Iraq Economic News and Points To Ponder Late Saturday Evening 6-20-26
A US Official: Iraq Has Agreed To Cooperate In Combating Money Laundering And Has Begun "Taking Steps"
2026-06-19 Shafaq News – Baghdad A U.S. administration official confirmed on Friday that Iraq has agreed to cooperate with a financial group to combat money laundering, corruption and terrorist financing, and has begun taking positive steps in this regard.
A US Official: Iraq Has Agreed To Cooperate In Combating Money Laundering And Has Begun "Taking Steps"
2026-06-19 Shafaq News – Baghdad A U.S. administration official confirmed on Friday that Iraq has agreed to cooperate with a financial group to combat money laundering, corruption and terrorist financing, and has begun taking positive steps in this regard.
The official told Shafaq News Agency that "after a process that lasted nearly two years to review the Iraqi system for combating money laundering and terrorist financing, Iraq agreed to work cooperatively with the Financial Action Task Force (FATF) to address the most strategic deficiencies in its system for combating money laundering and terrorist financing."
He added, "Iraq has already begun taking positive steps, demonstrating a political will to comply with the international standards set by the Financial Action Task Force (FATF)," noting that "we encourage Iraq to continue this positive movement and accelerate the implementation of the FATF Action Plan."
Sources indicated to Shafaq News Agency this evening that the changes being made by Prime Minister Ali al-Zaidi will affect more than 100 officials, and are closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.
The evaluation process is not limited to administrative performance alone, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.
According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.
According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.
Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say. https://www.shafaq.com/ar/سیاسة/مس-ول-ميركي-العراق-وافق-على-التعاون-لمكافحة-غسيل-ال-موال-وبد-بـ-اتخاذ-الخطوات
Exclusive: PM Al-Zaidi Targets Major Overhaul Of Iraqi Institutions
2026-06-20 04:32 Shafaq News- Baghdad Iraqi Prime Minister Ali Al-Zaidi is preparing a broad reshuffle that could affect more than 100 senior officials across state institutions, with changes expected to include deputy ministers, agency heads, directors-general, and senior security officials.
Sources familiar with the matter told Shafaq News that a team appointed by Al-Zaidi is conducting a “comprehensive review” of government institutions, assessing the performance of senior officials and evaluating several administrative files. The review also examines the political and organizational affiliations of some officials, amid discussions about removing figures found to have neglected their duties or maintained links to armed factions.
Al-Zaidi has already introduced changes in key security and economic institutions, including the Iraqi National Security Service and the Central Bank (CBI). The planned reshuffle comes as the prime minister works to complete his cabinet formation and ahead of his expected visit to Washington, where he is due to meet US President Donald Trump.
Political sources told Shafaq News that US envoy Tom Barrack discussed a range of issues with Al-Zaidi during his recent visit to Baghdad, including the management of sovereign institutions and efforts to strengthen the independence of government decision-making.
According to the sources, the discussions coincided with the decision to abolish the posts of deputy prime ministers and shelve plans for a proposed Federal Security Ministry that would have brought together several security formations, including the Popular Mobilization Forces (PMF), a predominantly Shiite umbrella formation integrated into Iraq’s state security structure in 2016, and armed groups.
Negotiations within the ruling Shiite Coordination Framework over the security ministries and other disputed portfolios remain ongoing, with Al-Zaidi seeking to appoint “technocratic figures,” according to the sources.
The Framework meeting has been postponed until after the tenth day of Muharram*, as political parties await further clarity on the cabinet lineup and the scope of the expected changes.
*The first month of the Islamic lunar year. For many Muslims, particularly Shiite communities in Iraq, it commemorates the martyrdom of the third Imam Hussein ibn Ali, Prophet Mohammed’s grandson, at the Battle of Karbala.
https://shafaq.com/en/Iraq/Exclusive-PM-Al-Zaidi-targets-major-overhaul-of-Iraqi-institutions
MP: Economic Reform Begins With Activating The Private Sector
The Information Agency / Baghdad - MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.
Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."
He added that "Iraq is currently experiencing an economic crisis as a result of mismanagement and poor planning, in addition to regional tensions that have negatively impacted the overall economic situation."
He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."
He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services." End/25
The Central Bank Of Iraq Responds To FATF: We Avoided The Blacklist And Will Implement The Plan To Exit The Grey List.
Economy | 20/06/2026 Mawazin News - Economy The Central Bank of Iraq responded to the Financial Action Task Force (FATF) regarding its placement on the grey list, pledging to implement the joint action plan adopted with the group to be removed from the enhanced monitoring list.
The Anti-Money Laundering and Counter-Terrorist Financing Council stated that the FATF adopted a joint action plan with Iraq during its recent plenary meeting, noting that the group's statement acknowledged the progress made by Iraqi authorities in several measures related to combating money laundering and terrorist financing.
The Council added that Iraq has made progress in implementing market access controls to limit criminals' and terrorists' access to vital sectors, strengthening oversight of non-bank financial institutions and the real estate sector, and developing the authorities' understanding of money laundering and terrorist financing risks.
The Council explained that Iraq will continue working with the FATF to implement the action plan, which includes strengthening risk management, regulating virtual asset service providers, increasing the effectiveness of reporting suspicious transactions, and expanding investigations into money laundering and terrorist financing crimes.
He affirmed that "Iraqi financial, judicial, regulatory, and security institutions are committed to implementing the plan's components according to specific timelines, thereby contributing to strengthening the resilience of the Iraqi financial system, protecting the national economy, and expediting Iraq's removal from the enhanced monitoring list."
The statement noted that "Iraq's inclusion on the enhanced monitoring track is a procedure that several countries have undergone during international evaluation rounds," emphasizing that "Iraq managed to avoid being placed on the blacklist by complying with international standards and addressing identified weaknesses."
https://mawazin.net/Details.aspx?jimare=284064
The Dollar As A Weapon Of Pressure: An Expert Warns Of American Dominance Over The Iraqi Economy.
The Information Agency / Baghdad... Economic expert Faleh al-Zubaidi stated on Saturday that the United States is using the dollar as a tool of pressure and blackmail against Iraq to advance its interests and agendas in the country.
In a statement to the Information Agency, al-Zubaidi explained that “the visit of US envoy Tom Barrack to Iraq comes within the framework of attempts to impose political dictates and conditions on the Iraqi government.”
He added that "the dollar and the global financial system are subject to American hegemony, which is sometimes used as a means of pressuring countries, including Iraq, to achieve specific gains and interests."
He pointed out that "Washington may resort to economic and financial pressure tactics if Iraq does not comply with these dictates or imposed directives."
He emphasized that "the current economic reality requires strengthening Iraq's financial independence and reducing reliance on external financial instruments in order to preserve the country's economic autonomy." End/25
Seeds of Wisdom RV and Economics Updates Saturday Afternoon 6-20-26
Good Evening Dinar Recaps,
U.S.-Iran MOU Signed as Nuclear Talks Enter Critical 60-Day Phase
Technical negotiations have been postponed, but the Memorandum of Understanding remains in effect as both sides prepare for what could become the most difficult stage of diplomacy.
Good Evening Dinar Recaps,
U.S.-Iran MOU Signed as Nuclear Talks Enter Critical 60-Day Phase
Technical negotiations have been postponed, but the Memorandum of Understanding remains in effect as both sides prepare for what could become the most difficult stage of diplomacy.
Overview
The United States and Iran have entered a new diplomatic phase after signing a Memorandum of Understanding (MOU) intended to halt hostilities and begin negotiations over Iran's nuclear program.
Vice President JD Vance confirmed that the official 60-day negotiation period has begun, although planned technical meetings in Switzerland have now been postponed.
Technical negotiations have been delayed while the United States and its partners finalize logistics. The White House says the American delegation remains prepared to travel once meetings are rescheduled.
Key Developments
1. Technical Talks in Switzerland Have Been Postponed
Although Vice President JD Vance was expected to travel to Switzerland, the White House confirmed that the trip has been postponed after discussions involving the United States, Iran, Qatar, Pakistan, and Swiss officials were delayed.
White House officials stated that technical negotiations have not yet been finalized and emphasized that the American delegation remains ready to depart once a new schedule is established.
2. The 60-Day Nuclear Negotiation Clock Has Officially Started
Despite the postponement, Vice President Vance announced that the MOU is now officially in force, beginning a 60-day period during which negotiators will attempt to reach a comprehensive nuclear agreement.
The next phase is expected to focus on:
Iran's uranium enrichment program
Disposition of highly enriched uranium
Verification and inspections
Future sanctions relief
Long-term regional security arrangements
Vance emphasized that there will be no final agreement unless Iran meets U.S. conditions regarding its nuclear program.
3. Internal Political Divisions Appear to Be Emerging Inside Iran
A significant new development is the emergence of conflicting public positions within Iran's leadership.
According to reports discussed on Fox News, Iran's Supreme Leader has reportedly claimed he never personally approved the Memorandum of Understanding, describing it as more of a tactical pause than a permanent settlement.
At the same time, Iran's elected government continues participating in negotiations, suggesting there may be competing political factions influencing Tehran's negotiating position.
Analysts say these divisions could complicate future talks but may also create additional leverage for U.S. negotiators.
4. Strait of Hormuz and Regional Security Remain Central Issues
Vice President Vance reiterated that international waterways should remain open to commercial shipping, making the continued operation of the Strait of Hormuz one of the central objectives of the agreement.
Meanwhile, President Trump defended the MOU while emphasizing that the United States retains significant military leverage should negotiations fail.
Regional tensions involving Israel and Hezbollah continue to be monitored, although administration officials suggested they do not currently threaten the broader U.S.-Iran negotiating process.
Why It Matters
The signing of the MOU marks only the beginning—not the conclusion—of negotiations.
While military tensions have eased, the most difficult issues remain unresolved, particularly Iran's nuclear program, sanctions, verification procedures, and long-term security guarantees.
The temporary postponement of technical talks highlights how fragile the diplomatic process remains.
Why It Matters to Foreign Currency Holders
For those following developments connected to the Global Financial Reset, these negotiations could influence:
Global oil prices
Inflation trends
Central bank monetary policy
International trade through the Strait of Hormuz
Demand for safe-haven assets including gold and the U.S. dollar
Markets will likely respond more to progress in the nuclear negotiations than to the initial MOU itself.
Implications for the Global Reset
Pillar 1: Energy
Keeping the Strait of Hormuz open remains critical to global energy security and inflation stability.
Pillar 2: Global Finance
Any eventual agreement involving sanctions relief, oil exports, or frozen Iranian assets could reshape international capital flows and commodity markets.
Looking Ahead
The next 60 days are expected to determine whether the newly signed Memorandum of Understanding evolves into a lasting agreement or remains only a temporary pause in hostilities.
Although technical meetings have been postponed, both Washington and Tehran continue signaling their intention to negotiate, while internal political divisions inside Iran may become one of the biggest variables affecting the outcome.
This is not just about ending a conflict—it reflects the growing connection between geopolitical diplomacy, energy security, and the evolution of the global financial system.
Sources
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Iraq Economic News and Points To Ponder Saturday Afternoon 6-20-26
US Command: 55 Ships Carrying More Than 17 Million Barrels Of Oil Have Crossed The Strait Of Hormuz
Arabic and international The US Central Command announced on Saturday that 55 ships carrying more than 17 million barrels of oil had transited the Strait of Hormuz.In a statement, the Command said, "55 ships transited the Strait of Hormuz carrying more than 17 million barrels of oil to global markets," adding that "ship traffic in the Strait of Hormuz increased today as we continue to support freedom of navigation.
US Command: 55 Ships Carrying More Than 17 Million Barrels Of Oil Have Crossed The Strait Of Hormuz
Arabic and international The US Central Command announced on Saturday that 55 ships carrying more than 17 million barrels of oil had transited the Strait of Hormuz.In a statement, the Command said, "55 ships transited the Strait of Hormuz carrying more than 17 million barrels of oil to global markets," adding that "ship traffic in the Strait of Hormuz increased today as we continue to support freedom of navigation.
" The statement concluded, "Our forces are prepared to ensure compliance with all aspects of the agreement with Iran." https://www.economy-news.net/content.php?id=70476
For The First Time In 48 Years, Iraq Breaks The Oil Exploration Stalemate In Its Northern Provinces.
Energy Economy News – Baghdad The Ministry of Oil announced on Saturday the commencement of drilling the first exploratory well in the northern provinces since 1978.
The ministry stated in a statement that, “In implementation of the directives of Oil Minister Bassem Mohammed Khudair, the technical and engineering staff of the Iraqi Drilling Company began drilling a new exploratory well within the Amerli district in Salah al-Din Governorate, under a tripartite contract that includes the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, in the presence of the Director General of the Iraqi Drilling Company and the Director General of the North Oil Company.”
She added that "this well is the first of its kind in the northern governorates since 1978, in a step that reflects the Oil Minister's directions towards revitalizing exploration work and developing promising blocks and reservoirs, with the aim of enhancing the hydrocarbon stock of oil and gas and increasing national reserves."
The minister affirmed, according to the statement, that "the ministry is proceeding with the implementation of its exploration programs aimed at enhancing the hydrocarbon reserves of oil and gas," noting that "the commencement of drilling this well represents an important milestone in the ministry's efforts to revitalize exploration work in promising areas after many years of inactivity."
He added that "the Ministry of Oil is adopting a new and clear vision based on expanding the drilling of exploratory wells and investing in geological and geophysical data, with the aim of enhancing the hydrocarbon reserves of oil and gas and securing resources that support the country's development and economic plans."
Khudair explained that "the project reflects the level of coordination and integration between the national oil formations, represented by the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, to achieve the ministry's goals of maximizing hydrocarbon wealth and investing it optimally."
He added: “Increasing proven oil and gas reserves and compensating for depletion is a strategic goal for the Ministry of Oil, given its role in enhancing Iraq’s global oil standing and supporting long-term oil sector development plans.”
He pointed out that "developing hydrocarbon reserves contributes to enhancing the country's future production capabilities, and gives Iraq greater flexibility in managing the oil production and export file, in line with the size of its proven resources and reserves, and achieves the highest possible economic return to serve national development."
The minister affirmed that "the Ministry of Oil is continuing to implement its plans aimed at expanding exploration activity in various promising areas, which will contribute to supplying national reserves with new discoveries, enhancing economic sustainability, and supporting Iraq's position as one of the most prominent countries possessing oil and gas wealth in the world."
Baghdad And Erbil On The Path To Unified Customs: The End Of Fragmentation And The Beginning Of A Single Iraqi Market
Reports Economy News – Baghdad The Iraqi government and the Kurdistan Regional Government are moving towards a new phase of economic coordination through a project to unify customs systems and procedures at all border crossings, in a step seen as one of the most prominent milestones of financial and administrative reform in recent years, due to its direct impact on public revenues, trade, and the investment environment.
In recent days, Baghdad witnessed joint meetings between the Border Ports Authority, the General Authority of Customs, and the Kurdistan Region Customs Authority, with the participation of representatives from the relevant sectoral bodies, to discuss mechanisms for unifying customs tariffs and implementing the electronic ASYCUDA system at all border crossings, in addition to discussing customs exemptions, lists of prohibitions and restrictions, standardization procedures, quality control, radiation inspection, compliance with the agricultural calendar, addressing unofficial border crossings, and unifying tax procedures.
During the meeting, the head of the Border Ports Authority, Omar Adnan Al-Waili, stressed the importance of dealing with the issues raised in a positive spirit, while giving priority to facilitating trade between the region and the Iraqi governorates, noting that unifying procedures would reduce the burdens on drivers and traders and achieve greater smoothness in the movement of goods, which would reflect on economic stability.
This government initiative comes within the framework of a broader trend towards digitizing customs work and unifying trade policy throughout the country, especially with the expansion of the application of the ASYCUDA system, which was developed by the United Nations through the United Nations Conference on Trade and Development (UNCTAD), and is one of the most widely used customs systems in the world for managing import, export, and transit operations, automating customs procedures, and increasing the efficiency of collection and control.
In this context, Finance Minister Falih Sari stressed that unifying customs systems and procedures between the federal government and the Kurdistan Region represents an important strategic step within the path of economic reform and strengthening non-oil revenues, stressing the importance of implementing the ASYCUDA system in the region’s customs centers because it provides advanced control and administrative tools that contribute to developing customs performance and enhancing electronic control.
He explained that the joint meetings discussed mechanisms for implementing the system currently adopted at the federal ports and reviewed the results achieved in the field of digital transformation and simplification of procedures, as well as exploring ways to unify data and customs procedures between Baghdad and Erbil in line with international standards, enhance transparency, and raise the efficiency of border port management.
The government affirms that the implementation of the unified electronic system will contribute to reducing customs evasion cases, maximizing non-oil revenues, and tightening control over the movement of goods entering and leaving.
This prompted both sides to sign a joint memorandum that includes a set of recommendations and executive procedures for implementing the system in the customs centers affiliated with the Kurdistan Region, in preparation for submitting it to the Ministerial Council for Economy to complete the necessary legal procedures.
This file is of particular importance in light of the Kurdistan Regional Government’s approval of the implementation of the ASYCUDA system, as the head of the regional government, Masrour Barzani, had previously confirmed that the region had no objection to implementing the system, while requesting a technical grace period of about nine months to complete the necessary infrastructure requirements for its implementation.
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, believes that unifying the customs systems between the federal government and the region represents a strategic step within the economic and financial reform project, explaining that its importance is not limited to the administrative aspect only, but extends to building a unified trade policy and enhancing the state’s ability to manage its non-oil resources more efficiently.
Saleh said that unifying customs systems will contribute to reducing cases of customs evasion resulting from differences in procedures and tariffs between ports, as well as unifying the databases for import and export movement, which provides more accurate information to decision-makers and helps to formulate more efficient economic and financial policies.
He added that the success of the project requires the adoption of unified electronic systems for collection and customs clearance, linking all border crossings to a central database that allows for real-time tracking of goods movement, in addition to activating joint monitoring and auditing and the exchange of information between the relevant authorities in the federal and regional governments.
Saleh pointed out that unifying customs systems will support increasing non-oil revenues by expanding the customs base, reducing financial leakage, and closing loopholes that allowed for different fees or duplication of procedures. He explained that this will achieve greater fairness in collecting fees and taxes on imports, enhance public treasury resources, and reduce excessive dependence on oil revenues.
The expected gains are not limited to the financial aspect only, as specialists believe that unifying customs procedures between Baghdad and Erbil will reduce the time and cost associated with the movement of goods within Iraq, strengthen the principle of national market unity, and give investors a clearer and more stable view of the business environment, as well as reduce the complications facing traders and importers when moving goods between the region and other governorates.
The success of this project will also contribute to strengthening confidence in the Iraqi economy among international institutions and foreign companies, especially with Iraq’s move towards expanding regional trade and implementing major strategic projects in the fields of transport and logistics.
Given the financial challenges facing oil-dependent economies, the move to unify customs systems between Baghdad and Erbil appears to be part of a broader vision aimed at building a more diversified and sustainable economy, based on developing non-oil revenues, improving financial management, and employing modern technology in managing border crossings, thereby enhancing state efficiency and consolidating the unity of the Iraqi market on more organized and transparent foundations.
You Weren't Crazy 17 Years Ago. You Were Early
You Weren't Crazy 17 Years Ago. You Were Early
Notes From the Field By James Hickman (Simon Black / Sovereign Man) June 19, 2026
20 years ago, if you recognized how deep America's problems were, it was easy to feel like you were the crazy one.
Banks were handing out mortgages to people who plainly couldn't afford them. Wall Street bundled those mortgages by the millions and sold them on as some of the safest investments around. And the whole structure rested on the assumption that home prices would never fall, so a bank could simply sell the home for more in case of a default.
You Weren't Crazy 17 Years Ago. You Were Early
Notes From the Field By James Hickman (Simon Black / Sovereign Man) June 19, 2026
20 years ago, if you recognized how deep America's problems were, it was easy to feel like you were the crazy one.
Banks were handing out mortgages to people who plainly couldn't afford them. Wall Street bundled those mortgages by the millions and sold them on as some of the safest investments around. And the whole structure rested on the assumption that home prices would never fall, so a bank could simply sell the home for more in case of a default.
Chief among the “experts” selling this fiction was Ben Bernanke, then chairman of the White House Council of Economic Advisers, who said in 2005, "We've never had a decline in house prices on a nationwide basis."
In March 2007, with subprime loans already going bad, Bernanke, by then Fed Chairman, told Congress the damage "seems likely to be contained."
That May he said he didn't expect "significant spillovers… to the rest of the economy."
As late as July 2008, weeks before the two mortgage giants collapsed into government hands, he called Fannie Mae and Freddie Mac adequately capitalized and in no danger of failing.
Then on September 15, 2008, Lehman Brothers filed the largest bankruptcy in US history, and the structure came down. Prices fell, those homes were suddenly worth less than the loans against them, and the safest investments around turned toxic.
By 2009, Washington was spending, bailing out, and printing at record scale, and the obvious question was how long it could possibly go on.
That was the world the very first Sovereign Man letter dropped into, in June 2009, exactly 17 years ago.
We wrote about a real man named William "Bud" Post who had gone flat broke, on food stamps, with lawsuits, jail time, and bankruptcy behind him. What made it strange was that in 1988 he'd won $16.2 million in the Pennsylvania lottery.
Bud, we wrote, is the United States of America.
America hit its own lottery after World War II, coming out the only major economy left standing, the dollar enthroned as the world's reserve currency. And like Bud, it spent the next several decades certain the money would never run out.
LBJ got bogged down in Vietnam while building the Great Society. George W. Bush entered two wars and told Americans to go shopping, and Obama, fresh off the bailouts, was promising universal healthcare.
It was the steady avoidance of every hard choice. We called it winner's syndrome: "we've been winners for so long we don't know any other reality."
In 2009, that was an unpopular thing to say.
The consensus treated the crisis as a stumble the economy would walk off, and calling America structurally broke got you labeled a crank.
We didn't say it was a death sentence, though. We argued the opposite, that clear thinking could still save America: take the hit, let failing businesses fail, restructure, and come out stronger.
"Unfortunately," we wrote, "there are no near-term indications of rationality in Washington."
17 years later, that is more true than ever. If anything, Washington has gone backwards.
For example, Social Security's own trustees now project the main retirement trust fund runs dry in 2032, after which scheduled benefits get cut by roughly 22% automatically.
That’s not some distant future where maybe at some point someone will have to start thinking about a solution. It is 6 years away.
And the fixes are no secret; the trustees themselves lay out the options, from higher payroll taxes to benefit cuts.
But they've ignored it for so long that simply hearing a few members of Congress acknowledge the scale of the problem now feels like progress, even though acknowledging it is a long way from fixing it.
We were early; the reckoning we kept warning about has taken longer to arrive than we thought.
But early isn't wrong: everything that first letter described is more true today than it was in 2009. Washington could still choose to fix it, exactly as it could have back then. It simply has to want to, and seventeen years of evidence says it doesn't.
Your Plan B, fortunately, doesn't require Congress to find its courage.
And that was the entire reason this company was founded.
That was the promise at the end of that first letter: while the country may be on a slide, clear thinking could still save you, "and that's where we come in."
That's still exactly what we do.
Sovereign Man grew into Schiff Sovereign, and one daily letter became a full body of research.
Every month, our co-founder James Hickman gives his in-depth view of the world in the Macro Brief, mapping where the debt, the dollar, and global events are heading. He points to specific real assets that can protect your savings; the gold, energy, and resource businesses that hold their value as the dollar slips.
It’s available to members of Premium
Members of our flagship membership, Plan B Confidential, get even more.
This is the original idea the first letter was built on: don't put all your eggs in one basket, and don't hand one government the keys to your entire life. Plan B Confidential is the playbook for second citizenship so you always have another way out, foreign residency so you always have another place to live, offshore banking so your savings aren't trapped in one banking system, and the legal tax strategy that lets you keep as much of your money as possible.
It's built on boots-on-the-ground research across more than 120 countries.
And because so much of the threat from a bankrupt government printing money and draining the value of your savings is financial, we've zeroed in on real assets through our investment research newsletter, Strategic Assets.
A real asset is something with worth of its own, the kind of thing people need no matter what the dollar is doing: gold as a store of value, energy, the metals that build everything. A government can print money by the trillion, but it can't print an ounce of gold or a barrel of oil, so real assets tend to hold their value, and often climb, exactly when paper money is falling apart.
And for readers who want it all, we offer Total Access.
Members get everything we publish, from the macro analysis to the investment research, and all the international strategies in between.
But Total Access members also get the community: other members who they meet at in-person events, conferences, dinners, and most recently, small group boots-on-the-ground trips around the world.
From a superyacht along the Croatian coast to a trek through the Patagonian Andes, members explore the world together, and finally find their tribe in each other.
That's the part we could never have planned 17 years ago.
Back then, we wrote to a handful of people willing to question what everyone else accepted as obvious. You were one of them, or you found your way here since, because you see the world through that same lens.
That's what built this. Not us. You.
Here's to the next chapter.
The Schiff Sovereign Team
Saturday Iraq News Posted by Tishwash at TNT 6-20-2026
TNT:
Tishwash: Algerian: The government will be forced to change the exchange rate after the country's economic downturn.
Information/Baghdad...
The head of the political body of the National Tribal Movement, Abdul Rahman al-Jazaeri, confirmed that the government will be forced to change the dollar exchange rate in local markets after the economic downturn the country has witnessed as a result of the war in the region.
Al-Jazaeri told Al-Maalouma, "The Prime Minister's move to increase the value of the dollar in local markets at the expense of the Iraqi dinar is possible and not unlikely given the conditions and developments in the region and their repercussions on Iraq."
TNT:
Tishwash: Algerian: The government will be forced to change the exchange rate after the country's economic downturn.
Information/Baghdad...
The head of the political body of the National Tribal Movement, Abdul Rahman al-Jazaeri, confirmed that the government will be forced to change the dollar exchange rate in local markets after the economic downturn the country has witnessed as a result of the war in the region.
Al-Jazaeri told Al-Maalouma, "The Prime Minister's move to increase the value of the dollar in local markets at the expense of the Iraqi dinar is possible and not unlikely given the conditions and developments in the region and their repercussions on Iraq."
He added, "The war in the region has had a complete and clear impact on all Iraqi economic programs, the budget, the dollar exchange rate, and foreign transactions, in addition to the disruption in the export of Iraqi oil."
He explained that "the urgent need compels the government to take measures that will increase the exchange rate in local markets in order to put the economy back on track, especially with an economic figure at the top of the executive branch."
Tishwash: An economist warns that changing the exchange rate without structural reforms could exacerbate inflation and poverty.
Economic expert Manar Al-Obaidi confirmed on Friday (June 19, 2026) that changing the exchange rate of the dinar against the dollar as a unilateral measure to reduce public spending may have negative effects that outweigh its temporary gains, calling for addressing the structural imbalances in the Iraqi economy.
Al-Ubaidi said in an analysis seen by “Baghdad Today” that “reducing the value of the dinar may achieve some gains, including reducing government spending denominated in dinars, limiting imports, supporting local products, as well as reducing pressure on cash reserves.”
He added that "the decision may entail a number of risks, most notably the loss of confidence in the local currency and increased dependence on the dollar, weakening the investment environment, increasing the state's operating expenses, as well as growing rates of inflation, poverty and unemployment."
He pointed out that "the real economic problem lies in the inflation of operating expenses, the weakness of non-oil revenues, and the imbalance in the trade balance," stressing that "real reform begins with addressing these issues structurally, and that any adjustment to the exchange rate should be part of an integrated package of economic reforms." link
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Tishwash: Ahead of his visit to Washington, al-Zaydi's "sieve" causes the biggest government shake-up since 2003.
It wasn't long after Ali Faleh al-Zaidi took over his duties that he began sending clear signals to his opponents and allies at the same time, under the title "The next stage will not be an extension of what came before it."
While his government is still completing its ministerial formation, informed sources speak of a broad list of changes that may affect more than 100 officials at various administrative levels, starting with undersecretaries and not ending with directors-general, in a move that seems closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.
According to information obtained by Shafaq News Agency, the team assigned by Al-Zaidi to review the performance of government institutions is continuing its work away from the spotlight, through a comprehensive evaluation of official institutions and bodies, in preparation for launching one of the broadest replacement operations that the country has witnessed since 2003.
The evaluation process is not limited to administrative performance only, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.
In a country where successive governments have been accustomed to "waiting before approaching high positions for fear of clashing with influential parties," al-Zaydi's moves appear to be very different.
The current prime minister began his term with a series of decisions affecting sensitive security and economic positions, including the National Security Service and the Central Bank, which opened the door to questions about whether these steps represent the beginning of a project to restructure state institutions, or whether they come in response to the requirements of a "new political phase" in which internal calculations are intertwined with external pressures.
The timing of these measures is of exceptional importance as al-Zaidi’s anticipated visit to Washington and his expected meeting with US President Donald Trump approach, a visit that many observers view as a pivotal moment in shaping the relationship between the new government and the US administration.
According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.
According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.
Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say.
But the road ahead for the prime minister does not appear entirely paved, as any change in the highest state positions necessarily means disrupting political balances that have accumulated over more than two decades, which makes any broad replacement process a real test of al-Zaydi’s ability to impose his will within a system of governance based on consensus, power-sharing, and the division of influence.
With the postponement of the meetings of the Coordination Framework forces until after the tenth of Muharram, the political forces seem to be waiting for the picture of the final understandings regarding the government formation and the expected changes to become clear, before determining the form of their position on the Al-Zaydi project.
Until then, the list of 100 names does not appear to be a "media show," but rather a title for a silent political battle taking place behind the scenes, which may redraw the centers of power within the Iraqi state, and reveal the extent to which al-Zaydi can turn promises of reform into reality, or remain within the limits of the balances that brought him to power. link
Tishwash: Iraq returns to the "grey list"... International demand obliges Baghdad to implement a plan to combat money launderin
The Financial Action Task Force (FATF) announced on Friday that it has placed Iraq on its "grey list" of countries that require increased monitoring regarding their efforts to combat money laundering and financial crimes.
The group’s chair, Elisa de Anda Madrazo, said in a statement translated by Shafaq News Agency that “the group’s general meeting decided to add Iraq to the grey list, as there is still a need to take measures to address the risks associated with cash transactions, increase investigations related to money laundering and terrorist financing, and enhance the use of financial information.”
According to the statement, inclusion on the grey list means that the country in question is subject to enhanced monitoring by the Financial Action Task Force, and is required to implement a reform plan to address deficiencies in its anti-money laundering and counter-terrorism financing systems.
The decision comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are key priorities for the next phase.
Iraqi Prime Minister Ali al-Zaidi had announced, since taking office last May, that rebuilding the Iraqi economy, attracting foreign investment, and fighting corruption would be among the main pillars of his government's program.
The Financial Action Task Force (FATF) announced in July 2018 that Iraq had been removed from the monitoring zone, due to the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering and Counter-Terrorist Financing Office in improving and addressing shortcomings, and in fulfilling all its obligations towards the FATF recommendations and addressing the requirements of the anti-money laundering and counter-terrorist financing strategy prepared by the bank at that time. link
************
Tishwash: The US Secretary of State will visit the Middle East next week.
The American news website Axios reported on Friday evening that US Secretary of State Marco Rubio intends to visit the Middle East next week.
According to the website, Rubio will visit the UAE, Kuwait and Bahrain during a Middle East tour next week.
Earlier today, Rubio, in a telephone call with Lebanese President Joseph Aoun, affirmed Washington’s support for the Lebanese government’s efforts to establish a sovereign state that lives in peace with its neighbors.
For his part, US President Donald Trump, in statements on Friday, specifically thanked the leaders of Saudi Arabia, Qatar and the UAE, stressing that Washington’s relations with the three countries are “great,” and praising the role played by the region’s capitals in supporting efforts to de-escalate tensions and engage in dialogue over the past months.
Last Wednesday, Trump and his Iranian counterpart, Masoud Pezeshkian, remotely signed a memorandum of understanding between the United States and Iran to end the war and open the Strait of Hormuz, in a move that preceded a ceremony that was scheduled to take place in Switzerland, and opened the door to broader negotiations on the nuclear issue and sanctions during a period of 60 days link
MilitiaMan & CREW IRAQ DINAR UPDATE-"ASYCUDA Final Stages + Post-Ashura Cabinet Push: Momentum Accelerating"
MilitiaMan & CREW IRAQ DINAR UPDATE-"ASYCUDA Final Stages + Post-Ashura Cabinet Push: Momentum Accelerating"
8-19-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
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MilitiaMan & CREW IRAQ DINAR UPDATE-"ASYCUDA Final Stages + Post-Ashura Cabinet Push: Momentum Accelerating"
8-19-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
Be sure to listen to full video for all the news……..
Seeds of Wisdom RV and Economics Updates Friday Evening 6-19-26
Good Evening Dinar Recaps,
CLARITY Act Gains Momentum as U.S. Senate Schedules Last-Minute Meetings
Senate leaders are accelerating negotiations on landmark cryptocurrency legislation as lawmakers work toward establishing a comprehensive regulatory framework for digital assets before Congress breaks for its August recess.
Good Evening Dinar Recaps,
CLARITY Act Gains Momentum as U.S. Senate Schedules Last-Minute Meetings
Senate leaders are accelerating negotiations on landmark cryptocurrency legislation as lawmakers work toward establishing a comprehensive regulatory framework for digital assets before Congress breaks for its August recess.
Overview
The U.S. Senate has scheduled a series of last-minute meetings to advance the CLARITY Act as lawmakers seek agreement before the August congressional recess.
The legislation aims to create clear rules for digital assets, providing regulatory certainty for the crypto industry while defining oversight responsibilities between federal agencies.
Momentum continues to build, with several lawmakers expressing optimism that Congress is moving closer to final passage.
Key Developments
1. Senate Negotiations Intensify
Senate leaders are holding additional negotiations as lawmakers work through the remaining provisions of the CLARITY Act. Much of the legislation falls under the jurisdiction of the Senate Agriculture Committee, making its discussions central to the bill's progress.
2. Lawmakers Seek Regulatory Clarity
Senate Agriculture Committee Chairman John Boozman acknowledged that negotiations are moving forward but noted that many members of Congress are still learning the complexities of digital asset regulation. Continued education and bipartisan cooperation will be important as lawmakers move toward a final vote.
3. Timeline Remains the Focus
While Senator Bill Hagerty remains hopeful that the legislation could advance before the July 4 recess, other lawmakers, including Senator Cynthia Lummis, believe passage before the August recess is the more realistic timeline. White House officials have also expressed optimism that negotiations are gaining momentum.
Why It Matters
The CLARITY Act would provide one of the most comprehensive federal regulatory frameworks for digital assets in U.S. history. Clear regulations could encourage innovation, increase investor confidence, attract institutional capital, and establish more consistent oversight for the rapidly expanding blockchain industry.
Why It Matters to Foreign Currency Holders
Foreign currency holders continue monitoring developments that may reshape the future financial system. As digital assets, tokenized finance, and blockchain-based payment systems gain regulatory clarity, they may play a growing role in cross-border transactions, settlement systems, and the broader modernization of global finance.
Implications for the Global Reset
Pillar 1: Technology
The CLARITY Act supports the continued development of regulated blockchain infrastructure, helping integrate digital assets into mainstream financial markets.
Pillar 2: Trade
Clear digital asset regulations could improve cross-border payments, financial innovation, and global capital flows, positioning the United States to remain competitive in the evolving digital economy.
This is not just about cryptocurrency—it reflects the continuing transformation of financial infrastructure as governments prepare for the next generation of digital finance.
Seeds of Wisdom Team
Newshounds News™ Exclusive
Sources
~~~~~~~~~~
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Iraq Economic News and Points To Ponder Saturday Morning 6-20-26
Iraq Was The Fifth Largest Buyer Of Homes In Türkiye During May
Money and Business Economy News – Baghdad Data from the Turkish Statistical Institute, released on Saturday, showed that Iraq ranked fifth among nationalities that bought the most homes in Turkey during May 2026, at a time when real estate sales to foreigners recorded a significant annual decline.
The agency stated in its monthly report that total home sales to foreigners amounted to 1,387 homes during May, a decrease of 27% compared to the same month in 2025, representing about 1.5% of total home sales in the country.
Iraq Was The Fifth Largest Buyer Of Homes In Türkiye During May
Money and Business Economy News – Baghdad Data from the Turkish Statistical Institute, released on Saturday, showed that Iraq ranked fifth among nationalities that bought the most homes in Turkey during May 2026, at a time when real estate sales to foreigners recorded a significant annual decline.
The agency stated in its monthly report that total home sales to foreigners amounted to 1,387 homes during May, a decrease of 27% compared to the same month in 2025, representing about 1.5% of total home sales in the country.
She added that home sales to foreigners during the first five months of this year amounted to 18,768 homes, down 15.1% year-on-year.
According to the data, Russian citizens topped the list of nationalities that bought the most homes in Turkey during May with 268 homes, followed by Iranians with 125 homes, then Ukrainians with 88 homes, and Germans with 73 homes, while Iraqis came in fifth place with 66 homes, while Azerbaijan came in sixth with the same number of 66 homes.
At the level of the real estate market in general, total home sales in Turkey during May decreased by 31.2% compared to the same period last year, reaching 93,333 homes, of which 30,196 were new homes and 63,137 were existing homes.
Sales of new homes also declined by 27.9% to 30,196 homes, while sales of existing homes fell by 32.7% to 63,137 homes.
https://www.economy-news.net/content.php?id=70457
Iraq Has Lost Nearly $38 Billion Since The Closure Of The Strait Of Hormuz
Money and Business Economy News – Baghdad The Economic Affairs Observatory “Eco Iraq” announced that Iraq has lost about 350 million barrels of oil exports since the closure of the Strait of Hormuz, equivalent to about $37.7 billion, calling for accelerating the implementation of the “New Levant” project as a strategic option to secure alternative export outlets and reduce dependence on maritime outlets.
The observatory stated that prior to the closure of the Strait of Hormuz on February 28, Iraq was exporting between 103 and 107 million barrels of crude oil per month.
He explained that the closure of the strait due to the war in the region led to a decline in exports, with losses amounting to 84,395,049 barrels in March, 93,115,870 barrels in April, 92,801,000 barrels in May, while the current month of June recorded about 79,600,000 barrels.
According to "Eco Iraq", the gap in Iraqi exports during the aforementioned period is estimated at about 350 million barrels, representing lost export opportunities valued at about $37.7 billion based on average oil prices during the period.
He concluded his statement by noting that the "New Levant" project represents an urgent strategic necessity to ensure the stability of Iraqi oil exports and to secure vital alternatives away from the geopolitical risks that threaten maritime routes, especially since the Iraqi economy depends on oil revenues by nearly 90%.
Canada Imposes A Temporary 10% Tariff On Imports Of Canned Vegetables
Money and Business Economy News - Follow-up The Canadian government has announced a temporary 10% tariff on global imports of canned vegetables, stating that this measure is intended to address challenges facing the local canned vegetable industry and to mitigate the impact of trade diversion on local producers.
The Canadian Ministry of Finance stated in a statement that the tariffs will take effect today, Friday, and will remain in place for a maximum of 200 days.
Canada: Economic ties with America are a weak point that needs addressing.
It is worth noting that the Canadian economy entered a technical recession after recording a contraction for the second consecutive quarter, amid the continued repercussions of trade tensions with the United States and declining investments.
Statistics Canada data showed that gross domestic product contracted by 0.1% year-on-year in the first quarter of 2026, compared with a downwardly revised contraction of 1% in the fourth quarter of last year.
The figures came in contrary to market expectations, which had predicted growth of around 1.5%, while the economy remained stable on a quarterly basis with no growth.
Economists attribute this weakness to the uncertainty surrounding US tariffs, which have negatively impacted investment, employment, and spending decisions, in addition to the pressures resulting from the oil price shock related to the war in the Middle East.
This comes as US President Donald Trump threatens Canada’s economy and sovereignty, whether by imposing large tariffs on Canadian products, or by talking about the possibility of annexing it to the United States to be the 51st US state.
Since his election just over a year ago, Mark Carney has insisted that Canada must reduce its economic and security dependence on the United States.
Trump imposed punitive tariffs on key sectors of the Canadian economy, but so far he has respected the core of the free trade agreement, leaving more than 85% of trade between the two countries exempt from tariffs. His administration has announced that it wants to make significant changes to this agreement during review discussions that are expected to intensify after July 1.
https://www.economy-news.net/content.php?id=70448
The Silent Winner: The Biggest Billionaire After Elon Musk
Money and Business Economy News - Follow-up 2026 wasn't just a year of rising billionaires, but a year of "sudden redistribution of wealth" driven by artificial intelligence. While Elon Musk stole the spotlight with the biggest financial leap in modern history, a less-hyped but more intriguing name emerged behind the scenes of the Bloomberg Billionaires Index: Michael Dell, who became one of the world's biggest gainers after Musk, benefiting from an unprecedented wave that reshaped the map of the wealthy.
Data from the Bloomberg Billionaires Index showed that Michael Dell recorded one of the largest annual increases in wealth during 2026, as his fortune jumped by about $81.2 billion since the beginning of the year, rising to about $221 billion by the end of June.
This leap puts Dell among the biggest winners globally, right behind Elon Musk, who added hundreds of billions to his fortune during the same period.
The movements in 2026 reflected an unprecedented state of fluctuation in the fortunes of the super-rich; while Dell and Musk added tens of billions, others suffered huge losses, such as Mark Zuckerberg and Bernard Arnault, who recorded a significant decline in net worth.
This sharp disparity was not random, but rather revealed a new rule governing global wealth: either you are within the artificial intelligence system… or outside the wealth wave.
The index now almost directly reflects the performance of technology and digital infrastructure stocks, causing billionaires' fortunes to change daily at the same pace as the market.
Why did Michael Dell's wealth increase so much?
Dell's rise was not a coincidence, but rather the result of a profound strategic shift in its business model, as it directly benefited from the artificial intelligence boom, after Dell Technologies transformed from a traditional computer company into a key player in artificial intelligence architecture, especially in data center servers.
Demand for artificial intelligence servers has exploded, with server revenues recording annual growth of 757% for Dell, an indication of unprecedented demand from businesses and governments, according to Forbes.
Dell's stock is expected to rise significantly during 2026, driven by strong expectations for artificial intelligence growth, which has directly impacted Dell's wealth, which is mainly based on its stake in the company.
His wealth is not based solely on his stake in Dell, but also includes investments in Broadcom following the VMware deal, which has given him double exposure to the semiconductor boom.
Among investors and analysts, Dell was not seen as a showman like Musk, but rather as a silent winner, far, far away from the spotlight.
While some have described him as a "shovel provider in the digital gold rush," referring to the fact that he does not build AI applications but sells the servers that run on them.
Dell has added more than $81.2 billion to his fortune since the beginning of 2026, an increase of 37% in less than 6 months, making him one of the highest-earning billionaires.
In some other estimates related to stock market movements, his gains at certain times reached nearly $89 billion during the year, placing him among the elite who directly benefited from the wave of artificial intelligence.
Seeds of Wisdom RV and Economics Updates Saturday Morning 6-20-26
Good Morning Dinar Recaps,
ASEAN Pushes Deeper Rare Earth Cooperation to Strengthen Global Supply Chains
ASEAN is seeking to deepen cooperation on rare earth elements (REEs) as global demand for critical minerals accelerates. By strengthening regional collaboration, Southeast Asian nations hope to reduce dependence on outside powers, expand domestic processing industries, and secure a stronger position in the global supply chain.
Good Morning Dinar Recaps,
ASEAN Pushes Deeper Rare Earth Cooperation to Strengthen Global Supply Chains
ASEAN is seeking to deepen cooperation on rare earth elements (REEs) as global demand for critical minerals accelerates. By strengthening regional collaboration, Southeast Asian nations hope to reduce dependence on outside powers, expand domestic processing industries, and secure a stronger position in the global supply chain.
Overview
ASEAN nations are working to strengthen cooperation on rare earth elements, which are essential for electric vehicles, renewable energy technologies, semiconductors, electronics, and defense systems.
China currently dominates global rare earth production and processing, prompting ASEAN members to pursue strategies that diversify supply chains and improve regional competitiveness.
The focus is shifting toward downstream manufacturing, technology transfer, and regional investment to maximize the long-term value of the region's natural resources.
Key Developments
1. ASEAN Holds Significant Rare Earth Potential
Malaysia, Vietnam, Indonesia, and Thailand possess substantial rare earth reserves, giving Southeast Asia an opportunity to become an important alternative supplier as governments and manufacturers seek to diversify away from China's dominant position.
2. Emphasis Moves Beyond Mining
Rather than exporting raw minerals, ASEAN leaders are encouraging investment in refining, magnet production, battery manufacturing, and advanced processing to capture more economic value within the region.
3. Bilateral Deals Could Reduce Regional Leverage
The article warns that individual agreements between ASEAN countries and foreign governments or corporations could weaken the bloc's collective bargaining power, limiting opportunities for technology transfer, environmental standards, and long-term industrial development.
4. Regional Cooperation Could Strengthen Supply Chains
Analysts recommend expanding joint research, workforce development, financing partnerships, and coordinated investment strategies that allow ASEAN members to build complementary industries instead of competing against one another.
Why It Matters
Rare earth elements have become some of the world's most strategic resources. As demand grows for clean energy technologies, artificial intelligence, semiconductors, and advanced manufacturing, countries with secure supplies and processing capabilities will hold increasing economic and geopolitical influence.
Why It Matters to Foreign Currency Holders
Critical minerals are becoming an increasingly important driver of global investment, trade, and capital flows. Nations that successfully develop these industries may strengthen their export economies, attract long-term investment, and improve their financial positions as the global monetary system continues to evolve.
Implications for the Global Reset
Pillar 1: Assets
Rare earth elements are emerging as strategic national assets, joining gold, energy resources, and critical commodities as governments seek greater economic resilience and supply chain security.
Pillar 2: Trade
Diversified supply chains reduce reliance on a single producer while encouraging the development of new regional manufacturing hubs and stronger economic cooperation throughout Southeast Asia.
Bottom Line
ASEAN's push for deeper rare earth cooperation reflects a broader global effort to secure critical supply chains and reduce strategic vulnerabilities. If successful, the region could become a much larger player in advanced manufacturing while reshaping global trade and investment patterns for years to come.
This is not just about critical minerals—it reflects the accelerating shift toward resource security, industrial independence, and a more multipolar global economy.
Seeds of Wisdom Team
Newshounds News™ Exclusive
Sources
Modern Diplomacy – A Bundle of Chopsticks: How ASEAN Can Deepen Rare Earth Cooperation
International Energy Agency (IEA) – Global Critical Minerals Outlook
~~~~~~~~~~
🌱 A Message to Our Currency Holders🌱
If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.
What failed was not your patience — it was the information you were given.
For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.
That is not your failure.
Our mission here is different: • No dates • No rates • No hype • No gurus
Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process
Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.
You will see silence. You will see denials. That is not delay — that is discipline.
Protect your identity. Organize your documents. Verify everything.
Never hand your discernment to anyone who cannot show proof.
You deserve truth — not timelines.
Seeds of Wisdom Team
Newshounds News
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Iraq Economic News and Points To Ponder Friday Afternoon 6-19-26
Al-Mustaqilla Reveals The Reason For Al-Alaq's Dismissal: Exchange Rate Disputes Behind The Decision
June 18, 2026Last updated: June 18, 2026 Al-Mustaqilla - A source revealed to Al-Mustaqilla that the decision to dismiss the Governor of the Central Bank of Iraq, Ali Al-Alaq, came as a result of a direct dispute over the exchange rate of the Iraqi dinar, after he refused in recent days to proceed with any amendment to the exchange rate against the dollar.
Al-Mustaqilla Reveals The Reason For Al-Alaq's Dismissal: Exchange Rate Disputes Behind The Decision
June 18, 2026Last updated: June 18, 2026 Al-Mustaqilla - A source revealed to Al-Mustaqilla that the decision to dismiss the Governor of the Central Bank of Iraq, Ali Al-Alaq, came as a result of a direct dispute over the exchange rate of the Iraqi dinar, after he refused in recent days to proceed with any amendment to the exchange rate against the dollar.
According to the source, Al-Alaq’s stance rejecting any change in the value of the dinar during the recent period constituted a point of contention within decision-making circles, which prompted – according to the information circulating – a decision to dismiss him from his position suddenly, and to replace him today with Nizar Nasser Al-Amiri as the new governor of the Central Bank of Iraq.
In the same context, researcher and consultant in economics and international transport Ziad Al-Hashemi said in a press statement that the file of changing the value of the Iraqi dinar is “being cooked up on a high fire” after the dismissal of the governor of the Central Bank, in an indication of possible moves related to monetary policy and the exchange rate during the next stage.
Given these facts, questions remain about the future of the Central Bank of Iraq’s policy, and whether the next stage will actually witness any change in the dinar’s exchange rate, or whether the matter will remain within the framework of the current monetary balances. https://mustaqila.com/المستقلة-تكشف-سبب-إقالة-العلاق-وخلا/
An Economist Warns Of Dire Economic Consequences From Changing The Dollar Exchange Rate.
{Economic: Al-Furat News} Economic expert Manar Al-Obaidi confirmed that the discussions taking place about the possibility of reducing the value of the Iraqi dinar against the dollar come in light of delicate economic conditions, especially with the decline in government revenues to low levels compared to previous periods, stressing the need to analyze the dimensions of this trend and its effects on the economy and society.
Al-Obaidi explained that supporters of this measure point to a number of potential gains, including reducing government spending denominated in dinars, curbing imports which gives the local product a chance to grow, in addition to protecting cash reserves from depletion, and trying to reduce the gap between the official exchange rate and the parallel market rate.
Conversely, Al-Ubaidi warned of negative repercussions that could outweigh any potential benefits, most notably a loss of confidence in the local currency and an increase in the dollarization of the economy, which would widen the price gap instead of narrowing it.
He also pointed out that exchange rate instability acts as a deterrent to both domestic and foreign investments, which require a stable economic environment to implement their projects.
The economist pointed out that reducing the value of the dinar will automatically lead to an increase in the government's operating expenses as a result of many contracts and services being linked to foreign currency, while also warning of sharp inflationary waves that will lead to an expansion of poverty and damage to vulnerable classes, in addition to creating a recession in the commercial sector, which in turn will contribute to exacerbating unemployment rates.
Al-Obaidi concluded that adjusting the exchange rate alone is not a radical solution, but rather a postponement of a structural crisis that requires comprehensive solutions based on three main axes: reducing inflation in operating expenses, developing non-oil revenues, and correcting the trade imbalance, stressing that any change in the exchange rate should be part of an integrated reform package and not a single tool to reduce expenses only.
https://alforatnews.iq/news/خبير-اقتصادي-يحذر-من-تبعات-اقتصادية-وخيمة-بتغيير-سعر-صرف-الدولار
Al-Karawi: The Concept Of A Mini-Budget For 2026 Has Not Yet Been Proposed.
The Information/Baghdad – MP Mudhar al-Karawi confirmed on Friday that there is no proposal or support so far for the concept of a mini-budget for 2026.
Speaking to Al-Maalouma, al-Karawi said, “All available indicators currently suggest that a budget will not be approved in 2026, especially given the delay in forming a government, which may take additional time.”
He added, “Talking about the possibility of proposing a mini-budget is still premature, and there is no parliamentary movement in this direction at present.” He explained that “proposing the budget is within the government’s purview, after which it will be discussed within the parliamentary finance committee to make the necessary amendments, and then presented for its first and second readings before being voted on in the House of Representatives according to constitutional procedures.”
Al-Karawi pointed out that “so far, there is no proposal or actual movement towards a mini-budget, and the picture remains clear regarding the extent of the financial challenges, as well as the price of a barrel of oil, which is a decisive factor in determining the features of any future budget.”
He concluded by saying, “Current data indicates that things are moving towards the budget being approved during 2027.” End/25
Al-Mustaqilla Reveals: Washington Demands The Suspension Of 8 Iraqi Banks, And Barak Hands Over Secret Names To Al-Zaidi.
June 17, 2026Last updated: June 17, 2026 Al-Mustaqilla News Agency – An informed source revealed to Al-Mustaqilla that US Special Envoy to Syria and Iraq, Tom Barrack, conveyed during his visit to Baghdad an explicit US request to Prime Minister Ali al-Zaidi to suspend at least eight Iraqi banks and take them out of service, following reports indicating their involvement in illegal activities in the foreign exchange market. The same source stated that the US side provided the Iraqi government with specific names, without disclosing them publicly.
Context: File open since 2023
This is not the first time Washington has pressured Baghdad on the banking sector. In July 2023, the US Treasury Department imposed sanctions on fourteen Iraqi banks for allegedly facilitating Iranian dollar transactions. The list was later expanded to include eight additional banks, among them Al-Huda Bank. Specialized reports indicate that 35 out of 72 banks operating in Iraq are now subject to varying degrees of US sanctions.
The Zaidi dilemma
Responding to the American request would mean a decision with direct economic and social repercussions: these banks serve depositors and finance commercial transactions. Ignoring it would complicate relations with Washington at a time when al-Zaidi is preparing to visit the country in July. Currently, al-Zaidi does not have the authority to shut down a bank without legal procedures determined by the Central Bank.
Frequently Asked Questions
Why is Washington demanding the closure of Iraqi banks?
Because of suspicions that they facilitate illegal dollar transfers that ultimately benefit Iran, which is subject to US sanctions.
Have the names of the eight banks been announced?
No. The names were handed over to the Iraqi government confidentially and have not been officially announced yet.
https://mustaqila.com/washington-8-iraqi-banks-shutdown-2026/
Iraq's Reserves Are Slipping... Has The "Financial Cushion" Entered A Danger Zone?
June 17, 2026Last updated: June 17, 2026 Independent/- Official data issued by the Central Bank of Iraq indicates a significant decline in the level of foreign reserves during the second quarter of 2026, amid continued pressure on external liquidity and fluctuations in financial factors related to global markets.
According to the data, foreign reserves on May 28 amounted to about 118.947 trillion dinars, compared to 120.675 trillion dinars on May 21, reflecting a weekly decrease of 1.728 trillion dinars and a decline rate of 1.43%, which indicates the continuation of the downward trend during the month of May.
On a monthly basis, the figures showed that the reserve recorded about 127.152 trillion dinars in April, after it was at 130.443 trillion dinars in March, reflecting a gradual decline over a period of three consecutive months, which raises questions about the dynamics of reserve management at this stage.
Gold as a hedging element
The data showed that the value of gold included in the official reserves amounted to about 32.973 trillion dinars, remaining one of the most prominent components of hedging within the structure of foreign reserves, in light of the fluctuations witnessed by currency prices and global markets.
Economic reading
This decline in reserves reflects a range of potential factors, including:
Changes in foreign exchange flows
Managing external liquidity and settling state obligations
Oil price fluctuations and their impact on dollar revenues
Global financial market conditions and exchange rates
Although reserve levels remain within relatively high ranges compared to previous years, the continued downward trend may constitute a signal that warrants close monitoring, especially given the Iraqi economy's heavy reliance on oil revenues.
6 Trends That Affect the U.S. Economy
6 Trends That Affect the U.S. Economy
Understanding these trends can help you protect your financial future
By Kimberly Amadeo Updated on July 12, 2021
In just a few short months, the COVID-19 pademic decimated the U.S. economy in what was a largely unforeseen crisis—one that will affect the economy for years. Five other trends listed below will continue to affect the U.S., too, because larger forces are at play.
Understanding these six trends could help you can protect your financial future.
6 Trends That Affect the U.S. Economy
Understanding these trends can help you protect your financial future
By Kimberly Amadeo Updated on July 12, 2021
In just a few short months, the COVID-19 pademic decimated the U.S. economy in what was a largely unforeseen crisis—one that will affect the economy for years. Five other trends listed below will continue to affect the U.S., too, because larger forces are at play.
Understanding these six trends could help you can protect your financial future.
1. U.S. Recovery From the Pandemic
In the first quarter of 2020, as COVID-19 began its spread across the U.S., economic growth declined by 5%. This signaled the onset of the 2020 recession. It also ended 128 months of expansion, the longest in U.S. history. In the second quarter, the economy contracted by a record 31.4%.
Quarterly gross domestic product (GDP) had never experienced a drop greater than 10% since record-keeping began in 1947. The economy recovered in the third quarter, expanding by 33.1%. Although a record, it was not enough to offset earlier losses.12
In December 2020, it was forecast that U.S. GDP would contract by 2.4% in 2020 but rise by 4.2% in 2021.3 By the fourth quarter, it had risen 7.0%.4
At the onset of the pandemic, the unemployment rate skyrocketed to 14.7% in April as companies furloughed workers.5 It remained in the double digits through July of that year.6 By the beginning of 2021, however, the unemployment rate had fallen to 6%. By the second month of 2022, it had decreased to 3.8%—very close to the unemployment rate just before the pandemic hit, which was 3.5%.7
2. Interest Rates Are Slowly Rising
As the economy heats up, inflation is heating up, too. The Fed uses interest rates to help control inflation.
In March 2020, the Federal Open Market Committee (FOMC) held an emergency meeting to address the economic impact of the COVID-19 pandemic. It lowered the federal funds rate to near zero, targeting a range of between 0% and 0.25%. The fed funds rate is the benchmark rate for adjustable-rate and short-term loans.89
In September 2020, the FOMC announced it would keep the benchmark rate at that level until inflation reached 2.0% over a long period of time. The Fed's December 16 forecast said that wouldn't occur until at least 2023.103 But it occurred much sooner than that. Supply chain issues, soaring home prices, and volatile oil price fluctuations, among other factors, caused inflation to rise rapidly. By February 2022, inflation had risen 7.9%—the largest jump since 1982.11
The Fed had been taking steps to keep interest rates low on fixed-rate and long-term loans to encourage recovery after the pandemic. It had restarted its quantitative easing (QE) program in 2020 as well, announcing it would purchase $500 billion in U.S. Treasuries and $200 billion in mortgage-backed securities.
It soon expanded QE purchases to an unlimited amount.12 The cost of loans plummeted, with mortgages falling to record-low levels. Such low borrowing costs spurred home prices higher still.13
By its March 2022 meeting, the FOMC couldn't ignore the rapidly rising inflation any longer and announced it would begin selling securities as well as raising the target fed funds rate by 25 basis points, to 0.25% to 0.50%. The FOMC also said it expected to continue raising rates to get inflation under control.14
3. Climate Change Is Causing More Natural Disasters
The U.S. climate is changing as a result of global warming caused by increased greenhouse gases. As the country experiences more hot days, food prices rise. Both corn and soybean yields in the United States plummet precipitously when temperatures rise above 84 degrees Fahrenheit.15
Note
Climate change creates unpredictable and violent storms, droughts, and floods.
Rising sea levels worsen flooding in low-lying towns, threatening the 30% of Americans who live in coastal counties and eight of the world's 10 largest cities.16 Floods have hit U.S. coastal towns three to nine times more often than they did 50 years ago. From 2005 to 2017, sea level rises cost 20 ZIP codes in Florida, Virginia, and South Carolina more than $2 billion.1718
Between 2014 and 2016, the drought in California cost the state an estimated $3.8 billion.19 Almost three-quarters of the losses were in the southern Central Valley. As the drought drags on throughout the American Southwest, climate change worsens the already-dry climate by accelerating water evaporation, resulting in a decades-long "megadrought."20
The frequency of western U.S. forest fires has increased by nearly 400% since 1970. Damaging wildfires have occurred in recent years in places including California, Colorado, and Oregon.2122
4. Financial Markets Control Oil, Gas, and Food Prices
Supply and demand have become less important in controlling prices. Instead, commodities traders set prices for oil, gas, and food, and foreign exchange traders determine the value of the dollar. The speed of transactions has also increased economic volatility. Gas and oil prices rise and fall, depending on investors' moods. This translates to either higher food costs or plummeting commodities prices.
Gold prices hit a new record high in August 2020 and kept rising, hitting new highs again and again. The price of gold topped $1,972 per ounce in March 2022.23
5. The U.S. Is Declining in Global Economic Power
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