integrating into legitimate financial operations, signaling a broader diversification trend.

While the dollar’s entrenched dominance won’t vanish overnight, a significant shift is underway. Diversification by central banks away from US Treasury securities could trigger a domino effect: higher interest rates, more expensive debt servicing, and a vicious cycle that further worsens America’s fiscal health.

This precarious situation brings to mind the prophetic mid-20th-century warning from Yale economist Robert Triffin. He posited that the US would inevitably have to run persistent deficits to supply the global economy with liquidity, but these very deficits would, over time, undermine confidence in the dollar itself. Triffin’s dilemma was tragically realized in 1971, and it appears to be repeating itself in 2025.

However, unlike the past, the dollar now faces formidable competition from rising alternatives. Should the US continue its path of unpredictable and potentially destabilizing policies, the decline in dollar confidence could accelerate, potentially leading to a prolonged and painful adjustment period for the global financial system.

While the dollar remains a powerful force today, shifting global dynamics suggest its long-unchallenged supremacy may soon be a thing of the past.

https://youtu.be/R6EYv_Q4d3w