CBI Warns Of Fraud Schemes Involving Various Banknotes
Baghdad – INA The Central Bank of Iraq on Monday warned of fraud and scam operations being carried out using different types of banknotes.
In a statement received by the Iraqi News Agency (INA), the bank’s media office said it had detected several fraud schemes carried out by individuals seeking illicit financial gain, urging citizens to exercise caution to avoid falling victim to such practices.
The bank explained that the most prominent schemes observed inside Iraq include the sale of a so-called $1,000,000 banknote presented as legal tender, when in fact it is merely a non-circulating commemorative note. It stressed that the highest denomination of U.S. currency in circulation is the $100 bill.
It added that scammers are also promoting black-coated paper cut to the same dimensions as a $100 bill, falsely claiming the notes will return to circulation once the black substance is removed—an assertion the bank categorically denied.
The statement further noted that fraudsters are circulating withdrawn foreign banknotes that no longer hold any monetary value and exchanging them for Iraqi currency at inflated amounts using various deceptive pretexts.
It also warned against counterfeit or printed dollar and dinar notes marked with terms such as “specimen,” “invalid,” or similar labels, often marketed as genuine currency despite being intended only as toys or samples.
February is closing out, and MarkZ has shared his latest insights on the Quantum Financial System (QFS), the anticipated revaluation (RV), and recent geopolitical movements. From Iraqi political shifts to Venezuela's currency overhaul, investors and enthusiasts are eager for clarity.
In this post, we break down the key updates, provide analysis, and answer your pressing questions.
MarkZ February Call Highlights
1. QFS and RV Rumors
MarkZ notes a high level of disinformation in circulating rumors. Some groups suggest the QFS could launch tomorrow, while others report conflicting information.
Despite the confusion, bond and currency sources (Tier 3) expect major announcements soon, potentially within days.
Key takeaway: Stay calm and informed, as rapid rumor spikes make vetting difficult.
Featured snippet:
“Conflicting reports on QFS and RV are normal during this phase. MarkZ emphasizes patience and verification from credible sources.”
2. Iraqi Political Updates
Maliki vs. Al-Sudani: Maliki reportedly refuses to withdraw, despite pressure from the US and Saudi Arabia. Al-Sudani is expected to return, potentially ending Maliki's political career.
US Troop Movements: A significant withdrawal from northern Syria towards Iraqi Kurdistan has been observed. Possible strategic repositioning tied to Iran.
Political shifts in Iraq could accelerate QFS-related announcements if stability is achieved.
3. Venezuelan Currency Overhaul
Reports indicate Venezuela is transitioning to two types of money starting March: the new Venezuelan currencyand USD at a 1:1 rate.
Strategy may mirror Kuwait and Iraq’s currency replacements, avoiding the need for physical travel for currency exchange.
Potential for digital deposits or SKRs (safe keeping receipts) to facilitate the exchange.
Google Discover snippet:
Venezuela plans a currency transition in March 2026, simplifying exchange and aligning with USD at a 1:1 ratio.
4. Market & Financial Rumors
HCL Approval: If approved this week, RV may occur just days later.
Tariff 232: Mentioned as a possible “Plan B” to switch currency values.
Other rumors include alien disclosures, cartel wars, Iran strikes, and Epstein files—mostly distractions, but worth noting for geopolitical context.
MarkZ Member Q&A
Q1: Will we have to go to Venezuela to exchange old bolivars? A: No, exchanges may happen digitally or via SKRs in multi-currency accounts.
Q2: Does QFS need public announcement along with the asset-backed dollar for RV? A: MarkZ believes it will happen around the same time, possibly days apart.
Q3: How soon after HCL approval will the RV occur? A: Likely within a few days, according to MarkZ.
Q4: What about rumors of payments already made? A: Conflicting reports exist; some claim payments have occurred while others deny it. Verification is key.
Key Takeaways
Rumors are rampant—disinformation is expected during this time.
Geopolitical shifts in Iraq could accelerate financial announcements.
Venezuela is transitioning currencies, potentially streamlining the process for international exchange.
Patience is critical—MarkZ encourages calm and informed observation.
Conclusion
This February update from MarkZ highlights a dynamic financial landscape with potential major shifts in QFS, RV, and currency systems. While rumors fly fast, staying informed, calm, and cautious is essential.
MarkZ encourages monitoring events closely, as the situation could evolve rapidly, especially regarding Iraqi politicsand Venezuelan currency transitions.
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
Member: Good Morning…..last of February…..clock is ticking
Member: GM Mark and friends.... new week ... new hope
Member: MarkZ is really scaling us back on podcasts, maybe it’s almost time!
Member: Is today the day? I still have great hope for February…how about you Mark?
MZ: I also still have great hope for February…..there are sure a a lot of rumors running around.
Member: Friday you described yourself as bubbly and excited ....the movement of certain people has your undivided attention...so what are we waiting for now?
Member: Sure are lots of crazy rumors over the weekend..
Member: The Confusion Is Intentional & 'Could' Mean We Are Close, Very Close ...
MZ: The rumors are running crazy and obscene….They are up, down and conflicting. It is difficult to figure out what is real and what is not. We are getting different stories from different groups. To me there is a extreme level of disinformation going on.
MZ: I have a couple of bond sources that very much believe that the QFS opens completely tomorrow and we get announcements…..sounds great….right? I hope they are right.
MZ: To me its very interesting that from some of the same groups…. on the bond side some claim some have been paid….and when I reach out to some of the key people they tell me they have not been paid…so we are getting conflicting information.
MZ: What I am also hearing from some bigger bond and currency groups attached to sovereigns (Tier 3) that they have great expectations for this week.
MZ: It is only Monday morning and getting this much information and rumors is highly unusual. Stay calm…getting this many rumors at once makes vetting difficult…..so stay calm. Its odd that so many groups were told QFS releases tomorrow…and other groups were told when the QFS is live – that when they get to go…..and QFS is expected to go tomorrow…..guess we will see…..just stay calm
Member: There was so much that was prerequisite to the RV. Drip, drip, drip, flood! You are seeing it. It's all good!
Member: I wonder- does the QFS and the asset backed $ have to be announce publicly together before the RV?
MZ: I still think it will go about the same time
Member: Maliki back out this morning saying he absolutely will NOT withdraw!
Member: WHY?? Did Sudani not revalue the IDQ before the election???
MZ: “ After Tom Barack’s visit to Baghdad- did Al Sudani get the green light for a second term?” The US is definitely pushing. Evven Suadi Arabia is pushing and sent a message against Maliki’s return and is pushing for a return of Al-Sudani.
MZ: There is a lot happening this morning in Iraqi politics. We may see the end of Maliki’s political career this week….at least for now.
Member: If HCL is approved this week…will the RV immediately or wait a couple weeks or months?
MZ: I would say just days after the HCL is approved.
Member: US forces begin the largest withdrawal from northern Syria towards Iraqi Kurdistan
MZ: They are moving out- at least 100 trucks,….accompanied by air support. Some very interesting movements. Are we re-positioning these troops because of Iran? Or do we not care about Syria anymore? I think there is something deeper in these troop movements that happened all of a sudden.
Member: Mark- Friend of a friend stationed in Iraq says they are on the move and will be out of contact for 2 months
MZ: In Iraq “Central bank warns of fraud in various bank notes “ This is very interesting. They are claiming almost all the bolivar there ..they are getting inundated by bills that don’t even exist. Iraq is getting an influx of fake Venezuelan bills being sold to Iraqis.
MZ: A person on the ground in Venezuela says they had a conversation with a friend of his wife. He has high knowledge what is happening there in banking in general. He claims starting in Mrch there will only be 2 types of money in Venezuela and that they are transitioning their money. They will use US money and the new Venezuelan money….and they will be worth 1 to 1. So that is the new bolivar….nobody panic …we are watching and trying to find answers on the bolivar a lot of hold right now.
MZ: They may be handling this like Kuwait and Iraq did it. They got rid of their old currency and the new rate applies to the new currency. Kuwait did that. Iraq did that with the old Sadaam Hussein bills. Now the important part for us….if they do this…how do we exchange the old venezulan currency for the new Venezuelan dollars? There are a lot of rumors. I will let yu know what we find out when I know…..we are chasing it.
MZ: It is possible we will have to change our old bolivar for the new Venezuelan dollar…..and then exchange it for USD or whatever your national currency is at the reset.
Member; Will we have to go to Venezuelan to exchange or can we do it here in the US?
MZ: No part of me thinks any of us will have to go to Venezuela to exchange. Its possible we will be able to exchange the old bolivar for SKR’s (safe keeping receipts) or deposit it digitally . Like in a multi currency account. That would not surprise me.
Member: I believe President Trump has a State of the union speech tomorrow night.
Member: President Trump says Supreme Court "accidentally and unwittingly" gave him more power after tariffs ruling. It's all very good!
Member: “Tarriff 232” might be “Plan B” that switches the value of our currency. Bessent mentioned this .
MZ: it very much could be.
Member: Alien disclosures, cartel wars, Iran strike, Epstein files. Other than that should be a pretty slow week in the news lol
Member: Fingers crossed this is our big week……stay safe and warm everyone.
Ron the Inventor joins the stream today. Please listen to the replay for his information.
Among them is "withdrawing his candidacy"... The options for the coordination framework regarding Maliki have been revealed
Informed sources confirmed on Saturday that the forces of the Coordination Framework are planning to hold an expanded meeting to end the political deadlock by deciding on Nouri al-Maliki’s nomination for the premiership, either by keeping him or replacing him.
Sources told Shafaq News Agency that "the coordination framework, which brings together the Shiite political forces, is moving towards holding a meeting to end the political deadlock and agree on a unified position regarding the prime minister candidate."
He adds that "the current approach is to choose a figure who suits the circumstances surrounding the country and the economic and security challenges, provided that a date is set for the parliament session to elect the president of the republic, who in turn will task the framework candidate with forming the government."
He pointed out that "the meeting will address the issue of the continued nomination of the head of the State of Law Coalition, Nouri al-Maliki, or his personal withdrawal, or the framework will decide to officially withdraw his nomination and look for an alternative."
The “coordination framework,” which includes ruling Shiite political forces in Iraq, is witnessing a division over the nomination of Maliki for the next government, amid American warnings of the repercussions of his selection, which prompted forces within the coalition to try to persuade him to withdraw in order to preserve the unity of the framework.
In contrast, Maliki has declared on more than one occasion his adherence to his candidacy and believes that withdrawing from it should be done by an official decision from the framework.
The escalating American pressure on Iraq comes as a translation of President Donald Trump’s explicit threats, which included criticism of the previous course taken by Maliki when he assumed the premiership for 8 years.
On January 24, 2026, the Coordination Framework announced the nomination of Nouri al-Maliki, head of the State of Law Coalition, for the position of Prime Minister, with a majority vote from its constituent groups. link
Why the United States Still Controls Iraq’s Dollar Pipeline
Today we’re addressing a major subject that every serious Iraqi dinar observer must understand.
As highlighted by Sandy Ingram, Iraq’s oil revenue system is deeply intertwined with the United States financial infrastructure.
To understand Iraq’s monetary policy — and the future of the Iraqi dinar — you must understand where Iraq’s oil money actually goes.
Iraq’s Oil Is Priced in U.S. Dollars
Iraq sells its crude oil on global markets — and like most international oil transactions, it is priced in U.S. dollars.
Here’s how the system works:
1️⃣ Buyers purchase Iraqi crude oil 2️⃣ Payments are made in U.S. dollars 3️⃣ Those dollars are deposited into an account 4️⃣ That account belongs to the Central Bank of Iraq 5️⃣ The account is held at the Federal Reserve Bank of New York
This is what many refer to as Iraq’s “dollar pipeline.”
Why Is Iraq’s Oil Money Held in the United States?
The arrangement dates back to post-2003 restructuring and was designed to:
Protect Iraq’s oil revenue from international lawsuits
Shield funds from political interference
Ensure transparency and compliance
Prevent blackmail, seizure, or strong-arming by hostile actors
By placing the funds within the U.S. Federal Reserve system, Iraq gained
This oversight has been used at times to limit dollar flows into Iraq to prevent currency smuggling and sanction evasion.
We’re Talking About Over $100 Billion
Estimates suggest Iraq has accumulated over $100 billion in reserves.
Yes — Iraq is wealthy in terms of oil-backed revenue.
But because these reserves are largely held within the U.S. financial system, Iraq’s sovereignty is often described as partial rather than absolute.
The Geopolitical Pressure Factor
According to analysis discussed by Sandy Ingram:
Regional actors, including Iran, have pressured Iraq politically.
Iran has at times suggested Iraq is not fully financially independent.
Iraq sits between U.S. financial oversight and regional geopolitical influence.
This creates a balancing act between:
Monetary sovereignty
International compliance
Regional alliances
Sanctions enforcement
Why This Matters for the Iraqi Dinar
Understanding this system is essential for dinar watchers.
Because:
Iraq’s exchange rate stability depends on dollar reserves.
The Central Bank uses those reserves to defend the dinar.
U.S. oversight affects dollar supply inside Iraq.
Dollar shortages can pressure the parallel market rate.
In simple terms:
👉 If dollar access tightens, dinar volatility increases. 👉 If dollar access flows smoothly, stability improves.
The pipeline directly influences Iraq’s monetary flexibility.
Featured Snippet Section
🔹 Where is Iraq’s oil money kept?
Iraq’s oil revenues are deposited into an account owned by the Central Bank of Iraq and held at the Federal Reserve Bank of New York.
🔹 Can Iraq freely access its dollar reserves?
No. Iraq must comply with U.S. regulatory standards, and the U.S. can slow or restrict access if compliance requirements are not met.
🔹 Why was this system created?
To protect Iraq’s oil funds from lawsuits, seizure, political interference, and international legal claims.
Q&A Section
❓ Why doesn’t Iraq keep its oil money inside Iraq?
After 2003, international protections were needed to safeguard oil revenues from lawsuits and claims. Holding funds within the U.S. Federal Reserve provided legal and financial security.
❓ Does this mean the U.S. controls Iraq?
Not entirely — but it does mean Iraq’s financial sovereignty is partially dependent on U.S. regulatory compliance.
❓ How does this affect Iraqi dinar investors?
Dollar flow management impacts:
Exchange rate stability
Parallel market pricing
Inflation control
Central Bank interventions
Understanding the dollar pipeline helps investors interpret policy decisions more accurately.
❓ Could Iraq eventually move its reserves elsewhere?
In theory, yes. In practice, doing so would require:
International legal restructuring
Stronger independent banking safeguards
Geopolitical alignment
Such a move would be complex and highly political.
Strategic Perspective: Protection vs. Control
This system can be viewed two ways:
🔹 As protective custody of national wealth 🔹 As constrained financial independence
Both can be true at the same time.
Iraq benefits from stability within the U.S. financial system — but it also operates within boundaries set by that system.
Final Thoughts
The dollar pipeline is not a rumor. It is a structural reality of how Iraq’s oil-based economy operates in the global financial system.
For anyone serious about tracking:
Iraqi monetary reform
Exchange rate policy
Reserve levels
Dinar stability
Understanding this mechanism is non-negotiable.
Watch the reserves. Watch the dollar auctions. Watch the compliance signals.
Because the flow of dollars often tells the real story behind the dinar.
Follow for More Iraqi Dinar & Global Finance Analysis
We have a major subject to discuss today...Why the US still controls Iraq's dollar pipeline...Understanding this system is essential for anyone watching the Iraqi dinar...Iraq's oil is priced in US dollars...
When buyers pay for Iraqi crude, these dollars...are deposited into an account belonging to the Central Bank of Iraq held at the Federal Reserve Bank of New York...Iraq can request access to its dollars but it cannot move them freely without meeting US regulatory standards...The United States can slow, block or restrict access...
We're talking about over $100 billion. Iraq is a little bit wealthy! Because of this dependency...Iraq's sovereignty is only partial...Iran keeps whispering in Iraq's ears that they're not free...Part of making sure that nobody tried to sue, blackmail, strong-arm them the US put the money in the US Federal Reserve...
Cooperation conditions and potential sanctions: Baghdad returns to Washington's priorities
The United States has strongly entered the political crisis in Iraq, after explicitly linking the future of bilateral cooperation to the arms issue and the formation of the next government, in a move that indicates Washington's shift to a position of direct influence in shaping the power equation, according to the "Eram News " website.
The website stated in a report seen by Al-Sa’a Network, quoting its sources, that “what is happening in Iraq cannot be described as passing pressure or a traditional diplomatic stance, but rather it is part of an American decision to rearrange the political landscape after years of managing the crisis remotely .”
He added that "the United States, which established the political system after 2003 and sponsored its basic paths, sees today that the equation of internal balance has been disrupted in favor of a specific regional influence, so it is trying to reset the rules of the game, whether through financial tools or by linking the form of the next government to determinants related to sovereignty and weapons ."
He pointed out that "the Iraqi file has returned to the White House's priorities in light of regional tensions, US-Iranian negotiations, and the fear that Iraq will become a complete base for one axis, which Washington does not consider a strategically acceptable option ."
The report indicated that "the renewed American interest in Iraq is inseparable from a broader equation related to managing Iranian influence in the region, but Washington realizes that any direct confrontational approach could threaten internal stability ."
He pointed out that "the US administration is trying to achieve a delicate balance; it is not seeking to ignite the situation in Iraq, but it wants a government capable of controlling weapons outside the framework of the state and reducing the influence of factions on sovereign decision-making, because the continuation of this reality weakens the strategic partnership and complicates the energy, investment and security files ."
He explained that "the pressure will not be military, but will take the form of political messages and perhaps financial measures or specific sanctions, while keeping the door open for understanding with any government that provides practical assurances regarding the restriction of weapons and regulating the relationship with Iran ."
Despite the clear American influence in shaping the equations of governance in Iraq during the past years, the last few months have witnessed a broader and more diverse involvement, not limited to the issue of weapons or the formation of the government, but extending to sensitive economic and financial files, including mechanisms for dollar transfers, regulating the banking sector, and controlling the movement of funds related to foreign trade link