Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
ABOUT THE NEWSLETTER:
June 2, 2026 Mnt Goat News Brief
Guten Tag everyone:
The election cycle should be concluding this week as the last of the ministers for Zaidi’s cabinet are appointed and put to work. The two decade long RV saga continues. Today I give you yet more insight as to what is holding up the reinstatement. Will you listen to me?
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I recommend $15-$20 dollars a month or whatever you can afford. Do you realize I write up to eight (8) Newsletters every month. This is like a second job to me. The only way I know that people are reading and appreciating all the FACTUAL news I bring is through their appreciation. If I do not receive equal appreciation for all the hard work I do, I will simply end the Newsletter and save myself endless hours at the computer. You do want to get paid for your job, don’t you? What makes my job any different? Tell me….. I am tired of this RV saga just as you are.
Let’s all try to chip in!
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Romans 6:22
But now having been freed from sin and enslaved to God, you derive your benefit, resulting in sanctification, and the outcome, eternal life.
STATUS OF THE RV
FYI: It looks like my Latest Mnt Goat Newsletter will only be published once a week from now on unless others are willing to step up and show their appreciation for all that I do from my audience. The next step is NO Newsletter. I must keep my sanity as I am already working 2-jobs, trying to keep the gasthaus open. The romantic tourism is not what it used to be in Bavaria since COVID and then the heavy migration of illegals. If I am to work 3-jobs I want to get paid for it. It is not that I greedy by I know that there are people out there who actually appreciate all that I do but the rest just sneak in and peek. There are over 20,000 hits on my blog each Newsletter. So, do I matter or not? My audience will have to decide if you want the TRUTH or not about this investment.
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We made it to June with no reinstatement ☹. Did you think we would have it by now with all the turmoil in the middle east? I guess all these intel gurus were so wrong again….lol.. lol.. lol.. 😊 What will this new prime minister Zaidi bring to Iraq? We are told his cabinet should be completed this week.
There are fundamental changes occurring in Iraq and throughout the world. AA shift to a new set of paradigms. Iraq is not alone. We have not seen these types of changes before. There is a revolution going on in the middle east. Can you see it too?
It is the mindset that matters the most. If you can change minds to move, in a needed direction that you need, then things can happen. Almost anything is possible. I have said before that the CBI is ready to conduct the Project to Delete the Zeros and to reinstatement the dinar, but they will need STABILITY and SECURITY. This has to happen not only in Iraq but throughout the world, at least to some level. The problem is the rest of the world may not yet be ready. Also, the politics in Iraq must catch up to the CBI. Maybe Zaidi can do that.
The U.S. Treasury and the IMF need to witness that Iraq can support its new currency when it does get rolled out. Iraq must put on its ‘big boy shoes’ and being acting like a sovereign nation. It is one thing to keep shouting ‘sovereign nation’ and another to act like one. This will mean financial and economic stability. It is much more than just making banking and financial reforms inside Iraq that matters. I have shown you this over and over again and I am showing it again to you today. There is also the interaction of Iraq with the rest of the middle eastern and international countries. Just look at what is now happening in Iran. Do you think this is just happening or a well planned series of events?
Remember that this is all part of a bigger ‘global reset plan’ and NOT just some currency reset. This notion of just a standalone currency reset is where most investors in the dinar community get confused. We get confused because that’s all these intel gurus want to talk about and ignore the rest of the world and what is happening in it. There is no sense of spirituality in them guiding you through these events we see unfolding. Their fake prayers and lack of sincerity at the beginning of their intel calls really gets my goat….
The global reset is also a resetting of a culture from this warped ideology that has crept into our society. You all know what I mean. You started this crap anyhow?
We have witnessed it in such things that make good into evil and then evil into something good. We can clearly see the evil yet when supported from the top down in governments that mandate these evil changes in the name of freedom and rights. Really? We can clearly see the destruction in front of us, yes it was getting to a point where people were even afraid to speak out against it or challenge it, even though they knew it was wrong. But this is all changing. Incidentally did you know that Canada is considered a ‘hate speech’ law that, if convicted, is a life sentence in prison. Who determines then what is hate speech? Is it going to be some bureaucratic government agency making people afraid to even say anything under fear? Will it be pandering to the far left 5% again? So, you can see how this ideology uses our good nature too to overcome us and fool us into thinking it might be something good. This is a very good example and why we have the US Constitution for our country to guide us and protect us against such possible tyranny. In the US you can’t in prison someone for free speech.
So, it is not just all about Iraq or the U.S. but the other countries too that must throw out this evil and denounce it. This evil has been permeated in all aspects of our lives. It wants to be the ‘new’ normal. It wants us to accept it and shut up. But our common sense tells us its all wrong and we can’t and should not accept it. We should follow our God-given common sense before it’s too late. The recent 2024 election in the US shows that people have finally had enough. It’s not too late.
The political structures must be changed back to disallow it and revert back from it. If you are on a bad course set for destruction why not change your course. it is only common sense. The few in our society (less than 5%) cannot and should not dictate to the many how we are going to live. This is not democracy? We must ask why do many of these leftist politician’s pander to the small minority? Certainly, there are not many voters, so why? Could it be that they are just fooling us again with fake news, fake polls and fake elections to get into power? Yes, they make us believe their minority is the majority. They need to separate us and keep us from uniting in our views. This is especially true when their ideology interferes with our long-standing Judeo-Christian values and morals to which our country was founded on. So, this too is being reset.
Then there is the financial reset we see happening through the U.S. that is fundamentally going to change our societies in the way we look at wealth building, but in a good way this time. It will affect the ways to raise funds to pay for basic local public services along with raising revenues for federal funding. It’s all going to be revolutionized and it is now beginning as I write this Newsletter. Just look at what is happening to the IRS and the Federal Reserve. Look at how many states are rethinking creative ways to raise revenue besides using the home property tax structure we have see in place for decades. Then the Trump administration is using tariff revenues and fair trade as one means of federal revenue to slowly shift from an individual income tax revenue to an external revenue service (ERS) to replace the Internal Revenue Service (IRS). The prophet Julie Green tells us today of news that is soon to come out of just where all our tax money went to.
The result is people will have more freedom and not be enslaved by taxes and bills. Don’t get me wrong we are NOT moving to everything being FREE, a socialist society or everything controlled by the state. Of course, even an idiot can see that this would not work as who would pay for it all? Government must shrink and stop unnecessary spending on these woke senseless projects.
Then artificial intelligence (AI) also is going to be a driver and when it does jobs will shift drastically. However, this might be for the worst, it can be dangerous if we are not careful. What will man actually do to make a livelihood and raise a family? The Catholic Pope Leo XIV recently gave us a grave warning if we go too far with this AI. Many criticized him but they did not understand the warning. The warning is a dire one if we cannot control it and use it to serve us rather than to be subservient to it. Let us not look back decades from now and wish we restricted AI use. We need laws in place to combat the corruption that will come from it, and it is coming, I assure you.
So, I wanted everyone of my readers to realize that this effort in Iraq to get to the reinstatement of the dinar is a much, much broader effort than most know. It is only a small part of a bigger global reset. Iraq does not stand alone as they must comply with the international standards already set to make this reset work. Iran is a stumbling block for them and they know it, but the Iranians are well dug in. But these proxies are drying up. Such proxies as Cuba, Venezuela, Lebanon, Libya, Palestine Gaza, etc. And now it is time to strike and confront the mother country of terrorism – Iran itself. We would never have this opportunity had Iran advanced just a few more months, never mind years. Then what?
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What is in the latest news?
To cover today’s ‘real’ news, I first want to emphasize once again that Iraq is heading for a huge, radical Economic Transformation. I do not use this terminology lightly. If this holds to it promises this will lead us to what we want – the reinstatement of their dinar currency.
I want to bring you this article once again. You can go read the article in detail in my May 26, 2026 Newsletter. Their words not mine in the article titled “PRIME MINISTER’S ADVISOR: IRAQ IS ON THE VERGE OF MAJOR ECONOMIC CHANGES UNDER THE GUIDANCE OF AL-ZAIDI“The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Saleh, confirmed on Wednesday (May 27, 2026) that Iraq is going through an important transitional phase at the economic level, noting that the directives of Prime Minister Ali al-Zaidi have brought about a shift in the philosophy of managing the state’s financial and economic affairs, which paves the way for broad transformations during the coming period.
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There is not a lot of new news for the ongoing RV saga today. I am still watching the five (5) critical issues. I am also still watching other developed countries as they too come about finding their way to oust these woke politicians and reverse/push this stupid woke ideology out of their countries. Please go watch some the updates I found for Australia and other countries that are now struggling with this crap and to rid it from their country. Please review the Political Section today it will be an eye opener.
In this first article we see that drastic change is coming to Iraq. The priority of the US is no long democracy building but rather security. We we learn this in the article titled “IT’S NO LONGER A SEPARATE ISSUE”: WASHINGTON IS RESHAPING ITS PRIORITIES IN IRAQ.”
On Sunday, US President Donald Trump announced the appointment of Washington’s ambassador to Ankara, Tom Barrack, as a special presidential envoy to Iraq and Syria.
Diler Khalaf Osman, a researcher in international relations and Middle Eastern affairs at the University of Tennessee, confirmed on Monday that Washington’s decision to merge the Iraq and Syria files under the supervision of a single envoy reflects a fundamental shift in the American strategy towards the region.
Osman told Shafaq News Agency that this move confirms that the United States no longer deals with Iraq as a separate or isolated case with its internal particularities, but rather as part of a broader regional security and geopolitical architecture.
He added that this trend represents a shift from the American approach that has prevailed since 2003, which focused on democracy and development, to a regional approach that views Iraq from the perspective of regional balances, with the aim of reducing Iranian influence and redirecting the geopolitical course of the two countries in a way that serves American interests.
He considered the regional challenge in Iraq to be the biggest obstacle. While Turkey, Washington’s ally, was the most influential power in post-Assad Syria, Barak faced deep and multifaceted Iranian influence in Iraq that would undermine his objectives, making his new mission a real test of Washington’s ability to reshape the balance of power in a highly fragmented arena.
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CAN IRAQ BE TRUSTED YET?
Then in this next article titled “THE FILE OF IRAQI FUNDS IN THE US FEDERAL RESERVE: FROM OCCUPATION TO TEMPORARY IMMUNITY” we learn the issue of Iraqi funds deposited in accounts at the US Federal Reserve is one of the most complex financial files in Iraq’s modern financial history. These funds are linked to a series of UN resolutions and international sanctions that have shaped the Iraqi economy since the former regime’s invasion of Kuwait on August 2, 1990, to the present day.
I believe it will be a longer time than we think before Iraq will be independent from these funds and petro-dollars will continue to flow into these funds as long as Iraq is uncapable of fully governing itself responsibly from a world view and of responsibly joining the global community once again. You can read the entire article. It is VERY informative but long.
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2026 BUDGET:
BUDGET MONEY IS A GOOD WAY TO GET CORRUPT MONEY OUT OF THE IRAQI TREASURY:
In this next article we see that still there is corruption going on and money somehow leaving Iraq that was supposed to go to budgeting projects to rebuild Iraq. It is titled “A HUGE FINANCIAL SURPLUS… AND A SERVICE REALITY THAT HAS NOT CHANGED: WHAT HAPPENED?”
This article just reinforces again what my CBI contact told me weeks ago. Yes, more proof….She said THERE IS NO REAL FINANCIAL CRISIS IN IRAQ at least not as they exaggerate. This notion only comes about when money is wasted and corrupted. Then we read propaganda. Is this going to be the history of Iraq in the future too. When will all the corruption end?
The era of Mustafa Al-Kadhimi has sparked widespread controversy that continues to resurface whenever the issue of managing public funds and oil surpluses is raised, especially in light of talk about huge sums that entered the state treasury during the period of high oil prices, compared to a clear limitation in the size of service and development projects completed on the ground.
While supporters of that phase promote the idea of “financial stability” and crisis management in a difficult economic situation, critics argue that the surpluses that were subsequently achieved did not translate into a real reconstruction boom.
Folks, their words not mine. If it was up to me I would RV today…. lol.. lol.. lol..
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2026 BUDGET UPDATE:
F.Y.I. Do you actually think Iraq will get a 2026 budget to parliament, then passed after two readings and get it all done in 2026? Are you nuts or what? If even they did do it, it will be too late in 2026 and the year will be over anyhow. Remember that budgets always get kicked back to the cabinet for revisal too, usually a few times. The good news in all this is that, if this does happen, it could kick the 2026 budget to 2027 and this approach would speed up the economic development drastically starting 2027 with a fresh and timely budget to start the new fiscal year. Oh…. I don’t believe this has EVER happened before….. The other good point is this budget stuff may spark off a bit of creativity to reform the entire budget process in the near future. Can they get a consulting group in to help them? Watch a couple months from now we will be reading articles on these consultants. Someone is reading my Newsletters! 😊Yes, the glass is always half full rather than empty.
Yes, Iraq has a budget process issue, as usual they have not figured it all out yet. The legislature is supposed to get the budget to parliament by Oct 1st, then parliament has three months to review it, revise and challenge it and pass it by the 1st of the new year. Their fiscal year begins Jan 1st not Oct 1st as most of these intel gurus tell you. It does make a huge difference in reading the articles in knowing the TRUTH.
I just wanted to add one more note. If you are so concerned about the budget for 2026 because you think the new RV rate is in it then you are WRONG, WRONG and WRONG again. Did I mention also very gullible! The RV rate we want is NOT stated in the budget tables nor will it ever be. This is totally bizarre intel guru made up stuff by idiots. Get it? The budget is based off of the price of oil per barrel not the rate of the dinar. Do you actually believe for one darn second that they would publish the new rate of the dinar in the budget for public viewing then go to FOREX? Did you ever hear of ‘insider trading’? If you do, you are insane along with the rest of these intel gurus?
Next, we see some hope in that again Iraq is desperately trying not to borrow money and go down that road again. Instead, they are trying to maintain some sort of fiscal responsibility in cutting low priority projects for their next budget. This part really makes me proud of Iraqi leaders in the Finance Committee! 😊 The article is titled “GOVERNMENT ADVISOR: THE 2026 BUDGET WILL FOCUS ON REDUCING UNNECESSARY SPENDING.”
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Friday that the 2026 budget will focus on reducing unnecessary spending and ensuring funding for vital sectors directly related to citizens’ lives.
Salih stated, “In light of the escalating crisis in the Strait of Hormuz, through which the world’s oil artery passes amidst anxiety and tension, Iraq finds itself facing a dual challenge: how to successfully enact its 2026 budget amidst regional turmoil that threatens its oil exports, while simultaneously maintaining internal financial stability.” He added, “The budget is no longer merely an accounting document or a set of figures; it has become a political and economic equation reflecting the nature of the Iraqi economy, which is based on oil revenues, and simultaneously revealing the state’s ability to manage its financial resources prudently and efficiently in a highly volatile and fragile regional environment.”
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In this next article we can see the difficulty for this next budget. We can see that it is June already half way through 2026 and so by the time they do get a budget to parliament it will be late fall already. What good will it do? The article is titled “MP: THE 2026 BUDGET WILL BE THE MOST COMPLEX COMPARED TO PREVIOUS YEARS”
MP Mohammed al-Bayati confirmed on Monday that there is still no set date for the 2026 budget to be presented, noting that it will be the most difficult and complex compared to previous budget cycles. He added, “If presented (if it even makes it to parliament this year), the budget will be the most difficult and complex compared to previous years, due to the financial and economic challenges, as well as the repercussions of what is currently happening in the Arabian Gulf.”
He pointed out that “Iraq has lost the ability to export more than 90% of its crude oil, which is the main source of revenue for the state treasury,” indicating that “the country’s financial situation is difficult by all measures.”
Round and round they go on their Merry Go Round…. lol.. lol.. lol..
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PMF UPDATE:
😊 This next article gives us an update on the efforts to deal with the Iranian PMF and terrorists factions inside Iraq. I think the title speaks for itself. It is titled “THE FRAMEWORK IS IN DISARRAY… AND THE SPECTER OF DISBANDING THE POPULAR MOBILIZATION FORCES LOOMS OVER THE NEGOTIATIONS.”
Signals from Petraeus: No further deadline for the factions, and the dollar is Washington’s card (carrot). The first American signals regarding the message conveyed through retired US General David Petraeus have reached Baghdad, but they did not carry what the Shiite forces, seeking to buy time, were hoping for.
Political sources describe these responses as “unreassuring,” while reinforcing the impression within the “Coordination Framework” that Washington has finalized its position on the issue of armed factions, and that the room for maneuver that Baghdad tried to open up in recent weeks appears narrower than previously thought.
At the very moment when some factions within the “Framework” were searching for political solutions to resolve the weapons issue in exchange for maintaining their influence within the new government, Muqtada al-Sadr, leader of the Shiite National Movement (Sadr Movement), surprised his rivals with a preemptive move, announcing the disassociation of the “Peace Brigades” from the movement. This has placed the remaining factions before a reality they can no longer easily postpone. (that is to disband them)
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😊 Will we see the PMF and factions in Iraq disbanded and disarmed soon not months or even years from now. Indications show it will be much sooner than many of you think so STOP all your baby complaining…… The article’s titled is “TRUMP’S ENVOY: RETURNING WEAPONS TO THE STATE MARKS THE BEGINNING OF A NEW ERA IN IRAQ”
US President Donald Trump on Tuesday denied that talks between the United States and Iran had stalled in recent days, calling reports to the contrary “false and wrong,” and asserting that talks between the two sides continued uninterrupted. Trump added, in a post on the Truth Social platform, that talks with Iran took place 4 days, 3 days, 2 days and 1 day ago, and continued today, denying the validity of reports that spoke of their suspension.
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UPDATE ON THE IRANIAN CONFLICT
One last bit of news on an update on the Iran conflict. Remember this news changes so fast but here is the latest anyhow from when I read it on Friday. It is titled “NEW YORK TIMES: TRUMP MADE NO IMMEDIATE DECISION AFTER TWO-HOUR MEETING ON IRAN”
US President Donald Trump concluded a meeting on Friday that had been presented earlier as being for a final decision on reaching an understanding with Iran, according to a White House official. The official did not clarify whether Trump made a decision or not at this meeting, which was held in the White House operations room, according to AFP. The New York Times reported that the meeting lasted two hours and that Trump did not make any immediate decision as a result.
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Let’s keep our prayers alive. There is a deep spiritual dimension at work today bringing about this reset. I believe we are closer than ever for the dinar to get reinstated. But first things first. part of the mess in the US must be cleaned up too.. Then certain laws in Iraq must be passed. By now everyone should be fully aware of these events that caused delays in the currency reform process. This is not rocket science to understand.
What do you think will happen next? (Leave a comment)
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
These prophecies are more important now more than ever. They give us the strength, perseverance and hope that a better time is coming and that God’s Hand is at work behind the scenes. If you just take a second even to look around you at these past three election cycles, how can you deny that God is at work? Are you sleeping or what?
It is amazing and there is no other way that these events could have happened the way they turned out. But there is more to come, much, much more, I assure you! Now that God has his biblical David re-elected, we need to pay attention to what He does next.
NOTE: These prophecies just keep getting better and better, giving us HOPE of a brighter future. But the real reason why I listen to them is that we can actually see what God says He will do is taking place right in front of our noses. It is a confirmation to me that God is real and is still with us forever just as in biblical times.
Prophetic Words from the prophets: Julie Green
“Proof Is Coming Where All Your Tax Money Has Truly Gone ”
Go to the 17:22 mark in video for the prophecy. From May 23rd.
“The 2026 Midterms Will Not Be Stolen ”
Go to the 21:46 mark in video for the prophecy. From May 22nd.
Fr. DON BOSCO EXPOSED THE DARK SECRET BEHIND ISLAM
— And the Truth the World Forgot about the so-called Muslim religion. Fr.Don Bosco, also known as John Bosco, was an Italian Catholic priest and educator, born on August 16, 1815. He founded the Salesian Society in 1859 to help disadvantaged youth, particularly boys, through education and community service. His teachings emphasized lovekindness, and the importance of education for young people, making him a beloved figure in Catholicism and a patron saint of youth. Don Bosco was canonized in 1934.
A NEW FINANCIAL REGIME COMING TO THE U.S.
THE FED’S NEW PLAN TO SHRINK THE US $40T DEBT WITHOUT PAYING IT BACK
The Central Banking System, to which the Federal Reserve is part of, was set up as a wealth transfer system in 1913. Money would transfer from the many to the few. The few being the very wealthy the many being the general populus. They did this by a sly system of spend and tax. Now the reverse is about to happen. The money is going to flow back in the many citizens pockets from the very rich.
This will occur not in a socialist communist way, as many fear will happen or what Bernie Sanders, Mamdani, AOC and other socialist want. They only perpetuate the same old lies and scam but just in a different way. Again, their way is to the very few at the top, taking from us ordinary citizens. They know it too and that’s their real goal. All you need to do is study communism and it become very clear. They plan to do by tight control and scarcity. That is how they maintain control.
But the Trump administration is not going to let this happen. If you are paying attention to the financial wave that is about to take place you can see it is all about expanding and encouraging capitalism. Then at the same time getting out of the corrupt Central Banking System that is the main cause of it.
You have to watch this one!!!!
JPMORGAN CEO: THIS IS WHY KEVIN WARSH CAN’T ‘ACTUALLY CHANGE ANYTHING IN SIX MONTHS’ AS FED CHAIR
Go to 1:06 mark in this video and listen carefully the next few sentences of Jamie Dimon. Oh… can you see it now too… the foolishness goes right back to climate change, DEI, massive rules and regulations, etc., again. All this crap has also even infiltrated the old Federal Reserve. Time to clean it out too. As Dimon says its all just wasteful spending giving us nothing in return.
Why was the Fed getting involved with this stuff? The Feds became much more than just a financial regulator but using this power of the purse to make social change and that’s where the problems began. But who was dictating these mandates to them to push on the US? Was it some outside force such as the World Economic Forum, the United Nations Council of Foreign Relations? How dare they enforce these mandates on a sovereign nation! Most did not even know this was happening. Oh… I guess you’re no longer a free and sovereign nation, when you follow this global order from all these crazy people, are you?
CHANGE, CHANGE, CHANGE IS COMING TO AUSTRALIA TOO.
I mentioned Australia many times already in my Newsletter and how God talked to His prophets about changes coming to the developed countries around the world. He said it would begin in the U.S. and then branch out to the rest of the world. Like a cancer, this woke global ideology has spread but now it is time to combat it and inject these ideas out of our culture.
These are bad ideas as we know from experiencing them so far. We are not just screaming ‘wolf’ for nothing…..They are not working. They are destructive. They are only having negative not positive impacts on society. It is not just a matter of acceptance as these globalists will tell you, as we tried them and they simply not working and so let’s move on. If you truly study this ideology, it is also a satanic culture in nature and only destroys the very fabric of our societies. Just look at what it does. Biological men dressed up like women thinking even they can have kids. Then playing in women’s sports, thinking they are woman. I am not going to go too much deeper into this satanic sexual revolution as it is very deep and scary what they have done.
Yes, change from this bizarre globalist ideology and takeover of our countries. The citizens in Australia now want change as they too have had enough. It is coming. How long it will take depends on how strongly they really want back their freedom. It also depends on how intertwined this ideology is already in our culture. Changing back could be hard.
Yes, we have to unravel it and undo even all the tiniest of threads. I will give you just a couple of examples of what I mean by unraveling it. Just recently the War Dept of the U.S. began working with the Boy Scouts of America too unravel the DEI mess they have created following DEI mandates. I never thought it was this bad.
A LOOK BACK. HOW DID IT BEGIN?
Kirk was warning us….. This is from 8 years ago. What I want to know is who from the top brought this nonsense into our culture? Oh… was it the UN global mandates again? Please take the time to go read the UN Agendas 2021, 2030 and 2050 and see just how bad this stuff is. I will even give you the links above this is how important it is right now for you to see what they are upto. Don’t be followed by all the nice and comfortable wording. We need to look at the impact both economically as well as environmentally. Afterall we also have to live in this world too. We can worship the earth, hug trees, or realize that God gave it to us to use while we are here to use. Yes, we must also be responsible and care for it too. But we can’t keep hugging trees while we have massive unemployment, drugs, destroy our cities, homelessness in our streets, massive debt and control over our liberties and freedoms. This is not how God intended it to be. Sorry UN your thinking is all about more and more control not abundance and prosperity.
Also the ditching of mandatory COVID and FLU vaccines to military members. It is one thing to realize the past mistakes made and how these mistakes are destroying our culture. But we have to then stop it and sadly this takes effort and a lot of undoing.
HOW DO THESE CROOKED POLITICIANS GET INTO OUR POLITICS ANYHOW?
These are usually totally unqualified people to run any government. Most don’t know finance, economics or even the very basics of what societies need to thrive. Most have no common sense and are actually activists not really politicians. They are seeded into our governments to implement the agenda of their masters, the globalists. We must always be careful of the Trojan Horse as they will make promises, but what is really their agenda behind all the promises. We see this in NYC as a very good example. How long will it take for him to fall?
MANY THINGS WE HEARD WOULD HAPPEN, ARE HAPPENING. THIS IS THE TIME.
8 STATES CUTTING PROPERTY TAXES TO ZERO OR NEAR ZERO
Will your state be next?
I can see that Florida is getting all the attention when it comes to property taxes, and rightfully so. However there are many states also taking up the task of significantly reducing or eliminating totally these property taxes. Each state seems to have their own unique way of handling it.
1.Florida, 2. Illinois, 3. Kansas, 4. Ohio, 5. North Dakota, 6. Pennsylvania, 7. Texas,
8. Michigan
My main point in sharing this presentation is three fold:
First, if you live in one of these states you may shortly not have the financial burden of having to pay property taxes on your first home. Wouldn’t this be wonderful?
Secondly, is that state legislators are finally getting off their asses and looking at creative ways to offset or entirely pay for funding the government that usually was done through property taxes. I believe this is happened as a new wave of conservative law makers are finally listening to the people.
Thirdly, it is now a popular campaign issue to solve and could get you voted into office for multiple terms but only if you address the issue wisely and don’t just shift the taxes.
I know many of you are following this NESARA / GESARA nonsense so let me say that if you are now thinking in terms of NESARA, think again! Like I have been telling you all along these cuts in taxes have nothing to do with this piece of legislation that was never passed into law by Congress. I don’t care who tells you otherwise. I have done extensive research on it. It is all just fools listening to other fools. But let me also add this that the provisions and principles of NESARA / GESARA may still be implemented and are mostly very sound. We can see they are being taken seriously by the Trump administration. But please stop this secret NESARA bill, White Hat nonsense. Instead, it will be the work of many creative and ambitious people who are trying to make a difference in our lives in spite of the all the corruption that surrounds us.
May God Bless them all !
TEXAS JUST BLEW UP PROPERTY TAXES
WHAT’S HAPPENING WITH CUBA?
THE TRUTH ABOUT CUBA
HER MESSAGE IS SIMPLE: DO NOT LET AMERICA BECOME A MUSLIM COUNTRY
You only need to do is take the example from what happened in the UK and you won’t like it….. I assure you! We see Detroit and parts of Minnesota becoming more and more like the middle east. I won’t get on my lecture again on how Muslims are not about assimilated but rather making America their Muslim country. Here is yet more proof.
Again UN Agenda 2030….. go read it. 2030 Forced mandates, not just good ideas.
This is sad when the elderly don’t recognize their own country they grew up in.
TRUMP SURVIVES YET ANOTHER ASSASSINATION ATTEMPT AFTER SHOTS FIRED AT WHITE HOUSE
How many does this make now. I think its five? They really don’t want Trump to have another 2 years.
I have created a brand-new “Post RV Workshop” page in the blog. I included my own personal tips on investing post-RV and also organizing and protecting your estate. Here is the LINK. Going forward I will only post new and exciting information and opportunities here on the Latest Newsletter as they come along. Later I will transfer it to the ‘Post RV Workshop’ page in subsequent Newsletters for your future reference.
Just so you know I absolutely DO NOT adhere to high-risk investments where you can lose it all in a flash. Look at it this way – you are going to have all this money from your dinar exchange. Then why blow it! Most of us investors waited decades for this RV to happen and so why would you even think about pissing is all away in some high-risk gamble of an investment. Yes, there are going to be scammers out there but let’s talk about legitimate investment opportunities only. These scammers can suck you dry and there is not a damned thing you can do about it.
Go to a legitimate wealth manager associated with your bank. Let the licensed experts advise you. Please, please stay away from idiots like MarkZ, TNT Tony, Bruce (on the Big Stupid Call), etc. , etc. Go to professionals. It doesn’t mean you have to follow everything they advise you but it’s a great start. Remember they too are selling investment products and get commissions.
Nothing new to report today. Please see the blog section on the other great news on this subject matter here LINK.
“IT’S NO LONGER A SEPARATE ISSUE”: WASHINGTON IS RESHAPING ITS PRIORITIES IN IRAQ.
On Sunday, US President Donald Trump announced the appointment of Washington’s ambassador to Ankara, Tom Barrack, as a special presidential envoy to Iraq and Syria. Trump said in a post on the Truth Social platform that “Tom Barrack will continue his duties as ambassador to Turkey and will perform his new duties with the full support of the State Department.”
US Secretary of State Marco Rubio confirmed last Saturday that Barak will continue to play a leading role in the Syria and Iraq files within President Donald Trump’s administration, despite the end of his term as special envoy to Syria.
Barak, the US ambassador to Turkey, took over the role of special envoy to Syria in May 2025, in parallel with the Trump administration’s moves to reformulate its approach to the Syrian issue and lift sanctions on Damascus, in light of Turkey’s growing role in the Syrian issue.
Rubio’s statements give an official dimension to the broader role that Barak has begun to play practically in Iraq as well, after he emerged during the past period at the forefront of American communications with Baghdad, following the failure of Mark Savaya to officially assume the position of Special Envoy to Iraq.
Diler Khalaf Osman, a researcher in international relations and Middle Eastern affairs at the University of Tennessee, confirmed on Monday that Washington’s decision to merge the Iraq and Syria files under the supervision of a single envoy reflects a fundamental shift in the American strategy towards the region.
Osman told Shafaq News Agency that this move confirms that the United States no longer deals with Iraq as a separate or isolated case with its internal particularities, but rather as part of a broader regional security and geopolitical architecture.
He added that this trend represents a shift from the American approach that has prevailed since 2003, which focused on democracy and development, to a regional approach that views Iraq from the perspective of regional balances, with the aim of reducing Iranian influence and redirecting the geopolitical course of the two countries in a way that serves American interests.
The researcher pointed out that the background of the new envoy, Tom Barrack, and his ideology related to the idea of “America First” reveal the features of his mission, as he does not seem concerned with the files of democracy, federalism and political pluralism as much as he is concerned with strengthening the central state and its security capabilities, to ensure that it does not pose any threat to American interests, and to enable it to manage its security itself in the long term, which reduces the need for a direct American military presence.
Osman predicted that Barak’s sharp style and his quick and influential decisions, which characterized his management of the Syrian file, would be reflected in his handling of the Iraqi file, indicating that the challenges Barak will face in Baghdad will be more complex and intertwined compared to the Syrian file, given the multiplicity of power centers and their distribution among different political components and entities in Iraq, without a single entity or organization controlling the state completely.
He considered the regional challenge in Iraq to be the biggest obstacle. While Turkey, Washington’s ally, was the most influential power in post-Assad Syria, Barak faced deep and multifaceted Iranian influence in Iraq that would undermine his objectives, making his new mission a real test of Washington’s ability to reshape the balance of power in a highly fragmented arena.
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GOVERNMENT ADVISOR: THE 2026 BUDGET WILL FOCUS ON REDUCING UNNECESSARY SPENDING.
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Friday that the 2026 budget will focus on reducing unnecessary spending and ensuring funding for vital sectors directly related to citizens’ lives. He also indicated that continuing to operate under the amended Federal Financial Management Law No. (6) of 2019 remains a constitutional and financial option should the budget’s approval be delayed.
Salih stated, “In light of the escalating crisis in the Strait of Hormuz, through which the world’s oil artery passes amidst anxiety and tension, Iraq finds itself facing a dual challenge: how to successfully enact its 2026 budget amidst regional turmoil that threatens its oil exports, while simultaneously maintaining internal financial stability.”
He added, “The budget is no longer merely an accounting document or a set of figures; it has become a political and economic equation reflecting the nature of the Iraqi economy, which is based on oil revenues, and simultaneously revealing the state’s ability to manage its financial resources prudently and efficiently in a highly volatile and fragile regional environment.”
He added, “Given the escalating geopolitical conflict in the Middle East and the accompanying direct and indirect threats to maritime navigation and energy flows in the Strait of Hormuz, the possibility of enacting Iraq’s 2026 budget appears constitutionally and politically viable. However, it will be one of the most sensitive and complex budgets in Iraq’s modern financial history due to the intrinsic link between the Iraqi economy and global oil markets.”
He pointed out that “Iraq still relies almost entirely on oil revenues to finance salaries, pensions, social welfare, general operating expenses, and investment projects. This makes any disruption to exports through the Gulf a direct pressure on the country’s financial and monetary stability.” He noted that “the financial authorities are expected to prepare a more conservative budget based on prudent oil assumptions, reducing unnecessary spending and reprioritizing expenditures to protect social spending related to salaries, pensions, social welfare, and basic services, as well as ensuring funding for vital sectors directly impacting citizens’ lives and their economic stability.”
He explained that “conversely, geopolitical crises often drive up global oil prices, which could provide Iraq with temporary financial relief, mitigating the deficit and offering an opportunity to pass the 2026 budget without a direct financial collapse, especially if the financial administration succeeds in managing oil revenues efficiently, activating export alternatives, reducing financial waste, and increasing the efficiency of public spending.”
He stated that “continuing to operate under the amended Federal Financial Management Law No. (6) of 2019 remains a constitutional and financial option if the budget’s approval is delayed due to continued uncertainty and tension in the regional landscape.”
He pointed out that “the real challenge lies not in the debate surrounding the enactment of the 2026 federal budget law itself, but rather in the ability of public finances to ensure the sustainability of funding amidst a turbulent regional environment and an economy that relies almost exclusively on oil.”
He explained that “the 2026 budget, if it is enacted under the current geopolitical climate, appears to be closer to a (crisis management budget) than to a budget for economic expansion or long-term sustainable development, which requires the legislative and executive authorities to deal with it with economic rationality and financial realism, far from containment policies, immediate reactions and ill-considered emergency spending.”
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AFTER THE DEPLETION OF STATE-OWNED BANKS, THE CENTRAL BANK FACES THE BURDEN OF FINANCING.
Economist Mahmoud Dagher gave a briefing on the liquidity crisis facing government banks and its implications for the state’s ability to finance its needs through domestic borrowing, warning of continued financial pressures if the current crisis lasts for an extended period.
Dagher told Al-Jarida that “the low level of liquidity in government banks makes it difficult to resort to them to achieve internal borrowing, which prompted the Ministry of Finance to transfer remittances to the Central Bank for discounting instead of having them discounted by government banks.”
He added that “this measure leads to additional pressure on the debt-backed central bank budget,” indicating that “the continuation of the crisis for a longer period may force the government to look for alternative solutions, foremost among them being reducing public spending and rationalizing expenditures to limit the increasing financial pressures.”
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NEW YORK TIMES: TRUMP MADE NO IMMEDIATE DECISION AFTER TWO-HOUR MEETING ON IRAN
US President Donald Trump concluded a meeting on Friday that had been presented earlier as being for a final decision on reaching an understanding with Iran, according to a White House official.
The official did not clarify whether Trump made a decision or not at this meeting, which was held in the White House operations room, according to AFP. The New York Times reported that the meeting lasted two hours and that Trump did not make any immediate decision as a result.
Prior to his meeting, US President Donald Trump announced the terms and principles of a potential agreement with Tehran to end tensions between the two countries, revealing strict conditions related to the nuclear issue, freedom of navigation in the Strait of Hormuz, and sensitive security and military matters.
In a lengthy post published on his official Truth Social account (May 29, 2026), Trump stressed that the essential and crucial condition is “Iran’s absolute agreement not to possess a nuclear weapon at all and at any time.” Regarding international maritime security, the US president obliged Tehran to immediately open the Strait of Hormuz to ship traffic in both directions without restrictions or imposing any fees.
At the same time, he announced the lifting of the US naval blockade, which he described as “unique and amazing,” and confirmed that the stranded ships could now return home.
Trump also addressed the issue of sea mines in the region, noting that advanced American mine-clearing vessels had succeeded in destroying the majority of them.
He called on the Iranian side to immediately end the dismantling and detonation of the remaining mines, which he described as few in number.
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THE FRAMEWORK IS IN DISARRAY… AND THE SPECTER OF DISBANDING THE POPULAR MOBILIZATION FORCES LOOMS OVER THE NEGOTIATIONS.
Signals from Petraeus: No further deadline for the factions, and the dollar is Washington’s card.
According to information obtained by Al-Mada, the first American signals regarding the message conveyed through retired US General David Petraeus have reached Baghdad, but they did not carry what the Shiite forces, seeking to buy time, were hoping for.
Political sources describe these responses as “unreassuring,” while reinforcing the impression within the “Coordination Framework” that Washington has finalized its position on the issue of armed factions, and that the room for maneuver that Baghdad tried to open up in recent weeks appears narrower than previously thought.
At the very moment when some factions within the “Framework” were searching for political solutions to resolve the weapons issue in exchange for maintaining their influence within the new government, Muqtada al-Sadr, leader of the Shiite National Movement (Sadr Movement), surprised his rivals with a preemptive move, announcing the disassociation of the “Peace Brigades” from the movement. This has placed the remaining factions before a reality they can no longer easily postpone.
While al-Sadr is making progress on the weapons issue, other Shia forces appear to be taking one step forward and then another back, amidst clear confusion about how to deal with escalating American pressure and fears that the disarmament process could shift from a mere reorganization of factions to a broader course that might ultimately redefine the Popular Mobilization Forces’ position within the state.
During the recent Eid holiday, Shia circles were preoccupied with reviewing their options amidst leaks suggesting disagreements regarding the mechanisms for dismantling armed headquarters, the form of integration within security institutions, and which entities would refuse to comply with any new settlement. Political sources close to the “Coordination Framework”
told Al-Mada that “categorical and non-negotiable” American messages were delivered to Iraqi political leaders following Petraeus’s visit to Baghdad. These messages included an explicit rejection of any figure affiliated with armed factions assuming ministerial portfolios in the new government.
According to the sources, Washington linked this stance to sensitive economic and financial matters, including dollar shipments and Iraqi assets, as well as considerations related to American, regional, and Gulf interests.
Sources add that some political leaders preferred to keep the content of those messages secret for fear of triggering a new crisis within the “coordination framework.” Meanwhile, alternative options are being discussed, involving the appointment of figures described as “independent technocrats” to head the contentious ministries, in an attempt to avoid a political clash that could negatively impact the economic situation.
In the first American comment on the controversial visit, a US State Department official told Al-Mada that David Petraeus is “a private citizen and does not play any official role with the US diplomatic mission in Iraq.”
The American position came after a report published by Al-Mada last week about Petraeus’s appearance in Baghdad for the first time in nearly two decades, amid reports of an Iraqi initiative aimed at securing a lull of several months before making final decisions regarding the armed factions.
Although sources denied that Petraeus was an official envoy of US President Donald Trump, they confirmed that Prime Minister Ali al-Zaidi used his old relationship with the American general, dating back to the “Awakening” years between 2006 and 2007, to try to find an indirect channel of communication with Washington and reduce the chances of confrontation with the factions.
According to this account, Petraeus carried an Iraqi message requesting that Baghdad be given a three-month grace period to place the factions under strict control. The government would commit to immediately canceling any agreements if attacks against Erbil, embassies, or vital installations resumed. This information could not be independently verified. In a move that disrupted the calculations of his rivals within the Shia political establishment, Muqtadaal-Sadr, leader of the Shia National Movement, announced the disassociation of the Peace Brigades from his movement. He also announced the transformation of its civilian formations into official institutions, stripped of weapons, headquarters, and organizational titles, emphasizing that the decision stemmed from “the public interest.”
Sadr did not stop at relinquishing the movement’s military wing; he called on the remaining Popular Mobilization Forces factions to distance themselves from partisan and sectarian frameworks, fully integrate under state authority, and surrender their weapons. This vision is based on consolidating weapons under government control and regulating the activities of armed groups according to specific legal and time-bound frameworks.
Observers viewed this move as an attempt to preempt internal and external pressures related to the weapons issue and to present the remaining factions with a similar obligation that they may find difficult to ignore in the future.
Researcher and academic Mohammed Naanaa believes that the current situation goes beyond the mere issue of weapons. He told Al-Mada that restricting weapons to the state “is not the sole objective in the state-building process, but merely the primary one, followed by holding the killers and corrupt officials accountable.” He added that what al-Sadr initiated of his own volition “will not be available to others, who will be forced into what they do not want.”
The initiative quickly moved from the level of political pronouncements to the executive branch. Last Friday, the committee appointed by al-Sadr announced that it had held its first meeting to oversee the formal disaffiliation of the Peace Brigades.
Al-Sadr’s office stated that the committee commenced its work in accordance with the directives of the movement’s leader, which stipulated the completion of the procedures for separating the Peace Brigades’ military wing from the Shiite national movement within a maximum period of one week, and the follow-up on the organizational and administrative aspects related to the decision.
Information obtained by Al-Mada indicates that Prime Minister Ali al-Zaidi intends, during the first 100 days of his government, to establish specific mechanisms for dealing with the six factions listed on the US blacklist, in parallel with reopening several major corruption cases, including that of Noor Zuhair.
According to this information, al-Zaidi held a series of discreet consultations with armed factions during his tenure, within a tripartite committee that also included former Prime Minister Mohammed Shia al-Sudani and Badr Organization leader Hadi al-Amiri. The data suggests that these discussions resulted in unannounced understandings that excluded armed groups from ministerial positions in the new government.
Leaks from within the “coordination framework” indicate that al-Zaidi received a “green light” to proceed with measures related to the weapons file during a call he had with Muqtada al-Sadr approximately two weeks prior.
From the early days of al-Zaydi’s appointment, al-Sadr had put forward a clear vision for dealing with the issue, when he called on the prime minister-designate to transform the armed factions into a formation called “Soldiers of Religious Rites” under the supervision of the Hajj and Umrah Authority, or into humanitarian institutions specializing in relief and aid, while considering any party that refuses this as “outlaws.”
Al-Sadr stated at the time, “If they do so, I am prepared to dissolve the Promised Day Brigade and hand over the Peace Brigades to the Commander-in-Chief of the Armed Forces. Everyone should do this as quickly as possible.”
These steps are part of a series of internal reviews that al-Sadr initiated about a month prior, which included removing several leaders, confiscating vehicles and weapons from a number of his followers, and expelling dozens from the movement. Those close to him described this as a process to restructure the organization and reorganize its affairs in preparation for a different political phase.
Regarding Muqtada al-Sadr’s move, data within the “Coordination Framework” indicates a clear division in positions on the issue of weapons. According to Health Minister Abdul Hussein al-Moussawi, a leader in the Virtue Party, five out of seven factions have agreed to proceed with the disarmament process in exchange for guarantees.
Political circles suggest that these factions include Asa’ib Ahl al-Haq, led by Qais al-Khazali; the Badr Organization, led by Hadi al-Amiri; as well as Kata’ib Sayyid al-Shuhada, Thaar Allah, and Kata’ib al-Imam Ali.
Multiple sources indicate that al-Amiri is managing the most important part of the negotiations concerning the armed factions, through the committee formed after al-Zaidi’s appointment. This committee is believed to be working in parallel with a proposal by the leader of the Badr Organization to establish a “Federal Security Ministry,” which would encompass the Popular Mobilization Forces (PMF), the Rapid Response Forces, the Federal Police, the Border Security Forces, and possibly the Peshmerga as well.
Mahmoud al-Hayani, a member of the Badr Organization, believes this proposal represents the “best solution” for protecting the rights of PMF members and ensuring the armed groups’ subordination to the government’s authority. In an interview with Al-Mada, he pointed to leaks suggesting preliminary approval of the idea from retired US General David Petraeus, despite the absence of any official US position.
However, despite these proposals, the mechanism for dealing with the armed factions remains unclear. According to political sources, the proposed integration or restructuring plans may not be sufficient to convince Washington, nor do they necessarily guarantee the factions positions within the executive branch.
According to political sources, the US veto contributed to the obstruction of the confirmation of nine ministerial candidates, due to Washington’s refusal to grant any positions to figures affiliated with or associated with armed factions.
Meanwhile, some Shia circles view these developments as a prelude to targeting the Popular Mobilization Forces themselves. An official from one of the armed groups told Al-Mada that “disarmament is nothing but a way to circumvent and dismantle the Popular Mobilization Forces under the guise of handing over weapons to the government or enforcing the law in response to American pressure.”
This stance reflects the extent of the skepticism held by some factions regarding the current course of action, especially given the continued refusal of influential groups, such as Harakat al-Nujaba and Kataib Hezbollah, to discuss any disarmament.
In this context, the so-called “Islamic Resistance in Iraq” announced that it will not lay down its weapons or hand them over to the government “as long as the occupation continues,” according to news outlets.
Abu Mahdi al-Jaafari, spokesman for Saraya Awliya al-Dam, who presented himself as a representative of the “Islamic Resistance in Iraq” in widely circulated statements, confirmed that the issue of disarmament “is not up for discussion at the present time,” adding: “There will beno talk of laying down or handing over weapons until the injustice and occupation end in Iraq.”
Al-Jaafari criticized those calling for the disarmament of the factions, saying that these parties “used to describe the resistance as heroes during the war, but they forget the names of those who defended Iraq when peace returns.”
Between factions that have expressed a willingness to participate in state arrangements and others that still refuse even to discuss the issue, it seems that the battle over weapons in Iraq has not yet moved to the implementation phase. Rather, it remains confined to the realm of understandings and mutual guarantees, amidst increasing American pressure and internal fears that the current trajectory will lead to a reshaping of the Popular Mobilization Forces and their role in the next phase.
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TRUMP’S ENVOY: RETURNING WEAPONS TO THE STATE MARKS THE BEGINNING OF A NEW ERA IN IRAQ
US President Donald Trump on Tuesday denied that talks between the United States and Iran had stalled in recent days, calling reports to the contrary “false and wrong,” and asserting that talks between the two sides continued uninterrupted. Trump added, in a post on the Truth Social platform, that talks with Iran took place 4 days, 3 days, 2 days and 1 day ago, and continued today, denying the validity of reports that spoke of their suspension.
The US president indicated that the course of these talks remains unclear, saying: “Where these talks will lead, nobody knows.” Trump confirmed that he had told Iran that it was time to reach an agreement, adding: “It’s time, one way or another, to make a deal. You’ve been doing this for 47 years, and it can’t be allowed to continue any longer.”
Iran’s semi-official Fars News Agency reported on Tuesday that the exchange of messages between Iran and the United States aimed at “reaching a memorandum of understanding and an agreement to end the war” had stopped a few days ago.
Earlier today, a source close to the Iranian negotiating delegation revealed that the text of the proposed memorandum of understanding between Iran and the United States is still under review in Tehran, confirming that the Iranian side has not yet sent any official response.
In contrast, US Secretary of State Marco Rubio announced on Tuesday that there was progress in negotiations with Iran regarding the nuclear program.
Rubio stated in a press conference that the Iranians had agreed to negotiate the abandonment of their nuclear program. The United States is currently negotiating with Iran on points in the nuclear file that it had previously refused to address, as well as on many other issues.
US President Donald Trump confirmed on Monday that he had not received any response from Iran regarding reports that talks had been suspended. Trump’s statement came hours after Iranian media confirmed that Tehran had suspended the exchange of messages with Washington in protest against the Israeli bombing in Lebanon.
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THE FILE OF IRAQI FUNDS IN THE US FEDERAL RESERVE: FROM OCCUPATION TO TEMPORARY IMMUNITY
The issue of Iraqi funds deposited in accounts at the US Federal Reserve is one of the most complex financial files in Iraq’s modern financial history. These funds are linked to a series of UN resolutions and international sanctions that have shaped the Iraqi economy since the former regime’s invasion of Kuwait on August 2, 1990, to the present day.
Resolution (1483) Legal and Economic Framework
UN Security Council Resolution 1483, adopted unanimously on May 22, 2003, established the legal and economic framework for managing Iraqi oil revenues following the US-led invasion of Iraq on April 9, 2003. The resolution was adopted under Chapter VII of the UN Charter, giving it international legal force. Its key features include:
– Recognition of the occupying power: The resolution explicitly recognized the United States and its allies as occupying powers under a unified command called the “Coalition Provisional Authority,” and obliged them to act in accordance with the United Nations Charter and international law, particularly the 1949 Geneva Conventions, to guarantee the rights of the Iraqi people.
Lifting the sanctions: The resolution ended the international isolation imposed on Iraq since 1990 under Resolution 661 and subsequent resolutions, as the Security Council lifted all financial and trade sanctions except for the ban on the sale of weapons and military equipment.
New financial resource management mechanisms
For managing financial resources, the decision stipulated the following:
- Establishment of the Development Fund for Iraq (DFI): The fund was established and placed under the custody of the Central Bank of Iraq. It was allocated to collect oil export revenues, frozen assets of the former regime that the resolution mandated member states to transfer to it, and the surplus from the Oil-for-Food Program. The stated objective was to use these funds to meet humanitarian needs and for reconstruction. The disbursement mechanism was directed by the Coalition Provisional Authority in consultation with the Iraqi Interim Administration. To ensure transparency, the International Advisory and Monitoring Board (IAMB) was established, comprising representatives of the UN Secretary-General, the International Monetary Fund, the World Bank, and the Arab Fund for Economic and Social Development. This board approved independent auditors to ensure that oil sales and disbursements were conducted in accordance with international best practices.
- Management of oil revenues: The resolution mandated that all oil sales revenues be deposited into this fund, with 5% of them being deducted for the benefit of the compensation fund established under Resolution 687 to compensate those affected by the invasion of Kuwait.
- Spending of funds: The resolution specified the need to use the Fund’s money transparently to meet humanitarian needs, rebuild the economy, repair infrastructure, cover the costs of civil administration, and disarmament.
4. Termination of the “Oil-for-Food” program: The decision stipulated the gradual termination of the program within six months, and the immediate transfer of $1 billion of unrelated funds to the Development Fund for Iraq.
Resolution 1483 provided the legal cover under which the Coalition Provisional Authority exercised its influence and charted a course for channeling financial assets and oil revenues into reconstruction efforts. While it lifted sanctions, it placed Iraqi financial resources under international oversight and granted the Coalition Provisional Authority broad powers.
Executive Order 13303 and American protection
In conjunction with Resolution 1483, US President George Bush issued Executive Order 13303 on May 22, 2003, to provide broad legal protection for the Fund’s money and oil revenues from any international prosecution or seizure, to ensure the continuation of reconstruction.
Practical implementation: Regulation No. 2 of 2003
The practical implementation of the requirements of Resolution 1483 was carried out by the regulations issued by the Coalition Provisional Authority, in particular Regulation No. 2 of 2003. Part Three of it stipulated that the funds of the Development Fund for Iraq be kept in an account opened with the Federal Reserve Bank of the United States in New York in the name of “Central Bank of Iraq / Development Fund for Iraq Account”.
Although the regulations granted the Coalition Provisional Authority (CPA) administrator, Paul Bremer, the authority to direct the opening of accounts at other financial institutions, the primary and sole account was opened at the U.S. Federal Reserve Bank. The bank, acting on CPA directives, transferred 95% of oil revenues to the fund’s account and 5% to a compensation account.
End of the Development Fund for Iraq (DFI)
Pursuant to Security Council Resolution 1956 of December 15, 2010, adopted at the request of the Iraqi government, the arrangement for depositing oil export revenues into the Development Fund for Iraq was terminated effective June 30, 2011. This ended the mandate of the International Advisory and Monitoring Board (IAMB). Consequently, the management of the funds was transferred entirely to the Iraqi government, but without comprehensive international protection. Iraq became dependent on an annual executive order issued by the US president (such as Executive Order 13303) to provide legal immunity for its funds held abroad against creditor claims.
Current money management: IRAQ2 account
With the original Development Fund for Iraq (IRAQ1) coming to an end in 2010, the management of oil funds moved to a new mechanism:
1. Existing Bank Accounts (IRAQ2): The Iraqi government has opened an alternative account at the Federal Reserve Bank of New York known as (IRAQ2). All revenues from Iraqi oil sales are deposited into this account and then transferred within 24 hours to the Central Bank of Iraq’s account (IRAQ1) to avoid international claims or seizures, as the funds deposited therein are classified as sovereign funds belonging to a central bank.
2. Mandatory Deposit: Since Iraq prices its oil in dollars, it is obligated to deposit its revenues in the Federal Reserve Bank of New York. Furthermore, the outstanding external debt (approximately $40 billion) prevents Iraq from easily closing these accounts or transferring the funds, as they would be subject to immediate seizure by creditors once removed from the US protection umbrella.
3. Memorandum of Understanding: To ensure the continued flow and protection of oil funds, a memorandum of understanding was signed on June 2, 2014, between the Federal Reserve Bank and the Iraqi Ministry of Finance to regulate the operation of the IRAQ2 account, an agreement that still represents the legal basis for depositing Iraqi funds in the United States.
Temporary sovereign immunity
With the expiration of the international protection provided by the United Nations under Chapter VII, Iraq now relies on sovereign immunity, renewed annually by the US president, for funds deposited in the Federal Reserve, provided these are sovereign funds and not derived from commercial activities. This annual immunity aims to protect Iraq’s funds from previous creditors, as there are still outstanding debts estimated at around $40 billion owed to countries both within and outside the Paris Club. There are also concerns that unknown creditors may file lawsuits once the sovereign immunity expires.
The position of the Central Bank of Iraq
The Central Bank of Iraq, represented by its Investment and Foreign Transfers Department, issued an official document addressed to the General Secretariat of the Council of Representatives, explaining the legal and logistical mechanisms adopted for managing Iraqi funds abroad. This document was a response to parliamentary inquiries submitted by MP Adnan al-Jabri.
The bank explained in its letter No. (5/3/1464) dated March 14, 2024, that the legal basis for depositing crude oil revenues into account (IRAQ2) dates back to after the expiration of the extension of the executive order issued by the US President in 2003, as well as after the end of the protection that the United Nations provided to Iraqi funds in 2010.
The central bank also warned that closing accounts at the Federal Reserve would have serious consequences, including:
A- Exposing Iraq to the risks of international and judicial claims.
b) Loss of the ability to conduct financial settlements in US dollars due to the lack of sufficient alternative channels.
The path towards permanent sovereign immunity
To secure Iraqi funds, a transition from temporary protection to permanent sovereign immunity is required. This can be achieved by completing the settlement of the remaining Paris Club debt and strengthening relations with major powers (the United States, China, the European Union, Japan, and Russia) to secure their support in protecting Iraqi funds.
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AL-FAYEZ SETS A DATE FOR COMPLETING THE CABINET.
The head of the “Design” coalition, Amer Al-Fayez, confirmed on Saturday that the completion of the ministerial cabinet of Prime Minister Ali Al-Zidi’s government will take place after the Eid Al-Adha holiday, noting that the decision will be made through an emergency session or immediately after the end of the parliamentary legislative holiday.
Al-Fayez told Al-Maalomah News Agency that “political forces and blocs are currently holding intensive internal meetings to discuss the names nominated to fill the remaining ministerial portfolios and to ensure the entitlement of the components and blocs.”
He added that “the vote on the candidates may be held in an emergency session called by the House of Representatives during its current legislative recess,” noting that “official meetings of the Coordination Framework forces are currently suspended, but will resume immediately after the Eid al-Adha holiday to finalize the matter.”
(Mnt Goat: EID ends at the end of May)
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A HUGE FINANCIAL SURPLUS… AND A SERVICE REALITY THAT HAS NOT CHANGED: WHAT HAPPENED?
(Mnt Goat: This article just reinforces again what my CBI contact told me weeks ago. Yes, more proof….She said THERE IS NO FINANCIAL CRISIS IN IRAQ and that notion is all propaganda in an attempt to put pressure on the CBI from the citizens to devalue the dinar like they did in later 2019. With the price of oil at 90 a barrel as Iraq was selling oil and the articles told us Iran was letting Iraqi oil tankers through the Straight of Hormuz then why the panic? It was all a game. Were you listening to me?)
The era of Mustafa Al-Kadhimi has sparked widespread controversy that continues to resurface whenever the issue of managing public funds and oil surpluses is raised, especially in light of talk about huge sums that entered the state treasury during the period of high oil prices, compared to a clear limitation in the size of service and development projects completed on the ground.
While supporters of that phase promote the idea of “financial stability” and crisis management in a difficult economic situation, critics argue that the surpluses that were subsequently achieved did not translate into a real reconstruction boom, and their effects remained limited to covering operational expenses and salaries, without a tangible impact on infrastructure or basic services.
At the heart of this debate stands the most prominent economic decision at the end of 2020, when the exchange rate of the dinar against the dollar was adjusted. The government at the time considered this decision a necessary step to address the financial deficit, while opponents saw it as an influential shift that directly affected the prices of basic commodities and the standard of living, and left a long-term impact on the purchasing power of citizens.
As oil revenues increased in subsequent years, questions grew about the absence of strategic projects commensurate with those revenues, as observers believe that the period did not witness a construction momentum that matched the size of the available resources, with the exception of continued operational spending and covering the state’s financial obligations.
The issue of investment projects also remained controversial, given the failure or absence of a number of announced initiatives, and the increasing voices that spoke of a gap between the amount of money flowing into the country and what was actually achieved in terms of development and services.
On the other hand, supporters of that era still maintain that the government faced complex political, economic and security challenges, and that performance evaluation should take into account the nature of the circumstances in which the country was run.
Between these two narratives, the Al-Kadhimi era remains one of the most controversial economic periods in Iraq, between those who describe it as managing a difficult crisis, and those who consider it a huge financial opportunity that was not invested in the way that could have changed the reality of services and reconstruction.
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MP: THE 2026 BUDGET WILL BE THE MOST COMPLEX COMPARED TO PREVIOUS YEARS
MP Mohammed al-Bayati confirmed on Monday that there is still no set date for the 2026 budget to be presented, noting that it will be the most difficult and complex compared to previous budget cycles.
Al-Bayati told Al-Maalouma, “As of now, there is no specific date for the Council of Ministers to present the 2026 budget and send it to the Finance Committee in the House of Representatives for review before proceeding with the first and second readings and then voting on it.”
He added, “If presented, the budget will be the most difficult and complex compared to previous years, due to the financial and economic challenges, as well as the repercussions of what is currently happening in the Arabian Gulf.”
He pointed out that “Iraq has lost the ability to export more than 90% of its crude oil, which is the main source of revenue for the state treasury,” indicating that “the country’s financial situation is difficult by all measures.”
(Mnt Goat: My sources in Iraq tell me this simply is not true. Almost all of Iraqi oil is being exported as usual. They are trying to put pressure to move to a more diversified economy.)
Al-Bayati explained that “there is anticipation for a roadmap that the government is preparing in coordination with the Council of Representatives, in order to proceed with financial and economic reforms that will contribute to correcting many errors and formulating paths that ensure the securing of operational expenses, especially salaries, during the next phase.”
He concluded by saying that “despite the Ministry of Finance’s assurances that salaries are secured, the current phase requires real measures that contribute to creating a state of financial stability.”
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
Auf Wiedersehen
Much love to ya all,
Mnt Goat
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