The Financial Reset Nobody is Watching

The Financial Reset Nobody is Watching

Miles Harris:  7-19-2025

The video delves into the ongoing, largely unnoticed transformation in the global financial system driven by the tokenization of real-world assets via blockchain technology.

While much public attention focuses on cryptocurrencies, inflation, and politics, financial institutions, asset managers, and central banks are quietly reshaping ownership itself. Tokenization converts physical assets—such as real estate, bonds, and money—into digital tokens represented as programmable code on private blockchains.

This innovation promises faster settlement, fractional ownership, and more efficient markets, but it also introduces fundamental shifts in how ownership and control are defined and exercised.

Unlike traditional ownership, tokenization creates a layer of abstraction where the token represents a claim often governed by private custodians and code rather than legal title. This conditional ownership is programmable, meaning access to and use of assets can be restricted or revoked automatically by pre-set rules embedded in smart contracts.

 Major players like BlackRock, JP Morgan, and central banks are pioneering permissioned blockchain platforms that operate under their control, not public decentralized networks. These systems enable near-instant settlement and automated compliance but also centralize power and surveillance over financial activities.

Central Bank Digital Currencies (CBDCs) combined with tokenized assets enhance the capacity for continuous monitoring, enforcement, and control at unprecedented scales and speeds. The touted benefits of efficiency and inclusion mask a deeper reality: these developments concentrate control in the hands of large institutions, replacing traditional legal mechanisms with code-based governance. Ownership becomes conditional and contingent on meeting coded rules, potentially limiting individual autonomy and financial freedom without transparency or recourse.

The video warns that this financial reset is not a democratizing revolution but a stealthy consolidation of control by financial elites, technology providers, and governments.

Ordinary people risk losing genuine ownership and privacy, facing exclusion if they lack digital identities or remain unbanked. To mitigate these risks, the video advocates maintaining exposure to decentralized tools like Bitcoin with self-custody, preserving real-world assets, using cash while possible, and staying informed about the evolving infrastructure.

 Ultimately, while tokenization brings efficiency, it also brings programmable ownership, automated enforcement, and institutional dominance, reshaping the very nature of money and property rights.

https://youtu.be/wPIubDbac1w

Iraq Economic News and Points To Ponder Saturday Afternoon 7-19-25

Iraq Economic News and Points To Ponder Saturday Afternoon 7-19-25

Jamima Port Is About To Open And The Ports Are Achieving Unprecedented Revenues.

July 19, 2025   Baghdad - Qusay Munther   The Jamima border crossing with Saudi Arabia will soon enter service, boosting trade and economic exchange between Baghdad and Riyadh. This comes amid government efforts to open new windows to support the national economy and expand foreign trade routes, in line with the government's current regional openness plans.

Lieutenant General Omar Adnan Al-Waili, head of the Border Ports Authority, said during a conference yesterday that "the Border Ports Authority has completed the administrative procedures and official recognition of this crossing since 2020."

Opening An Outlet

He added, "The current government and the House of Representatives were determined to open the crossing as soon as possible.

" Al-Waili expressed his "thanks to the Kingdom of Saudi Arabia and its ambassador to Iraq, who had a great desire to personally attend this place, and that all state institutions, agencies and ministries are looking forward to opening the crossing," announcing "the imminent opening of the border crossing, which will positively reflect on trade and economic exchange between Iraq and Saudi Arabia."

The current government is moving to open new windows that support the national economy and expand foreign trade routes in line with the regional openness plans it is adopting during the current phase. Meanwhile, the General Company for Iraqi Ports has achieved revenues exceeding 630 billion dinars.

The company's general manager, Farhan Al-Fartousi, said in a statement yesterday that "total revenues for the first half of the current year amounted to 630 billion dinars, a clear increase compared to last year's revenues, which amounted to more than 486 billion dinars," stressing that "these figures reflect the increasing performance and operational efficiency of Iraqi ports."

He went on to say that "the northern Umm Qasr port topped the ports by achieving revenues of more than 288 billion dinars, followed by Khor Al-Zubair port with 125 billion dinars, then Basra oil port with revenues of nearly 138 billion dinars.

The southern Umm Qasr port also recorded revenues exceeding 56 billion dinars, while Abu Flus port revenues amounted to more than 3 billion dinars, and Al-Maqal port about 11 million dinars. As for administrative and service activity at the company's headquarters, it achieved revenues exceeding 18 billion dinars," indicating that "these revenues came as a result of administrative reforms and operational expansion implemented by the company as part of its strategic plan," and he pointed out that "Iraqi ports are currently witnessing an increasing momentum in import movement." And exports, supported by operational stability, improving the investment environment, and concluding operational contracts with specialized companies.

Meanwhile, the Ministry of Transport announced its plan to transport pilgrims to and from Karbala during the Arbaeen pilgrimage, noting that more than 850 buses have been allocated to serve pilgrims inside and outside the city of Karbala.

Ministry spokesman Maitham Al-Safi said, “A committee or operations room was formed under the direction of the former Minister of Transport, headed by the Undersecretary of the Ministry for Administrative Affairs, to manage the Arbaeen pilgrimage file.”

He continued, “The Ministry usually allocates a number of buses each season, consisting of more than 650 red single-decker and double-decker buses, and more than 200 blue buses.”

Multiple Axes

He stressed that (the blue buses will be designated for transportation between governorates, while the red buses will operate within the city of Karbala), pointing out that (this process is taking place along multiple axes determined by the Supreme Committee for the Arbaeen Pilgrimage, as there is a full fleet of buses to cover the transportation of visitors).

The Minister of Interior, Chairman of the Security Committee for the Million-Man Pilgrimage, Abdul Amir Al-Shammari, had previously inspected the Shalamcheh border crossing to see its readiness to receive visitors.

Yesterday's statement said that (Al-Shammari arrived at the Shalamcheh border crossing to see the preparations underway at this crossing to receive visitors of Arbaeen of Imam Hussein, peace be upon him, the services provided to them, facilitating their entry procedures into Iraq and providing a suitable atmosphere for all arrivals). LINK

Iraq Intends To Increase Majnoon Oil Field Production To 400,000 Barrels Per Day.

Energy  Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani announced on Saturday that the ministry intends to increase crude oil production from the Majnoon oilfields in southern Iraq to 400,000 barrels per day by the end of this year.

This came during his visit to the DS2 station in the Majnoon field, where he reviewed the implementation phases of the vital project, which began in 2018 following its receipt by the Basra Oil Company. The project currently stands at more than 85% completion, according to a statement issued by the company.

The statement quoted the minister as saying: "Completion of the station by the end of this year will increase the Majnoon field's production capacity to 400,000 barrels per day." He added: "However, actual production remains linked to OPEC's quota and Iraq's share, as it currently stands at 120,000 barrels per day."

He pointed out the importance of the station's complementary projects, particularly the connection of wet oil units designed to accommodate oil with a high reservoir water content, stressing that this step enhances production efficiency and sustainability.

The Majnoon field is one of the key fields feeding Total's gas projects. Gas will be collected from this station and pumped to the Artawi site, where the main processing plant will be installed. https://economy-news.net/content.php?id=57602

Barzani Discusses With Washington The Resumption Of The Region's Oil Exports.

July 19, 2025  Erbil - Farid Hassan  Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani discussed the general situation in Iraq and the region with the Chargé d'Affaires of the US Embassy in Iraq, Ambassador Steven Fagin, a statement received by Al-Zaman yesterday said that "the meeting that brought them together in Erbil discussed ways to strengthen bilateral relations and the general situation in Iraq and the region."

 The two sides agreed on "the need for the federal government to send salaries and financial dues to the region as soon as possible. They also stressed the importance of expediting the process of resuming the region's oil exports through the Turkish port of Ceyhan.

" The statement added that "the meeting addressed the sabotage attacks targeting oil fields and energy infrastructure in the region with drones," stressing "the importance of forming the new ministerial cabinet of the regional government before holding parliamentary elections.

" Barzani expressed his "thanks to the United States for its continued support for the region." For his part, Fagin affirmed "his country's support for the federal entity of Kurdistan and its support for a strong region."   LINK

Gold Prices Rise In Baghdad And Erbil Markets.
Saturday, July 19, 2025, 12:10 PM | Economic...Number of reads: 194   Baghdad / NINA / The prices of foreign and Iraqi gold rose in the local markets of Baghdad and Erbil, on Saturday.

The selling prices of gold, in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, for one Mithqal of 21 karat Gulf, Turkish and European gold, were recorded at 660 thousand dinars, and the purchase price was 656 thousand dinars.

The selling price of one Mithqal of 21 karat Iraqi gold was recorded at 630 thousand dinars, and the purchase price was 626 thousand.

As for the prices of gold in goldsmiths, the selling price of one Mithqal of 21 karat Gulf gold ranges between 660 thousand and 670 thousand dinars, and the selling price of one Mithqal of Iraqi gold is between 630 thousand and 640 thousand dinars.

As for gold prices in Erbil, they also recorded an increase, as 22 karat gold was sold for 690 thousand dinars, 21 karat gold was sold for 658 thousand dinars, and 18 karat gold was sold for 564 thousand dinars. / End   https://ninanews.com/Website/News/Details?key=1241673

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 7-19-25

Good Afternoon Dinar Recaps,

U.S. Targets Brazil’s Digital Economy: Pix Under Scrutiny Amid BRICS Currency Push

Trump Administration Launches Probe Into Brazil’s Fintech Ecosystem and Trade Practices

In a bold escalation of trade tensions, the United States has launched a formal investigation into Brazil’s digital payment system, placing particular focus on Pix—the country’s central bank-run instant payment platform. The probe comes amid rising concerns in Washington over BRICS economic integration and the growing challenge to U.S. financial dominance.

Pix: A Fintech Powerhouse Redefining Brazil’s Economy

Launched in 2020 by Brazil’s Central Bank, Pix has quickly become one of the world’s most successful government-backed payment systems. The platform enables instant, 24/7 money transfers at little to no cost, bypassing traditional card networks and allowing direct mobile-based transactions.

• Over 150 million users

• Accepted by more than 60 million businesses

• Dominant across sectors, from street vendors to utilities

Pix has not only transformed domestic commerce but also disrupted foreign competitors, including Visa, Mastercard, and U.S.-based fintech firms.

Trade Investigation Details: Favoritism and Free Speech Issues at Center

U.S. Trade Representative Jamieson Greer announced the investigation Tuesday, citing concerns over:

• Preferential treatment toward Brazil’s regional trade partners

• Non-tariff barriers disadvantaging U.S. exporters

• Digital market discrimination, particularly through policies that limit U.S. tech firms

One key flashpoint: Brazil’s Supreme Court suspension of X (formerly Twitter) in 2024, after Elon Musk refused to comply with censorship demands. The U.S. probe will assess whether such policies constitute discriminatory digital trade practices.

Trump Responds: Tariffs and Warnings Over BRICS Coordination

The investigation is part of a broader geopolitical and economic conflict. On July 7, President Donald Trump publicly urged Brazil to end its prosecution of former President Jair Bolsonaro, calling it a “witch hunt.” Days later, he announced a 50% tariff on Brazilian imports, effective August 1, and warned of the impending trade probe in a letter to President Lula da Silva.

Pix in the Global Spotlight: U.S. Concerns Extend Beyond Brazil

Though Pix operates only within Brazil, its integration with blockchain fintech services is gaining international attention.

Services like Truther now allow global stablecoin transfers to be settled instantly into Brazilian bank accounts via Pix—effectively bypassing SWIFT, PayPal, and U.S. remittance giants like Western Union.

This innovation threatens to undermine U.S. financial influence in developing economies and plays into broader BRICS strategies for de-dollarization.

BRICS Pay, Reserve Currency, and U.S. Response

At the heart of U.S. concerns is Brazil’s role in BRICS, the growing economic alliance with Russia, India, China, and South Africa. In 2024, the bloc launched BRICS Pay, a cross-border settlement platform aimed at bypassing Western systems like SWIFT and facilitating local-currency transactions.

Moreover, BRICS leaders recently revived plans for a joint reserve currency, potentially replacing the U.S. dollar in cross-border trade among member nations.

These moves have drawn intense scrutiny from Washington, with Trump signaling a tougher stance on any country participating in what he views as a threat to U.S. economic sovereignty.

@ Newshounds News™
Source: Cointelegraph

~~~~~~~~~

Targeting BRICS: US-NATO Sanctions Weaponize Energy to Pressure China and India

Sanctions Expand Beyond Russia—Geopolitical Tensions Grow Over BRICS Energy Independence and Arms Markets

A new phase of geopolitical pressure is unfolding as the U.S. and NATO intensify sanctions aimed at the BRICS alliance—specifically by targeting Russian oil exports and BRICS energy trade routes. What appears on the surface as energy policy is increasingly being interpreted as a deeper strategic effort to undermine BRICS cooperation and redirect global arms and trade flows in the West’s favor.

Energy Sanctions as Economic Weaponry

NATO Secretary General Mark Rutte recently issued an ultimatum calling on nations—especially India, Brazil, and China—to halt purchases of Russian oil. This warning comes in tandem with a Trump-backed threat to impose 100% tariffs on countries that continue to import Russian crude.

• Russia accounts for ~15% of global oil exports

• China and India are major importers of discounted Russian energy

• BRICS energy trade is seen as a linchpin of the bloc’s economic independence

Rutte’s statement notably excluded Turkey, a NATO member and the third-largest importer of Russian crude, raising questions about the selective nature of the sanctions and their true geopolitical motive.

Strategic Goals: Sanctions and Western Arms Sales

While oil sanctions dominate the headlines, defense economics is a major subtext of this policy. Western leaders appear to be using energy restrictions as a tool to:

• Disrupt BRICS trade infrastructure

• Open new arms sales markets across politically pressured regions

• Reassert Western dominance in global energy and military supply chains

Even as energy restrictions tighten, Europe continues to source 19% of its natural gas from Russia, revealing the fragile balance between ideology and economic necessity. Analysts predict that a hard blockade on Russian crude would raise oil prices by 20–30%, potentially backfiring on global markets.

Market Reaction: Muted But Calculated

Despite the aggressive tone of U.S. and NATO policymakers, stock markets have shown little concern. This suggests investors see limited long-term enforcement or question the practical viability of isolating Russian energy at scale—especially when global demand remains strong.

At $68 per barrel, oil prices remain sensitive to disruptions, and any supply reduction could cause ripple effects, not only in BRICS nations but in Western economies too.

BRICS Pushes Back, Strengthens Internal Trade Channels

Russia and China have rejected the sanctions outright, reaffirming their commitment to uninterrupted bilateral trade. India has likewise continued oil purchases, resisting external pressure. Brazil, now under scrutiny from both U.S. trade officials and NATO figures, is quietly expanding internal financial networks and exploring alternative settlement systems.

This BRICS resistance signals a long-term effort to build energy resilience and decouple from Western financial levers, including the SWIFT system and U.S. dollar settlements.

A Geopolitical Playbook Beyond Energy

While oil dominates the narrative, Trump’s broader strategy seems to focus on:

• Testing BRICS unity

• Disrupting key China–India trade routes

• Expanding Western military-industrial influence

These moves reflect a multi-domain approach—leveraging sanctions not just to enforce political compliance, but to reshape global economic alignments in favor of the U.S. and NATO.

Analysts warn that continued use of sanctions as a geopolitical lever may accelerate the BRICS bloc’s shift toward alternative institutions, deepening their commitment to independent trade, digital currency systems, and non-Western governance models.

@ Newshounds News™
Source: Watcher.Guru   

~~~~~~~~~

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“Tidbits From TNT” Saturday 7-19-2025

TNT:

Tishwash:  Parliamentary Finance Committee: OPEC informed SOMO that 280,000 barrels smuggled from the region are counted against Iraq's share. 

The head of the Parliamentary Finance Committee, MP Atwan al-Atwani, confirmed on Friday that OPEC informed the State Oil Marketing Organization (SOMO) that approximately 280,000 barrels of oil smuggled daily from the Kurdistan Region are counted as part of Iraq's quota. 

Al-Atwani said in a televised interview followed by ( IQ ): "The region is smuggling oil and exporting about 280,000 barrels per day in an undeclared manner. A message arrived from OPEC to SOMO stating: 'We are receiving oil from your side. It is true that it is not in your name, but it is your oil.' It is estimated at about 280,000 barrels per day." 

The MP pointed out that "our share has been reduced. We are now exporting about 3.2 million barrels per day, but this smuggled oil from the region is counted within the amount allocated to Iraq, and therefore is considered part of the revenue reduction  link

Tishwash:  Iraqi Cabinet Approves Measures on Kurdish Oil Delivery

The Iraqi Cabinet, headed by Prime Minister Mohammed Shia Al-Sudani, held an emergency session on Thursday and issued a series of binding decisions regarding oil production and financial coordination with the Kurdistan Regional Government (KRG).

In a major development, the Cabinet approved the immediate transfer of all oil produced in the Kurdistan Region to Iraq's State Oil Marketing Organization (SOMO) for export. The federal government will provide the KRG with an advance of $16 per barrel (in-kind or in cash), based on a minimum delivery of 230,000 barrels per day (bpd), with any additional production to be included under the same mechanism.

Current production stands at 280,000 bpd, of which 50,000 bpd is reserved for local consumption within the Region. The remaining 230,000 bpd, along with any future increases, will be delivered to SOMO. Should exports stop for any reason, the KRG must deliver the full quantity to the Federal Ministry of Oil instead.

The KRG will also be responsible for the production and transport costs of the 50,000 bpd used locally, while revenues from sales of refined products will be transferred to the federal treasury after deducting those costs.

Additional financial decisions included:

The KRG must deliver 120 billion Iraqi dinars as a preliminary estimate of May's non-oil revenue share.

A joint auditing team will verify and classify non-oil revenues from May 2025 onward.

A new joint committee will oversee the localisation of salaries in the Region within three months, as required by a federal court ruling.

A separate team will assess any excess in actual spending relative to the KRG's budget share for 2023-2025.

May salaries for KRG employees will be disbursed after SOMO confirms receipt of the 230,000 bpd via the Ceyhan terminal.

All timelines specified in this resolution are effective from the date of the Cabinet's approval.  link

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

Tishwash:  Al-Lami: The federal government's decision regarding the region's oil is a victory for the constitution and a step toward justice and transparency.

MP Ali Saadoun Al-Lami praised the recent Cabinet decision regarding Kurdistan Region salaries, stressing that the decision represents a "historic step toward establishing the principle of fairness in the distribution of national wealth."

Al-Lami explained in an interview with “Jarida Platform” that “the decision stipulates that the region hand over its entire oil production to the federal state oil company (SOMO), specifying precise quantities for receipt and export, and canceling any illegal exceptions previously granted, in addition to obligating the region to pay its share of non-oil revenues.”

He pointed out that "the decision also includes the formation of federal committees specialized in monitoring, auditing, and localizing spending and salaries, and linking the disbursement of salaries to the regional government's full commitment to delivering oil."

Al-Lami added, "We in the House of Representatives consider this step a victory for the constitution, and we affirm our full support for the government in implementing the decision in all its details without any compromise, in order to preserve the rights of the people of the south and center, who have long suffered from the lack of justice in the distribution of wealth."

He concluded his statement by stressing that Parliament will have an effective oversight role to accurately monitor the implementation stages, ensuring the rights of all Iraqis without exception are protected.  link

Mot: ..... This is True!!! -- a ole ""Mot"" Marital Test Thingy!!!! 

Mot:  ... I Needs a HUG!!!! 

MilitiaMan and Crew: Iraq Dinar News-Dinar, Oil Salaries & Financial Legislation-

MilitiaMan and Crew:  Iraq Dinar News-Dinar, Oil Salaries & Financial Legislation-

7-18-2025

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

In this insightful video, we delve into the current economic landscape of Iraq, focusing on the crucial topics surrounding the Iraqi Dinar and the latest developments in Erbil and Baghdad.

We explore the recent cabinet decisions regarding oil salaries and how these decisions are impacting cash liquidity within the Central Bank of Iraq.

 Join us as we discuss the significance of the Baghdad-Erbil relationship in paving the way for new oil legislation aimed at stabilizing the economy.

We’ll also touch on the implications for non-oil imports and how they play a role in Iraq’s financial stability. Additionally, we will cover the anticipated visit of the Finance Minister to Erbil this Sunday and what it means for future financial strategies between the Kurdistan Region and the federal government.

 Whether you're an investor, an economist, or simply curious about Iraq's economic future, this video will provide you with a comprehensive overview of the current situation and what lies ahead.

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

Iraq Economic News and Points To Ponder Saturday Morning 7-19-25

Exchange Rate Arrangement 
 
Iraq’s de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement.   The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange rate policy. 

Effective February 8, 2023, the official exchange rate was set at ID 1,320 according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq).

There has been a change to Iraq’s exchange system since the last Article IV Consultation. 

Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 
but no longer maintains any restrictions under this provision. 

Iraq does not maintain any current account exchange restrictions or MCPs. 

Starting January 2025, all international transactions have been routed through commercial banks via their correspondent banking relationships (CBRs). 

The Central Bank of Iraq (CBI) replenishes these balances weekly based on foreign exchange demand and conducts audits to ensure that the allocated funds are used in compliance with AML/CFT regulations. 

Private banks are also encouraged to broaden their CBR networks, particularly with non-U.S. financial institutions.
 
FUND RELATIONS   (As of April 7, 2025)  page 2 

https://www.imf.org/-/media/Files/Publications/CR/2025/English/1irqea2025001-source-pdf.ashx

Advisor To The Prime Minister: Economic And Disciplinary Factors Behind The Stability Of The Exchange Rate And The Decline Of Dollarization
 
Time: 2025/07/17 13:55:21 Reads: 750 Times  {Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih,  confirmed that the
     decline in the "dollarization" phenomenon and the
     stability of the Iraqi dinar exchange rate
are due to a combination of decisive economic and disciplinary factors.
 
Saleh explained in a statement to Al Furat News Agency that "the disciplinary factors included 
 tightening controls on the use of the dollar in domestic transactions and  completely prohibiting its use in local settlements and payments, in accordance with the law.

He pointed out that these measures included bank deposit mechanisms for real estate transactions,
which had previously been the focus of demand for cash dollars,  and which the dinar had replaced with remarkable success.

He noted that this success is credited to the Central Bank of Iraq and its monetary policy, despite the criticism it has faced. Saleh added that the exchange rates in the parallel market would have been in line with the official markets had it not been for the recent geopolitical tensions in the Middle East, which caused a difference of 142 dinars per dollar."

The financial advisor explained that
 
Financing Foreign Trade and Monetary Enhancing Mechanisms
 
"one of the most important success factors that led to the decline in the strength of the parallel market was the direct financing of foreign trade for small traders from official dollar outlets at a rate of 1,320 dinars per dollar,   without the need for intermediaries.

 He pointed out that imports by small traders constitute more than 50% of the total foreign market trade in Iraq."
 
Saleh did not neglect to point out that the mechanisms for strengthening Iraqi banks' foreign currency reserves with correspondent banks have become easier as an alternative to the Central Bank's window and previous platforms,
 
which were abolished at the beginning of the year. He emphasized that these mechanisms have proven successful in dominating the official exchange market as a whole in foreign transfer transactions at the fixed exchange rate of 1,320 dinars per dollar.
 
Trade Policy and the Use of Electronic Payments
 
Saleh also emphasized  the role of trade policy, which intervened for the first time by opening giant shopping centers and expanding in this direction (hypermarkets),
 
describing it as a "price defense policy in favor of the official exchange rate," and weakening market demand for financing some of its trade from the parallel market, which has become "highly expensive."
 
Finally, the financial advisor noted the growing trend among the public toward the widespread use of electronic payment cards funded at the official exchange rate (1,320 dinars), which has become "one of the modern travel customs and traditions in Iraq."  

He added that travelers now receive a share of cash dollars when traveling, according to very transparent and strict controls.    
  
https://alforatnews.iq/news/مستشار-رئيس-الوزراء-عوامل-اقتصادية-وانضباطية-وراء-استقرار-سعر-الصرف-وتراجع-الدولرة  

Has The Central Bank Destroyed The Private Banking Sector In Iraq Forever?
 
A dysfunctional banking sector in an oil country  July 17, 2025 Last updated: July 17, 2025
 
Al-Mustaqilla / Investigative Report / - Although Iraq possesses vast oil wealth, its banking sector remains primitive, lacking depth and reliability.  This is clearly demonstrated by the weakness of financial inclusion,  with only 19% of citizens owning a bank account,  one of the lowest rates in the region.

This weakness reflects a profound structural flaw in the relationship between citizens and banks and 
raises fundamental questions about the effectiveness of  monetary policies and  banking supervision
in Iraq.
 
Controversial Monetary Policies
 
In recent years, the Central Bank of Iraq has pursued erratic monetary policies, most notably uncontrolled monetary expansion.
 
The money supply increased     from 46 trillion dinars     to more than 100 trillion dinars     in just two years,     without corresponding real economic growth.
 
This led to inflation exceeding 7.5%,prompting the Central Bank to raise interest rates to 7.5% before later reducing them to 5.5%, a move that had no tangible impact on the market.
 
Furthermore, a large gap remained between the interest rate on loans,     which exceeds 10%, and 
the interest rate on deposits,  which barely reaches 7%, deepening citizens' reluctance to deposit and weakening banks' ability to provide financing.
 
Out-Of-System Criticism And Loss Of Trust
 
The problem lies not only in policies, but also in the grim reality that the vast majority of cash in circulation is outside the banking system.
 
This massive leakage   weakens banks' ability to perform their role as financial intermediaries and reflects  a genuine crisis of confidence between citizens and banks.
 
Following banking bankruptcy scandals, the     dominance of partisan figures in some private banks,
     declining services, and the  absence of any effective deposit insurance system, citizens have come to view banks as a threat rather than a refuge.
 
Consumer Loans Without Real Development
 
One of the most notable failures is that most of the loans granted by banks in recent years have been  
     directed toward consumption,  not production.
 
Car financing, personal loans, and installments for recreational purposes have gone unmet,
with no real focus on supporting productive projects or small businesses.
 
This has led to increased speculation in the  real estate market and  rising land prices,
without any real production or job creation.  Instead, it has led to population growth and urbanization without a corresponding economic structure.

Government Monopoly And Administrative Laxity
 
The Iraqi banking sector revolves around Rafidain and Rashid Banks, which control most of the sector's assets.
 
However,
     their performance is weak,
     their administrative structures are clearly lax, and
     their branches are not electronically connected and lack a modern technical infrastructure.
 
Meanwhile, the Central Bank has failed to
     develop a strict regulatory framework or
     impose governance on bank boards of directors,
 
allowing small financial institutions to operate outside regulatory control for many years.
 
Currency Window As An Entry Point For Money Laundering
 
One of the most dangerous tools that contributed to undermining the banking system is the foreign exchange window.
 
The central bank sells dollars at the official rate to private banks,
     then resells them on the parallel market at a significant profit margin.
 
This mechanism provided an ideal environment for money laundering and smuggling abroad,
     exploiting
          weak banking oversight and
          duplicate names and documents in transfer requests.
 
Many banks exploited these differences to make illicit profits, and
     some had their licenses later revoked following international intervention.

International Sanctions Indicate A Defect
 
Beginning in 2022, the United States began imposing a ban on a number of Iraqi banks from dealing in dollars due to suspicions of suspicious transfers and money laundering.
 
The list was later expanded to include new banks,
     disrupting a significant portion of foreign trade and remittance operations and
     negatively impacting the Central Bank of Iraq's credibility with international institutions and correspondent banks.
 
Banking Licenses Without Clear Controls
 
In recent years, the Central Bank of Iraq has granted unprecedented numbers of new banking licenses,
     bringing the number of private banks to over 70,
     without any economic justification or genuine assessment of market needs.
 
This quantitative expansion has come
     at the expense of quality and oversight,
     contributing to the fragmentation of the banking market and the
     creation of fragile entities, both financially and administratively weak,
often exploited as fronts for partisan agendas or foreign interests.
 
Negligence Of Banking Sovereignty
 
Although the Private Banking Law clearly sets a maximum foreign ownership limit in Iraqi banks,
     not exceeding 25%,  the Central Bank has unjustifiably overlooked this restriction.
 
Foreign financial institutions have been allowed to own significant stakes in a number of banks,
     either directly or through local front companies.
 
This has
     led to an imbalance in the ownership structure and
     created external financial dependency that
     threatens Iraq's economic decision-making and
     undermines the independence of the national banking system.
 
Bleeding Profits Abroad Without Investment
 
In a dangerous precedent, the Central Bank allowed bank managements—most of which are owned by foreign institutions—to transfer more than 75% of their annual profits abroad in the form of dividends, without requiring them to reinvest a portion of these profits within the Iraqi market.
 
This behavior
     violates the most basic rules of development banking and
     should have been countered by clear measures
          compelling these banks to
          develop their services,
          strengthen their capital, or
          contribute to national investment projects, 
rather than becoming mere channels for transferring hard currency abroad.
 

Urgent International Advice For Reform
 
Several international institutions, including the  US Treasury, the     International Monetary Fund, and the     World Bank,  have made clear recommendations.
 
Prominent among them are:
     stricter compliance with anti-money laundering and counter-terrorism financing laws,
     enhanced transparency in dollar transactions,
     strengthened internal and external oversight of banks,
     reviewed asset quality, and      modernized the sector's digital infrastructure.
 
These institutions also called for raising minimum bank capital and merging or liquidating distressed banks  to create a more robust system.
 
Direct Responsibility Of The Central Bank
 
The Central Bank is not only a neutral supervisory body; it is also a genuine partner in the crisis.
 
It has
     allowed the currency window to continue despite its risks,
     failed to require banks to adhere to international governance standards,
     been lax in enforcing controls on foreign ownership, and
     failed to establish an effective legislative framework to protect depositors or regulate the banking structure.
 
Its responsibility is not merely technical, but also ethical and institutional in the face of an economy being drained.
 
The Opportunity For Reform Still Exists.
 
Despite the bleak outlook, there is still a chance to save the Iraqi banking system.
 
This requires
     political and professional will, beginning with legislative reform,
     imposing strict oversight,
     enhancing  transparency, and
     cooperating with international institutions to restore confidence.
 
There can be no real development without a strong banking sector,
     and no successful banking sector without an   independent and effective central bank that understands that it   is not just a guardian of liquidity,  but also a stabilizing force.      
https://mustaqila.com/القطاع-المصرفي/  

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 7-19-25

Good Morning Dinar Recaps,

SEC Chair Paul Atkins Backs Tokenized Future, Signals Break from Gensler-Era Crypto Crackdown

SEC Shifts Toward Innovation: Tokenization, Stablecoins, and Digital Asset Reform

The U.S. Securities and Exchange Commission (SEC), under Chair Paul Atkins, is embracing a major strategic pivot—moving from regulatory enforcement to innovation—as digital assets and tokenized finance redefine global markets.

Atkins’ vision includes a proposed “innovation exemption” designed to promote tokenized securities, ease trading restrictions, and accelerate blockchain adoption. This shift comes as Congress passes the GENIUS Act, creating a federal framework for stablecoins and confirming crypto’s place in the U.S. financial future.

Tokenization Gains Momentum as SEC Launches Innovation Exemption

Atkins is leading the SEC to encourage tokenization by reducing regulatory burdens. The innovation exemption would:

• Enable early-stage digital platforms to operate with limited regulatory relief

• Encourage on-chain asset movement while maintaining investor protections

• Support a future where, as Atkins puts it, “if something can be tokenized, it will be.”

This marks a clear departure from the Gensler-era enforcement-first approach, aiming instead to create a flexible regulatory path for blockchain-native financial infrastructure.

Stablecoins Enter the Regulatory Mainstream Under the GENIUS Act

The newly passed GENIUS Act—“Guiding and Establishing National Innovation for US Stablecoins”—is set to transform stablecoin regulation by:

• Requiring issuers to back tokens with short-term U.S. Treasuries or similarly liquid assets

• Clarifying that stablecoins fall under banking authorities, not securities law

• Setting a timeline for implementation within 18 months of President Trump’s expected signature

Analysts project that with legal certainty, the stablecoin market could grow to $3.7 trillion by 2030. The SEC has expressed support, even while remaining focused on ensuring risk mitigation and consumer safeguards.

Post-Gensler SEC Strategy: Regulation Without Roadblocks

Atkins is also poised to revise or reverse several crypto-hostile rules from his predecessor, Gary Gensler. His new strategy includes:

• Reevaluating digital asset custody rules for brokers

• Reclassifying crypto products to better fit emerging structures

• Fostering innovation without sacrificing accountability

This approach aligns with congressional momentum and global market demands. By embracing tokenization, decentralization, and digital frameworks, the SEC hopes to reclaim leadership in financial innovation.

America’s Digital Finance Outlook: A Global Leadership Bid

With legislation, agency reform, and private sector demand all converging, Atkins’ SEC is positioning the U.S. as a global hub for tokenized and decentralized finance. The strategy prioritizes:

• Transparency and market integrity

• Adaptable regulations for blockchain-native assets

• A collaborative approach to balance innovation with investor protection

As the U.S. builds its next-gen financial infrastructure, this could be the beginning of a new era—one where tokenized assets, digital currencies, and smart contracts underpin the financial system.

@ Newshounds News™
Source: CoinCentral

~~~~~~~~~

Ripple CEO Hails GENIUS Act as Historic Fintech Milestone—XRP Positioned for Breakout

GENIUS Act Ushers in New Era for Stablecoins, Institutional Crypto, and Ripple’s Regulatory Standing

Ripple CEO Brad Garlinghouse is calling the GENIUS Act a “truly historic moment” for U.S. fintech and the digital asset industry. With its recent passage in the U.S. Senate, the legislation sets the first comprehensive federal framework for stablecoin regulation—and it may be the clearest signal yet that XRP and Ripple are entering a new phase of legitimacy and growth.

What the GENIUS Act Does

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—championed by bipartisan lawmakers including Senators Gillibrand, Lummis, Scott, and Hagerty—lays out key regulatory provisions for all U.S. dollar-backed stablecoin issuers:

• 1:1 Reserve Backing using U.S. dollars or short-term Treasuries

• Monthly Transparency Reports and Annual Audits

• Stablecoin issuance restricted to regulated financial institutions only

According to Garlinghouse, “For years, crypto companies have asked for clear rules. This is a major step.”

Ripple’s RLUSD Stablecoin Already Fully Compliant

Ripple’s stablecoin, RLUSD, which launched in 2024 and now holds a $470 million market cap, already satisfies all GENIUS Act criteria. Ripple has:

• Over 50 state-level money licenses

• Ongoing partnerships with major financial institutions like BNY Mellon

• Applied for a national bank charter and a Federal Reserve master account, allowing it to hold reserves directly with the Fed

Ripple’s aggressive positioning highlights a strategy to become a central player in compliant stablecoin issuance and cross-border payments.

XRP Set to Benefit as Institutions Re-Evaluate Settlement Options

With over 300 partnerships worldwide, including Mastercard and Standard Chartered, Ripple’s infrastructure is increasingly viewed as institutional-grade. Analysts believe that the XRP Ledger (XRPL) and XRP token will become preferred tools for:

• Cross-border settlements

• Transaction fees within RippleNet

• Acting as liquidity rails for tokenized asset flows

The GENIUS Act removes previous ambiguity about XRP’s role, likely attracting institutional adoption as clarity takes hold.

XRP Market Surge and Outlook: $4–$7 Target in 2025

The market is already responding. As of today, XRP is trading at $3.56, reflecting a 13.43% increase in the past 24 hours and 39.01% over the past week.

Analysts say that if the GENIUS Act passes the House and is signed into law, XRP could see a significant boost in both investor confidence and use-case demand. Many now predict a price range of $4 to $7 by year’s end, especially with the potential approval of XRP-based ETFs.

Ripple’s Regulatory Ascent: From Lawsuits to Leadership

Once embattled by regulatory uncertainty, Ripple now finds itself at the center of a regulated, institutional-grade digital economy. The GENIUS Act could mark the turning point—not just for stablecoins, but for Ripple’s broader mission of modernizing global finance.

@ Newshounds News™
Source: Crypto News Flash

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 7-18-25

UK Government Expands DIGIT Bond Plans, Signals Shift Toward Decentralized Market Infrastructure

In a bold step toward modernizing financial infrastructure, HM Treasury has unveiled a comprehensive digital strategy for wholesale markets, including major new details on the UK’s upcoming DIGIT digital bond and a marked openness to decentralization in traditionally centralized systems.

DIGIT Bond Issuance Gains Clarity

Initially introduced in March, the DIGIT bond is a planned digital government bond issued via distributed ledger technology (DLT) within the UK’s Digital Securities Sandbox. At the time, key structural details were scarce.

Now, HM Treasury has confirmed the following upgrades:

• On-chain settlement capabilities

• Support for over-the-counter (OTC) trades via smart contracts

• Interoperability with traditional financial systems

“The DIGIT bond will remain distinct from the UK’s main debt issuance program and will focus on short-dated securities,” the Treasury clarified.

Notably, the UK joins other financial hubs in building DLT-compatible infrastructure:

• SIX Digital Exchange (Switzerland) was first to integrate DLT with conventional systems in 2022

• HSBC’s Orion platform is embedded in Hong Kong’s Central Moneymarkets Unit (CMU)

• Euroclear has linked its D-FMI platform with its main central securities depository (CSD)

Treasury also aims to explore secondary market integration and collateral mobility, collaborating with industry leaders.

Broader Commitments to Digital Market Reform

While DIGIT is the first pilot, HM Treasury made clear this is part of a much wider transformation agenda.

The UK aims to move “beyond testing tokenized asset solutions” and into real-world deployment and scale.

The strategy emphasizes:

• Regulatory frameworks to support DLT adoption

• Cross-sector implementation of DLT infrastructure

• Scalable applications of tokenized financial instruments

A key policy shift involves stablecoin inclusion in the Digital Securities Sandbox. While stablecoins are not yet formally approved for settlement, the Treasury signaled openness to their eventual integration, potentially alongside tokenized deposits.

A Decentralized Vision for the Future

Perhaps the most groundbreaking policy stance was found in one paragraph of the Treasury’s strategy paper:

“The UK should be open to completely new models across the various wholesale market activities, including payments, trading, clearing, settlement, and reporting. It should be open to different technological solutions, including solutions that decentralise functions currently performed by centralised entities.”

This statement marks a paradigm shift from traditional market architecture, indicating a potential replacement of centralised functions—such as clearing houses or settlement networks—with DLT-based alternatives.

Digital Markets Champion to Lead Industry Coordination

To drive the initiative forward, HM Treasury will appoint a Digital Markets Champion, tasked with:

• Coordinating private sector innovation

• Overseeing integration of DLT, automation, and AI

• Ensuring regulatory alignment across sectors

The role reflects the UK government’s goal of becoming a global leader in digital finance infrastructure, with a focus on practical, scalable solutions beyond experimentation.

Conclusion

With the expanded DIGIT bond strategy and its broader market commitments, the UK is positioning itself as a trailblazer in regulated digital finance. The move to embrace decentralized models and real-world DLT deployment may reshape wholesale financial markets and set the tone for global adoption.

@ Newshounds News™
Source: Ledger Insights   

~~~~~~~~~

The Mighty BRICS Folds Under Pressure

The once defiant BRICS alliance—known for its bold push toward de-dollarization—appears to be retreating under renewed pressure from President Donald Trump. The coalition, which had previously challenged U.S. financial dominance by promoting local currency settlements and proposing a new BRICS currency, is now showing signs of internal division and strategic hesitation.

From De-Dollarization to Defensive Diplomacy

Under President Joe Biden, BRICS grew emboldened, with leaders openly advocating for:

• Trade settlements in local currencies

• A move away from U.S. dollar dominance

• Development of a joint BRICS currency

These actions were seen as the foundation of a new global financial order, especially in the developing world. But with Donald Trump’s return to global influence, the tone has shifted dramatically.

A renewed Trump administration threat—blanket tariffs on BRICS exports and up to 200% on pharmaceuticals—appears to have fractured the alliance's momentum.

Tariff Threats Trigger Internal Rift

President Trump’s aggressive tariff agenda has effectively splintered BRICS into two camps:

• Russia, China, and Iran appear ready to confront U.S. economic retaliation

• India, South Africa, and the UAE have shown signs of re-engagement with Washington

The unity once displayed at BRICS summits has eroded as countries weigh economic survival against ideological alignment.

“All it took was a threat from Trump… and the mighty BRICS folded under pressure.”

The BRICS Currency: A Stalled Project

At the 2024 BRICS summit in Kazan, Russian President Vladimir Putin displayed a mock-up BRICS currency bill—a symbolic gesture intended to showcase progress on an alternative global reserve.

However, by the 2025 summit, the idea of a common currency was conspicuously absent. No mention of de-dollarization. No updates on currency integration.

Despite earlier momentum, the proposed BRICS currency now appears to be a distant dream.

Strategic Backtracking or Tactical Pause?

• BRICS members have entered direct talks with the White House, reportedly requesting tariff reductions

• The alliance has avoided provoking further U.S. backlash, mindful of how critical exports—particularly pharmaceuticals, energy, and industrial metals—remain to their economies

Emerging economies like India and South Africa now face a diplomatic balancing act, trying to preserve gains in GDP growth while avoiding economic confrontation with Washington.

A Failed Litmus Test?

What was once billed as a geopolitical counterweight to U.S.-led financial hegemony is now navigating a fragile truce.

The BRICS bloc, once hailed as a rising global force, has “failed to survive the litmus test initiated by Trump.”

With the 2026 summit on the horizon and a U.S. election year already stirring market volatility, the BRICS alliance may need to rethink its strategy—or risk further disintegration in the face of U.S. trade pressure.

@ Newshounds News™
Source: Watcher.Guru   

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Friday Morning 7-18-25

GENIUS Act Heads to Trump’s Desk: Here’s What Will Change

The U.S. is on the verge of enacting its first comprehensive stablecoin regulation. The GENIUS Act—short for Guiding and Establishing National Innovation for US Stablecoins—has passed both chambers of Congress and now awaits President Donald Trump’s signature, expected Friday at 2:30 PM during a formal signing ceremony in Washington, DC.

The bill is poised to transform how stablecoins operate in the U.S., creating new rules for issuers, mandating transparency in reserves, and reshaping DeFi and yield offerings.

When Will the Law Take Effect?

• 18 months after Trump signs it, or

• 120 days after federal regulators (including the Treasury and Federal Reserve) publish final implementation rules

1. Stablecoin Issuers May Seek Banking Licenses

Legal experts say the bill creates strong incentives for stablecoin issuers to become banks.

“Pretty much every stablecoin issuer in the U.S. right now engages in activities outside the scope of the GENIUS license,” said Logan Payne, crypto attorney at Winston & Strawn.

The new GENIUS license permits only pure stablecoin issuance, pushing firms to seek national trust bank charters from the Office of the Comptroller of the Currency (OCC)—as Circle and Ripple have already done—allowing them broader operating authority without needing state-by-state money transmission licenses.

2. Stablecoin Interest and Yield Will Be Banned

One of the most controversial provisions of the bill is a ban on paying interest or yield to stablecoin holders—whether foreign or U.S.-regulated.

• This could eliminate rewards offered by stablecoins like USDC, which currently pays yield through platforms like Coinbase and Kraken

• Payne warns that many current reward models will be “modified or discontinued”

This change is expected to reshape user incentives across centralized platforms and impact DeFi integrations reliant on interest-bearing stablecoins.

3. DeFi Faces Uncertainty

The GENIUS Act leaves decentralized finance (DeFi) largely unaddressed—for now.

“How GENIUS will impact DeFi is intentionally a bit unaddressed,” Payne said, adding that further regulation will likely arrive alongside future bills like the CLARITY Act, which aims to define digital asset classes and regulatory jurisdiction.

Expect “a lot of uncertainty” for DeFi platforms as the legal landscape evolves over the next few years.

4. Mandatory Monthly Reserve Reports

All approved issuers must maintain 1:1 reserves backing their stablecoins, consisting of:

• U.S. dollars or equivalents (e.g., Treasury bills)

• Reserve composition must be publicly disclosed

• Reports must be audited by a registered public accounting firm

• Issuers must certify reserve accuracy to their regulators

These transparency requirements aim to prevent future collapses like TerraUSD by ensuring full backing and public accountability.

5. Ban on Unlicensed and Non-Compliant Stablecoins

Three years after enactment, the law will ban any stablecoin that:

• Is not issued by a federally or state-approved entity, or

• Cannot comply with GENIUS Act standards

Foreign-issued stablecoins will be exempt only if:

• Their home countries maintain comparable regulatory frameworks, and

• They register with the OCC and hold sufficient U.S. reserves to serve domestic customers

This provision tightens control over stablecoins entering the U.S. market while offering limited pathways to compliance for global players.

6. A New Federal-State Oversight Framework

The GENIUS Act establishes a multi-agency regulatory approach, authorizing banks, credit unions, and nonbanks to issue stablecoins.

Regulatory authority will depend on issuer type:

• Federal Reserve

• Treasury Department

• OCC

• FDIC

• National Credit Union Administration

Entities with under $10 billion in stablecoin circulation may choose state-level regulation—but states are not required to create a stablecoin regulator.

What’s Next?

With the GENIUS Act all but certain to become law, attention turns to the CLARITY Act, which now moves to the Senate. If passed, it would complement the GENIUS framework by defining digital asset classifications and clearly delineating SEC and CFTC oversight.

The passage of both bills would represent the most significant legislative advancement in U.S. crypto policy since the industry's inception.

@ Newshounds News™
Source: Cointelegraph   

~~~~~~~~~

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“Tidbits From TNT” Friday Morning 7-18-2025

TNT:

Tishwash:  Iraq announces resumption of Kurdistan oil exports after more than two years of halt

 The Iraqi government announced on Thursday an agreement to resume crude oil exports from the Kurdistan Region after a halt of more than two years.

The agreement stipulates that the regional government will immediately begin handing over all oil produced from the region's oil fields to the State Oil Marketing Organization (SOMO) for export, with the quantity delivered not being less than 230,000 barrels per day.

The federal Ministry of Finance will pay the regional government $16 per barrel, according to Agence France-Presse.

The Ministry of Oil announced last February the completion of all procedures for exporting oil produced in the Kurdistan Region via the Turkish port of Ceyhan, following a two-year halt due to disputes between Baghdad and Erbil. At the time, the ministry said in a statement that oil exports would be conducted "in accordance with the mechanisms outlined in the budget law and its amendments, and within Iraq's production ceiling set by OPEC."

Türkiye halted the pipeline in March 2023 after the International Chamber of Commerce ordered Ankara to pay $1.5 billion to Baghdad in compensation for unauthorized exports between 2014 and 2018. link

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

Tishwash:  May salaries will be paid, and June salaries will be paid in the coming days. The Council of Ministers approves the memorandum of understanding with Kurdistan. 

The Iraqi Council of Ministers approved the memorandum of understanding signed between Erbil and Baghdad regarding the salaries of employees in the Kurdistan Region.

 Al-Jabal's correspondent in Baghdad reported on Thursday that the Iraqi Council of Ministers approved the memorandum of understanding signed with the Kurdistan Regional Government regarding employee salaries, directing the release of employee salaries for one month.

 The Iraqi Council of Ministers held an extraordinary session, chaired by Council Speaker Mohammed Shia al-Sudani, to discuss the agreement with Kurdistan on salaries.

According to information obtained by this correspondent, approval has been given to disburse salaries to Kurdistan Region employees for May as an initial phase, with June salaries to be disbursed in the coming days. 

He said the extraordinary session was dedicated to discussing this issue. The Kut mall fire was included in the meeting's agenda, and a three-day mourning period was declared in Iraq for the victims.  link

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

Tishwash: Iraq Agrees Oil Plan With Kurdistan as Export Deal Nears

Iraq approved a plan for its semi-autonomous Kurdish region to transfer oil to Baghdad, a key step toward resuming exports that have been halted for more than two years.

The Kurdistan Regional Government will supply Iraq’s state oil marketer SOMO at least 230,000 barrels a day for export, the federal government said after a meeting of the cabinet. On receiving the crude at Turkey’s Mediterranean port of Ceyhan, the export point of Kurdish oil, Baghdad will release funds for salaries of Kurdistan government employees.

The move is the strongest signal yet that a resumption of shipments from Kurdistan to global markets through a pipeline that was halted in March 2023 is near. A final deal would still need contracts with companies in the Kurdish region, which have said exports can only kick off when there’s clarity on compensation, including future payments and past dues.

Also read: Oil Firms in Kurdistan Await Deals as Iraq Nears Export Restart

The Iraq-Kurdistan agreement is “an important milestone toward the resumption of oil exports through the Iraq-Turkey pipeline,” said Myles B. Caggins III, spokesman for the Association of the Petroleum Industry of Kurdistan. The group’s members anticipate additional discussions with the governments “to establish written agreements, prior to resuming exports,” he said.

The companies would also have to bring online fields that were shut this week following a barrage of drone attacks. About 200,000 barrels a day of output has been halted, according to an official in the Kurdistan Regional Government.

The latest steps come just as the Organization of the Petroleum Exporting Countries and its allies have started boosting production quotas, giving some members the room to raise exports. Additional shipments would likely add to a supply surplus forecast for later this year.

Pipeline Closure Halted About 500,000 Barrels a Day of Iraqi Oil Flows

btc-pipeline

Iraq-Ceyhan pipeline​

​The amount of oil that will be handed over to SOMO is based on output of 280,000 barrels a day. Kurdistan will keep 50,000 barrels a day for its own requirements. Any increase in output will result in a higher share going to the federal government, Iraq said in the statement.

As part of the deal, the KRG will also pay 120 billion Iraqi dinar ($92 million) as an initial payment to the federal government as its share of non-oil revenues for May. A panel will be formed to determine the state’s future share.

Lost Revenue

Iraq is OPEC’s second-biggest oil producer, pumping the vast majority of its crude from the south. The country has been keen to increase output in the long-term and boost revenue after years of war and internal strife. The halted Kurdistan exports have resulted in about $25 billion in lost revenue, Kurdistan Regional Government Prime Minister Masrour Barzani said last month.

The pipeline saga started in early 2023 after Turkey halted the link that carried about half a million barrels of oil daily following an arbitration court’s order to pay Iraq $1.5 billion. Ankara had claimed the pipeline was shut because it needed repairs after two massive earthquakes in February that year, but later put the onus on Baghdad to restart operations. But financial and legal disagreements held back the resumption.

In February this year, Iraq’s parliament passed a plan to allow Baghdad to pay oil companies in Kurdistan an initial fee of $16 a barrel for production and transportation, which is higher than what it had proposed paying earlier.

Oil companies including DNO ASA, Genel Energy Plc and Gulf Keystone Petroleum Ltd. operate in the Kurdistan region. link

Mot:  Ooooh Goody!!! -- Get to go out fir Dinner with da Kids!!!!

Mot:  Is it Yet!!!??? -- Wellllllllll -- is it??? 

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 7-17-25

Bank of America Eyes Stablecoins to Help Move Trillions in Client Transactions

Bank of America (BoA) has confirmed that it is actively exploring the use of stablecoins to modernize its payment infrastructure, potentially transforming the way trillions of dollars in client funds are transferred through its systems daily.

During BoA’s Q2 2025 earnings call, CEO Brian Moynihan discussed the bank’s initial strategy around stablecoin integration, revealing that the focus is currently on using stablecoins as a transactional mechanism—a notable shift for one of the world’s largest financial institutions.

“We believe that if they [clients] want to use stablecoins to move part of that money, they’ll move,” Moynihan said, referring to stablecoin rails that facilitate dollar- and euro-based transactions.

From Exploration to Execution

BoA has been researching stablecoin usage since early 2025, with Moynihan reiterating the bank’s readiness to move forward pending regulatory clarity. The institution has reportedly discussed the possibility of joint stablecoin issuance in partnership with JP Morgan and Citigroup.

“We’ve done a lot of work. We’re still trying to figure out how big or small it is… So you’d expect us all to move,” Moynihan noted.

Though the CEO emphasized the exploratory nature of the current effort, he acknowledged stablecoins' potential to streamline financial movement at scale, especially in areas where traditional rails underperform or lack efficiency.

Stablecoin Market Momentum Continues

BoA’s interest comes amid rapid market expansion and a regulatory push to formally define the role of fiat-pegged digital assets in the U.S. financial system:

• Stablecoin transaction volume exceeded those of Visa and Mastercard combined in 2024.

• Total market capitalization has soared to $257 billion, nearly doubling since early 2023.

• Tether (USDT) and Circle’s USDC together account for over 85% of that total.

Industry experts increasingly regard stablecoins as the "default settlement layer" for digital commerce and cross-border financial exchange.

Legislation as a Catalyst: GENIUS Act Faces Delay

The GENIUS Act, a sweeping bill that would establish a federal framework for stablecoin issuance and compliance, has been a key enabler for traditional banks like BoA to move forward. The bill passed the Senate in June with bipartisan support, but encountered a procedural roadblock in the House this week.

Despite the delay, House leadership has signaled that the GENIUS Act could receive a floor vote by Thursday, marking a potential turning point for U.S. banks seeking to enter the stablecoin sector under clear rules.

Mixed Q2 Earnings Amid Strategic Shift

BoA also reported mixed financial results for Q2:

• Net income rose 3% to $7.12 billion, beating expectations.

• Revenue increased 4% to $26.61 billion, though slightly below forecasts.

As competition heats up and stablecoins become central to next-gen finance, Bank of America’s cautious but deliberate entrance into the space signals that the tokenization of traditional banking services is no longer theoretical—it’s underway.

@ Newshounds News™
Source: Cointelegraph

~~~~~~~~~

Tether in Trouble as GENIUS Act Targets USDT — Is a Market Collapse Ahead?

Crypto analyst Jacob King is raising alarms about what he describes as the potential “bloodiest event in Bitcoin’s modern history,” warning that the GENIUS Act could effectively lead to the ban of Tether (USDT) and spark a devastating collapse across the broader crypto market.

The GENIUS Act—currently gaining momentum in Congress—aims to regulate stablecoins, but King claims the legislation puts Tether directly in the crosshairs, threatening the entire structure of Bitcoin liquidity and trading volume.

Tether Printing Sparks Alarm

According to King, Tether’s recent minting of 160 billion USDT is a desperate attempt to inflate Bitcoin and crypto markets artificially. He argues that USDT is being “printed out of thin air” to prop up prices, a criticism that has long dogged Tether amid transparency concerns and accusations of insufficient reserves.

“Without Tether, people will realize how fake everything has been,” King stated.

King suggests that 85–90% of daily Bitcoin volume is dependent on USDT, a metric he argues underscores the fragility of the entire crypto ecosystem.

Institutional Outflows & Insider Moves

Further stoking fears, King cites a surge in ETF outflows this week as evidence that institutions are quietly exiting the market. He contends that major players are shedding Bitcoin positions while retail investors remain largely unaware of what’s happening behind the scenes.

King also accuses Tether insiders of dumping Bitcoin via OTC trades, insulating themselves ahead of what he claims is an inevitable collapse.

GENIUS Act: Regulation, Not a Ban

Despite the ominous outlook, the GENIUS Act does not outright ban Tether. Instead, it provides 18–36 months for existing stablecoin issuers to achieve compliance, offering a regulatory pathway rather than an immediate shutdown.

In fact, market data contradicts King’s thesis:

• ETF flows have shown net inflows, not the “mass exits” King suggests.

• Tether remains the dominant stablecoin, with over $100 billion in circulation, despite persistent scrutiny.

Ripple’s RLUSD and the Future of Stablecoins

As the GENIUS Act advances, new contenders like Ripple’s RLUSD may begin to take market share, particularly as regulatory clarity favors compliant, transparent issuers. If Tether falters under legislative pressure, Ripple’s offering could emerge as a leading alternative for institutional-grade stablecoin use.

Conclusion: Panic or Perspective?

While Jacob King's analysis has ignited debate, his claims—lacking concrete evidence—should be viewed as highly speculative. Still, his warnings highlight the precarious balance in a market heavily reliant on a few centralized stablecoin providers.

The GENIUS Act marks a turning point in U.S. crypto regulation. Whether it ushers in collapse or evolution depends on how both the industry and regulators respond in the months ahead.

@ Newshounds News™
Source: Coinpedia   

~~~~~~~~~

Trump’s Economic Nationalism Escalates, Pressures India and BRICS

President Donald Trump’s aggressive tariff strategy is intensifying economic tensions between the U.S. and the BRICS bloc, particularly India. Trump has announced a blanket 10% tariff on all BRICS member imports, along with a potential 200% levy on pharmaceutical products—a move that could spark a U.S.-India trade war and severely disrupt global supply chains.

Key Developments:

• Trump announces 10% tariff on all BRICS bloc imports

• 200% tariffs proposed on pharmaceutical imports, targeting India’s key export sector

• India exported $9.8 billion in pharmaceuticals to the U.S. in 2024–25, accounting for over 30% of Indian drug exports

• BRICS dollar trade initiatives face rising pressure from U.S. trade protectionism

• Indian copper exports and broader industrial sectors also threatened by tariff escalation

BRICS Under Economic Siege

Trump’s sweeping tariffs are not just economic measures—they represent a symbolic strike against the BRICS alliance, which has grown into a major counterbalance to U.S. economic hegemony. BRICS accounts for 32% of global GDP and over 40% of the world’s population. Many BRICS members are actively working to reduce dependency on the U.S. dollar, a shift that threatens longstanding U.S. advantages in global trade.

According to data from the Office of the United States Trade Representative (USTR), U.S. imports from BRICS nations totaled $886 billion in 2024. A 10% tariff across the board would impose $88 billion in additional duties, potentially slowing BRICS economic growth and disrupting dollar decoupling initiatives. India, a key BRICS member and strategic U.S. partner, is now caught between bloc solidarity and bilateral dependency.India’s Pharmaceutical Sector in the Crosshairs

The proposed 200% tariff on pharmaceutical imports directly targets India’s export strength. In 2024–25, India shipped $9.8 billion in pharmaceuticals to the U.S., a 21% increase year-over-year. These exports account for more than 30% of India’s total drug exports, supplying critical medications across various segments of the American healthcare system.

The tariffs could raise drug prices dramatically, impacting millions of Medicare and Medicaid recipients, especially in high-demand states like Texas, California, and Florida. This cost shock could reshape the political landscape, as vulnerable populations feel the squeeze of U.S. protectionism in the most sensitive area—healthcare.

Strategic Trade War Implications

Trump’s tariff escalation marks a turning point in global trade strategy, especially for India. A proposed 50% tariff on Indian copper exports threatens $360 million of industrial shipments to the U.S., undermining producers in states like Gujarat and Tamil Nadu. The broader $150–200 billion India–U.S. trade proposal now faces deep uncertainty.

India has made clear that it will not offer further concessions, signaling a hardened position in trade negotiations. The economic fallout from these tariffs could accelerate BRICS efforts to bypass the U.S. dollar and deepen intra-bloc cooperation in supply chains, technology, and trade infrastructure.

BRICS May Emerge More United

While the U.S. may be aiming to weaken BRICS influence through punitive trade measures, the effect could be the opposite. Instead of fracturing the alliance, Washington’s economic aggression may galvanize BRICS unity, especially on initiatives like alternative payment systems, blockchain integration, and currency de-dollarization.

India’s delicate position—balancing historic ties with Washington and its growing role within BRICS—could force major diplomatic recalibrations across Asia, Africa, and Latin America.

@ Newshounds News™
Source: Watcher Guru

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