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.
INTRODUCTION
I have had many questions, mostly from newbies to this speculative investment. Are you new to this investment? This is probably why you are clicking on this section in my blog. Since I have already answered these questions a hundred times if not a thousand times already, so I decided to write this page on my blog to clear up any misunderstandings and to provide this knowledge again to all you newbies. I am glad you finally made it here. I don’t care what the other gurus are saying. Please don’t add their bullshit in the comments of my blog. This is your problem if you listen to them in the first place. Yes, you will be confused if you listen to them, but that’s your fault not mine. I bring you the TRUTH of this investment, no bullshit or any motives behind it. So, I am so glad you finally found my site. Now I hope you will listen to me.
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Here are some of the misunderstandings about this investment I will clarify today:
1. What the new lower denominations would be when the CBI does launch them;
2.How the process on deleting the zeros will work. Will they null and void out the old 3 zero notes once they redenominate?;
For instance: Could the CBI remove the three zeros from the currency for instance, bringing the 25,000 dinar note down to $25 and leave us investors holding the bag?
3. How long will we have to take our large 3 zero notes to the bank to exchange them?
Personally, I feel to answer these questions is all actually such OLD news I find it hard to believe anyone actually does not know this stuff by now, but I will explain these again if this is helpful. Now that you newbies found me, please try to stick with me and read my newsletters periodically whenever they come out instead of just occasionally “dropping” in & out from curiosity …lol..lol… It would make life a lot easier for you in understanding this RV process and your currency investment. This way you don’t need to catch up to everyone else and ask boring questions.
Why Invest in the Iraqi Dinar?
There is literally no way you could make such a high rate of return on an investment as with dinar foreign currency, or any currency in the same situation, with the potential like it that Iraq possesses. The key however is to buy the currency when it is worth pennies or a percentage of a penny. This is sort of compared to buying a penny stock on an initial public offering (IPO) before it goes on the trading platforms. But this is not a stock and you are not going to watch it grow over a long or even a short period of time. Once the revaluation happens, thus the dinar gets reinstated back on the foreign currency exchange (FOREX) basically we are done. Go to the bank and exchange it.
Using a buying leverage, you can buy millions of dinar and afford to do so for almost nothing then, make millions when it revalues. Even a common poor person can participate. You don’t need tons of money to do so. Many people will just not get this basic concept. They get lost on the concept somehow. But that’s okay. I guess they need more certainty in their lives. But I will tell you with such a small investment of money and with such a huge potential gain in the future, how can you lose? Honestly,,,, You can always sell your dinar if you get scared or frustrated. It is real currency used by the country of Iraq. How Can You Lose! What will you lose, maybe the spread to which was charged when you bought it? So, there is virtually no risk, if any it is very minimal.
Oh…but if you are thinking this is a “get rich quick” scheme, brother or sister…… you are so wrong. This is a highly speculative, long-term investment. You have to have guts or no glory! It is that simple. It will take time for Iraq to rebuild all sectors of its society. But they will rebuild not back the way they were pre-1991 – 2003 Saddam Hussien days, but stronger and more vibrant. This will take time but where can you get such high rates of return, maybe we will have to wait a decade or two for it to pay off. But who really knows. I have proof the Iraqi dinar should have revalued around 2006 this was the original plan, but politics in Iraq held it up. Then again in 2012-2013 and then again even in 2015 we witnessed the news of a pending RV crushed by the ISIS invasion into Iraq. But we still wait.
Remember the time to buy into something, like a foreign currency, is not after the revaluation occurs. How silly it that! Then it’s too late. I know, I know most will want the certainty but read my lips – like I said then it’s too late, since the cost of the currency will be normalized by then and it will cost you millions to get very little in return. Then why bother after- the- fact. Get it?
Remember when you buy this type of foreign currency, like the Iraqi dinar, do not hedge it. Do not buy it on a payment plan. Many have already got burned because of this foolishness. Buy it and take possession of it immediately. Buy what you can afford at the time, and as time goes by then buy more and more as your financial resources allow. Then stash it somewhere and tie into an honest site to watch it and learn about it and the people of Iraq. But you are not concerned about watching growth like a stock. Get it? What you should be doing is watching for the BIG Revaluation day, the one time shot, the BIG BANG reinstatement back to FOREX. This is when you can go to the bank and exchange and not before.
Let’s Continue….
Below is some FACTUAL information on what categories of the newer lower denominations that still need to be rolled out. We already know that the 250, 500 and 1000 dinar notes are in circulation and are planned to remain in circulation even after the project to delete the zeros is completed. However, the CBI and the Finance Ministry often refer to these notes also as the “lower” denominations. Don’t be confused. Thye are just the lowest of the three zero notes that is all. But we know there are still “lower of the lower” denominations coming. The one time swap out or “redenomination” process is what I am taking mostly about today in this presentation today.
This is the information the CBI talks about in the above video. It is in Arabic but you can set captions “on” and then to the language of your country to read what they are saying.
“The project to delete zeros from the currency is still in place,” this was confirmed by the Governor of the Central Bank, Ali Al-Alaq, in his latest statements about the project to delete three zeros from the Iraqi dinar from July 2023. So, what is this policy?
The policy of deleting zeros from the currency means, for example, that the value of a one-thousand note is 1,000 dinars, and will be replaced by a note worth one dinar of the new currency.
Iraq is not the only country that resorts to the policy of deleting zeros from the currency, and there are seventy-70 cases that the world has witnessed since the year one thousand nine hundred and sixty (1960), including these three most recently:
Türkiye: Deleted six zeros from its currency in 2005
Zimbabwe: deleted twelve 12 zeros from its currency in 2009.
And Venezuela: Five zeros were deleted in 2018
We also know that due to the Vietnam war in the late 60’s and early 70’s, the Dong also was issued these larger three zero notes, as they say to stop hyperinflation due to the war. But let’s study that. The war has been over for more than sixty years, yet they are still using these larger notes. Why? The UN claims they have gained their independence and sovereignty. Then why are they still treating Vietnam as if it was still partially under sanctions. But this is what these globalist leaders do. Unless you strictly obey their demands for your country, it is a long road back. Iraq now is suffering from this same dilemma. My take on this is corruption and how the UN and the IMF gets away with this is amazing. But the old saying is “who controls the money- has control”.
I do not like to use these analogies because these three other countries actually did a “lop”, which was done to restart their currencies due to hyper-inflation. But I think the CBI video just wanted to release any fears the citizens may have of the process and that other countries have done it. Concentrate on the “process” thus the purpose of the video. This redenomination type as a “lop” will not be the case with Iraq as it will be just the opposite. The CBI plans to grow the value of the dinar and finally close the door on the long-sanctioned saga of their currency. It is an uphill battle and they have to dig themselves back from the war. They are resilient people, who love their country and will do it.
But how will the Iraqi economy be affected by deleting the zeros when it is implemented?
Although the actual value of the money that people own does not change after deleting the zeros, this step contributes to simplifying the buying and selling processes for individuals and companies. This is a VERY important part to remember.
It makes financial amounts simpler and more understandable. Instead of dealing with huge numbers such as one million 1,000,000 Iraqi dinars, they can be converted into one thousand 1,000 dinars only after deleting three zeros.
Removing zeros may also help in issuing small currencies such as coins, enabling small commodities to be repriced at lower prices. It gives a positive psychological boost to citizens that the Iraqi dinar can now buy more goods and services.
Therefore, countries aim by deleting the zeros to restore confidence in the local currency among citizens and investors.
The demand for it increases, and the local currency becomes more competitive with foreign currencies and its exchange for other currencies decreases.
The policy of deleting zeros is often linked to broader economic reforms, such as raising interest rates on bank deposits, to encourage people to save within banks and benefit from high interest on their bank deposits, in an attempt to withdraw liquidity from the market, reduce consumption and decline in prices.
Then exploit this liquidity to expand productive projects, attract local and foreign investments within the country and create many job opportunities to eventually revive the local economy.
But on the other hand, deleting the zeros may cost Iraq money to print new banknotes to no avail. For example, after eliminating 3 zeros from the Iraqi dinar, when we talk about a 200 dinar banknote, it is actually equivalent to 200,000 dinars.
Therefore, it may be necessary to print 4 more 50 dinar notes instead of the 50,000 dinar note.
This following statement is the most important statement of all. Please pay attention to it:
However, this may not have a clear impact on improving the local economy if it is not part of an economic reform package that helps reduce the amount of money circulating among people and stimulate the economy. Especially since Iraq’s economy is an oil economy that needs to stimulate other productive sectors to drive the local economy
Deleting the zeros from the Iraqi dinar will be a real start to stimulating Iraq’s economy!
Here are a few questions readers of my blog often ask and so I thought I would address them:
How will Iraq pay us investors when we exchange our three zero notes after the revaluation ?
This question pops up very frequently from the readers of my blog. So instead of me having to repeat myself over and over again, I decided to include this section to explain it all for you.
First, I want to say you may be looking at the exchange as purely US dollars in your pocket. Remember when you exchange your dinar it will be the equivalent rate of the dinar in the currency of your own country since that is the country’s currency. That is all it is going to be. The US Treasury has already set aside billions to handle the exchanges in agreements with Iraq. Not all of the funds paid out to you, the investor exchanging, will go back to Iraq asking for repayment from Iraq in cash. Instead, there are oil contracts already established amounting to a fixed price over the next 30 years. These are called “oil credits”. There is a ratio of cash:credits they are going to use and this is confidential so I can’t tell you the ratio, nor does it really matter to you. The Cental Bank of Iraq knows exactly how much currency is in foreign hands.
The US Treasury will then sell these credits at a time when oil is high, making a tidy profit in the process, if they can over the 30 year period. This is why Iraq must pass the Oil and Gas law first. This is also why the global plan is not to cancel oil as a main source of fuel, something the Biden administration was trying to do. This is another reason why the RV would never have happened under these extreme liberal US administrations that pander to this environmental movement. They really don’t care much for this project. They also do not want US citizens to prosper. This would hurt their agenda to bring down the US economy.
Next, remember that you will not be walking out of the bank with cash. The exchange will be digital only just as you now have in your bank account. Do you really think the banks keeps all the cash on-hand in their vault to cover all their bank accounts. NO! Instead it is all digital. Surplus cash is picked up by armored service by the Central Bank regularly. Some of these intel gurus tell you that you will be allowed some cash takeout on the exchange. This may be true. The amount varies depending on who you talk to. It will probably be no more than about 5 thousand dollars. The banks conducting the exchanges will order the appropriate size of cash reserves from the Central Bank estimating from you appointment you set up to exchange. You may also be asked the amount of dinar and other currencies you plan to exchange and how much US Dollars you will want to withdrawal, if any, that day. They will then order the cash from the Feds for you.
So, we need to stop thinking on linear terms so much and relax. Any exchange of currency must work from the bank’s reserves. These reserves are either digital or in cash. The reserves for these exchanges will be allocated from the US Treasury to the bank’s exchange centers electronically. I highly recommend you visit a bonified exchange center set up specifically for this event. Make sure the center is sponsored from a familiar bank. Look out for scams.
1.What will the new lower denominations be when the CBI does launch them?
The above video walks you through each 3 zero denomination and its newer lower note replacement.
Newer “lower of the lower” denomination notes are as follows:
Bills: 1 dinar, 5 dinar, 10 dinar, 25 dinar, 50 dinar, 100 dinar
Coins: 10 fils, 25 fils, 50 fils and a 1 dinar.
Please Note: On October 22, 2025 the CBI told us they planned to issue a 20 dinar note as one of the newer lower denominations, also even though they never issued a matching 20,000. They now plan to launch that 20,000 note too at this time and this is yet another sign to us that these three zero notes, once they are taken out of “public” circulation, will still be useful and used for very large cash transactions of dinar for inter-banking and international transactions only. This also reinforces once again that our dinars, outside of Iraq, that we investors now hold, will remain valid and will be exchanged at the going rate. See article in the below list of articles. Example: a 20,000 three zero dinar note may fetch a whopping 80,000 US Dollars in the exchange to US dollars if the US rate on FOREX comes out at $4.00.
with lower coins of 1 fils, 2 fils and 5 fils added later as the economy improves and the value continues to rise.
How will the CBI arrive at these new bills? Let me explain to you.
2.How the process on deleting the zeros will work. Will they null and void out the old 3 zero notes once they redenominate?
In ordinary daily circulation of the dinar the 3 zeros notes will be taken out of circulation not null and voided, thus only taken out of the general circulation. However, the CBI has told us they will still us the 3 zero notes for inter-banking transactions for trade when large sums of money is necessary. They will use mostly the 25,000 dinar notes for this purpose. This statement by the CBI also tells us these older 3 zeros notes will increase in value. If you watched the above video it shows a one dinar notes equal to four US dollars. So, within inter-banking transactions a 25,000 note would be worth $100,000 ($4 x 25,000). Many doubt me that this will actually happen some day and they will become multi-millionaires overnight. However, this is such short-siding thinking and only shows a lack of confidence and common sense. People are actually afraid to get rich. Yes, I said it – afraid of having money. But they want it and need it. So go figure what is going on in their heads. Just look at Microsoft, Facebook, Twitter, etc… Many knew the game and literally got rich overnight when they listed these stocks on the exchanges. Why? Because they were not afraid to get rich and invested early. You can do the same with the Iraqi dinar (IQD). Folks it is just a game and you too can really play. This is the time to invest in it.
For instance, let’s take the 1000 dinar note, if you delete the 3 zeros it becomes the 1 dinar note. The same applies to the 5,000 bill becomes the 5 bill, the 10,000 becomes the 10 bill and the so on and so forth. If you notice that each of the lower of the lower denomination notes also have a corresponding higher 3 zero note, just add three zeros. Coincidence? No, it is not. This was designed this way all along since October 2003 when they first issued these higher notes.
So when you delete the three zeros from the currency in the project to delete the zeros, what do you do? You delete three zeros get it? Is this so hard to understand?
250 becomes .25 fils
500 becomes .50 fils
1000 becomes 1 dinar
5000 becomes 5 dinar
10000 becomes 10 dinar
25000 becomes 25 dinar
50000 becomes 50 dinar
Earlier it was announced the CBI will also be adding the following new coins but this could change:
.05 fil
.10 fil
1 dinar fil
5 dinar fil
10 dinar fil
50 dinar fil
3.How does the rate change for the citizens inside of Iraq?
The rate inside of Iraq therefore does not change only the bills change. Get it? They tell us this in the video. This is the part that most people do not understand. But it is really not hard to understand. So let me explain it to you in more detail.
I know, I know this sounds like a weird statement and you say so where is the revaluation then. Yes, you are thinking this right now, aren’t you? To make it clear just relax and don’t over think this process. Technically there is not going to be any revaluation in Iraq. Get it? Yes, I said “in Iraq”, Are you listening to me or is your mind going off half-cocked already? But where are you? Are you in Europe, Cananda, USA or another country? So, this part of the process DOES NOT apply to you …right? They why worry about it or get your underwear tight up your ass over it? Wow okay so now you are totally confused. Your head is spinning….Don’t be confused. Just read on and TRUST what I am saying. Read it slowly.
It is not until you take the older three zero dinar notes, when is reinstated on FOREX, at the rate we are all looking to exchange it for. We are outside of Iraq, and we will exchange the dinar for our currency of our own country. For instance: the US dollar, Euro, Canadian dollar Pound, etc, etc. We will do this when there is a significant increase in its exchange rate capability. It is not going to be realized in Iraq in their country. In Iraq there is not going to be any long lines at the banks to exchange, dancing in the streets, fireworks or celebrations afterwards. Get it? Yes, the people will be glad they finally got rid of these large, cumbersome notes. They will finally see a change back to normalcy. Soon they will forget the wars and live on.
To fully help you understand even more what is going to happen let me use an example:
Today is October 2, 2021 and the CBI rate is 1450 IQD per 1 USD. This equates to about $17.24 for the value on a 25,000 dinar bill on this date. Here is how I calculated this: 1.00 /1450 = .00006896 per dinar. Yes, that is not even a penny a dinar. Then multiply .00006896 x 25,000 = $17.24 USD.
Fast forward…today is June 27, 2023 and the CBI rate is 1320 IQD per 1 USD. This equates to about $18.94 for the value on a 25,000 dinar bill today using the same method of calculation. Here is how I calculated this: 1.00 /132 = .00007575 per dinar. Yes, that is not even a penny a dinar. Then multiply .00007575 x 25,000 = $18.94 USD.
So, what just happened? We can clearly see that the CBI already revalued the dinar a little since it went from 1450 to 1320 or $17.50 to $18.95, a $1.45 gain. But did you run to the bank and exchange? Why not? If you had a million dinar that comes to a gain of $757.50. Not bad but you are not rich yet,
So, in the examples above they are talking about the in-country only “program rate” not the FOREX rate. Get it? It is not yet on FOREX. Some people call it the “sanctioned rate”. Even though technically Iraq is out of sanctions, they still have not reinstated the dinar back to FOREX and so must use the program rate. The reinstatement ONLY comes after the Project to Delete the Zeros. It CAN NOT be bypassed. Common sense tells you this right? You don’t get it yet?
Okay let me explain further. If the rate stays low and they conduct the project to delete the zeros without the reinstatement following shortly, then this will happen:
1.they will stay at about 1:1 with the US dollar and it will be an uphill battle to keep the parallel rate and the official rate stable. Maybe possible even crash the dinar;
2.There will really not be much more purchasing power realized.
3.The true or “nominal” value of the dinar will not be realized according to the assets of Iraq;
4.Investors will still hesitate to come into Iraq. The economy may stagnate.
Yes, they need to globally trade the dinar to get all these things.
4.How does the rate change for us long-term investors outside of Iraq?
I will now use a very possible scenario and give you examples of what happens in country versus out of country to the Iraqi dinar after these two events occur for comparison sake to better understand:
In Country of Iraq: For example only, today is July 3, 2023 and the CBI rate was 1320 IQD per 1 USD but now they delete the zeros so you move the decimal over three places to 1.320 IQD or $1.32 per 1 USD. They now drop the zeros both in the program rate and in the notes. Get it? They now have to issue the lower notes too. They must do both. My calculations now looks like this: 1.00 /1.32 = .7575 per dinar. Then multiply .7575 x 25 = $18.94 USD. Oh!!! surprise!, surprise,! no change in rate in country. Get it?
The newer 25 notes replaces the older 25,000 notes. Thus this equates to about $18.94 for the new value on a 25 dinar bill. Now if the CBI does decide to revalue even more to 1000 from 1320 program rate in country this is what it will look like in country:
For example only, today is July 3, 2023 and the CBI rate was 1000 IQD per 1 USD but now they delete the zeros so you move the decimal over three places to 1.000 IQD or $1.00 per 1 USD. They now drop the zeros both in the program rate and in the notes. They must do both. My calculations now looks like this: 1.00 /1.00 = 1 per dinar. Then multiply 1 x 25 = $25.00 USD.
Out of Country of Iraq FOREX: For example only, today is July 3, 2023 and the CBI rate was 1000 IQD per 1 USD (which is 1:1 after they delete the zeros) Now they delete the zeros, issue the lower notes and reinstate the dinar to FOREX. The FOREX rate is 1 IQD per $3.86 USD. Now we care. Get it? My calculations now looks like this: 1.00 IQD = $3.86 USD per dinar. Then multiply $3.86 x 25,000 = $96,500,00 USD. Oh!!! surprise!, surprise,! We do not drop our zeros. We are out of country.
If you had a million dinar that comes to a gain of $3,860,000.00 minus what you initially paid for the currency. That’s a hell of a lot better than $757.50.
I know you are asking yourself what is the value of a single dinar once they delete the zeros? This is all you want to know? Please go back to the examples above.
My point to giving these examples is to illustrate to you that the CBI may increase the current program rate of the dinar first away from the 1450 to 1320 then to ??? to get the final rate closer to a dollar, if this was the plan to have the final rate closer to $1.00 or over $1.00+. The CBI will absolutely not have a rate of 1450, 1320 or ??? one day and then after completing the project to delete the zeros have the rate jump to $3.00 or more in country within Iraq. It will not and can not happen this way due to the process of how the project to delete the zeros works. Do you understand? So, to make such a high jump would cause massive inflation or deflation and would destroy the economy. So if they just keep the rate exactly the same as it is today the economy can absorb the changeover much better. As time goes on within Iraq they slowly raise their in country rate. Meanwhile the CBI keeps monitoring for inflation and fighting the parallel market with measures to keep the dinar stable. Get it?
This is the most likely situation and the situation I am told will probably happen. I know these intel gurus tell you that the “purchasing power” of the dinar will increase after the project to delete the zeros, but I can assure you with 1000% accuracy this is not the plan in-country but will only help in the buying of imports. and the CBI does not want this to happen so suddenly. Yes, they told us it will be gradual and they will slowly adjust the rate inside Iraq as they monitor the economy closely. Why would they not want to do this if they are a professional expert organization concerned about managing the economy correctly? So these intel gurus are full of shit! There will be no massive jump in purchasing power to the citizens and no celbration sin the streets.
I know how all these intel gurus for years and years have been telling you that there is going to be a huge revaluation within Iraq first and then it will be reinstated. Some have even lied to you telling you it RV’d already in Iraq at $9 and so now you know how this would be impossible and a very stupid thing to say even on your blogs or conference calls. This only shows their ignorance of the entire process. But when you know the process, as you now do, you now know how the project to delete the zeros really works and you realize there is no real revaluation in-country, only dropping the zeros and thus a need to launch notes with the zeros deleted off them. You now also know why the CBI MUST do it this way.
5.How long will we have to take our large 3 zero notes to the bank to exchange them?
Simple question deserves a simple answer. In 2012 the CBI told us in an article that these 3 zero notes would remain in circulation of at least 10 years once the project to delete the zeros is concluded. The US Treasury has still to give us investors a definite time span to turn them in for exchange. My only guess is this that these 3 zeros notes will be around for a very long time just like the US dollar has many very large notes but you hardly ever see them or hear about them, yet they are still legal tender.
Having said all this. This is my simple answer – Get your asses to the banks as soon as you can and exchange!
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Story behind the infamous 25, 50 and 100 dinar notes:
In 2003 for some reason the CBI issued a 50 dinar note. Was this in anticipation of completing the project to delete the zeros much sooner than later? The 50 dinar notes up until about 2014 were still partially in use even though they were cancelled in 2003 along with the 25 and 100 dinar notes, as they were of little use due to such low values at that time.
For instance, a 25 note was worth 1/4 of a cent, 50 note was worth 1/2 cent and the 100 dinar note worth a cent. But who deals in 1/4, 1/2 or even one cent in the market place in Iraq when items price tags are marked up to the whole numbers and rounded off. Even the 100 dinar notes worth 1 cent did not make any sense. So we can see the rollout of these initial denominations in 2003 was partially a flop and not very well received. So this alone indicates to us that it was never intended to go this long without completing the project to delete the zeros and thus realizing a realistic use for these three denominations.
In mid 2015 the CBI told us the 100 dinar notes would also be launched in early 2016 so we know they fully intended to complete the project to delete the zeros then.
Many ask me how I know this?
There are no secret sources telling me this. Yes, I have a CBI contact but they are tight lipped when it comes to this sensitive stuff. Instead, I rely on my many years in the Army Intelligence and the brainwashing they gave me during those years to look at raw data, tie it together and make connections. This is what the Army Intelligence Corps paid me to do. This is how I now use my abilities for you to try to help you understand all this. Remember reality is this – things just don’t happen. There is always a target, a plan and interconnections to what the CBI is thinking or does that will give away their final plan.
I believe the CBI will launch once again the 25, 50 and 100 dinar bills JUST BEFORE the project to delete the zeros occurs. I do think it will come out at around 1.00 but at whatever the program rate dictates, as I showed you in my examples above.
Justification for January as the best timeframe to Reinstate the dinar:
The CBI even went further in the process in 2015 in anticipation to continue with the launching of the other notes too and the project to delete the zeros, however the project was postponed until (as they told us) EARLY in January of 2017. In early 2016 the CBI told us they were also postponing the launching of the 100 dinar notes until the situation was conducive. Did you read this article?
Also I want to jog everyone’s memory back to 2012. Remember the CBI told the citizens the same thing. That to expect the newer notes and coins to be launched that September 2012, In retrospect since this time the CBI and Dr Shabibi did tell us in many articles they planned to delete the zeros in early 2013. So they confirmed to us this was the plan all along. Do you see the trend?
So this is my justification for telling you we must wait again for this educational process to begin and to see the launching of the new notes and coins which would happen a couple months prior to the reinstatement. The project to delete the zeros must come first and then after they watch for inflation for some time period, they go ahead with the reinstatement which must fall at the beginning of their fiscal year, which is January, as they also told us. Timing is everything!
NOTE: -Do not put words in my mouth….I did not say the CBI is just going to “trigger” this thing and “launch” all the new notes all at once. I never said that and I still am not saying it. If it seems I did, then I apologize for your ignorance in misreading my intent of my words. Many of you have selective hearing and read into my newsletters to mean what you want it to mean. You get all hyped up from these other conference calls and then come to my newsletters looking for confirmation of their absolute madness and stupidity.
So something or some entity (I believe the IMF) had a conversation in 2015 with the CBI and told them to hold off due to ISIS terrorism and all the money laundering and counterfeiting. This became apparent if you read the SDA (Stand-By-Agreement) between the IMF and the CBI, which was signed right around the time they decided to back off on the continuing the process in the fall of 2015. So go figure!
Remember now the entire political and physical environment in Iraq had changed drastically under PM Abadi. The SDA forced Iraq into all the reforms for the money laundering and counterfeiting. Didn’t you read about all of this effort over the past 2 years? Also we now see ISIS threat is gone, as least to where the CBI needs to have the needed level of SECURITY. There is still the Iranian backed militias and “secret” security forces of Nori al-Maliki and they know they must deal with them too. But they had them too in 2012 and so will this effort hold up the RV? From what I just said what do you think? THINK, THINK, THINK! I do not have all the answers. God gave each of us a brain and so let’s all use it.
Remember also the CBI told us the larger older 3 zero bills will coincide with the newer lower denomination bills for up to 10 years., then be phased out.
Keep in mind that the 2012 article was an actual press release from the CBI and described each coin and bill in detail including the pictures on the front and back, as if they designs were already done.
Articles:
Here are some noteworthy articles from the past on the Project to Delete the Zeros:
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CENTRAL BANK: THE PROJECT TO REMOVE ZEROS FROM THE DINAR IS STILL ONGOING AND IS BEING PLANNED.
22-10-25 (October 22, 2025)
Central Bank Governor Ali Al-Alaq confirmed that the three-year budget “included very large expenditures and a high deficit,” noting that the issue of removing zeros from the dinar may witness developments in the coming period.
On the sidelines of Al-Alaq’s participation in the Duhok Conference on Economic and Financial Problems in Iraq and the Kurdistan Region, Al-Alaq said, “The budget for the three years included very large expenditures, which is why the deficit was high. However, there is ongoing coordination between the Central Bank and the Ministry of Finance to achieve a high degree of financial stability.”
He added, “The issue of removing zeros from the Iraqi currency is an ongoing project that is being planned, and we may hear developments regarding it in the coming period.”
He pointed out that, “With the renewed proposal for the zero-removal project, which is currently being prepared, the currency denominations will be restructured in general, including the 20,000 denomination.”
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NO OBSTACLES IN WAY OF WITHDRAWING OIL REVENUES FROM US BANKS.
22-10-25 (October 22, 2025)
The governor of the Central Bank of Iraq (CBI) said Wednesday there are no obstacles in the way of withdrawing oil revenues from US banks, amid recent reports that Washington has sanctioned tens of Iraqi banks due to alleged violations involving illegal dollar transactions.
“There are no obstacles or barriers,” Ali Alaq told Rudaw on the sidelines of the second scientific conference of the College of Administration and Economics at the University of Duhok. “We receive… US dollars daily and convert it directly to Iraqi dinars to meet the needs of the Ministry of Finance and pay those who are entitled to dollars in exchange for dinars.”
Iraq’s oil revenues are deposited in US banks, namely the Federal Reserve, for the purpose of stabilizing Iraqi dinar, management of inflation, and several other critical reasons. The practice originated after the 2003 invasion under UN and US oversight.
In August, Iraq Observatory reported that 35 of the 72 banks currently operating in Iraq have been sanctioned by the US due to alleged violations of illegal US dollar transactions. Oil revenue is Iraq’s main source of income, and the federal government relies on oil sales to cover its costs and pay the salaries of its civil servants.
Iraq has generated an estimated revenue of $7.1 billion in August oil exports, reported the country’s oil ministry.
Issues around budget deficiencies
In June 2023, Iraq passed a three-year budget that included a record $152 billion in spending, allocating 12.6 percent to the Kurdistan Region.
“The three-year budget contains significant expenditures, which is why the deficit has increased,” Alaq warned, adding there is, however, “coordination between the Ministry of Finance and the Central Bank to ensure greater financial stability.”
He added there are “plans being implemented in coordination between the government and the Central Bank to establish a foundation for financial sustainability that will not face shortages and problems.
“The programs that the government and Central Bank are working on include increasing non-oil revenues to protect against the shocks that hit Iraq’s economy.
“I believe there will be significant progress on this matter in the future. Financial sustainability is an important and fundamental goal that we are all working on.”
Under Iraq’s three-year budget plan for 2023-2025, it was decided that the federal government’s revenues and expenditures would follow a set framework, with the finance ministry preparing an updated revenue and expenditure table each year for parliamentary approval.
However, the 2025 budget table has yet to be submitted to Parliament. In practice, even when such tables are prepared, the figures often differ significantly from actual revenues and expenditures, as seen over the past two years.
Removing zeros from currency
Last week, the CBI announced plans to remove zeros from dinar, as part of efforts to strengthen the national currency.
“The matter of removing zeros from the Iraqi currency is a project that still exists and is ongoing. We are planning for it, and in the future, we will see progress on this matter,” Alaq said.
Iraq’s national currency, the dinar, has recently demonstrated strong signs of recovery, with the market rate steadily approaching the official exchange rate of 1,320 IQD to the US dollar. After a turbulent period of volatility and speculation.
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DANNAIR PUBLISHES THE FEATURES OF THE NEW IRAQI CURRENCY AFTER THE DELETION OF ZEROS
June 2012
The Central Bank decided to adopt some of the landmarks and images to be placed on the new currency after the deletion of zeros.
The agency received a copy of the Central Bank’s book, which included cultural and historical landmarks and images to be placed on the currency with the implications of the nearby to the minds of the public and the culture of the Iraqi.
PAPER CURRENCY
According to the book:
The paper currency included a number of monuments and images, the most important, a picture of the bridge of the imams and the significance of the significance of high value if the bridge reaches between the two sides of the Tigris River and on both sides of the observers Imam Musa Kadhim (p) and Abu Hanifa Numan (Raz).
200 dinar-The book of the bank entitled to the Directorate Nation for issuing cabinets: that this image allocated to the highest class of the new currency,
a category (200) dinars and two hundred dinars on the back of this paper put a picture of the school Mustansiriya in Baghdad.
100 dinar – He added the central bank: (100) dinars, one hundred dinars, pictures of the Zouaiya area in Baghdad, one of the ancient areas in which the bridge was built suspended one of the achievements of the Iraqi state .. Iraq is one of the leading countries in the construction of this type of bridges and shows in the picture building the Central Bank of Iraq , In addition to the building of the University of Baghdad, which is the oldest scientific institution in Iraq in the second half of the twentieth century, while on the back of the paper image (Zaqora), one of the features of the Iraqi architecture at the dawn of history.
50 dinar -The book of the Central Bank: (50) dinars (fifty dinars) picture of King Claudia one of the most famous kings of the dynasty The second pillar (the twelfth king) is the god of growth and fertility, while the back of the paper included a picture of the fortress of Ahkaydir, an archaeological fortress dating back to the Abbasid period and the unique defensive fortresses in a desolate area such as the one built there. This fortress is located to the southwest of the city of Karbala. central bank :
25 dinar – In the face of the paper of the category of (25) dinars (twenty five dinars) put the image of King Hammurabi receives the law .. This son is the father of the spiritual father of human legislation as he wrote the rules governing the life and transactions in his famous Muslim either the back of the paper has included a picture For the agriculture of Kurdistan Iraq contributes with the men in the preparation of the field of agriculture.
10 dinar – The Central Bank: Put on the face of the banknote of the category (10) dinars (ten dinars), the image of the dinar Arab Islamic and represents this dinar, which was minted under the Umayyad state The Islamic state that strikes inside the state is one of the features of the state Sovereignty and economic independence, while the back of the paper has placed a picture of the lighthouse of humpback in Mosul, one of the distinctive features of urban in our beloved Iraq.
5 dinar – In the category of (5) dinars (five dinars) has placed on the face of her paper a picture of a total waterfall on the Iraqi Kurdistan, a reference to the interest of the state water and its sources in addition to interest in tourism and the environment either the back of the paper has been placed a picture of Nakheel Iraq is a sign and property for each land The central bank said in writing:
In line with the best applications and global experiences, decided to stop the basic features of banknotes of the categories (25,000,10,000,5,000) dinars Currently in circulation in the new series (25,10,5) dinars for the public a thousand with it as it was imprinted in his memory.
(Mnt Goat – so the new smaller notes of 5,10 and 25 are replacing the 3 zero notes of 5,000, 10,000 and 25,000 accordingly. This is a 1:1 RV in Iraq. I said within Iraq, did you hear me? In addition they are also issuing a 50, 100, 200 dinar notes of smaller category. Remember they already issued the 50 notes way back in 2015 in the anticipation the reinstatement was going in January of 2016)
COINS
The Bank pointed out that it is keen to choose designs for coins that are general and comprehensive and have a positive impact on all the Iraqi people. The coins are shown on the map of Iraq and highlight the Tigris and Euphrates rivers. The map shows a circular area to stabilize the coin coin category.
Of the coins included: there are 4 new coins a 250 and 500 fils, 1 and 2 dinar
2 dinar coin – first category (2) dinars, a picture of (Deir Mti), a historic and spiritual site located in northern Iraq, and taken by the Iraqis from various sects and religions a place of tourism and tourism.
1 dinar coin – While the category (1) dinars picture taken from the fact that the displacement of the Faily Kurds was designed by the Ministry of Culture.
500 fils – (500 fils) was placed on a modern dam on the Euphrates River. It was intended to highlight the importance of water and its storage and organization in Iraq.
250 fils – In the category of (250) fils, pictures of the Kut dam were placed on the Tigris River for the same purpose. ) Fils, a picture of the Lion of Babylon symbol of strength and violence of the Iraqi nation.
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THE PAPER AND METAL CURRENCY AFTER 2003, WHICH DID NOT SUCCEED IN TRADING AND WAS CANCELED
Thursday March 14, 2019
The Central Bank published pictures of the currency and metal issued by the Central Bank of Iraq to trade after 2003 did not succeed, which was decided to cancel.
The paper currency was withdrawn in the category of 50 dinars, which is from the issuance of 2003, which was the front face of the Basra silo and the back of the palm leaf.
With the withdrawal of the currency with the issuance of 2004 of circulation for categories 25, 50 and 100 dinars for not circulated by the public.
The following are the pictures of these currencies and drawn by the Central Bank of Iraq:
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THE CENTRAL BANK HAS ANNOUNCED A TENDER FOR THE PRINTING OF NEW BANKNOTES (SMALL CATEGORIES) AT THE INTERNATIONAL PRINTING COMPANIES.”
(Remember this article is referring to the 250, 500 and 1000 bills not the other even smaller category bills as many intel gurus tell you. This is FACT not bullshit. We really DO NOT know if the newer lower denominations have already been printed or not. I suspect they have and they are not just telling us.
November 2017
Baghdad / Al-Ghad Press:
The Central Bank of Iraq called for the need to preserve the local currency, pointing to the strengthening of local banks IN LOCAL CURRENCIES OF SMALL GROUPS.
A source from the Central Bank of “Al-Ghad Press”, said on Tuesday that “the bank calls for the preservation of the local currency and the strengthening of banks WITH SMALL GROUPS OF LOCAL CURRENCY,” pointing out that “the printing of the Iraqi currency and replace them cost large amounts of money,” calling on citizens to maintain bank notes when trading “.
He revealed that “THE CENTRAL BANK HAS ANNOUNCED A TENDER FOR THE PRINTING OF NEW BANKNOTES (SMALL CATEGORIES) AT THE INTERNATIONAL PRINTING COMPANIES.”
The source said that “the Central Bank TO SHIP CASH FROM SMALL GROUPS TO GOVERNMENT BANKS AND PRIVATE BANKS HAVE BEEN DISTRIBUTED AMOUNTS given to banks during the month of November last year of the current (554,000,000) dinars (one hundred and fifty-four million dinars) category 1000 dinars and the amount of (202,500,000) Dinars (two hundred and two million five hundred thousand dinars) category of 500 dinars, “adding that” the Central Bank of Iraq pays to the Rafidain and Rashid Bank an amount of not less than (200 million) dinars (two hundred million dinars to change) in almost every withdrawal of its own assets.
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Sept 10, 2018
CENTRAL BANK OF IRAQ ANNOUNCED ITS INTENTION TO RAISE LARGE AMOUNTS OF LOCAL CURRENCY, WITH SMALL CATEGORIES
Central Bank of Iraq
The Central Bank of Iraq announced its intention to raise large amounts of local currency, with small categories, while continuing to receive the damaged currency from the citizens and replace it with new.
The governor of the bank Ali al-Alaq said in a press statement: “The Central Bank to develop a plan to compensate the market small categories of local currency, as will be next month large quantities of huge ones,” noting that “these quantities will meet the need of the local market for those categories of currency.”
He added: “The bank continues to receive local currency damaged by citizens and replace them with new currencies,” pointing to the existence of a specialized committee to examine the damaged papers to ensure their safety from fraud and manipulation.
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RETURN OF THE SUBJECT DELETE THE ZEROS TO THE FOREFRONT
11/26/2017 12:00 AM
We are on the doors of the year 2018 or is the date of deletion of the three zeros of the Iraqi dinar a question addressed to the makers of monetary policy?
The past years have seen widespread debate about the advantages and disadvantages of deleting zeros.
Which brings this debate back to the forefront, but we are at the beginning of the road towards a rational economic reform that restores the country’s strength and strength after being subjected to several tremors almost paralyzed.
I see that the return of the subject delete the zeros to the forefront at a time when the steps of the reform calmly and slowly and unrivaled is a real vision to restore the real value of the Iraqi dinar to remain master of currencies at the level of local trading without rushing on the acquisition of the dollar to invest outside the country, and perhaps the advantages of the dinar equivalent with the dollar in terms of value, content and appearance of the debt to invest domestically, because it is difficult to invest currencies in the world outside the dollar as the currency of the most receptive and popular in transactions and investments.
This and other advantages lead to the adoption of consideration of this project and study the possibility of its application during the year 2018 as one of the basics of monetary and banking reform.
Perhaps follow the steps in reducing the exchange rate of the dollar gradually after the challenge of security will devote convictions and accept the deletion of zeros, which faced in a timely split between supporters and opponents because of poor understanding of raising zeros, and importance and advantages, especially when some believe that the deletion of zeros will reduce the size of the reserves of dinars because their view of their size is not to their true value.
It should be noted that monetary policy had followed a balanced and balanced plan to reduce the exchange rate of the dollar against the dinar and succeeded to some extent fixed on what it is now, where it was able to reduce from 200 thousand to 100 dollars to 120 thousand dinars and the goal to reach 100 thousand Dinars but circumstances prevented timely completion of the gradual reduction.
Today, it is easy for the Central Bank of Iraq to work on the principle of gradually reducing the exchange rate to the extent that it can be equivalent to the dinar against the dollar, so as to accept and digest the process of deleting zeros, so the advantage of reducing the size of money assured the owner to keep a small amount of cash with the bone market value and actual.
For this, the deletion of zeros or raise them from the Iraqi currency will make them enjoy these advantages in the field of compactness and commercial transactions and the risks are much lower than the large cash volumes.
The bottom line is that it is necessary to adopt the Central Bank of Iraq for the project to delete the zeros and work on its implementation from now in order to achieve the objectives of reducing the size of the monetary mass, and required a media program to devote convictions to the importance of this project.
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Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends on the currency
(I included this article that told us that the Automated Teller Machines (ATMS) in Iraq were part of the project to delete the zeros and were only supposed to be turned on when the project occurred. This of course did happen as they are turned them on with the 250, 500 and 1000 notes being now dispensed from them. This was in 2014. Oh…did you read that they already started the project to delete the zeros? Yes, they did in 2014 but remember it was put on-hold due to ISIS over running the country at this time. But this is still a very good sign to us and shows they are serious about doing the project. Remember the CBI refers to these categories are lower denominations too as they are planned to existed in circulation with the other even smaller category notes. )
December 10, 2014
Said the director of the Rafidain Bank in Dhi Qar Hussein Abbadi in a televised interview broadcast by the local Nasiriyah that the introduction of ATM in the markets and banks ARE SUBJECT TO THE IMPLEMENTATION OF THE DECISION TO DELETE ZEROS FROM THE IRAQI CURRENCY, pointing out that the Iraqi currency suffers from large inflation at the present time.
http://www.nasiriyah.org/ara/post/55155
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FINANCE DECIDES TO STOP EMPLOYMENT IN THE PUBLIC SECTOR UNTIL NEXT YEAR’S BUDGET IS APPROVED
(I included this article for all those stupid intel gurus who still keep pushing this idea that the Iraqi fiscal year begins on Oct 1st. It does not and this article proves it begins on January 1st. This is import to establish as it is the premise of our January timeframe for the reinstatement.)
The Ministry of Finance has issued a decision to suspend public sector employment until the 2020 budget is approved.
A document published in a number of media outlets and seen by “Economy News”, said, “Stop the appointment of permanent owners or appointment sought as a contract or daily wage in all ministries and entities not affiliated with the Ministry and provinces as of December 31, 2019 to the end of the current fiscal year and to be considered after the enactment of the federal budget law for 2020 in light of the texts that will be received in accordance with the said law.”
The document also included the suspension of the transfer of staff services between ministries and non-ministry entities or their subsidiaries, whether centrally funded or self-funded, or the transfer of services from public companies, self-funded bodies and directorates to centrally funded departments AS OF 31 DECEMBER 2019 TO THE END OF THE CURRENT FISCAL YEAR.
The document confirmed the suspension of the procedure for granting bonuses and promotions to members of its formations and the suspension of the accounting of political separation and the service of lawyers, the service of the contract, the press service and the jihadi service until the enactment of the Federal Budget Law of 2020.
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THE IRAQI DINAR WITHOUT ZEROS: THE CENTRAL BANK OF IRAQ LAUNCHES A HISTORIC REFORM.
(This article just about says it all. Yes, everything I learned and have been saying about the process to get to the reinstatement.)
Written by Dr. Subhi Jabara
Research and writing by: Dr. Subhi Jabara
The Central Bank of Iraq has officially confirmed that it is moving forward with its long-awaited “zero-zero” project, a massive financial reform that will fundamentally reshape the country’s economy and its standing on the global stage.
In a series of statements, the Central Bank Governor emphasized that the project is not mere speculation but a concrete initiative that has generated considerable enthusiasm and interest in international financial circles. This ambitious project aims to rename the Iraqi dinar by removing three zeros from its nominal value to better reflect the country’s growing economic strength. This move, which has been the subject of rumors for years, is currently under active development, with comprehensive studies and simulations having been completed. According to the Governor, the process will be gradual and meticulously planned to ensure financial stability while unlocking the currency’s true potential.
For years, the Iraqi dinar has suffered from a decline in its nominal value as a result of decades of conflict and economic instability. The current exchange rate, hovering around an unofficial rate of 1,415 dinars to the US dollar, forces citizens to carry large amounts of cash for their daily transactions and complicates international trade and investment. The “zero-zero” project was designed to address this problem by simplifying the currency and aligning it with the country’s strong economic fundamentals, including robust oil revenues, expanding gold reserves, and deepening trade partnerships with global powers such as China, the United States, and the European Union. While the Central Bank has been careful not to commit to a specific timeline, the confirmation that the project has begun marks a pivotal moment for Iraq. This represents a transition from post-war recovery to a new era of economic independence.
Signs of Reform: How Will “Removing Zeros” Work?
The phrase “removing zeros” may sound alarming, but it is a standard monetary policy tool known as currency revaluation. It is not a confiscation of wealth, but rather a recalibration of the currency’s nominal value. In essence, 1,000 old Iraqi dinars will become 1 new dinar. Crucially, all prices, wages, and savings will be adjusted proportionally, ensuring that individuals’ purchasing power remains stable at the moment of the shift. The real shift occurs in the subsequent adjustment of the exchange rate.
The Central Bank has developed several scenarios, with internal studies predicting that the floating dinar could stabilize automatically at a value in the distant future between 3.22 and 4.25 dinars to the dollar. The governor clarified that these figures are not a declared rate but rather an indicator of the currency’s potential if it is allowed to float freely based on market demand and Iraq’s economic fundamentals. Two main paths are being considered for the next phase.
Economists close to the central bank indicate that both options remain on the table. The choice will depend on the government’s strategic priorities, whether it favors a gradual, market-driven adjustment or a swift and decisive reset.
Either path would trigger one of the most significant currency transformations in the modern Middle East. The economic driver: Why is now the right time for a stronger dinar? The timing of this reform is not coincidental. The Iraqi economy is at an evolutionary turning point. The country’s fiscal position has steadily improved, driven by several key factors: Strong oil revenues: As a leading producer in OPEC, Iraq’s steady oil revenues provide a stable foundation for its economy and strong support for its currency. Growing gold reserves: The central bank is actively expanding its gold reserves, a traditional safe asset that enhances monetary stability and international credibility. Deepening trade partnerships: Iraq has developed strong trade relations with major global economies, including China, the United States, and the European Union, diversifying its economic interactions and reducing its dependence on any single partner. Despite this strength, the nominal value of the dinar has been lagged, widening the gap between the official exchange rate and its true value. Each time Iraq’s GDP grows or its foreign reserves increase, this discrepancy becomes more pronounced.
The “zero-zero” project is the mechanism to close this gap, allowing the currency to finally reflect the country’s true wealth and economic progress. This reform is expected to have profound global implications. Revaluing the Iraqi dinar would:
• Boost regional investment: A stable and strong currency would make Iraq a more attractive destination for foreign investment, thereby fostering economic growth throughout the region.
• Reduces dependence on the dollar: By re-pegging its currency into a diversified basket of currencies or commodities, Iraq can reduce its reliance on the US dollar for oil settlements, a move with significant geopolitical implications.
• Inspires monetary reform: It could inspire neighboring economies to reassess their monetary structures, potentially triggering a wave of fiscal modernization across the Middle East. For Iraq itself, this is more than just an economic adjustment; It is a step toward a historic fiscal renaissance, signaling Iraq’s transition from post-war recovery to a future of economic independence and self-determination. A new chapter for Iraq: The way forward.
The central bank governor has emphasized that this reform is not a rash or hasty move; Every step is carefully measured, documented, and designed to maintain stability and public confidence. While the precise implementation timeline remains confidential, the confirmation that the project has begun and the preliminary studies are complete indicates that implementation is closer than ever. When the reform takes place, whether through a gradual float or a sudden restructuring, it will permanently alter Iraq’s fiscal identity.
The phrase “removing zeros,” as simple as it sounds, represents one of the most ambitious and complex financial engineering projects in the country’s modern history. The central bank is not just changing numbers; It is redefining how Iraq interacts with the global economy. The world is watching closely. The potential shift in the dinar’s value, with projections ranging between 3.22 and 4.25 to the dollar, has captured the attention of investors, economists, and governments worldwide. This is not just an economic story; it is history in motion. As Iraq stands on the precipice of this financial transformation, the message is clear: the nation is ready to transcend its past and write a new chapter of prosperity and strength.
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