FIREFLY & FRANK26: 💹 Iraq Dinar RV Update: JPMorgan Support & CBI Monetary Reforms in Motion
⚠️ Disclaimer
This article provides analysis and reporting based on publicly shared information. It is not financial advice. Readers should verify details and consult professional advisors before making investment decisions.
📰 Frank26 Boots-On-The-Ground Update
Timeframe: 15–17 days of continuous developments
Frank26 reports an intense period of activity at the Central Bank of Iraq (CBI), with multiple key actors participating in what is being described as historic banking reform.
Highlights:
Jamie Dimon, CEO of JPMorgan Chase, publicly acknowledges supporting Iraq’s monetary reform.
Meetings with Iraq’s Prime Minister show JPMorgan’s willingness to provide expertise in banking modernization.
CBI oversight includes international organizations: US Treasury, BIS, WTO, IMF, all observing reform execution.
💡 Jamie Dimon Steps into the Spotlight
Previously, JPMorgan’s role in Iraqi banking reform was largely behind the scenes. Frank26 emphasizes:
“Jamie Dimon decided to come out of his spider hole and admit to the world what he's been doing with Iraq is helping them with their monetary reform.”
Key takeaways:
JPMorgan expertise is being used to strengthen Iraq’s banking system
Transparency is increasing, with public acknowledgment of international collaboration
Signals that monetary reform is moving from planning to execution
🏦 Central Bank of Iraq: Devalued Dinar Phase Ending
FIREFLY shares details from the CBI:
The 2020 dinar devaluation was a temporary economic fix for inflation control.
The devalued dinar phase is coming to a close.
New economic opportunities beyond oil are being deployed to strengthen the Iraqi dinar.
The CBI will pull the devalued dinar out of circulation in the near future.
This action is expected to increase the stability and value of the Iraqi dinar ahead of potential FOREX normalization.
🌊 Riding the Wave: Recent Momentum
Frank26 notes an extraordinary period over the past 2–3 weeks:
Al-Sudani openly bragged about reform progress
Ali Al-Alaq (CBI) confirmed ongoing execution of White Paper and banking reforms
President Saleh publicly acknowledged steps forward
International observers on-site at CBI’s 8th floor monitoring every stage
“15, 16, 17 days we've been riding a wave… Surfs up… We've been riding a wonderful experience.”
This suggests real-time operational progress, not just planning.
🔑 Key Takeaways
International Oversight: U.S. Treasury, IMF, WTO, and BIS actively monitoring Iraq’s reforms.
JPMorgan Support: Provides technical guidance and credibility.
Monetary Reform in Action: Devalued dinar will soon be withdrawn, and the Iraqi dinar will be strengthened.
Sustained Momentum: Government officials publicly acknowledging progress.
This combination of domestic execution and global oversight indicates serious steps toward RV readiness.
📌 Featured Snippet (Quick Summary)
Iraq’s Central Bank is executing monetary reforms with international oversight, JPMorgan support, and the planned withdrawal of the devalued dinar. Public acknowledgment by government officials indicates a historic wave of banking reform is underway.
❓ FAQ
Q1: Has JPMorgan officially joined Iraq’s monetary reform? A1: Yes. CEO Jamie Dimon publicly confirmed JPMorgan’s advisory role.
Q2: Is the devalued dinar still in use? A2: It is being phased out. The CBI plans to replace it to strengthen currency stability.
Q3: Are international organizations involved? A3: Yes. IMF, BIS, WTO, and US Treasury are monitoring reforms on-site at the CBI.
🔗 References & Sources
Boots-on-the-ground report: Frank26
FIREFLY report on CBI monetary reform
Public statements from Jamie Dimon, Al-Sudani, Ali Al-Alaq, President Saleh
FIREFLY:On TV they are showing Jamie Dimon the CEO of JPMorgan Chase. Recently he had a meeting with Iraq's prime minister...He is supportive of Iraq's banking reform and is open to providing some help and expertise from JP Morgan's side.
FRANK: Jamie Dimon decided to come out of his spider hole and admit to the world what he's been doing with Iraq is helping them with their monetary reform? ...We already knew you have been helping the central bank of Iraq with the monetary reform for a very long time buddy...We knew you were lying to us... Now Jamie Dimon tell you employees to stop lying to us American citizens...
Frank26 : 15, 16, 17 days we've been riding a wave... Surfs up...We've been riding a wonderful experience...It has been unbelievable the stuff we share with you...You have Sudani yesterday bragging all day. You got Alaq two, three days in a row. Saleh came out bragged. You got the United States Treasury, BIS, WTO and IMF all sitting there in the 8th floor of the CBI bank watching everything they're about to do... monitoring everything.
FIREFLY: The CBI explained today how they devalued the dinar in 2020 as a quick fix to the economy and inflation...Economic opportunities other than oil to strengthen the dinar have been put in position...They said the stoppage of using the 'devalued dinar' they'll look towards their monetary reform and that action will strengthen the Iraqi dinar. The CBI is pulling out in the near future using the devalued dinar.