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Iraq Economic News and Points To Ponder Sunday Morning 7-13-25

A Semi-Final Agreement With The Region To Begin Exporting Oil

July 12, 2025  Baghdad - Qusay Munther  Oil Minister Hayan Abdul Ghani revealed that a near-final agreement has been reached with the Kurdistan Region to resume oil exports via the Turkish port of Ceyhan. He noted that negotiations have reached their final stages after resolving most of the contentious issues between the two parties, with the exception of the issue of domestic consumption, which remains under discussion.

A Semi-Final Agreement With The Region To Begin Exporting Oil

July 12, 2025  Baghdad - Qusay Munther  Oil Minister Hayan Abdul Ghani revealed that a near-final agreement has been reached with the Kurdistan Region to resume oil exports via the Turkish port of Ceyhan. He noted that negotiations have reached their final stages after resolving most of the contentious issues between the two parties, with the exception of the issue of domestic consumption, which remains under discussion.

Abdul Ghani said in a statement yesterday that “the budget specified quantities of crude oil that must be delivered from the Kurdistan Regional Government to the federal government for export. It stipulated the delivery of 400,000 barrels per day to the federal government, specifically to the State Oil Marketing Organization (SOMO), for export via the Iraqi-Turkish pipeline.” ]

He stressed that “during this period, intensive talks and negotiations took place to implement this initial agreement or what was stipulated in the budget law.

Based on these negotiations, the budget law was amended to expedite the implementation of the agreement and deliver the quantities according to the amendments. $16 was set for each barrel produced by the region as an advance payment, with the appointment of a consulting company within a clear scope of work to price the production of a barrel of oil in each field separately.”

He pointed out that “this agreement and amendment were presented to the regional government and received real approval from all parties,” indicating that “there are some issues that have hindered the implementation of this agreement, including the issue of the budget law and within the audit agreements between the Financial Supervision Bureaus in the federal and regional governments, where it was agreed to set the amount of refining or internal consumption at 46 thousand barrels per day, but the region is currently demanding that this amount be 65 thousand, which constitutes a violation of the budget law.”

Stressing that (almost all paragraphs were agreed upon except for this paragraph, and we hope that in the final stages the region will agree to the amount that was agreed upon within the Financial Supervision Bureau in the federal government and the region with the aim of implementing this agreement),

Abdul Ghani explained that (from our side as the federal government, the Turkish side and the Kurdish side were informed of our readiness to receive and export this amount, and I was in a meeting with the Turkish Minister of Energy, who confirmed that Ankara is ready to resume the process of exporting oil through the Iraqi-Turkish pipeline towards Ceyhan, but we are waiting for the brothers in the region to deliver this amount of oil so that it can be exported).

He continued, saying, "The federal government is now losing approximately 300,000 barrels per day, because the amount produced by the region is counted as part of Iraq's OPEC quota, even though the federal government does not benefit from this amount." On a related note, Iraq ranked 12th globally in proven natural gas reserves for 2025, according to the American magazine.

The magazine said in a report that (Russia, Iran and Qatar combined possess 51 percent of the world's proven natural gas reserves, totaling about 3.7 quadrillion cubic feet out of 7.3 quadrillion cubic feet available worldwide), and pointed out that (Iraq ranked 12th globally in proven natural gas reserves this year, amounting to 111 billion and 522 million cubic feet, which is equal to 1.61 percent of the world's reserves), adding that (Russia ranked first globally in proven natural gas reserves, amounting to 1 trillion and 688 billion and 228 million cubic feet, followed by Iran in second place with 1 trillion and 183 billion and 19 million cubic feet, and Qatar came in third with 850 billion and 98 million cubic feet).

The report continued, "The United States of America came in fourth place with the largest proven natural gas reserves, 322 billion and 234 million cubic feet, and Saudi Arabia came in fifth place with 303 billion and 284 million cubic feet of natural gas."  LINK

Iraq Opens Up To Shell To Implement Major Energy Projects.

July 12, 2025  Baghdad - Qusay Munther  Prime Minister Mohammed Shia al-Sudani affirmed that the Iraqi government is opening its doors to major international companies, most notably Shell, to implement strategic projects in the energy sector.

He emphasized that the government's vision and development plans align with the company's proposals for gas investment and modernizing the oil sector's infrastructure, serving Iraq's interests and enhancing self-sufficiency.

Investment Opportunities

A statement received by Al-Zaman yesterday said that "Al-Sudani received the Deputy CEO of Shell Oil Company, Richard Howe, and during the meeting, they discussed aspects of cooperation in the field of developing the energy sector and investment opportunities to contribute to achieving the common interest of both parties."

Al-Sudani affirmed that "the government is harnessing all capabilities and efforts to implement major projects in light of contracts concluded with international companies, especially those related to gas investment and achieving self-sufficiency in its production.

" He stressed that "Shell's proposals in the field of developing and reforming the oil sector are convergent with the government's vision and plans.

" Al-Sudani pointed out that "the government is open to cooperating with all companies that possess the technology, experience and competence, in order to implement important projects to develop the energy sector and modernize its infrastructure.

" For his part, the Deputy CEO of Shell Company affirmed that "Iraq is a mature environment for investment," reiterating "his company's keenness to develop gas investment from Basra, as well as projects to develop exploration blocks in Dhi Qar and the western region, in a way that enhances and raises the level of energy production in Iraq."

 Meanwhile, the Ministry of Electricity revealed that all administrative, technical, and logistical requirements related to the import of Turkmen gas have been completed, following the Cabinet's approval to activate the import contract.

Ministry spokesman Ahmed Moussa said in a statement yesterday that "the ministry has completed all administrative, technical, and logistical requirements related to the import of Turkmen gas to compensate for the shortage in Iranian gas."

 He continued, "The agreement was submitted to the Prime Minister's Office and received Cabinet approval at its last session."

He stressed that "the ministry is awaiting the completion of the procedures of the Commercial Bank of Iraq related to opening credit and transferring the necessary funds to purchase the gas, which will cover part of the current deficit, estimated at 14 to 15 million cubic meters, contributing to the operation of stations with a capacity exceeding 2,000 megawatts.

" He continued by saying that "the power generation stations are currently operating in a stable condition, after completing maintenance on the generating units and increasing their production capacity to the maximum."

He pointed out that "the long-term agreements concluded by the ministry have achieved their goals in ensuring the sustainability of the stations' operations.

However, the full release of gas remains the most important factor for continuing operations at optimal efficiency, as operating on alternative fuels reduces production efficiency." The Cabinet, in its last session, approved the activation of the gas supply contract from Turkmenistan to supply 14 to 15 million cubic meters per day, achieving an additional energy capacity of 2,000 megawatts.

A Comprehensive Approach

Meanwhile, OPEC Secretary General Haitham Al-Ghais predicted that the world's need for more energy will increase over the next decade. Al-Ghais stressed, on the sidelines of his participation in the OPEC International Symposium, which is being held at its headquarters in the Austrian capital, that "there is a great need to pump huge investments into the energy mix, with an emphasis on a comprehensive approach that includes the use of modern technology, reducing harmful emissions, and taking into account the needs of the oil market, especially those of non-energy-exporting countries."

He revealed that "the organization is issuing its forecast report for the first time during the organization's international symposium, as it provides forecasts on the interconnected and interrelated issues related to the development of the oil market, and provides important information that benefits policymakers, decision-makers, experts, and companies.   LINK

Iraq Ranks 12th In The World In Gas Reserves.

Energy  Economy News - Follow-up   Iraq ranked 12th globally in proven natural gas reserves by 2025, according to the American magazine CEOWorld.

The magazine stated in a report that Russia, Iran, and Qatar combined hold 51% of the world's proven natural gas reserves, totaling approximately 3.7 quadrillion cubic feet out of the 7.3 quadrillion cubic feet available worldwide.

According to the report, Iraq ranked 12th globally in proven natural gas reserves in 2025, amounting to 111 billion and 522 million cubic feet, representing 1.61% of the world's reserves.

The magazine added in its report that Russia ranked first globally in proven natural gas reserves, amounting to 1,688 billion, 228 million cubic feet, followed by Iran with 1,183 billion, 19 million cubic feet, and Qatar with 850 billion, 98 million cubic feet.

The report continued, stating that the United States of America came in fourth with the largest proven natural gas reserves, at 322 billion and 234 million cubic feet, while Saudi Arabia came in fifth with 303 billion and 284 million cubic feet of natural gas.

A quadrillion is equal to one million billion.  https://economy-news.net/content.php?id=57270

Basra crude achieves weekly gains despite lower closing prices.

energy  Economy News – Baghdad  Basra crude oil posted weekly gains as global oil prices rose, despite a decline in the final closing session on Friday.

Basra Heavy crude closed down $1.29 to $67.29 a barrel, but posted weekly gains of $1.18, or 1.78%.

Basra Medium crude also fell by $1.29 in its last session, closing at $69.11 per barrel, but recorded weekly gains of $1.28, or 1.85%.

Globally, Brent crude rose 2.5% over the week, while West Texas Intermediate crude is on track to gain about 1.6% compared to last week's close.  https://economy-news.net/content.php?id=57261

Parliament Calls On The Ministry Of Finance To Expedite The Submission Of Budget Schedules

Buratha News Agency 11920 25-07-12  The Parliamentary Finance Committee called on the Minister of Finance, Taif Sami, on Saturday to expedite sending the budget tables for the year 2025 to the House of Representatives for approval, as stated in an official document issued by the committee, “Based on the provisions of Article (77/Second) of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of the year 2023, which obligated the government to send the budget tables for the current fiscal year before the end of last year, and since the federal general budget is for three years, Article (13) of the Federal Financial Management Law No. (1) of 2019 does not address current government spending, as well as not benefiting from the emergency reserve allocations account to spend it on emergency situations that the country is likely to be exposed to until the budget tables are approved in the year / 2025.”

She added, "Therefore, we urge you to expedite the submission of the 2025 budget schedules to the Iraqi Parliament for approval, signaling the start of legal government spending and disbursement, and enabling state institutions to fulfill their obligations." https://burathanews.com/arabic/news/462645

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

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Seeds of Wisdom RV and Economic Updates Sunday Morning 7-13-25

Good Morning Dinar Recaps,

Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?

Ripple has taken a decisive step toward cementing its role in the U.S. financial system with a formal application to create Ripple National Trust Bank, a federally regulated institution aimed at strengthening the foundation for its stablecoin initiative, Ripple USD (RLUSD).

Good Morning Dinar Recaps,

Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?

Ripple has taken a decisive step toward cementing its role in the U.S. financial system with a formal application to create Ripple National Trust Bank, a federally regulated institution aimed at strengthening the foundation for its stablecoin initiative, Ripple USD (RLUSD).

Federal Trust Charter Signals Institutional Maturity

Filed with the U.S. Office of the Comptroller of the Currency (OCC) earlier this month under control number 2025-Charter-342347, Ripple’s application seeks a national trust bank charter. If approved, Ripple National Trust Bank would be headquartered in New York City at 111-119 W. 19th Street, 6th Floor, operating under charter number 25364.

Ripple is requesting trust powers, enabling the bank to offer federally supervised digital asset custody and fiduciary servicesBrian Spahn, based at Ripple’s San Francisco office, is listed as the company’s point of contact for the application. The public comment period for the application runs through August 1.

Dual Licensing: RLUSD Under State and Federal Oversight

This move reinforces Ripple’s intention to implement a dual licensing model for its stablecoin RLUSD—combining state oversight by the New York Department of Financial Services (NYDFS) with potential federal regulation via the OCC.

Ripple CEO Brad Garlinghouse emphasized the strategy on X:

“True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.”

Positioning for GENIUS Act Compliance

Ripple’s filing comes at a pivotal time as stablecoin regulation gains momentum in the United States. The GENIUS Act, recently passed by the Senate and awaiting House approval, would require stablecoins to be fully dollar-backed, subject to AML/KYC compliance, and operated under clear federal standards. Ripple’s strategic application aligns it with the upcoming regulatory framework, giving RLUSD a potential first-mover advantage under new law.

Targeting a Federal Reserve Master Account

In addition to the OCC application, Ripple’s subsidiary, Standard Custody & Trust Company, has applied for a Federal Reserve master account—a critical infrastructure move that would allow RLUSD reserves to be held directly with the Federal Reserve. This would significantly enhance the security and transparency of RLUSD’s backing and distinguish it from private-market competitors.

Garlinghouse added:

“This access would allow us to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future-proof trust in RLUSD.”

Conclusion

Ripple’s application for a national trust bank charter and pursuit of Fed access represent a watershed moment in the evolution of compliant digital assets. If approved, Ripple National Trust Bank could set a new industry benchmark for regulated stablecoins, reinforcing both investor trust and systemic credibility at a time when U.S. crypto policy is undergoing rapid transformation.

@ Newshounds News™

Source: Bitcoin.com

~~~~~~~~~

Trump Slaps 30% Tariffs on All Goods from EU and Mexico

In a dramatic escalation of trade tensions, President Donald Trump has announced sweeping 30% tariffs on all goods imported from Mexico and the European Union, set to take effect on August 1. The move, which follows failed negotiations with both trading blocs, has prompted immediate diplomatic backlash and threats of retaliation.

Trump’s Tariff Orders Target Migration, Drug Flow, and Trade Imbalances

The tariff announcements were made via two official letters posted on Trump’s Truth Social account. In the case of Mexico, the president cited the country's role in facilitating undocumented migration and the flow of illicit drugs into the United States as justification. For the EU, he pointed to what he called a persistent trade imbalance with the United States.

These new measures supersede earlier tariff rates, including:

  • A previous 25% tariff on Mexican goods announced earlier this year.

  • 20% tariff on EU imports implemented in April.

Goods imported under the US-Mexico-Canada Agreement (USMCA) are exempted from the new tariffs.

Wider Global Tariff Wave Hits 20+ Countries

This latest move is part of a broader tariff campaign initiated by the Trump administration. Earlier this week, the White House also announced:

  • New tariffs on goods from Japan, South Korea, Canada, Brazil, and others.

  • 50% tariff on copper, targeting strategic raw materials.

These actions signal a return to Trump’s aggressive “America First” trade doctrine, focusing on repatriating supply chains, combating perceived trade inequities, and targeting nations seen as non-cooperative on U.S. economic or geopolitical interests.

International Response: EU and Mexico Push Back

The reaction from both trading partners has been swift and firm.

European Commission President Ursula von der Leyen condemned the measure and signaled the EU’s readiness to respond:

“The European Union will take the necessary steps to safeguard its interests, including the adoption of proportionate countermeasures if required,” von der Leyen stated.

Despite the threat of tariffs, she also left the door open for diplomacy, saying the bloc remains willing to “continue working towards an agreement by August 1.”

Mexico, for its part, described the tariffs as “unfair,” but has yet to announce whether retaliatory actions are forthcoming.

Geopolitical and Market Implications

These tariffs may ripple across global markets already grappling with monetary tighteningcurrency volatility, and geopolitical realignments.

The timing is critical—coming as the U.S. Federal Reserve faces pressure over its interest rate stance, and as emerging economies like BRICS continue their push for de-dollarization and alternative trade alliances. With inflationary pressures still a concern and commodity prices rising, the global supply chain could face renewed disruption.

Conclusion

President Trump’s latest tariff strategy represents a significant realignment of U.S. trade priorities, setting the stage for a turbulent second half of 2025. Whether these moves will achieve the administration’s goals—or spark retaliatory economic conflict—remains to be seen.

@ Newshounds News™
Source: 
Al Jazeera   

~~~~~~~~~

US Democrats Declare “Anti-Crypto Corruption Week,” Slam Trump’s Deceptive Crypto Bills

In a sharp political escalation, Democrats in the U.S. House of Representatives have declared next week “Anti-Crypto Corruption Week,” introducing legislation aimed at blocking what they describe as corrupt, pro-Trump crypto initiatives. The announcement comes as a direct rebuke to the Republican-led "Crypto Week" agenda, which includes the GENIUS Act, the CLARITY Act, and the Anti-CBDC bill.

Waters and Lynch Take Aim at Trump’s “Crypto Grift”

On Friday, Congresswoman Maxine Waters, ranking Democrat on the House Financial Services Committee, along with Congressman Stephen Lynch, unveiled the Anti-Crypto Corruption Week resolution. They accused former President Donald Trump of using crypto legislation as a vehicle for personal enrichment and political favoritism.

“These bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself […] all while defrauding investors,” Waters stated in an official release.

The Democratic lawmakers argue that Trump and his family have exploited crypto opportunities to extract over $1.2 billion in personal gains, all while undermining consumer protection and investor safeguards.

A Direct Rebuttal to Republican-Led Crypto Agenda

The declaration of Anti-Crypto Corruption Week is timed to coincide with Crypto Week, scheduled for the week of July 14, when several major crypto bills are expected to be debated, including:

  • GENIUS Act – aimed at stablecoin regulation.

  • CLARITY Act – a market structure framework for digital assets.

  • Anti-CBDC Bill – designed to prohibit the Federal Reserve from issuing a digital dollar.

Democrats labeled these proposals as “dangerous,” claiming they serve the interests of crypto insiders and Trump’s inner circle, rather than average American consumers.

Democratic Amendments Seek to Block Crypto Bills

To counter what they see as predatory legislation, Democrats have proposed:

  • Nearly 30 amendments to the CLARITY Act to mitigate consumer harm.

  • Direct challenges to stablecoin frameworks in the GENIUS Act.

  • Objections to the Anti-CBDC Bill, citing fears it will “devastate Americans’ financial lives.”

Democrats warn that the Republican push to block a U.S. central bank digital currency (CBDC) could weaken federal oversight and empower bad actors in the crypto space.

Congressman Lynch: Republicans Are “Doing the Bidding of the Crypto Industry”

In an unusually combative tone, Congressman Stephen Lynch criticized GOP leaders for backing pro-crypto policies without addressing the risks.

“My Republican colleagues are eager to continue doing the bidding for the crypto industry while conveniently ignoring the vulnerabilities and opportunities for abuse that exist in crypto,” Lynch said.

Conclusion

The Anti-Crypto Corruption Week campaign marks a new phase in the partisan battle over crypto regulation. Democrats are attempting to cast a spotlight on what they allege is Trump-era profiteering, while Republicans continue to advocate for regulatory clarity and crypto innovation.

With the GENIUS, CLARITY, and Anti-CBDC bills poised for House consideration, the coming weeks could prove decisive for the future of digital asset policy in the United States.

@ Newshounds News™
Source: 
Coinpedia

~~~~~~~~~

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MilitiaMan and Crew:  Iraq Dinar News- Iraq's Economic Revival

MilitiaMan and Crew:  Iraq Dinar News- Iraq's Economic Revival

7-12-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

In today’s video, we dive into the fascinating world of the Iraqi dinar and its implications for Iraq's economy.

We're exploring recent honors bestowed upon the Iraq Chamber of Commerce by the International Chamber of Commerce, signifying a new era of international recognition and collaboration.

MilitiaMan and Crew:  Iraq Dinar News- Iraq's Economic Revival

7-12-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

In today’s video, we dive into the fascinating world of the Iraqi dinar and its implications for Iraq's economy.

We're exploring recent honors bestowed upon the Iraq Chamber of Commerce by the International Chamber of Commerce, signifying a new era of international recognition and collaboration.

We'll also discuss the pivotal role of the Iraq Public Prosecution Authority in maintaining economic integrity and transparency, especially in light of recent efforts by the Oil Minister to ensure the timely disbursement of contractor salaries. This is a critical step in fostering a stable environment for investment and growth.

 Additionally, we’ll break down the latest agreements between Erbil and Baghdad, which are set to enhance cooperation and stability between the Kurdistan Region and the federal government. These agreements are vital for the reconstruction and development of Iraq, paving the way for a new era of economic prosperity.

Finally, we’ll introduce the New Reconstruction Development Bloc, a significant initiative aimed at revitalizing Iraq's infrastructure and boosting economic growth through innovative projects and international partnerships.

https://www.youtube.com/watch?v=y87OLifgb9w

 

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FRANK27…7-12-25….ALOHA…..ISO

KTFA

Saturday Night Conference Call

FRANK27…7-12-25….ALOHA…..ISO

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#

KTFA

Saturday Night Conference Call

FRANK27…7-12-25….ALOHA…..ISO

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=Ov4ijP4LUes

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No Escape from Debt Collapse, We’re in the End Game

No Escape from Debt Collapse, We’re in the End Game

Commodity Culture:   7-12-2025

In a recent illuminating discussion on Jesse Day’s Commodity Culture, renowned economic commentator Alasdair Macleod painted a stark picture of the global financial landscape.

Macleod posited that numerous nations worldwide are ensnared in an inescapable debt trap, from which traditional remedies offer no solace. His startling conclusion?

The only viable path forward is through a total collapse of the current fiat currency system, an event he believes is rapidly approaching.

No Escape from Debt Collapse, We’re in the End Game

Commodity Culture:   7-12-2025

In a recent illuminating discussion on Jesse Day’s Commodity Culture, renowned economic commentator Alasdair Macleod painted a stark picture of the global financial landscape.

Macleod posited that numerous nations worldwide are ensnared in an inescapable debt trap, from which traditional remedies offer no solace. His startling conclusion?

The only viable path forward is through a total collapse of the current fiat currency system, an event he believes is rapidly approaching.

Macleod’s analysis centers on what he describes as a pervasive and unforgiving debt crisis gripping economies across the globe. He argues that this isn’t merely a temporary economic downturn but a structural flaw, where sovereign and private debts have grown to such unsustainable levels that genuine repayment or conventional restructuring is no longer feasible.

The sheer scale of indebtedness, in his view, has pushed countries into a corner with no conventional exit strategy.

For Macleod, the implications of this intractable debt are dire but clear: the current debt-based monetary system is on a collision course with its own demise.

 He asserts that governments, faced with overwhelming obligations, will inevitably resort to accelerating the printing of money, further devaluing their currencies until the entire fiat system buckles under the weight of its own debasement.

This isn’t a speculative ‘if’ but a matter of ‘when’ for Macleod, who sees the signs of this impending collapse “on the horizon right now.”

In this tumultuous scenario, gold emerges as the ultimate barometer and sanctuary. Macleod firmly believes that the rising price of gold is not primarily a reflection of the metal’s intrinsic value soaring, but rather a direct consequence of the continuous and aggressive debasement of the US dollar and other major paper currencies.

As central banks expand their balance sheets to prop up failing systems, gold serves as a vital indicator of this monetary erosion. Consequently, he views gold’s long-term trajectory as “extraordinarily bullish,” not merely as an investment, but as the quintessential “sound money” asset desperately needed as our current debt-based system approaches its “end game.”

Alasdair Macleod’s insights offer a challenging, albeit sobering, perspective on the immediate future of global finance.

His stark warning of an impending fiat currency collapse, driven by an insurmountable global debt trap, underscores the critical importance of understanding monetary policy and the role of hard assets like gold.

https://youtu.be/C5VHj5iiwUI

 

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Iraq Economic News and Points To Ponder Saturday Afternoon 7-12-25

Iraq Has About $100 Billion In Its Coffers: Withheld Reserves And Citizens Left Out Of The Equation - Urgent
 
Economy / Special Files Yesterday, | 7429 Baghdad Today – Baghdad  In a country where people's suffering is measured by the dollar exchange rate, and  where development is reduced to questions about electricity, water, and jobs,  a staggering figure stands out in international institution reports:
          $106.7 billion in Iraq's foreign exchange reserves,
          placing it third in the Arab world after Saudi Arabia and the UAE.

Iraq Has About $100 Billion In Its Coffers: Withheld Reserves And Citizens Left Out Of The Equation - Urgent
 
Economy / Special Files Yesterday, | 7429 Baghdad Today – Baghdad  In a country where people's suffering is measured by the dollar exchange rate, and  where development is reduced to questions about electricity, water, and jobs,  a staggering figure stands out in international institution reports:
          $106.7 billion in Iraq's foreign exchange reserves,
          placing it third in the Arab world after Saudi Arabia and the UAE.

But behind this glittering figure lies an unanswered question:
 
Is this money truly available to Iraqis, or
is it frozen in accounts that can only be moved with the permission of the US Treasury?
 
The truth, as confirmed by experts, is that the
     bulk of these reserves are deposited in American banks, and the
     Iraqi government can only use them within narrow margins, subject to international approval, specifically from Washington.
 
Economic expert Haider Al-Sheikh told Baghdad Today on Thursday (July 10, 2025) that cash liquidity in Iraq is "fully available, whether in dinars or dollars," noting that "foreign exchange reserves have exceeded $106 billion, while gold reserves have exceeded 163 tons, making Iraq fourth in the Arab world after Saudi Arabia, Lebanon, and Algeria."  

Al-Sheikh added,  "This abundance came after years of sharp declines during the COVID-19 pandemic,
when oil prices collapsed.
 
However, the  subsequent rise in prices and the change in the dollar exchange rate   helped rebuild the cash reserve and raise reserves to unprecedented levels."
 
Advanced ranking in the Arab region
 
According to data from the International Monetary Fund (IMF), Iraq ranked third in the Arab world in terms of foreign exchange reserves,  ahead of countries such as Libya, Algeria, Qatar, Egypt, Kuwait, and Morocco.
 
The rankings are as follows:
 
Saudi Arabia: $449 billion
UAE: $210 billion
Iraq: $106.7 billion
Libya: $80 billion
Algeria: $72 billion
Qatar: $69 billion
Egypt: $47.1 billion
Kuwait: $41 billion
Morocco: $32.8 billion
Jordan: $21 billion

A promising market on paper, but constrained in reality.
 
The sheikh points out that the  increase in reserve size gives Iraq "great economic attractiveness,"
 
making it a target for competition among major countries for investment opportunities,
     such as the United States, China, Japan, and France,
due to its vast resources and sensitive geographic location.
 
But this attraction, experts believe, is hampered by a
     fragile administrative reality, an
     unstable legal environment, and a
     volatile political climate.
 
This makes the flow of funds into Iraq a thorny process,
requiring more than hard numbers and cash reserves;
 
it requires a genuine will to reform.
 
And yet, despite these impressive figures, the question still lingers in the minds of Iraqi citizens:
 
When will state funds become tools for their service?
 
While the state is piling billions into banks abroad, the
     majority of the population is still struggling to secure the basic necessities of life,
     amid    high unemployment,   rising prices, and  deteriorating services.
 
The deeper problem is that this massive reserve,  which is supposed to be the country's safety valve,
is not actually in hand.
 
Rather, the bulk of it is deposited in foreign banks,  specifically the US Federal Reserve, and is  subject to strict controls that prevent Iraq from  using it freely or  employing it in development or emergency projects without complex international approvals.

According to observers, ultimately, any financial figure is worthless unless it is translated into living reality.
 
While the state celebrates its ranking on reserve lists,
citizens are not looking for a ranking but rather an outcome:
     Will this money be used
          to protect the dinar?
          To support prices?
          To build factories?
          To free the market from dependency?
 
Or will it remain a mere mortgaged asset,
     from which Iraqis see nothing but
          slogans of sovereignty and
          headlines in international reports?      https://baghdadtoday.news/278315-106.html 

Al-Nusairi: The Central Bank Is Leading The Banking Sector Toward Comprehensive Reform, Economic Stimulation, And Sustainable Development.
 
Uses  Economy News – Baghdad  Economic and banking advisor Samir Al-Nusairi affirmed that the  Central Bank continues to lead the Iraqi banking sector in accordance with its third strategy and its comprehensive banking reform project for the next two years,
 
based on a continuous daily work system in cooperation with international consulting and auditing companies currently operating with the aim of achieving banking reform and moving banks to a stage of contributing to stimulating the economy, revitalizing the economic cycle, achieving economic growth, and transforming banks into a lever for sustainable development.
 
Al-Nusairi explained in an interview with Al-Eqtisad News that  
in order to motivate banks and develop banking operations so they can fulfill their duties stipulated in the Banking Law and the applicable instructions and executive regulations issued by the Central Bank, and serve the national economy and customers,
 
it is necessary to carefully
     implement the reform measures outlined for them, as well as to
     re-review,   evaluate, and  classify banks.  ‘

Al-Nusairi pointed out that there are international standard criteria for classifying central banks that are agreed upon in most countries, such as
     controlling inflation,
     economic growth,
     monetary stability,
     independence, and the
     extent to which economic goals are achieved.

Since central banks are subject to classification and
since they are the ones that monitor and supervise banks, the classification of Iraqi banks must be based on international standard criteria approved in most countries,
 
the basis of which is
     compliance with international banking standards,
     enhancing financial inclusion,
     encouraging competition,
     preventing monopoly in the banking market,
     providing opportunities for shareholders and investors to obtain profitable and sustainable returns,
     accelerating digital transformation, and a   rapid transition to a solid national economy. 

He explained that the  reform, evaluation, and classification of the banking sector should be based on criteria of capital, assets, liquidity, profitability, and risk management.
 
Additional programs should be adopted that are consistent with the Iraqi reality, such as approving the banks' operating results and final accounts for the last five years,focusing on analyzing assets, revenues, expenses, capital adequacy, indicators of capital investment, cash credit granted and its sectoral distribution, ‘

The   return on capital ratio, return on assets, liquidity ratio, and the extent of banks' compliance with applicable banking instructions, particularly activating the national strategy for  bank lending to finance small and medium-sized enterprises and
applying environmental, social, and corporate governance standards.   https://economy-news.net/content.php?id=57222 

TIR Moves Iraq To Advanced Ranks In Global Trade
 
Economy   2025-07-11 | 1,478 views  confirmed The General Authority of Customs the continued successful and seamless implementation of the international TIR system at a number of border crossings,a move it described as strategic.
 
It indicated that this move will advance Iraq to advanced levels in the field of international trade.
 
The Director of Transit at the General Authority of Customs, Ihab Talib, told the official agency, followed by Sumaria News, that
 
“the Authority has begun implementing the TIR system at all Iraqi border crossings,
in coordination with the International Road Transport Union (IRU), noting that
 
“the system comes within an agreement signed with the General Company for Land Transport,
which represents the guarantor of this project.”  ‘

He added, "The implementation of this system represents a true activation of the transit system and aims to capitalize on Iraq's strategic location as a link between Europe and the Middle East."

 He added,  "The procedures are proceeding smoothly and in coordination with all relevant parties."  

He added that  the TIR system
     will contribute to Iraq's advancement in international trade and
     will help develop the transportation, technical, and logistics infrastructure sectors. He explained that
 
the project complements the Development Road Project, which the Iraqi government seeks to implement as part of a comprehensive plan to improve regional trade. https://www.alsumaria.tv/news/economy/533128/التير-ينقل-العراق-لمراتب-متقدمة-بالتجارة-العالمية

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

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 7-12-25

Good Afternoon Dinar Recaps,

Areas Where BRICS Challenges the USA — And Where It Falls Short

As the global economic balance continues to shift, BRICS—once seen as a symbolic bloc—has grown into a formidable coalition with ambitions to challenge the U.S.-led financial order. With expanded membership and an aggressive de-dollarization push, BRICS is reshaping global dialogue on trade, energy, and economic sovereignty. But does it have the cohesion and tools to match its ambitions?

Good Afternoon Dinar Recaps,

Areas Where BRICS Challenges the USA — And Where It Falls Short

As the global economic balance continues to shift, BRICS—once seen as a symbolic bloc—has grown into a formidable coalition with ambitions to challenge the U.S.-led financial order. With expanded membership and an aggressive de-dollarization push, BRICS is reshaping global dialogue on trade, energy, and economic sovereignty. But does it have the cohesion and tools to match its ambitions?

Areas Where BRICS Challenges the U.S. Dollar’s Dominance

1. De-Dollarization: A Bold Economic Agenda

At the forefront of BRICS’ economic strategy is its de-dollarization effort. Member nations are actively working to reduce reliance on U.S.-based financial systems by conducting bilateral trade in local currencies. This shift reflects a strategic priority: to strengthen domestic economies while reducing exposure to Washington’s fiscal leverage.

Local currencies first. The U.S. dollar, later.

This trend, if sustained, poses a direct threat to the dollar’s global reserve status, undermining its dominance in international settlements.

2. Strategic Control Over Global Resources

BRICS countries command a massive share of global natural resources:

  • Russia, Iran, and the UAE: Oil and natural gas leaders

  • Brazil: A global agricultural and food export powerhouse

  • South Africa: Rich in gold, platinum, and rare earth minerals

  • China: Global leader in manufacturing and rare earth supplies

If these nations settle trade in their own currencies, the U.S. dollar’s global usage could decline dramatically.

Together, this bloc represents a significant force in energy, agriculture, and mining, challenging U.S. supply chain influence.

Where BRICS Still Falls Short

1. No Real Alternative to the U.S. Dollar

Despite talk of a unified BRICS currency, no concrete monetary alternative exists. Member nations have failed to agree on a single tender, with each preferring to elevate its own national currency. As a result, they continue to rely on the U.S. dollar for international trade, especially in dealings with non-member nations.

Without a unified currency or financial architecture, BRICS remains tethered to the very system it seeks to disrupt.

2. Internal Political and Strategic Divisions

BRICS unity is often more optical than operational:

  • India and China: Ongoing border and trade tensions

  • Russia: Under sweeping Western sanctions and economic isolation

  • Egypt & Ethiopia: Limited global economic influence

  • South Africa & Brazil: Non-confrontational toward the West

  • UAE: Maintains deep financial ties with the U.S. and Europe

These geopolitical and economic fractures limit BRICS’ ability to act as a cohesive counterweight to the West, particularly in areas requiring unified policy or shared infrastructure.

Conclusion

While BRICS continues to challenge key aspects of U.S. economic dominance, the bloc’s internal divisions and lack of monetary alternatives restrict its global transformation potential—for now. However, its resource control and political momentum suggest it remains a powerful force to watch in the evolving multipolar world order.

@ Newshounds News™
Source: 
Watcher.Guru   

~~~~~~~~~

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“Tidbits from TNT” Saturday 7-12-2025

TNT:

Tishwash:  The Iraqi Chamber of Commerce was honored with the award for the best performing national committees worldwide.

The International Chamber of Commerce honored the Iraqi Chamber of Commerce with the award for the best performing national committees worldwide.

The Federation of Iraqi Chambers of Commerce stated in a statement received by the Iraqi News Agency (INA), that "in a qualitative achievement, the International Chamber of Commerce honored the Iraqi Chamber of Commerce with an award given to the best performing national committees worldwide,"

Indicating that "this honor came as a result of the efficient and effective implementation of the annual plan for the years 2024-2025, which reflects Iraq's commitment to strengthening its international position on the global trade map."

TNT:

Tishwash:  The Iraqi Chamber of Commerce was honored with the award for the best performing national committees worldwide.

The International Chamber of Commerce honored the Iraqi Chamber of Commerce with the award for the best performing national committees worldwide.

The Federation of Iraqi Chambers of Commerce stated in a statement received by the Iraqi News Agency (INA), that "in a qualitative achievement, the International Chamber of Commerce honored the Iraqi Chamber of Commerce with an award given to the best performing national committees worldwide,"

Indicating that "this honor came as a result of the efficient and effective implementation of the annual plan for the years 2024-2025, which reflects Iraq's commitment to strengthening its international position on the global trade map."

He added, "On the sidelines of the annual week, the first anniversary of Iraq's official accession to the International Chamber of Commerce was celebrated, marking an important step towards building strategic partnerships and enhancing the business environment in Iraq.

The International Chamber of Commerce was founded in 1919 in Paris, and Iraq obtained full membership in 2024.

It is noteworthy that the Federation of Iraqi Chambers of Commerce - the Iraqi National Committee of the International Chamber of Commerce (ICC Iraq) participated in the annual International Chamber of Commerce (ICC Week) in Paris, from June 17 to 20, 2025, which brought together more than 60 countries from various national committees around the world. The annual week included several activities:

1- World Trade Policy Conference.

2- World Day of National Committees Strategies.

3- Specialized workshops on arbitration topics and the agri-food initiative.

4- The annual meeting of the International Chamber of Commerce World Council.

5- Workshop on the International Entrepreneurship Center.

6- Regional meeting for West Asia and North Africa.

It is noteworthy that the Ministry of Foreign Affairs - represented by the Iraqi Embassy in Paris and the Ministry of Trade - Department of Foreign Economic Relations supported Iraq's accession to the International Chamber of Commerce and continues to follow up on the activities of the Iraqi National Committee's program for the International Chamber of Commerce.  link

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

Tishwash:  Commerce: Implementing a package of qualitative initiatives to boost the national economy.

The Ministry of Trade announced, on Friday, the implementation of a package of qualitative initiatives to advance the national economy and stimulate sustainable growth.

Ministry spokesman Mohammed Hanoun said, "The Ministry, in coordination with the Private Sector Development Council, has prioritized creating a stable and investment-friendly economic environment by addressing challenges and facilitating procedures for investors and entrepreneurs in line with the requirements of the national economy."

He added, "Based on the Iraqi government's directives to support the business environment and enhance partnerships between the public and private sectors, the Ministry of Trade, through the Private Sector Development Council and the Private Sector Development Department, continues to implement a package of qualitative initiatives and effective measures aimed at advancing the national economy and stimulating sustainable growth."

He explained that "the measures taken include strengthening channels of joint dialogue between representatives of the public and private sectors to develop practical solutions to the challenges facing the business environment, reviewing and updating commercial and regulatory legislation with the aim of simplifying procedures and stimulating local and foreign investment, in addition to launching programs to support small and medium enterprises and providing financing and training packages to support entrepreneurs."

Hanoun pointed to the possibility of supporting digital transformation and developing electronic services to facilitate commercial and investment transactions and enhance the principles of transparency and economic governance by publishing periodic reports on economic performance indicators and the business environment, creating an appropriate investment, legal, and financial climate for major partnerships, and encouraging quality investments in vital sectors. He also stressed the importance of working hard to improve Iraq's ranking in international business environment indicators by implementing global best practices in facilitating the establishment of companies and protecting investors.

Hanoun affirmed that "the Ministry of Trade is committed to supporting the private sector and empowering it to be a key partner in building a diversified and sustainable economy and achieving comprehensive economic development that positively impacts citizens' lives." He called for continued cooperation and integration between all state institutions and the private sector to create a competitive economic environment that contributes to stimulating growth and providing job opportunities. link

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

Tishwash:  Iraqi ministerial committee on Erbil-Baghdad budget issues holds first meeting

Iraq’s newly formed ministerial committee tasked with resolving outstanding disputes between Erbil and Baghdad held its first meeting on Wednesday, focusing on key financial and energy issues, including oil exports, domestic consumption, and public sector salaries in the Kurdistan Region.

The meeting, chaired by Deputy Prime Minister and Minister of Planning Mohammed Ali Tamim, brought together federal and Kurdistan Regional Government (KRG) representatives to address stalled budget transfers and oil obligations, according to a planning ministry statement. 

“A review of the two papers submitted by the federal government and the [Kurdistan] Region, where both papers addressed a number of vital topics, foremost among them the oil export file and its regulatory mechanisms, the volume of local consumption of oil products, as well as the region's delivery of the federal treasury's share of non-oil revenues, in addition to discussing the localization of Kurdistan Region employees' salaries” were discussed, the statement said. 

On Monday, a senior KRG delegation arrived in Baghdad to resume talks with federal officials over the prolonged financial dispute, which has led to repeated salary delays in the Kurdistan Region. The committee was established on Tuesday following the visit, per a directive by Iraqi Prime Minister Mohammed Shia’ al-Sudani. 

The planning ministry said the committee stressed “the importance of continuing technical and administrative discussions regarding these files with the aim of reaching quick, fair, and realistic solutions and treatments that guarantee the rights of Kurdistan Region employees, similar to their colleagues in the rest of the Iraqi provinces, within the framework of the state's unified financial policy.”

Tensions between Erbil and Baghdad flared in late May when Iraq’s federal finance ministry halted all budget transfers to the KRG, including payments for public employee salaries. The ministry claimed the KRG had exceeded its 12.67 percent share of the 2025 federal budget and failed to deliver its designated share of oil to SOMO.

The situation has been exacerbated by the ongoing suspension of oil exports through the Iraq-Turkey pipeline, which has remained offline since March 2023 following an international arbitration ruling.

The committee is tasked with aligning both sides’ demands and drafts to pave the way for a formal agreement.  link

Mot:  Ya Gotta Love ole ""Nelson""

Mot: Second Nap

 

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Weekend Coffee with MarkZ. 07/12/2025

Weekend Coffee with MarkZ. 07/12/2025

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

MZ: On Saturdays we have the CBD Gurus  first and then on to the news at the 45-minute mark.

Member: GM Mark, Mods and family! This would be a great weekend for our blessing. Praying it in.

Weekend Coffee with MarkZ. 07/12/2025

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

MZ: On Saturdays we have the CBD Gurus  first and then on to the news at the 45-minute mark.

Member: GM Mark, Mods and family! This would be a great weekend for our blessing. Praying it in.

Member: Is this our last weekend?

MZ: Most of my bond contacts think this is our last weekend. I pray it is. Overwhelming bond folks think they get their money over the weekend.

MZ: I assume with the Fednow system down they will have access on Monday. We are hoping and praying this is true.

Member: Why is Fednow down?

MZ: Because of a whole new update. Bank wires are down, many government sites are down. Many banks doing system upgrades. Even the IRS is getting a system upgrade. Between the 11th and 14th of July many financial things are getting upgrades.

MZ: We are hopeful that things are about to have a new value. This is one of the steps that needed to be completed so they can flip the switch.

MZ: My redemption center/wealth management folks are not working this weekend…nor are they on call. So for me I am not looking for an RV this weekend…but these folks have been working hard the last few weeks. I even have a Chase contact who said they have lifted restrictions on amounts of foreign currency in preparation …I loved hearing that one.

Member: Redemption folks may be extra busy soon and enjoying last weekend off.

 Member: Hearing the Fed Chair is resigning….are we seeing the end of the Fed??

MZ: We keep hearing rumors …not getting anything vetted and clear yet. We do know he wont be back after his term ends and its almost over. But my take is we might be watching the end of the Fed. We are also watching the old system kicking and screaming on its way out of the door.

Member: Chase bank has been updated earlier this year

Member: Another rumor is Trump is going to put Tatiffs on Iraq if they don't RV this weekend !

MZ: I do not believe that is true….

MZ: Lots of HCL stuff happening though.

Member: ​​Per Frank26 the HCL and oil agreements have been reached and we now are waiting on the salaries to be agreed too since it’s tied to oil. IMF is fed up and is telling Iraq enough

MZ: In Iraq: “ Among them are forgery, currency smuggling, and real estate usurpation. (CONSIOUS)opens 15 files with the Public Prosecution” They are going after old crimes from Sadaam Hussein and the Bush camp that was stealing from Iraq for years.  They are cleaning up old files.

MZ: These are things that needed settled before they revalue. I love they are cleaning things up.

Member: should go by end of this month. That's my opinion.

Member: Everyone have a wonderful weekend. See you all Monday morning.

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

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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=In7NQk9QRmA

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News, Rumors and Opinions Saturday 7-12-2025

Ariel: Iraqi Dinar Update, Status of Listed Events in July 2025

7-12-2025

Status of Listed Events in July 2025:

Basel III Endgame: Phase-in commenced July 1, 2025, with full compliance by July 1, 2028; focuses on capital requirements for large banks, increasing operational risk buffers by 9% for G-SIBs.

Trump’s Tariffs: Imposed July 9, 2025, at 30% on Iraqi non-oil imports (exempting crude oil, 98% of exports); reduced from initial 39% threat, but risks reserve drains if oil prices fall 5-10%. No “end” occurred user reference may misalign with imposition date.

Ariel: Iraqi Dinar Update, Status of Listed Events in July 2025

7-12-2025

Status of Listed Events in July 2025:

Basel III Endgame: Phase-in commenced July 1, 2025, with full compliance by July 1, 2028; focuses on capital requirements for large banks, increasing operational risk buffers by 9% for G-SIBs.

Trump’s Tariffs: Imposed July 9, 2025, at 30% on Iraqi non-oil imports (exempting crude oil, 98% of exports); reduced from initial 39% threat, but risks reserve drains if oil prices fall 5-10%. No “end” occurred user reference may misalign with imposition date.

ISO 20022: Migration for cross-border payments on track, with Swift coexistence ending November 2025; Fedwire adoption confirmed for July 14, 2025.

Fedwire: Single-day ISO 20022 implementation July 14, 2025; ends legacy formats, enabling blockchain pilots for 20% of oil settlements.

GENIUS Act (Senate): Passed Senate June 17, 2025 (68-30 vote); establishes stablecoin framework, now pending House reconciliation.

CLARITY Act (House): Advanced from committees June 2025; slated for House floor week of July 14 during “Crypto Week”; divides SEC/CFTC oversight for digital assets.

Iraq WTO 4th Meeting: Third Working Party meeting July 18, 2024; fourth delayed to Q1 2026 due to reform gaps; accession hinges on tariff bindings and anti-corruption measures.

Ripple/SEC Ends: Ripple dropped cross-appeal June 27, 2025; SEC closed meeting July 10 could finalize; $125M penalty dispute ongoing, no confirmed July closure.

Peace in Middle East: Gaza armistice January 2025; Hezbollah-Israel truce November 2024; ongoing tensions with Israeli forces in Lebanon hills; no comprehensive July breakthrough.

US Dollar Tanks / Currencies Rise: Dollar down 10% H1 2025 (worst since 1991) from debt ($35T+), tariffs, and rate cut expectations; EUR/USD at 1.17, GBP/USD at 1.37 by Q3.

Hypothetical Impact if All Events Align:

Combined pressures tariff exemptions preserving oil revenues, ISO 20022 enabling digital settlements, crypto bills boosting USD alternatives, dollar weakness lifting emerging currencies, and WTO progress could force CBI to advance a managed float to Q3 2025 for reserve bolstering; blockchain tests cover 20% transactions, positioning for subtle tweak.

Source(s):   https://x.com/Prolotario1/status/1943723602785775678

https://dinarchronicles.com/2025/07/12/ariel-prolotario1-iraqi-dinar-update-status-of-listed-events-in-july-2025/

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

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

Mnt Goat   “WHERE ARE THE 2025 BUDGET SCHEDULES? PROJECTS ARE SUSPENDED, PLANS ARE POSTPONED, AND PARLIAMENT HOLDS THE GOVERNMENT ACCOUNTABLE”   No, the RV rate in not in these budget tables as a reason to hold them up that they don’t want us to see until they are ready to RV... Again, any revaluation of the Iraqi dinar will be announced and we don’t need to go fishing through some budget tables to find it, if it could even be there...   [Post 1 of 2....stay tuned]

Mnt Goat  The House of Representatives will hold its first session of the second legislative term for 2025 on Saturday. Let’s hope they finally take up the Oil and Gas Law again. We know they will take up the issue of the Budget Tables... we still see the CBI trucking again and making movement towards its final destination of the reinstatement of the dinar to a global status (FOREX). It is like these other issues, although are very important, feel like just distractions but we know they can also affect the monetary process and should be resolved for stability. [Post 2 of 2]

Jim Rickards: Why Tariffs Work and the Lie They’ve Told for 50 Years

Daniela Cambone:  7-11-2025

Jim Rickards joins Daniela Cambone at the Rule Symposium in Boca Raton to dismantle the mainstream narrative on tariffs, trade, and the dollar's decline.

In his most candid interview yet, Rickards reveals why Trump’s tariff strategy isn’t chaos — it’s a calculated economic war plan.

 With historical precedent on his side, he argues that tariffs aren’t inflationary — they’re a catalyst for domestic manufacturing, job growth, and a stronger U.S. economy.

Rickards explains how today’s dollar decline is no accident, but a Treasury-engineered repeat of the Nixon and Plaza Accords playbook — all part of the "Mar-a-Lago Accord" now quietly reshaping the global monetary order.

He predicts $4,000 gold by year-end, with $10,000+ on the horizon, as America’s financial reset unfolds.

Don’t miss this explosive conversation that challenges everything you’ve been told about globalization, deficits, and the future of money.

https://www.youtube.com/watch?v=qNQjkmUkN6E

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Iraq Economic News and Points To Ponder Saturday Morning 7-11-25

IMF Sounds Alarm Bell Over 'Economic Collapse': Iraq Needs Reform, Not Slogans

Friday, July 11, 2025 | Economic Number of readings: 90   Baghdad/ NINA / The International Monetary Fund (IMF) warned of a dangerous financial path that threatens economic stability in Iraq, given its excessive reliance on oil revenues and rapid expansion in current expenditures, most notably salaries and pensions, amid a near-total stagnation in the non-oil sectors. This places the country at a critical economic and political crossroads.

In a detailed report, the IMF indicated that the growth rate of the non-oil sector in Iraq declined sharply from 13.8% in 2023 to an estimated 2.5% in 2024, indicating a gradual contraction of real economic activity outside of oil.

IMF Sounds Alarm Bell Over 'Economic Collapse': Iraq Needs Reform, Not Slogans

Friday, July 11, 2025 | Economic Number of readings: 90   Baghdad/ NINA / The International Monetary Fund (IMF) warned of a dangerous financial path that threatens economic stability in Iraq, given its excessive reliance on oil revenues and rapid expansion in current expenditures, most notably salaries and pensions, amid a near-total stagnation in the non-oil sectors. This places the country at a critical economic and political crossroads.

In a detailed report, the IMF indicated that the growth rate of the non-oil sector in Iraq declined sharply from 13.8% in 2023 to an estimated 2.5% in 2024, indicating a gradual contraction of real economic activity outside of oil.

According to the report, the fiscal deficit is expected to reach 7.5% of GDP in 2025, before jumping to 9.2% in 2026, driven by lower revenues and higher expenditures, particularly in the salaries and pensions file, which drain most of the budget's resources, in the absence of any corresponding production. /End   https://ninanews.com/Website/News/Details?key=1240196

Al-Nusairi: The Central Bank Is Leading The Banking Sector Toward Comprehensive Reform, Economic Stimulation, And Sustainable Development.

Banks  Economy News – Baghdad  Economic and banking advisor Samir Al-Nusairi affirmed that the Central Bank continues to lead the Iraqi banking sector in accordance with its third strategy and its comprehensive banking reform project for the next two years, based on a continuous daily work system in cooperation with international consulting and auditing companies currently operating with the aim of achieving banking reform and moving banks to a stage of contributing to stimulating the economy, revitalizing the economic cycle, achieving economic growth, and transforming banks into a lever for sustainable development.

Al-Nusairi explained in an interview with Al-Eqtisad News that in order to motivate banks and develop banking operations so they can fulfill their duties stipulated in the Banking Law and the applicable instructions and executive regulations issued by the Central Bank, and serve the national economy and customers, it is necessary to carefully implement the reform measures outlined for them, as well as to re-review, evaluate, and classify banks.

Al-Nusairi pointed out that there are international standard criteria for classifying central banks that are agreed upon in most countries, such as controlling inflation, economic growth, monetary stability, independence, and the extent to which economic goals are achieved.

 Since central banks are subject to classification and since they are the ones that monitor and supervise banks, the classification of Iraqi banks must be based on international standard criteria approved in most countries, the basis of which is compliance with international banking standards, enhancing financial inclusion, encouraging competition, preventing monopoly in the banking market, providing opportunities for shareholders and investors to obtain profitable and sustainable returns, accelerating digital transformation, and a rapid transition to a solid national economy.

He explained that the reform, evaluation, and classification of the banking sector should be based on criteria of capital, assets, liquidity, profitability, and risk management.

Additional programs should be adopted that are consistent with the Iraqi reality, such as approving the banks' operating results and final accounts for the last five years, focusing on analyzing assets, revenues, expenses, capital adequacy, indicators of capital investment, cash credit granted and its sectoral distribution, the return on capital ratio, return on assets, liquidity ratio, and the extent of banks' compliance with applicable banking instructions, particularly activating the national strategy for bank lending to finance small and medium-sized enterprises and applying environmental, social, and corporate governance standards.  631 views  https://economy-news.net/content.php?id=57222

Commerce: Implementing A Package Of Qualitative Initiatives To Boost The National Economy.

Economy | 05:20 - 11/07/2025 Mawazine News - Baghdad -  The Ministry of Trade announced, on Friday, the implementation of a package of qualitative initiatives to advance the national economy and stimulate sustainable growth.

Ministry spokesman Mohammed Hanoun said, "The Ministry, in coordination with the Private Sector Development Council, has prioritized creating a stable and investment-friendly economic environment by addressing challenges and facilitating procedures for investors and entrepreneurs in line with the requirements of the national economy."

He added, "Based on the Iraqi government's directives to support the business environment and enhance partnerships between the public and private sectors, the Ministry of Trade, through the Private Sector Development Council and the Private Sector Development Department, continues to implement a package of qualitative initiatives and effective measures aimed at advancing the national economy and stimulating sustainable growth."

He explained that "the measures taken include strengthening channels of joint dialogue between representatives of the public and private sectors to develop practical solutions to the challenges facing the business environment, reviewing and updating commercial and regulatory legislation with the aim of simplifying procedures and stimulating local and foreign investment,

in addition to launching programs to support small and medium enterprises and providing financing and training packages to support entrepreneurs."

Hanoun pointed to the possibility of supporting digital transformation and developing electronic services to facilitate commercial and investment transactions and enhance the principles of transparency and economic governance by publishing periodic reports on economic performance indicators and the business environment, creating an appropriate investment, legal, and financial climate for major partnerships, and encouraging quality investments in vital sectors.

He also stressed the importance of working hard to improve Iraq's ranking in international business environment indicators by implementing global best practices in facilitating the establishment of companies and protecting investors.

Hanoun affirmed that "the Ministry of Trade is committed to supporting the private sector and empowering it to be a key partner in building a diversified and sustainable economy and achieving comprehensive economic development that positively impacts citizens' lives."

He called for continued cooperation and integration between all state institutions and the private sector to create a competitive economic environment that contributes to stimulating growth and providing job opportunities.  https://www.mawazin.net/Details.aspx?jimare=263721

Basra Crude Prices Rise As Global Oil Market Rises

Friday, July 11, 2025 10:48 | Economic Number of reads: 222  Baghdad / NINA / The prices of Basra Heavy and Medium crude oil rose on Friday morning, with the global oil market rising.

Basra Medium crude oil recorded $71.68 per barrel, while Heavy crude recorded $68.58 per barrel, with a change of +0.42 for both.

Oil prices rose on Friday after US President Donald Trump said he would make an announcement regarding Russia, raising the possibility of imposing more sanctions on it, while concerns about tariffs and higher production from OPEC and its allies eased the gains.

Brent crude futures rose 19 cents, or 0.28%, to $68.83 per barrel by Friday morning, while US West Texas Intermediate crude futures rose 24 cents to $66.81 per barrel, an increase of 0.36%. https://ninanews.com/Website/News/Details?key=1240140

Gold Price Stability Reduces The Precious Metal's Weekly Decline.

Money and Business  Economy News - Follow-up  Gold prices stabilized after two days of gains, with traders focusing on US President Donald Trump's tariff threats and the outlook for US monetary policy.

The precious metal traded above $3,332 an ounce, after modest gains on Wednesday and Thursday that pared the weekly decline.

Trump this week proposed a package of tariffs targeting specific countries, including Canada and Brazil, with the implementation deadline postponed to August 1. He also plans to impose a large tax on copper imports.

Elsewhere, investors were assessing US interest rate expectations. Policymakers have kept borrowing costs unchanged this year, but divisions are emerging over the number of cuts likely in the second half.

San Francisco Federal Reserve President Mary Daly said she still expects two interest rate cuts, noting that the impact of tariffs on prices may be more moderate than expected. Low interest rates are typically supportive of gold.

Gold has risen more than 25% since the beginning of the year, reaching a record high of over $3,500 per ounce in April.

Trump's erratic efforts to reshape trade policies remain a constant source of concern for markets, boosting demand for safe havens amid concerns about the long-term impact on the global economy. This rally was supported by escalating geopolitical tensions and central bank buying.

Spot gold rose 0.3% to $3,332.31 per ounce at 8:32 a.m. in Singapore, while the Bloomberg Spot Dollar Index remained unchanged.  Silver and palladium prices rose, while platinum prices fell.
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