One of the most common questions in the dinar community is whether Iraq must have a fully formed and completed government before the dinar rate can change. In his latest commentary, Jeff directly addresses this issue, offering insight into caretaker governments, Central Bank autonomy, and recent international recognition events.
As always, this perspective represents analysis and opinion, not financial advice.
⚠️ Disclaimer
All information shared is opinion-based and for educational purposes only. Political and monetary decisions can change at any time. Always consult a qualified professional before making financial decisions.
The Big Question: Does Iraq Need a Fully Formed Government?
Caretaker Government Explained
Jeff explains that while Iraq’s government is still forming, it operates as a “caretaker government.”
This means:
Limited authority
Restricted access to government funds
Inability to pass major legislation or budgets
However, this limitation applies to the government, not the Central Bank of Iraq (CBI).
CBI Autonomy: Why It Matters
The Central Bank Is Independent
According to Jeff:
The CBI is autonomous
It is separate from the physical government
It does not require parliamentary approval to adjust the currency value
“The Central Bank can change the value of the currency whenever they want.”
This distinction is critical and often misunderstood.
🌍 Featured Snippet: Can the Dinar Rate Change Without a Government?
According to Jeff, there is no verifiable requirement that Iraq must have a fully formed government before the dinar rate can change. The CBI operates independently, and rate changes fall under monetary authority—not legislative authority.
Sovereignty, Stability & the UN Announcement
What Happened Last Weekend?
Jeff describes recent events as:
A graduation ceremony
Public recognition of Iraq’s:
Sovereignty
Stability
A milestone that needed to be announced to the world by the United Nations
“That had to be publicly announced to the world by the UN before the rate could change, IMO.”
Why International Recognition Is Key
Jeff believes:
Iraq needed global acknowledgment
Stability and sovereignty had to be internationally recognized
This step removes external objections to monetary changes
In his opinion, this milestone has now been achieved.
Jeff’s Opinion on Timing
Jeff concludes:
The required sovereignty and stability recognition already occurred
The condition he believes was necessary has been met
In his opinion, it happened last weekend
This interpretation suggests Iraq may now be monetarily unencumbered, regardless of government formation status.
Q&A – Community Clarifications
Q: Can a caretaker government change the dinar rate?
A: The caretaker government does not control the rate—the CBI does.
Q: Is the Central Bank truly independent?
A: Yes. The CBI is legally autonomous from Iraq’s legislative and executive branches.
Q: Does the UN need to approve a rate change?
A: Not directly, but international recognition of sovereignty and stability may remove political barriers.
Q: Did the rate already change?
A: Jeff believes the final prerequisite occurred, but no official rate announcement has been confirmed.
Final Thoughts
Jeff’s analysis highlights a crucial distinction:
Government formation affects legislation
Central bank autonomy governs currency value
If sovereignty and stability are now internationally recognized, Iraq may no longer be constrained by political timelines when it comes to monetary action.
As always, patience and discernment remain essential.
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Jeff
Question: "Do they have to have a fully formed completed government to change the rate?" That's questionable. While the government is in a forming state, they're considered a 'caretaker'. They have very limited access to Iraq funds and monies...
The Central Bank can change the value of the currency whenever they want. Why? Because the central bank is autonomous separate from the physical government...Do they have to have a formed completed government before the rate can change? We have no way of verifying that.
What happened last weekend was like a graduation ceremony of achieving sovereignty and stability that had to be publicly announced to the world by the UN before the rate could change, IMO, and it did. It happened last weekend.