Iraq's Central Bank has told every bank in the country it may not deal in dollars with the International Development Bank “in any form”, and the bank must close its foreign-currency accounts by the end of October.
In the same week, governments across Europe pulled websites offline over a software flaw found with the help of AI, and major US banks were reported to be finding outside AI agents inside customer accounts.
The tell
Washington designated the bank on October 15, saying it was set up to supply Iran with dollars. Mahmoud Dagher, who speaks for Iraq's Central Bank, says the bank was cut off from dollars more than 2 years ago and calls the new order the normal step any central bank takes after US Treasury sanctions. The bank's management rejects the accusations.
What moved this week
- The street — Baghdad closed Thursday at 169,500 IQD for $100, against the bank's 152,000.
- The border — the Al-Sheeb crossing with Iran stays shut. Truck drivers protested on Thursday, and the government says every other crossing with Iran is open.
- The attacks — two flaws in PHP, the software behind about seven in 10 websites, rated 9.2 out of 10, took down sites including the Netherlands' national login. AI agents broke into about 100 companies for around $5,000 in computing costs.
- The rails — the clearing house behind Wall Street has its full tokenization launch set for this month, and the US bank regulator says its stablecoin rule comes “in the very near term”.
The question
Old pipes are closing in Baghdad while the rest of the system is pushed toward new rails. Is the AI threat the reason for a reset, or the cover for it, and what does it mean for the IQD you hold?
Credit: Written by Reset Intelligence — David E. Atterton, author of Head of the Snake (@EXIT_FIAT). Read the full briefing: Old Pipes, New Rails
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