⚡ Iraq’s Oil & Gas Law: A Test of Political Will ⚡
Highlights: 🔥 The federal oil and gas law is back in the spotlight as Iraq approaches elections, marking one of the most sensitive pieces of legislation postponed since 2007. 💰 The law governs over 90% of Iraq’s state revenues from oil and affects the federal government, Kurdistan Regional Government, and oil-producing provinces. ⚠️ Continued obstruction threatens the investment environment, economic stability, and unity in oil decision-making. 📉 Energy expert Mohammed Hawrami warns that the absence of the law causes administrative and financial chaos, reduces foreign investment, and delays sustainable economic transformation. 💸 Iraq needs $15+ billion annually
to develop its oil and energy sector, improve refining, and expand export capacity, but legal uncertainty limits major companies from entering the market. 🏛️ Parliamentary member Bassem Nughmish highlights that suspending the law keeps the economy trapped in rent cycles, creating revenue disparities and hindering fiscal planning. 🤝 The law should include financial governance, joint field management, and a national development fund for producing provinces. 🌍 A comprehensive political and economic settlement is needed to transform oil wealth from a source of conflict into a lever for development and stability.
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).
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.
⚡“Iraq’s Big Move: Oil Law Showdown & Electric Car Revolution! 🇮🇶⚙️🚗”⚡
🔥 Highlights from the Latest Iraq Update:
🏛️ Oil & Gas Law Returns to Center Stage:
As Iraq nears elections, the long-delayed Federal Oil and Gas Law (since 2007) is back in focus.
This law is crucial — it defines how Iraq’s oil wealth (90% of state revenue) is managed between Baghdad, Kurdistan, and oil-rich provinces.
Lawmakers face a test of political will to pass it before December, aligning with the U.S. reform mandate for Iraq’s economic stabilization and dinar reinstatement goals.
Stability, investor confidence, and fair revenue sharing hinge on this breakthrough. 💼💰
⚙️ Iraq’s Industrial Leap — Electric Cars Factory!
Kirkuk Governorate just broke ground on the Uruk Factory Project, Iraq’s first major vehicle manufacturing plant — the largest in the Middle East! 🚙⚡
The facility will produce electric, gasoline, and diesel cars, signaling a new industrial era for Iraq.
Partnerships forming with
American, German, and Turkish automakers to transfer modern technology and boost national production. 🌍🤝
Expected to create thousands of jobs and reduce import dependence, strengthening Iraq’s economic independence and innovation drive.
💬 Commentary:
“They’re building a stronger, self-sustaining Iraq — from oil reform to electric cars. A true signal of transformation and readiness for global reintegration.” 🌅
✨ Iraq is shifting gears — from oil politics to green innovation! 🌿💡
✨ “Stay patient, stay hopeful — history might be rewriting itself soon.” 💫
------
Some highlights by PDK-Not verbatim
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: Gooood morning Mark, Andy Schectman, mods and fellow Patriots!
Member: Hello Mark, Mods And Dinarians from around the globe!
Member: What new and exciting news do you have today Mark?
MZ: On the historic bond side….my contacts are still showing “pending” on their accounts as of the first thing this morning. Hopeful it will be released soon. It is their belief it will all release tomorrow for the bond folks. 2 More contacts are hoping for theirs tomorrow. One of these is a close personal friend of mine.
MZ: Bond folks expect their currencies to go within a few days after bond payouts.
Member: Is the Fed making an interest rate decision today?
MZ: It is probably announcing as we speak. Basically they are pivoting. They are going back to easy money but the fundamentals are still the same. This will probably lead to more inflation….so the question is “What is the plan?” Devalue the US dollar, then revalue gold, and maybe reset the monetary system??????
MZ: Some of the biggest economist names in the world are all talking about it.
Member: Per Frank26- HCL draft has finalized and approved by the Council of Ministers (COM) and just waiting now to be passed. Also parliament to have sessions before the Nov 11th (election day)
MZ: That is probably accurate. I am hearing it was read and ready to go out of committee to go to a vote in parliament soon.
MZ: An interesting article dropped in Iraq. “ Al Karwi: Parliament continues after November 11 and upcoming sessions to resolve important laws” they are letting us know that even with the elections, the parliament will continue to meet and pass laws. One of the laws they are concerned about and trying to get done is the HCL (Hydro Carbon Law)
MZ: I am still hearing the vote will be before November. Its great to know they are still meeting to grind out these laws.
MZ: “A delegation from the Erbil government arrives in Baghdad to discuss non-oil revenues” They are also pounding out HCL differences so they can pass it.
Member: Central Bank Iraq signs cooperation agreement … with Kuwait National Bank blending the two currencies within the region.
Member: I am praying the rate is in the HCL
Member: there's no other explanation for the lower denominations other than an upcoming RV / RI. IMO
Member: Mark Z, do you think since we are so close that all the banks that will redeem are trained by now for this process?
Member: They have had more than enough time to do so…imo
Member: I am still waiting for a audit of The Federal Reserve and Ft. Knox. They need to get it done.
Member: everybody relax...you will wake up one morning soon and boom the rate will be there
Member: Thanks Mark and Andy. Hope everyone has a safe and prosperous day.
Reinstatement & Forex Peg Change → IQD may peg to a basket of currencies → potential major rate increase.
⚠️ Key Takeaways
Ignore “intel gurus” spreading rumors.
New lower denominations not yet distributed.
Deleting zeros technically doesn’t change purchasing power, but it does affect the per-dinar value.
Real RV (major rate change) comes after zero-removal and stabilization, not immediately.
-----
MNT GOAT: My take on these observations is this:
Why won’t they believe it?
This is mainly because these intel gurus don’t pay attention to minor details or if they get the details they soon forget to be able to connect the pieces when later information comes out. These same intel guru idiots are too concerned about telling their RV stories and rumors than FACTUAL information. They audiences tend to be dumbed down and are almost as stupid as they are. While on their conference calls they give bogus information about bank screens, memos, rates or three letter agency gossip and rumors. They use it to pump their everyday / any day RV scenarios. They have done this over the last two decades.
But as usual, again we get the knee jerk reactions by these stupid intel gurus with their stupid rumors and opinions about these recent articles on removing the zeros. On one call, I remember, TNT Tony told his audience that the three letter agency told him that removing the zeros didn’t matter. Really? So without questioning it, Tomy just repeated the nonsense. His is as stupid as the rest. Then some just repeat other rumors and do absolutely now research. They have been so lazy in the past that they have no past information in their minds or records to connect the current news to. They simply make up stories. Some intel gurus say the 50 dinar note is back but I assure you it is not yet back in circulation. There is also no pictures published as of yet of ANY of the newer lower denominations. Any pictures you see are from the ‘golden era’ of Iraq from the 1930’s and 1940’s and the CBI is attempting to impress upon the citizens what the newer notes might look like from these images. That is all it is.
Remember that in 2016 the CBI specifically told the citizens that when they begin the Project to Delete the Zeros, they would begin with the new 100 dinar note and coin. Has this changed? Again, why would they start with the 100 dinar note and not the low lowest notes. I will leave this question for you to ponder over. Soon you will see the answer but it will come from the CBI not me.
Newer “lower of the lower” denomination notes will be as follows:
Bills: 1 dinar, 5 dinar, 10 dinar, 25 dinar, 50 dinar, 100 dinar Coins: 10 fils, 25 fils, 50 fils and a 1 dinar.
Note: there may also be a 20 dinar added.
What will happen to the three zero notes?
To coincide with the newer lower denomination notes, the following three zero notes will still exist but taken out of everyday circulation. They will be used only in the background for financial institutions for larger cash transactions for international transactions, such as trade deals. Note the 20,000 note has been added since this note does not yet exist in circulation in Iraq.
Earlier it was announced the CBI will also be adding the following new coins but this could change, probably not:
.05 fil
.10 fil
1 dinar fil
5 dinar fil
10 dinar fil
50 dinar fil
____________________________________
The 20,000 IQD Note Saga:
Next, let’s review this 20,000 dinar note legacy since the CBI just told us that they are going to issue it, as part of removing the zeros. Does this sound weird to you or what at this point in time? But let me explain and so you will understand what they are doing.
What did we recently just read in a CBI article from 10/22? I quote from it below:
“He (meaning Ali Al-Alaq) pointed out that, “With the renewed proposal for the zero-removal project, which is currently being prepared, the currency denominations will be restructured in general, including the 20,000 denomination.”
What is really going on with this 20,000 note and why the recent article mentioned it from the CBI. Do you remember this article below from the past? In was one of many from late 2022. Let’s tie in this recent news to the news of 2022. Older article follows:
So, we do also know that in2022 they cancelled the notion of the 20,000 note once Ali Al-Alaq came back as the governor of the CBI in early 2023. At that time, he told us this note was still “under review”. In other words, the CBI changed it’s mind on this note and so now it has decided it is time to issue it, but only to the banks not the everyday citizen. Get it?
They now plan to launch that 20,000 note in 2025-2026 at the same time as they conduct the removing the zeros and launching the lower categories. So, this is all we now know about this note. Don’t be scared about it. It is not going to affect the removing of the zeros except that a newer 20 dinar note may arise to coincide with it. I said may arise. The CBI has not yet told us.
What? The ‘Purchasing Power’ will not change?
In some of these past and recent articles about the Project to Delete the Zeros, they state the “purchasing power” will not be change when they do it. Note they DID NOT say the rate would not change. This is tricky and so pay attention to what I am about to say next if you truly want to understand what they told us.
I quote from one of the October 16th recent articles:
“Comparative studies indicate that deleting zeros is a technical accounting step that does not change purchasing power, but rather simplifies calculations and reduces errors in financial systems”
NOTE: Very Important- the CBI did not say the rate wouldn’t change but did say the “purchasing power” would not change. Very tricky! Of course, we all can assume that the purchasing power is connected to the rate, as when the dinar has a higher rate one can use it to purchase more. Right? Again this is tricky and so stay with me…. 😊
However, as long-term investors in the dinar we all should know better, don’t we think there must be some kind of rate change in-country? How can we have these lower denominations without a rate change, as they would be almost worthless. Ah…but this is the what we are about to explore.
First why would they need a rate change?
To incentive the citizens to turn in stashed of currency to the banks
Al Sudani told us the dinar would be worth more than the dollar (but this may not come until the reinstatement phase of the project.
Here is yet more proof that the rate of the dinar must change when they Delete the Zeros. But is the CBI going to “intentionally” change it, or will this just occur as a matter of removing the zeros. This is the key to unlocking the mystery of this latest statement of ‘that deleting zeros is a technical accounting step that does not change purchasing power” Let me explain.
I need everyone to put on their thinking caps. Ready…okay Think about it, yes THINK, THINK, THINK!
So, let’s role play and figure this out together, okay? Here is an example using what they just told us in recent articles Then we can determine if the rate does change, but changes as a matter of course, not an “official” CBI rate change. The CBI even used the term that deleting zeros is a technical accounting step that does not change purchasing power. Can you see it now?
Example: Today is October 28, 2025 and the “official” CBI rate is 1320 IQD per 1 USD, right? We know this and they told us this is not changing “in order to remove the zeros”. Okay so now we are beginning to see the light and what will happen. You see the CBI does not have to change the “official” rate as it will change itself. Again lets go to an example and we will understand.
So, today the “official” CBI rate is 1320 IQD per 1 USD. This equates to about $18.94 for the value of a 25,000 dinar bill today. Here is how I calculated this: 1.00 /1320 = .00007575 per dinar. Yes, that is not even a penny a dinar. Then multiply .00007575 x 25,000 = $18.94 USD. Everyone still following me? Let’s go further and here is where the rate does change.
So, if the 25 dinar note is to replace the 25,000 note and the “purchasing power” is said not to change, it would have to have a value of $18.94 too according to the recent set of articles just published by the CBI, right? The same as the 25,000 note it is replacing, right?
So, let’s look at what happens when they removing the zeros…..
Logically if we take 18.94 divided by 25 we get .72 (almost .73 cents) per dinar. WOW! Do you see the rate change now? If you take the 1320 “official” CBI rate the rate per dinar is at .00007575 per dinar, right?
So, the rate did change! Again, what are we talking about here? What they told us about the “purchasing power” of the dinar not changing is true but they are not telling us the entire truth. It is a play on words. But ‘technically’ they are correct. The CBI even used the term that deleting zeros is a technical accounting step that does not change purchasing power. Can you see it now?
But be careful that some intel gurus are telling you that removing the zeros means to drop the zeros from the “official” CBI rate. This is entirely FALSE. Just take a look at this video from the CBI itself, It is now playing in Iraq as part of the educational process. Yes, Frank26 I am talking to you. Get your information correct. Tell you listeners the TRUTH!
Recent Video from the CBI on the Project to Delete the Zeros
This simply is just more intel guru idiot talk and that is why I am now telling you to stay away from these idiots. Again, they don’t know what the hell they are talking about. So, let’s do the math and see what happens to the “official” rate per dinar under 1320. The rate is actually .00007575 per dinar then drop three zeros = .00007575 leaving .075 or 7 or 8 cents rounded. So, if what the gurus say is true the “purchasing” power would be drastically changed to 7 cents by a “rate change” and this is not what the CBI just told us. Get it?
I know, I know, it is confusing and so just relax, listen to me and don’t over think it.
So, now let me answer some common questions that may arise: Always feel free to ask your question(s). I will do my best to answer them. But before you do make sure I didn’t already talk about your topic.
Question: When does our real RV nominal rate come out, the big rate we all want such as $3.81 or $4.00 as we are told might be the rate?
Answer: Again I will emphasize that the Project to Delete the Zeros is ONLY the first step of the process to get to FOREX and the dinar is still solely pegged to the dollar. It is to collect all the larger notes and issue the lower denominations. This is the purpose of this step. The CBI will be VERY concerned about inflation afterwards and so they told us there will be a period of time before they move to the next step.
The next step is the REINSTATEMENT on to FOREX. The peg will change and the IQD will be repegged to a “basket” of currencies that will allow it to change drastically higher. Get it? This is how we get the rate we want. This is when we go exchange.
Here is the article from 2019 from the CBI as proof that there must be value and usefulness in the dinar for the citizens to use it or the launching of the newer notes will not work. The project will be a flop.
Folks, I try to save everything so I can go back to it. See article below:
Question: Is Iraq really now distributing the newer lower denominations?
Answer: Absolutely NOT! Stop listening to these idiot intel gurus. My CBI contact told me she will let us know when this happens. The CBI will first publish the newer notes on their website and with pictures once they start rolling them out.
Question: Did the CBI recently publish the pictures of the newer lower category notes 1,5, 10 and 50? Stop listening to these idiot intel gurus.
Answer: Absolutely NOT! As I emphasized years ago they will use the vehicle of the CBI site to show all the newer notes just as they with the three zero notes. They don’t want to give the counterfeiters time to design and print these newer categories prior to launching the notes in Project to Delete the Zeros. They are keeping very tight security on these newer notes.
Question: Is this lop? Will our dinar be worthless? Yes, I want to shoot the next person who asks me this….lol… lol.. lol..
Answer: Folks your dinars now are almost worthless. Get it..lol..lol..lol.. 😊? A “lop” is a very specific tool used by the IMF. It has a specific meaning to “restart” a currency. In other words, the central bank takes in the hyper-inflated currency due to “hyper-inflation” and restarts the denomination process all over again by issuing lower denominations. In other words, unless they do something about the very high inflation in years ahead, they will be lopping again and again. So, what did the CBI and the Finance Committee tell us about Iraq’s inflation rate? I will leave it at that…. Please no more questions about a lop!!!! ☹ PS- I also read the 2011 CBI / IMF plan to get to the reinstatement and it does not at all talk about a lop. We also know these 3 zero notes are going to “coincide” with the newer lower denominations. So how can this possibly be a “lop”. Please do your research.
Please feel free to ask a question on this subject matter. Now is the time.
