State of the Union: Egypt’s Banque Misr was given 30 days before it is cut from the dollar system. The post Iran War Day 183: Bessent Announces First New Sanctions for ‘Operation Economic Outcast’ appeared first on The American Conservative .
The United States Treasury announced plans Friday to cut a major Egyptian bank’s branches in the United Arab Emirates out of the dollar system as part of “Operation Economic Outcast,” the new sanctions campaign against Iran. Banque Misr, Egypt’s second-largest bank, has 30 days before the new rule revoking correspondence rights with American financial institutions for its UAE operation comes into effect. “Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” said Treasury Secretary Scott Bessent in a department press release . “We also warned that Iran’s enablers cannot continue to enjoy access to the U.S. dollar and the global financial system. Banque Misr…Open
Treasury Department Grants Banking Charter To Witkoff, Trump Family-Owned Crypto Firm
AI:The Treasury Department has officially granted a banking charter to World Liberty Financial, the cryptocurrency venture closely tied to the Trump family and Witkoff Group. This move signals a massive pivot in federal financial oversight, effectively bypassing traditional regulatory hurdles to allow shadow-banking entities with deep political connections to enter the mainstream financial system. While leftist media outlets continue their predictable dance of ignoring these massive shifts in monetary control, this development represents a fundamental restructuring of how digital assets interface with federal banking standards under the current administration's influence.Open
We are at war with Iran. Meanwhile, we are supplying Iran with hard cash to keep it afloat. This is how it works. Ever since 2003, the U.S. Federal Reserve has been shipping pallets of cash to Iraq. Iraqi oil revenues are typically deposited into the Federal Reserve Bank of New York, and in exchange, because Iraq’s economy is heavily cash-based, we send physical U.S. currency to the Central Bank of Iraq. We send a lot of cash, sometimes as much as $13 billion a year. Once in Iraq, a substantial portion of this money is diverted or smuggled into Iran, particularly through Iran-backed militias and informal networks. These pro-Iranian groups access the cash via auctions, banks, fake invoices, and prepaid debit card schemes. Once physical…Open