Jamie Dimon Warns About America’s Coming Debt Crisis

Jamie Dimon Warns About America’s Coming Debt Crisis

Notes From the Field By James Hickman (Simon Black)  June 2, 2025

Jamie Dimon is one of America’s most prominent and successful CEOs; he built JP Morgan Chase into a $4 trillion juggernaut, so it’s fair to say that he understands global finance in a way that most people-- and most politicians-- do not.

 On Friday, Dimon sat down for a 30+ minute live interview at the Reagan National Economic Forum-- named after the 40th President who constantly preached cost-cuts and responsible spending.

Dimon opened his remarks talking about Reagan, who sounded the alarm about the national debt back in the early 1980s when America’s debt to GDP ratio was just 35%. Today it’s 122%. And with each passing year the number becomes even worse.

 Dimon warned the audience that “tectonic plates are shifting,” referring to America’s status as the dominant superpower in the world-- which is rapidly slipping.

 “The amount of mismanagement is extraordinary,” he said. America has added $10 trillion to the national debt in just five years… and for what benefit? Is the country $10 trillion better off? Did any of that $10 trillion improve the lives of anyone who isn’t in Washington DC?

 But all of that debt is quickly reaching a point where it will become nearly impossible to service. Just covering the interest payments on the national debt now costs taxpayers more than $1 trillion per year. And if the current trend on rates and deficit spending hold, it will reach $2 trillion per year by 2028.

(He joked that the government spending is worse than the proverbial “drunken sailor,” because at least a drunken sailor spends his own money.)

 As a result of this insane level of debt and spending, Dimon warned, “you are going to see a crack in the bond market. It’s going to happen.”

 What he means is that US government bonds have long been considered the global “risk-free” asset… and whenever the Treasury Department would sell more bonds, investors would dutifully buy as much debt as the government was selling.

 But that’s no longer the case. “Bond vigilantes are back”, Dimon agreed, and investors are now shunning US government securities.

 This is going to cause a major problem for the United States; running such huge deficits year after year means the Treasury Department NEEDS lenders, it NEEDS investors to buy US government bonds.

 If investors pull back, the natural consequence will be MUCH higher Treasury yields and interest rates, resulting in a full-blown fiscal crisis in the United States… including major inflation.

 “The future- what I see-- is inflationary,” Dimon predicted. “I don’t know if the crisis will be in six months or six years, [but] I’m hoping that we change. . . the trajectory of the debt” before that crisis occurs.

 It was a pretty blunt warning to a room full of policymakers-- which included several officials from the Federal Reserve and the Trump administration.

 Dimon is absolutely right, of course. Peter and I have been talking about this same debt crisis for years, and it’s only become worse.

For someone of Dimon’s gravitas to sound the alarm bells is a big deal-- and he echos Warren Buffett’s most recent annual letter which similarly admonishes the federal government to get its fiscal act together.

 Sadly, it doesn’t appear that the government is listening.

 On Sunday, Treasury Secretary Scott Bessent dismissed Dimon’s warnings and claimed, rather bizarrely, that “the deficit this year is going to be lower than the deficit last year, and in two years it will be lower again.”

 That statement is just patently false.

 In Fiscal Year 2024, the $1.8 trillion deficit constituted 6.4% of GDP. This year’s deficit hit $1.3 trillion just in the first SIX MONTHS! Let’s be kind and assume that the annual deficit this year will be ‘only’ $2.0 trillion, or 6.6% of GDP -- that would amount to a higher deficit on both a nominal and relative basis.

 Plus, the “One Big Beautiful Bill” will add quite a bit more to the deficit. Don’t get me wrong-- tax cuts are great. But spending cuts are even more critical right now… and this bill is extremely deficient in that department.

 Senator Rand Paul confirmed this later and said (of Bessent’s comments), “the math doesn’t really add up” and that the administration’s current spending plan is to have a total deficit of “five trillion over [the next] two years”.

 Any way you slice it; the deficit is increasing… not decreasing.

 Elon Musk lamented this as well, saying that he was “disappointed” by how the spending/tax bill increases the deficit.

 There do seem to be a handful of Senators willing to take a stand and demand bigger spending cuts. We’ll see how that pans out. But it’s clear that the majority of politicians don’t have a care in the world about the deficit.

 They almost have a sense of entitlement in assuming that investors from around the world will continue buying US government bonds no matter how precarious America’s fiscal situation becomes.

Jamie Dimon closed his remarks talking companies in the private sector who had a similar sense of entitlement-- Kmart, Sears, Blackberry, Nokia, etc. all had tremendous “arrogance, greed, complacency, bureaucracy.”

 They all assumed their greatness and success would last forever. But that’s a horrible assumption. Greatness and success have to be earned every day, year after year.

 The US government has been doing the opposite for far too long; rather than earning success and greatness, they find unique ways to cripple themselves and make things worse.

 Dimon rightfully pointed out that the ship can still be turned around. And it can. But it certainly makes sense to have a Plan B in case they don’t. These risks are very real, and it’s sensible to take them seriously.

 To your freedom,  James Hickman   Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/jamie-dimon-warns-about-americas-coming-debt-crisis-152892/?inf_contact_key=10f9bd3e707d2d9c6e43487e62db53cbf2dd6ac02ffa012fb72df8aa66cf6bc6

FRANK26….6-2-25……LET’S TALK

KTFA

Monday Night Conference Call

FRANK26….6-2-25……LET’S TALK

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE=IMPLEMENTATION

https://www.youtube.com/watch?v=taFW8Lhj6AI

Economist’s “News and Views” 6-2-2025

Gold's Ultimate Safe-Haven Status Becomes Obvious

Mike Maloney & Alan Hibbard:  6-2-2025

The gold price is currently $3373, the silver price is now $34.24 Are we witnessing the final—and most explosive—stage of the gold bull market?

In this powerful episode, Mike Maloney and Alan Hibbard expose the seismic shift happening in global finance. As the dollar, stocks, and bonds falter simultaneously—a rare phenomenon last seen in the 1970s—gold is surging to new heights.

 They dive into data, charts, and historical comparisons that show why gold is reclaiming its throne as the world’s ultimate safe-haven asset.

Discover:

Why investors worldwide are abandoning fiat currencies

How today’s economic chaos mirrors the 1970s gold explosion

 Four solid reasons to own gold NOW

How central bank demand is building a rising floor under gold prices

Plus, get Mike’s take on tariffs, trade wars, and why these policies might plunge us into stagflation or worse.

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

$100 Billion ‘Ghost Field’ Discovery Could Power America for 30,000 Years

It has the potential to drive down energy cost here in the United States and rebuild manufacturing,” says financial journalist and research economist Garrett Baldwin.

In an eye-opening interview with Daniela Cambone, Baldwin reveals a groundbreaking energy development powered by Enhanced Geothermal Systems (EGS), a technology with the power to transform the U.S. energy grid.

According to Baldwin, unlike solar and wind, EGS taps into the Earth's virtually unlimited heat, providing 24/7, clean, base-load power—and it’s already happening on U.S. public land.

 “I looked at this story out in Utah… I’d never seen anything like it before.”

https://www.youtube.com/watch?v=BA5LWeLqkBs

They Just Revealed Their Plan to Deal with the Debt Crisis

Heresy Financial:  6-2-2025

TIMECODES

00:00 The Promise of Fiscal Change (and the Disappointment)

 00:28 The Debt Is Growing—Here’s the Real Plan

01:35 The 4 Ways a Country Deals with Debt

01:46 Option 1: Inflation (And Its Dangers)

 02:48 Option 2: Austerity Explained

03:45 Can the U.S. Really Cut Back?

 05:19 Option 3: Default (Why It Won’t Happen)

06:43 Option 4: Growth (The Current Strategy)

07:41 Does Tax Cuts = Economic Growth?

 08:58 Growth Needs More Than Just Tax Cuts

09:42 Deregulation, Innovation & Government Interference

11:02 The Hidden Cost: Inflation Still Hits Hard

11:51 How to Prepare for What’s Coming (Black Swan CTA)

12:04 Final Thoughts

https://www.youtube.com/watch?v=ENhQtnz-BN0

Finally Hit It Rich? Here are the Top 5 Reasons To Never Share That With Anyone

Finally Hit It Rich? Here are the Top 5 Reasons To Never Share That With Anyone (even your closest friends)

Vishesh Raisinghani   Mon, June 2, 2025  Moneywise

If you’ve managed to accumulate some wealth, showing it off can often be tempting. After all, what’s the point of success if you can’t indulge in it?

However, a growing cohort of ultra-wealthy Americans are trying to conceal their wealth rather than flaunt it openly. Here are five reasons why stealth wealth or quiet luxury lifestyles are gaining traction and why you should consider concealing the true extent of your fortune.

Privacy and security

Being publicly wealthy could make you a prime target for thieves, fraudsters and criminal gangs. According to Silicone Valley Bank’s coverage of a study by Experian and the Department of Justice, identity theft is 43% more prevalent among the affluent.

Organized criminal gangs have targeted celebrities like Kim Kardashian and Paris Hilton, while high-profile athletes in major leagues such as the NFL and NBA are at risk of targeted home invasions, according to an the FBI report obtained by ABC News.

Business Insider even reported that Warren Buffett evaded a kidnapping in the 1980s.

With this in mind, downplaying your fortune could be the best way to safeguard your privacy and protect your family.

Broken relationships

Money has an undeniable impact on your personal relationships, especially if your loved ones are not on the same page as you when it comes to finances.

While it’s not a good idea to hide your financial standing from a legal spouse, new friendships and certain family members may be another story. Roughly 57% of Americans admit to feeling envious of someone else’s financial situation, according to a 2023 finance survey.

Put simply, hiding your income and wealth could be a great way to sustain your relationships.

Avoid lifestyle creep

One of the pitfalls of flaunting your wealth is that it’s difficult to stop. Once you’ve bought a fancy house or luxury vehicle, downgrading could be embarrassing which puts pressure on you to sustain that lifestyle.

TO READ MORE:  https://www.yahoo.com/finance/news/finally-hit-rich-top-5-120700558.html

6 Money Lessons From Rachel Cruze That People Hate the Most

6 Money Lessons From Rachel Cruze That People Hate the Most

Nicole Spector  Mon, June 2, 2025   GOBankingRates

“The truth hurts!” is the kind of puerile retort we’re used to hearing in elementary school scrimmages and on trashy daytime talk shows. Yet, sometimes, this is a pretty spot-on sentiment. Scientific research has found that hearing the truth really can be hurtful. But it’s also usually necessary for growth. And this applies to our financial lives as much as, if not more than, anything else.

In her more than 15 years of working in the personal finance space, Rachel Cruze has found that there are some money truths, or lessons, that especially rub people the wrong way. Here are the six things that Cruze teaches about money that folks hate to hear about the most.

Don’t Buy a New Car Until You’re a Millionaire

No financial expert wants you to go out and buy a new car if you can’t afford it, but Cruze runs extra conservative here. She disapproves of anybody buying a new car if they have a net worth under $1 million. Many people don’t like her take, but it’s worth hearing out. New cars depreciate rapidly the instant you drive them off the lot. And they just keep plummeting in value over time.

“If you have the margin to be able to take that financial hit and it’s not a big deal in your world overall, then that’s OK to do,” Cruze said.

Eliminate Credit Cards From Your Life

We all know that credit cards can hurt us if we’re not careful, but we may not recognize just how careful we need to be. And we may not realize that credit card companies are constantly coming up with ways to seduce us into spending more. Think travel points and cash-back rewards.

Cruze advises people to stay away from credit cards entirely — advice people tend to find is unrealistic or overly aggressive. But honestly, most people aren’t paying off their credit cards every month, even though they know they should be. Additionally, a no-credit-card life is a pretty peaceful one.

“When you choose a life without debt, not only mathematically are you not sending your income to banks instead of keeping your income and investing it for yourself, there’s also an emotional aspect:When you have autonomy over your money completely … there is a level of peace that comes with that,” Cruze said.

Combine Checking Accounts With Your Spouse

TO READ MORE:  https://finance.yahoo.com/news/6-money-lessons-rachel-cruze-180035778.html

Final Bull Leg Underway Before Market Collapses in Global Bust

Final Bull Leg Underway Before Market Collapses in Global Bust

Commodity Culture:   6-2-2025

David Hunter, renowned strategist and market forecaster, recently joined Jesse Day on Commodity Culture for a compelling discussion about the current state of the global economy and what lies ahead.

While many analysts are already bracing for a downturn, Hunter’s perspective offers a more nuanced, albeit ultimately dire, outlook: he believes we’re headed for one last, significant leg up in the broad market before experiencing a global bust of unparalleled magnitude.

In the interview, Hunter articulated his belief that the market still has room to run on the upside. He cited factors such as persistent liquidity in the system and lingering inflationary pressures as fuel for a final surge. However, he cautioned that this bullish phase is merely a prelude to something far more devastating.

Hunter attributes this impending collapse to a confluence of factors: unprecedented levels of global debt, reckless monetary policies, and a distorted financial system.

He believes that when the inevitable turning point arrives, the resulting deleveraging and economic contraction will shake the foundations of the global economy.

Given his bleak outlook, Hunter also discussed potential strategies for protecting wealth during the anticipated market crash. He emphasized the importance of diversifying assets and considering alternative investments that are less correlated with the broader market.

David Hunter’s forecast presents a sobering perspective on the future of the global economy. While acknowledging the potential for a final market rally, he underscores the urgent need for investors to prepare for an unprecedented economic collapse. By understanding the potential risks and strategically repositioning assets, investors can navigate the coming storm and potentially protect their wealth during one of the most challenging economic periods in history.

The key takeaway? Prepare now, because the window of opportunity may be closing.

https://youtu.be/3hPqJ6D8R4w

Monday Coffee with MarkZ. 06/02/2025

Monday Coffee with MarkZ. 06/02/2025

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Monday Morning…..Welcome to June

Member: Mark I hope you’ve got some good news today, we surely need it

Member: Rumor is we RV around the 4th of July.

MZ: I have not heard anything specific to July 4th…but, I am starting to hear some good stuff from the Historic bond side….about late this week through the upcoming weekend.

MZ: This comes from a couple bond folks I have not heard from in a while.  This is a different group then the contacts that had gone quiet. They feel very upbeat for June.  They are hearing they are to go before the first and second week of June.

 MZ: It’s kinda surprising I heard from the bond holders this morning…usually we don’t hear anything from them on Mondays. I hope to get more updates later today.

Member: So is there a chance the RV happens in June?

MZ: There is a great chance.

Member: Mark, do you believe currencies will go shortly after the bonds?

MZ: I think they will go between the initial bond payments and bonds being fully paid. After the initial payment we should get a revaluation….then a reset……then bond folks get paid their balances while we are going to the banks. If I understand the process properly.

Member: I wonder- What percent of bonds are paid out so far?

Member: It does not look fun to be a bond holder. Do they eer complain about being strung along.

MZ: Yes …absolutely they complain…all the time…..but their rewards will make their waiting worth it. Hopefully they get it done this summer- preferably in June.

Member: Hey Mark, maybe this whole thing happens on Juneteenth (June 14th) since that holiday was the end of slavery and that would be a good time to end our debt slavery??

Member: June 14 is Flag Day & DJT Birthday & 250th Birthday of Navy during the 250th USA Celebration that started May 26 ... wave the Victory Flag at the Finish Line? ..

Member: Basel III deadline is July1 hope that means something. LOL

Member: I don't look for it to happen till the announcement the change from Fiat to Asset Backed currency.

Member: Judy Shelton says Trump will offer 50 year gold back treasuries July 4, 2026

MZ: Great reminder-Judy Shelton is Trumps “Gold bug” so we should have a new gold/asset backed currency by then.

Member: Trump met with Powell over the weekend, and then the rumor came out –Powell is resigning

Member: Why do you think it's taking so long? Overall, for everything arrests, the rv, their big reveals?

Member: Could they be dragging this on hoping we would become desperate and take a lower rate?

Member: At what point do we start blaming the White Hats for the length of this because this has been done for a long time and we are just Watching A Movie! Please don’t let there be a sequel!

MZ: Yes…this movie sucks.

Member: Yes- This movie Sucks! Time to replace the script writers!

Member: Had a Quick chat with a guy from Zimbabwe yesterday, asked him if he was ready for the currency change, and got a BIGLY smile and a yes, in return

Member: I was reading that Iraqi people have hit the streets protesting financial issues.

Member: Rumor is July 14, Iraq is going digital

Member: What’s Iraq goes digital with their deposits that should settle the HCL which will pave the way for the reset

MZ: “Parliamentary Finance: The region’s salaries were disbursed as an advance until revenues are delivered”

MZ: “Government Consultant:  Iraq will enter the era of electronic collection fully in the middle of this year. “  It is June so just about the middle of the year. This will alleviate a lot of problems with the Kurdistan region.

Member: Mogadishu Refinery Find Triggers Iraq’s Hunt For $100B In Lost Global Assets

Member: Won’t it be amazing when we are on the other side of this doing good work changing the world…

Member: But if you look on the Bright Side of this , it's Never been this close !! I'm happy with where we are !!

Member: Have a wonderful & blessed day everyone

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL  TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!  FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

Youtube:     https://www.youtube.com/watch?v=lciSgCCPQWs

News, Rumors and Opinions Monday 6-2-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 2 June 2025

Compiled Mon. 2 June 2025 12:01 am EST by Judy Byington

Sun. 1 June 2025: THE FINAL STRESS TESTS ARE COMPLETE — QFS GOES GLOBAL NEXT …Ben Fulford on Telegram

Over the last 72 hours, I’ve received confirmation from 3 separate banking insiders: all systems tied to the new sovereign QFS network passed their final validation protocols.

• Biometric access nodes were stress-tested at 10,000+ concurrent logins
• Real-time cross-border test transfers completed in under 1.8 seconds
• Regional nodes across 12 countries returned 100% success rates under military oversight

This isn’t theoretical anymore. It’s done. The tech works. The funding is mapped. The codes are locked.

The reason they’ve delayed the public rollout until July 4? Coordination. Security. Timing. You don’t turn on the new financial system mid-chaos — you wait until every actor is boxed in, every backdoor closed.

The military is now watching every central bank channel. They’ve seized key data centers in Switzerland and Singapore.

This is a controlled ignition — and it’s going to change the planet.

Get ready.

~~~~~~~~~~~~~

Sun. 1 June 2025 Forest Gorillas on X: https://x.com/forestgorillas/status/1929207284632031366?s=46&t=lgh4YJTE-Tf8EbYrH8a69g

The substantial transactional volume confirms the revaluation process moved beyond technical staging on May 30 into active economic execution.

The $4.8101 international rate on the Iraqi Dinar is both supported and enforced by real liquidity flows and market positioning, making it the de facto exchange value pending public retail FX-VU.

Retail market exposure on FOREX platforms is the remaining step to complete public validation, forecasted for Monday, June 2, 2025, at market open.

~~~~~~~~~~~~~~

Sun. 1 June 2025 Wolverine:

The Pentecostal Group started the process on Fri. 30 May as promised. They are scheduled to be paid on Wed. 4 June 2025.

On Sat. 31 May trigger groups were expected to come out, but evidently it has been moved till the 4th of June. A lot of people are now saying the 4th of June to the 9th June that funds are going to get released.

I have also spoken to an owner of a platform and he told me that he can’t say anything at the moment and he told me to have faith in him as everything is looking excellent and that any day those funds will be released on that platform.

TNT is saying the likely scenario is tonight FOREX is supposed to load the rate again tonight and we could go to the bank tomorrow. Worst case is FOREX loads Sunday upon FOREX reopening and we’re in the bank on Monday. They sound very confident and I pray that they are right.

Now there are people criticizing gurus that we are doing an injustice to people by creating hopium which is completely false. Everyone is trying to do something to help us go through and we are not in the business in creating false information just to make you feel good which at the end all it does is hurt people .Please respect everyone that is trying to help.

I’m praying a lot and having faith that any day we will be shouting “FREEDOM “ God bless you all. Your friend and servant. Wolverine

~~~~~~~~~~~~~

Sun. 1 June 2025: BREAKING – THE GOLD IS GONE. TRUMP KNEW. THEY SILENCED HIM. …Nesara Gesara 2.0

In early 2025, Trump announced a full audit of Fort Knox. Then he vanished. Musk backed him. He vanished too. No audit. No press. No gold. The most secure vault on Earth — and not one shred of proof the gold exists.

Fort Knox hasn’t had a public audit since 1974. Not a single full inventory. No third-party review. Just blind national faith.

In February 2025, Trump swore to reveal the truth. Days later: total blackout. Musk, who called for live streamed cameras, went silent. Coordinated censorship. What did they see?

147 million ounces of gold? Only on paper. No proof. No footage. No evidence. Just digits. Meanwhile, Senator Mike Lee, cleared for nuclear sites, was denied entry into Fort Knox. Let that sink in.

Rand Paul demanded an independent audit. They laughed. They mocked. But they didn’t say, “Here’s the gold.” Because they couldn’t.

In 1933, FDR seized private gold. Promised safety. Shipped it to Fort Knox. Never seen again.

Then in 1971, Nixon severed the dollar from gold, turning Fort Knox from treasure vault to propoganda prop. Since then? Just symbols. Not substance.

Insiders whisper: bars filled with tungsten. Looks real. Worthless inside. No bar has ever been drilled. No true test. If even one bar is fake, the dollar is a lie.

Trump said, “If the gold isn’t there, we’ll be very upset.” Then silence. Not casual silence — classified silence. Same with Musk. Proposed a broadcast. Then disappeared. No tweet. No post. Nothing. This wasn’t retreat. This was suppression.

In 2012, Germany requested its gold back from the U.S. It took 7 years. Discrepancies reported. If we couldn’t return their gold, do we even have ours?

Every annual “audit” is run by insiders. No press. No public. No footage. No witnesses. That’s not an audit — that’s a cover-up.

This isn’t about gold. This is about control. This is about a financial illusion propped up by secrecy, deception, and steel doors. Fort Knox is not a vault. It’s a prison for the truth.

Trump tried to finish the mission. Now it’s OUR TURN. DEMAND THE AUDIT. DEMAND THE TRUTH. Because if the vault is empty — so is America’s future.

Read full post here:  https://dinarchronicles.com/2025/06/02/restored-republic-via-a-gcr-update-as-of-june-2-2025/

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat   We know about what the TRUE rate of the dinar should currently be based on its assets. The IMF is going to a strict asset-based evaluation of currency values. This is a Basel requirement. So, what has been preventing this revaluation to the TRUE rate of the dinar?  ...it was mostly the AML [Anti-Money Laundering] issue...i.e. banking reforms... efforts were put on warp speed to complete the AML reforms as acceleration began in early January 2023...   [Post 1 of 2....stay tuned]

Mnt Goat  ...we now get a sense of a real change...a sound transition away from those sanctioned days of Iraq since 1990’s. It is a new Iraq and it is here now...So, it puzzles me as to why the currency also does not NOW reflect this change. But I assure you it will, and it won’t be long until it does...The AML efforts is sprouting great benefits to Iraq and allowing them to move ahead quickly now.  [Post 2 of 2]

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

FRANK26….ALOHA….6-1-25…INTEL?

6-1-2025

https://www.youtube.com/watch?v=rFmn8Os6nis

Iraq Economic News And Points To Ponder Monday Morning 6-2-25

They Made Half A Billion In A Year... E-Cards Become A "Dollar Smuggler" After The Remittance Loophole Was Closed In Iraq.
 
Economy     2025-06-01 | 6,035 views   Alsumaria News-Politics  revealed The Wall Street Journal on Sunday details that led to the reduction of withdrawal and spending limits on electronic cards outside Iraq, and the suspension of many of them.
 
The newspaper pointed to a jump of approximately 3,000% in MasterCard and Visa card transactions in Iraq, as armed factions and entities smuggling dollars to Iran resorted to these cards after losing the financing loophole through import remittances. The newspaper stated, "Just two years ago, the Iraqi market represented marginal value for Visa and Mastercard, generating less than $50 million per month in cross-border transactions at the beginning of 2023.

However, this value exploded to nearly $1.5 billion in April of the same year, an increase of nearly 2,900% in a short period."
 
The newspaper notes that what has changed, according to American and Iraqi officials and documents, is that armed factions have been extracting dollars through these cards, via the Visa and MasterCard payment networks,
 
after the US Treasury Department closed a major loophole used to fraudulently obtain dollars via foreign money transfers.
 
The newspaper explained that the factions had found a plan to use electronic payment cards after this loophole was closed, but the Treasury informed the card-issuing companies that armed groups were involved in using these cards.
 
It took the companies months to reduce financial transactions, and these transactions declined,  
but remained between $400 million and $1.1 billion per month until the beginning of this year.
 
The Central Bank even recently set a maximum of $300 million per month to control these payments.
 
The newspaper explains that because of the existence of an official and an unofficial rate, people would
 purchase electronic cards and   withdraw them in dollars outside Iraq in other Middle Eastern countries at the official rate.
 
They would then send the funds back to Iraq to be converted into dinars at the market rate,
earning profits of up to 21%.
 
The result was a thriving trade for powerful Iraqi factions.
 
The newspaper confirms that Visa and MasterCard generated profits from these transactions ranging between 1% and 1.4%.
 
Iraqi cardholders participating in the scheme are estimated to have generated profits of approximately $450 million in 2023 alone,  while foreign cards alone generated $120 million.
 
Revenues are estimated to have grown by 60% in 2024.

The newspaper says that in recent days, the Treasury Department has formally requested that the Central Bank of Iraq block more than 200,000 cards held by militia members due to fraud concerns.
 
Meanwhile, Federal Reserve and Treasury officials have begun asking Visa and Mastercard to explain the increase in transactions in Iraq in 2023 and have held regular meetings on the Iraqi market, including with officials from the Central Bank of Iraq in 2024 and early this year.
 
Card companies began taking concrete action in March.     
  
https://www.alsumaria.tv/news/economy/528261/ربحوا-نصف-مليار-في-عام-البطاقات-الالكترونية-تتحول-الى-مهرّب-دولار-بعد    

Mogadishu Refinery Find Triggers Iraq’s Hunt For $100B In Lost Global Assets

Iraq Jawad Al-Samarraie May 30, 2025 AL Rafidain Bank branch in London, opened in 1954
 
Baghdad (IraqiNews.com) – A startling revelation at the Arab Summit in Baghdad this May has jolted Iraq into confronting a forgotten legacy:
 
a sprawling international portfolio of properties and investments, potentially worth at least $100B,
that has languished in neglect and obscurity for two decades.
 
The unexpected news of a large, Iraqi-built oil refinery still standing in Mogadishu, Somalia, has served as a dramatic wake-up call, triggering a renewed effort to trace and potentially reclaim these vast, squandered national assets.
 
The ghost refinery in Mogadishu, constructed in 1978 under a bilateral agreement and largely forgotten by Iraqi officialdom since 2003, was brought back to Baghdad’s attention by Somali President Hassan Sheikh Mohamud.
 
He informed Iraqi Prime Minister Mohammed Shia Al Sudani that the facility merely requires technical rehabilitation to become operational – a timely prospect as Somalia begins exploring offshore oil.
 
This single revelation underscored a much larger, more complex issue:
Iraq’s dozens of lost properties scattered across three continents.
 
During its oil-boom years in the 1970s and 1980s,
Iraq strategically invested its wealth globally, acquiring an estimated 50 significant assets.
 
These included luxury palaces and real estate in prime European locations like Cannes, France, Spain, the UK, and Italy; agricultural ventures such as tea, rice, rubber, and tobacco farms in Malaysia, Sri Lanka, and Vietnam; and diverse holdings in Africa, from tourist islands and agricultural factories in Mozambique and Nigeria to the aforementioned Somali refinery.

This was a policy of extending economic and diplomatic influence.
 
However, following the 2003 regime change, this global portfolio fell into disarray.
 
Iraq’s Parliamentary Integrity Committee previously revealed to news agencies that
crucial ownership documents were stolen or destroyed.
 
Some properties were illicitly transferred to individuals or shell companies linked to the former regime,  
while others simply vanished from official oversight, becoming a forgotten treasure.
 
Early attempts at recovery highlighted the dangers.
 
In 2012, an Iraqi Foreign Ministry delegation dispatched to Mozambique to inspect a state-owned asset,
believed to be a palace on a tourist island, received direct threats from an armed group controlling the site, forcing their immediate withdrawal.
 
The incident underscored the formidable challenges beyond mere legal claims.
 
The Mogadishu refinery news has now spurred the Iraqi government into decisive action.
 
Specialized legal and technical committees have been formed, and the Ministries of Oil, Foreign Affairs, and Justice are tasked with a coordinated global effort.
 
This includes attempting to re-register properties, settle outstanding tax issues,
and verify any remaining documentation.
 
Legal experts suggest Iraq could pursue claims through the International Court of Justice (ICJ)
or negotiate bilateral agreements with host nations.
 
They also stress the necessity of pursuing individuals and entities involved in the illicit appropriation of these assets, potentially through international arrest warrants via INTERPOL if sufficient evidence is available.
 
For a nation facing ongoing economic challenges and heavily reliant on oil exports, the potential recovery or proper investment of these assets, valued around $100B,represents a monumental financial opportunity.
 
Economists believe even partial success could generate sustainable revenue streams, offering a vital diversification away from almost exclusive dependence on crude oil exports for its budget.
 
However, the path to reclamation is fraught with obstacles.
 
Experts caution that some assets may now be subject to statute of limitations in their host countries,
or may have been legally acquired by other parties during Iraq’s two-decade absence from active management.
 
Furthermore, concerns exist about potential internal political interference derailing recovery efforts,
especially if assets are now linked to influential figures or complex, decades-old contracts that would be difficult to unwind without triggering intricate legal disputes.
 
Despite these challenges, the surprise rediscovery of the Mogadishu refinery has ignited a new sense of urgency and hope.
 
The Iraqi government’s renewed commitment, if pursued with transparency, international cooperation, and persistence, could potentially unlock billions in national wealth that has lain dormant across the globe for far too long, offering a much-needed boost to its economic future.
 
5. Image Alt Text Suggestions:
 
* “Archival photo of the Iraqi-built oil refinery in Mogadishu, Somalia”
* “Map highlighting locations of potential lost Iraqi assets across Europe, Asia, and Africa”
* “Somali President Hassan Sheikh Mohamud”
* “Iraqi Prime Minister Mohammed Shia Al Sudani”
* “Graph or visual representing the estimated $90 billion value of Iraq’s forgotten assets”
* “A dilapidated historic building representing a neglected Iraqi asset abroad”    
  
https://www.iraqinews.com/iraq/iraqi-government-hunts-forgotten-global-assets-saddam-era/

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

Seeds of Wisdom RV and Economic Updates Monday Morning 6-2-25

Good Morning Dinar Recaps,

Stablecoin Market Capitalization Surpasses $250 Billion Amid Accelerating Regulatory Momentum

The stablecoin market has officially crossed the $250 billion milestone, marking a pivotal moment in the evolution of crypto-finance. Analysts attribute this surge to a combination of regulatory clarity and growing adoption of decentralized finance (DeFi) applications.

“Crossing $250 billion marks a turning point,” said Hank Huang, CEO of Kronos Research. “Stablecoins are no longer experimental, they’re essential.”

According to CoinGecko, the total stablecoin market cap currently stands at $250.3 billion, with $245.5 billion of that backed by U.S. dollar-pegged stablecoins. Among these, Tether’s USDT leads with over $153 billion in market cap, followed by Circle’s USDC at $60.9 billion.

What’s Fueling Stablecoin Growth?

Two primary forces are behind this momentum: regulatory progress and the rapid expansion of DeFi.

The GENIUS Act—short for Guiding and Establishing National Innovation for U.S. Stablecoins Act—recently advanced in the U.S. Senate with backing from President Donald Trump. This legislation aims to provide a clear legal framework for dollar-pegged stablecoins, requiring:

• Full reserves backed by U.S. dollars or highly liquid assets

• Annual audits for issuers with more than $50 billion in market cap

• Oversight and inclusion of foreign issuers

Shortly after, Hong Kong passed its own stablecoin bill on May 21, introducing a licensing regime for fiat-backed stablecoin issuers seeking regional access.

This global regulatory clarity has opened the door for traditional finance (TradFi) institutions to join the stablecoin space. A group involving JPMorgan, Bank of America, CitiGroup, and Wells Fargo is reportedly in discussions to launch a joint stablecoin project.

DeFi’s Role in the Rise of Stablecoins

Meanwhile, the DeFi sector has continued its ascent since 2024, thanks to the growing appeal of DEXs, cross-chain trading, staking, and other applications. According to DefiLlama, DeFi currently holds over $113.17 billion in Total Value Locked (TVL).

Just last month, DEXs captured 25% of all global spot trade volume, a record share compared to centralized exchanges. This is a “clear paradigm shift from centralized to decentralized,” said Hashed CEO Simon Kim.

What Lies Ahead for Stablecoins?

Looking forward, Kronos Research CEO Huang believes the stablecoin market could double in size by 2026. The issuer landscape may soon expand beyond USDT and USDC, making room for Trump-aligned USD1 and potential bank-issued tokens.

The path ahead is shaping up to be one of innovation, mainstream integration, and regulatory legitimacy, setting the stage for stablecoins to play a foundational role in the next chapter of the global financial system.

@ Newshounds News™
Source:  The Block

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What Happens If BRICS Currency Succeeds?

The BRICS alliance is preparing to launch a new currency in an effort to shift away from the US dollar-dominated financial system. As emerging economies adopt a more self-first stance—much like Trump’s "America First" policy—they are placing their own currencies and economic priorities ahead of global dependency on Western financial structures.

These nations are growing increasingly skeptical of the recklessness of US foreign policy, and a successful BRICS currency could become the ultimate act of economic self-determination.

Here’s What Will Happen If BRICS Currency Becomes a Success

If a BRICS-backed currency launches and gains global acceptance, the financial world we know today could be relegated to history. While the US dollar would not go down without a fight, a coordinated effort by developing nations to abandon it could leave the White House and the Federal Reserve with few options—either comply with a new economic order or risk global irrelevance.

A multipolar world would likely emerge, led by an alternative financial ecosystem distinct from the IMF, SWIFT, and other Western-controlled institutions. Countries historically sanctioned by the US could find new lifelines in trade, leading to economic revival and political realignment.

Consequences for the US Dollar

Should the BRICS currency succeed, the US dollar would weaken, particularly in the foreign exchange (forex) markets. A weaker USD would likely fuel domestic inflation, as the Federal Reserve struggles to export demand for the dollar abroad. Moreover, the US government’s leverage to impose economic sanctions would diminish dramatically, eroding its global influence over trade and finance.

In essence, the rise of a BRICS currency would signal the decline of dollar hegemony and the beginning of a new era in global economics.

@ Newshounds News™
Source:  Watcher.Guru

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 6-2-2025

TNT:

Tishwash:  Minister of Finance Discusses Support for Development Projects in Iraq with World Bank

Minister of Finance Taif Sami discussed with the World Bank Representative to Iraq on Sunday enhancing cooperation to support development projects.

The ministry said in a statement received by the Iraqi News Agency (INA): "Minister of Finance Taif Sami Mohammed received the World Bank Representative to Iraq and his accompanying delegation to discuss plans to enhance cooperation to support development projects by leveraging the technical and financial support provided by the Bank in implementing strategic projects to stimulate economic growth, especially in the areas of infrastructure and human development."

The statement added, "The two parties discussed developing the private sector and encouraging investment as the primary driver of sustainable economic growth, in addition to the need to support financial reforms to achieve stability and growth."

The statement explained that "the Bank Representative expressed his commitment to continuing to support Iraq in achieving its development goals and enhancing its ability to confront economic and development challenges."  link

Tishwash:  Japanese Ambassador: We seek to support the investment environment in Iraq and attract international companies

Japanese Ambassador to Iraq, Akira Endo, announced on Monday that more than $21 billion has been allocated to support economic cooperation projects in Iraq since 2003, stressing his country's continued efforts to support the investment environment in Iraq and attract international companies.

 In a speech during the signing of an agreement between the Iraq Development Fund and the Japan Cooperation Center, attended by an Iraqi News Agency (INA) correspondent, the Japanese Ambassador to Iraq said: "Since 2003, the Japanese government has implemented economic cooperation projects in Iraq totaling more than $21 billion.

Japan has become the largest donor of aid to Iraq in recent years, primarily through Japanese yen loans for infrastructure development in various fields such as electricity, water, sanitation, and oil." The ambassador emphasized that "Japan has consistently provided assistance alongside the Iraqi people to support their efforts in building the country," adding, "In order to further develop economic relations between Japan and Iraq, we look forward to Iraq's continued efforts to improve the investment environment, including strengthening the implementation of relevant laws and regulations, and continuing to enhance transparency in business practices, particularly with regard to attracting foreign companies, including Japanese companies."

He pointed out that "the JCCME has been working for more than a decade to promote trade and investment between Japan and Iraq through activities aimed at enhancing Japanese companies' understanding of Iraq, such as organizing annual Iraqi business seminars, sending delegations to key sectors in Iraq, and organizing training programs in Japan for Iraqi officials."

He continued, "On the other hand, given the priorities of the Iraq Development Fund, the six areas it identified—education, agriculture, housing, digital transformation, manufacturing and food security, and the environment—represent precisely the areas that the Iraqi government has prioritized under the leadership of Prime Minister Mohammed Shia al-Sudani. These are also areas where Japanese expertise can have a sustainable and meaningful impact on Iraq's future." He noted that "this signing is a pivotal step that comes at a critical time, as it will contribute to strengthening relations between the private sectors in Japan and Iraq by providing and exchanging information, and supporting, promoting, and coordinating the work of companies."  link

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

Tishwash:  The parliamentary investment committee calls for breaking the legislative "stalemate" and passing important "accumulating" laws. 

The Parliamentary Development and Investment Committee called for breaking the legislative deadlock to pass and address dozens of important laws that have accumulated and directly impact citizens' lives. The committee emphasized the importance of fulfilling the government's commitments under the ministerial program and budget-related spending plans.

Hussein Al-Sa'bari, deputy chairman of the parliamentary Development and Investment Committee, said, "More than 140 draft laws, including new ones and amendments to existing laws, are still pending in parliamentary committees and require a vote by parliament." 

He added, "Many of these laws have been discussed by the relevant committees and are ready to be included on the agendas of the plenary sessions," noting that "these projects relate to vital aspects that impact the lives of citizens and various state sectors."

He explained that "the most prominent of these laws is the Popular Mobilization Law, in addition to projects related to higher education, the basis for granting certificates, and other legislation of a service and administrative nature ."

He pointed out that "the upcoming parliamentary sessions are of particular importance as they will determine the fate of a large number of pieces of legislation, eagerly awaited by citizens and state institutions alike." He explained that "delaying the passage of these laws could negatively impact the work of ministries and disrupt the provision of services." 

Al-Sa'bari noted that "there is an increasing number of calls for regular and intensive parliamentary sessions to ensure that the legislative deadlock that accompanied previous periods is overcome and to fulfill the government's commitments under the ministerial program and spending plans linked to the general budget."

He explained that "Parliament's legislative agenda also includes strategic laws such as the Oil and Gas Law, the Civil Service Law, and the Social Security Law, as well as laws related to administrative reform and oversight of government performance."   link

Mot: Just Asking When 

Mot:  . Bet We ALL can Guess Who This ""Dude"" is!! -- Huh!!!