FIREFLY: They keep talking about what a great job we have done to narrow the gap between the parallel market and the official rate.
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FIREFLY:The Untied States Federal Reserve still holds our oil reserves, our money, and this affects our economy and our exchange rate. FRANK: Yes, America is still holding on to your oil because we are protecting it...Executive Order 13303 has something to do with it.
It's a good thing. It's not a bad thing...Evil pigs tell you it's going to affect your exchange rate of the dinar. Well, of course it is...but in a positive way. It's going to improve it.
WHERE DO IRAQ’S NON-OIL FUNDS GO? PORTS, TAXES, AND REAL ESTATE ARE EXAMPLES.
In a country known for its oil before any other resource, Iraq’s non-oil revenues stand on the margins, seemingly a mere figure that no one questions. However, they represent a significant portion of the public treasury, raising the question: Where does that money go?
With mounting warnings about the fragility of the oil-based economy, there is a need to examine the government’s seriousness in collecting and utilizing non-oil resources, amid indications of weak transparency and multiple beneficiaries.
91% Oil… and the rest has no clear impact. Economic expert Haider Al-Sheikh confirmed to Baghdad Today that “total oil and non-oil revenues for 2024 amounted to 140 trillion and 774 billion dinars, of which 127 trillion and 536 billion dinars are from oil exports, representing 91% of the state’s general budget. “
Non-oil revenues, meanwhile, amounted to only 13 trillion and 237 billion dinars, representing 9% of the budget, reflecting the fragility of financial diversification and deepening the state’s dependence on crude oil revenues.
From the Federal Reserve to Iraq’s payments, Sheikh points out that “oil export revenues are deposited into Iraq’s account at the US Federal Reserve and then transferred domestically in successive installments,” meaning that oil revenues pass through external channels subject to international oversight. Non-oil revenues—such as port revenues and taxes—enter directly into the public treasury, giving local authorities greater discretion and raising questions about oversight and accountability mechanisms.
Taxes, levies, fees… and then what? Non-oil revenues include taxes levied on companies, factories, merchants, and citizens, in addition to border crossing levies and fees imposed on services. Despite this diversity, these funds remain without a real impact on the balance of services or development, raising serious doubts about their fate. These sums have not made a tangible difference in infrastructure or improved public services, reinforcing the hypothesis that they are being diverted into the political or administrative spending system without real transparency.
2025… The increase in revenues does not guarantee transparency . According to Al-Sheikh, non-oil revenues for 2025 are expected to exceed 15 trillion dinars, as a result of:
Increasing taxes on goods and services. Activating the electronic collection system for paying fees and fines. Expanding the scope of collection from new sectors. However, this expansion in collection is not matched by increased transparency, as the government has not yet announced precise mechanisms for tracking the amounts collected or the beneficiaries. This makes the potential increase a double-edged sword: an additional resource on the one hand, and an open door to corruption on the other.
A country without resources. Despite its resources, the question remains open: If the Iraqi state imposes taxes, levies, and fees on virtually every sector, where do its non-oil funds go? Do they end up in undisclosed spending items? Or are they used to plug chronic corruption loopholes? If oil is subject to international oversight through the Federal Reserve, domestic funds seem more vulnerable to being lost within the state’s own mechanisms, especially given the multiplicity of actors and overlapping interests.
😊In this regard we look at article titled “AL-HASSAN FROM KARBALA: IRAQ IS NOT A POOR COUNTRY AND IS OPEN TO FOREIGN INVESTMENT.” Remember that this is the UN speaking here. In the news it states that: Iraq is not a poor country and is open to foreign investment.
The Special Representative of the Secretary-General for Iraq, Mohammed Al-Hassan, praised Iraq’s policy of disassociation from recent conflicts in the region, stressing that the country is now open to foreign investment to improve the economic situation.
In a joint press conference with the Governor of Karbala, Nassif Jassim Al-Khattabi, Al-Hassan said, “What I witnessed in Karbala today is a vivid image of a united Iraq. What we witnessed embodies the meaning of national belonging, and that this belonging is above all considerations.” He added, “The stability achieved in Iraq did not come by chance, but is the result of collective will and precious sacrifices.”
He stressed that “Iraq is not a poor country, but rather a country of goodness, with trained, educated and cultured human resources, not only at home but also abroad. Iraq has distinguished male and female scientists, even at NASA.”
He added,
“Iraq has distanced itself from the surrounding political problems, and in light of this, we expect to see nothing but a strong Iraq with a regional and global standing.”
😊Then we read about yet another revenue source in the very near future in article titled “IRAQ TO HALT GASOLINE IMPORTS IN 2025”. But there is much more to this effort by Iraq. Refinery upgrades in Maysan and Najaf are also underway, with officials projecting that completion of these projects will position Iraq to begin exporting refined fuels for the first time in decades.
Although Iraq is a leading oil producer, years of underinvestment in refining infrastructure have forced reliance on fuel imports. However, al-Sudani pledged that the current strategy aims to convert 40% of crude production into domestic downstream products, reducing dependency and increasing revenue. Yes, Iraq is back with the right leadership.
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Can we end the terrorism threat once and for all?
The Islamic Republic of Iran is NOT going to be allowed to develop a nuclear bomb(s) to destroy Israel or any other nation. This would be like letting Nazi Germany WW2 have “the bomb”. It is that simple in principle, but a strategy of prevention is much harder without starting a war with Iran.
Trumps policy towards Iran thus filters down to Iraq since they are such strong trading partners and next-door neighbors. Trump also says it is time to end this war on terrorism, and I totally agree. Aren’t you sick and tired already of this terrorism too? But you don’t end it with pacification. You end it with strength and power.
Define to Pacify: The term “pacify” means to ease anger or agitation, calm someone down, or restore peace in a situation. It involves actions that reduce conflict or disorder. Synonyms include appease, soothe, and tranquilize.
If you read the definition, you can see that peace under a dictatorship is never accomplished through pacification. After over 20 years of this terrorist bullshit and what has it brought to the world? It is nothing but suffering and loss, not abundance and prosperity. So why would we want it to continue?
At what point do we say – enough is enough! You must meet the threat head-on and deal with it. This is what has to be done. But today it is very political, and Trump certainly has shown he does not want another full-scale war with American involvement. So how do you do accomplish this goal without a war?
To accomplish this task against terrorism, we needed a very strong leader to lead the U.S. in the effort to deal with this threat of Iran. This leader could not be compromised by the global elitist that are manipulating the world to their liking. They have been using terrorism as their weapon against society to break it down. So, any leader with strong ties to them would not be able to the dirty work that needs to be done.
Trump is dealing with it and has a plan. Sure, we can have peace, and all Trump has to do is look the other way (like other presidents have through their passivity) while Israel gets blown off the map. So, who would be next? We already know the Iranian dictatorship hates the west and has said so. And so go figure who would be next. The weird part about all this is they actually rant and rave about killing innocent people and destroying our nations. So why wouldn’t we take them seriously?
Everyone needs to know and if you remember that it was through the past CIA efforts to train these terrorists that are now instigated these terrorist tactics on the world and even trained many of these terrorist leaders in a “School for Terrorism” in the U.S.
Yes, they were taking foreign radicals from the middle east and training them right in your own backyard in the state of Vermont. Hello Burnie Sanders? What? Yes, is this a surprise to you to learn? So, you think I am lying?
Check out this article in the link below. I know its recent but these same camps were converted then to civilian camps. Oh… but it goes much deeper than this. The CIA was actually running a terrorist training camp in southern Vermont in the 1990’s until enough outcry from the public shut it down. What was going on in this camp? As you drove interstate 91 through southern Vermont they even posted a sign on the side of the highway guiding attendees to the highway exit for the camp.Go figure the latitude and boldness of this effort back then.
PROS, CONS, AND CONDITIONS… WHAT IS THE POSSIBILITY OF ESTABLISHING AN INTERNAL PAYMENTS SYSTEM IN IRAQ?
On Thursday, July 3, 2025, international economics professor Nawar Al-Saadi spoke about the possibility of establishing an internal payments system in Iraq, noting that the project’s “success” requires several conditions.
Amid the Popular Mobilization Forces’ salary crisis and the imposition of sanctions on several Iraqi banks, specialists have proposed “establishing an independent Iraqi national payments company,” aiming to “transcend reliance on foreign financial systems such as Visa and MasterCard, which often slow or restrict payment transactions due to factors beyond the state’s control.”
Proponents of the proposal believe that establishing such a platform could “constitute a step toward building an independent digital economy that strengthens the state’s control over its financial institutions, expands the horizons of national financial inclusion, and gradually paves the way for decoupling from foreign exchange instruments that impose their guardianship over our sovereign decisions.”
In this regard, Nawar Al-Saadi told Al-Jabal platform, “The step of establishing an internal payments system in Iraq will bring it closer to international standards in financial system management and enhance the credibility of the banking system with correspondent banks and international financial institutions. The existence of a reliable internal payments system means that Iraq is capable of managing its funds and transactions in a civilized and organized manner, which supports its position in international financial and trade relations.
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He added, “On the other hand, there are challenges and negatives if the project is not managed with a realistic vision, which are as follows:
First, Iraq’s technological and banking infrastructure remains weak in many areas, and there is a significant digital divide between major cities and rural areas. If this system is imposed without a ready environment, it could create social resistance or disrupt daily transactions.
Second, a large percentage of citizens are still unfamiliar with electronic payments or banking transactions. Therefore, imposing the system without awareness and gradual integration may strengthen the informal market and increase friction between the state and citizens.
Third, the system requires advanced cybersecurity protection, otherwise it will be vulnerable to breaches, especially in a fragile security and economic environment like Iraq’s. Any flaw in cybersecurity could erode citizens’ confidence in the new system and force them back to cash transactions.
The professor of international economics concluded by saying, “Establishing an internal payments system is a step in the right direction, serving the interests of the Iraqi banking system in terms of regulation, trust, and financial inclusion. It also strengthens Iraq’s image globally. However, its success depends on two fundamental factors:
– Technical and banking infrastructure.
– The degree of community acceptance of him.
Both require time, effort and a clear strategy, not just administrative decisions or imported technologies.”
😊Please go the articles section and read the article titled “PROS, CONS, AND CONDITIONS… WHAT IS THE POSSIBILITY OF ESTABLISHING AN INTERNAL PAYMENTS SYSTEM IN IRAQ?” to get the full article and all the details.
On Thursday, July 3, 2025, international economics professor Nawar Al-Saadi spoke about the possibility of establishing an internal payments system in Iraq, (which is the National Card Scheme Project I just talked about above) noting that the project’s “success” requires several conditions.
I encourage everyone to go read all these article concerning this next move by the Central Bank concerning this National Card Scheme project. All of these articles are interconnected and are chock full of information, if you take the time to read them all and understand what is about to happen.
It is all going to have a huge impact on the Iraqi financial system. Even though this system deals in the internal and not external monetary system directly, it may be a driving force for external monetary independence or at the minimum raise many questions about what the U.S. has been doing to prevent Iraqi sovereignty not help it.
But wait…there is more to this situation…..
☹If you read the news in the article titled “WASHINGTON IS “LURING” BAGHDAD INTO SANCTIONS. WHY IS THERE THIS SILENCE ON THE CENTRAL BANK CARDS”. So we find that it is not all as simple as it seems. Economic expert, Ziad Al-Hashemi, warned the Central Bank of Iraq against falling into the trap of US Treasury sanctions.
Now as investors we have to buckle down and ride the wave with the situation with Iran. We have no choice. We can write to our congress and senate reps asking they specific statements about the lack of Iraq sovereignty and why we fought the war to begin with, but please don’t make statements about the RV or reinstatement of the dinar. These events will just happen, almost automatically once full monetary independence
is regained again. I believe that the National Card Scheme project is a major step in the right direction.
When I read all these articles dealing with the Iraq monetary sovereignty, I can’t help to vision that the U.S. is trying desperately to keep Iraq on the petro- dollar. Right now the petro-dollar backs up the U.S. dollar with these vast oil reserves of Iraq.
is this why the Federal Reserve still maintains a stronghold on the Iraqi wealth by controlling the funds from the oil revenues by still mandating the petro-dollar even though the UN sanctions are relieved. Yes, the sale of oil should also be included in these changes resulting from the relieve from these UN Chapter VII sanctions. Why hasn’t this yet happened?
If you have been a faithful followers of the Mnt Goat Newsletter, you know about the articles we read the past articles about the Iraqi desire and a plan to get off the petro-dollar. So, it is in the mind of the CBI to do so and I believe eventually they will do it. This would truly be monetary independence for Iraq and it would force the reinstatement if it had not yet already occurred.