The End of Dollar Dependence or the Beginning of Censorship? The National Payments Project Raises the Question of "Financial Sovereignty"

[RJG]

economy Yesterday, 23:10 | 2874

 

 

The End of Dollar Dependence or the Beginning of Censorship? The National Payments Project Raises the Question of "Financial Sovereignty"

 

Baghdad Today - Baghdad

In a pivotal step toward internal monetary independence, the Central Bank of Iraq (CBI) issued an official circular to all banks and electronic payment service providers announcing the commencement of the implementation of the National Card Scheme project. This is a local payment system managed through the national switchboard, completely separate from international platforms such as MasterCard and Visa. The decision comes at a particularly sensitive time, following the Popular Mobilization Forces (PMF) salary crisis and sanctions imposed on several banks, amid indications that Iraq is shifting to a relatively closed monetary environment in the face of external pressures.

A national system excludes international companies.
According to a circular obtained by Baghdad Today , the Central Bank has ordered the launch of a local system for settling bank card payments within Iraq, without going through any international entity. The circular clarified the need to adopt national codes such as (BIN) and (AID) to identify payment cards and link them to the national switchboard, which implicitly means eliminating any reliance on global payment networks such as Visa and MasterCard in local transactions. The circular emphasized that this project is "exclusively local" and that it will be completed by the end of this year, in preparation for its official adoption starting early next year.

Motives behind the decision: From sanctions to mobilization.
Banking expert and former Central Bank official Mahmoud Dagher told Baghdad Today that "the decision is partly linked to international sanctions and some pressure on Iraqi banks, so an alternative internal system is being considered."

He added, "Iraq faces no legal or technical obstacles to establishing this type of system, and many countries have preceded us in this," but he explained that "local systems remain limited and cannot be used outside the country's borders."

It's worth noting that the decision came after the Popular Mobilization Forces' salaries were frozen at some banks linked to international payment systems, opening a new door for the Central Bank to restructure its payments infrastructure away from international political influence.

Monetary shift or financial isolation?
The new approach coincides with escalating tensions between Baghdad and Washington, and with the mounting pressure on major Iraqi banks accused of financing entities sanctioned by the US. In this context, the Central Bank appears to have decided to proceed with a project that protects the domestic market from any "potential political freeze." However, this option, despite its importance in terms of sovereignty, raises questions:

Is it possible to actually dispense with global payment systems?
Is Iraq structurally prepared to operate a closed system capable of meeting domestic demand?
Most importantly, does this project pave the way for a gradual financial decoupling from the dollar?

The National Card Scheme project is not merely a technical decision regarding banking infrastructure; it is a step with political, economic, and security dimensions. If completed by the end of the year as planned, Iraq will have taken its first steps toward "internal monetary independence." However, this remains conditional on the state's ability to ensure efficiency, prevent collapse, and build confidence in a system that has yet to be tested in a fragile economic reality.

Source: Baghdad Today + Agencies 

https://baghdadtoday.news/277819-.html

[64jaguar]

TRADFI dinosaurs still exist! Imo, the dollar will maintain it's dominance Worldwide by the use of Stablecoins like Ripple's RLUSD and Circle's USDC coins all backed by the U.S. dollar. TRADFI is dying. Stablecoins and digital currencies will level the playing field Worldwide. While using these dominant stablecoins, RLUSD and USDC in a roundabout way you're using the U.S. Dollar. 

Once the financial system flips it won't be difficult to access the system. I can't imagine a closed system would survive very long.

[ametad]

Sounds like a positive development. Having an internal or national banking system that operates will always be beneficial.

[horsesoldier]

... still more verbal diarrhea 

[Laid Back]

“the Central Bank has ordered the launch of a local system for settling bank card payments within Iraq, without going through any international entity. The circular clarified the need to adopt national codes such as (BIN) and (AID) to identify payment cards and link them to the national switchboard, which implicitly means eliminating any reliance on global payment networks such as Visa and MasterCard in local transactions. The circular emphasized that this project is "exclusively local" and that it will be completed by the end of this year, in preparation for its official adoption starting early next year”

 

Moving along to 2026 >>>

[steveh12]

Wait until next year!

Sounds like a sports team!😁

[keylime]

August 2026?...2027...202.....?

[md11fr8dawg]

August for sure???

[64jaguar]

22 hours ago, Laid Back said:

“the Central Bank has ordered the launch of a local system for settling bank card payments within Iraq, without going through any international entity. The circular clarified the need to adopt national codes such as (BIN) and (AID) to identify payment cards and link them to the national switchboard, which implicitly means eliminating any reliance on global payment networks such as Visa and MasterCard in local transactions. The circular emphasized that this project is "exclusively local" and that it will be completed by the end of this year, in preparation for its official adoption starting early next year”

 

Moving along to 2026 >>>

 

I'm thinking something unprecedented is about to occur in IRAQ. They are in the position of having or at least wanting to break away from Dollar dominance and a revaluation of their own currency would be a necessity but we're also on the verge of flipping the Financial system to a digital one. If they want to be independent they'll have to develop a CBDC or at least use Stablecoins. Essentially, they could create their own Stablecoin instead, it would function like a CBDC. That's what the U.S is doing. Trump declared that in the U.S. there won't be a CBDC. The U.S. will use RLUSD and /or USDC as the digital dollar. Stablecoins are just like CBDC's, so we'll have a sort of CBDC without actually calling it one. XRP can move anything cross border involving payments. Even Gold and Cash, basically anything. 

IMO once IRAQ either develops a CBDC or it's own Stablecoin it will be independent of the U.S. Dollar. It can't be worthless as it is now! Moving money cross border may involve Dollar backed Stablecoins like RLUSD and /or USDC but the digital Dinar will have to have value IMO.

I'm just speculating of course, and just my opinion. 

 

 

[64jaguar]

12 minutes ago, 64jaguar said:

 

I'm thinking something unprecedented is about to occur in IRAQ. They are in the position of having or at least wanting to break away from Dollar dominance and a revaluation of their own currency would be a necessity but we're also on the verge of flipping the Financial system to a digital one. If they want to be independent they'll have to develop a CBDC or at least use Stablecoins. Essentially, they could create their own Stablecoin instead, it would function like a CBDC. That's what the U.S is doing. Trump declared that in the U.S. there won't be a CBDC. The U.S. will use RLUSD and /or USDC as the digital dollar. Stablecoins are just like CBDC's, so we'll have a sort of CBDC without actually calling it one. XRP can move anything cross border involving payments. Even Gold and Cash, basically anything. 

IMO once IRAQ either develops a CBDC or it's own Stablecoin it will be independent of the U.S. Dollar. It can't be worthless as it is now! Moving money cross border may involve Dollar backed Stablecoins like RLUSD and /or USDC but the digital Dinar will have to have value IMO.

I'm just speculating of course, and just my opinion. 

 

 

I know this thread is talking about some sort of internal banking system that would hope to separate IRAQ somehow from the world financial systems. IMO it's a pipe dream by the TRADFI dinosaurs. Once the Digital Financial system is fully turned on nobody will use the old system. Even IRAQ wouldn't like it because the corruption would continue. Blockchain is Totally Transparent. Corruption halted, Imo

[horsesoldier]

14 hours ago, keylime said:

August 2026?...2027...202.....?

I'm watching Blade Runner 2049...you miss it if you're not paying close attention...it's a reference to the IQD: ...🤣

[screwball]

On Tuesday, July 15, 2025, at 03:33 UTC, Operation Chrysalis goes live. Treasury nodes will switch from mirrored to primary control, which will make all old banking rails read-only. If a payment processor doesn't handshake within the first 11 milliseconds, its ledger will be frozen until a manual audit clears it.

· Wednesday, July 16: The Global Broadcast Grid finishes its lattice swap. You won't see anything on TV, but the carrier frequency behind every network will go up from 60 Hz to 432 Hz. That spike proves that the EBS beacon is locked. The final countdown for the media blackout starts when the checksum settles down.

· On Thursday, July 17, Continuity of Government sends the list of sealed indictments to Tier 1 nodes. Only military, certain courts, and Whitelist wallets will be able to see the packet right now. The list will push in blocks of 17 KB each that are quantum-sealed and can't be faked or delayed. When the last block lands, arrest warrants start to move.

· Friday, July 18—Rainbow Take note of the liquidity paths that Tier 2 commerce hubs can use. Each country that takes part gets its first draw in twelve-hour chunks. Fiat leaves in the same heartbeat. Don't wait for the news to confirm it; the change in value shows up first in energy prices, then in food prices, and finally on mainstream tickers.

· Saturday, July 19 – The first civilian Med Bed hubs open at 0700 local time in all twenty-four launch zones. War casualties, children, and people who are dying are still the most important. The registration backlog must be cleared by sunset, or the triage AI will take over regional scheduling. If you miss the scan window, you will have to wait until Phase 2.

I won't post these times again. Make copies of them. Learn them by heart. Get ready for the flash packet that will close all open gates in one pulse. After that, there was nothing but silence until the Jubilee broadcast.

 

Not long to put this to bed one way or another
 

[screwball]

well lots of things happening, crypto week july 14-18th

 

ISO 20022 goes live and xrp is the stable coin of choice....

 

crytpo legislation gets introduced to the house.....

 

and i remember seeing an interview with a UK banking dude who said both ledgers were going to merge also around july 14th.....

 

also post suggesting something big is coming...who knows what it is....enjoy the show.

[Shedagal]

1 hour ago, screwball said:

On Tuesday, July 15, 2025, at 03:33 UTC, Operation Chrysalis goes live. Treasury nodes will switch from mirrored to primary control, which will make all old banking rails read-only. If a payment processor doesn't handshake within the first 11 milliseconds, its ledger crypto wallet" rel="external nofollow">ledger will be frozen until a manual audit clears it.

· Wednesday, July 16: The Global Broadcast Grid finishes its lattice swap. You won't see anything on TV, but the carrier frequency behind every network will go up from 60 Hz to 432 Hz. That spike proves that the EBS beacon is locked. The final countdown for the media blackout starts when the checksum settles down.

· On Thursday, July 17, Continuity of Government sends the list of sealed indictments to Tier 1 nodes. Only military, certain courts, and Whitelist wallets will be able to see the packet right now. The list will push in blocks of 17 KB each that are quantum-sealed and can't be faked or delayed. When the last block lands, arrest warrants start to move.

· Friday, July 18—Rainbow Take note of the liquidity paths that Tier 2 commerce hubs can use. Each country that takes part gets its first draw in twelve-hour chunks. Fiat leaves in the same heartbeat. Don't wait for the news to confirm it; the change in value shows up first in energy prices, then in food prices, and finally on mainstream tickers.

· Saturday, July 19 – The first civilian Med Bed hubs open at 0700 local time in all twenty-four launch zones. War casualties, children, and people who are dying are still the most important. The registration backlog must be cleared by sunset, or the triage AI will take over regional scheduling. If you miss the scan window, you will have to wait until Phase 2.

I won't post these times again. Make copies of them. Learn them by heart. Get ready for the flash packet that will close all open gates in one pulse. After that, there was nothing but silence until the Jubilee broadcast.

 

Not long to put this to bed one way or another
 

Works for me.  Hopefully an RV in there somewhere.

[3n1]

to be honest screwball that all reads like a sci-fi movie script at what point does the iqd breakout ..... 

[sharkcatcher]

Agree, Have no idea what that means...

[Shedagal]

5 hours ago, 3n1 said:

to be honest screwball that all reads like a sci-fi movie script at what point does the iqd breakout ..... 

 

22 minutes ago, sharkcatcher said:

Agree, Have no idea what that means...

@screwball will respond to this.  In the meantime, some thoughts.  Assume this - were have been operating under a Continuity of Government (which Trump did at end of 2019) with military in charge.  Along with this, development of blockchain and QFS has been in the works (NESARA).  Once the QFS is activated (with possibly a concurrent blackout - EBS), there will be mass arrests.  All banks will switch to the QFS and a new currency note will be introduced.  Medbeds is a technology for diagnosis and cure of disease (think Star Trek).  Sci-fi enough?!?

  

[Shedagal]

Add to that the thought that a basket of RV's is supposed to occur at the start of the QFS (with no taxes).

[screwball]

11 hours ago, screwball said:

On Tuesday, July 15, 2025, at 03:33 UTC, Operation Chrysalis goes live. Treasury nodes will switch from mirrored to primary control, which will make all old banking rails read-only. If a payment processor doesn't handshake within the first 11 milliseconds, its ledger crypto wallet" rel="external nofollow">ledger will be frozen until a manual audit clears it.

this could have to do with xrp and swift and switch to ISO 20022 around July 14th?? digital??? what happens if XRP, Swift are all part of the QFS? 

 

11 hours ago, screwball said:

If a payment processor doesn't handshake within the first 11 milliseconds, its ledger crypto wallet" rel="external nofollow">ledger will be frozen until a manual audit clears it.

key words "payment processor"??? payment system?

 

11 hours ago, screwball said:

That spike proves that the EBS beacon is locked. The final countdown for the media blackout starts when the checksum settles down.

media blackout? does this also mean power blackout.....just think back to when under TRUMP they siezed a Transformer at the docks and later found out that all these Chinese imported transformers have a back door??? 

 

11 hours ago, screwball said:

Friday, July 18—Rainbow Take note of the liquidity paths that Tier 2 commerce hubs can use. Each country that takes part gets its first draw in twelve-hour chunks. Fiat leaves in the same heartbeat. Don't wait for the news to confirm it; the change in value shows up first in energy prices, then in food prices, and finally on mainstream tickers.

this has to do with countries switching over to QFS and XRP/SWIFT etc.....my opinion off course not sure only thing I know is july 14th and XRP/Swift/ISO 20022 go live!

[screwball]

as for Iraq are they in the first batch???? could be not long to find out!

[screwball]

11 hours ago, screwball said:

Treasury nodes will switch from mirrored to primary control, which will make all old banking rails read-only. If a payment processor doesn't handshake within the first 11 milliseconds, its ledger crypto wallet" rel="external nofollow">ledger will be frozen until a manual audit clears it.

interesting....what do you all think this suggest??

[Shedagal]

9 minutes ago, screwball said:

interesting....what do you all think this suggest??

Supposedly . . . There are codes from Interpol that will be entered to switch to the QFS.  I guess if there's a problem, a manual audit will be done.  Just a guess.

[screwball]

one thing to watch for is if we see a merger of public and private ledgers on the or around the 14th which means before or after and watch for a spike in price on xrp, we know xrp is the chosen stablecoin for all swift transfers and we know BOA was already trading using xrp before the SEC case, with this being finalised we could see a massive spike in price...

[3n1]

13 minutes ago, screwball said:

interesting....what do you all think this suggest??

cant even wrap my head around it to be honest ... Quantum Financial System  , Secret cure-all Medbeds , Treasury nodes , media blackouts , when will the current banking system know about all this massive shift fixing to occur i have close relative in banking doesnt know diddly about all this instant banking switch and all this to happen by july 19th ,, is all this stuff you factual know or just stuff you copy and past , all that said i like u SB not trying to judge or belittle in any way maybe i just live in a little simple world with a simple mind ... cheers 

[screwball]

8 minutes ago, 3n1 said:

cant even wrap my head around it to be honest ... Quantum Financial System  , Secret cure-all Medbeds , Treasury nodes , media blackouts , when will the current banking system know about all this massive shift fixing to occur i have close relative in banking doesnt know diddly about all this instant banking switch and all this to happen by july 19th ,, is all this stuff you factual know or just stuff you copy and past , all that said i like u SB not trying to judge or belittle in any way maybe i just live in a little simple world with a simple mind ... cheers 

nah just stuff I find interesting....I posted it because some parts of it are quite relevant to whats happening with swift,xrp and iso 20022......as for the rest I have not made comment on. Not my intel....nodes and networks switch and rails are quite relevant if switching to a new communication protocol like ISO 20022. We know swift and xrp have done deals...articles are out there!