The Seven Deadly Sins Of Personal Finance

The Seven Deadly Sins Of Personal Finance
By J.D. Roth —03 June 2019
 
I've been reading and writing about personal finance for more than thirteen years. In that time, I've consumed a lot of books about money. Lately, I've found that it's fun to revisit old favorites.
 
Recently, for instance, I've been re-reading Brett Wilder's The Quiet Millionaire [my review]. It's different than most personal finance books. It's targeted at those who are farther along their financial journeys rather than at those just starting out. Still, there are bits and pieces in The Quiet Millionaire that are applicable to everyone.

Ten years ago, I wrote that I particularly like Wilder's list of the seven enemies to financial success (which is my phrase, not his). I still like them. He writes:
 
If you want to become and stay the quiet millionaire, you must plan and manage your financial way of life…You must be proactive in order to obtain the financial life you want. By doing this, you will overcome the seven major obstacles to financial success.
 
Wilder is saying that we know there are certain common barriers to wealth. These obstacles arise for everyone. Because of this, it's possible to plan in advance to cope with them. First, however, we have to be able to name these enemies so that we can prepare the proper weapons to fight them.
 
The Seven Enemies of Financial Success
According to Wilder, the seven enemies of financial success are:
 
Lack of discipline. Without discipline, it's difficult to build wealth. In fact, it's impossible to get rich — slowly or otherwise — if you spend more than you earn. The math just doesn't work. Wilder also warns against compulsive spending, and he urges readers to track where their money is going.
 
Materialism. Stuff will not enrich your life. It's so very easy to find yourself “keeping up with the Joneses”, succumbing to lifestyle inflation. But materialism breeds discontent. Instead, Wilder says, focus on intellectual and spiritual pursuits to obtain fulfillment.’
 
Debt. Not all debt is bad, of course. A reasonable mortgage on a sensible home is fine. But consumer debt — or a bad mortgage on a big house — is an enemy to financial success. In fact, bad debt may be the biggest enemy to financial success.
 
Taxes. It's our responsibility to pay the taxes we owe, but we're under no obligation to pay more than that. “It is not unpatriotic to reduce paying your taxes,” Wilder writes. We should instead actively work to keep our tax burden as low as possible.
 
Inflation. Inflation is wealth's silent enemy. It will not destroy you all at once. But it's always there, nibbling at the corners of your life, consuming a little cash every year. It's impossible to keep inflation completely at bay, but you can learn to mitigate its effects.
 
Investment mistakes. Poorly structured investment portfolios can be a killer. This enemy is fought through education, through an understanding of diversification and asset allocation, by taking the emotion out of investing.
 
Emergencies. The final enemy to financial success is the unexpected: unemployment, death, illness, and legal complications. Without a plan for emergencies, you leave yourself at the mercy of the fickle fates. Carry adequate insurance and maintain an emergency fund!

I've fought all of these enemies at one time or another. I still fight some from time to time. I feel like I have a good handle on investment mistakes and saving for emergencies, but my tax bill this year was onerous due to my own poor planning. And, of course, I've always struggled with discipline.
 
The Seven Deadly Sins and the Last Four Things
The Seven Deadly Sins (and the Last Four Things) by Hieronymus Bosch
 
The Seven Deadly Sins of Personal Finance
 
Wilder's seven enemies to financial success always reminds me of Catholicism's traditional list of seven deadly sins. This catalog of transgressions has a long, complicated (and intersting) history. Today, the seven deadly sins are considered to be:
 
Vanity (or Pride). An inflated belief in your own abilities.
 
Envy. The desire to have what others have.
 
Gluttony. Consuming more than you need, especially with regards to food and drink.
 
Lust. A passion or longing for bodily pleasure.
 
Wrath (or Anger). The tendency toward indignation and the desire for vengeance. Hatred toward others.
 
Greed. The desire for material wealth or gain.
 
Sloth. The avoidance of work. Laziness. A failure to act or make use of your talents. 

What would happen if we combined Wilder's idea — seven enemies to financial success — with this list of seven deadly sins? If we were to make a list of seven deadly financial sins, what would those be? Off the top of my head, these seem like good candidates:
 
Sloth. The avoidance of work. Laziness. A failure to act or make use of your talents. Procrastination. Expecting others to solve your problems.
 
Envy. The desire to have what others have. Comparing yourself to others. Keeping up with the Joneses.
 
Gluttony. Consuming more than you need. Succumbing to lifestyle inflation, the endless desire to have more. Never being satisfied with what you already have. The inability to defer gratification. Impatience.
 
Aimlessness. A failure to plan for the future. A lack of purpose or direction. Failing to track your progress is also a form of aimlessness.
 
Improvidence. A lack of prudence or care in managing your resources. Spending mindlessly. Wasting what you already have. Not taking care of your possessions. Replacing the things you own before they need to be replaced.
 
Myopia. Making decisions without considering greater implications. Focusing on small, easy steps that make no real difference (clipping coupons, maybe) while ignoring the big things that destroy your financial future (paying too much for housing, for instance).
 
Ignorance. A lack of financial education. Putting blind faith in outside advisors — or the news. Failing to do your own research.
 
Although this list is spontaneous, I like it. These really do feel like seven barriers that prevent people from succeeding with money. But I'm sure it's possible to come up with other (possibly more grievous) sins.
 
What do you think? If you were to list the seven deadly sins of personal finance, what would you include? And why?
 
https://www.getrichslowly.org/

Iraq Economic News and Points To Ponder Tuesday Evening 9-15-26

Oil Rises On Saudi Supply Disruption Concerns

2026-09-15 01:32    Shafaq News   Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom's East-West pipeline offline and cast doubt on ​efforts to ease shipping risks in the Gulf.

Brent crude futures rose $1.37, or 1.3%, to $107.05 ‌a barrel at 0406 GMT, while U.S. West Texas Intermediate futures were up $1.53, or 1.51%, at $102.92 a barrel. Both benchmarks rose more than 1% in the previous session.

Iran-backed Houthi forces in Yemen launched fresh attacks on Saudi Arabia on Monday, while ​Gulf Arab states postponed planned discussions with Iran, fuelling concerns that the Middle East conflict ​could widen and disrupt global oil supplies.

The Houthis carried out a missile and drone ⁠attack on the Khamis Mushait military airbase in southern Saudi Arabia, hitting aircraft hangars, radar systems, ​runways and ammunition depots in retaliation for Saudi strikes in Yemen.

This followed attacks on Friday on Saudi Arabia, ​which Riyadh blamed on Iranian-backed fighters in Iraq, that disrupted the country's East-West pipeline, which allows oil exports to bypass the blockaded Strait of Hormuz.

"Oil traders are treating every fresh attack or infrastructure hit as incremental supply risk, while ​staying highly sensitive to any sign that the East-West pipeline or Hormuz flows could normalise," said Tim ​Waterer, chief market analyst at KCM Trade.

Commodity vessel traffic through the Strait of Hormuz dropped to fewer than 10 transits ‌a ⁠day over the weekend, from a 10-day average of 14, raising concerns over a route that typically carried about one-fifth of global oil supplies before the U.S.-Israeli war on Iran began on February 28.

Saudi Arabia could begin to exhaust oil available for export within days unless it restores operations on the East-West pipeline, ​potentially removing as much as ​4% of global oil ⁠supply from the market, according to Saudi buyers and traders.

The world's biggest exporter has used the pipeline to reroute around 4 million barrels per day — around ​4% of global supply — to the port of Yanbu on the Red ​Sea.

"Plenty of uncertainty ⁠remains over the extent of damage and the duration of the outage for the East-West pipeline in Saudi Arabia. Prices are likely to remain well supported until we get clarity," ING analysts said in a note.

Separately, ⁠President ​Volodymyr Zelenskiy said on Monday that Kyiv was ready to support ​a U.S. proposal for a Russia-Ukraine ceasefire on energy sites only if Washington could ensure Moscow was genuinely ready to end ​its war on Ukraine.   (REUTERS)

https://www.shafaq.com/en/Economy/Oil-rises-on-Saudi-supply-disruption-concerns

Basrah Crudes Slip Despite Benchmark Gains

2026-09-15 02:31 Shafaq News- Basrah   Iraq’s Basrah crude declined more than 0.5% on Tuesday, amid gains in benchmark crude futures.

Basrah Heavy crude fell by 53 cents, or 0.55%, to $95.58 per barrel, while Basrah Medium crude slipped by 53 cents, or 0.53%, to settle at $98.88 per barrel.

Brent crude futures rose by $1.37, or 1.3%, to $107.05 per barrel, while US West Texas Intermediate futures gained $1.53, or 1.51%, to $102.92 per barrel

https://www.shafaq.com/en/Economy/Basrah-crudes-slip-despite-benchmark-gains

Gold Holds Steady Ahead Of Fed Decision

 2026-09-15 03:15   Shafaq News   Gold held steady ​on Tuesday after touching a more than one-month low in the previous ‌session, as investors geared up for the U.S. Federal Reserve's policy decision for clues on the future path of monetary policy.

Spot gold was little changed at $4,302.13 per ounce, as of 0510 GMT, after ​hitting its lowest point since August 7 on Monday.

U.S. gold futures were ​down 0.2% at $4,341.70.

The U.S. central bank will announce its policy decision at 1800 ⁠GMT on Wednesday following the end of a two-day meeting. Financial markets are betting ​heavily that Fed policymakers will lift their benchmark rate a quarter of a percentage ​point to a 3.75%-4.00% range.

"How Fed Chair Kevin Warsh frames that hike will matter more than the hike itself for gold... If he casts it as the start of a meeting-by-meeting tightening cycle, that ​would be a hit to gold and to risk assets overall," IG market analyst ​Tony Sycamore said.

"If instead he signals a preference for a more measured pace, that would prove ‌somewhat supportive ⁠for risk sentiment and for gold."

Though seen as a hedge against inflation and geopolitical risks, gold often loses appeal when rates increase as they raise the opportunity cost of holding non-yielding bullion.

Data on Friday showed U.S. consumer prices accelerated in August, while a key ​measure of underlying inflation ​posted its largest ⁠increase in four months.

On the geopolitical front, Yemen's Iran-aligned Houthis launched a fresh wave of attacks on Saudi Arabia and were digging into ​positions on the western coast of Yemen along the Red Sea. ​Oil prices ⁠rose on concerns over supply disruptions.

Meanwhile, U.S. 10-year Treasury yields hit 5% on Monday for the first time since October 2023. The milestone is a threshold that analysts say could ripple ⁠through ​the U.S. economy and threaten the bull market in ​stocks by denting the relative appeal of U.S. equities.

Spot silver steadied at $63.25, platinum gained 0.7% at $1,770.81 and palladium ​fell 0.4% to $1,288.25.   (REUTERS)

https://www.shafaq.com/en/Economy/Gold-holds-steady-ahead-of-Fed-decision

French Exports To Iraq Hit $184M In H1 2026

2026-09-15 Shafaq News- Baghdad/ Paris   French exports to Iraq reached about $184 million in the first half of 2026, data from the International Trade Centre (ITC) showed on Tuesday.

Pharmaceutical and medical products led French exports to Iraq during the six-month period at $27.3 million, followed by cereal-, flour-, starch- and milk-based food preparations at about $22 million. Cosmetics and skincare products totaled $10.4 million.

Electrical control and distribution equipment accounted for about $14.2 million, while perfumes and aromatic mixtures reached $6.8 million. Spirits and other alcoholic beverages totaled $5.6 million, and milk and cream $5.1 million.

Other exports included medical imaging and related equipment worth about $3.6 million, tractors at $3.3 million, and gas, liquid and electricity meters at $2.2 million.

France also exported electric batteries, cheese, yogurt, smartphones and other products to Iraq.

Exports totaled $78 million in the first quarter before rising to $106 million in the second, an increase of $28 million, or about 35.9%.

https://www.shafaq.com/en/Economy/French-exports-to-Iraq-hit-184M-in-H1-2026  

Amman Industrial Exports To Iraq Reach $1B

2026-09-15 11:19    Shafaq News- Amman  Exports from the Amman Chamber of Industry to Iraq rose 26.2% in the first eight months of 2026 to about 769 million Jordanian dinars (≈ $1B), up from 609 million dinars (≈ $858.9M) during the same period last year.

Data from the chamber showed that Iraq ranked as the second-largest export market during the same period, behind India at 779 million dinars (≈ $1B). The United States ranked third with 625 million dinars (≈ $881.5M), followed by Saudi Arabia with 577 million dinars (≈ $813.8M).

Overall exports reached 5.263 billion dinars (about $7.42B) in the first eight months of this year, compared with 4.822 billion dinars (about $6.8B) during the same period in 2025, an increase of 9.2%.

https://www.shafaq.com/en/Economy/Amman-industrial-exports-to-Iraq-reach-1B

This Week Could Be HUGE For Dinar & Crypto

This Week Could Be HUGE For Dinar & Crypto

The Dinar Den: 9-14-2026

We are currently witnessing an extraordinary alignment of economic milestones, particularly within a pivotal forty-eight-hour window.

This crucial period brings together the upcoming vote on the Clarity Act in the United States Senate, the drafting of Iraq’s 2027 federal budget, and the Federal Reserve’s highly anticipated decisions regarding interest rates.

 These events are not happening in isolation; rather, they represent a convergence of domestic policy, international legislative updates, and global monetary strategy that could collectively influence the future value and utility of the dinar.

A primary pillar of this potential transformation is Iraq’s aggressive push to modernize its entire financial infrastructure. To establish a credible, world-class currency, the Iraqi government is overhaulling its banking system, implementing robust electronic payment systems, and strictly enforcing international Anti-Money Laundering compliance standards.

Additionally, the ongoing development of a digital dinar showcases Iraq’s ambition to align with modern financial technologies. While these structural reforms do not provide an absolute guarantee of currency appreciation, they build the essential foundation required for any sovereign currency to achieve global trust and stability.

The legislative environment in the United States is also playing an unexpected role in this broader financial narrative, highlighted by the discussions surrounding the Clarity Act.

This legislation aims to establish transparent regulatory guidelines for the digital asset economy within the United States, fostering a more secure environment for institutional participation.

Although the Clarity Act was not specifically drafted to address the Iraqi dinar, the creation of a standardized digital asset framework could eventually intersect with Iraq’s own digital currency initiatives. This alignment suggests the beginning of a highly integrated global financial ecosystem where traditional currencies and digital assets share unified regulatory pathways.

To understand the internal mechanics of Iraq’s economy, Stephen highlights key insights from David of Reset Intelligence, who deeply analyzes the country’s unique fiscal challenges. Iraq currently navigates heavy budgetary demands, fluctuating foreign exchange reserves, and a persistent premium on the parallel currency market.

However, strategic international partnerships, such as recent major contracts signed with global energy giants like Chevron, signal strong international confidence in Iraq’s resource wealth. Furthermore, the transition of the Iraqi federal budget toward a results-based, transparent allocation system indicates a serious commitment to domestic financial reform and national sovereignty.

Ultimately, history shows that significant currency adjustments require a comprehensive alignment of fiscal policies, updated banking regulations, and advanced digital infrastructure. The ongoing updates in Iraq, combined with major geopolitical shifts like the planned transition of the United States military presence in the region, suggest that the country is actively preparing for its next economic chapter.

While predicting a precise timeline for currency adjustments remains impossible, the alignment of these global factors offers a compelling case for optimism and study.

https://www.youtube.com/watch?v=7q26NvJoHr4

More Iraq News Posted by Tishwash at TNT 9-15-2026

TNT:

Tishwash:  Al-Zaidi's consultation with the head of Rothschild Bank on expanding Iraq's cooperation with international financial institutions

The Iraqi Prime Minister and the head of the Rothschild Bank met in Paris and discussed ways to expand Iraq's cooperation with international and global banks and financial institutions.

Iraqi Prime Minister Ali Falih al-Zaidi met and held talks with Edouard de Rothschild, chairman of the Rothschild Bank, at his residence in Paris, the capital of France, on Monday.

According to a statement from the Iraqi Prime Minister's Office, during the meeting, the two sides discussed ways to expand Iraq's cooperation with international and global banks and financial institutions, the Iraqi government's measures to develop and strengthen the banking sector, improve Iraq's credit rating, and the government's goals for creating a strong and diversified economy.

 Edouard de Rothschild emphasized the importance of investment opportunities available in Iraq and the areas through which international financial institutions can contribute to Iraq's development programs.  link

Tishwash:  An economist explains the extent to which cash liquidity can be withdrawn from citizens.

Economic expert Dr. Safwan Qusay explained the possibility of withdrawing the cash liquidity held by citizens and transitioning entirely to electronic systems.

Qusay told Al-Maalouma, "Some studies indicate that Iraq has the capacity to fund credit cards, with the aim of withdrawing the estimated 70 trillion dinars held by Iraqis, so that banks can access it to finance public expenditures."

He added, "By selling real estate shares or shares in companies with suitable returns through the Iraq Stock Exchange, banks can withdraw this liquidity through such projects."

He pointed out that "there is a need to incentivize Iraqis to buy bonds and shares through the returns and interest generated by the nature of the project being sold. This is one solution for withdrawing cash liquidity, which can be implemented in the coming period."  link

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

Tishwash: From Paris, Iraq requests Interpol's support to pursue corrupt officials and recover stolen funds.

On Monday, the head of the Integrity Commission, Mohammed Ali Al-Lami, called on Interpol to strengthen international cooperation and coordination in pursuing those wanted and accused in corruption cases, and to expedite the procedures for tracking them and exchanging relevant information. 

This came, according to a statement issued by the commission and received by Shafaq News Agency, during Al-Lami’s meeting with the president of the International Criminal Police Organization (Interpol), Lucas Philippe, on the sidelines of his participation in the government delegation visiting the French capital, Paris. 

Al-Lami stressed that “the transnational nature of corruption crimes, and the associated smuggling of funds and movement of wanted persons between countries, makes international cooperation a fundamental pillar in the system of combating it, stressing the need to prevent perpetrators of these crimes from exploiting borders or differences between systems and legislations to escape legal prosecution and benefit from the proceeds of their crimes.” 

He pointed out that “the escalation of anti-corruption campaigns in Iraq, and the tightening of prosecution, investigation and inquiry procedures, has prompted some of those involved to try to leave the country and take refuge outside its borders, which requires a rapid international response and effective coordination with Interpol and counterpart agencies to track down the wanted individuals, determine their whereabouts and take the necessary legal measures against them.”

The head of the commission explained that “some wanted individuals resort to various means and methods to obstruct the procedures for pursuing them, including taking refuge in foreign nationalities, or exploiting the differences between legal systems, as well as attempting to politicize criminal cases related to corruption,” stressing the importance of “exchanging information, evidence, and documents that contribute to clarifying the criminal nature of these cases and enhancing the chances of enforcing legal procedures regarding them.”

Al-Lami called for strengthening Interpol’s support for Iraq’s efforts in combating corruption, pursuing wanted individuals, and recovering the proceeds of their crimes, stressing that “confronting transnational corruption requires an effective international partnership that prevents providing any safe haven for corrupt individuals and reinforces the principle that fleeing the country does not mean escaping justice.” 

The statement noted that the discussions touched on mechanisms to expedite the pursuit and tracking of those wanted in corruption cases, and to facilitate the exchange of information about them, as well as activating points of direct contact and coordination between the two sides, in order to shorten procedures and enhance the speed of response to requests related to international prosecution.

He explained that the two sides discussed enhancing cooperation in the field of building the capacities of Iraqi personnel concerned with pursuing wanted persons and recovering funds, through specialized training programs, exchanging experiences and expertise, and benefiting from the capabilities and mechanisms provided by the international organization in the field of police cooperation and information exchange.

He pointed out that the meeting emphasized the importance of continuing coordination, developing communication channels, and exchanging information and experiences between the two sides, in order to raise the level of response in the files of those wanted in corruption cases, and to contribute to supporting Iraq’s efforts to pursue them and recover the funds and assets obtained from their crimes.

It is noted that Iraqi Prime Minister Ali Faleh al-Zaidi arrived earlier on Sunday evening in the French capital, Paris, on an official visit accompanied by a high-level government delegation, according to his media office.  link

Tishwash:  The Central Bank of Iraq is taking steps to reduce the dollar gap; A unified exchange rate for currency exchange offices is approaching 1320.

Informed sources revealed to the Independent Press Agency new moves within the Central Bank of Iraq aimed at reducing the large gap between the official exchange rate of the dollar and the prices circulating in the local market, through a package of measures being worked on to regulate the sale of foreign currency and tighten control over exchange companies, in conjunction with the continued rise of the dollar in Baghdad and other governorates.

The sources said the anticipated measures focus on reorganizing the mechanism for the dollar's access to the market and meeting the actual and legitimate demand for foreign currency, thereby reducing the dependence of traders and citizens on the informal market and limiting speculation that has pushed the exchange rate away from the levels set by the central bank.

According to information obtained by the Independent Press Agency, one of the options being considered in the coming period is setting a more disciplined and unified price for selling dollars through exchange companies and authorized outlets, so that the prices are much closer to the official price, instead of the wide gap currently recorded between the dollar available through official channels and its price in the market.

The sources indicated that the move, according to the available information, is not related to changing the official price of the dinar, but rather to trying to bring the price at which the dollar reaches the end beneficiary closer to the approved official levels, foremost among them the level of 1320 dinars per dollar, through procedures related to distribution, control, pricing and the mechanism of the work of exchange companies.

This information comes at a time when the Central Bank officially confirms that there is no intention to change the official exchange rate, as it was categorically denied on June 17, 2026, the news that spoke of amending the price of the dinar, warning against circulating documents or information not issued by it.

The official pricing system announced by the Central Bank in February 2023 is based on a rate of 1,300 dinars for purchasing dollars from the Ministry of Finance, 1,310 dinars for selling dollars to banks, and 1,320 dinars as the maximum selling price from banks and non-bank financial institutions to the end user. Official bank data also shows the rate remaining at 1,310 dinars per dollar.

Tightening restrictions on exchange companies

Sources from “Independent Press” confirm that the current phase is already witnessing increased oversight of exchange companies, and that this trend is likely to expand in the coming days, especially with regard to the sources of buying and selling dollars, the approved prices, the movement of funds, and compliance with the Central Bank’s regulations.

These moves are consistent with measures taken by the bank during the past months to strengthen oversight of the money exchange sector. In June 2026, the bank asked A and B category money exchange companies and brokerage firms to provide it with data relating to bank accounts for regulatory and supervisory purposes. It also continued during 2026 to withdraw licenses from violating companies and tighten compliance requirements.

Last April, the Central Bank confirmed its ability to meet all requests from banks and exchange companies for dollars allocated to travelers, pilgrims, and foreign transfers, indicating that a key part of its strategy is based on increasing access to dollars through official channels instead of allowing demand to flow to the informal market.

25,000 dinars gap for every 100 dollars

The anticipated moves are gaining even greater importance as the large gap between the official price and the local market continues.

The selling price of the dollar in Baghdad exchange shops on Monday, September 14, 2026, was recorded at about 157,000 dinars per 100 dollars, while the buying price was about 156,000 dinars, while the Al-Kifah and Al-Harithiya exchanges recorded about 156,500 dinars per 100 dollars.

Assuming a rate of 1320 dinars per dollar for the end beneficiary through official channels, the value of 100 dollars is approximately 132,000 dinars, which means there is a gap of approximately 25,000 dinars per 100 dollars compared to the selling price traded in some exchange shops in Baghdad.

According to sources, this gap is what the central bank seeks to gradually reduce, not by changing the official price, but by expanding official channels and facilitating the fulfillment of the real demand for dollars, while increasing oversight of entities that buy currency at the official price and then these prices are not actually reflected in the end beneficiary.

The Central Bank had previously paved the way for this path.

The anticipated move brings back to the forefront a previous position of the Central Bank, in which it stressed that the dollar circulating in Iraq comes mainly from the Central Bank through banks, exchange companies and brokerage, and that dealing at prices far from the set price is related to speculation more than it is a normal independent exchange market.

The bank also confirmed on June 22, 2026, the continuation of its reform program to maintain monetary and financial stability, stressing its continued commitment to meeting legitimate demand for dollars and taking the necessary policies to maintain exchange rate stability and the integrity of financial channels.

According to sources from the Independent Press Agency, the coming days will be important regarding the dollar issue, and may witness the implementation of additional measures at the level of exchange companies and pricing and distribution mechanisms, in an attempt to create a more disciplined price in the market and reduce the space in which speculation moves.

The sources confirmed that the ultimate goal of the proposed measures is to bring the dollar available to citizens and merchants through legal channels closer to the official rate, and to increase the ability of official channels to meet demand, which, if the measures are implemented efficiently and the required quantities are provided, may lead to increased pressure on the informal market and push exchange rates to gradually decline.

However, the sources stressed that the success of these measures will remain linked to the central bank's ability to ensure that the dollar reaches the rightful beneficiary at the set price, and to prevent its resale outside official channels, in addition to securing the needs of trade and foreign transfers on a regular basis.

Thus, the Iraqi exchange market enters a new phase of anticipation, amid a still significant gap between the official and parallel market rates. All eyes are on the Central Bank to see what measures it may announce in the coming days, and to what extent they can bring the dollar back to levels closer to the official rate.  link

Iraq Economic News and Points To Ponder Tuesday Afternoon 9-15-26

"The Baghdad Dinar Is Disappearing... Close The Borders!" The Final Solution Is To Abolish Iraq's Paper Currency!  

2026-09-15 | Baghdad -    Perhaps no country in the world has abolished paper currency, but amidst the anxiety surrounding discussions in the local market and among banks—both those sanctioned and those not—within an economy mired in a ceaseless war, an Iraqi expert and academic believes that the chaos plaguing the financial market necessitates the "complete abolition of paper currency" and its conversion into a bank card for every citizen.

This is preferable to other proposals for addressing the escalating liquidity crisis. "Neither removing zeros nor replacing denominations with larger ones (such as a 100,000 dinar note) will work," he argues. He suggests that abolishing paper currency would bring all "buried, stolen, and smuggled funds back" in a documented and verifiable manner.

However, this expert also calls for a measure to be implemented: "closing the borders" so that Baghdad can effectively nullify the value of "stolen, buried, and smuggled dinars" within the country or in neighboring states like Turkey and Iran.

He does not, however, specify a timeframe for closing the borders! While this proposal appears desperate, it reflects the intensity of the debate among Iraqi financial experts regarding how to address the "disappearance of the dinar and liquidity" from the market and the resulting scarcity that hinders salary payments and stifles daily economic activity.

According to expert Safwan Qusay, in a conversation with journalist Mona Sami, which was followed by 964 Network .

Economic expert Safwan Qusay stated, “Our problem is that the Central Bank issued currency worth 106 trillion dinars, 40 trillion of which are within the banking system, while more than 60 trillion dinars remain in the form of cash in the pockets of Iraqis.

This amount does not enter the banking system, so we need to call these funds to find out where they are. Here, opinions vary.”

Some advocate removing zeros as long as a new currency is to be printed.

Some argue that there is no need to remove zeros and print more currency, but rather to move towards using only electronic payment cards. They suggest giving Iraqis a grace period, say until the end of the year, during which they would deposit all their savings into the card.

This would lead to a halt in cash purchases, causing paper currency to lose its legitimacy. People would then be forced to deposit cash into the card, which would have a special code that, if entered into the banks, would be monitored. Any money that is missing would be discarded.

He added: “This should include each category separately; all categories should not be included at once. Such a measure requires closing the borders, because there is a portion of the dinar that some suspect is outside Iraqi borders, since the Iranian currency has been subjected to many shocks, so it is not unlikely that they have saved Iraqi money.

The same applies to the Turks. Therefore, the process begins with closing the borders, recovering the money, and then injecting it back into circulation in a legitimate way through the electronic card. At that point, the legitimacy of money not belonging to the government, especially buried money, will be lost, and this measure will restore the prestige of the Iraqi dinar.”

Editor's PicksSmuggling Iraqi dollarsFourth Gulf War

https://964media.com/717166/

Political Forces Continue Consultations, And The Prime Minister Intends To Finalize The Cabinet This Month

Baghdad - One News - 9/15/2026   A source within the coordination framework revealed the reasons for postponing the meeting of the framework's leaders, which was scheduled to be held yesterday, attributing this to Prime Minister Ali al-Zidi's trip to France and Germany, and the continued disagreements regarding the resolution of the vacant ministries.  

The source said that the political forces have not yet reached a final agreement on the vacant ministries, which prompted the leaders to agree to postpone the meeting until after the Prime Minister returns from his European tour and reviews the results of the visit.  

He added that the forces of the framework will continue during the postponement period the contacts and consultations among themselves with the aim of reaching solutions regarding the file of the remaining ministries.

He pointed out that Al-Zidi informed the political leaders before his departure to France and Germany of the need to resolve the issue of the government cabinet during this month, and to end the controversy and expedite the completion of the formation of the government.  

https://1news-iq.net/القوى-السياسية-تواصل-المشاورات-ورئيس/

"Grow Our Way Out of Debt” Is Code for Inflation

"Grow Our Way Out of Debt” Is Code for Inflation

Notes From the Field By James Hickman (Simon Black / Sovereign Man) September 14, 2026

Last week, Treasury Secretary Scott Bessent sat down for a fireside chat at Southern Methodist University in Dallas and told the room what the plan is for the national debt.

"We don't have a revenue problem," he said. "We have a spending problem." Contain the spending, add 3% growth, and America can "grow our way out of this."

That’s a nice idea... and, it’s possible. The key part there is the spending freeze: arrest the growth in federal spending, and the deficit will eventually melt away.

The problem, of course, is that Congress won't even cut obvious fraud. So I don’t think taxpayers should hold their breath for sudden fiscal responsibility.

The growth side of his approach is feasible. But what does "grow our way out" of the debt actually mean?

The national debt is now a little over $40 trillion. Meanwhile the entire US economy— everything produced by every business and every worker in the country over a full year— is about $32.5 trillion.

This means the debt is 123% of GDP, i.e. the all-important debt-to-GDP ratio is 123%.

That ratio is the key indicator that bond investors watch. And it's the number Secretary Bessent is talking about when he says the US can grow its way out of debt.

The whole point is to bring that percentage down, from 123% today to something more like 80% or 90%.

Notice what he did NOT say. He didn't say the debt would shrink. He didn't say the deficit would go away. Growing your way out means the debt keeps getting bigger… it just grows at a slower pace, while the economy grows at a much more rapid pace.

Specifically, the US national debt has been growing at an average 6.7% per year over the past few years... which means ‘growing our way out’ will require the US economy to expand by at LEAST 7% per year, just to make a dent in the debt-to-GDP ratio.

Now go back to Bessent's number: he’s talking about 3% growth.

And when he says 3%, he means real growth, i.e. the economy producing 3% more goods and services than it did the year before. That means more cars, more houses, more software, more oil… more actual stuff.

But we just established that the economy will require 7% growth in order to fix the debt challenge.

So where, exactly, is the other 4% supposed to come from?

It comes from inflation. In short the economy produces 3% more stuff, but the stuff costs 4% more. In total that gets you to more or less 7% GDP growth, while the debt increases by 6.7%.

And with that, you have a tiny improvement to America’s dismal debt-to-GDP ratio.

This is already the path that they’re on; in the last year, America’s total (i.e. nominal) GDP growth was 6.5%. Of that, only 2% was real growth, i.e. the production of more goods and services.

The rest, about 4.5%, was from rising prices.

So "growing our way out" is really just a polite way of saying inflation. And the government is effectively telegraphing a 4% inflation target. As it happens, that's about where inflation already is right now.

In other words, the plan is to make everything else more expensive faster than the debt grows, and to call that a fix.

Four percent a year doesn't sound like much. But it compounds, and at that rate a dollar loses about a third of its purchasing power in ten years.

The solution is to own the stuff they can't conjure out of thin air.

A government can print money by the trillion, but it can't print an ounce of gold or a barrel of oil, or anything else that’s real or critical to the economy.

That's why real assets tend to hold their value when the currency is losing value... and why the businesses that produce those assets— gold miners, energy companies, copper producers, chip makers, etc.— often do spectacularly well.

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

P.S. Real assets are the whole premise of Schiff Sovereign's investment research newsletter, Strategic Assets: profitable, well-run companies that produce the things a government can't print, researched while they're still cheap.

We locked in gains of more than 10x on a small silver producer we featured last year, and a gold producer has gone up 5x yet still trades cheaper against its earnings than the day we wrote it up. Two oil tanker owners we covered when nobody wanted them are up more than 150% and 110%.

https://www.schiffsovereign.com/investing/grow-our-way-outof-debt-is-code-for-inflation-155858/?inf_contact_key=85b510dcee228d00a74512f3306eab17ac3ab1b4137982eb0658e0edc22b6525

Ariel: This is an Extreme Wait and See Game (and more)

Ariel: This is an Extreme Wait and See Game

9-14-2026

Many Wanted Me To Comment On This:   Here Is My Deal

What we know is that the CBI’s digital currency framework is designed to maintain 1:1 parity between paper IQD and dIQD. The permissioned ledger running through Trade Bank of Iraq, Rafidain, and Rasheed ensures the digital representation mirrors the physical currency’s value.

If the CBI sets the post-RV rate at $3.22, then:

1 paper IQD = $3.22
1 dIQD = $3.22

The $28.00 Ripple ledger price is independent of that equation because it’s not the CBI’s rate it’s a derivative trading price inside a separate financial layer.

The Ripple ledger price is driven by:

• Limited supply of the tokenized IQD instrument
• Speculative demand from XRP ecosystem participants
• Pre-positioning by entities anticipating the RV but trading in a parallel market

The CBI’s Exchange Rate Is Driven By:

• Iraq’s foreign reserves
• Oil revenue backing
• IMF and BIS coordination
• Post-Clarity Act regulatory framework for sovereign currency reissuance.

The $28. figure is a signal that informed capital is bullish on IQD, but it’s not a promise of what you’ll receive at exchange.

Now I Will Say This Since We Are On The Topic

The $28.00 on the Ripple ledger isn’t random. If that’s a pre-positioned forward rate that institutional counterparties are already settling at, then the question is this. What makes that rate go from “speculative ledger pair” to “sovereign public rate”?

Answer: the same structural reset that makes the USD itself worth less relative to hard assets.

If the dollar loses 50% of its purchasing power in a controlled demolition of the fiat system, and IQD is simultaneously re-pegged to a gold/oil/rare-earth basket at a new valuation, the math gets you into double digits.

This Is A Extreme Wait & See Game

$28.00 specifically? That’s the extreme end. That requires the USD to lose 70-80% of its value AND Iraq’s asset base to be revalued at new commodity prices AND the dinar to be positioned as the regional reserve settlement instrument. It’s not impossible it requires a total systemic reset.

The dollar doesn’t have to die. It has to shrink. A 75% devaluation against a commodity basket puts $28.00 IQD within the math.

The Glue That Holds This Thought Together?

Donald Trump has always said the USD needs to lose significant value in order for the Middle East to trade at a equal level playing field. Is a 70% to 80% reduction in the cards? Well we are at 90% I presume at this stage. Does that count? Let’s see how this goes.

Source(s):
• https://x.com/Prolotario1/status/2099618953836237038

https://dinarchronicles.com/2026/09/15/prolotario-this-is-an-extreme-wait-and-see-game/

Ariel:  Iraqi Budget Mechanics, Rate Pre-Positioning, Clarity Act Opposition Mapping

9-14-2026

Iraqi Musical Chairs: Walking In Circles Until The Music Stops (Tomorrow’s Vote)

Iraqi Budget Mechanics, Rate Pre-Positioning, Clarity Act Opposition Mapping

The Rate-First Stratagem

The Prime Minister’s court bypass maneuver through the Federal Court of Cassation stripped parliament’s standing finance review authority in July 2026, establishing that no budget figures require legislative pre-clearance before executive ratification.

This creates a narrow operational window where the Central Bank of Iraq can execute a redenomination adjustment between the Finance Committee’s September 15 vote and parliament’s October 15 plenary session.

If the rate shifts before parliament sees the numbers, lawmakers receive an already-calibrated budget with reduced zero-load figures that reflect the new exchange math. They cannot demand a pre-rate preview because the court ruling eliminated their entitlement to interim financial documents.

The budget arrives as a finished instrument, not a draft subject to amendment. By the time parliamentarians parse the equations, the international rate has already posted through the Bank for International Settlements clearinghouse.

The window is narrow but the mechanism is legally sound. Majeed spoke on this as well. We will see what they do in short order.

The September 15 Finance Committee Vote

The committee vote tomorrow morning carries stakes far beyond budget approval because it locks the baseline figures the PM needs to justify post-rate adjustments. Committee chair Ali Jabbar al-Mousawi has quietly aligned with the State Administration Coalition’s reform bloc, ensuring the numbers that move forward reflect post-redenomination logic rather than legacy dinar accounting.

Three committee members with documented ties to Iran-backed Popular Mobilization Units specifically factions loyal to Badr Organization’s Hadi al-Amiri have signaled abstention rather than opposition, which signals back-channel deals were struck in the past 72 hours. The abstentions prevent a blocking vote while allowing those members to claim deniability to their militia patrons.

Finance Committee approval sends the package to the Council of Ministers for final executive sign-off before parliamentary notification. That executive layer is where the rate adjustment gets embedded without legislative interference. The PM’s legal counsel confirmed this sequencing in a closed session Wednesday evening at the Government Palace on Haifa Street.

The Trump Ultimatum Architecture

The September 30 deadline delivered through diplomatic channels carries three enforcement tiers structured as escalating rather than binary. Tier one activates October 4 with a suspension of dollar clearing privileges through the Federal Reserve Bank of New York’s Correspondent Banking Division, which handles all Iraqi oil revenue repatriation.

Tier two follows within 14 days with formal designation under the State Sponsors of Terrorism statute, triggering automatic sanctions cascading through 27 federal agencies under Executive Order 13846’s framework.

Tier three involves a Treasury Department block on Iraq’s Special Drawing Rights access at the International Monetary Fund, effectively quarantining their reserve currency operations.

The PM understands these are not negotiable positions but operational timelines already staffed within the State Department’s Bureau of Near Eastern Affairs. Designation removal historically requires an average of 36 months minimum Cuba spent 33 years on the list, North Korea 43, Iran 41. Iraq cannot survive that isolation with a post-conflict economy still dependent on 90% oil revenue.

Read Full Article:
https://www.patreon.com/Prolotario1/posts/iraqi-musical-in-169549660

https://dinarchronicles.com/2026/09/14/prolotario-iraqi-budget-mechanics-rate-pre-positioning-clarity-act-opposition-mapping/

Reset Intelligence: Who Holds the Clock.

Reset Intelligence: Who Holds the Clock.

By Reset Intelligence | @EXIT_FIAT

Iraq's 2027 budget reached the cabinet today, exactly on schedule. The same day, the prime minister was in Paris with Edouard de Rothschild of Rothschild and Co, talking credit ratings and international banks.

Parliament gets the budget on October 15. For the first time, Baghdad has printed the width of the gap between the draft and the vote. The 2023 record says that gap is where Iraq's rate decisions actually live.

The week every gate got a date

Nothing slipped. The cabinet received the draft on the day the government said it would, and the finance ministry told parliament to expect the bill on October 15. In 2023, the exchange rate moved at the central bank in February and the budget law recording it reached parliament in June. The vote records what the bank has already done. That is the pattern, and Baghdad just printed the window.

And the man whose government wrote the budget spent Monday in Europe showing the books to the oldest banking name on the continent.

• Rothschild and Co - Edouard de Rothschild met al-Zaidi in Paris to discuss lifting Iraq's credit rating and opening its banking sector to international institutions

• TotalEnergies - chairman Patrick Pouyanne put its Iraq investment at $12 billion, rising to $16 billion, with a 10 percent stake sought in the pipeline consortium that bypasses Hormuz

• The Elysee - the Macron meeting was tied to contracts, not memorandums, and Berlin is next on the tour

• VTB Bank - Treasury designated one of Russia's largest banks for building a rial to ruble settlement system for Iran, 4 days after striking the militia network inside Iraq's state-funded PMF

• September 30 - the Iran-aligned factions face a disarmament deadline that reporting says carries Iraq's monthly dollar transfers as collateral

• Cardiff - the first ministers of Scotland, Wales, and Northern Ireland signed a joint declaration asserting the right to leave the United Kingdom, 2 days after the US President called Irish reunification fantastic from Dublin

So who does the month between the draft and the vote actually serve? Baghdad's open weapons file, Washington's unfinished rails, or a calendar built on purpose? There are three honest answers, and the full briefing walks through all three, including the one we put our own name on.

This is the short version. The connection between the Rothschild meeting, the printed window, and the deadlines stacked behind them is in today's full briefing.

The clock on this file has an owner. The only question history will ask is who saw it while it was actually happening.

Read the full daily briefing free for 5 days. Sign up here: resetintelligence.com

Want it straight from the horse's mouth? The CBI Rate Alert pings you the moment the Central Bank of Iraq moves the official rate. The number itself, not a rumour about it. It comes with our free resource library and the daily breakdown of what is actually moving in Iraq. Sign up free: resetintelligence.com/rate-alert

Got a dinar question? Reset Intelligence runs an on-call research assistant: ask it anything they have published. It answers in seconds and will conduct deep research to find you the answer. Try it: resetintelligence.com/research-assistant

The design behind all of it is mapped in Head of the Snake, and the free guides live in the resource library.

Follow the daily intel free: Telegram · Facebook · Spotify · Odysee

(Emailed to Recaps)

News, Rumors and Opinions Tuesday 9-15-2026

Stephanie Starr: If Congress Advances this

9-15-2026

If Congress advances this, the United States is formally acknowledging Bitcoin as a strategic national asset — something potentially worth holding on the federal balance sheet rather than automatically selling.

Why that matters? Protects U.S. exposure to a scarce digital asset. Strengthens America’s position in the global digital-asset economy. Signals that crypto is becoming part of mainstream financial policy. Encourages long-term regulatory and institutional certainty. Forces other nations to think seriously about their own digital-asset reserves. Moves the conversation from “Should crypto exist?” to “How does America compete?”

And remember: governments around the world already hold strategic reserves of assets they consider important to national and economic security. Bitcoin entering that conversation is a massive shift in legitimacy. Between market-structure legislation, stablecoin regulation, institutional adoption and now movement on a Strategic Bitcoin Reserve…

Clarity Act in the Senate Tuesday. Bitcoin Reserve in the House Financial Committee on Wednesday! Tuesday = How America REGULATES digital assets. Wednesday = How America potentially HOLDS digital assets as a strategic national asset. That is a MASSIVE shift from where we were just a few years ago.

We spent years asking whether Washington would accept crypto at all. Now Congress is simultaneously discussing the rules governing an entire digital-asset economy and the role Bitcoin could play in America’s strategic reserves.

This is not 2017 crypto anymore.

Digital assets are moving into U.S. financial infrastructure and policy. One bill at a time. One vote at a time.

Watcher.Guru:  JUST IN: 🇺🇸 House Financial Services Committee to vote on advancing the Strategic Bitcoin Reserve bill this Wednesday.

Source(s):
• https://x.com/StephanieStarrC/status/2099640410503078010

https://dinarchronicles.com/2026/09/14/stephanie-starr-if-congress-advances-this/

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

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

Frank26   The HCL is in two parts.  First we needed to get all the legislation and get all the laws through.  Most of all Article 140 and to get Erbil and Kurdistan to agree with it.  That's all check.  What's the second part?  Change the exchange rate...

Militia Man  The development road project is moving forward...They are moving towards diversification and have fully engaged in it...Haven't we seen in the news for the last months - United States partnership, you got the UK partnership...You got the Japanese partnership...You guys get the point.  Investment partnerships was many of them - Chevron... Conoco-Phillips... Siemens...GE...Starlink...The Development Road is all about strategic value...

Jeff   Iraq for the most part through the end of August... provided us with very misleading, inaccurate news.  So what makes September any different?  It's the amount of data coming in at the same time...They have one critical date period in this...the rate change date... Everything is coming together at the same time, which is around mid-September...As you can see around mid-September everything in Iraq is coming together, happening at and around the same time.  That's not coincidental.  The fact that everything is coming together at once, builds more credibility...

The 90% Stock Crash has Already Begun | Harry Dent

WTFinance:  9-15-2026

On this episode of the WTFinance podcast I had the pleasure of welcoming on Harry Dent. Harry S. Dent, Jr. is a best-selling author and one of the most outspoken financial editors in America.

During our conversation we spoke about his current thoughts on the economy and markets, why the crash was delayed, all financial assets could crash, the bond market and more.

0:00 - Introduction

2:08 - Overview of the economy and markets?

14:22 - Crash has been delayed

19:41 - All financial assets to crash?

22:54 - Bonds

30:38 - Resolve the crisis?

42:17 - One message to takeaway?

https://www.youtube.com/watch?v=hO0LGfwwDGo

Seeds of Wisdom RV and Economics Updates Tuesday Morning 9-15-26

Good Morning Dinar Recaps,

GLOBAL BOND WARNING: U.S. TREASURY YIELDS BREAK ABOVE 5% AS OIL SHOCK AND FED RATE FEARS DEEPEN

U.S. Treasury yields have broken above the critical 5% level as surging oil prices, renewed inflation concerns, heavy government borrowing and expectations for another Federal Reserve rate hike intensify pressure across global bond markets.

 OVERVIEW

• The U.S. 10-year Treasury yield has risen above 5%, reaching its highest level since 2007. The move comes as investors reassess inflation, Federal Reserve policy and the amount of debt governments must finance.

• Oil prices near $107–$108 a barrel are adding to inflation concerns. Continuing disruptions to Middle Eastern energy supplies are increasing the likelihood that inflation could remain elevated, putting additional pressure on central banks.

• The bond-market pressure is becoming global. Government borrowing costs have reached their highest levels since the 2008 financial crisis, with Japan and European bond yields also climbing as investors demand greater compensation for inflation and fiscal risks.

KEY DEVELOPMENTS

1. The 10-Year Treasury Yield Breaks Above 5%

The U.S. Treasury market has reached a major psychological threshold.

The benchmark 10-year Treasury yield has climbed above 5%, reaching its highest level since 2007.

This is important because Treasury yields influence borrowing costs throughout the U.S. economy.

Mortgages, corporate loans, consumer credit and government borrowing are all affected by movements in Treasury yields.

The 5% level therefore represents more than a market statistic.

It signals that investors are demanding substantially higher returns to hold longer-term U.S. government debt.

2. Oil Shock Is Feeding the Bond Selloff

The bond-market move is occurring alongside a major energy shock.

Oil prices have remained near four-month highs, with Brent crude around $107 a barrel, as attacks and disruptions involving Middle Eastern energy infrastructure continue.

Higher oil prices create a difficult problem for central banks.

Energy is a major component of the cost structure underlying transportation, manufacturing, agriculture and consumer goods.

If oil remains elevated, inflation could prove more persistent than policymakers would prefer.

That increases the possibility of higher interest rates for longer.

3. The Fed Faces a Difficult Policy Decision

The Federal Reserve begins its two-day policy meeting today, with markets assigning a very high probability to another rate increase on Wednesday.

The challenge is that the Fed is confronting several competing forces.

Higher rates can help contain inflation, but they can also slow economic activity and increase borrowing costs.

At the same time, cutting rates while energy prices are pushing inflation higher could risk allowing price pressures to become more persistent.

The bond market is therefore anticipating that the Fed may have to maintain a tighter monetary stance.

4. Government Debt Is Becoming More Expensive

Higher Treasury yields have another major consequence: the cost of financing government debt rises.

The United States is not the only country facing this problem.

Global government borrowing costs have climbed sharply, with bond yields in Japan and Europe also reaching multi-year or multi-decade highs.

When governments must refinance large amounts of existing debt at higher interest rates, more of their budgets can eventually be consumed by interest payments.

That can reduce fiscal flexibility at precisely the time governments may need to respond to an energy shock or economic slowdown.

5. A Global Bond Repricing Is Underway

The significance of today's move extends beyond the U.S. Treasury market.

Reuters reports that global bond yields have reached their highest levels since the 2008 financial crisis.

That suggests investors are reassessing the risks surrounding:

Inflation + Government Debt + Interest Rates + Fiscal Deficits + Energy Prices

The result is a broad repricing of government borrowing costs.

For financial markets, this matters because bonds sit at the foundation of global credit markets.

When the cost of government borrowing changes substantially, the effects can spread into corporate financing, mortgages, investment decisions and currency markets.

WHY IT MATTERS

• The 5% Treasury yield is significant because the bond market is beginning to reflect several pressures at the same time.

• Oil prices are rising.

• Inflation expectations are increasing.

• The Federal Reserve is preparing to tighten policy.

• Government debt remains elevated.

• And investors are demanding greater compensation for holding long-term bonds.

These pressures can reinforce one another.

Higher inflation can push rates higher. Higher rates can increase debt costs. Higher debt costs can increase fiscal pressure. And greater fiscal pressure can cause investors to demand even higher yields.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

Readers hold foreign currency with the hopes that it will increase in value when the Global Reset occurs.

Today's bond-market development matters because Treasury yields and U.S. interest rates influence global capital flows, currency values and international borrowing costs.

When U.S. yields rise, dollar-denominated assets can become more attractive to international investors.

That can support the dollar and put pressure on some foreign currencies.

However, a Treasury yield above 5% does not guarantee a currency revaluation or establish a date for a Global Reset.

For foreign currency holders, the more important signal is the changing structure of the global financial system.

Hope is understandable. Evidence is essential.

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1 — Debt and Bond Markets

The global bond selloff highlights the enormous importance of government debt to the financial system.

Higher yields mean higher borrowing costs.

For governments carrying substantial debt, that can eventually make refinancing increasingly difficult.

The relationship between bond yields, government debt and fiscal sustainability will therefore be an important pressure point to watch.

• Pillar 2 — Energy and Inflation

The current bond-market stress also demonstrates how quickly an energy disruption can move into financial markets.

Oil prices affect inflation.

Inflation influences monetary policy.

Monetary policy influences interest rates.

Interest rates influence bond yields.

This creates a direct connection between physical energy flows and the global financial system.

• Pillar 3 — Currencies and Capital Flows

Rising U.S. yields can influence where international investors place their money.

If investors move capital toward higher-yielding U.S. assets, demand for dollars can increase.

At the same time, countries with high debt, weaker currencies or large energy-import bills can face additional financial pressure.

This could contribute to a more volatile currency environment as central banks respond differently to inflation and economic growth.

THE BOTTOM LINE

The U.S. 10-year Treasury yield breaking above 5% marks a major change in the financial environment and comes as global bond yields reach their highest levels since the 2008 financial crisis.

The immediate pressure is coming from several directions at once: elevated oil prices, renewed inflation concerns, expectations for tighter Federal Reserve policy and the enormous amount of government debt that must continually be financed.

The bond market is now becoming a pressure point where the energy crisis, inflation, monetary policy and global debt problem are converging.

Seeds of Wisdom Team
Newshounds News™ Exclusive

SOURCES

1. Reuters — "Global bond yields hit 2008 highs, raising stakes for big borrowers"

2. Reuters — "Stocks down on energy shock concerns, global yields hit fresh highs"

~~~~~~~~~~

🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different:    • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents.      Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Tuesday Morning 9-15-26

2027 Budget Heads To Iraqi Parliament October 15

2026-09-14 / 05:58   Shafaq News- Baghdad   Iraq’s Finance Ministry plans to submit the 2027 federal budget bill to Parliament on October 15, Parliamentary Finance Committee member Jamal Kocher told Shafaq News on Monday, after two years without an enforceable federal budget.  

Kocher said Finance Minister Faleh Sari informed the committee of the submission date, in line with deadlines set under the country’s financial management law.  

Iraq enacted a three-year budget law covering 2023-2025 under former Prime Minister Mohammed Shia Al-Sudani, but Parliament did not approve the 2025 spending schedules before the fiscal year ended, preventing that year’s budget from being implemented. No federal budget law was passed for 2026.  

Read more: Iraq moves to results-based budgeting in 2027  

https://www.shafaq.com/en/Economy/2027-budget-heads-to-Iraqi-Parliament-Oct-15

PM Adviser: Iraq’s Banks Can Meet Depositor Obligations

2026-09-14 10:00    Shafaq News- Baghdad   Current indicators show no cause for concern over the Iraqi banking sector’s ability to meet its obligations to depositors, the Prime Minister’s Financial and Economic Adviser told Shafaq News on Monday.

Mudher Mohammed Saleh said regulators continuously monitor liquidity, solvency, capital adequacy and asset quality, as well as credit and market risks and asset-liability management. Saleh also urged citizens to rely on official information rather than rumors.

Asked about potential risks to Iraqis’ deposits or restrictions on withdrawals, he said protecting deposits and maintaining banking-system stability were regulatory priorities, adding that banks must maintain sufficient liquid assets to meet short-term obligations, withdrawals and transfers.

“Protecting depositors’ funds and maintaining confidence in the banking system are also essential to monetary and financial stability,” Saleh said.

Shafaq News contacted the Central Bank of Iraq seeking answers to several questions, but most officials declined to comment.

Read more: Banking without trust: Why Iraqis still keep their money in cash

Varying Risks

The absence of official restrictions on withdrawals does not necessarily mean all Iraqi banks enjoy the same level of stability, economic researcher Ahmed Eid told Shafaq News. Some banks facing financial difficulties or regulatory measures could experience temporary problems meeting withdrawal requests, he stated, but that does not mean the situation applies to the sector as a whole.

Eid attributed weak liquidity in Iraq’s banking system partly to citizens keeping large amounts of cash outside banks because of low confidence.

Read more: Cash culture dominates Iraq, reform efforts stall

Reforms and Depositor Protection

Economist Ahmed Abdul-Rabbo said regulatory measures against banks should not be equated with insolvency, saying they were part of a broader reform program assessing banks against governance, compliance, risk-management and transparency standards, with banks potentially remaining independent, merging or exiting the market.

Abdul-Rabbo also cautioned against automatically linking the reform program to speculation about general withrawal restrictions.

Read more: Banking sector faces turning point in Iraq’s reform drive

https://www.shafaq.com/en/Economy/PM-Adviser-Iraq-s-banks-can-meet-depositor-obligations

Dollar Rises In Baghdad, Erbil Markets

2026-09-14 10:24   Shafaq News- Baghdad/ Erbil  The US dollar closed Monday’s trading higher in Iraq, hovering around 157,000 dinars per 100 dollars.

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,650 dinars per 100 dollars, up from the morning session’s 156,500 dinars.

In the Iraqi capital, exchange shops sold the dollar at 157,000 dinars and bought it at 156,000 dinars, while in Erbil, selling prices stood at 156,400 dinars and buying prices at 156,300 dinars.

https://www.shafaq.com/en/Economy/US-dollar-prices-increase-in-Baghdad-Erbil

Basrah Crudes Slip Despite Benchmark Gains

2026-09-15 02:31   Shafaq News- Basrah  Iraq’s Basrah crude declined more than 0.5% on Tuesday, amid gains in benchmark crude futures.

Basrah Heavy crude fell by 53 cents, or 0.55%, to $95.58 per barrel, while Basrah Medium crude slipped by 53 cents, or 0.53%, to settle at $98.88 per barrel.

Brent crude futures rose by $1.37, or 1.3%, to $107.05 per barrel, while US West Texas Intermediate futures gained $1.53, or 1.51%, to $102.92 per barrel.

https://www.shafaq.com/en/Economy/Basrah-crudes-slip-despite-benchmark-gains

Gold Holds Steady Ahead Of Fed Decision

2026-09-15 03:15 Shafaq News   Gold held steady ​on Tuesday after touching a more than one-month low in the previous ‌session, as investors geared up for the U.S. Federal Reserve's policy decision for clues on the future path of monetary policy.

Spot gold was little changed at $4,302.13 per ounce, as of 0510 GMT, after ​hitting its lowest point since August 7 on Monday.

U.S. gold futures were ​down 0.2% at $4,341.70.

The U.S. central bank will announce its policy decision at 1800 ⁠GMT on Wednesday following the end of a two-day meeting. Financial markets are betting ​heavily that Fed policymakers will lift their benchmark rate a quarter of a percentage ​point to a 3.75%-4.00% range.

"How Fed Chair Kevin Warsh frames that hike will matter more than the hike itself for gold... If he casts it as the start of a meeting-by-meeting tightening cycle, that ​would be a hit to gold and to risk assets overall," IG market analyst ​Tony Sycamore said.

"If instead he signals a preference for a more measured pace, that would prove ‌somewhat supportive ⁠for risk sentiment and for gold."

Though seen as a hedge against inflation and geopolitical risks, gold often loses appeal when rates increase as they raise the opportunity cost of holding non-yielding bullion.

Data on Friday showed U.S. consumer prices accelerated in August, while a key ​measure of underlying inflation ​posted its largest ⁠increase in four months.

On the geopolitical front, Yemen's Iran-aligned Houthis launched a fresh wave of attacks on Saudi Arabia and were digging into ​positions on the western coast of Yemen along the Red Sea. ​Oil prices ⁠rose on concerns over supply disruptions.

Meanwhile, U.S. 10-year Treasury yields hit 5% on Monday for the first time since October 2023. The milestone is a threshold that analysts say could ripple ⁠through ​the U.S. economy and threaten the bull market in ​stocks by denting the relative appeal of U.S. equities.

Spot silver steadied at $63.25, platinum gained 0.7% at $1,770.81 and palladium ​fell 0.4% to $1,288.25.   (REUTERS)

https://www.shafaq.com/en/Economy/Gold-holds-steady-ahead-of-Fed-decision

Dollar Rises In Baghdad, Erbil Markets

2026-09-15 03:57  Shafaq News- Baghdad/ Erbil  The US dollar opened Tuesday’s trading higher in Iraq, hovering around 157,000 dinars per 100 dollars.

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,600 dinars per 100 dollars, up from the previous session’s 156,500 dinars.

In the Iraqi capital, exchange shops sold the dollar at 157,000 dinars and bought it at 156,000 dinars, while in Erbil, selling prices stood at 156,350 dinars and buying prices at 156,250 dinars.

https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-Erbil-markets-6-0