Reset Intelligence

Everyone has read September 30 as the day the troops leave Iraq.  On Thursday, Iraq’s Ministry of Finance read it differently…”Sovereignty in money…that the financial decision be Iraqi.” …The official rate […]

We have watched [the CBI] through every loud week since April and its discipline has not cracked once. It denied the new notes, while the production notice surfaced, it denied […]

A currency is sovereign when the state that issues it, sets the price, holds the revenue and clears its own payments.  Iraq has spent 23 years on the wrong side […]

A country declares sovereignty over its territory with a flag and a ceremony.   Sovereignty and money has no ceremony.  It is declared with a number on a morning the […]

On Tuesday Trump and six Gulf Heads of States settle what the region looks like after Iran…September 30th the withdrawal completes, the disarmament date lands and the ministry’s sovereignty date […]

Reset Intelligence: The Iraqi press reported the state is discussing replacing the entire banknote series, with deleting the zeros explicitly ruled out for now and new notes below 250 dinars on […]

Iraq’s Ministry of Finance published… “Sovereignty in money… that the financial decision be Iraqi.” …with the hashtag “Iraqi Sovereignty Day.”  Finance ministries do not deal in slogans. They deal in […]

Reset Intelligence: 5 mistakes IQD holders will make on payout day: 1. Using one bank. You want two or three. 2. Chasing the rate instead of preparing documents. 3. Believing anyone […]

The people drafting Iraq’s 2027 budget let their working price for a barrel of oil surface in the Iraqi press: somewhere between $50 and $70, while the barrel trades above […]

The first [bank exchange] rate you are offered is rarely the best one available.  Rates differ between providers on the same morning.  People who compare three options keep more than […]

A budget can’t exist without a rate in it…Now the part everyone is blending:  The budget doesn’t SET the rate. It records it. Since a number has to go in […]

Reset Intelligence: Every gate in front of the IQD now carries a date and Baghdad said one of them.  Iraq’s budget reached its cabinet on schedule, with the parliament vote fixed […]

The budget reached the cabinet on schedule.   Al-Zaidi…spent Monday in Paris, across a table from Edouard de Rothschild of Rothschild and Co…On the day the most consequential document in Iraq’s […]

Lincoln fought the central banks and was killed.  Andrew Jackson survived assassination attempts over the Second Band of the United States.  Kennedy tried silver certificates and was killed five months […]

Tuesday, Iraq’s 2027 budget draft goes before the cabinet in Baghdad, the first complete budget since 2023 at roughly 200 trillion dinars, and every budget is built on an exchange […]

Reset Intelligence: The 800 number, the appointment, the contract rate, the NDA…I went looking for them – through every banking authority, every central bank statement, every court record that touches […]

Chevron does not gamble…and does not pre-pay.  Its entire business is deciding which countries can be trusted to deliver barrels against dollars.  It has priced that question in Iraq at […]

Foreign holders are on a separate rail from Iraqi citizens. The domestic swap runs through the Central Bank of Iraq…The international rail settles in your own country, paid in USD, […]

Yesterday Iraq walked into OPEC’s capacity audit and filed a demand: a production baseline of 6 million barrels per day. Its current quota sits near 4.4 million…a third above what […]

[Iraq’s] Cabinet amended its own Decision 348 to authorize the Oil Ministry to sign three agreements with Chevron: an advance payment arrangement, a crude supply deal, and a technical consulting […]

Iraq’s Parliamentary Finance Committee says it wants to print a banknote smaller than the 250-dinar note. At the official rate of 1,310 to the dollar, a 250 note is worth […]

Iraq faced its first bank run of the cleanup…Depositors crowded the doors of Al-Taif Islamic Bank in Baghdad demanding their money back. One woman told reporters she has 220 million […]

Today the [currency] operation met its first stress test…A currency change over has one weak point.  Forget the printing, paperwork and parliament.  The weak point is the morning every citizen […]

When the rate is live, go to the private-client side of a large institution, not a retail branch. Chase Private Client opens near $150,000 in combined balances. UBS from roughly […]

Smaller Notes Only Mean One Thing. A note smaller than 250 dinars is worthless at today’s rate. A state prints one only when it knows the rate is about to change…Baghdad […]

The CBI sets and announces the rate… any morning it chooses. It does not need the budget, the cabinet, or a vote.  That is literally the law: Central Bank Law No. […]

The exchange rate in Baghdad is not only a market number. It is written into law through the budget. The 1,300 every holder knows by heart has sat there since […]

In 1990 two neighboring currencies both bought more than $3.00 each…One Iraqi dinar bought $3.22 sitting right beside its Kuwaiti neighbor at $3.47.  Two dinars, two neighbors, both above $3.00.  Then […]

This week the world’s 20 largest economies agreed on the record that a currency priced below its fundamentals is not a fact of nature.  It is a fault produced by […]

There is a precedent for how this ends and it is right next door.  When Iraqi forces invaded Kuwait in 1990 they looted the currency and the world wrote the […]