Evening, family. Iraq is reportedly targeting 1,550 dinars to the dollar on the parallel market, and $3 billion is sitting waiting to come in, with the delay tied to the rise in the exchange rate. Up north, PM Barzani sat down with a delegation representing more than 30 US companies, and the KRG reaffirmed its 14.14% population share in the 2027 federal budget. On the banking side, 5 of the 10 largest US banks have slid into bear-market territory, and a federal audit says the big banks cut off customers over their beliefs. Plus a 3.6% Social Security COLA for 2027, and a Frenchman's warning to Americans. Here's everything on the desk.
Iraq & the Dinar
- Iraq targets 1,550 dinars per dollar in the parallel market — Channel 8
- $3 billion is waiting to arrive — the delay is tied to the exchange rate rise — Al-Mada (Arabic)
- PM Barzani meets a delegation representing more than 30 US companies — Kurdistan24
- KRG reaffirms its 14.14% population share in Iraq's 2027 federal budget — Kurdistan24
Money & Markets
- 5 of the 10 largest US banks have entered bear-market territory, and the KBW Nasdaq Bank Index is down 15.6% from its peak — The Macro Paper on X
- Too conservative for Chase? Federal audit says big banks cut off customers over their beliefs — The Gold Report
Home Front
- Social Security announces a 3.6% cost-of-living boost to payments in 2027 — The Epoch Times
- “I come from your future”: a Frenchman's warning to all Americans voting Democrat — ZeroHedge
Links are shared for discussion. Not financial advice — always do your own research.