The Worst Financial Gifts To Give To Your Kids

The Worst Financial Gifts To Give To Your Kids

September 16, 2023  The White Coat Investor

Parents with fantastic intentions often hurt their children by giving terrible financial gifts. Here's how to change that.

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As a general rule, parents love their kids and would do anything for them. However, due to a lack of financial literacy, many parents with fantastic intentions end up hurting their children. Here are some of the ways they do that.

#1 A Car

I'm sure there are people who think it is a bad idea to give your kid a car because it will spoil them. That's not what I'm talking about. If you really want to spoil them, knock yourself out (actually we'll get to this under #6).

What I am talking about is giving your kid a car that isn't yet paid for. Yeah, some people do this. Can you believe it? They go down to the dealership, put down a $300 down payment, sign up for some loan payments, and then get the car for their kid. Along with the responsibility to make the payments! Uhhh . . . thanks, Mom. I guess it could be worse. They could have signed you up for a lease.

#2 Whole Life Insurance

Another common situation is a parent who bought their kid a whole life insurance policy at birth. It would stand to reason that if you're buying baby food and life insurance from the same company, one of the two probably isn't a very good product.

Despite that, I keep running into people in their 20s and 30s who have just been given a whole life insurance policy and asked to take over the payments. Their parents have been making monthly payments on these for 2-3 decades, but the surrender value is only a four-figure amount at this point and the child is basically being asked to pay a two- or three-figure amount every month for the rest of their life.

It wasn't a good policy to start with. It doesn't address any financial need they actually have (because the face value is usually something like $20,000). And now they have no idea what to do with it, so they just start making the payments too!

TO READ MORE: https://passiveincomemd.com/the-worst-financial-gifts-to-give-your-kids/

“Tidbits From TNT” Saturday 10-11-2025

TNT:

Tishwash:  (Eye on the South) Economic Conference to be hosted by Basra tomorrow

The organizing committee for the second annual Ta'tafaul Hub conference, under the theme "Eye on the South," announced that the conference will begin at 10:00 a.m. tomorrow, noting that the conference will focus on the economic situation in southern Iraq in various sectors.

The management told Al-Mirbad that the conference will be attended by representatives of the local government in Basra, along with a group of oil companies and representatives from other sectors.  link

Tishwash:  Parliamentary movement to hold a session to decide on a number of important laws within two weeks.

MP Mukhtar al-Moussawi revealed on Friday that there is a broad parliamentary movement aimed at holding a parliamentary session soon to decide on a number of important laws that affect the rights of various segments of society and provide legal cover for the work of ministries and agencies.

Al-Moussawi told Al-Maalouma News Agency, “There is a parliamentary movement currently underway to hold a full quorum session to proceed with voting on a group of important laws that were not passed in previous sessions due to the absence of a large number of representatives.” He indicated that "these laws cannot be postponed until the next parliamentary session due to their direct importance in regulating the affairs of citizens and state institutions."

He added, "Efforts are currently underway to create understandings among parliamentary blocs to ensure members' attendance and voting on these laws," stressing the "need for positive engagement with citizens' rights and the country's interests by enacting laws that represent a national priority."

Al-Moussawi pointed out that "the proposed laws have already been read for the first and second time, and all that remains the voting stage," expecting that "the next few weeks, specifically within the next two weeks, will witness a decisive session if a final consensus is reached between the political forces."  ink

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

Tishwash: Government advisor: Monetary policy has achieved stability in the exchange rate and inflation.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Friday that Iraq has achieved unprecedented stability in inflation and prices, noting that inflation in the country is under control and unemployment is declining.

Saleh told the Iraqi News Agency (INA): "For the first time in Iraq's modern economic era, high growth is being achieved, characterized by stability in the general price level, as the annual inflation rate is stable within what is known as the natural price range or the natural fraction of inflation in the country."

He added, "Iraq has entered its third year with low growth rates in annual inflation indicators, measured monthly over a 12-month period. These rates fluctuate below 3%, reflecting the success of economic policies, particularly monetary policy, in achieving their goals toward a stable economy. Controlling inflation is the primary goal for maintaining price stability and the purchasing power of the Iraqi dinar."

He continued: "This decline in annual inflation was accompanied by a significant decline in annual unemployment rates, which fell from 17% to approximately 14%. Monetary policy also succeeded in maintaining the positive effects of the official exchange rate of 1,320 dinars per dollar and limiting the effects of the parallel exchange market on the stability of the pricing system."

He pointed out that "the government's support policy, through supporting the grain-producing agricultural sector, providing food and medicine baskets, fuel and electricity subsidies, in addition to customs and tax exemptions, which represent an estimated 25% of total public spending in the budget, or 13% of the gross domestic product, is one of the fundamental pillars of the fiscal policy that has confronted inflation and contributed to limiting its growth."

He explained that "trade policy, through price defense, by expanding stores that provide consumer and construction goods at stable cooperative prices, has in turn contributed to supporting price stability and combating inflation, thus enhancing the stability of the Iraqi economy."

Regarding the downsides of this price stability, he noted that "it has encouraged the export of some food and consumer goods, albeit on a limited scale, across borders, allowing other countries to benefit from the stability of basic prices in Iraq."

He concluded by saying, "Iraq is witnessing a significant price boom, which is an indicator of the success of economic policy implementation. This is a remarkable development, unprecedented in the past ten years, as this stability is reflected in the country's cash income."   link

Mot: the Net Gives Us More ""Motisms"" They go great with milk too! 

Mot: On Me Way I Is!!!! 

Weekend Coffee with MarkZ. 10/11/2025

Weekend Coffee with MarkZ. 10/11/2025

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

The first 45 minutes are with the CBD Guru’s – then Mark with weekend news.

Member: Good morning everyone and Happy 3 day weekend to us all.

Member: Hearing anything new Mark?

MZ: I had another historic bond confirmation that are expecting funds next week. I am excited that there are so many who are convinced they are done and this is it.

Member: What happened to the bond person who was supposed to get paid last Wednesday?

MZ: He had a (what he thought) final meeting on Wednesday…but then went back on Thursday and another meeting on Friday. Now they are telling us funds this upcoming week. A couple bond contacts were stuck in that loop…but are now excited for next week because they know things are on the precipice. They have done things that have never been done before with paperwork and on the banking side.The only thing left is picking up the dollars.

 MZ: “ 3 Central Bank strategic projects under implementation”

MZ: “ 120 billion dinar of Kurdistan’s revenues ready to be transferred to Baghdad to pay salaries”

MZ: “ A month before the end of his constitutional life, Parliament faces a race of time to save the outdated laws”

MZ: These are all part of the HCL law. And the race to implement the HCL (Hydro Carbon Law) before this legislative session ends.

MZ: I am excited but cautious.

Member: does their term end this November?

MZ: I think it ends Oct 31st...then the elections are November 11th. There is a break in between the term ending and the elections.

MZ: There is a hard push to get things done in Iraq.

Member: I tonight a possibility?

MZ: I think it is…but wouldn’t bank on it

Member: What does your gut say?

MZ: That I wish it was already done.

Member: Feels like the Turtle & the Hare race ... as slow as this is moving the Turtles have a chance

Membr: I think that this whole thing is like baking a cake....we have all the ingredients, the RV is the frosting, Nesara/Gesara are the frosted flowers......we are almost there.

Member: Thank you mark, mod team, and fellow rvers. I hope everyone has a blessed weekend

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

https://rumble.com/user/theoriginalmarkz

Kick:  https://kick.com/theoriginalmarkz

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.

THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

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

News, Rumors and Opinions Saturday 10-11-2025

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 Sat. 11 Oct. 2025

Compiled Sat. 11 Oct. 2025 12:01 am EST by Judy Byington

Summary:

According to reports compiled by journalist Judy Byington and echoed across independent financial communication channels, the foundation of the world’s fiat-based banking structure has been (allegedly) silently overridden, giving way to the implementation of a new, asset-backed system: the Quantum Financial System (QFS) and the subsequent Global Currency Reset (GCR).

This shift, often referred to as the Restored Republic via a GCR, marks an unambiguous move away from the debt-based control exercised by institutions like the Federal Reserve and the IRS toward a model predicated on sovereign wealth and tangible assets.

Here is a comprehensive look at the critical developments, the technical transition, and what this financial reset means for citizens globally.

The timeline for this transition (allegedly) accelerated rapidly in the past 48 hours. On Friday, October 10, 2025, sources confirm the final sequence for the QFS activation was engaged.

At 6:15 AM EST, the critical authorization code was reportedly(allegedly)  transmitted across the Quantum Grid. The signal, bouncing across five continents in less than three seconds, (allegedly) locked every major global financial node into a “read-only mode.” This technical takeover is not a system crash, but an intentional, silent overhaul.

While civilian systems may see temporary “maintenance notices,” the true process underway is a complete reset of the Global Grid. When the reboot concludes, the old architecture will (allegedly) vanish, and the asset-backed system will emerge.

The activation of the QFS coincides with the official unraveling of the antiquated fiat system, highlighted by alarming figures on the US Debt Clock. With national debt soaring past $37 trillion, the inherent instability of the Federal Reserve’s model—which prints debt, not value—is reaching its climax.

Reports suggest that former President Trump is (allegedly) preparing a significant stimulus—$1,000–$2,000 per taxpayer—issued specifically in these new Treasury Dollars, funded by tariffs. This move is seen by supporters as a powerful counterstrike, potentially marking the first debt-free currency circulation since the era of JFK’s Executive Order 11110.

Furthermore, international developments underscore this shift, with Russian President Vladamir Putin announcing that Central Asian nations are completely abandoning the U.S. dollar in favor of their national currencies, solidifying the BRICS alliance’s move toward de-dollarization.

With the QFS locked in, attention now shifts to the logistical rollout of the Global Currency Reset (GCR), specifically the exchange process for those holding foreign currencies and bonds.

The activated Quantum Financial System is now (allegedly) processing secure transactions for specific groups, including military veterans, verified patriots, and humanitarian programs (Tier 3), confirming the functional capacity of the new gold-asset-backed system.

The financial world is officially at a tipping point. As economists predict the (allegedly) launch of U.S. Treasury Dollars (initially 1:1 with the fading USD), the debt-based economy of the last 112 years is starving of liquidity.

October 2025 is not just a date on the calendar; it (allegedly) marks the decisive historical moment where sovereignty replaces corporate control, and asset-backed value triumphs over empty promises. The transition is live.

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

Global Financial System

Fri. 10 Oct. 2025: Russian President Vladimir Putin announces that Central Asian nations are completely abandoning the U.S. dollar in favor of their national currencies. Putin says this marks a full-scale transition, with Russia emerging as one of the leading investors in the countries moving away. https://x.com/shadowofezra/status/1976327798366110155?s=51

Fri. 10 Oct. 2025: Something Just Broke Inside COMEX. Every Ounce Is Gone – Andy Schectman https://youtu.be/NC79SJP7agE?si=l_Kl8NVqHvPX6vzK

~~~~~~~~~~~

Fri. 10 Oct. 2025: RED ECONOMIC ALERT — THE FED TRAP EXPOSED: TRUMP PREPARES $2,000 TREASURY DOLLAR STIMULUS … on Telegram

The U.S. Debt Clock isn’t a chart anymore. It’s a death siren. $37 trillion in debt. Over $290,000 owed per taxpayer. Every newborn $100,000 in debt before their first breath.

 The system is collapsing under its own fake money. The Federal Reserve’s time is up.

THE FED’S ILLUSION UNRAVELS The Fed doesn’t print money. It prints debt. Every dollar it issues is borrowed — with interest owed to private bankers. The result: a mathematical cage where America pays interest forever, never the principal. It’s slavery disguised as finance.

OLD MONEY VS NEW MONEY Old Money = Federal Reserve Notes — debt-backed, inflation-rigged, enriching the 1%. New Money = U.S. Treasury Dollars — asset-backed, issued by the people’s government. One enslaves through interest. The other liberates through value.

TRUMP’S COUNTERSTRIKE Insiders confirm: President Trump is preparing a direct stimulus of $1,000–$2,000 per taxpayer, not in Fed notes — but in Treasury Dollars. Funded by tariffs on foreign imports, especially China. This could mark the first debt-free currency circulation since JFK’s Executive Order 11110.

Not welfare. A Declaration of Financial Independence. THE NEW MONEY DOCTRINE Trump’s Treasury plan ties money to real production — gold, oil, energy, steel, agriculture. Every new dollar backed by work, not interest. Real currency for real citizens. When money mirrors productivity, nations rise. When it mirrors debt, they fall.

THE FED’S ENDGAME For 112 years, the Fed has ruled through inflation, taxation, and deception. A private syndicate controlling public destiny. But now, the mask slips. The U.S. is no longer borrowing money — it’s borrowing time.

THE RESET BEGINS Economists predict Treasury Dollars will launch 1:1 with the current USD, but unlike the Fed’s fiat paper, they’ll carry intrinsic value — backed by national assets, not empty promises. As circulation grows, Federal Reserve liquidity drains. The empire of debt starves.

THE HISTORICAL PARALLEL In 1963, JFK tried to free America from central bank control. He was silenced. Now, six decades later, Trump revives the same mission — but this time, the people are awake.

THE FINAL FRONT Old Money means control, inflation, and decay. New Money means sovereignty, strength, and rebirth.

October 2025 marks the turning point. The Fed prints debt. The Treasury prints freedom. And this time, the people are cashing in.

Read full post here: https://dinarchronicles.com/2025/10/11/restored-republic-via-a-gcr-update-as-of-october-11-2025/

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

Sandy Ingram  Once unemployment is lowered and the GDP increased, we will be looking for a currency  adjustment, if not sooner.  Iraq is going global.

Mnt Goat  Article:  “AL-SUDANI AFFIRMS IRAQ’S COMMITMENT TO IMPLEMENTING THE GOVERNMENT’S FINANCIAL AND BANKING REFORM PROGRAM”  This article, according to my CBI contact, was given at a news interview where Al-Sudani reinforced his commitment in previous statements to the citizens that the dinar would once again be a “powerful” dinar. He is not talking about going from 1320 to 1166 or anything like that. He is referring to FOREX power.   [Post 1 of 2....stay tuned]

Mnt Goat   Why is Iraq showing the citizens these videos? Why does the primes minister tell the citizens these kind of statements? Why just recently, again more talk of the coming of the accession to the WTO? Why all these banking reforms in the first place then?  Folks, if Iraq wanted to stay on the manipulated rate of 1320 or whatever rate, they wouldn’t be doing all these reforms.   [Post 2 of 2]

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

Lynette Zang: Gold, Silver Price Surge — "This is the End Game for Fiat"

10-10-2025

Lynette Zang of Zang Enterprises shares her thoughts on what the gold and silver price surge says about the world today, emphasizing that people are losing confidence in the monetary system at a global scale.

 "Make no mistake, the monetary system is changed, whether you see it at this moment or you don't," she said.

https://www.youtube.com/watch?v=cgyhMHAtE5Y

Iraq Economic News and Points To Ponder Saturday Morning 10-11-25

Government Advisor: Monetary Policy Has Achieved Stability In The Exchange Rate And Inflation

Money and Business  Economy News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Friday that Iraq has achieved unprecedented stability in inflation and prices, noting that inflation in the country is under control and unemployment is declining.

Saleh said, "For the first time in Iraq's modern economic era, high growth is being achieved, characterized by stability in the general price level, with the annual inflation rate remaining within what is known as the natural price range or the natural fraction of inflation in the country."

He added, "Iraq has entered its third year with low growth rates in annual inflation indicators, measured monthly over a 12-month period. These rates fluctuate below 3%, reflecting the success of economic policies, particularly monetary policy, in achieving their goals toward a stable economy. Controlling inflation is the primary goal for maintaining price stability and the purchasing power of the Iraqi dinar."

He continued: "This decline in annual inflation was accompanied by a significant decline in annual unemployment rates, which fell from 17% to approximately 14%. Monetary policy also succeeded in maintaining the positive effects of the official exchange rate of 1,320 dinars per dollar and limiting the effects of the parallel exchange market on the stability of the pricing system."

He pointed out that "the government's support policy, through supporting the grain-producing agricultural sector, providing food and medicine baskets, fuel and electricity subsidies, in addition to customs and tax exemptions, which represent an estimated 25% of total public spending in the budget, or 13% of the gross domestic product, is one of the fundamental pillars of the fiscal policy that has confronted inflation and contributed to limiting its growth."

He explained that "trade policy, through price defense, by expanding stores that provide consumer and construction goods at stable cooperative prices, has in turn contributed to supporting price stability and combating inflation, thus enhancing the stability of the Iraqi economy."

Regarding the downsides of this price stability, he noted that "it has encouraged the export of some food and consumer goods, albeit on a limited scale, across borders, allowing other countries to benefit from the stability of basic prices in Iraq."

He concluded by saying, "Iraq is witnessing a significant price boom, which is an indicator of the success of economic policy implementation. This is a remarkable development, unprecedented in the past ten years, as this stability is reflected in the country's cash income."     https://economy-news.net/content.php?id=60962

The US Senate Votes Unanimously To Repeal The Iraq War Authorization.

Buratha News Agency1222025-10-10   The U.S. Senate voted unanimously on Thursday to repeal two authorizations that authorized the first Gulf War in 1991 and the 2003 invasion of Iraq. The vote came after the House of Representatives voted last month to repeal the resolution, returning war powers to Congress.

The Senate passed an amendment to repeal the resolution, introduced by Virginia Democratic Senator Tim Kaine and Indiana Republican Senator Todd Young, as part of the annual defense authorization bill that passed the Senate late Thursday.

“This is how war ends, not with a bang but with a thud,” Kaine said after the vote, which took only seconds with no debate or objections.

“Those wars changed America forever, and they changed the Middle East as well,” he added, according to the Associated Press.

This returns war powers to Congress after two decades of delegating those powers to the White House. Supporters of the resolution in both the House and Senate said that revoking the authorization is a crucial step to prevent future misuse and to affirm that Iraq is now a strategic partner of the United States.

The House of Representatives added a similar amendment to its version of the defense bill last September, meaning the revocation is likely to be included in the final version of the law after the two chambers consolidate the versions.

 Both bills also included a revocation of the 1991 authorization that authorized the U.S.-led Gulf War. Will Trump support the resolution? The Associated Press reported that while Congress appears close to passing the revocation resolution, it remains unclear whether President Donald Trump will support it.

 During his first term, his administration invoked the 2002 Iraq War authorization resolution as part of the legal justification for the 2020 drone strike that killed then-Iranian Quds Force commander Qassem Soleimani in Baghdad.

 However, this authorization has been rarely used since then. Senator Young said after the vote that he believed Trump should feel "very proud" of signing the bill, having campaigned on a pledge to end "forever wars." He added that it would make him the first president in modern history to legally end a long-running war.

“The vote sets an important precedent, which is that Congress now very clearly declares that it is our authority and responsibility not only to authorize the use of military force, but also to end armed conflicts,” Young said.

The vote, which was added to the broader defense bill, came amid a sharp partisan dispute over the government shutdown. Young added that the quick vote was “an extraordinary moment” that he hoped “shows some that we are still capable of getting critical things done in Congress.”

Two years ago, the Senate voted 66-30 to repeal the 2002 authorization. Although some Republicans privately told Kaine they still opposed the measure, none opposed Thursday night’s unanimous vote.

The 2001 authorization for the global war on terrorism would remain in place under the new bill. While the 1991 and 2002 authorizations were rarely used and focused specifically on Iraq, the 2001 authorization gave President George W. Bush broad authority to launch an invasion of Afghanistan.

Authorizing the use of force against "nations, organizations, or persons" who planned or supported the September 11, 2001, attacks against the United States. Since its adoption in September 2001, this authorization has been used in recent years to justify US military operations against groups such as al-Qaeda and its affiliates, including ISIS, and the Somali al-Shabaab movement.   http://burathanews.com/arabic/news/466304

Gold Is Heading For Its Eighth Consecutive Weekly Gain

economy | 09:18 - 10/10/2025  Mawazine News - Follow-up  Gold prices rose on Friday, heading for their eighth consecutive weekly gain, benefiting from safe-haven demand amid ongoing geopolitical and economic uncertainty, along with expectations of a Federal Reserve interest rate cut.

Spot gold rose 0.1% to $3,977.87 per ounce by 01:20 GMT. The precious metal is up 2.3% so far this week.
US gold futures for December delivery rose 0.5% to $3,992.40.

According to the CME FedWatch tool, traders currently expect a 25 basis point rate cut in October and another cut in December at 95% and 82%, respectively.

Markets were affected this week by political unrest in Japan and France, along with the ongoing government shutdown in the United States, factors that cast a shadow over investor confidence, which has flocked to gold as a safe haven.

Gold crossed the $4,000 per ounce threshold for the first time on Wednesday, reaching an all-time high of $4,059.05.
Among other precious metals, spot silver rose 1.2% to $49.70 per ounce after hitting an all-time high of $51.22 on Thursday. Platinum rose 0.4% to $1,625.30, and palladium gained 1% to $1,426. https://www.mawazin.net/Details.aspx?jimare=268153

A Slight Increase In Iraqi Oil Prices In Global Markets

Economy | 09:29 - 10/10/2025  Mawazine News - Baghdad -  Iraqi oil prices recorded a slight increase during daily trading on Friday in the global market.

According to data, Basra Medium crude rose to $65.95 per barrel, while Basra Heavy crude recorded $64.40 per barrel, with a change rate of +0.32 for both.

Regarding global oil prices, British Brent crude recorded $65.03 per barrel, while US West Texas Intermediate crude recorded $61.36 per barrel, with a change rate of -0.15 and -0.19, respectively.https://www.mawazin.net/Details.aspx?jimare=268154

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

Seeds of Wisdom RV and Economics Updates Saturday Morning 10-11-25

Good Morning Dinar Recaps,

The Global Reset in Motion: Swap Lines, Debt Shifts & the New Financial Blueprint

Currency swaps, debt reversals, and digital networks are quietly redrawing the architecture of global finance.

A System Under Strain — and Redesign

• Swap lines as soft power: The U.S. Treasury’s new $20 billion currency swap with Argentina shows how economic diplomacy is replacing traditional aid. The dollar is being used not only as a reserve asset but as an instrument of geopolitical alignment.

• Debt flows reversing: For the first time in two decades, developing nations are net repaying China, a signal that Beijing’s Belt & Road era of easy credit has entered a phase of collection and consolidation.

• Rise of alternative rails: BRICS’ new digital-currency settlement network and commodity-based exchanges offer parallel systems for trade and payment outside Western financial chokeholds.

These developments are not random. They reveal a world shifting from unipolar control toward competing, asset-anchored financial architectures.

Friction and Fragmentation

• Sovereignty backlash: Nations dependent on the dollar are experimenting with regional settlement systems to avoid the risk of sanctions or reserve seizures.

• Liquidity divergence: As financial systems decouple, cross-border liquidity and interoperability will become the new frontlines of competition.

• Hidden power shift: Emerging markets able to host trusted digital settlement systems will gain leverage far beyond their GDP share.

Why This Matters

We are witnessing a reset in slow motion — not an overnight collapse, but a re-wiring of capital routes, reserve logic, and political leverage. What used to be economics is now strategy.

This is not just politics — it’s global finance restructuring before our eyes.

@ Newshounds News™ Exclusive

Sources:
• Al Jazeera – U.S. buys Argentinian pesos, finalises $20 billion currency swap (aljazeera.com)
• Reuters – Developing nations rack up $3.9 billion net debt payments to China (reuters.com)
• Watcher Guru – BRICS digital currency network bypasses the West (watcher.guru)

 ~~~~~~~~~

When the South Pays Back: China’s Waning Grip and the Next Debt Order

Once the world’s lender of choice, China now finds its capital flowing back home — and its influence shrinking.

The Numbers Tell the Story

• According to Boston University’s Global Development Policy Center, developing nations are now paying $3.9 billion more per year to China than they receive in new loans.

• From 2008 to 2024, China’s policy banks lent over $472 billion to infrastructure projects across Asia, Africa, and Latin America. Now, many of those loans are maturing — and repayment, not expansion, defines Beijing’s balance sheet.

• The net reversal began in 2022 and 2023, marking a structural pivot in China’s development diplomacy.

From Builder to Collector

• Debt-collector posture: China is tightening repayment schedules and invoking collateral clauses — including escrowed commodity revenues — in nations like Zambia and Sri Lanka.

• Soft-power erosion: With less new money flowing, Beijing’s ability to buy goodwill through development finance is weakening.

• Private-sector dominance: Despite the headlines, private Western lenders still hold the majority of developing-world debt, underscoring that the true debt crisis is global, not just Sino-centric.

Strategic Repercussions

• Funding vacuum: As China retrenches, BRICS and regional blocs may need to mobilize local-currency credit to fill the gap.

• Dollar corridor pressure: Reduced Chinese lending could pull countries back into U.S. financial orbit — unless alternative rails such as the BRICS digital currency network scale quickly.

• Emerging multipolar credit system: Expect South–South and regional lending consortia to multiply, each experimenting with gold- or commodity-backed settlement models.

Why This Matters

China’s shrinking role marks a turning tide in global leverage. The creditor of the Global South is now a collector, and that changes who holds the reins of tomorrow’s monetary system.

This is not just politics — it’s global finance restructuring before our eyes.

@ Newshounds News™ Exclusive

Sources:
• Reuters – Developing nations rack up $3.9 billion net debt payments to China (reuters.com)
• Reuters – China shifts from banker to debt collector (reuters.com)
• Reuters – China’s collateral demands curbing emerging countries’ fiscal control (reuters.com)

~~~~~~~~~
Wall Street’s Gold Grab: 1,300+ Tonnes Before the BRICS Currency Launch

As BRICS prepares to unveil its asset-backed digital currency, U.S. financial giants quietly accumulate historic amounts of gold.

A Massive Gold Rush on the Eve of Monetary Change

• Wall Street accumulates 1,300+ tonnes: In the months leading up to the BRICS currency launch, major U.S. institutions — including hedge funds and sovereign-backed asset managers — have reportedly purchased over 1,300 tonnes of physical gold, a figure equivalent to one-third of annual global mine production.

• Market data confirms the trend: CME futures reports and COMEX vault inflows show surging delivery requests, suggesting institutional investors are converting paper contracts into allocated bullion.

• Strategic timing: Analysts note that the timing coincides with BRICS’ plans to roll out an asset-backed settlement currency, raising speculation that U.S. financial players are positioning for a revaluation of gold’s role in global finance.

Wall Street’s moves suggest that even Western markets are preparing for a post-dollar valuation paradigm — one where tangible reserves, not fiat credit, anchor global confidence.

Gold as the Hedge Against Monetary Fragmentation

• Repricing risk: Central banks and private institutions are betting that gold could be revalued as part of a new settlement mechanism under the BRICS bloc.

• Reserve diversification: The accumulation also reflects U.S. investors’ concerns over geopolitical fragmentation, rising sovereign debt, and the declining share of the dollar in global reserves.

• Historic parallel: The scale mirrors accumulation trends last seen before major monetary realignments — notably the Bretton Woods collapse (1971) and the 1979 gold run amid inflationary shocks.

When capital quietly shifts toward hard assets, it signals anticipation — not fear. Gold is being treated once again as the ultimate ledger of value.

Global Context: BRICS’ Strategic Gold Standard

• BRICS’ next move: Reports indicate the upcoming BRICS settlement platform will allow member states to clear trade in tokenized assets backed by gold and other commodities.

• De-dollarization by design: This would enable trade bypassing Western payment systems, rebalancing global reserve power toward the East.

• Power convergence: As the U.S. financial elite accumulates what BRICS intends to formalize, both sides of the financial divide appear to be converging — not in cooperation, but in anticipation of the same shift.

The lines between East and West may blur if both are now preparing for the same monetary realignment.

Why This Matters

Gold is no longer just a hedge — it’s the new pivot point of credibility in a fragmented world.
If both BRICS and Wall Street are preparing for a return to tangible settlement systems, it marks the most profound redefinition of monetary trust since the end of the gold standard.

This is not just politics — it’s global finance restructuring before our eyes.

@ Newshounds News™ Exclusive

Sources:
• Watcher Guru – Wall Street Buys 1,300+ Tonnes of Gold Before BRICS Currency Launch (watcher.guru)
• World Gold Council – Central Bank Gold Demand Hits Record Highs (2024–2025)
• Reuters – Gold demand and geopolitical risk drive institutional accumulation
• IMF Bulletin – Asset-Backed Settlement Systems and Reserve Diversification

~~~~~~~~~

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Seeds of Wisdom Team™ Website
Thank you Dinar Recaps

FRANK26….10-10-25……WF BANK STORY

KTFA

Friday Night Video

FRANK26….10-10-25……WF BANK STORY

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#

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

DRP to Create 16 Million New Jobs in Iraq

DRP to Create 16 Million New Jobs in Iraq

Edu Matrix: 10-10-2025

Iraq stands on the cusp of a monumental transformation. A recent insightful video from Sandy Ingram of Edu Matrix shed light on one of the most ambitious infrastructure initiatives in the country’s recent history: the Development Road Project (DRP).

More than just a transportation route, the DRP is poised to fundamentally reshape Iraq’s economic landscape over the next three decades, promising a future of unprecedented growth and global integration.

This holistic approach underscores the DRP’s ambition: to create not just a path for goods, but a vibrant ecosystem for commerce, innovation, and urban development.

Crucially, all technical and economic studies for the Development Road Project are now complete, marking a significant transition from planning to the execution phase. The next critical step involves an international ministerial meeting, where Iraq will present its findings and actively seek to attract global partner countries and investment.

Following this formal approval, Iraq plans to launch a worldwide campaign to draw in investors. Interest is already keen, with the European Union and neighboring countries expressing significant enthusiasm for participating in this transformative venture.

The operational launch of the DRP is strategically tied to the completion of the Grand Fault Port, which is set to become a key logistical hub, further enhancing Iraq’s role in regional and international trade.

While official plans regarding adjustments to the Iraqi dinar (IQD) remain speculative, the project’s success is widely anticipated to catalyze significant economic revitalization. The expected reduction in unemployment and robust GDP growth resulting from the DRP’s success strongly suggest that fundamental economic improvements could lead to substantial changes in currency valuation over time.

The Development Road Project is more than just infrastructure; it signifies Iraq’s bold and unequivocal move towards deeper global economic integration and a future defined by long-term prosperity. It’s a testament to the nation’s renewed ambition and its commitment to building a resilient, diversified economy.

For a deeper dive into this transformative initiative and its profound implications, be sure to watch the full video from Edu Matrix. The journey to a new economic era for Iraq has officially begun.

https://youtu.be/EzAKpu8ebjw

Why Is the Key Player in GENIUS Act & Stablecoins Buying Gold? The Tether No One Is Talking About

Why Is the Key Player in GENIUS Act & Stablecoins Buying Gold? The Tether No One Is Talking About

Miles Franklin Media: 10-10-2025

Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, dives into the growing intersection between gold, Treasuries, and digital money.

And what it could mean for America’s massive debt.

As Washington tries to tie stablecoins to the U.S. Treasuries through the new GENIUS Act, a major shift is unfolding. Key players in the digital asset space are expanding into physical gold, blurring the line between old and new forms of money.

Could this convergence of digital dollars and real gold signal a quiet restructuring of how the U.S. manages its debt? Michelle breaks down the connections between stablecoins, Treasuries, and gold – and what they reveal about the potential for a U.S. debt reset.

 Key Takeaways

Tether’s massive gold bet and why it matters

How stablecoins are being tied to U.S. Treasuries under the GENIUS Act

Why “digital dollars backed by real gold” could reshape monetary policy

The growing gold positions of major players in the digital asset market

How this structure echoes past U.S. debt resets in 1933 and 1971

Why “Bitcoin, Gold & Land” may be the ultimate hedges against darker times

00:00 Introduction: Tether's Gold Ambitions

01:49 Tether's Gold & Bitcoin Holdings

02:23 The Genius Act & Stablecoins

03:15 Regulations & Oversight

 06:04 Global Reactions & Accusations

 07:31 Historical Context & Gold Revaluation

10:16 Conclusion: The Real Story

https://www.youtube.com/watch?v=-3gX09Ij7_I

Bruce’s Big Call Dinar Intel Thursday Night 10-9-25

Bruce’s Big Call Dinar Intel Thursday Night  10-9-25 

Transcribed By WiserNow Emailed To Recaps  (INTEL ONLY)

Welcome everybody to the big call tonight. It is Thursday, October 9th  and you're listening to the big call. Had to check my internal calendar. And thanks for listening. Everybody again, all over the globe. Thanks to the Starlink satellite systems, our SAT  team that gets the call all over the place. And thank you, everybody for tuning in. And we know you as the big call universe, as we know, the call is getting out there.

Thank you, Bob, that was a great discussion. And let's get into some intel for a little while because I don't have too much, I don't think, but you know how I can talk. So let's get right to it.

So obviously, there is something to be said about this peace plan with Hamas and Israel. Finally, you know, its happening and they release the hostages Monday, hopefully all Monday, but could be intoTuesday  -- to see is significant for us. We need to have thathappen.

My understanding is we're also going to have the peace process between Russia and the Ukraine over the weekend that may follow, but we think it may be going over the weekend. We'll get some good news about that.

It could also be a Monday, Tuesday event - Getting this peace process underway is really kind of where we need to be   

Now -- What about the timing for us to get our notifications??  All week I have heard it would be over the weekend, and then today, we heard it would be more like anytime from the weekend through Tuesday.

Well, guess what? We have another three day weekend this weekend, with Monday being Columbus Day, and the banks are closed the Federal holiday.

So what's going to happen on Monday? Well, in talking with our redemption center leaders, they are on call on Monday. That means they will not go in unless they're called to come in on Monday, and I think that is going to be dependent on whether or not that we get the numbers prior to Monday,  because think about it, if redemption center people, staff are on call, they're not going in on Monday, --  unless something changes,

They're taken off call and put on duty, right Well, right now they're on call. Now as far as, as far as Tuesday is concerned, I think it looks good for us to at least get notified by Tuesday, and I don't know that we won't start exchanges as early as Tuesday.

So exchanges, I think, would be starting Tyuesday or Wednesday -- if all they do is take appointments on Tuesday -  remember, you need not only redemption centers be open for the appointment setting process, but you need the call centers to be open. And the call centers where we use our 800 number to get into --  where they  processes and send the redemption center that's closest to our zip code that we give them.

So it's call centers and redemption centers finishing the process, because we get linked directly. And I mean, we get connected to the redemption center by the phone call, either direct connection  or another number to call to get to get to that redemption center to finish our appointment. I think most of the connectivity will be a direct connection.

So we get that happening where you're talking to an individual, a person, a live human who is going to be helping us with the exchange, very likely that the person you talk to when you're setting your appointment, and you get connected over to the redemption center, but that person will be working with you in some way at the redemption center, so you want to make that connection   and look forward to that. That's cool. All right, so that's the timing of what we're doing. What about in the meantime?

What about, like Bob said, in the meantime. In the meantime, we heard that the restitution and reclamation allowance or four different Rs, and I've intermingled them all. I'm just calling it R & R -  This is the money we're getting back from taxes we paid in birth certificate that was traded on us, death certificate if it applies  on a spouse, marriage license and divorce decree, those four things were traded as instruments like bonds on us and we're going to be paid for the money that was earned on the trades you get that you get, the taxes, you get, the credit card interest, the mortgage interest, bank loan interest, car loan interest, all of that stuff adds up over a lifetime, and you're going to get that back in the form of R and R.

Now remember, we talked about the R, and R was going to be at the redemption center for us in our quantum accounts. Well, guess what? Just when we get used to that, they might change that they are going to add the what's happening here, the the  -  hey, we've got money coming from the tariffs that's separate, and we've got the R and R money and the DOGE money. Where do we get the DOGE money?

Remember when Elon Musk and his team going after waste, fraud and abuse in our government, and he was finding all that, and he was actually paying trillions here and billions there and all that.

Well, that DOGE money that we're expecting is going to be added to the R and R money. So the DOGE plus the R and R is a new lump sum that will be a little bit higher it was. It's just R and R.

Now we're going to be getting that in two possible ways, either a direct deposit, which I believe is what they're going to do for not only for everybody that has a bank account, they'll get it directly in their account.

So those people on social security that are getting it from the age of 62 on up, depending on when you got in 62 your social security people should get it in your Social Security bank account. And I'm hoping that's how it comes to me, and they don't get it in my quantum account, because we're gonna have plenty money in the quantum account from the currency exchanges and the redemption of zim, right? And that's in that would be in the well Fargo account.

I want this for me, speaking about me, I want this to come into my other bank account where I get my Social Security. Okay, so I don't know, all right, so that is a new thing that we got today about the combination of those two things.

Now there's one other income stream for us that is going to be the tariff dividends.

What about tariff dividends?

The tariff dividends are coming out at the amount and President Trump mentioned this on press conference. I thought it was yesterday. Could have been the day before.

Going to be $2,000 per person age 30 and over. That is a qualified American citizen.

I don't know how that's going to affect bona fide green card holders. I don't know. I can't speak to that, but if you're a bona fide American citizen, you will get $2,000 what's the timing on this? And what's the timing on the DOGE and the RR?

It's the same timing starting the night of October 15, which is Wednesday this coming Wednesday  - Thursday or Friday. Wednesday night, 15/16, or 17. We might stretch it to the 18th, which is Saturday, but I'm hearing that 15, 16/17, is when those payments are to be applied to us, $2,000 it's not supposed to be a one time thing. I believe it could go six months. It could go every other month for the period, for a period of a year. So it would skip a month and so on.

 I don't know how long the tariff  aspect is going to last - A lot of people will be getting money right after we start our exchanges.  Because I believe we get notified Monday night, Tuesday. Maybe it looks more to me, I could be anywhere from Saturday to Tuesday, but you know, if it is Tuesday, we could get started on exchange Tuesday or Wednesday -  and the money coming out to everybody else, it's not involved in the  currency could start Wednesday night, the 15th, we see almost concurrent  - almost it could be a half a day to a day away  us being going for our exchanges and the people receiving the money in their bank accounts. So that, quote, unquote, everybody is getting paid at about the same time.

It doesn't seem so strange. That all of a sudden, these, these millionaire, billionaire -  trillionaires  and everybody else is poor. Everybody else is going to be getting money too, if they're 30 and older, 30 and older. So the R and R is going to be combined with DOGE from our treasury sources, and the we call the tariff dividends are going to be $2,000 a person, and it could be every month for six months, we'll see how they do it. I don't know exactly.

They're not even sure how they're going to do it. As of today, at least we didn't have it definitive. And of course, being Thursday, I'll get more information tomorrow,  Saturday and Sunday and we're gonna be watching for these. We're gonna be watching for our bank accounts and our emails with the 800 number.

Of course, once we get the 800 number, I'll put it out on the website with Bob's help, and we'll also send out email emails to everybody, so they'll have it in case Wells doesn’t have your email, and we do, for example, if we do great, they may or may not have your latest email that's accurate.

So we are looking for those to happen, and it's going to be so strange, because all of this is happening, and we expect Social Security increases in the month of October, still, even if you've already got Social Security, yesterday on the eighth was Wednesday, the first of the month was Wednesday.

I don't think increase in those two two days, but the 15th is the next and the 22nd is the last. But they have, there is more time to do an additional payment to Social Security recipients that reflect the increased amount.

Okay, so that's another thing that's out there. Another thing that should happen this month.

They're saying absolutely that it will. So I'm gonna go with them and say, Okay, let's get it. Let's receive it.

So I like the fact that DOGE and R and R being combined, and that, I hope it comes as direct deposit in our current bank accounts. And look, if you have a bank account aside your social security number, you will get it that way.   Okay, so we'll see how they actually come up with that and do that

That's the best way to keep it in there and keep it as safe as we can keep it. They may take it to us that are exchanging. They may put us put it in our quantum accounts. That's all right. If it's in there, exchange, we activate our quantum account, can we see that it's there? Fine, okay, I just think I'd rather have it in the Social Security account –  you guys may have a different opinion -  I'm trying to diversify by doing it that way, between my other bank and and with Wells.

But anyway, that's where I really wanted to say to you guys tonight, I can't think of anything else that is prescient or important for us, other than what we said, always keep President Trump and his family

And our not only him, but don't forget our cabinets, the cabinet members, very important. Pam Bondi, our Attorney General. I mean, all of these people are getting things done. It's amazing what they're getting on to you guys.

And this is just the beginning. We're going to go farther and further with this, with this program. So I'm excited, as you could tell, tonight, very excited. We got good information, and we will plan to have a call Tuesday. I don't know where we'll be in the process.

 By then, we might already be. exchanging on Tuesday, but we have a big call and let everybody know what's going on.

All right, so let's pray the call out first. Thank you Sue, great teaching tonight. Good time. Thank you, Bob, really good message and good stuff from course. And then thank  GCK, Pastor Scott Larry and thank you for call out all over the globe.   Thank you big call universe for listening for the last 14 years. Thank you very much.

Everybody. Take care. Let's pray the call out, All right, everybody. Good night. God. Bless you. We will see you. Have a great weekend and keep an eye on your emails.

Bruce’s Big Call Dinar Intel Thursday Night 10-9-25 REPLAY LINK   Intel Begins   1:25:05

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Bruce’s Big Call Dinar Intel Tuesday Night 10-7-25 REPLAY LINK   Intel Begins   1:16:50

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Bruce’s Big Call Dinar Intel Thursday Night 10-2-25 REPLAY LINK   Intel Begins   1:08:45

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Bruce’s Big Call Dinar Intel Tuesday Night 9-30-25 REPLAY LINK   Intel Begins   1:11:44

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Bruce’s Big Call Dinar Intel Thursday Night 9-25-25 REPLAY LINK   Intel Begins   1:22:12

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Bruce’s Big Call Dinar Intel Tuesday Night 9-23-25 REPLAY LINK   Intel Begins   1:30:50

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Bruce’s Big Call Dinar Intel Thursday Night 9-18-25 REPLAY LINK   Intel Begins   1:00:15

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Bruce’s Big Call Dinar Intel Tuesday Night 9-16-25 REPLAY LINK   Intel Begins   1:11:44

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  Bruce’s Big Call Dinar Intel Thursday Night 9-11-25 REPLAY LINK   Intel Begins   1:14:50

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Bruce’s Big Call Dinar Intel Tuesday Night 9-9-25 REPLAY LINK   Intel Begins   1:14:00

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Bruce’s Big Call Dinar Intel Thursday Night 9-4-25 REPLAY LINK   Intel Begins   1:16:30

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Bruce’s Big Call Dinar Intel Tuesday Night 9-2-25 REPLAY LINK   Intel Begins   1:10:10

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Iraq Economic News and Points To Ponder Friday Afternoon 10-10-25

Oliver Wyman Reviews Criteria For Iraq’s Digital Banks
   
Iraq     Amr Salem     October 9, 2025     650      Baghdad (IraqiNews.com) – The Governor of the Central Bank of Iraq (CBI), Ali al-Alaq,  revealed on Thursday that   Oliver Wyman is reviewing the criteria set by the CBI  to issue licenses for digital banks in the country.
 
In a statement to the Iraqi News Agency (INA),  al-Alaq indicated that the leading international management consulting firm  will provide the CBI with a final report within the next few days.

An aerial view of the new headquarters of the Central Bank of Iraq (CBI). Photo: Zaha Hadid Architects

The CBI has received approximately  80 applications to create digital banks in the country, according to al-Alaq.
 
Licenses can only be awarded following a set of criteria based on  market research, the  nature of the business, and  other countries’ experiences,  where the number of digital banks is often limited to three or four.
 
Officials from the CBI and representatives from Oliver Wyman  discussed in August a banking reform proposal  offered by the Iraqi Private Banks League (IPBL)  to modernize Iraq’s banking industry and  align operations with worldwide practices.
 
The strategy intends to  stabilize the banking sector  so that it can function securely and effectively  in accordance with international norms and standards,  as well as local legislation,  while also strengthening governance, compliance, and risk management.
 
The strategy also allows banks to perform an economic role that promotes growth  while providing the most effective services possible. The CBI noted that adopting the  strategy will boost local and international trust in Iraq’s banking industry.

Iraq’s Central Bank revealed last month that  it reached an agreement with Oliver Wyman to perform a thorough analysis of the conditions under which Iraqi banks are prohibited from conducting transactions in US dollars.
 
The two sides discussed the  usage of electronic payment cards andstrategies to encourage and manage their usein keeping with Iraq’s shift toward electronic payments.
 
The CBI stated that Oliver Wyman will focus on  improving bank procedures to align with international standards.
 
Additionally, they will create effective strategies  for reintegrating Iraqi banks that have been barred from conducting US dollar transactions  back into the banking sector,both domestically and internationally.    
  
https://www.iraqinews.com/iraq/oliver-wyman-reviews-criteria-for-iraqs-digital-banks/

The Central Bank Discusses With The German Commerzbank Ways To Enhance Banking Cooperation.
 
October 09, 2025   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,received in Baghdad Mr. Michael German,Representative of the    Institutional Clients and International Transaction Banking Sectorat Commerzbank AG,  to   discuss ways to enhance cooperation between the two sides.

The meeting  discussed prospects for developing banking relations  with Iraqi banks operating in the local market, which would contribute to supporting economic activity and   strengthening financial ties   between Iraq and  Germany.

The importance of   exchanging technical expertise and  developing cooperation mechanisms   in the areas of  trade finance, international payments management, and banking correspondence was emphasized, thus  enhancing the  efficiency of the Iraqi financial system and its   connection to the European banking sector.
 
The two parties expressed their commitment to   continuing     coordination and    joint consultation   to  support Iraq's global financial standing and   develop its foreign banking relations   in accordance with the highest approved standards. 
    Central Bank of Iraq     Media Office      October 9, 2025    https://cbi.iq/news/view/3008    

Combating Financial Fraud Enhances Confidence In The Banking Sector

Due to the successes achieved by the government and the Central Bank during the years (2023-2025) in expanding the field of digital transformation, activating electronic payment, and spreading the culture of using electronic cards among citizens.

The Central Bank and banks have begun receiving complaints of electronic financial fraud involving the exploitation of the accounts of retirees and various segments of society, particularly this year. Several cases of electronic financial fraud have been identified, including the withdrawal of deposits and salaries from employees' and bank customers' accounts using various fraudulent methods, which constitute financial crimes punishable by the Iraqi judiciary.

In addition to the entry and exit of funds through unofficial border crossings, which are exploited for currency counterfeiting and money laundering, the Central Bank has announced the creation of a complaints platform and is urging banks to launch a broad media and advertising campaign to warn citizens of the dangers of engaging in these illegal activities and their potential to harm the national economy.

Government agencies, the judiciary, and oversight bodies in Iraq have amended their applicable laws, issued new instructions and proactive controls, and developed procedural and electronic means to combat these crimes and protect their funds and the national economy.

Iraq, like other countries, has activated its economic and legislative apparatus and institutions to combat these crimes. It issued Anti-Money Laundering Law No. 39 of 2015, which included 12 chapters and articles that defined the crimes covered by the law and the penalties for each financial crime. It also adheres to international standards that limit money laundering issued by the FATF, in addition to the crimes of counterfeiting, forgery and fraud stipulated in the Iraqi Penal Code and the instructions issued by the financial and monetary authorities, represented by the Central Bank of Iraq and the Ministry of Finance, to combat these crimes with the aim of preserving Iraq’s funds, especially its foreign currency, due to the impact of these crimes on the national economy and the creation of stifling economic and financial crises, which reflects on sustainable development.

The serious matter that contributes to the spread of this phenomenon is the weak compliance of financial and banking institutions with international compliance rules and standards, which means they are exposed to financial risks of all kinds, the most important of which are reputational risks, which directly affect Iraq’s international economic, financial and banking transactions, which affect Iraq’s external economic relations with countries around the world, especially the financial and banking transactions of Arab and foreign correspondent banks.

However, laws alone and internal judicial procedures cannot combat these financial crimes, which requires the development of local and international proactive electronic oversight methods by adopting mechanisms and policies regulated by international agreements for cooperation in reducing financial crimes related to money laundering, terrorist financing and electronic financial crimes related to electronic payment operations. https://economy-news.net/content.php?id=60929

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