Iraq, and economy without an identity

[RJG]

 

Edited May 19 by RJG

[RJG]

This shoud be in engilsh, I changed the audio track on the cog above to english.  I tried to save it to English.  

[RJG]

this conversation is about the 39 minute mark:

39 minutes, 4 seconds

I didn't answer him correctly. I said, "What's the first step we take to find the solution?" The first step is for Professor Mazen to know the building blocks.

39:12

39 minutes, 12 seconds

The foundation of the economy is currency. We need to issue a new currency called the dinar.

39:19

39 minutes, 19 seconds

After all, there are no more 1000 dinars. The dinar is equivalent to 1 dollar, and I'm sitting with the US Treasury and I've discussed this matter. So, you're removing zeros.

39:26

39 minutes, 26 seconds

They said this is the greatest idea. What idea is this? They call it Beijing, meaning linking the value of the dinar to the value of the dollar. Ask yourself, you've been to the Emirates several times.

39:36

39 minutes, 36 seconds

How much is 3.65 dirhams? 67 dirhams? 3.67 It's been about 40 or 50 years, and Jordan seems to be...

39:43

39 minutes, 43 seconds

Jordan, UAE, Zain, this process of removing zeros won't cause you any problems. Leave the zeros alone; we'll create a new currency.

39:52

39 minutes, 52 seconds

We call it the dinar. This dinar is pegged to the dollar from now on. We're not 2026 or 2096, but one. So if you have $100 in your pocket...

40:01

40 minutes, 1 second

You have 100 dinars in your pocket, but do you know that you're strengthening the Iraqi dinar? Back in the seventies, we were close to three

40:09

40 minutes, 9 seconds

3. The dollar is equivalent to 3.2 dinars. If the global debt economy is considered a step, they said this is the right one.

40:17

40 minutes, 17 seconds

If you succeed and create a new currency, and an agreement is reached between the US Federal Reserve and the Iraqi Federal Reserve that they will adhere to the exchange rate of the Iraqi dinar for

40:26

40 minutes, 26 seconds

In the next 50 years, this could solve 70% of the economic problem, meaning that every decade we stop with this, and the digital dinar will transform into the dinar.

40:34

40 minutes, 34 seconds

If Iraq goes digital, how will that benefit us? Right now, you and I are carrying cash in bags, or maybe we're all carrying Mastercards.

40:42

40 minutes, 42 seconds

Its effect is minimal, its effect is minimal, its effect is minimal. The concept only changes; you have the mechanisms of the transaction, but the value...

40:50

40 minutes, 50 seconds

The value remains the same; there's no such thing as "and what," and no one will tell you how much the dollar is worth. The dollar equals the dinar.

40:57

40 minutes, 57 seconds

Your money has become a difficult currency to use in any country in the world. You go in and pay in dinars, and they say, "It's dinars, it's dollars."

41:03

41 minutes, 3 seconds

This means that roughly 60-70% of the economic problems the negotiator will resolve with the US Federal Reserve. He's been sitting with them, and they told me we can do it in three months.

41:11

41 minutes, 11 seconds

We'll give you this: someone who's been sitting with the Americans, of course, in three months, they might make the dollar equal to the Iraqi dinar.

41:18

41 minutes, 18 seconds

We print a new dinar and then forget about it. Whether it goes to an exchange office or not, you'll have dollars in your pocket if it's the dinar or the same value for 50 years.

[RJG]

Zoom News

 

@zoomnewskrd

 

 

Iraqi Central Bank Governor Ali Al-Alaq said Tuesday that there are no plans to devalue the Iraqi dinar against the US dollar, stressing that Iraqi funds are not subject to any US sanctions. Al-Alaq also announced upcoming talks with the US Federal Reserve and the Treasury Department, noting that both institutions have praised the role and performance of the Central Bank of Iraq (CBI). : CBI/ file

https://x.com/zoomnewskrd/status/2056838892980928988

 

3:46 PM · May 19, 2026

·

14.8K

Views

Edited May 19 by RJG

[RJG]

Here is the summary of this whole interview

Proposed Reforms: - Issuing a New Currency: Mazen Al-Ishiqir proposed replacing the current currency with a new one pegged directly to the US dollar (1 Dinar = 1 Dollar) to ensure long-term stability.

 

-Digital Governance Dashboard: Mazen Al-Saad emphasized the need for a “dashboard” management system based on real-time data to monitor state resources and oversee administration, replacing outdated paper-based bureaucracy. -Reactivating the Reconstruction Council: Al-Ishiqir suggested allocating 30% of state revenue to an independent Reconstruction Council to ensure funds are directed toward strategic projects, mitigating corruption.

 

-Fair Tax Laws: The guests highlighted the importance of a progressive tax law to regulate revenue from the private sector (hospitals, universities, housing complexes), which currently utilize state assets without significant returns.

 

Pegging the Dinar to the Dollar: -Al-Ishiqir stated that he discussed the idea of pegging the Dinar to the Dollar with the US Treasury, who informed him that the process could be technically achieved within three months, contingent upon the political will and an agreement between the Federal Reserve and the Central Bank of Iraq.

 

Implementation of Digital Currency and Governance: -Mazen Al-Saad argued that digital transformation and managing state operations through a data dashboard can be initiated with a single decision, asserting there are no technical obstacles to the transition.

[southbeach]

Bump

[keylime]

"Pegging the Dinar to the Dollar: -Al-Ishiqir stated that he discussed the idea of pegging the Dinar to the Dollar with the US Treasury, who informed him that the process could be technically achieved within three months, contingent upon the political will and an agreement between the Federal Reserve and the Central Bank of Iraq."

 

Let's see....3 months from now is August. I like it! So implement already!!!

[Laid Back]

While independent economists and political figures routinely debate these overhauls to combat inflation, the Central Bank of Iraq (CBI) has repeatedly dismissed rumors of sudden revaluations or immediate overhauls. The CBI maintains that the current exchange rate is fully backed by ideal levels of foreign reserves and gold, meaning any move toward a brand new currency remains a purely theoretical proposal rather than active state policy.