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Thursday, October 30, 2025

BREAKING NEWS!!!: 💥 Iraqi Dinar Shake-Up: Could 1 Dinar = 1 USD? 💥

💥 Iraqi Dinar Shake-Up: Could 1 Dinar = 1 USD? 💥

Video Highlights:
🔥 Discussion on the controversial proposal to cancel the Iraqi currency auction.
💲 Current exchange rate: 1,560 dinars per USD and high fluctuations.
🌍 Most neighboring countries and global economies do not use currency auctions, keeping stable currencies.
🏛️ The auction was set up during the U.S. occupation as a temporary wartime measure.
⚠️ The auction system enables money laundering and capital flight, worsening economic instability.Read also: "EXCHANGING FOREIGN CURRENCIES AND REDEEMING ZIM BONDS PROCESS"


🤝 Proposal to back the new Iraqi dinar with major international central banks (ECB, Bank of England, U.S. Fed).
💡 Goal: peg the new dinar at 1:1 with the USD, allowing all transactions in dinars without needing dollars.
⏳ Transition could take up to six months, but would bring stability, sovereignty, and alignment with neighbors (like UAE with its dirham).

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Highlights Summary (in English):

  • Discussion begins with a proposal to cancel the currency auction.

  • One speaker notes that this idea seems to have caused concern or fear.

  • The most important part of the program mentioned is the  printing of a new Iraqi dinar, valued at 1 new dinar = 1000 old dinars.

  • The participants confirm this idea, asking whether it’s correct or not.

  • Then, they question what the alternative to the currency auction would be.

  • An example is given: an importer wanting to buy U.S. dollars — asking where they could get them under the new system.

  • The explanation continues about how banks would handle currency exchange in the proposed plan.

    • The current exchange rate of the Iraqi dinar is around 1,560 dinars per U.S. dollar.

    • The speaker notes that neighboring countries do not have a currency auction system, and in fact, most countries worldwide don’t.

    • The currency auction in Iraq was originally created by the Americans during the post-war period to stabilize and control the economy temporarily.

    • The U.S. forces withdrew in 2011, and the auction was supposed to end in 2012.

    • However, certain political parties chose to keep it, realizing that the auction system was financially profitable(“it had good bread in it,” meaning it was lucrative).

    • Therefore, the continuation of the currency auction is not due to economic necessity, but rather political and financial interests.

    • There’s a concern that the currency auction enables money laundering and capital flight.

    • In contrast, countries like Jordan, Saudi Arabia, Kuwait, and the UAE have no currency auction systems, since their currencies are stable and supported.

    • Their local currencies are backed by strong economic or institutional guarantees.

    • The economic proposal being discussed suggests an agreement with major central banks — the European Central Bank, the Bank of England, and the U.S. Federal Reserve —
      to make the Iraqi dinar supported by these international institutions.

    • This would be a complex and lengthy process, expected to take about six months.

    • Once completed, the goal is for the new Iraqi dinar to be backed and pegged — ideally with a fixed value (1 new dinar = 1 U.S. dollar).

    • After the proposed six-month transition, 1 new Iraqi dinar would be equal to 1 U.S. dollar.

    • So, if someone carries 10 dinars, it would equal 10 U.S. dollars in value.

    • This idea is not a currency redenomination (not “removing zeros”), but rather a global support and backing plan for the Iraqi dinar.

    • If the dinar becomes internationally backed by major central banks, it would be recognized and stable worldwide.

    • Example: in Europe, one could pay 100 dinars directly without converting to dollars.

    • For importers, once the new backed currency is issued, all contracts and trade deals could be conducted in dinars, eliminating the need for U.S. dollars.

    • Similar to how the UAE conducts all business in dirhams, Iraq would conduct business fully in dinars.

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