Seeds of Wisdom RV and Economic Updates Thursday Morning 8-7-25

Good morning Dinar Recaps,

U.S. Government Announces ChatGPT Integration Across Federal Agencies

White House-backed initiative positions OpenAI’s ChatGPT as a central tool in America’s bid for AI leadership

The U.S. federal government has officially signed a new agreement with OpenAI to bring an enterprise-level version of ChatGPT into use across all government agencies—marking a major milestone in the nation's AI integration strategy.

The move is part of a broader plan by the Trump administration to make the United States the global capital of artificial intelligence, in line with the White House’s newly released AI Action Plan.

ChatGPT Access for Every Agency—at $1 Each

According to a statement from the General Services Administration (GSA) on Wednesday, the agreement provides every federal agency access to the ChatGPT platform at a nominal rate of $1 per agency. This is intended to fast-track the integration of AI into day-to-day operations, workflows, and decision-making processes across the U.S. government.

The GSA, which oversees federal procurement, emphasized that the agreement:

• Directly supports the White House’s AI Action Plan

• Aims to “modernize federal operations” through artificial intelligence

• Is a strategic public-private partnership aligned with U.S. national interests

The White House’s Three-Pillar AI Strategy

The administration’s AI Action Plan revolves around:

• Developing U.S. AI leadership across both civilian and defense sectors

• Scaling access to AI tools through public-private collaborations

• Building trust and safeguards into AI governance and cybersecurity

The OpenAI deal, government officials say, is a step toward ensuring the United States remains competitive against global powers in AI development and application.

Critics Warn of Dangers: Privacy, Censorship, and Surveillance

Despite the enthusiasm, civil liberties advocates, technologists, and cybersecurity experts are raising red flags. Key concerns include:

• Privacy violations stemming from centralized data collection

• Government censorship via AI-nudged narrative shaping

• Cybersecurity risks involving sensitive federal and military data

• Erosion of civil liberties under automated governance systems

Military Already Expressed Caution with Generative AI

In 2023, the U.S. Space Force temporarily halted the use of generative AI platforms—including ChatGPT—due to national security concerns over data sensitivity.

“AI platforms must overhaul data protection standards before they can be adopted for military use,”
— Lisa Costa, Deputy Chief of Space Operations for Technology and Innovation, U.S. Space Force

Public Backlash Is Not Limited to the U.S.

The ethical and legal ramifications of AI-assisted governance are drawing scrutiny abroad as well. In Sweden, Prime Minister Ulf Kristersson admitted to consulting AI for policy advice—sparking controversy over AI influence on democratic decision-making.

A spokesperson clarified that the AI was not used to handle classified or national security-related matters. Still, the public response reflected growing unease over AI encroachment into public governance.

Data Use and Legal Exposure Remain Unclear

AI systems like ChatGPT ingest vast amounts of user data, including content from conversations, to refine their models. These interactions, when stored on centralized servers, create potential liabilities for users.

“ChatGPT conversations could be used as legal evidence against users,”
— Sam Altman, CEO of OpenAI

Altman emphasized that AI chats lack privacy protections, are not privileged, and are subject to lawful search and seizure.

Bottom Line: Innovation Meets Uncertainty

While the OpenAI–GSA deal marks a watershed moment in U.S. AI strategy, it also exposes unresolved issues around:

• User privacy rights

• Data ownership and legal protection

• Government accountability in AI deployment

As the United States pushes forward to establish itself as the AI capital of the world, the race to modernize may collide with longstanding democratic principles—forcing lawmakers, developers, and citizens alike to confront a new era of algorithmic governance.

@ Newshounds News™
Source:  Cointelegraph

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ICBA to OCC: Reject Ripple’s Bank Application Over Stablecoin and Compliance Issues

The Independent Community Bankers of America (ICBA) has formally petitioned the Office of the Comptroller of the Currency (OCC) to reject Ripple’s application for a national trust bank charter, citing major concerns around RLUSD, Ripple’s proposed U.S. dollar-backed stablecoin.

The ICBA, which represents thousands of small banks across the U.S., argues that the integration of RLUSD into the banking system could siphon deposits from community banks, disrupt financial stability, and weaken regulatory standards.

Key Objections:

• Ripple’s RLUSD stablecoin mimics traditional bank deposits, enabling transfers, purchases, and dollar redemptions—without adhering to the full regulatory requirements that apply to full-service banks.

• Trust banks were designed to fulfill custodial and fiduciary roles, not operate as quasi-commercial banks using stablecoins.

• Ripple’s regulatory history, including violations of BSA/AML/CFT obligations and ongoing legal conflict with the SEC, makes it a risky candidate for a federal charter.

• The OCC’s recent adjustments to trust bank eligibility requirements lack statutory support and could set a dangerous precedent if crypto firms like Ripple are allowed to bypass traditional compliance standards.

ICBA’s Core Arguments:

“The OCC should not allow stablecoin issuers to use the national trust bank charter to benefit from full-service bank-powers without full-service bank-requirements.”

The ICBA underscores that RLUSD, while functionally similar to traditional deposits, falls outside the regulatory umbrella that typically governs insured depository institutions. The group argues this creates a regulatory arbitrage loophole that could:

• Destabilize smaller banks

• Reduce consumer protections

• Undermine trust in the banking sector

Ripple’s Compliance History Under Fire

The ICBA letter highlights Ripple Labs’ past failures to implement Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Counter-Terrorism Financing (CFT) controls. Specific incidents include:

• Regulatory actions taken against XRP II, Ripple’s subsidiary

• The SEC lawsuit, which alleges deliberate and reckless securities law violations

• A pattern of non-compliance that reflects an unwillingness to operate within established legal boundaries

“Ripple also has difficulty complying with securities laws and regulations,” the letter stated, concluding that such conduct should disqualify Ripple from accessing a national trust bank charter.

Call for Stricter Oversight of Crypto-Financial Entities

The ICBA contends that the OCC’s loosening of national trust bank requirements has eroded a critical layer of regulatory protection. It demands:

• Stronger consumer protections

• Stricter eligibility criteria

• Expanded risk oversight

• Targeted enforcement against crypto-focused applicants

The group warns that failure to apply these safeguards could lead to unchecked financial engineering, jeopardizing deposit security, market stability, and public confidence in the financial system.

“Any company that pushes the boundaries of securities law, like Ripple Labs, should not be permitted to use the national trust bank charter,” the letter emphasized.

Conclusion

The ICBA’s public opposition to Ripple’s banking ambitions brings to light the growing tensions between traditional financial institutions and crypto-native firms. As regulatory agencies like the OCC navigate the future of fintech and digital assets, the decision on Ripple’s charter application will serve as a high-stakes precedent for the banking and crypto sectors alike.

@ Newshounds News™
Source:  CoinPedia

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Are $600 Tariff Rebate Checks Coming? Here’s What You Need To Know

Are $600 Tariff Rebate Checks Coming? Here’s What You Need To Know

T. Woods  Wed, August 6, 2025  GOBankingRates

In March of 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law by President Donald Trump. CARES was an economic stimulus package that included one-time cash payments of $1,200 to most Americans to help offset the unprecedented financial impact of the COVID-19 virus. Just over five years later, Trump is once again considering issuing a government check to most Americans, this time in the form of a rebate paid with revenue from his trade tariffs.

Per CNBC, President Trump recently told to reporters that there was a good amount of incoming money from tariffs it could potentially result in rebates — here’s what we know.

Is There a Plan in Action?

In response to this, Senator Josh Hawley (R-MO) has introduced a bill that would issue these tariff rebate checks to Americans in a similar cash disbursement to the CARES payments of 2020, according to his official page. The bill, called the “American Worker Rebate Act of 2025,” would see $600 at minimum sent to American adults and dependent children (or $2,400 for a family of four). That “at minimum” is worth noting, as well — there is a provision in the bill for the payments to be higher than $600 per person if tariff revenue is ultimately higher than expected.

Also worth noting is the fact that the Treasury Department did indeed release a report showing an unexpected surplus in June, one that was helped by tariff revenues of approximately $27 billion — a 301% increase in custom duties from June 2024.

What Are the Potential Implications?

TO READ MORE:  https://www.yahoo.com/finance/news/600-tariff-rebate-checks-coming-090107842.html

MilitiaMan and Crew: IQD News Update-Kurdistan's Oil Export Challenges

MilitiaMan and Crew:  IQD News Update-Kurdistan's Oil Export Challenges

8-6-2025

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

In this provocative video, we dive deep into the complexities surrounding the Iraqi Dinar, the Kurdistan Region's ongoing oil export crisis, and the pressing need for strict measures against the ruling authorities in the region.

As Kurdistan grapples with significant economic challenges, we explore the implications of the recent maritime authority law and its impact on investment projects.

We'll discuss the role of the Integrity Commission in promoting transparency and accountability, and how Iraq's accession to the World Trade Organization could reshape the economic landscape.

 With Erbil (Kurds) facing mounting pressure and a one-week deadline to deliver oil, we analyze the potential consequences of these developments on the broader Iraqi financial system.

It is all about the money.. Where did it go? Join us as we unpack the complexities of customs duties in the KRG, the challenges of oil revenue management, and what the future holds for the Iraqi Dinar.

It looks very strong and bright!

https://www.youtube.com/watch?v=PLWqp_pWJ3c

Iraq Economic News and Points To Ponder Wednesday Afternoon 8-6-25

35 Iraqi Banks Are Under US Sanctions, And "Marsad" Reveals How They Are Imposed.
 
Economy  2025-08-06 | Source: Alsumaria News 2,514 views  Alsumaria News – Economy  The Echo Iraq Observatory, which specializes in economic affairs,  revealed on Wednesday that 35 of the 72 banks operating in Iraq are subject to US sanctions.
 
The observatory stated, in a report received by Sumaria News, that banks operating in Iraq are divided between Iraqi, Arab, and foreign assets, noting thatsanctions imposed by the US Treasury Department on these banks prohibit transactions in dollars. 

He explained that  the latest bank to be sanctioned was the Baghdad International Bank,
 due to a "snitching" by its former managing director. He emphasized that this was done by sending an email to the US Treasury Department, stating the  bank's name,  its illegal dollar transactions, and  its cooperation with banned entities. 

He pointed out that the Central Bank of Iraq responds to these American inquiries, and in the event of a delay or failure to respond, the  US Treasury Department will issue sanctions against the bank in question.      https://www.alsumaria.tv/news/economy/536199/35-مصرفًا-عراقيًا-تحت-العقوبات-الأمريكية-ومرصد-يكشف-عن-طريقة-فرضها    

The Central Bank Of Iraq Confirms The Smooth Operation Of The Bank Of Baghdad.
 
August 06, 2025  The Central Bank of Iraq confirms that the circulating news about the  suspension of dollar transactions at the Bank of Baghdad or the  suspension of its foreign exchange reserves for external remittances is false, as the bank operates normally and smoothly  in accordance with the instructions and regulations followed by the  Central Bank of Iraq.
 
The Bank of Baghdad is considered one of the solid banks with  solvency and  soundness, which has made it an important part of the banking sector.    https://cbi.iq/news/view/2948  

SEE POST    "The Central Bank Denies Suspending Dollar Transactions At The Bank Of Baghdad"

https://www.bondladyscorner.com/t227079-the-central-bank-denies-suspending-dollar-transactions-at-the-bank-of-baghdad

The Central Bank Denies Suspending Dollar Transactions At The Bank Of Baghdad

Wednesday, August 6, 2025, 18:18 | Economic Number of readings: 59  Baghdad / NINA / The Central Bank denied, on Wednesday, the suspension of dealing in dollars in the Bank of Baghdad, or the suspension of its foreign reinforcements for external transfers.

The Central Bank confirmed in a statement: "The news circulating about stopping dealing in dollars in the Bank of Baghdad, or the suspension of its foreign reinforcements for external transfers, is false. The bank is operating normally and smoothly in accordance with the instructions and controls followed by the Central Bank of Iraq."

He explained: "The Bank of Baghdad is one of the solid banks, which made it an important part of the banking sector." / End   https://ninanews.com/Website/News/Details?key=1245025

Oil Minister: Tomorrow We Will Resume Oil Exports Via Ceyhan, Turkey.

Buratha News Agency1702025-08-06   Oil Minister Hayan Abdul Ghani inaugurated a number of oil station development and rehabilitation projects in Kirkuk province on Wednesday, while confirming that today or tomorrow we will resume oil exports via Ceyhan, Turkey. The minister told the official agency, "A number of oil station development and rehabilitation projects have been inaugurated in Kirkuk province," noting that "today or tomorrow we will resume oil exports via Ceyhan, Turkey, as we will export 80,000 barrels per day as a first phase after the agreement with the region."

He added, "We were able to increase production at the wet oil station by 25,600 barrels per day," stressing that "the total capacity of the wet oil station north of Kirkuk has reached 90,000 barrels per day."  https://burathanews.com/arabic/economic/463719

Basra Heavy And Medium Crude Oil Prices Decline

Wednesday, August 6, 2025, 12:39 PM | Economic Number of reads: 171  Baghdad / NINA / Basra crude oil prices fell on Wednesday.  Basra Medium crude oil recorded $69.34 per barrel, while Basra Heavy crude oil recorded $66.29 per barrel, with a change of -1.08 for both.

This decline comes despite the rise in global oil prices, as Brent crude rose by 43 cents, or 0.6%, to reach $68.07 per barrel, and US West Texas Intermediate crude rose by 40 cents, or 0.6%, to reach $65.56 per barrel. / End      https://ninanews.com/Website/News/Details?key=1244957

The Ministry Of Planning Discusses With A UN Team The Draft Framework For Cooperation On Sustainable Development (2025-2029)

Wednesday, August 6, 2025, | Economic Number of readings: 124   Baghdad / NINA / The International Cooperation Department at the Ministry of Planning held a joint meeting on Wednesday, which included representatives of the Ministry of Foreign Affairs and the United Nations team in Iraq, during which the discussion of the draft "Cooperation Framework" document for sustainable development between Iraq and the United Nations for the years (2025-2029) was completed.

Saher Abdul-Kadhim, Director General of the International Cooperation Department, said that "the meeting is part of a series of previous meetings that discussed the observations raised by both sides, with the aim of reaching a unified vision that reflects the national priorities of the Iraqi government and enhances areas of future cooperation with United Nations agencies."

He explained that "the current efforts aim to complete the final version of the document, in preparation for its official ratification and presentation for signature by both sides."

Abdul-Kadhim indicated that "the signing of the document will be based on the decision of the Council of Ministers, which authorized Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, to sign on behalf of the Iraqi government."

He stressed that the "Cooperation Framework" document represents a strategic tool for organizing technical and development cooperation between Iraq and the United Nations, within the country's sustainable development priorities, and in accordance with a development vision consistent with the National Development Plan 2024-2028 and the 2030 Sustainable Development Agenda./End https://ninanews.com/Website/News/Details?key=1245008

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

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-6-25

Good Afternoon Dinar Recaps,

“The Time Is Now”: U.S. Reclaims Leadership Role in Global Crypto Race

White House crypto report, SEC’s Project Crypto, and the GENIUS/CLARITY Acts set stage for regulatory realignment

A new era may be unfolding for U.S. crypto policy as top federal regulators and lawmakers move in concert to reposition the United States as the global leader in digital asset innovation and governance.

The shift was catalyzed by a sweeping White House digital asset strategy report, released last week, calling for interagency alignment and regulatory modernization. Now, with both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) advancing targeted crypto initiatives, and with bipartisan legislation gaining momentum, the U.S. crypto sector appears headed for a long-awaited regulatory breakthrough.

CCI: U.S. Reclaiming the Lead

Ji Hun Kim, newly appointed CEO of the Crypto Council for Innovation (CCI), hailed the White House’s report as a “pivotal” moment in restoring America’s strategic position in the global digital economy.

“The time is now for the U.S. to lead,” Kim told Cointelegraph. “We’ve had legal precedent — Bitcoin, Ether and many other digital assets are much more akin to commodities. The CFTC will have an important role to play in their oversight.”

The report appears to mark the end of a long-running jurisdictional battle between the SEC and CFTC, affirming that digital commodities (like Bitcoin and Ether) fall under CFTC oversight, while the SEC will focus on tokenized securities.

This new division of labor is precisely what the CLARITY Act codifies — a bill that passed the House and awaits Senate deliberation.

From Turf War to Regulatory Unity

The SEC responded with the launch of Project Crypto, a reform initiative to provide streamlined, unified licensing for brokerages operating across asset classes. It aims to establish clear guardrails for token issuance, custody, and investor protection — without reflexively labeling crypto assets as securities to stifle innovation.

“It should not be a scarlet letter to be deemed a security,” said SEC Commissioner Paul Atkins. “Investors will benefit from access to features like distributions and voting rights.”

Simultaneously, CFTC Acting Chair Caroline Pham announced a “crypto sprint” to rapidly implement the White House’s recommendations for digital commodity oversight — from spot market regulation to tokenized commodity frameworks.

“You’ll see increased collaboration between the two agencies,” said Kim. “That’s a theme many people overlook. It was included in the President’s executive order from January.”

GENIUS Act: Stablecoin Strategy as Dollar Diplomacy

The U.S. isn’t just aiming for regulatory clarity — it’s responding to global stablecoin competition. As China deploys its digital yuan through satellite jurisdictions like Hong Kong, and the EU implements MiCA rules, the U.S. is pushing forward with the GENIUS Act, designed to tokenize the U.S. dollar through private stablecoins.

“GENIUS provides a market-driven path forward,” Kim explained. “It allows for privacy, innovation, and growth without relying on a government-issued CBDC.”

This is a clear rejection of central bank digital currencies (CBDCs), which former President Trump formally banned in a January executive order, citing surveillance risks. Instead, the U.S. approach emphasizes competitive, dollar-backed stablecoins — an area where firms like Circle, Ripple, and Paxos are already heavily active.

Other Jurisdictions Losing Ground

As global crypto hubs tighten regulations, the U.S. may reclaim its appeal:

• Dubai’s regulator issued compliance ultimatums.

• Singapore ejected firms exploiting gray areas.

• Hong Kong imposed strict new licensing for stablecoin issuers — which analysts believe is part of China’s digital yuan export strategy.

While these regimes offer clarity, they’re proving less crypto-friendly in practice — creating an opening for U.S. capital markets to become the preferred destination for compliant digital asset firms.

Regulatory Clarity ≠ Deregulation

Critics, including Senator Elizabeth Warren and over 80 civil rights groups, claim the CLARITY Act amounts to crypto deregulation. But Kim pushed back:

“This is not deregulation. It’s structured engagement. It’s about creating rules tailored to digital assets, fighting illicit finance, and giving the industry a framework to operate within — not outside — the law.”

Outlook: From Crypto Backwater to Global Standard-Setter

After years of regulatory paralysis, the U.S. crypto regulatory ecosystem is now showing signs of strategic coherence:

• The White House report sets the policy tone.

• The SEC’s Project Crypto establishes enforcement boundaries and licensing paths.

• The CFTC sprint reclaims digital commodity jurisdiction.

• The GENIUS and CLARITY Acts provide the legislative backbone for stablecoin and asset classification frameworks.

Taken together, these developments represent a wholesale realignment — and potentially a new Bretton Woods moment in the making, with tokenized dollars, clear governance models, and global financial influence flowing through U.S.-regulated rails.

📌 Key Acts to Watch:

• GENIUS Act: Private stablecoin standard to reinforce dollar dominance

• CLARITY Act: Defines SEC vs. CFTC jurisdiction over digital assets

🧭 What’s Next:

• Senate vote on CLARITY Act

• SEC/CFTC rulemaking under new crypto directives

• Implementation of Project Crypto & CFTC sprint

@ Newshounds News™
Source:  Cointelegraph

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UK Greenlights Crypto ETNs for Retail Investors, Reigniting Push Toward Digital Asset Hub Status

Reversal of FCA ban signals strategic regulatory shift, but derivatives remain off-limits

In a move that signals a major policy pivot, the United Kingdom’s Financial Conduct Authority (FCA) has lifted its ban on crypto exchange-traded notes (cETNs) for retail investors — a decision widely seen as a bid to restore the UK’s ambitions of becoming a global digital asset hub.

The change, announced on August 2, will go into effect October 8, 2025, reversing a ban originally implemented in January 2021 over concerns around volatility and investor protection.

Industry leaders say the updated stance reflects maturing markets, better product understanding, and a regulatory recalibration in favor of proportional consumer access.

FCA's Ban Reversal: A Turning Point for UK Crypto Policy

In a statement accompanying the decision, the FCA acknowledged that the crypto market has evolved considerably in recent years and noted increased sophistication among both investors and product structures. The agency emphasized that the regulatory framework remains focused on protecting consumers while supporting innovation.

Ian Taylor, board adviser at CryptoUK and COO of HT Digital, called the decision “long overdue”:

“Until now, the UK has been an outlier on ETNs. This change reflects the progress we’ve made toward introducing a more proportionate approach to consumer risk.”

CryptoUK, a key trade association, has long advocated for inclusive access to regulated crypto products, including ETNs — which allow investors to track crypto asset performance without directly holding the underlying tokens.

Industry Praises Return of Retail Autonomy

Riccardo Tordera, director of policy and government relations at The Payments Association, welcomed the FCA’s move as an essential correction to an overprotective stance that hindered the UK’s crypto ambitions.

“The intrinsic nature of crypto means it can be accessed by everyone, from everywhere,” said Tordera.
“The FCA ban on retail access to certain crypto products was hindering the UK’s chances of becoming a global crypto hub.”

According to Tordera, the updated rules empower individual investors to make decisions “at their own risk,” while also improving the UK’s global competitiveness in the race to attract crypto firms, capital, and innovation.

Skeptics Push Back With Satire

Not all reactions were celebratory. In typical fashion, WallStreetBets founder Jaime Rogozinski responded to the announcement with a jab at British priorities:

“Britain loves financial risk — just not the kind that involves, say, vegetables or an industrial policy.”

His comment — part sarcasm, part policy critique — reflects lingering skepticism about the UK’s broader economic posture, particularly in the post-Brexit era.

Crypto Derivatives Still Prohibited

Despite this breakthrough, the FCA reaffirmed that crypto derivatives remain banned for retail traders. These products — including futures, options, and perpetual contracts — are still considered too complex and high-risk for the average investor.

“The FCA’s ban on retail access to crypto asset derivatives will remain in place,” the agency confirmed.

However, it also stated that it would continue to monitor market developments and reassess its approach based on evolving risk metrics and industry feedback.

Outlook: Competitive Crypto Landscape Forces UK’s Hand

The FCA’s reversal appears to reflect not just evolving markets, but also growing international pressure. Jurisdictions such as Hong Kong, Singapore, the UAE, and parts of the EU have aggressively moved toward regulated retail access to crypto instruments, placing the UK at a strategic disadvantage.

With global finance and digital assets increasingly interlinked, this policy shift could mark the start of a broader regulatory transformation — one that attempts to strike a balance between investor protection and market dynamism.

📌 Effective Date:
Retail access to crypto ETNs resumes October 8, 2025

Still Banned:
Crypto derivatives (futures, options, perpetuals)

@ Newshounds News™
Sources:  Cointelegraph

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Ripple’s RLUSD Surpasses Zcash in Market Cap as Stablecoin Adoption Surges

GENIUS Act fuels institutional momentum behind Ripple USD, signaling a new phase in the dollar tokenization race

Ripple’s dollar-pegged stablecoin RLUSD has officially overtaken Zcash (ZEC) in market capitalization, marking a significant shift in crypto capital flows. With $602.6 million in market value and $35.8 million in daily trending volume, RLUSD now ranks 8th among stablecoins and 104th overall, just shy of the global top 100 digital assets.

More than just a market reshuffle, RLUSD’s rise reflects a wider transformation in crypto adoption as institutional capital pivots toward compliant, U.S.-backed digital dollar alternatives — particularly those aligned with the newly enacted GENIUS Act.

Zcash Slips to 106th Amid Privacy Token Pressure

Zcash, once a prominent privacy-focused cryptocurrency, has seen its market presence eroded over time, now trading at $35.20 — down over 11% in the past week and 99% below its all-time high of $5,941. The coin has failed to recover amid increasing regulatory scrutiny of anonymous transactions and dwindling investor interest.

ZEC Technical Overview:

• Trading below 200-day SMA — long-term bearish signal

• MACD histogram at –0.615 — sustained negative momentum

• Underperforming 52% of top 100 assets over the past year

• Currently capped by 30-day SMA resistance at $41.23

This downturn comes as regulators worldwide move against privacy coins, raising concerns about their role in facilitating illicit finance — and opening the door for compliant alternatives like RLUSD.

RLUSD Emerges as Strategic Stablecoin Contender

RLUSD’s rise isn’t simply opportunistic — it’s structural.

As a dollar-pegged stablecoin built within the Ripple liquidity ecosystem, RLUSD benefits from RippleNet’s global banking partnerships and the growing enterprise use of tokenized U.S. dollars. The recent passage of the GENIUS Act, which formalizes stablecoin standards and reinforces dollar-denominated reserve backing, has further boosted institutional confidence.

“RLUSD is quietly capturing market share as investors rotate into regulated, high-trust digital assets,” one analyst noted. “The GENIUS Act gives issuers like Ripple the legal clarity needed to scale.”

Current Stats:

• Market Cap: $602.6 million

• Stablecoin Rank: #8 (trailing only PayPal USD at #7)

• 24h Trending Volume: $35.8 million

• Price: Stable at $1.00

GENIUS Act: From Tokenization to Dominance

The GENIUS Act, signed into law earlier this year, is a landmark stablecoin framework designed to ensure that U.S. dollar-backed stablecoins remain the global reserve standard in a tokenized financial system.

Rather than rely on a government-issued CBDC — which former President Trump banned via executive order — the GENIUS Act empowers private-sector innovation in stablecoin issuance, provided firms meet rigorous reserve, reporting, and AML compliance requirements.

RLUSD’s institutional ascent reflects this pivot: capital is no longer fleeing the U.S. regulatory system — it’s aligning with it.

Legacy Coins Under Pressure as RLUSD Rises

With RLUSD climbing the ranks and poised to enter the top 100 global cryptocurrencies, pressure is mounting on legacy and mid-tier altcoins. Analysts suggest that Zcash’s continued decline could be the first in a wave of devaluations for tokens that lack regulatory viability or real-world integration.

Meanwhile, RLUSD is beginning to mirror XRP’s path toward deeper banking sector disruption — offering a dollar-denominated gateway into Ripple’s expanding institutional network.

“If XRP is the bridge, RLUSD is the base currency,” one market commentator observed. “Both are now part of the same liquidity engine.”

 Key Takeaways:

• RLUSD surpasses Zcash with $602.6M market cap

• GENIUS Act credited with accelerating stablecoin adoption

• Institutional capital shifting from privacy coins to regulated assets

• Ripple USD ranks #8 among stablecoins, eyeing top 100 entry

• XRP ecosystem deepens as RLUSD gains traction

@ Newshounds News™
Source:  Cointribune

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Crypto Paychecks? Gen Z Leads Surge in Stablecoin Demand

New study shows 75% of Gen Z open to stablecoin salaries, highlighting a generational shift in finance adoption amid GENIUS Act momentum

A recent survey by Cryptoninjas reveals that Generation Z is leading the charge in stablecoin adoption, with nearly half transacting monthly and 75% expressing willingness to receive their salaries in stablecoins. As Washington advances legislation to formalize stablecoin infrastructure through the GENIUS Act, this generational pivot is becoming harder to ignore.

Gen Z Embraces Stablecoins as the New Financial Rails

According to the study:

• 46% of Gen Z participants use stablecoins monthly

• Only 30% of Millennials and 29% of Gen X transact monthly

• 53% of all participants have used stablecoins at least once

Younger users are gravitating toward crypto-native financial services, such as yield farming and inflation-resistant savings. Among Gen Z, yield opportunities are the top motivation, with speed, inflation hedging, and on-ramps to crypto rounding out the list.

“For 46% of Generation Z, the big draw is yield farming,” the report noted. “Speed, inflation protection, and easy access to crypto round out their list.”

Stablecoin Salaries? Gen Z Says Yes

Perhaps most revealing: 57% of all stablecoin users said they’d be open to getting paid in stablecoins. That number jumps to 75% among Gen Z, compared to:

• 53.2% of Millennials

• Only 33.3% of Gen X

This aligns with broader demographic data showing Gen Z’s high comfort with digital wallets, crypto apps, and tokenized financial instruments, including those introduced via legislation like the GENIUS Act, which creates a regulatory framework for dollar-backed stablecoins.

Adoption Barriers: Real-World Use Still Lags

Despite the enthusiasm, the top concern remains limited utility:

• 42.4% of users cite lack of real-world acceptance

• Other concerns include price volatility (12.9%), unclear regulation (11.5%), fees (9.4%), and security (6.5%)

The report concludes that usability and user experience are crucial to mass adoption — especially for older users. Most people won’t use stablecoins regularly until apps evolve beyond their “crypto-native” design and offer everyday functions like bill pay, shopping, and savings tools in a clear, accessible format.

Strategic Implications: The GENIUS Act and a Dollar-Backed Future

As stablecoin usage accelerates among digital natives, Washington’s response is taking shape. The GENIUS Act, which enshrines standards for reserve-backed, transparent, and regulated stablecoin issuance, aims to ensure that U.S.-denominated digital assets become the global standard — not an afterthought.

With younger generations driving demand, and institutional players like Ripple and PayPal rolling out compliant stablecoins, the U.S. financial system is at a tipping point — one where tokenized dollars could become the default payment medium for the next generation of workers.

Key Findings:

• Gen Z leads in stablecoin usage and salary acceptance

• 75% of Gen Z would take their paycheck in stablecoins

• Main barriers: lack of real-world utility and user-friendly apps

• Demand for yield, inflation protection, and fast payments driving usage

• Stablecoins are shifting from speculation to salary and savings

@ Newshounds News™
Source:  Bitcoin.com

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Iraq Economic News and Points To Ponder Wednesday Morning 8-6-25

Ministry Of Planning: The Five-Year Development Plan Will Reduce Unemployment Rates To Below 10 Percent

Buratha News Agency1762025-08-05   The Ministry of Planning revealed, on Tuesday, the most prominent quantitative, economic and social targets included in the five-year development plan for the years (2024-2028), indicating that the five-year development plan will reduce unemployment rates to less than 10 percent.

The official spokesperson for the ministry, Abdul Zahra Al-Hindawi, said: “The plan aims to achieve an annual economic growth rate of 4.24 percent,” explaining that “this rate depends on several factors, most notably oil prices, the size and composition of investments, industrial production, and international trade.”

He added that "among the plan's primary objectives is to maintain the population growth rate at its current level of 2.5%, based on the results of the population census, in line with the requirements of developing human capital."

He pointed out that "the plan seeks to reduce unemployment rates by no less than 10% from the current level of 13%, while maintaining stable inflation rates that do not affect the poor segments and support job creation."

Regarding investments, he explained that "the plan aims for government investments to constitute approximately 65% of total investments during the implementation period, compared to 35% for the private sector."

He also indicated that "poverty rates will witness a decline to less than 15% at the national level," adding that "the plan places special attention on developing the manufacturing industries and increasing their contribution to the GDP to more than 2%, in addition to raising the contribution of the agricultural sector to 3%.

The plan also aims to reduce dependence on oil, by diversifying sources of income and achieving growth in non-oil sectors, with expectations that the contribution of the oil sector to the GDP will decline by up to 25% from its current level during the five-year plan."  https://burathanews.com/arabic/news/463705

The Bank Of Baghdad Denies Suspending Dollar Transfers

Banks  Economy News – Baghdad  The Bank of Baghdad denied on Monday reports circulating about a suspension of dollar transfers, stressing that the bank continues to provide its banking services as usual and regularly.

The bank clarified in a statement received by Al-Eqtisad News that all banking operations, including foreign transfers in dollars, are conducted in accordance with the controls and instructions issued by the Central Bank of Iraq and in line with standards of financial compliance, governance, and transparency.

The statement added that the Bank of Baghdad is fully committed to implementing the instructions of the Central Bank of Iraq, calling on the media and the public to exercise accuracy and refrain from circulating rumors or unreliable information.   https://economy-news.net/content.php?id=58343

Kurdish Sources: Erbil Refuses To Hand Over Non-Oil Revenues And Prevents Baghdad Committees From Auditing.
 
5 Aug Information/Baghdad.. Informed Kurdish sources revealed on Tuesday that the implementation of the financial agreement between the  federal government and the  Kurdistan Regional Government (KRG)   continues to stall   due to the latter's refusal to hand over non-oil revenues to Baghdad.
 
Sources told Al-Maalouma News Agency that "the regional government is not prepared to hand over
 oil and     non-oil revenues to the federal government,   contrary to the agreement signed between the two parties," noting that  "the Kurdistan Regional Government has refused to allow the relevant federal government committees to review local non-oil revenues." 

She added, "The region expressed its willingness to hand over 120 billion dinars of local revenues for this month alone, but refused to commit to transferring the amount for future months,  claiming the sum was too large."  The sources confirmed that
 
"the regional government delegation that recently visited Baghdadofficially informed the federal government delegation that  it was not allowed to audit non-oil revenues," explaining that
 
"the government delegation submitted a detailed report to Prime Minister Mohammed Shia al-Sudani,
 which included the obstacles hindering the implementation of the agreement with the region."   
https://almaalomah.me/news/106549/economy/مصادر-كردية:-أربيل-ترفض-تسليم-الإيرادات-غير-النفطية-وتمنع-لج    

Al-Marsoumi Reveals The Secret: Why Is Iraq Sending Its Gas To Iran? "100 Million Cubic Feet Per Day"
 
Economy    2025-08-05 |  Source:   Alsumaria News   4,633 views   Alsumaria News -  Economic expert Nabil Al-Marsoumi revealed details of a new agreement between Iraq and Iran, which stipulates the transfer of associated gas from oil wells in Maysan to Iranian territory for   processing and   re-use as fuel for power plants.  Al-Marsoumi explained that
 
100 million cubic feet per day from Maysan to Iran
 
the agreement stipulates the transfer of 100 million cubic feet of associated gas per day from wells oil in Maysan province to Iran.
 
Tehran will  process this gas and return it to Iraq to be used to operate power plants.  Al-Marsoumi pointed out that
 
Challenges of associated gas flaring in both countries
 
this agreement comes amid significant challenges facing both countries in dealing with associated gas.

Despite possessing vast reserves of free natural gas,  Iran ranks second globally after Russia in flaring associated natural gas,  flaring 20.4 billion cubic meters in 2023.  

Al-Marsoumi attributed  this problem to a lack of investment in natural gas infrastructure and Iran's failure to develop and install essential equipment to collect associated gas from oil fields over the past two decades.   
https://www.alsumaria.tv/news/economy/536019/المرسومي-يكشف-السر-لماذا-يرسل-العراق-غازه-لإيران؟-100-مليون-قدم-مكعب-ي    

Iraqi Oil In The Grip Of The "Dragon"... An Expert Explains The Motives For Baghdad's Openness To China
 
Time: 2025/08/05 Reads: 870 Times  {Economic: Al-Furat News} Oil expert Hamza al-Jawahiri revealed that  Iraq's preference for Chinese companies to invest in its oil sector is due to"their conditions being less stringent than those of other international companiesand offering better conditions." 

Al-Jawahiri said in a statement to {Al-Furat News}:  "This preference is not limited to one company,   but extends to dozens of companies,  all working to invest in the country." 

He explained that  "the technology used in the extractive industry is no longer the monopoly of former international companies," emphasizing that’  "most countries are now capable of developing their oil and extractive industries,including national ones."  Al-Jawahiri considered that
 
"these factors are what pushed China to invest in Iraq," noting that "there are other companies working to invest outside of Iraq and can achieve greater profits with the same effort expended in Iraq."
 
Attention has recently turned to the increasing activity of independent Chinese oil companies in Iraq,
where their investments have doubled to billions of dollars in a country that is
the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC).
 
This is despite the reduction of major international companies' presence in
the Iraqi market, which is now dominated by major state-owned Chinese companies.
 
In contrast, executives of smaller Chinese companies believe that the investment climate in Iraq has witnessed a significant improvement,due to relative political stability and the Iraqi government's keenness to attract both Chinese and Western investment. https://alforatnews.iq/news/النفط-العراقي-في-قبضة-التنين-خبير-يوضح-دوافع-انفتاح-بغداد-على-الصين    

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 8-6-25

Good morning Dinar Recaps,

BRICS Turns Crisis Into Opportunity: India Reconsiders U.S. Alliance as China Opens Trade Lifelines

With Washington escalating tariffs and pressure, India and Brazil deepen BRICS economic cooperation amid U.S. hostility

As tensions between India and the United States escalate, BRICS is quietly reshaping global trade dynamics, offering member nations economic alternatives that blunt the impact of Western tariffs. In the wake of President Donald Trump’s 25% to 50% tariff threats on Indian and Brazilian exports, member states are rapidly reassessing their foreign policy orientations — and China is stepping in to fill the void.

This realignment has become particularly visible as India faces one of the sharpest diplomatic downturns with Washington in decades, while Brazil gains new Chinese market access to counteract U.S. economic penalties.

Trump’s Tariff Ultimatum Triggers Diplomatic Rethink in India

Trump’s trade offensive against India, launched via Truth Social on August 1st, directly tied high tariffs to India's continued imports of Russian oil and its perceived unwillingness to align with Western sanctions. The President's rhetoric was scathing:

“India, Russia can take their dead economies down together, for all I care.”

In a particularly antagonistic swipe, Trump even floated an oil collaboration with Pakistan, hinting that Islamabad might one day supply India — a move many analysts read as calculated provocation.

Beyond rhetoric, Trump's criticism laid bare longstanding U.S. frustrations:

• India’s trade surplus with the U.S. now exceeds $45.7 billion

• High non-monetary trade barriers persist

• India remains the largest buyer of Russian energy and defense equipment

U.S. Secretary of State Marco Rubio reinforced this stance in a Fox Radio interview, criticizing India’s energy partnerships:

“Unfortunately, [India buying Russian oil] is helping to sustain the Russian war effort.”

India’s Ministry of Commerce & Industry responded tersely:

“The Government will take all steps necessary to secure our national interest.”

China Offers India a Strategic Alternative Through BRICS

As U.S.-India ties fracture, China has emerged as an unexpected diplomatic backchannel for India. At the 2025 BRICS Summit in Rio de Janeiro, China publicly backed India’s long-standing bid for UN Security Council reform — a gesture widely interpreted as an olive branch amid historic Sino-Indian rivalry.

Even more significant are the financial and policy shifts underway:

• India has received $12 billion in financing from the AIIB and $7.5 billion from the BRICS-led New Development Bank

• Reports indicate that India’s NITI Aayog may ease Chinese investment restrictions, allowing up to 24% foreign ownership without prior security clearance — a reversal from post-Galwan policy trends

These economic incentives, coupled with China’s diplomatic tone, suggest a reshaping of India’s calculus inside the BRICS alliance.

Brazil Finds a Lifeline in Chinese Trade Corridors

Simultaneously, Brazil has emerged as a primary test case for BRICS trade cooperation, leveraging the bloc’s cohesion to circumvent Trump’s 50% tariff on Brazilian goods, particularly coffee exports.

In a direct countermeasure:

• China has approved 183 Brazilian coffee companies for duty-free exports to its domestic market

• The deal ensures Brazilian exporters can offset U.S. tariff losses by gaining unrestricted access to Chinese consumers through 2030

• Additionally, 30 sesame-exporting firms in Brazil have also secured tariff-free export licenses to China under a four-year agreement

This shift not only mitigates U.S. penalties, but strategically strengthens intra-BRICS trade routes and dependence — a quiet but profound blow to Western leverage over emerging economies.

India’s Crossroads: Transactional U.S. Ties vs. Strategic BRICS Realignment

The deepening rift with Washington has led some analysts to speculate on extreme scenarios, including whether India could be pressured out of BRICS, or conversely, whether it will double down on its role in the multipolar alliance.

According to Derek J. Grossman, national security expert:

“This is the worst phase of India-U.S. relations in 25 years. We’re watching 25 years of progress rapidly unravel.”

With BRICS now accounting for 56% of global population and 44% of world GDP, the implications are massive. India is no longer merely navigating a bilateral trade dispute — it is at a geopolitical crossroads.

Conclusion: BRICS Evolves as a Shield Against U.S. Economic Coercion

Whether through China’s open market initiatives or BRICS’ development financing model, a clear pattern is emerging: the bloc is evolving into a strategic alternative to the U.S.-led order — one that prioritizes sovereignty, infrastructure development, and tariff resilience.

For India and Brazil, BRICS is no longer a symbolic coalition — it’s becoming a lifeline in the face of global economic weaponization.

@ Newshounds News™
Sources:
Watcher Guru – India BRICS Relations Wake-Up Call
Watcher Guru – BRICS Allows 183 Companies Direct Market Access to Bypass Tariffs

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Iraq Economic News and Points To Ponder Tuesday Afternoon 8-5-25

The Ministry Of Commerce Discusses Developments Regarding Iraq's Accession To The World Trade Organization With The British Embassy+

Tuesday, August 5, 2025 | Economic Number of reads: 351  Baghdad / NINA / Director General of the Department of Foreign Economic Relations at the Ministry of Trade, Riyadh Al-Hashemi, discussed with the Head of the Commercial Section at the British Embassy in Baghdad the latest developments in Iraq's accession to the World Trade Organization and ways to enhance partnership and cooperation between Iraq and the United Kingdom.

Al-Hashemi reviewed the most prominent developments and achievements made by the Ministry in coordination with the relevant Iraqi ministries and authorities to complete the requirements for accession to the World Trade Organization.

Al-Hashemi stressed the Iraqi government's keenness to benefit from the forms of support provided by the United Kingdom in this field, especially with regard to the technical and technological aspects, as it has an impact on enhancing Iraq's opportunities to join, improving the investment climate and developing the business environment.

The two sides also discussed ways to expedite the completion of the necessary procedures for the entry into force of the Partnership and Cooperation Agreement between Iraq and the United Kingdom.

For her part, the Head of the Commercial Section at the British Embassy renewed her country's support for Iraq's accession to the organization, noting the United Kingdom's readiness to provide the required support through cooperation and partnership programs, and contribute to the development of institutional competencies.

At the end of the meeting, the two sides praised the level of coordination and joint cooperation, and stressed the importance of continuing communication to achieve progress on issues of common interest and contribute to developing economic and trade relations between the two countries. /End https://ninanews.com/Website/News/Details?key=1244712

Iraq Regains Part Of Its Market Share With A Measured Increase In Production
August 5, 2025  Baghdad - Qusay Munther  The Ministry of Oil confirmed that it has not dealt with any suspicious tanker within Iraqi territorial waters, while noting that the Kurdistan Region has not yet committed to delivering any of its oil production in accordance with the agreement concluded with Baghdad.

 “Iraqi ports are secure and are managed in close coordination with security and operating agencies,” said Ali Nizar Faiq, director general of the Iraqi Oil Marketing Company (SOMO).

He added that “the leaked document in circulation is real, but it is a normal routine procedure aimed at controlling oil tanker loading schedules.” He pointed out that “the document was directed exclusively to the relevant security agencies, in a high-level format, to ensure tight control over export operations.”

Faiq explained that “any suspicious tanker will be located by the competent authorities.” He pointed out that “the four tankers mentioned in the document have been monitored, and may be loaded with industrial materials unrelated to oil.”

He stressed that “there are no current or future dealings with companies or entities subject to sanctions, and measures are being taken to remove any suspicious tanker from Iraqi territorial waters.”

He went on to say that “Iraqi daily oil exports range between 3.35 million and 3.4 million barrels, 78 percent to 80 percent of which go to Asian markets, as they are developing markets with high consumption.”

“The increase decided by OPEC for Iraq through oil production is a well-studied increase, as the market conditions were studied in terms of production, demand, and the extent of balance in the global oil market between supply and demand,” Faiq said.

“The increase only comes after ensuring that the market can bear it through OPEC experts and the countries allied with it,” he explained, explaining that “the increase came from the voluntarily reduced quantities, not from the original reduced quantities, according to the agreement between these countries.”

 He added that “this increase serves these countries and restores their market share somewhat, including Iraq in the global markets, except that…” Prices are also rising, supported by existing demand during the third quarter of this year.

Oil prices were unchanged after falling for three days, due to growing concerns about oversupply after OPEC+ agreed to another large production increase in September, but the possibility of further disruption to Russian supplies supported the market.

Brent crude futures settled at $68.76 per barrel, while US West Texas Intermediate crude fell two cents, or 0.03 percent, to $66.27 per barrel. Both crudes fell more than 1 percent in the previous session, reaching their lowest levels in a week at settlement.

 Meanwhile, the Southern Electricity Transmission Company confirmed that the operation of a new power transmission line will strengthen the power system in Dhi Qar and Muthanna governorates.

The Director General of the Southern Electricity Transmission Company, Hazem Lafta, said in a statement yesterday that “the operation of the Dhi Qar-Muthanna 400 kV combined power transmission line with a capacity of 2,000 megawatts, with 237 towers and a length of 90 kilometers, came based on the directives of Prime Minister Mohammed Shia Al-Sudani and the Minister of Electricity, Ziyad Ali Fadel,” stressing that “this line will contribute to strengthening the energy system and improving the performance level of the national grid in the provinces of Dhi Qar and Muthanna.”

He pointed out that "the work was completed in record time by the national staff of the Ministry of Electricity and the supporting and contracting parties."   LINK

The Dollar Price Stabilized In Local Markets As The Stock Exchange Closed

Tuesday, August 5, 2025, | Economic Number of reads: 123  Baghdad/NINA/ The dollar exchange rates stabilized in the markets of Baghdad and Erbil governorates, with the closing of the stock exchange on Tuesday evening.

The dollar prices maintained their stability in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, where the exchange rate recorded 139,950 dinars per 100 dollars, the same prices recorded this morning.

The selling prices in exchange offices in the local markets in Baghdad reached 141,000 dinars for every 100 dollars, while the purchase price reached 139,000 dinars.

In Erbil, the dollar prices also recorded stability, as the selling price reached 139,850 dinars, and the purchase price 139,750 dinars per 100 dollars. https://ninanews.com/Website/News/Details?key=1244791

Gold Rises, Supported By A Weaker Dollar And Lower US Treasury Yields

Tuesday, August 5, 2025 | Economic Number of reads: 189  Baghdad/ NINA /Gold prices rose for the fourth consecutive session on Tuesday, supported by a weaker dollar and lower US Treasury yields, as weaker-than-expected US jobs data reinforced bets on an interest rate cut in September.

Spot gold rose 0.1 percent to $3,375.89 per ounce, while US gold futures also rose 0.1 percent to $3,430.40.   The dollar index hit a near one-week low, making gold more accessible to holders of other currencies, and the yield on the benchmark 10-year Treasury note fell to a one-month low.

Among other precious metals, spot silver rose 0.1 percent to $37.44 an ounce, platinum gained 0.1 percent to $1,330.31, and palladium rose 0.2 percent to $1,204.25 . https://ninanews.com/Website/News/Details?key=1244721

Due To Increased Supply, Global Oil Prices Stabilize.

Economy | 05/08/2025  Mawazine News - Follow- up Oil prices were little changed on Tuesday after three days of declines due to mounting concerns about oversupply after OPEC+ agreed to another large production increase in September, but the possibility of further disruption to Russian supplies supported the market.

Brent crude futures were steady at $68.76 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 2 cents, or 0.03%, to $66.27 a barrel. Both contracts fell more than 1% in the previous session and settled at their lowest levels in a week.
https://www.mawazin.net/Details.aspx?jimare=264605

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

Iraq Economic News and Points To Ponder Tuesday Afternoon 8-5-25

Source: 5 Iraqi Banks Subject To Sanctions For Dollar Violations
 
August 4, 2025  Al-Mustaqilla/- An informed source revealed in a statement to Al-Mustaqilla that  five Iraqi banks have recently been subjected to punitive measures by the Central ank for violations related to their failure to comply with regulations governing transactions in US dollars.
 
This comes as part of an escalating regulatory campaign aimed at  regulating banking performance and
 combating currency smuggling. 

The source, who requested anonymity, explained that among these banks is the Bank of Baghdad,
 whose case has been one of the most prominent banking issues raised recently, after it was onfirmed that it was banned from dealing in dollars  due to violations related to  foreign transfers and  suspicious transactions.

The source added that  some of the banks subject to sanctions also face additional measures due to their  involvement in unregulated financial activities or weak adherence to audit and compliance mechanisms.

He noted that the sanctions vary from one bank to another and include a  ban on dealing in dollars,
 freezing certain activities,  or  direct oversight by the Central Bank.
 
Despite the actual issuance of these sanctions, the source noted that the Central Bank has not officially announced the names of all the banks affected by the sanctions,  raising questions about the reasons for this secrecy, especially given the impact these measures have had on the  financial market and   citizens' confidence in banking institutions.
 
This development comes at a time when the  Iraqi banking sector is suffering from internal and external pressures,  due to  US sanctions and restrictions on the dollar, in addition to challenges related to money laundering and the  financing of foreign networks.
 
Experts are calling on the government and the Central Bank to   be more transparent in announcing details of banking sanctions, to  ensure public confidence and  reassure customers about the safety of the financial sector.    https://mustaqila.com/مصدر-5-مصارف-عراقية-تخضع-لعقوبات-بسبب-م/  

Source: The Central Bank Of Iraq Has Suspended The Bank Of Baghdad From Dealing In Dollars.
 
August 3, 2025 Al-Mustaqilla/- An informed source reported that the Central Bank of Iraq has issued a decision to suspend the Bank of Baghdad from dealing in US dollars,  in a new move aimed at  strengthening oversight of financial transactions and   combating manipulation in the foreign exchange market. 
 
The source, who requested anonymity, told Al-Mustaqilla on Sunday that the decision was part of a series of measures taken by the Central Bank to curb currency smuggling and  stabilize the dinar-dollar exchange rate,  following the detection of violations related to   transfer mechanisms and   foreign transactions.
 
Bank of Baghdad  is one of the largest private banks in Iraq and    has a prominent presence in the banking market.  This decision will have a significant impact on banking and commercial operations, especially in light of the challenges facing the country's financial system.

No official comment has yet been issued by the bank concerned, but it is expected that this move will be followed by similar decisions against other banks and financial institutions that may be proven to be involved in financial violations or abuses in the use of the US dollar.

It is noteworthy that the Central Bank of Iraq has recently intensified its oversight measures on  foreign currency auctions and  external transfers, in an attempt  to  control the market and  restrict  speculation and  smuggling, which directly impact the country's economic stability.    https://mustaqila.com/مصدر-المركزي-العراقي-يوقف-مصرف-بغداد-ع/   

Source Reveals: Bank Of Baghdad Remains Sanctioned Despite Official Denials
 
August 4, 2025   Al-Mustaqilla/- In a new development that has sparked controversy in banking and media circles, the  Bank of Baghdad  issued an official statement today denying recent reports regarding sanctions related to its dealings in US dollars. The statement  affirmed that its banking operations are   proceeding normally and  in accordance with the regulations approved by the Central Bank of Iraq. 

The statement read,  "The bank continues to provide its services as usual and regularly, and all banking operations are carried out in accordance with instructions issued by the relevant authorities, with no decisions prohibiting it from dealing in dollars."
 
Despite this official denial,  a well-informed source within the bank, who declined to be named, revealed to Al-Mustaqilla on Monday that   the bank had indeed been subjected to punitive measures recently.  

He confirmed that the penalty relates to its failure to fully comply with compliance instructions for dollar transactions,  making it one of a number of banks against which similar measures have been taken. 

The source added that   the penalty was imposed a few days ago, noting that the bank is still working to resolve the related cases, in coordination with the Central Bank of Iraq and   relevant international bodies.
 
This discrepancy between the official statement and leaks from within the bank reflects a state of ambiguity regarding the  nature of the sanctions and   their impact on ongoing financial transactions,
 
particularly in light of the increasing challenges facing the Iraqi banking sector due to US restrictions on foreign transfers.
 
Observers are anticipating further clarification from the Central Bank of Iraq to resolve the controversy,
 especially with increasing reports of a list of other banks that may be subject to similar measures in the coming days.    https://mustaqila.com/مصدر-يكشف-مصرف-بغداد-لا-يزال-معاقباً-رغ/ 

The Bank Of Baghdad Denies Suspending Dollar Transfers. 

Uses Economy News – Baghdad  The Bank of Baghdad denied on Monday reports circulating about a suspension of dollar transfers,  stressing that the bank continues to provide its banking services as usual and regularly.
 
The bank clarified in a statement received by Al-Eqtisad News that all banking operations, including foreign transfers in dollars, are conducted in accordance with the controls and instructions issued by the Central Bank of Iraq and  in line with standards of financial compliance, governance, and transparency.
 
The statement added that the  Bank of Baghdad is fully committed to implementing the instructions of the Central Bank of Iraq, calling on the  media and the public to exercise accuracy and  refrain from circulating rumors or unreliable information.  https://economy-news.net/content.php?id=58343 

A Company Disguised As Advertising Carries Out Money Laundering And Dollar Smuggling Operations.
 
Economy   2025-08-04 | 1,155 views  Alsumaria News – Local  Since its establishment in 2008, an advertising company run by "J.M."  has continued to operate normally,  indifferent to the corruption it carries out, as if it were conducting legal business.
 
Reports indicate that this company,  which has its official headquarters in central Baghdad,  has been involved in  money laundering and  illegally smuggling foreign currency,  specifically US dollars, out of Iraq over the past few years.
 
This has led to official investigations being opened at multiple levels.
 
Since its founding, the company has established itself as a leader in producing promotional materials,
organizing advertising campaigns, and  purchasing advertising space in newspapers, on screens, and in the digital space.
 
The company quickly  achieved success and  secured major contracts with telecommunications companies,  private banks,  media organizations, and even   government agencies.  According to unofficial data,
 
the company's annual revenues in some years amounted to millions of dollars.
 
But what raised suspicion was the  disproportionately large scale of some of the financial transactions, along with what was described as a  "sudden and unjustified expansion" in the company's assets, including  luxury offices, new cars, and
    unclear investments in  real estate and  foreign trade.
 
According to government sources and some media leaks, the  company's general manager , "J.K.", faces serious charges of money laundering. It is believed that the company used its commercial fronts to launder funds from illicit sources, through    fake deals and  inflated or fictitious invoices.

In addition, it is suspected that the company was involved in  purchasing large quantities of dollars from the black market and   transferring them abroad via local and foreign money transfer and exchange companies,  under the cover of alleged import and marketing activities.
 
It is also suspected that the company was tampering with government contracts, as   there are suspicions of concluding fictitious advertising deals with government agencies  in exchange for  commissions and   political favors.  Informed sources reported that
 
Official reactions
 
government investigative bodies have already begun investigating the company and its director.
 
The Central Bank has also restricted the company's dealings with several local banks
     after indications emerged of illogical financial transactions in its accounts. 
 
The source confirmed that "the Anti-Money Laundering Agency is monitoring the case in coordination with international agencies to monitor foreign transfers, some of which are believed to have taken place via the UAE, Turkey, Lebanon, and Jordan."
 
No final court ruling has yet been issued against the company's director or his company, but preliminary proceedings indicate  "significant complexity in the case, especially given the potential partners abroad."
 
This issue has cast a shadow over other advertising companies in Iraq,   as regulatory authorities have begun scrutinizing the records of major companies,   examining their sources of funding, and the  mechanisms by which they contract with public and private entities.
 
There have also been calls from within Parliament for stricter laws regarding  advertising company licensing and  monitoring of their finances.
 
The case of this company, whose name will be revealed later, remains one of the most prominent cases that combine the  economy,  media, and  corruption in Iraq.
 
If the charges against its director are proven, it will set a dangerous precedent for exploiting the media as a front for   money laundering and  smuggling.
 
This case  reveals the fragility of financial oversight in some sectors and  underscores the need for a more transparent and fair system for managing the Iraqi economy,  especially in light of the challenges facing the country.   
https://www.alsumaria.tv/news/economy/535947/تقوم-بعمليات-غسيل-أموال-وتهريب-الدولار-شركة-تتخفى-بقناع-الإعلانات  

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 8-5-25

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Trump Threatens Major Tariff Hike on India Over Russian Crude Imports

U.S.-India energy tensions escalate as Trump links trade penalties to continued Russian oil purchases

Trump Ties Tariffs to Russian Crude Trade

On Monday, U.S. President Donald Trump announced plans to “substantially raise tariffs” on Indian exports, citing India’s continued import and resale of Russian crude oil. The statement, published on Truth Social, marks the first direct linkage between U.S. trade penalties and India’s energy sourcing from Russia, according to Reuters.

Trump criticized India for purchasing “massive amounts” of Russian oil and profiting from resales while remaining “indifferent to Ukrainian deaths.” While no specific tariff categories were detailed, aides cited by Fortune warned that the new trade measures would be “very large, very soon.”

India’s Deepening Energy Ties with Russia

Despite mounting U.S. scrutiny and the threat of secondary sanctions, India has maintained Russian crude imports at over 1.5 million barrels per day throughout the summer.

Trade data cited by TRT World shows India’s imports from Russia surged from $9 billion in 2021 to over $64 billion in 2024, with discounted oil making up the vast majority of that increase.

To bypass sanctions and payment restrictions, Indian refiners have:

• Used rupee-based transactions

• Relied on direct Russian tankers

• Engaged third-party trading houses

At least four Russian-flagged, sanctioned tankers are reportedly anchored off India’s western coastline, unable to unload due to legal uncertainty — reflecting the growing operational risks tied to this trade.

Delhi Silent as Washington Ramps Up Pressure

India’s Ministry of External Affairs has not responded to Trump’s comments. In previous statements, however, Indian officials have emphasized the country's need for “strategic autonomy” and energy security, defending Russian crude purchases as a cost-effective, large-volume solution.

No formal timeline for the proposed U.S. tariff increases has been announced.

Ripple Effects for Indian Refiners

Trump’s threat adds fresh uncertainty for Indian refiners, many of whom are now:

• Reevaluating payment methods

• Switching flag registries for oil tankers

• Revising ship-to-ship transfer routes

Some Russian barrels are being re-routed through intermediaries in Fujairah (UAE) and Singapore, while U.S. Treasury advisories have triggered stricter due diligence from Indian shipping agents and insurers.

Even a symbolic tariff hike could have outsized effects by chilling third-party financing, delaying cargo insurance, and tightening liquidity access for Indian energy firms operating in gray-market supply chains.

Geopolitical Implications

This latest development underscores the fragile energy-trade balance between Washington and New Delhi. As Trump’s second term advances, India’s ties with Russia could become a central flashpoint in broader geopolitical realignment — especially if U.S. tariffs begin targeting core sectors like refined fuels, pharmaceuticals, and textiles.

Analysts warn that beyond economic implications, the tariffs could complicate:

• BRICS coordination on de-dollarized oil settlement

• Global South alliances navigating post-Ukraine energy trade

• India’s future role in U.S.-led Indo-Pacific security frameworks

@ Newshounds News™
Source: OilPrice   

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BRICS Oil Purchases from Russia Are Legal Under International Law, Says Source

Despite U.S. tariffs and threats, BRICS nations continue buying discounted Russian crude within approved price caps

Trump’s Sanctions Strategy Backfires as BRICS Defies Tariff Pressure

Since the U.S. imposed sanctions on Russia in February 2022, BRICS nations have steadily increased their purchases of Russian oil, drawing billions of dollars in energy savings. Despite U.S. attempts to isolate Moscow economically, countries like India and Brazil have intensified crude imports — even in the face of 25% tariffs and additional penalties from President Donald Trump.

India, in particular, has saved nearly $7 billion in foreign exchange costs by acquiring deeply discounted Russian crude, according to government trade data. These actions, perceived by some as defiance of U.S. policy, prompted Trump to publicly warn both India and Brazil: stop buying Russian oil or face further economic consequences.

India Responds: Oil Purchases Are Fully Legal

An unnamed source within the Reserve Bank of India (RBI) told TASS that BRICS nations are not violating international law by continuing oil trade with Russia. The official emphasized that the U.S. sanctions on Russian oil included a recommended price cap of $60 per barrel, and India has complied with this limit.

“India’s purchases of Russian oil have remained completely legal and within international norms,” the source stated. “Russian oil has never been subject to outright sanctions, nor is it currently banned by the U.S. or EU. Oil companies have consistently followed the $60 per barrel price cap recommended by the United States.”

The RBI official added that Trump’s latest tariffs contradict his own administration’s sanction framework, creating confusion among U.S. allies and trade partners alike.

Geopolitical Implications: BRICS Asserts Autonomy

India and Brazil’s continued engagement with Russian energy markets signals a broader BRICS strategy of asserting strategic autonomy. Rather than folding under pressure from Washington, these nations appear increasingly emboldened to pursue energy security on their own terms.

Analysts point out that:

• India has routed much of its Russian oil via intermediaries, using currencies such as the rupee and Chinese yuan to settle payments.

• Brazilian refineries have also increased uptake of discounted Russian barrels amid domestic fuel inflation.

• Neither country has shown signs of reducing imports despite U.S. threats of escalating tariffs.

Why Russian Oil Isn’t Technically Sanctioned

The confusion lies in how sanctions have been structured. Rather than banning Russian oil outright, the U.S. and EU agreed on a price-cap mechanism that allows purchases below $60 per barrel. This workaround was intended to:

• Limit Moscow’s revenue from oil sales

• Prevent global supply shocks

• Maintain access for developing nations to affordable energy

BRICS countries — especially India, China, Brazil, and South Africa — have used this mechanism to legally continue importing Russian crude, framing their actions as compliant with global frameworks and essential for national economic growth.

Conclusion: Tariff Escalation Likely to Face Global Pushback

While Trump’s tariffs may appeal to domestic political audiences, they risk fracturing long-standing alliances and trade relations with key BRICS economies. If the U.S. moves to punish legal oil transactions that abide by its own sanctions guidelines, it could trigger:

• Formal WTO disputes

• Retaliatory tariffs

• Stronger BRICS coordination on alternative energy payment systems

For now, BRICS officials appear resolute: buying Russian oil under the price cap is legal — and they intend to keep doing it.

@ Newshounds News™
Source: Watcher Guru   

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Iraq Economic News and Points To Ponder Tuesday Morning 8-5-25

Oil Prices Fall To Their Lowest Level

Energy   Oil prices fell to their lowest levels in a week on Monday after the OPEC+ alliance confirmed its intention to significantly increase oil production in September, while traders remain cautious about the implications of any potential additional sanctions against Russia.

Brent crude futures fell $1.55, or 2.3%, to $68.1 a barrel by 13:34 GMT, their lowest level since July 23. US West Texas Intermediate crude also fell $1.72, or about 2.5%, to $65.65 a barrel. Both benchmarks lost about $2 each last Friday.

The OPEC+ alliance of oil-exporting countries announced on Sunday its agreement to increase production by 547,000 barrels per day in September, as part of a gradual plan to regain market share lost during the production cut period.

This move is part of a series of increases aimed at restoring approximately 2.5 million barrels per day, representing approximately 2.4% of global demand, in an early and full return from the largest tranche of cuts implemented by the alliance.   https://economy-news.net/content.php?id=58370

Globally: Gold Records Its Highest Gains In 10 Days.

Economy |  04/08/2025  Mawazine News - Follow-up  Gold prices continued to rise for the third consecutive session on Monday, supported by growing expectations that the US Federal Reserve will cut interest rates amid weak economic data released last week.

Spot gold rose 0.3% to $3,373.22 per ounce by 13:15 GMT, recording its highest level since July 24, while US gold futures rose 0.8% to $3,427.10.

Data last week showed a slower-than-expected slowdown in US job growth in July, and data for May and June were revised down by 258,000 jobs, indicating a clear deterioration in the labor market.

Gold is considered one of the assets that perform well in a low interest rate environment and is considered a safe haven against inflation.  https://www.mawazin.net/Details.aspx?jimare=264592

A Slight Rise In The Dollar Exchange Rate In Baghdad

Economy | 04/08/2025  Mawazine News - Baghdad -  The dollar exchange rate against the dinar witnessed a slight increase on Monday in local markets in Baghdad. The selling price reached 140,750 dinars for $100, while the buying price reached 138,750 dinars for $100.   https://www.mawazin.net/Details.aspx?jimare=264578

Researchers Analyze How The "Development Path" Will Change The Regional Energy Map For Iraq And Turkey.
 
Economy 2025-08-01 | Source: Anadolu Agency 1,920 views  Alsumaria News – Economy affairs expert Turkish researcher Sercan Caliskan and Gulf Yasar Al-Maliki said that the "Development Road" project between Turkey and Iraq  establishes an energy agreement between the two countries.

The "Development Road" is  a land and railway route extending from Iraq to Turkey and its ports. It is
     1,200 kilometers long inside Iraq and aims  to transport goods between Europe and the Gulf states.
 
Çalışkan, a researcher in Iraq studies, noted that relations between Ankara and Baghdad have
 developed to a strategic level in the energy sector, and that  this process is linked to the "Development Road" project.
 
Çalışkan, a researcher at the Turkish Center for Middle Eastern Studies, emphasized that the development road project not only entails new energy lines for Turkey and Iraq, but also for the countries of the region. 

He added, "The bilateral relations strengthened by the Development Road project have
created a favorable environment for opening up new horizons of opportunity in various fields."

He pointed out that  the negotiation process for the new energy agreement not only paved the way for oil transportation, but also for  comprehensive, long-term cooperation that would prevent legal disputes between the two parties.
 
For his part, Al-Maliki, affairs an expert on Gulf at the Middle East Economic Survey (MEES), said that 
Turkey and Iraq are keen to expand their economic cooperation within the framework of the Development Road project. Al-Maliki added,
 
"Crude oil from other countries can also be transported via the Turkish-Iraqi oil pipeline,
     which will strengthen Türkiye's position as a regional energy hub between Asia and Europe." He pointed out that re-transporting Kirkuk oil from northern Iraq to Mediterranean refineries is also important for Baghdad.
 
Last week, Turkish sources told Anadolu Agency that Ankara and Baghdad had begun negotiations to reach a more comprehensive agreement for the transport of Iraqi oil.
 
In this context, a Turkish presidential decree was published in the Official Gazette on July 21, announcing that the crude oil pipeline agreement between Turkey and Iraq, in effect since 1973, will expire on July 27, 2026.       
https://www.alsumaria.tv/news/economy/535557/باحثون-يحللون-كيف-سيغير-طريق-التنمية-خريطة-الطاقة-الإقليمية-للعراق-وتر   

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