Tuesday, January 20, 2026
Erbil tells the story of reviving the "gold lira" as an inherited economic refuge
Erbil tells the story of reviving the "gold lira" as an inherited economic refuge
1/18/2026
Erbil (Kurdistan 24) Salar Gharib, who has twenty-three years of experience, begins the journey of converting raw “broken” gold into shiny liras by melting the metal at temperatures ranging from 1300 to 1600 degrees Celsius, after determining the carat with extreme precision to be “21 carat” (91.6% purity), which is the most popular and trusted grade in the local markets.
In keeping with the culture of saving that is deeply rooted in the Kurdistan Region society in all its cities, regions and extensions, and with the increasing demand for the yellow metal as a safe haven for wealth, gold crafting factories in the capital Erbil are witnessing remarkable technical and artistic activity to produce the “gold lira” with local and international specifications, as these small pieces have turned into an economic icon that combines investment value and traditional beauty.
At the heart of a specialized workshop, after the gold is poured into molds to produce longitudinal ingots, the material passes through rolling and pressing machines to form precise gold sheets.
Their thickness is measured with sensitive electronic instruments to ensure a consistent weight. Here, goldsmith Salar points out that the 5-gram gold lira is the most sought-after coin among the residents of Erbil. It is cut to a diameter of 80 millimeters before undergoing a purification and drying process in preparation for the final "minting" or stamping under immense hydraulic pressure of up to 1500 bar, which gives it its distinctive visual identity and seal of quality.
When discussing production capacity, the factory managers emphasize that the increasing demand has prompted them to raise the pace of work. The factory produces between 600 and 700 gold liras daily in various shapes and weights, with the possibility of printing more than 4,000 copies of some highly sought-after models. This reflects a revival in the local industry and the ability of craftsmen in Erbil to compete with imports in terms of accuracy and purity.
Experts believe that, looking at the future of the market, this trend towards local manufacturing of gold savings coins not only provides job opportunities for local staff, but also gives the Kurdish consumer an additional guarantee of purity and weight, so that the “Erbil” gold lira remains a solid bridge that citizens cross towards financial stability that defies the fluctuations of paper currencies. LINK
FRANK26 & MNT GOAT: Iraq 3-Zero Notes, Exchange Timeline & Global Revaluation
Introduction: The Countdown to the Dinar Revaluation
As the Iraqi Dinar revaluation (RV) approaches, Frank26 provides critical updates on the recovery of three-zero notes, the global exchange network, and how political and financial stability will affect the rollout.
According to Frank26, the vast majority of 3-zero notes are already being retrieved, and once the new exchange rate is announced, the remaining notes will flow in rapidly.
Three-Zero Notes: Nearing Completion
Frank26 shared an important milestone:
“We are close to 90% in retrieving the 3 zero notes. Once they change the exchange rate, the rest of the notes will pour in like a waterfall.”
What This Means for Holders
Nobody wants the old 3-zero notes once the new notes are available
People will exchange their zeros for new, lower-denomination notes with value
Frank26 estimates a 6 months to 1-year window for exchanging remaining notes, though it could be longer than expected
This reinforces the idea that retrieval and conversion is orderly and phased, designed to avoid hyperinflation.
Global Access: Will Dinar Revaluation Be Worldwide?
Some investors worry about geographical restrictions, for example in Australia. Frank26 clarified:
“Anywhere that they exchange foreign currency… There will be plenty of places. The CBI will have thousands of private banks across the world for you to take your 3 zero notes and turn them in.”
Key Takeaways
Revaluation is not limited to Iraq or select countries
The Central Bank of Iraq (CBI) is coordinating global participation
Holders worldwide will have access through authorized private banks
U.S. Support: Stability and Investment Plans
Mnt Goat, a community member, highlighted U.S. involvement, which Frank26 confirmed aligns with strategic goals:
Trump administration reportedly prioritizes reinstating the Iraqi Dinar
Plans include massive U.S. investment into Iraq for development
Preconditions: Iraq must be politically stable and secure
This underscores that global confidence and internal stability are pivotal to the RV.
Featured Snippets (Google Discover Ready)
How much of the 3-zero notes have been retrieved?
Approximately 90% of the three-zero notes have been collected, according to Frank26.
Will the Iraqi Dinar revaluation be worldwide?
Yes. The Central Bank of Iraq will provide thousands of private banks globally for exchanging 3-zero notes.
How long will holders have to exchange their 3-zero notes?
Frank26 suggests anywhere from 6 months to 1 year, potentially longer.
Does U.S. support affect the Dinar revaluation?
Yes. U.S. investment and support depend on Iraq being politically stable and secure.
Q&A Section
Q: What happens to the 3-zero notes after the new rate is implemented?
A: The remaining notes will be exchanged quickly for the new, lower-denomination notes, which hold value.
Q: Can Australians or other foreigners participate?
A: Yes. Any authorized private bank participating in foreign currency exchanges will handle 3-zero note conversions.
Q: Does political instability delay the RV?
A: Political and security stability is required for full international rollout and investment.
Q: Is this financial advice?
A: No. All information reflects opinion and analysis for educational purposes only.
Important Disclaimers
Frank26 Commentary Disclaimer
Statements reflect opinions and interpretations, not official government confirmation.
General Disclaimer
THIS CONTENT IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE FINANCIAL, LEGAL, OR INVESTMENT ADVICE. CONSULT A QUALIFIED PROFESSIONAL BEFORE MAKING DECISIONS.
Final Thoughts
With:
90% of 3-zero notes already retrieved
Global access confirmed via CBI-coordinated banks
Political stability approaching
U.S. investment plans poised
Frank26’s update indicates that the framework for a smooth, global Iraqi Dinar revaluation is largely in place.
Once the new exchange rate is announced, the final phase of note conversion is expected to accelerate dramatically, giving holders worldwide access to the new, valuable currency.
Stay Connected & Follow the Latest Updates
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Join our global community and stay ahead of the RV developments.
Hashtags
#IraqiDinar #3ZeroNotes #Frank26 #GlobalRevaluation #DinarRV #CurrencyExchange #CBI #USInvestment #IraqStability #MonetaryReform #DinarRevaluation #FinancialEducation
Frank26
We are close to 90% in retrieving of the 3 zero notes. Once they change the exchange rate the rest of the notes will pour in like a waterfall because nobody wants to keep those 3 zero notes. Instead they will want to clone the new lower notes that will have value...I believe they told us that you have anywhere from 6 months to a year to trade in the remaining zeros. I think we're going to have a lot more time than that.
Question: "I have heard in Australia the Iraqi dinar might not be revalued. Should it not be worldwide?"
Anywhere that they exchange foreign currency...There will be plenty of places...The CBI will have thousands of private banks across the world for you to take your 3 zero notes and turn them in.
Mnt Goat
we must believe that the Trump administration wants the reinstatement of the Iraq dinar even more than we do, however the situation in and around Iraq must be stable. Trump plans to bring in massive US money to Iraq for development and investment, but it must be stable and secure first.
Predictions regarding Savaya's plan: Closing all banks except for four... and targeting rebel factions
Predictions regarding Savaya's plan: Closing all banks except for four... and targeting rebel factions.
With increasing reports of the arrival, or imminent arrival, of Mark Savaya, US President Donald Trump's envoy to Baghdad, a key question arises in political circles: Will he be an adversary or a partner to the ruling group in Iraq?
The answer, according to initial indications, appears complex. Since assuming his post about three months ago, the US envoy has declared a hardline stance against groups cooperating with Tehran and armed factions. However, information circulating in Baghdad suggests the formation of a new relationship between Savaya and the "coordination framework" in its "disarmed" version, which anticipates his arrival as a potential partner in the coming phase.
During the height of the unusual US escalation against Iran, contacts described as "strange and rare" were recorded, involving Iraqi groups that had declared their disarmament attempting to mediate with Tehran for the release of Western detainees. Political sources say that this new relationship will have "scapegoats," namely the few remaining factions that refuse to disarm and relinquish their military and economic capabilities.
According to reports, the US envoy is expected to implement a package of decisions, exclusively published by Al-Mada newspaper last year, concerning the closure of most Iraqi banks, leaving only a limited number—no more than four to six—operating. This is part of a strict US campaign to combat money laundering and cut off Iranian funding sources.
Sources indicate that Savaya's rapid activity, since assuming his duties as special envoy to Iraq last November, stems from the presence of an "Iraqi team ready to cooperate." These sources, who requested anonymity, do not rule out that this activity is linked to the formation of the next government, pointing to signals from Nouri al-Maliki, leader of the State of Law Coalition and the leading candidate so far for prime minister, regarding openness to cooperation with Washington.
Four days ago, during his meeting with the US Chargé d'Affaires in Baghdad, Joshua Harris, Maliki emphasized the necessity of "monopolizing weapons in the hands of the state" and expressed Iraq's desire to "expand the partnership with the United States by activating the Strategic Framework Agreement," according to an official statement issued by his office.
Sources indicate that the "Coordination Framework" is prepared for full cooperation with Savaya on the issue of armed factions, leaving the choice of how to deal with groups refusing to disarm—whether through military force or economic activities—to the United States.While Washington escalated its threats against Tehran, brandishing "very strong" military options before later backing down, the Iraqi resistance factions in Baghdad were preoccupied with other types of conflicts, related to the distribution of positions in the upcoming government and shaping the post-disarmament phase.
For the first time in five years of US-Iranian tension, these groups do not appear poised for large-scale intervention in any potential US strike against Iran, except for limited actions. However, Kataib Hezbollah emerged alone with an escalatory tone, threatening to retaliate against any attack on Iran and describing war as "no picnic." This was followed by another, less well-known group called Saraya Awliya al-Dam (Brigades of the Guardians of Blood).
Four armed groups had previously announced their decision to disarm in exchange for being allowed political participation. All eyes are now on Savaya.
Meanwhile, Savaya shuttled between the US Treasury and Defense Departments, coinciding with intensive diplomatic activity by the US chargé d'affaires in Baghdad, who met with most Iraqi leaders, including Maliki. Official statements from Washington and Baghdad indicate that the two main issues on the table are preventing the participation of armed factions in the next government and cutting off their funding sources and Iran's access to hard currency.
These statements reinforce what Iraqi sources suggest: that Savaya's mission will focus on implementing decisions related to the closure of at least 96 banks. Currently, 37 Iraqi banks are under US sanctions, with expectations that the number will rise to 69, amidst leaks about a US request to seal the banks shut, leaving only a limited number—between four and six—operating.
In this context, Savaya held a meeting on Friday at the White House with US Secretary of Defense Pete Hegseth and Director of Counterterrorism Sebastian Gorka to discuss the details of his upcoming visit to Iraq. In a statement, he said, “The issues discussed will be raised during the upcoming visit, in communication with decision-makers, in a way that serves the interests of the Iraqi people.”
Last Wednesday, US President Donald Trump praised his special envoy’s performance, saying he “did a fantastic job in Iraq.” Meanwhile, rumors continue to circulate in Baghdad that Savaya received five million dollars from Iraqi entities before assuming his duties, amid allegations of “buying American favor,” though these claims remain unconfirmed.
Independent politician and former MP Mithal al-Alusi expressed his pessimism regarding the US envoy’s mission, stating that Savaya and his team “are dealing with a failed state and politicians accused of corruption and crimes.”
Speaking to Al-Mada, al-Alusi warned that the US demands for “a government without militias” and economic sanctions, while essentially Iraqi demands, could be used at the expense of the integrity of the political process. He pointed to recent worrying attempts, including US contacts with Iraqi factions to help secure the release of Westerners detained in Iran during the height of the escalation. He concludes by saying that ignoring the reform of the political process and the protection of freedoms means accepting a more chaotic Iraq, with the Americans content to manage the scene through the embassy, which portends further disintegration of the Iraqi state. link
JEFF: Iraq Sanctions Breakdown, OFAC Status & Government Formation Acceleration
Introduction: Why Sanctions Matter More Than Headlines
Recent commentary from Jeff delivers one of the clearest breakdowns to date of where Iraq truly stands on sanctions, what has already been removed, and what still prevents Iraq from fully going international.
While many believe sanctions are “mostly gone,” Jeff clarifies that one final barrier remains—and it is the most important one.
Which Sanctions Are Gone — And Which Remain?
Jeff addressed this question directly:
Sanctions That Are Already Gone
✅ UN Chapter VII sanctions – REMOVED
✅ Oil export controls – REMOVED
✅ Pathway to WTO – OPEN
✅ IMF and World Bank access – ACTIVE
These are major milestones that confirm Iraq is no longer treated as a restricted or isolated nation under international law.
The Last Remaining Sanctions: OFAC
According to Jeff:
👉 The only remaining sanctions on Iraq are within OFAC (U.S. Treasury)
Why OFAC Is Critical
OFAC restrictions control:
International dollar transactions
Cross-border banking activity
Global financial integration
Without OFAC clearance, Iraq cannot fully operate on the international stage , regardless of other progress.
Why a Rate Change Is Still Required
Jeff made a key point:
“To go any further forward after the government is formed, they have to change the rate.”
In other words:
Government formation alone is not enough
A rate adjustment is required for Iraq to move fully international
OFAC, audits, and rate change are interconnected
Why Iraq Is Being Audited Right Now
As Iraq approaches the second half of government formation, Jeff revealed a critical development:
Savaya’s Envoy and Financial Audits
Savaya’s representative is going in to open the books
Purpose: financial review and audit
Timing: before sanctions are lifted
Why This Matters
“Part of the reason they’re auditing them is because they’re getting ready to lift the sanctions so they can go international.”
Audits are a final compliance step, ensuring:
Transparency
Financial integrity
Readiness for global banking standards
This is standard procedure before OFAC sanctions are lifted.
Political Acceleration: This Can Move Very Fast
Jeff emphasized that the next critical milestone is parliamentary action:
What We’re Watching For
A formal parliament session
Vote on the President
Announcement date still pending, but very close
Once this happens:
“When they get to the point of a prime minister, this can go very fast.”
Same-Day Announcements Possible
Jeff believes:
President and Prime Minister could be announced the same day
Political timelines can compress rapidly once consensus is reached
This supports earlier commentary from other analysts that Iraq does not always use the full constitutional timeline.
Featured Snippets (Google Discover Optimized)
What sanctions still remain on Iraq?
The only remaining sanctions on Iraq are OFAC restrictions under the U.S. Treasury.
Why is Iraq being audited now?
Audits are being conducted to prepare for lifting OFAC sanctions and allowing Iraq to operate internationally.
Does Iraq need a new exchange rate to move forward?
According to Jeff, a rate change is required after government formation for Iraq to fully go international.
Can Iraq announce a president and prime minister the same day?
Yes. Jeff states this is possible once parliament reaches that stage.
Q&A Section
Q: Is Iraq still under UN sanctions?
A: No. UN Chapter VII sanctions have been removed.
Q: Can Iraq trade oil freely?
A: Yes. Oil export controls are no longer in place.
Q: Why does OFAC matter more than other sanctions?
A: OFAC controls international banking and dollar-based transactions.
Q: Does an audit mean sanctions are about to be lifted?
A: Audits are typically conducted immediately before sanctions removal.
Q: Is this confirmed by official sources?
A: No. These are interpretations and opinions shared by Jeff.
Important Disclaimers
Jeff Commentary Disclaimer
All statements reflect opinion and analysis, not official confirmation.
General Disclaimer
THIS CONTENT IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE FINANCIAL, LEGAL, OR INVESTMENT ADVICE. ALWAYS CONSULT A QUALIFIED PROFESSIONAL.
Final Analysis
With:
Nearly all sanctions removed
OFAC as the final barrier
Audits underway
Political leadership close to confirmation
Iraq appears to be checking final compliance boxes, not starting from scratch.
The structure is already in place. What remains is execution and timing.
Stay Connected & Follow Our Updates
🌐 Blog: https://dinarevaluation.blogspot.com/
📢 Telegram: https://t.me/DINAREVALUATION
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Join us and stay informed as Iraq approaches the final stages.
Hashtags
#IraqiDinar #OFAC #IraqSanctions #JeffRV #RVUpdate #IraqPolitics #CurrencyReform #MonetaryPolicy #DinarRevaluation #GlobalBanking #WTO #IMF
Jeff
What are the remaining sanctions?
UN Chapter VII sanctions, gone. Oil export controls, gone. IMF, World Bank access still active. WTO pathway is open...The last remaining sanctions on Iraq are within OFAC.
To go any further forward after the government is formed they have to change the rate. With that said...as the government nears the second half of the formation, Savaya's envoy is going there to open the books to give them a financial review/audit.
Part of the reason they're auditing them is because they're getting ready to lift the sanctions so they can go international. It's about allowing them to go international. The last remaining sanctions is OFAC.
The news is phenomenal. Looks amazing. The next critical thing we're looking for is when they're going to have and hold a session of parliament to tackle and vote on the president. They haven't given us that date yet but they're in close proximity to doing that...When they get to the point of a prime minister, this can go very fast...They could announce the prime minister the same day they announce the president.