Active Resistance to the Digital Financial Reset

Active Resistance to the Digital Financial Reset

Miles Harris:  8-18-2025

A major change is occurring in the global financial system. Governments and financial institutions describe this change as modernization, efficiency, or digital innovation.

 In reality, it is a gradual shift of money, markets, and ownership records into centralized digital systems.

These systems make assets visible in real time, programmable by policy, and subject to rules that can change without the consent of the owner.

 Understanding this process is essential for anyone who wants to maintain control over their assets and plan for the future.

00:00 Intro

Legal & Regulatory Changes

Institutional & Infrastructure Developments

Digital Identity Integration

 Engineered Liquidity

Events Policy Narratives

Control Layer Indicators

International coordination clues

Planning the Sequence of Actions

A Practical Monitoring System Conclusion

https://www.youtube.com/watch?v=GBp3WiSIZDE

Seeds of Wisdom RV and Economic Updates Tuesday Morning 8-19-25

Good Morning Dinar Recaps,

US Treasury Calls for Public Comment on GENIUS Stablecoin Bill

The U.S. Treasury Department is seeking public input on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, signed into law by President Donald Trump in July. The move is part of a broader effort to strengthen U.S. leadership in digital assets while addressing illicit finance risks tied to crypto.

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Public Comment Period Open Until Oct. 17

• Treasury has invited individuals and organizations to submit comments by October 17.

• Feedback should focus on innovative methods to detect and mitigate illicit activity involving digital assets.

• Areas of particular interest include:

• Anti–money laundering strategies

• APIs and blockchain monitoring tools

• Artificial intelligence applications

• Digital identity verification

Treasury officials will compile and review the public responses before submitting formal reports to the Senate Banking Committee and House Financial Services Committee.

Secretary Bessent: Essential Step for U.S. Leadership

Treasury Secretary Scott Bessent described the consultation process as “essential” for implementing the GENIUS Act and securing American leadership in the digital asset sector.

The law requires the Treasury and Federal Reserve to finalize regulations before full implementation. Under the timeline:

• The GENIUS Act will take effect 18 months after being signed (July 2025), or

• 120 days after final regulations are published — whichever comes first.

Political and Regulatory Timing

The timing suggests that enforcement of the GENIUS Act will not overlap with the 2026 midterm elections, reducing the likelihood of the law being used as a campaign issue.

Broader Crypto Legislation Efforts

The GENIUS Act was one of three major bills advanced during Republicans’ “crypto week” in July:

• GENIUS Act – Establishes a regulatory framework for stablecoins

• Digital Asset Market Clarity (CLARITY) Act – Aims to provide clearer rules for digital asset markets

• Anti-CBDC Surveillance State Act – Pushes back against a government-issued central bank digital currency

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The House of Representatives passed all three with bipartisan support. The Senate Banking Committee has indicated it will prioritize crypto market structure, aiming to advance its own version of the CLARITY Act by October.

@ Newshounds News™
Source: Cointelegraph

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Tether Appoints Former White House Crypto Council Head Bo Hines as U.S. Strategy Advisor

Stablecoin leader Tether (USDT) has appointed Bo Hines, the former executive director of the White House Crypto Council, as its Strategic Advisor for Digital Assets and U.S. Strategy. The move marks a major step in Tether’s push to establish a regulated presence in the U.S. under the new pro-crypto administration.

Bo Hines Brings Washington Insider Experience

• Hines, a Yale-trained attorney and former GOP congressional candidate, played a central role in shaping U.S. crypto policy.

• At the White House, he helped secure passage of the GENIUS Act, creating a federal framework for stablecoins.

• He also organized a high-level digital assets summit connecting industry leaders with government officials.

• After seven months in government service, Hines stepped down in early August before moving to the private sector.

Why the Appointment Matters for Tether

Tether has long operated outside the U.S. regulatory framework. By adding Hines, the company gains:

• A direct connection to U.S. policymakers

• Expertise in navigating Washington’s legislative and regulatory processes

• Strategic positioning to launch a U.S.-compliant stablecoin under the GENIUS Act

Tether CEO Paolo Ardoino confirmed that U.S. expansion plans are “well underway,” calling Hines’s appointment a pivotal step toward meeting institutional and regulatory standards in the world’s largest market.

Tether’s Market Position

• Tether issues USDT, the world’s largest stablecoin.

• Circulating supply exceeds $166 billion, according to The Block’s data dashboard.

• The company’s U.S. strategy signals its ambition to transition from operating on the regulatory margins to becoming a fully integrated player in the American financial system.

@ Newshounds News™
Source: The Block

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Ripple Backs Gemini’s IPO Filing With $75M Credit Line, RLUSD Option Included

Ripple has emerged as a key backer of Gemini’s upcoming IPO, providing the exchange with a $75 million credit line that could expand to $150 million. The deal also introduces Ripple’s new stablecoin, RLUSD, as a borrowing option once the initial facility is tapped.

Key Takeaways

• Ripple extends $75M credit line to Gemini, with potential to reach $150M and RLUSD as a borrowing option.

• Gemini files for IPO under ticker “GEMI,” aiming to become the third U.S. crypto exchange to go public.

• The exchange reported a $282.5M net loss in H1 2025, highlighting steep financial headwinds ahead of listing.

• RLUSD inclusion signals Ripple’s ambition to challenge Tether (USDT) and Circle (USDC) in the stablecoin market.

Gemini’s IPO Plans

Gemini, which plans to list on Nasdaq under the ticker “GEMI,” disclosed the agreement with Ripple as part of its long-anticipated public offering.

The move positions Gemini to become the third crypto exchange to go public in the U.S., following Coinbase (2021) and Bullish (2025).

However, Gemini’s filing also revealed significant financial challenges:

• A $282.5 million net loss in H1 2025, up nearly sevenfold from last year.

• Revenue sliding to $67.9 million, down from $74.3 million in the same period of 2024.

Ripple’s Credit Facility Terms

Under the agreement with Ripple Labs, Gemini can:

• Borrow in tranches of at least $5 million.

• Pay interest rates of 6.5% or 8.5%, with collateral required.

• Once borrowing surpasses $75 million, loans can be denominated in RLUSD, providing Ripple’s new stablecoin a direct entry into U.S. exchange infrastructure.

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No funds have been drawn yet, but the inclusion of RLUSD underscores Ripple’s push to compete with USDT and USDC, which dominate the stablecoin market.

For Gemini, the facility provides fresh liquidity at a critical moment, as investor scrutiny intensifies ahead of its IPO.

Wall Street Giants Back Gemini IPO

The deal is being led by major Wall Street banks, including:

• Goldman Sachs

• Citigroup

• Morgan Stanley

• Cantor Fitzgerald

With Academy Securities and AmeriVet Securities acting as co-managers.

Investor appetite for crypto listings is strong:

• Circle’s IPO (June 2025) saw shares surge nearly 10x from its $31 offering price before settling at $149.

• Bullish’s IPO earlier this week more than tripled from $37 to nearly $70 on its first trading day.

Several other firms — including OKX, Grayscale, and Kraken — are also considering public offerings. Meanwhile, listed giants like Coinbase and MicroStrategy have hit multi-year highs.

Policy Shift Fuels IPO Wave

The IPO momentum comes amid a regulatory climate increasingly favorable to digital assets:

• Since President Trump’s return in January 2025, the SEC has dropped most cases against crypto firms.

• The administration has advanced a pro-crypto agenda, including:

• An executive order urging regulators to remove barriers preventing 401(k) retirement plans from including crypto assets.

• Potential reforms that could allow millions of Americans to allocate retirement savings into Bitcoin and other digital assets through regulated channels.

@ Newshounds News™
Source: CryptoNews

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Iraq Economic News and Points To Ponder Late Saturday Evening 8-16-25

Rafidain Bank Signs An Agreement With An American Company In The Field Of Financial Consulting And Oversight

Banks  Economy News – Baghdad  Rafidain Bank announced today, Friday, the signing of a professional partnership agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank Director General Ali Karim Hussein Zahir Al-Fatlawi said in a statement published by the Iraqi Embassy in Washington, "In a new strategic step that reflects Iraq's growing financial standing on the international stage, the Iraqi Embassy in Washington witnessed the signing of a professional partnership agreement between Rafidain Bank and K2 Integrity, a global leader in financial and regulatory consulting."

He added that "the agreement includes providing a comprehensive package of services, including combating money laundering and terrorist financing, implementing compliance systems in line with international standards, and strengthening the regulatory infrastructure of Iraqi banks."

He noted that "this cooperation is part of the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region."

He explained that "this partnership represents a qualitative leap forward in the path of banking reform," noting that "the agreement will contribute to strengthening confidence in Iraqi banks and opening broader horizons for cooperation with correspondent banks around the world, supporting the government's goals of building a strong, transparent financial sector that is consistent with international best practices."

This signing comes as an extension of the government's approach to launching strategic projects that enhance Iraq's position as a promising financial center in the region, and consolidate its image as a country capable of keeping pace with global economic transformations with confidence and competence.   https://economy-news.net/content.php?id=58801

Rafidain Bank Signs Agreement With US Company Amid Criticism In Congress

Rafidain Bank announced on Friday (August 15, 2025) the signing of a professional partnership agreement with K2 Integrity, an American financial consulting and oversight firm, during a ceremony held at the Iraqi Embassy in Washington.

According to a statement from the bank, the agreement includes a package of services covering anti-money laundering and counter-terrorism financing, the implementation of international compliance systems, and strengthening the regulatory structure of Iraqi banks.

The bank's general manager, Ali Karim Hussein Dhaher Al-Fatlawi, emphasized that the partnership represents "a qualitative leap in the path of banking reform" and will contribute to enhancing confidence in Iraqi banks and opening up broader horizons for international cooperation.

According to the statement, this signing comes within the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region.

However, US Representative Joe Wilson accused Rafidain Bank of conducting financial transactions with the Houthi group in Yemen, describing it as a "terrorist organization." He vowed to work to cut off US funding to Iraq in the upcoming financial allocations legislation and urged the US Treasury to impose sanctions against the bank.   https://www.radionawa.com/all-detail.aspx?jimare=42440

Rafidain Bank Confirms: Our Agreement With K2 Integrity Puts Iraq On The Map Of The Global Financial System

Banks  Rafidain Bank's General Manager, Ali Karim, emphasized that signing the partnership agreement with K2 Integrity represents a qualitative shift in the bank's journey and the Iraqi financial sector. He noted that this strategic step transforms Rafidain Bank from a traditional local institution to an integrated banking platform directly aligned with international standards.

Al-Fatlawi explained, in an interview with the official agency, followed by Al-Eqtisad News, that the partnership comes with direct support from Prime Minister Mohammed Shia Al-Sudani, and in accordance with Cabinet Resolution No. (23274) of 2023, within the framework of a comprehensive reform vision aimed at restructuring the banking sector, strengthening Iraq's economic and financial sovereignty, and repositioning the country on the map of the international financial system with confidence and transparency.

Al-Fatlawi told (INA): "The partnership agreement with K2 Integrity represents a qualitative shift for Rafidain Bank, which is no longer just a traditional local bank, but has become an institution working to connect Iraq to international banking standards."

He added, "K2 Integrity is a global leader in compliance and anti-money laundering and counter-terrorism financing, and our collaboration sends a clear message that Iraq is serious about reforming its financial institutions and preparing them to open up to the global financial system."

Prime Minister's support

He continued, "This partnership would not have seen the light of day without the great support of Prime Minister Mohammed Shia Al-Sudani, who adopted a serious reform vision to restructure the banking sector. The contract with K2 Integrity came in accordance with Cabinet Resolution No. (23274) of 2023, which reflects that this project is not just an individual initiative of the bank, but rather part of a higher government policy aimed at enhancing transparency and financial sovereignty in Iraq."

Direct gains for citizens

Al-Fatlawi told (INA): "On the local level, this agreement raises the level of compliance and transparency within the bank, and establishes a modern corporate culture based on governance and risk management. As for the citizen, it means more secure banking services, greater protection for their money, and enhanced confidence in an institution that has long been a fundamental pillar of the national economy. Simply put, the citizen will feel that their money is in safe hands subject to global regulatory standards."

Reintegrating Iraq into the international financial system

Regarding the agreement's implications for Iraq's financial reputation, he explained, "Iraq needs to rebuild trust with international institutions, and this agreement is key to that.

 Through K2 Integrity's services, we will be able to issue reports according to the highest international standards, which will put us back on the map of the international financial system and give us the ability to open up to global correspondent banks and attract foreign investment. Simply put, we are establishing a new phase in which Iraq is viewed as a country serious about reform, not as a fragile or isolated economy."

Fortifying the economy

Al-Fatlawi emphasized that "the banking sector is the first line of defense for any country's sovereignty. Through this partnership, we are not only improving our services, but also protecting our economy from the risks associated with financial isolation or unjustified accusations, and building institutional capacity that grants us greater independence. This step truly translates the vision of the Prime Minister and the Iraqi government for Rafidain Bank to be part of a broader national project to enhance economic sovereignty."

Regarding Rafidain Bank's future vision after this partnership, Al-Fatlawi told the Iraqi News Agency (INA): "This agreement reflects our ambition to transform into a modern, integrated banking institution, capable of keeping pace with technological and regulatory developments in the world.

We are establishing a brighter and more stable banking future, where citizens trust our ability to manage their money, and international institutions trust our ability to comply with global standards. Simply put, we are laying the foundation for an Iraqi bank with a global identity." https://economy-news.net/content.php?id=58856

Al-Araji Discusses With The US Chargé d'Affaires Enhancing Cooperation And Combating Terrorism.

A wish | 03:15 - 08/16/2025   Mawazine News - Baghdad -   National Security Advisor Qasim al-Araji received on Saturday the US Chargé d'Affaires in Iraq, Ambassador Stephen Fagin.

During the meeting, they discussed bilateral relations and ways to enhance cooperation in the field of combating terrorism and exchanging information and expertise.

Al-Araji also reviewed the details of the security memorandum of understanding signed between Iraq and Iran regarding border control and preventing smuggling and infiltration, stressing that Iraq proceeds from its supreme national interests and adopts a policy of balanced openness with countries of the region and the world.

For his part, Fagin renewed his country's support for the policies of the Iraqi government, praising its efforts in returning the displaced. He revealed that an international conference will soon be held in New York to urge countries to withdraw their nationals from the Syrian Al-Hawl camp and fully resolve this issue.   https://www.mawazin.net/Details.aspx?jimare=265192

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

Powell, Bad Data, and a Fractured Fed in the Shadow of the Trump Admin

Powell, Bad Data, and a Fractured Fed in the Shadow of the Trump Admin

Kitco News:   8-15-2025

The Federal Reserve stands at a critical juncture, navigating a complex landscape of economic data inconsistencies, growing internal dissent, and vocal political pressure regarding its leadership and monetary policy direction.

This intricate scenario was expertly dissected by Danielle DiMartino Booth, a respected voice in monetary policy, during a recent discussion with Jeremy Szafron on Kitco News.

The central theme of the conversation revolved around the quality of economic data guiding the Fed’s interest rate decisions and the palpable signs of an impending economic slowdown. Booth highlighted how a string of significant data revisions has thrown a wrench into the prevailing narrative of a robust economy, directly impacting the calculus for future rate decisions.

A key revelation from the discussion was the extensive downward revisions to crucial labor market data, particularly payroll figures. These adjustments, Booth noted, paint a starkly different picture than initially presented, weakening the argument for a perpetually strong jobs market.

Compounding this, rising delinquencies in consumer credit—specifically credit cards and student loans—further contradict the notion of a resilient consumer.

These inconsistencies, Booth emphasized, severely complicate the Federal Reserve’s decision-making process. If the underlying data guiding policy is flawed, then the resulting policy might be miscalibrated, risking either overtly tight or excessively loose monetary conditions.

Adding a potent political dimension to the economic discussion, Treasury Secretary Scott Bessent emerged as a vocal advocate for a dramatic shift in monetary policy. Bessent explicitly called for aggressive interest rate cuts, suggesting a lowering of 150 to 175 basis points, with an immediate 50 basis point cut as early as September.

He sharply criticized Fed Chair Jay Powell’s current “data-driven” approach as outdated, advocating for a return to a more proactive “1990s-style” economy where the Fed moved preemptively.

Bessent’s core warning: current monetary policy risks being “too tight for too long,” potentially stifling growth unnecessarily and pushing the economy into a deeper downturn.

Beyond the challenge of unreliable data, the discussion also shone a light on growing internal dissent within the Federal Open Market Committee (FOMC). An “unprecedented number of dissents” signals a widening divide among policymakers regarding the appropriate path for interest rates, indicating a lack of consensus that could further complicate future actions.

This internal friction, coupled with the increasingly public debate over Jerome Powell’s tenure as Fed Chair—with figures like Donald Trump and Scott Bessent openly discussing his potential replacement—raises significant concerns about the Federal Reserve’s cherished independence.

 The reputational and political challenges facing the central bank underscore the delicate balance it must maintain between economic imperatives and external pressures.

The Kitco News discussion with Danielle DiMartino Booth paints a complex picture for the Federal Reserve. Plagued by questionable data, facing external political pressure for aggressive rate cuts, and grappling with internal dissent, the Fed stands at a critical juncture.

The choices made in the coming months, both on rates and leadership, will undoubtedly shape the trajectory of the U.S. economy and redefine the central bank’s role in a highly charged political landscape.

https://youtu.be/OwMu7vnG-F4

“Tidbits From TNT” Saturday 8-16-2025

TNT:

Tishwash:  Trump's developments with Baghdad: A "rapid" withdrawal from Iraq before an imminent Israeli strike on Iran

After the US troop withdrawal from Iraq was scheduled to be suspended after the October 11 elections, Iraqi executive and parliamentary sources told Al-Araby Al-Jadeed that a decision was made in Washington to “accelerate” the withdrawal of hundreds of troops from the large Ain al-Assad base in Anbar.

This comes against the backdrop of escalating controversy between the Donald Trump administration and the Iraqi government over the Popular Mobilization Forces (PMF) law, which is no longer a secret. This is in addition to the successive explosion of numerous files, from the dollar to the smuggling of Iranian oil in Basra, as well as security agreements that Baghdad has recently been confused about.

The sources expressed their fear that this is related to expectations that are becoming more serious by the day, regarding “the resumption of war between Iran and Israel,” after experts stated that Iraq survived the previous war thanks to a heavy US presence in major Iraqi bases.

Al-Araby Al-Jadeed learned from Iraqi political and governmental sources that the US administration has notified the government of Prime Minister Mohammed Shia al-Sudani of the imminent withdrawal of hundreds of US soldiers and military personnel from the Ain al-Assad base in Anbar province, western Iraq.

The withdrawal is related to the Iraqi-US agreement, which stipulates the gradual withdrawal of US forces operating under the cover of the international coalition fighting ISIS since 2014. However, other sources spoke of US “displeasure” with the Iraqi government’s failure to adhere to understandings and agreements with the US administration.

According to the sources, "a senior advisor to the Iraqi government recently visited Washington and met with American officials, who informed him that the Iraqi government had not fulfilled its commitments to restrict the factions' weapons."

The sources pointed out that "the decision to withdraw a portion of US forces comes in contravention of the previously agreed-upon timetable between Baghdad and Washington for a gradual withdrawal, which was supposed to take place after the parliamentary elections scheduled for next November, meaning it is an emotional response from the US administration," expecting the withdrawal from Ain al-Assad base to begin next month.

Ain al-Asad Air Base is located 200 kilometers west of Baghdad, near the Euphrates River in the town of al-Baghdadi, west of Anbar Governorate, and is the largest US base in Iraq.

Ain al-Asad Air Base currently houses hundreds of American soldiers and military personnel. Along with American forces, the base is shared with the Iraqi Army's 7th Division, part of the Badia and Al-Jazeera Operations Command, which is responsible for Iraq's borders with Jordan and Syria, and parts of the border with Saudi Arabia.

In this context, a member of the Iraqi parliament told Al-Araby Al-Jadeed, “The United States is not satisfied with the performance of the Iraqi prime minister, and is exerting real pressure from all sides. Therefore, there must be real support for this government and prevent the continuation of American interference.” He added to Al-Araby Al-Jadeed, “The decision to withdraw American forces is expected, and may come within the framework of the security threat that may precede any expected Israeli operations in the coming period.

We do not currently know whether the forces will withdraw towards the Harir or Al-Tanf bases, or perhaps to bases in the Gulf, but these hints are merely tools to pressure the current government.”

However, security expert Ahmed Al-Sharifi pointed out, in an interview with Al-Araby Al-Jadeed, that “the American and foreign forces present at the Ain al-Assad base are considered mobile forces, meaning they are not fixed and are constantly moving between three bases: Al-Tanf and Al-Omar in Syria, and Ain al-Assad in Iraq. Each of these bases is linked to the others, which means that the possibility of the withdrawal of American forces from the Ain al-Assad base may be linked to the movement or perhaps the final withdrawal.”

Baghdad and Washington had agreed, at the end of September last year, to an official date for the end of the international coalition's mission against ISIS in the country, no later than the end of September 2025. This date was reached after months of dialogue between the two sides.

This came in the wake of escalating demands from armed factions and Iraqi forces allied with Iran to end its presence, particularly after the US strikes at the time on the headquarters of those factions in response to their attacks on coalition bases inside and outside the country, against the backdrop of the Gaza war.  link 

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Tishwash:  Rafidain Bank Signs Professional Partnership Agreement with K2 Integrity in Washington

In a new strategic step reflecting Iraq’s growing financial presence on the international stage, the Embassy of the Republic of Iraq in Washington hosted the signing ceremony of a professional partnership agreement between Rafidain Bank and K2 Integrity, a U.S.-based global leader in financial and regulatory consulting. The agreement is based on Iraqi Cabinet Resolution No. (23274) of 2023.

Under the agreement, K2 Integrity will provide a comprehensive package of services, including anti-money laundering and counter-terrorist financing measures, the implementation of compliance systems in line with international standards, and the enhancement of regulatory infrastructure for Iraqi banks.

This cooperation falls within the Iraqi government’s strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations, reinforcing Iraq’s position as a promising financial hub in the region.

The Embassy of the Republic of Iraq in Washington emphasized that this partnership reflects the strength and continued growth of Iraq–U.S. relations, particularly in the areas of economic diplomacy and strategic partnerships that support sustainable development.

The Embassy reaffirmed its commitment to further deepening these ties, advancing mutual interests, and expanding investment opportunities between the two countries. link

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Tishwash:  Hantoush: Dismantling the parallel market is key to the dollar's return to 135,000.

Financial researcher Mustafa Akram Hantoush emphasized that addressing the exchange rate issue in Iraq requires working on two main aspects: reforming the banking system and dismantling the parallel market. He noted that any partial solutions will not be sufficient to achieve the desired stability.

In an interview with Jarida Platform, Hantoush explained that “the Iraqi banking system suffers from weak competition due to the limited sale of dollars to a limited number of banks, in addition to the fact that most of them face international sanctions.” He indicated that “the current cooperation with Oliver Wyman aims to find practical solutions and increase the banks’ capital.”

He pointed out that "reducing restrictions on the banking system and opening up competition in foreign remittances will contribute to market stability," noting that "the other side of the solution is dismantling the parallel market linked to trade with Iran, where small traders and travelers to sanctioned countries operate."

Hantoush explained that "possible solutions include agreeing with the US Treasury Department on mechanisms for transferring funds, establishing three-way accounts for imported goods, and developing legal formulas for transferring funds to sanctioned countries via payment cards in their local currencies."

 He concluded by saying, "Controlling the parallel market could restore the dollar exchange rate to 135,000 dinars per $100, if these steps are implemented comprehensively."  link

Mot: Sum Times they Just Get - carried away!!!! 

Mot:  . Proud I Am!!!!  

“Tidbits From TNT” Friday Morning 8-15-2025

TNT:

Tishwash:  Rafidain Bank signs an agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank announced today, Friday, the signing of a professional partnership agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank Director General Ali Karim Hussein Zahir Al-Fatlawi said in a statement published by the Iraqi Embassy in Washington, "In a new strategic step that reflects Iraq's growing financial standing on the international stage, the Iraqi Embassy in Washington witnessed the signing of a professional partnership agreement between Rafidain Bank and K2 Integrity, a global leader in financial and regulatory consulting."

He added that "the agreement includes providing a comprehensive package of services, including combating money laundering and terrorist financing, implementing compliance systems in line with international standards, and strengthening the regulatory infrastructure of Iraqi banks." He noted that "this cooperation is part of the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region."

He explained that "this partnership represents a qualitative leap forward in the path of banking reform," noting that "the agreement will contribute to strengthening confidence in Iraqi banks and opening broader horizons for cooperation with correspondent banks around the world, supporting the government's goals of building a strong, transparent financial sector that is consistent with international best practices."

This signing comes as an extension of the government's approach to launching strategic projects that enhance Iraq's position as a promising financial center in the region, and consolidate its image as a country capable of keeping pace with global economic transformations with confidence and competence.  link

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Tishwash:  Development Plan 2024–2028: Iraq moves towards a productive economy with revenues exceeding 700 trillion dinars.

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%  link

Mot:  Yeppers!! - ole ""Mot"" dids it Again!!!!

Mot:  Here We Go Again !!!!!! 

“Tidbits From TNT” Thursday 8-14-2025

TNT:

Tishwash:  The Governor of the Central Bank of Iraq meets with the International Finance Corporation's representative in Iraq.

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, met with Mr. Bilal Al-Saghir, the Resident Representative of the International Finance Corporation (IFC) in Iraq.

During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the IFC and the importance of cooperation between the two parties, particularly in the field of training banking personnel in Iraq. The two parties intend to sign a memorandum of understanding in this regard in the coming period.

His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign participation. This is a financial system used to provide financing to projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized enterprises seeking easy and flexible financing.

The two parties discussed the importance of implementing the banking reform plan being implemented by the Central Bank of Iraq with the assistance of Oliver Wyman, within international standards that will enhance the soundness of the banking sector internationally and restore the ability of a group of Iraqi banks to conduct international transactions.
 
Central Bank of Iraq
Media Office
August 13, 2025  link

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Tishwash:  Iraq and Turkey agree to form a joint customs committee to enhance trade cooperation.

Iraq and Turkey agreed on Wednesday to form the Iraqi-Turkish Joint Customs Committee, as part of strengthening cooperation between the two countries' customs authorities. This will contribute to developing trade relations and facilitating the movement of goods across border crossings.

A statement issued by the Iraqi Embassy in Ankara stated that "the agreement came during a meeting held in the Turkish capital, Ankara, chaired by Sami Abdul-Hussein Radhi, Advisor to the Prime Minister of Iraq for Border Ports, Customs and Transport Affairs, and Sezai Oçarmak, Deputy Minister of Trade of Turkey. The two sides discussed mechanisms for raising the efficiency of work at border gates and developing customs cooperation."

The meeting, according to the statement, addressed "ways to facilitate trade flows, increase the capacity of ports, and support infrastructure projects related to bilateral trade and transit."

The two sides affirmed their "keenness to raise the volume of trade exchange to $30 billion, enhance joint investments, and expand areas of cooperation through the Development Road project and the establishment of new customs ports."  link

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Tishwash:  Al-Sudani: Iraq's investments exceeded $100 billion in two years. 

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."  link

Mot:  Big plans today !!!!!

Mot: Don't Worry!!! -- It's a Scottish Thingy!!! 

“Tidbits From TNT” Sunday 8-10-2025

TNT:

Tishwash:  The Central Bank to Al-Maalouma: Our measures for banks are necessary, but not strict.

A member of the Central Bank's Board of Directors, Ahmed Brihi, confirmed today, Saturday, that the standards set by the bank to reform the banking sector are not strict or prohibitive, but rather aim to protect banks from collapse and ensure the safety of depositors' funds, in addition to preserving Iraq's international financial relations.

Brihi said in a statement to Al-Maalouma Agency, “The banking reform standards approved by the Central Bank related to private banks are not strict measures as promoted, but rather are necessary steps aimed at ensuring financial stability and preventing banks from collapsing.”

He added, "A number of private banks faced circumstances that disrupted their financial operations, which required the Central Bank to establish regulatory standards to protect them and depositors' funds."

He pointed out that "these standards also take into account the importance of maintaining the Central Bank's international financial relations, which represent a decisive factor in Iraq's monetary and financial stability."  link

Tishwash:  The Central Bank of Iraq's fines on banks and financial companies exceed 66 billion. 

The Central Bank of Iraq announced on Saturday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 66 billion Iraqi dinars during the first half of 2025.

Statistics from the bank showed that “the fines imposed on banks and financial companies during the past six months, starting from January/November until the end of last June, amounted to 66 billion, 210 million, and 955 thousand dinars,” indicating that “the fines also included 77 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts, and grace periods.”

The bank stated that, "These fines decreased from the same period last year, which amounted to 181 billion, 842 million, and 854 thousand dinars, while the penalties amounted to 151, distributed between warnings, cautions, and grace periods."

The bank did not name the banks subject to the fines or administrative penalties. There are approximately 51 private banks, including 23 private commercial banks and 28 private Islamic banks.  link

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

Tishwash:  Al-Sudani announces decisive steps to reform Iraqi banks and restore confidence in the financial sector.

Prime Minister Mohammed Shia al-Sudani affirmed on Sunday the continuation of the comprehensive banking reform process through three basic steps, emphasizing the need for implementation to be based on a balanced vision that takes into account the specificities of Iraqi reality and ensures enhanced confidence in the banking sector.

A statement issued by his office, received by Al-Mada, said, "Al-Sudani was briefed on the latest developments related to the banking reform paper, particularly those related to private banks, appreciating the efforts made by the Central Bank of Iraq in preparing the document, which aims to enhance financial stability, achieve transparency, and raise the efficiency of the banking sector."

The statement indicated that "the Prime Minister paid special attention to the observations contained in the letter from the Iraqi Private Banks Association dated August 3, which included challenges facing local banks in implementing some provisions of the document, particularly those related to capital increase requirements, the adoption of a strategic partner, the costs of contracting with foreign companies, as well as the binding timelines. Accordingly, Al-Sudani called for adopting a participatory and consultative approach between the Central Bank and Iraqi banks by forming joint technical committees to review reform requirements and ensure their compatibility with the national financial and economic reality, in a manner that maintains a balance between reform requirements and the capabilities of local banks and protects the interests of investors and workers in this vital sector."

Al-Sudani explained that "the three approved steps begin with opening an expanded dialogue between the Central Bank and the banks to clarify the technical aspects of the document and discuss possible implementation mechanisms and their gradual progression.

This includes taking into account the specificity of the Iraqi reality when applying international standards, while committing to reform in principle and formulating standards in a manner that enhances confidence in the banking sector. This is followed by reassuring the banking community through clear messages that the goal of reform is empowerment, not exclusion, and that the doors of discussion remain open to serve the national economy."

For his part, banking expert Majid Abdul Hamid told Al-Mada that "the document represents a necessary step to raise the efficiency of the banking sector and improve the business environment in Iraq, but its success depends on gradual implementation and linking each stage to a clear support plan." He explained that the immediate implementation of some provisions, such as increasing capital or requiring a strategic partner, could place small banks under significant financial pressure, which requires granting them appropriate periods of time to adapt.

Economist Ayad Al-Rawi explained to Al-Mada that "banking reform is part of a broader economic reform, and that raising technical standards for banks will boost the confidence of depositors and investors. However, he warned that the lack of effective communication with the public could lead to unjustified fears and sudden withdrawals of deposits."

He stressed that "gradualness and transparency in announcing measures will be key to the success of reform, calling for a supportive legislative and financial environment to reduce risks to the local market."

As the government continues its path of banking reform, the stakes remain on the ability of the relevant parties to balance adherence to international standards with their adaptation to Iraqi market conditions, thus preserving the sector's stability and enhancing its role in financing development and supporting the national economy.  link

Mot: . OK!!! --- Bringing OUT the ""RV Clock""

Mot: .. can ya sing um???? 

Shrinkflation is here and the Economy is Broken: John Rubino

Shrinkflation is here and the Economy is Broken

Liberty and Finance:   8-8-2025

A pivotal moment is unfolding in the precious metals space, according to John Rubino, as outlined in a recent video from Liberty and Finance. Rubino asserts that the long-awaited bull market for mining stocks is finally underway, driven by gold’s dramatic price surge and the strategic actions of key industry players.

Rubino explains that royalty and streaming companies, benefiting immensely from gold’s robust performance, are now flush with cash. This financial windfall is not sitting idle; these powerful entities are aggressively deploying capital into high-leverage deals across the mining sector.

This strategic capital deployment, Rubino asserts, is the definitive signal that the mining stock bull market, anticipated by many for years, has unequivocally begun.

However, Rubino’s insights extend beyond just precious metals, painting a broader picture of economic shifts and looming dangers.

He issues a stark warning about the rising political popularity of government price controls, which he describes as a dangerous form of “shrinkflation on steroids.” Such controls, Rubino argues, are not merely economic interventions but market distortions that inevitably erode quality across the economy, creating a façade of affordability while actual value diminishes.

Underlying these economic trends is a profound erosion of public trust. Rubino highlights a growing disillusionment with traditional institutions, ranging from main stream media to monetary authorities.

As faith wanes in the reliability and integrity of these pillars, individuals and investors are increasingly seeking refuge in tangible wealth.

Rubino points to a clear and accelerating shift into real assets like gold, farmland, and energy, as people fundamentally distrust fiat currencies and the systems backing them. This flight to real assets is a direct consequence of a world grappling with perceived institutional failures and economic uncertainties.

Rubino’s analysis paints a picture of a critical juncture, where a burgeoning bull market in mining stocks plays out against a backdrop of potential economic distortions and a broad flight from traditional financial assets.

For a deeper dive into these vital insights and the implications for your portfolio, viewers are encouraged to watch the full video from Liberty and Finance.

https://youtu.be/jlzFwxPfJ50

Not 1971, it was 1604, the Birth of Fiat Currency

Not 1971, it was 1604, the Birth of Fiat Currency

Miles Harris:   8-6-2025

Forget what you think you know about the most significant shifts in the history of money. Popular narratives often point to the dramatic severing of the dollar from gold by Nixon in 1971, the rise of powerful central banks, or the recent advent of digital currencies.

While these moments are undoubtedly pivotal, they may well be downstream effects of a foundational change that occurred centuries earlier, far from the bustling financial centers, in a quiet courtroom in Ireland.

In 1604, a little-known legal case posed a question that resonates profoundly even today: what gives money its value? The answer, delivered without fanfare or grand pronouncements, would quietly expand royal control and fundamentally alter the very structure of monetary power across the realm, laying an invisible bedrock for the financial systems we inhabit today.

This was no English common law ruling designed for immediate colonial subjugation; its setting in Ireland was crucial. It served as a potent demonstration of the Crown’s burgeoning ability to extend its legal authority and administrative reach across its diverse territories.

The case wasn’t about a new tax or a land dispute; it was about the very nature of coinage and the authority to define its worth. The verdict, though unheralded at the time, was a calculated move to centralize power, giving the sovereign an unprecedented degree of control over the economy.

The brilliance – and the subtle menace – of this 1604 decision lay in its quiet executionn. There were no headlines screaming revolution. No royal proclamations heralding a new era. Instead, it was a legal precedent, a ruling passed down in a courtroom, that began to redefine economic reality. It shifted the locus of monetary value from an intrinsic quality (like the weight of precious metal) to a declaration of authority. The Crown was asserting its right not just to mint coins, but to assign their value, even if that value diverged from their metallic content.

This subtle, yet seismic, shift had profound, long-term implications. It began to decouple money’s value from its material composition, paving the way for the eventual concept of fiat currency – money whose value is derived from government decree rather than a physical commodity.

 The principle that a government’s stamp, its legal tender status, could effectively determine a currency’s worth overrode the simple equation of gold or silver content.

To truly understand how money functions today, how its value is created, controlled, and manipulated, we must look beyond the well-trodden paths of 20th and 21st-century finance. The threads of our modern monetary system stretch back an astonishing four centuries, to a seemingly obscure legal skirmish in Ireland.

It was here, in 1604, that the Crown quietly planted the seeds of a new monetary paradigm, a paradigm where legal authority, rather than market forces or metallic content alone, became the ultimate arbiter of value.

For further insights into this fascinating and overlooked chapter in monetary history, and to uncover the detailed mechanics of this pivotal legal case, explore the full video from Miles Harris. It’s a journey that rewrites our understanding of when and how one of history’s most important economic transformations truly began.

https://youtu.be/xdZpyeLuVI4

https://dinarchronicles.com/2025/08/07/miles-harris-not-1971-it-was-1604-the-birth-of-fiat-currency/

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

Good Afternoon Dinar Recaps,

Bank of England Expected to Cut Interest Rate to 4.0% Despite Rising Inflation

• BoE expected to cut rates from 4.25% to 4.0%

• UK inflation accelerates, while growth continues to contract

• GBP/USD at risk of falling toward August lows near 1.3140

The Bank of England (BoE) is poised to announce a 25-basis-point interest rate cut on Thursday, reducing the benchmark rate from 4.25% to 4.0%, according to growing market consensus. Analysts expect that seven out of nine Monetary Policy Committee (MPC) members will vote in favor of the cut, up from just three in the previous meeting.

The decision will be accompanied by the meeting Minutes and the Monetary Policy Report, offering insight into the BoE’s updated economic outlook and inflation projections. Following the announcement, Governor Andrew Bailey is scheduled to deliver a press conference outlining the rationale behind the rate cut and potentially signaling the bank’s future policy trajectory.

Economic Backdrop: A Conflicting Picture

The BoE last held rates steady in June. At that time, three MPC members cited:

• Weakened labor market conditions

• Subdued consumer demand

• Wage growth trending toward sustainable levels

Since then, economic indicators have continued to show strain:

• UK GDP contracted 0.1% MoM in May, following a 0.3% contraction in April

• Production output fell 0.9%

• Construction output declined 0.6%

• Services output rose slightly by 0.1%

These figures paint a troubling picture of a slowing UK economy, just ahead of the Q2 GDP estimate set for release on August 14.

Inflation Rebounds—Complicating the BoE’s Dilemma

Despite declining growth, inflation rose sharply in June:

• Headline CPI climbed to 3.6% YoY, up from 3.4% in May

• Core CPI increased to 3.7% YoY, from 3.5%

• Services inflation held steady at 4.7%, with food prices showing their biggest jump since February 2024

Meanwhile, labor market conditions continue to loosen, with the unemployment rate climbing to 4.7% in April, from 4.4% at the start of the year.

As the central bank weighs slowing growth against persistent inflationary pressures, Governor Bailey recently reiterated:

“I really do believe the path is downward”—referring to interest rates.

Revised Economic Forecasts Expected

Analysts anticipate that the BoE may:

• Upgrade inflation projections due to sticky services inflation and rising food prices

• Downgrade growth expectations, reflecting weak consumer demand and broad-based output declines

Market Reaction: GBP/USD Faces Downside Risk

Ahead of the announcement, GBP/USD is trading just above 1.3300, struggling to extend gains. The central bank’s split vote and cautious tone are expected to exert downward pressure on the British Pound.

According to Valeria Bednarik, Chief Analyst at FXStreet:

“The GBP/USD pair hovers around its weekly peak in the 1.3330 region, without any technical sign of additional gains ahead.”

She continues:

“The pair could turn bullish only if it breaks above 1.3400, an unlikely scenario given the expected BoE announcement. On the downside, watch the 1.3250 support—if breached, GBP/USD could target the August low at 1.3141.”

Conclusion

The Bank of England faces a complex policy crossroads: inflation is rising, but growth is faltering. While a rate cut appears imminent, the communication strategy and vote split may be the biggest market movers. The fate of the GBP/USD pair hangs in the balance, with downside risks mounting unless the BoE delivers a surprisingly hawkish outlook.

@ Newshounds News™
Source:  BeInCrypto

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Canada & Mexico to Join BRICS? The Fall of the US Dollar in 2024?

• Exploring BRICS Expansion in the Western Hemisphere

• Mexico formally declines BRICS membership

• Canada remains silent on BRICS engagement

• Is the US Dollar's global dominance at risk?

Potential Expansion of BRICS: An Analysis of Canada and Mexico’s Involvement

The BRICS bloc—originally composed of Brazil, Russia, India, China, and South Africa—has been rapidly expanding. In August 2023, the alliance extended invitations to several countries, five of which officially joined in 2024. This growth has sparked speculation about whether Western-aligned nations, including Canada and Mexico, could eventually pivot toward BRICS, potentially accelerating dedollarization efforts worldwide.

Mexico’s Stance on Joining BRICS

Speculation surrounding Mexico’s potential entry into BRICS intensified in mid-2023, ahead of the bloc’s August summit. However, Mexican President Andrés Manuel López Obrador publicly refuted such claims, affirming that Mexico would not seek membership in the alliance. The decision aligned with Mexico’s longstanding trade, economic, and geopolitical ties with the United States under frameworks such as USMCA.

Canada’s Position Regarding BRICS

In contrast to Mexico, Canada has made no official statements regarding BRICS membership. To date, there have been no public discussions, diplomatic engagements, or policy shifts that indicate Canadian interest in aligning with the BRICS bloc. Canada remains a core member of Western institutions such as the G7, NATO, and the OECD, further reinforcing its alignment with the existing US-led financial order.

Will Canada and Mexico Join BRICS?

Based on current geopolitical alignments, it appears highly unlikely that either Canada or Mexico would pursue BRICS membership in the near term—particularly with the explicit goal of weakening or replacing the US Dollar. While 2023 saw increasing concerns over the dollar’s global dominance, including inflationary pressures and internal US political division, both Canada and Mexico remain deeply integrated into the US-centric financial and security architecture.

BRICS’ Aspirations and Western Countries’ Responses

BRICS continues to push for greater economic sovereignty and a shift away from dollar dependency, aiming to promote settlement in local currencies and eventually introduce a shared digital or commodities-backed currency. These efforts have been well-received in parts of the Global South and among energy-exporting nations seeking alternatives to SWIFT and IMF dollarization structures.

Yet, the idea that NATO-aligned nations such as Canada and Mexico would join this movement remains speculative at best. Their participation in the US-led global order, access to Western capital markets, and dependence on the North American economic ecosystem make BRICS membership both politically improbable and economically costly.

Conclusion: Realignment or Rhetoric?

Despite BRICS’ expansion and continued calls for monetary multipolarity, neither Canada nor Mexico are expected to deviate from their current trajectories. While the US Dollar faces challenges, its foundational role in global trade, reserves, and institutional finance still ensures that Western partners remain tethered—for now.

As BRICS gains more influence in the Global South, 2024 will be a year to watch—but expectations of Western defection to the bloc remain premature.

@ Newshounds News™
Source:  aped.ai

~~~~~~~~~

BRICS to Discuss Joint Response to Trump’s Tariffs

• Lula calls out Trump’s “unilateralism” and threat to multilateral trade

• BRICS members may coordinate action in response to rising tariffs

• Brazil, India, and China seek a unified strategy to limit U.S. economic pressure

Lula Urges BRICS Coordination Amid Rising U.S. Tariffs

The BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—is preparing to discuss a coordinated response to U.S. President Donald Trump’s escalating tariff threats. The initiative comes directly from Brazilian President Luiz Inácio Lula da Silva, who criticized Trump’s approach to international trade as a deliberate attempt to undermine multilateral institutions.

“What President Trump is doing is tacit — he wants to dismantle multilateralism, where agreements are made collectively within institutions, and replace it with unilateralism, where he negotiates one-on-one with other countries,” Lula told Reuters.

President Lula stated that he would initiate conversations with fellow BRICS leaders, beginning with Indian Prime Minister Narendra Modi on Thursday, followed by China’s President Xi Jinping and others. His goal: to understand how each nation is affected by the U.S. measures and to formulate a joint response.

“I’m going to try to discuss with them about how each one is doing in this situation, what the implications are for each country, so we can make a decision.”

Where BRICS Tariffs Currently Stand

• U.S.–Brazil Tariffs: Currently at 50%

• India Tariffs: Increased today by 25%, now totaling 50%

• China–U.S. Tariffs: Paused for now

• Russia Tariffs: Above 30%

• Canada Tariffs: Recently raised to 35%

• EU Goods: Settled at a new 15% tariff

Trump has recently labeled the BRICS alliance as “anti-American”, issuing public threats to impose an additional 10% blanket tariff on bloc members. Some individual BRICS nations, notably India and China, have explored bilateral deals with the U.S. to mitigate tariff effects. However, growing pressure may force a unified BRICS front to resist escalating U.S. protectionism.

Brazil’s Leadership Role in BRICS Response

President Lula emphasized that Brazil currently holds the BRICS presidency, granting it a leading role in shaping the bloc’s diplomatic and economic posture. In his interview, he expressed concern not just over tariffs, but over Trump’s broader agenda to dismantle multilateral norms:

“I want to discuss with our allies why Trump is attacking multilateralism and what his goals may be.”

Notably, Lula did not reference any intention to engage Trump directly as part of this initiative, suggesting that the response will remain within the BRICS framework for now.

The Bigger Picture: Trump’s Tariff Offensive

In recent days, President Trump has accelerated a wave of protectionist trade measures as part of his self-imposed tariff deadline. These include:

• 35% tariffs on Canadian imports

• 50% tariffs on Brazilian goods

• 15% settled tariffs on EU exports

All of this appears to be part of a broader realignment of U.S. trade policy aimed at strengthening leverage ahead of key diplomatic deadlines.

Conclusion: BRICS Eyes a Coordinated Strategy

The growing web of tariffs has created significant uncertainty for global markets and placed BRICS nations on alert. As Lula takes steps to convene the bloc’s leadership, the prospect of a cohesive BRICS economic strategy—and possibly retaliatory action—marks a pivotal moment in the evolving U.S.–BRICS relationship.

@ Newshounds News™
Source:  Watcher.Guru    

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