Iraq Economic News and Points To Ponder Late Thursday Evening 8-14-25

Gold Continues To Gain As Expectations Of Interest Rate Cuts Grow And The Dollar Declines.

Time: 2025/08/14 09:45:00 Reading: 360 Times  {Economic: Al Furat News} Gold prices continued their rise for the third consecutive session on Thursday, supported by growing expectations that the US Federal Reserve will cut interest rates in September following weak inflation data, which pressured the dollar.

Spot gold rose 0.2% to $3,359.81 per ounce by 04:10 GMT. US gold futures for December delivery rose 0.3% to $3,408.50.

The dollar held near multi-week lows against major currencies, making gold cheaper for holders of other currencies, while U.S. Treasury yields remained near their lowest levels in a week.

Among other precious metals, silver rose 0.1% to $38.56 an ounce, platinum fell 0.2% to $1,337.12, and palladium rose 1.5% to $1,139.32.  LINK

The Dollar Price Fell In Local Markets Today With The Closing Of The Stock Exchange

Thursday, August 14, 2025, | Economic Number of readings: 120  Baghdad/ NINA / The dollar prices decreased in Baghdad markets today, with the closing of the stock exchange.

The dollar prices witnessed a slight decrease with the closing of Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 140,450 dinars for $100, while this morning it recorded 140,500 dinars for $100.

Selling prices in exchange shops in local markets in Baghdad also witnessed stability, as the selling price reached 141,500 dinars for $100, while the purchase price reached 139,500 dinars for $100.

In Erbil, the dollar recorded stability, as the selling price reached 140,450 dinars for every $100, and the purchase price reached 140,350 dinars for $100. https://ninanews.com/Website/News/Details?key=1246368

A UN Report Shows Iraq's Progress In Sustainable Development

Local | 08/14/2025   Mawazine News - Baghdad:  The United Nations Country Team in Iraq has released its 2024 Annual Results Report, highlighting the transformative achievements Iraq has made in partnership with the United Nations, accelerating its progress towards achieving the Sustainable Development Goals and national priorities.

This report, prepared in close collaboration with the Government of Iraq, marks the end of the United Nations Sustainable Development Cooperation Framework for 2020-2024.

The report documents the combined impact of the partnerships of 23 UN agencies with national institutions, civil society, the private sector, and international partners.

According to the report, the United Nations and the Government of Iraq have achieved tangible progress in several areas, most notably: social cohesion, where community peacebuilding was strengthened, women and youth were empowered as peacebuilders, and assistance was provided for the safe and dignified return of displaced persons.

Initiatives also contributed to protecting the rights of minorities and supporting the most vulnerable groups. 2024 saw the first national census in over 30 years, supported by the United Nations.

The report added, "There is also economic growth through a focus on policy development, strengthening the education and vocational training sector, and encouraging entrepreneurship.

This cooperation has contributed to creating a more resilient and inclusive economy, particularly by supporting micro, small, and medium enterprises and providing financial and technical assistance to women and the most vulnerable groups.

It continued, "Also in the field of public services, the United Nations provided assistance with legislative reforms, strengthening institutional capacities, and digital governance strategies.

 Achievements included the digitization of the Water Safety Plan and the "Back to Learning" campaign, in addition to supporting customs automation through the Automated System for Customs Data (ASYCUDA), which contributed to enhancing trade. In the field of environment and climate change, a national environmental strategy was developed and biodiversity targets were adopted.

The United Nations Climate Change Conference (COP29) represented an opportunity for Iraq to showcase its efforts towards a green transformation, as an Iraqi youth delegation participated to present innovative ideas and solutions."  https://www.mawazin.net/Details.aspx?jimare=265093

Iraq Ranked 86th Globally And 10th In The Arab World In E-Commerce In 2025

Money and Business   Economy News – Baghdad   Iraq ranked 86th globally and 10th in the Arab world in online shopping by 2025, according to a report published by the American magazine "CEOWORLD."

The report stated that "the ranking was based on several factors, including the time individuals spend online each week, the percentage of online shoppers each month, and the average income spent through online platforms."

He added, "The number of online shoppers worldwide currently stands at 2.64 billion, representing more than 33% of the world's population, while total e-retail sales have reached approximately $6.31 trillion."

According to the report, "The United States topped the list, accounting for 57.54% of total online retail sales, followed by China in second place, Japan in third place, India in fourth place, Hong Kong in fifth place, and Singapore in sixth place."

Iraq ranked 86th globally and 10th in the Arab world, with a spending rate of 30.41% of total online retail sales.

In the Arab world, the UAE topped the list, ranking 13th globally, followed by Saudi Arabia, which came in second place, ranking 26th globally, followed by Qatar, which came in third place, Kuwait, which came in fourth place, Bahrain, which came in fifth place, Morocco, which came in sixth place, the Sultanate of Oman, which came in seventh place, Lebanon, which came in eighth place, Jordan, which came in ninth place, Iraq, which came in tenth place, followed by Yemen, which came in eleventh place, Tunisia, which came in thirteenth place, Algeria, which came in fourteenth place, and Egypt, which came in fifteenth place.    https://economy-news.net/content.php?id=58784

A Slight Decrease In Basra Crude Prices

Thursday, August 14, 2025, | Economic  Number of reads: 257   Baghdad / NINA / Basra Heavy and Medium crude oil prices fell on Thursday by more than one dollar.

Basra Heavy crude prices fell 92 cents, or 1.40%, to reach $64.65, while Medium crude prices fell 92 cents, or 1.34%, to reach $67.90.

Oil prices rose slightly today, regaining strength after a wave of selling in the previous session, with risk premiums rising in the market due to the upcoming meeting between US President Donald Trump and his Russian counterpart Vladimir Putin.  Brent crude reached $65.91, while US crude reached $62.89. / End   https://ninanews.com/Website/News/Details?key=1246311

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

Seeds of Wisdom RV and Economic Updates Friday Morning 8-15-25

Good Morning Dinar Recaps,

Stablecoins Poised to Reshape U.S. Monetary Policy by 2030

New report projects $1 trillion annual payment volume and major impact on Treasury markets

A joint report from Keyrock and Bitso forecasts that stablecoins could reach $1 trillion in annual payment volume by 2030, representing 10% of the U.S. money supply and holding 25% of the U.S. Treasury bill market with a $2 trillion supply.

The research suggests stablecoins can process payments up to 13 times cheaper than traditional banks, with instant settlement, creating what it calls a “new financial operating system” that removes intermediaries and accelerates global value exchange.

Market Growth and Macroeconomic Impact

• Stablecoin market surged from $4 billion in 2020 to over $280 billion in 2025.

• Monthly settlements reached $1.39 trillion in the first half of 2025.

• Major issuers now rank 17th globally in U.S. Treasury holdings — ahead of South Korea, Germany, and Saudi Arabia.

• Stablecoin inflows can influence Treasury yields, making issuers active players in bond markets.

Evolving Payment Infrastructure

The report highlights the “stablecoin sandwich” model:

1. Fiat on-ramp

2. On-chain stablecoin transfer

3. Fiat off-ramp

This structure replaces correspondent banks with programmable, instant settlement bridges.
Other innovations include:

• Virtual USD accounts — mimic U.S. bank accounts but run on blockchain.

• Self-custody options reducing reliance on local banking.

• Proprietary stablecoins launched by major fintech firms to control payment networks.

Programmability and New Applications

Programmable stablecoins could enable:

• Trustless escrow

• Automated corporate liquidity management

• Real-time payroll

• IoT micropayments based on sensor data

FX Market Disruption

The $7.5 trillion daily foreign exchange market is a prime target:

• On-chain FX enables instant, risk-free settlement (T+0, 24/7).

• Could eliminate pre-funding inefficiencies that tie up $27 trillion in global bank accounts.

• Stablecoin-powered platforms achieve far higher capital turnover than traditional money transfer operators.

Regulatory Tensions

• U.S. banking associations warn that yield-bearing stablecoins could trigger $6.6 trillion in deposit outflows, destabilizing banks.

• Banks are lobbying for tighter GENIUS Act restrictions.

• Coinbase and PayPal continue to offer rewards programs, claiming they are not issuers.

Cross-Border Adoption

• Stablecoins projected to facilitate 12% of global cross-border flows by 2030.

• Visa partners with Yellow Card Financial for stablecoin payments in 20 African countries.

• Mastercard integrates Chainlink to enable crypto purchases for 3 billion cardholders.

Bottom line: Stablecoins are rapidly evolving from niche digital assets to a core component of global finance, with the potential to reshape U.S. monetary policy, disrupt the FX market, and challenge traditional banking models.

@ Newshounds News™

Source: Cryptonews

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U.S. Treasury Reaffirms Plans for Strategic Bitcoin Reserve

Secretary Bessent walks back earlier remarks that rattled markets

U.S. Treasury Secretary Scott Bessent clarified Thursday that the department is still exploring budget-neutral ways to purchase Bitcoin for the nation’s Strategic Bitcoin Reserve — reversing comments made earlier in the day that had triggered a $55 billion market sell-off.

“Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world,’”
— Scott Bessent, via X

Bessent reiterated that Bitcoin forfeited to the federal government would remain the foundation of the reserve.

Market Impact

• Initial FOX Business interview was interpreted as Treasury abandoning Bitcoin purchases.

• Within 40 minutes, Bitcoin’s price fell from $121,073 to $118,886.

• Clarification later in the day eased concerns, but Bitcoin remained near $118,500.

Ongoing Strategy & Delays

• Strategic Bitcoin Reserve established by Executive Order (March 6), alongside a Digital Asset Stockpile.

• Reserve currently relies on seized crypto assets from criminal cases.

• Additional purchases require budget-neutral funding — meaning no extra taxpayer cost.

• Proposed funding ideas include:

• Reevaluating Treasury’s gold certificates.

• Using tariff revenue.

• Treasury has been in the “exploration” phase for five months, frustrating some industry leaders.

Criticism from the Crypto Sector

• Bitcoin mining firm Braiins CEO Eli Nagar criticized the slow pace:

“At some point, exploration without execution starts to look like avoidance.”

• Concerns persist that other nations could front-run U.S. Bitcoin accumulation.

Congressional Role

• Treasury may need Congressional approval for budget-neutral Bitcoin purchases.

• Sen. Cynthia Lummis urged lawmakers to advance her BITCOIN Act to facilitate the process.

No Plans to Sell

• Bessent confirmed that U.S. will stop selling its Bitcoin holdings.

• Estimated current holdings:

• 198,012 BTC (BitBo data).

• Valued between $15B–$23.5B depending on market price.

Bottom line: Despite market confusion, the Treasury’s Bitcoin strategy remains intact but slow-moving, with political hurdles and funding mechanics still unresolved. The U.S. remains one of the largest national holders of Bitcoin — but the pace of accumulation may determine whether it can meet its goal of becoming the world’s Bitcoin superpower.

@ Newshounds News™
Source: Cointelegraph

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Ripple CTO Says XRP Ledger Ready to Power the Future of Global Financial Infrastructure

Ripple CTO David Schwartz says the XRP Ledger (XRPL) is fully equipped to serve as a cornerstone of global financial systems, noting that Ripple has been building toward this vision for over 13 years.

In a detailed post on X, Schwartz addressed the recent wave of stablecoin and payment companies launching their own blockchains, viewing it as confirmation that blockchain has become essential to financial infrastructure. He stressed that while launching a blockchain is challenging, building a trusted ecosystem with liquidity, real-world adoption, and active developers is even harder — an area where XRPL has a long-standing advantage.

Key Differences and Advantages of XRPL

• Unlike some blockchains that use permissioned validators — placing control in a few hands — XRPL is public and permissionless by default, offering greater resilience and global reach.

• The network also supports optional permissioned features for regulated, compliance-driven use cases.

• Low, predictable transaction fees with no separate gas token; transactions are paid in XRP, which also acts as a bridge asset for cross-border payments.

Influence on Newer Chains
Schwartz noted that newer blockchains are beginning to adopt XRPL-inspired features such as deterministic finality and the Proof-of-Authority (PoA) consensus mechanism, which ensure predictable and reliable settlement — key for institutional financial applications.

Looking Ahead
The Ripple CTO anticipates upcoming XRPL upgrades will enhance programmability, expand liquidity, and add compliance-grade capabilities for institutions. He welcomed new blockchain developers to “the party,” framing the industry’s rapid expansion as a positive sign of mainstream adoption.

@ Newshounds News™
Source: The Crypto Basic

~~~~~~~~~

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Iraq Economic News and Points To Ponder Thursday Afternoon 8-14-25

Iraqi Banks Are Under Liquidation, And The Central Bank Remains Silent. 
 
August 14, 2025 Last updated: August 14, 2025  Al-Mustaqilla/- The Governor of the Central Bank of Iraq recently revealed that  10 Iraqi banks are facing liquidation  due to their inability to fully provide services to customers.
 
In addition, some banks are facing sanctions that prevent them from dealing in US dollars.

Despite the governor's announcement, the Central Bank has yet to publish an official list of these banks on its website,  raising questions about why this information has not been disclosed to customers and relevant authorities.
 
An informed source confirmed that the number of banks subject to liquidation may increase in the coming days,  given the    ongoing financial pressures and    operational difficulties facing some banking institutions.
 
This development comes at a time when the  Central Bank is seeking to  enhance financial stability and
protect customer funds, but it faces significant challenges in enforcing  transparency and
 accountability  for struggling banks.
 
Analysts suggest that not announcing the names of the banks may be aimed at   avoiding customer panic or    speculation on deposits, but it also   raises investor concerns and   raises questions about the effectiveness of banking oversight in Iraq.
 
As these developments continue, citizens and customers await a detailed official statement from the Central Bank  revealing the names of the affected banks and the measures taken to guarantee depositors' rights.https://mustaqila.com/10-مصارف-عراقية-تحت-التصفية-والبنك-المر/   

Compared To Last Year, Expert: Non-Oil Revenues Declined By 43.6%
economy | - 08/14/2025  Mawazine News - Baghdad -  Economic expert Nabil Al-Marsoumi revealed on Thursday that non-oil revenues in Iraq declined during the first half of 2025, reaching 4.951 trillion dinars, compared to 7.118 trillion dinars in the same period last year, a decrease of 2.167 trillion dinars, or 43.6%.

Al-Marsoumi said in a post on his Facebook account, followed by Mawazine News, that "this decline is the result of lower revenues from income and wealth taxes and fees," noting that "planned non-oil revenues in the three-year budget amounted to 27 trillion dinars, which means a large gap between planned and actual revenues by the end of the year, which will lead to an increase in the actual deficit in the general budget."

He added that "the data showed a decline in the contribution of non-oil revenues to general revenues to only 8%, compared to 11% in the first half of 2024, a percentage far from the government's target of 20%."   https://www.mawazin.net/Details.aspx?jimare=265088

Why Have Non-Oil Revenues Declined In Iraq? Nabil Al-Marsoumi Answers.
 
August 14, 2025  Baghdad/Iraq Observer  Economist Nabil Al-Marsoumi explained the  decline in non-oil revenues in Iraq during the first half of 2025,  after recording a modest figure of 4.951 trillion dinars, compared to 7.118 trillion dinars in the first half of last year,    a decrease of 2.167 trillion dinars, or a decrease of 43.6%.

He attributed this decline to a decline in revenues from income and wealth taxes and fees. 
He explained in a post on his Facebook account that planned revenues in the three-year budget amounted to 27 trillion dinars, and therefore the gap between planned and actual non-oil revenues will be large at the end of the year,   thus increasing the actual deficit in the general budget. 

He stressed that this decline in non-oil revenues led to a decrease in their contribution to public revenues to only 8%, while they contributed 11% during the same period in 2024. This percentage is far from the target number in the government program, which is 20%.     https://observeriraq.net/لماذا-تراجعت-الإيرادات-غير-النفطية-في/   

Development Plan 2024–2028: Iraq Moves Towards A Productive Economy With Revenues Exceeding 700 Trillion Dinars

Reports  Economy News – Baghdad  In one of the most significant economic transformations in recent years, the Iraqi government has begun implementing the National Development Plan for 2024–2028. The plan aims to transform the national economy by diversifying sources of income and reducing dependence on oil, while also addressing unemployment and boosting investment in vital sectors.

The plan, supported by a clear government vision and political will, includes profound structural reforms and precise performance indicators that are monitored periodically. This comes at a time when projected revenues are estimated at more than 710 trillion Iraqi dinars and investments exceeding 240 trillion dinars are required to achieve its goals.

While the Ministry of Planning emphasized the importance of capital allocation and investment in priority sectors, government agencies viewed the plan as a true economic lever, while economic experts considered it one of the most realistic and comprehensive plans for addressing Iraq's development challenges.

For his part, the Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Mohammed Saleh, highlighted the importance of the five-year national development plan for the years 2024–2028.

Speaking to Al-Eqtisad News, Saleh emphasized that the five-year plan reflects a genuine national determination to achieve significant goals in economic progress and prosperity, noting that it relies on population census data to accurately and efficiently guide its implementation.

He added that the plan's fundamental objective is to implement profound structural reforms, transforming it from a mere written document into an economic lever capable of transforming the production and employment equation and transforming Iraq from a rentier economy to a productive and competitive one, provided it is managed efficiently as a comprehensive national mission.

The advisor pointed out that the success of the five-year plan requires a combination of institutional, financial, and executive components, most notably political will embodied in the government program, with direct support from senior leadership, which has worked to protect planning institutions from fluctuations.

He also stressed the importance of providing a binding legislative and regulatory framework to transform the plan into a law that defines objectives, resources, and responsible parties, in addition to ensuring sustainable and diversified funding consisting of oil revenues, private investments, and soft development loans.

Clear performance indicators and periodic monitoring

Saleh explained that the plan relies on precise governance and continuous monitoring based on key performance indicators (KPIs), which are reviewed semi-annually to ensure commitment and actual implementation of projects.

According to Al-Sudani's advisor, the most prominent targeted indicators include "annual GDP growth of no less than 5%, an unemployment rate of no more than 8% annually, an inflation rate of no more than 5%, and a petrochemical sector contribution of 5% to GDP."

He pointed to increasing oil production to 6 million barrels per day, utilizing associated gas by 90%, and increasing the contribution of non-oil sectors to more than 50% of national income. The plan also includes indicators related to the manufacturing, health, education, and infrastructure sectors.

Professional Management and Community Engagement

Saleh added that an important success factor is the formation of specialized implementation teams to manage projects according to international standards (PMI), without quotas or regional distribution. He emphasized the importance of civil society and private sector participation in formulating and implementing the plan, including chambers of commerce and industry and unions.

He concluded by stating that the five-year plan represents a fundamental pillar of sustainable development in Iraq, and requires concerted efforts and genuine national commitment to ensure its transformation into a tangible reality that is reflected in citizens' living standards and overall economic growth.

In addition, the Ministry of Planning announced that the total revenues expected to be achieved during the five-year development plan period (2024-2028) amount to approximately 710 trillion Iraqi dinars.

The ministry's official spokesperson, Abdul Zahra Al-Hindawi, told the official agency that the largest portion of these revenues will come from the oil sector, with oil revenues expected to reach approximately 631 trillion dinars, while non-oil revenues are estimated at approximately 79 trillion dinars.

Al-Hindawi added that the five-year plan estimated the volume of investments required to achieve the targeted economic growth rate of 4.24% during its implementation period at more than 241 trillion dinars.

Meanwhile, economic researcher Ali Daadoush asserted that the recently prepared five-year plan is one of the best studies to address the reality of the Iraqi economy, addressing key economic challenges and presenting future investment opportunities to advance the country's development.

In an interview with Al-Eqtisad News, Daadoush explained that the plan sets ambitious macroeconomic trends, most notably achieving a targeted growth rate of 5% to 6% on an annual average, in addition to targeting natural inflation, stabilizing the exchange rate, and reducing the general budget deficit.

He pointed out that the plan focused on productive sectors, particularly agriculture and food industries, by adopting modern irrigation systems and strategic crops with high water returns, and by establishing specialized logistics and manufacturing zones for dates, grains, poultry, and dairy products, with the aim of enhancing import substitution and increasing local added value.

According to Daadoush, the plan also addressed challenges in other sectors, such as the digital economy, payment systems, and financial sector reform, along with private sector development and increased employment opportunities.

A "single window" approach was adopted to remove regulatory barriers (such as licenses, taxes, and industrial land allocation) within a period not exceeding 72 hours, in addition to linking technical education to the needs of priority sectors.

Regarding the components of the plan's success, the researcher stressed the importance of having clear governance and issuing a playbook for projects that includes the stages of selection, financing, implementation, monitoring, and evaluation, in addition to shifting from item budgets to program and performance budgets, so that each plan includes a program with performance indicators, a direct supervisor, a specific budget, and clear outputs.

Daadoush concluded his remarks by emphasizing the need to enact a law mandating the implementation of the national plan, in conjunction with the general budget and the government program. He considered this tripartite integration to be the cornerstone of sustainable development in Iraq.

The Ministry of Planning believes that the largest share of capital formation will be allocated to the oil sector, at 27.4%, followed by the housing ownership sector, at 22.5%, and then social development services, at 20.8%.

She pointed out that "the water and electricity sector will constitute 8.6% of the total planned capital formation, while the manufacturing sector's share will be approximately 7.8%." https://economy-news.net/content.php?id=58786

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 8-14-25

Good Afternoon Dinar Recaps,

Washington Extends 90-Day Trade Truce With Beijing

The United States has extended the 90-day tariff truce with China, with President Biden signing a decree on August 11 to set a new deadline of November 10. While the extension prevents an automatic increase in customs duties, existing surcharges remain in place. This move provides more time for both sides to continue negotiations.

Washington and Beijing extend the 90-day trade truce until November 10, maintaining current surcharges

• Gold remains exempt from taxes, but other surcharges stay in effect

• Discussions continue, with the U.S. pushing for more Chinese purchases of agricultural products

Content and Scope of the Extension

On August 11, the United States officially announced, via presidential decree, the 90-day extension of the trade truce. The suspension of tariff hikes will now last until November 10.

This measure halts planned increases that were set to take effect at the original deadline and keeps current tariff rates unchanged:

• 30% on Chinese imports

• 10% on American exports

The move builds on the May agreement reached in Geneva, which initially implemented a 90-day pause in tariff escalation.

China’s state news agency, Xinhua, confirmed that Beijing will apply the same extension, aligning its trade position with Washington. Both sides will continue using the dialogue framework set up in the spring, which has helped freeze tariff increases while keeping pressure on unresolved issues.

Importantly, no changes have been made to the existing tariff framework, offering short-term commercial stability.

Negotiations and Market Impact

Since May, multiple rounds of talks have taken place in Geneva, London, and Stockholm. U.S. officials note that China has taken “significant steps” toward addressing American economic and national security concerns. Negotiations remain constructive, though the U.S. is pressing for concrete concessions, especially in agricultural trade — with soybeans as a top priority.

Beijing has signaled its desire for a “positive outcome based on equality and mutual benefit.”

The extension provides businesses and markets with temporary clarity. Importers and exporters can plan operations under the current tariff structure until November 10, reducing uncertainty in the short term.

The U.S. decision to keep gold exempt from new duties has eased investor concerns, stabilizing gold prices after speculation about possible taxation.

However, other surcharges — including those on steel, aluminum, and select industrial goods — remain in place. If no agreement is reached by November 10, new tariffs could be implemented, forcing companies to prepare for multiple trade scenarios.

@ Newshounds News™
Source: Cointribune

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De-Dollarization Accelerates: Russia, China & India Embrace Crypto for Oil Trade

A new chapter in global energy commerce is unfolding as Russia, China, and India abandon U.S. dollar payments in favor of cryptocurrency settlements for oil transactions. This shift—driven by sanctions pressure and technological innovation—marks a significant step in the BRICS de-dollarization strategy, reshaping both trade mechanics and global finance.

A New Payment Architecture

Russia has developed blockchain-based payment systems enabling energy exports to be settled in Bitcoin, Ethereum, and Tether (USDT).

• Buyers convert local currencies such as Chinese yuan or Indian rupees into crypto.

• Payments bypass the SWIFT banking network, reaching Russian exporters directly.

• The approach is already being applied in an “experimental regime” for a portion of Russia’s $192 billion in annual energy exports.

Russian Finance Minister Anton Siluanov confirmed:

“It is possible to use bitcoins mined here in Russia for foreign trade transactions. Such transactions are already occurring… they should be expanded and developed further.”

Strategic Consequences for Global Finance

• Petrodollar Erosion – Moving oil trade away from USD undermines the traditional dollar-dominated settlement system.

• Sanctions Workarounds – Direct crypto payments weaken U.S. control over energy trade flows.

• Blockchain Integration Pressure – Global finance may need to adapt to crypto-native settlement rails.

This model could evolve into blockchain-native commodity platforms, where tokenized physical assets—like oil—are traded entirely on-chain.

Risks & Challenges

Despite its potential, the crypto oil trade carries:

• Price volatility in crypto assets.

• Regulatory fragmentation and legal uncertainty.

• Cybersecurity threats to large-value international transfers.

A Precedent for Future Energy Commerce

If successful, the Russia-China-India crypto oil trade could inspire other nations to adopt non-dollar settlement models, accelerating the transition toward multi-currency, blockchain-powered energy markets—and marking one of the sharpest challenges yet to U.S. financial dominance.

@ Newshounds News™
Source: Watcher Guru

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Iraq Economic News and Points To Ponder Late Wednesday Evening 8-13-25

Between Stifling Cash Flow And Lost Confidence, Iraq Faces A Banking Reform Battle To Save Its Economy.
 
Economy Yesterday, | 558  Baghdad Today – Baghdad   Financial and economic expert Ahmed Al-Tamimi stressed, on Wednesday (August 13, 2025), that  reforming the banking system in Iraq has become an urgent necessity  to address the deep structural challenges that hinder the growth of the national economy. 

Al-Tamimi told Baghdad Today that  "excessive reliance on cash transactions,weak digital infrastructure, and  limited financial inclusion have hindered private sector growth and limited opportunities for citizens,"  stressing that the required reform must be "radical and urgent."

 He explained that  the reform plan should include updating technological systems, strengthening banking oversight, developing anti-money laundering mechanisms, adopting global governance and transparency standards, and rebuilding trust between banks and the public,
describing this step as "the cornerstone of any successful reform." 

Al-Tamimi added, "Reforming the banking system is not a luxury, but an economic and security necessity.
 
It requires the government and the Central Bank, in coordination with international institutions,
to adopt a comprehensive vision to ensure the development of a banking sector capable of keeping pace with global developments and supporting economic development in the country."
 
Iraq's banking system has suffered for years from deep structural imbalances,
most notably its near-total reliance on cash transactions, weak digital infrastructure, and limited financial inclusion.
 
These have slowed private sector growth and reduced investment opportunities.
 
The trust gap between the public and banks has been exacerbated by  weak governance and transparency, the   absence of strict oversight, and the prevalence of phenomena such as
 money laundering and   financial corruption.
 
Economists believe that despite attempts by the Central Bank and the government to launch partial reforms, the lack of a comprehensive vision and effective coordination with international institutions has prevented tangible change.
 
This comes at a time when economic and security pressures are mounting, making banking sector reform a crucial step to keep pace with global developments and support the national economy.      https://baghdadtoday.news/280659-.html 

CBI Selects Oliver Wyman To Develop The Banking Reform Plan
 
Iraq  Amr Salem   August 13, 2025   315   The Central Bank of Iraq. Photo: AFP Baghdad (IraqiNews.com) – Officials from the Central Bank of Iraq (CBI) met on Tuesday with representatives from Oliver Wyman,   a global management consulting firm,  to discuss a banking reform proposal offered by the   Iraqi Private Banks League (IPBL) to  modernize Iraq’s banking industry and  align operations with worldwide practices.

The CBI mentioned in a statement that Governor Ali al-Alaq and a specialist team met with representatives from Oliver Wyman to review the details of the IPBL’s proposal,
     the state-run news agency (INA) reported.  Al-Alaq acknowledged that the
 
CBI had held an in-depth discussion during which participants indicated
     comprehension of the plan’s key aspects and
     how certain elements might be flexibly changed to enable implementation processes.
 
The strategy intends to stabilize the banking sector  so that it can function securely and effectively in accordance   with international norms and standards, as well as local legislation, while also strengthening   governance,  compliance, and  risk management.
 
The strategy also allows banks  to perform an economic role that promotes growth     while providing the most effective services possible. The CBI noted that adopting the strategy will boost local and international trust in Iraq’s banking industry.     https://www.iraqinews.com/iraq/cbi-selects-oliver-wyman-to-develop-the-banking-reform-plan/  

Iraq And Its Economic Role
 
Economic 2025/08/12  Mohammed Hassan Al-Saedi   Iraq possesses significant economic potential that qualifies it to play a pivotal role in the region's economy.
 
However, this role has been fluctuating and declining over the past decades due to wars, corruption, and mismanagement.
 
Today, with regional and international transformations, attention is turning to Iraq as a potential economic player,capable of exerting influence not only through its geographic influence,
but also through its wealth, human capital, and unique strategic location linking the Arabian Gulf,
the Levant, Turkey, and Iran.
 
Natural resources are the foundation of this economic role,
as Iraq ranks fifth in the world in terms of proven oil reserves.
 
Its oil exports are the primary source of national income, and Iraqi oil constitutes a fundamental element of regional energy security.
 

Several neighboring countries, such as Jordan and Turkey, rely on Iraqi oil,
     whether through pipelines or direct exports.
 
However, the Iraqi economy suffers from "rentierism," as it relies almost entirely on oil revenues,  making it vulnerable to fluctuations in global market prices and  limiting its ability to exert economic influence beyond this framework.
 
Despite Iraq's vast mineral, agricultural, water, and population resources,   weak investment and
 rampant corruption  have prevented these resources from being transformed into economic strengths.
 
Iraq's geographical location  represents a major gateway for trade and transit, and
     is one of the most significant elements of its potential economic strength.
 
It forms a natural corridor between the Gulf and the Levant, and
     possesses an important sea outlet to the Arabian Gulf via the port of Umm Qasr.
 
It could also become a major hub for regional land and rail trade routes,
     particularly in light of the "Development Road" project, which aims
          to connect the Grand Faw Port to Turkey and Europe via a modern transportation network.
 
If implemented, this project will provide a vital alternative to traditional trade routes and position Iraq strategically on the regional and international economic map.
 
However, it still requires effective regional partnerships and legal guarantees to attract investment and implement the required infrastructure.
 
On the economic front, Iraq seeks to strengthen cooperation with neighboring countries,
particularly Saudi Arabia, Iran, Turkey, and Jordan, through electricity interconnection projects, trade exchange, and joint industrial zones.
 
These initiatives are part of a drive to reduce reliance on the single market, diversify sources of income, and restore a balanced economic role.
 
However, these relations are often affected by political conflicts and regional tensions, which weakens Iraq's ability to impose its economic priorities or create a sustainable cooperative environment.
 
For Iraq     to become a leader and     an effective regional economic player,fundamental transformations are necessary in the country's economic and administrative structure,  beginning with institutional reform and combating corruption,  moving on to modernizing infrastructure, and  culminating in developing a clear strategic vision for the national economy, based on diversification and openness.

Restoring regional and international confidence in Iraq as a safe investment environment requires
  political stability,    an impartial judiciary, and    flexible economic legislation,which can be achieved with serious political will.
 
Iraq is not a resource-poor or weakly influential country; rather, it is rich in natural and human potential and a strategic location.
 
However, activating these elements and transforming them into tools of regional economic influence requires a comprehensive renaissance in thinking, policies, and management.
 
A stable, open Iraq with an economy free from corruption can be a major economic player in the region, 
not merely an arena for conflict or a marketplace for others.    https://alsabaah.iq/118881-.html  

Kurdistan And Self-Sufficiency
 
Economic 2025/08/13  Yasser Al-Mutawali  With every visit to the Kurdistan Region, I discover a unique phenomenon:  the region is advancing with confident steps and achieving successes on the ground.
 
Perhaps one of my interests as a journalistic observer of economic phenomena,
within my specialization in economic journalism, is to identify everything new and useful to serve as a model for an important experience that can be utilized for generalization at the level of Iraq.
 
This is the best way to benefit from the experiences of others in a single environment and a single country, and certainly in specific aspects.
 
However, this does not mean not benefiting from successful experiences around the world in other aspects.
 
The developments that I observed during the ten days I spent recently are in addition to what I have followed since the period of change after the year (2003) during my continuous visits to the region and
 
I wrote a lot about them in the economic page of Al Sabah newspaper and described it as a model experience.
 
This model is embodied by the significant development in the fields of construction, development, services, organization, and cleanliness, all framed by a strict law against any violations of regulations.
 
This is an indicator of a civilized phenomenon and a civilized model that we have always called for emulation, foremost among which is the traffic system, as it is the umbrella of the law.

Security stability was one of the most important reasons for achieving this exemplary development.
 
This is true, and it was the argument used by the governorate administrations when demanding the achievement of such a model.
 
Now that stability has been achieved, the argument for achieving this model has fallen, of course.
 
Now the discussion will be limited to food self-sufficiency, as food security is the ultimate goal in the face of global crises,
 
in which food is often used as a weapon to maintain citizens' livelihoods.
 
In this regard, we point to a recent example of the use of food as a weapon,
namely the Russian-Ukrainian war, which saw Europe cut off strategic grain supplies.
 
My focus here is on achieving food self-sufficiency, which is a logical consequence of this stability.
 
In the markets of vegetables, red and white meat, you find a difference in prices of about (25) percent compared to the rest of the governorates of Iraq and (35) percent compared to the prices in the capital, Baghdad.
 
Thus, you find that the purchasing power in the region is able to easily acquire its sustenance despite the challenges of (delaying salaries) for reasons that we are not concerned with regarding the delay here.
 
Along the vast expanses of the region's entrances, you can see farms irrigated using modern irrigation techniques, and vegetables filling the springs.
 
You can also see factories manufacturing feed for model livestock, advanced food industries, dairy products, and packaging factories that cover the region's need for poultry meat, eggs, dairy products, and locally manufactured foods, with a surplus exported to the center and sometimes to neighboring countries.
 
The region is also known for its abundant production of strategic crops,
including wheat, corn, barley, and fodder crops, using modern and advanced agricultural methods.
 
There are signs that this is being achieved in a number of Iraqi cities following the recent stability.
 
This is not all, there is much more to talk about, and this is what the article allowed for.
 
That's why we said, "Kurdistan is a model of self-sufficiency."
 
We hope to benefit from this model in the rest of Iraq, so that we can be proud of our national production, achieve our food security, and dispense with any imports, and even export the surplus.     https://alsabaah.iq/118956-.html  

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 8-14-25

Good Morning Dinar Recaps,

Singapore Accelerates Tokenization with XRPL at the Core of Real-World Finance

Singapore is rapidly establishing itself as a global leader in digital assets and blockchain innovation, driving large-scale tokenization initiatives from pilot projects to real-world implementation.

From Pilot to Full-Scale Deployment

At the November 2024 Layer One Summit, Leong Sing Chiong, Deputy Managing Director at the Monetary Authority of Singapore (MAS), highlighted the country’s accelerating momentum in tokenized financial services.

• Project Guardian, alongside other initiatives, is advancing from Proof of Concept to full implementation in 2025.

• The Guardian Wholesale Network Industry Group, comprising Citi, HSBC, Schroders, Standard Chartered, and UOB, is pushing collaborative infrastructure.

• Global Layer One (GL1), launched by MAS with financial heavyweights such as BNY Mellon, Citi, J.P. Morgan, MUFG, and Societe Generale-FORGE, aims to build “public permissioned” infrastructure for commercial networks, with HSBC and Euroclear later joining.

The International Capital Market Association (ICMA) now leads Project Guardian, transitioning from experimental pilots to establishing core infrastructure for Real World Assets (RWAs).

Notably, MAS and Standard Chartered tokenized $500 million in trade finance assets in 2022, and Singapore has since approved stablecoins from Paxos and StraitsX.

XRPL’s Expanding Role

Singapore’s push for compliance, security, and efficiency is drawing major institutions toward public blockchains like the XRP Ledger (XRPL). The platform’s features — such as digital identity security, fraud reversal, and regulatory alignment — have positioned it as a preferred choice for tokenization projects.

Key figures underscore XRPL’s growth:

• Tokenized RWA value on XRPL rose from under $5 million at the start of 2025 to $118 million by June 2025.

• Ripple was ranked the 23rd most valuable private company, further boosting XRPL’s global profile.

Global fintech incubator Tenity recently partnered with Ripple to accelerate XRPL-based startups in Singapore. Ripple APAC Managing Director Fiona Murray sees this as a catalyst for new talent and scalable use cases, reinforcing Singapore’s blockchain leadership.

Investment and Adoption Trends

In 2024, Singapore attracted $750 million in FinTech investments — representing 60% of the nation’s total sector funding. XRP ranks among the most popular cryptocurrencies in the country, accounting for 17% of Singaporeans’ crypto holdings.

While fostering innovation, Singapore maintains strict oversight, enforcing licensing requirements for crypto firms to ensure market integrity.

@ Newshounds News™
Source: Crypto News Flash   

~~~~~~~~~

Western Union Is Preparing to Launch Its Own Stablecoin

Western Union Co is reportedly exploring the launch of its own dollar-backed stablecoin as more cryptocurrency projects challenge its long-standing role in moving money across borders.

“We are exploring the opportunity for us to issue a stablecoin, particularly in non-US markets,”
– CEO Devin McGranahan

McGranahan explained that it could be “almost like a savings account in US dollars” for customers in countries where local regulations allow it.

Why the Sudden Push for a Stablecoin?

• This development comes just weeks after the U.S. government passed laws to bring stablecoins into the financial mainstream.

• For remittance companies, this shift is critical—many new crypto-driven projects promise to make sending money faster and cheaper.

• Currently, Western Union sends money via partner banks in different countries—a process that can take two to three days to reach recipients.

• A stablecoin could speed up transactions and eliminate reliance on traditional banking links.

Competitive Pressure in the Remittance Market

• PayPal has already launched a dollar-backed stablecoin and integrated it into its remittance service, Xoom.

• Circle (issuer of USDC) is expanding globally via bank and fintech partnerships.

• MoneyGram now allows customers to send USDC and may soon use stablecoins for internal operations.

• Remitly has launched a multi-currency wallet supporting both fiat and digital currencies, teaming up with Bridge (recently acquired by Stripe) to enhance stablecoin adoption.

Western Union’s Financial Pressure

• Shares have dropped about 27% since January 2025, placing the company under market pressure.

• Analysts at Capstone have suggested that industry changes could make Western Union a buyout target for a major crypto company like Circle, which went public in June.

• McGranahan commented:

“If someone came and offered us the appropriate value that we believe the company is worth, we obviously would entertain that.”

Potential Partnerships and Strategic Goals

• Western Union may partner with major players in the crypto industry rather than building the stablecoin alone.

• The goal: give remittance recipients the option to hold funds in a stable currency like the U.S. dollar, avoiding the need to convert all funds into potentially volatile local currencies.

• McGranahan noted the stablecoin could serve as a bridge between digital finance and traditional banking, enabling smooth movement between the two systems.

@ Newshounds News™
Source: CryptoTimes

~~~~~~~~~

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MilitiaMan and Crew: Iraq Dinar News Update-Central Bank of Iraq Speaks Loudly

MilitiaMan and Crew:  Iraq Dinar News Update-Central Bank of Iraq Speaks Loudly

8-13-2025

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

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

https://www.youtube.com/watch?v=ogRHBWt-dPk

Iraq Economic News and Points To Ponder Wednesday Afternoon 8-13-25

The Iraqi Government Denies Any Intention To Devalue The Dinar Against The Dollar

Local   The Iraqi Prime Minister's economic advisor, Mazhar Mohammed Salih, denied the government's intention to adjust the exchange rate by devaluing the Iraqi dinar against the US dollar to provide liquidity. "Iraq's exchange rate policy is a contractual one between the Ministry of Finance and the Central Bank of Iraq," Saleh said in an interview with Al-Eqtisad News. "This is because the reserves supporting the Iraqi dinar reinforce the external value of the currency, meaning that the dinar, backed by foreign currency, comes from oil revenues."

He explained that "this is called foreign exchange covered by foreign currency," noting that "the last thing the Iraqi government is thinking about is changing the exchange rate, because the policy of changing the exchange rate every so often is bad policy, so it is preferable for the exchange rate to remain officially stable in this manner."

Mazhar Mohammed Saleh believes that "oil is a global commodity that is not affected by the dinar's devaluation, increase, or otherwise. At the same time, this constitutes inflationary financing through deceiving people, and this is not true." He considered the policy of devaluing the dinar to be "dangerous and not easy, while the state is constantly working to raise and improve the dinar's value, not to devalue it."

He stressed that "the right thing to do is to keep the exchange rate as low as possible, unless the economy is exposed to major emergencies, which I don't expect to happen, as long as the economy is oil-based and generates foreign currency flows.

" He believed that "there are no such plans, neither now nor after the elections, and no one is thinking about this matter in light of the current circumstances and the constants and variables of the current situation."

He continued, "There is no economic policy that tends to fluctuate between depreciation and appreciation of the exchange rate."

He stated that "the exchange rate and the Iraqi dinar have been stable for very long periods, so manipulating the exchange rate is a bad and incorrect policy. The correct policy is to maintain the status quo and thus maintain overall stability so that development, investments, and plans can be sustained."

Mazhar Mohammed Saleh also stated that "the worst type of financing is inflationary financing resulting from the devaluation of the Iraqi dinar, as economic literature suggests, which means deducting from citizens' income by reducing real income to a valueless cash income."

Regarding the easiest ways to address the liquidity shortage, Mazhar Mohammed Saleh explained that "the financial system should be improved by improving revenues." https://economy-news.net/content.php?id=58757

Baghdad And Erbil Reach Agreement On Oil Export Mechanism; Resumption Contingent On Iraq's Talks With Türkiye

Economy | - 08/13/2025  Mawazine News - Baghdad –  The Ministry of Natural Resources in the Kurdistan Region of Iraq announced on Wednesday that it had reached an agreement with the federal Ministry of Oil regarding the mechanism for exporting oil.

The ministry said in a statement received by (Mawazine News) that "the minutes of the agreement were signed by 23 figures from the delegations of both sides, including 17 members of the Iraqi Ministry of Oil delegation."

The statement added, "The meetings began on July 17, and during this period, visits were made to all of the region's fields. After evaluating technical problems and conducting intensive negotiations, an agreement was reached on August 11 on the mechanism for exporting oil from the Kurdistan Region's fields, so that oil would be delivered according to the daily production of the region's fields, after reserving 50,000 barrels to cover local needs in the region, and the remainder would be delivered to the SOMO Marketing Company."

It indicated that "the resumption of oil exports from the Kurdistan Region will remain contingent on the federal government's talks with the Turkish government, so that the process can be effectively implemented."  https://www.mawazin.net/Details.aspx?jimare=265033

The Securities Commission Details Its Achievements Over The Past Two Years: Listing 19 Companies And Issuing A Governance Guide

Local   The Securities Commission detailed its achievements in 2024 and 2025 on Wednesday, affirming its commitment to developing the investment environment and enhancing transparency in the Iraqi financial market.

In a statement, the commission said, "Within the framework of enhancing international cooperation and developing the operations of the Iraq Stock Exchange, the Iraqi Securities Commission, under the leadership of its chairman, Faisal Al-Haimus, achieved notable accomplishments during 2024 and 2025."

The commission added that it "worked to list 19 new companies on the Iraq Stock Exchange during 2025, in a significant step that contributed to diversifying the base of listed companies and enhancing the market's attractiveness to local and international investors."

She continued, "A corporate governance guide for listed companies has been issued, which contributes to enhancing transparency and good practices in corporate governance." She added, "We are also working to update trading mechanisms in cooperation with regional financial markets, which contributes to developing the infrastructure of the Iraqi market."

She added, "Agreements have been concluded with the Egyptian Financial Markets and the Abu Dhabi Securities Exchange, with the aim of exchanging expertise and enhancing transparency and digital transformation in the Iraq Stock Exchange."

The Commission added, "The Iraqi Securities Commission received the 2025 Arab Banking Excellence and Achievement Award from the World Union of Arab Bankers, in recognition of its prominent role in supporting the Iraqi banking sector and developing its services to meet market requirements."

The Commission affirmed, according to the statement, its "continued efforts to enhance the investment environment in Iraq, which will contribute to attracting local and foreign investments and enhancing investor confidence in the Iraqi financial market."   https://economy-news.net/content.php?id=58754

Al-Sudani: Iraq's Investments Exceeded $100 Billion In Two Years.

Money and Business   Prime Minister Mohammed Shia al-Sudani confirmed on Wednesday that Iraq's investments in two years have exceeded $100 billion.

The Prime Minister's media office said in a statement that "Prime Minister Mohammed Shia al-Sudani received, on Wednesday, representatives of the coalition of six companies that have applied to rehabilitate, develop and operate Baghdad International Airport, in the presence of representatives of the International Finance Corporation (IFC), which is advising the Ministry of Transport on the project."

The Prime Minister blessed "the holding of the conference to review the projects of the IFC, which is an important partner with Iraq in joint work and the implementation of many projects in various stations and sectors," appreciating "its efforts in completing the work in a manner befitting Baghdad International Airport, given its importance to Iraq, which is witnessing a state of recovery, stability, development and reconstruction movement in all governorates."

He stressed that "Iraq's distinguished geographical location has prompted us to invest in air transport, aircraft transit and service to passengers," noting "the existence of many government projects in this field."

He stressed that "Iraq is currently attracting significant Arab and foreign investments in various sectors, exceeding $100 billion over the two years of the government's term." He explained that "Baghdad Airport is a showcase for the capital, and must receive the necessary rehabilitation and development, as well as management that provides services and generates revenues."

He indicated that "there is a real and clear opportunity to increase the number of passengers from abroad to Baghdad," pointing to "the need to reconsider the management style of the government sector, in airports and most sectors."

He stressed that "the opportunity is available at Baghdad Airport, and at the airports of Najaf, Basra, Nasiriyah and Mosul, and we have chosen successful experiences in the region for managing and operating airports," noting that "we have contracted with the International Finance Corporation (IFC) to work as a specialized advisory body to prepare the investment portfolio for the development and operation of Baghdad Airport."

The Prime Minister welcomed "all Arab and foreign companies in Iraq, as a message that it is a safe and attractive environment for investment," noting that "the government will provide support, assistance and all facilities for the companies' work."

He explained that "the project to rehabilitate, develop and operate Baghdad Airport is based on a desire to find the best coalition, company or investor that can provide a successful model for the airport." https://economy-news.net/content.php?id=58755

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

This Looks like 2007, Markets at a Critical Tipping Point

This Looks like 2007, Markets at a Critical Tipping Point

Wealthion:  8-12-2025

The financial markets stand at a precarious crossroads, with investors grappling with the existential question: are stocks poised to power to new, unprecedented highs, or are we teetering on the brink of a painful bear market?

According to Chris Vermeulen, founder of TheTechnicalTraders, the answer isn’t simple, but the signals are flashing a critical tipping point.

In a recent in-depth interview with James Connor on Wealthion, Vermeulen laid out a comprehensive technical analysis across major asset classes, warning that while opportunities exist, the underlying market weakness masked by a few dominant players could spell trouble.

One of Vermeulen’s most striking warnings is the uncomfortable parallel he draws between the current market environment and the period leading up to the 2007 top.

 He suggests that the market’s current structure, where a small group of mega-cap tech stocks – famously dubbed the “Magnificent Seven” – are driving much of the broader market’s gains, is creating a deceptive illusion of strength.

Beneath the surface sparkle of these tech giants, Vermeulen sees widespread weakness that is reminiscent of past market tops.

Amidst the swirling uncertainty, Vermeulen emphasizes a crucial strategy: avoiding the Fear Of Missing Out (FOMO) and waiting for clear confirmation signals.

He believes that blindly chasing recent gains in a concentrated market is a recipe for disaster. Instead, his approach centers on patience, allowing technical indicators to provide unambiguous direction before committing capital.

The current market dynamic, according to Vermeulen, poses particular risks for retirees and long-term investors. The potential for a significant market correction, coupled with the deceptive strength of a few stocks, could erode portfolios built on traditional long-term strategies if not carefully managed. His analysis underscores the need for vigilance and a deep understanding of underlying market mechanics, rather than simply relying on headline index performance.

Chris Vermeulen’s insights provide a sobering yet crucial perspective on the current financial landscape. His emphasis on technical signals, avoidance of FOMO, and detailed breakdown of various asset classes paints a picture of a market at a critical crossroads, demanding careful consideration and strategic positioning from all investors.

For a comprehensive understanding of Chris Vermeulen’s technical signals and further insights into his market outlook, watch the full interview on Wealthion.

https://youtu.be/ImuHBl9uhgg

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 8-13-25

Good Afternoon Dinar Recaps,

Brazil Leads BRICS Toward Historic Common Currency Launch by 2026

The BRICS common currency initiative is entering its most advanced phase yet, with Brazil spearheading efforts toward what analysts forecast as a potential 2026 launch. Recent developments include progress on digital payment systems, expanded local currency settlements, and blockchain-based infrastructure — positioning the project as a direct challenge to U.S. dollar dominance.

Momentum Builds After 2024 and 2025 Summits

• 2024 BRICS Summit in Kazan saw major breakthroughs in monetary cooperation. Russian President Vladimir Putin was seen with what appeared to be a prototype BRICS banknote.

• Putin emphasized that BRICS is not rejecting the dollar outright but is seeking alternatives due to restrictions on its use:

“If they don’t let us work with [the dollar], what can we do? We have to look for other alternatives, which is happening.”

• 2025 Brazil Summit maintained currency momentum despite some high-profile absences. Analysts now view 2026 as a realistic target for the rollout, with digital settlement mechanisms being implemented across member nations.

U.S. Tariffs Accelerate De-Dollarization

• U.S. tariffs on Brazilian exports under the Trump administration have intensified BRICS’ push for a shared currency.

• Brazilian President Luiz Inácio Lula da Silva and Chinese President Xi Jinping have pledged deeper cooperation to resist “unilateralism and protectionism.”

• Diplomatic strains escalated after Brazil’s Finance Minister canceled a meeting with the U.S. Treasury Secretary.

Economic Benefits and Strategic Impact

• Reduced dollar dependency and greater transaction efficiency are top economic drivers for the BRICS currency project.

• Iranian Ambassador to Russia Kazem Jalal stressed that the initiative would help member nations bypass the impact of U.S. sanctions.

• Integration of blockchain technology and central bank digital currencies (CBDCs) is advancing, enabling a modern settlement framework.

2026 Implementation Path

Brazil’s leadership is focused on aligning monetary policies, inflation management, and payment infrastructure across BRICS members. Despite varying economic conditions, the bloc is consolidating around shared frameworks to ensure the currency’s successful rollout.

@ Newshounds News™
Source: Watcher Guru    

~~~~~~~~~

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Iraq Economic News and Points To Ponder Wednesday Morning 8-13-25

A Banking Disaster... 10 Iraqi Banks Are Under The Guillotine! 

August 13, 2025  Al-Mustaqillah/- In a dangerous development that exposes the fragility of the Iraqi banking system,  Central Bank Governor Ali Al-Alaq announced on Tuesday that  10 Iraqi banks are now subject to liquidation after being unable to return customer deposits.
 
This development raises serious questions about the future of the country's financial sector.

Al-Alaq revealed that 80% of Iraqi currency remains locked away from banks due to a lack of trust in the banking system,  reflecting a long-standing failure to restore public confidence.
 
According to informed sources, this liquidation is not merely an "administrative reform,"
but rather comes amid stifling US pressure and sanctions targeting a number of Iraqi banks on charges related to illegal transfers, rendering them unable to continue their financial activities.
 
The 2025 banking reform document promoted by the Central Bank aims, according to Al-Alaq,
to modernize the banking system and attract global partnerships.
 
However, it is striking that only 10% of banks have expressed reservations about the plan,
while the rest face the risk of collapse or closure.
 
The liquidation of these banks may open the door to questions about who bears responsibility for their collapse.  Are they victims of external sanctions, or the result of the corruption and mismanagement that have plagued the banking sector for decades?
 
As the government promotes reform plans, the Iraqi banking sector appears to be entering a "cruel selection" phase between those who will survive and those who will be wiped out... but the price may be paid first by depositors.      
https://mustaqila.com/كارثة-مصرفية-10-بنوك-عراقية-تحت-المقصلة/   

 
Relations: 10 Banks Are Unable To Return Customer Deposits, And Lack Of Confidence Keeps 80% Of Funds Outside Banks.
 
Economy Yesterday, 12:35 | 1760  Baghdad Today – Baghdad   Central Bank Governor Ali Al-Alaq confirmed on Tuesday (August 12, 2025) that  approximately 80% of the Iraqi currency is stored outside banks in homes   due to weak confidence in the banking system.
 
Al-Alaq explained in a press statement followed by "Baghdad Today" that  "the reform document for the year (2025) aims to modernize banks according  to international standards and attract global partnerships," stressing that "the banking reform document represents a strategic step to enhance confidence in the Iraqi banking system and address shortcomings." 

He also revealed that only (10%) of the banks expressed reservations about the plan, while there are (10) banks under liquidation due to their inability to return customers’ deposits.     https://baghdadtoday.news/280767-80.html  

The Governor Of The Central Bank Holds An Important Meeting With Oliver Wyman.
 
August 12, 2025  The Governor of the Central Bank holds an important meeting with Oliver Wyman.
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, and the relevant team
held a meeting with Oliver Wyman   to discuss the contents of the Iraqi Private Banks Association’s letter regarding the banking reform plan.
 
His Excellency confirmed that the Central Bank had completed an extensive discussion,
during which the attendees expressed their understanding of the points contained in
the letter and ways to flexibly adapt some of the plan’s provisions to facilitate implementation.
 
The company has begun studying available means to present the best proposals and ideas in this regard as soon as possible.
 
This bank confirms what it announced during the months-long preparation period of the plan, that the
goal of the plan is to  achieve a real project to  build and  stabilize the banking sector, enabling it to to operate safely and effectively in accordance with  international practices and standards and
local laws.
 
This is to enhance    governance,     compliance, and     risk management, and  to transition banks to an economic role that  enhances the development process and  provides services with the highest levels of efficiency and effectiveness,  utilizing the best practices and modern technologies.
 
The bank emphasizes that the plan   will enhance local and international confidence in the Iraqi banking sector,   particularly since   implementation of the plan and  adherence to its provisions will lead to  the   restoration of relations between all banks that meet the  plan's requirements and   internationally accredited correspondent banks,   particularly those banks that do not currently have international banking relationships.
 
The bank also thanks all banks for     their engagement with the plan and     their fruitful cooperation with the Central Bank to achieve common goals in the public interest,  emphasizing that the plan's success depends on the cooperation of all concerned parties.
 
The bank noted that it  has succeeded in many aspects over the past period and  hopes to continue to implement this plan to its fullest potential. Central Bank of Iraq  Media Office  https://cbi.iq/news/view/2952    
  

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