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Be Prepared
By Reset Intelligence | @EXIT_FIAT
On Monday Iraq ordered 7.5 billion new banknotes. By Friday the news from the ground was that you cannot buy the old ones.
Two separate reports, with no line to each other, describe the same street: dinar nowhere to be found, cash machines offline or capping withdrawals, payments pushed onto cards, and Kurdistan’s public workers given days to get a bank card because salaries are going electronic. The pay trucks have stopped showing up.
The Cash Is Disappearing
Iraq’s own numbers frame the picture. The CBI’s data shows bank deposits slid 5.6% in the first half of 2026, and the dollar firmed in Baghdad’s markets this week. The banks hold less, the street holds less, and the machines that bridge the two are switching off. In a country with 111 trillion dinars officially issued, the paper is getting hard to touch. In Kuwait in 1991 and Iraq in 2003, the old cash went scarce before the public was told anything.
The Week’s Moves
• The seizure ledger – Iraq’s National Security Service announced more than 93 billion dinars recovered for the treasury, plus another $14 million and 12 billion dinars seized and deposited with the central bank, on the record.
• Counterfeits swept – the second counterfeit currency operation in a week shut down, along with a clandestine drone-manufacturing cell in Baghdad.
• The water, by the numbers – CENTCOM confirmed Hormuz shipping lanes cleared of Iranian mines, 750 million barrels escorted through, and Iran’s oil exports at zero since mid-July.
• September 1 – Iraq’s export contracts on routes that bypass the strait entirely take effect Tuesday.
• The weekend of money – the Fed’s Jackson Hole keynote, the G20 convening around Treasury Secretary Bessent in Asheville, and Iraq’s 2027 budget due at cabinet within days.
What It Adds Up To
Each piece alone has an innocent explanation. Put them in a single week, in the same country whose central bank published a swap procedure inside its own denial, and the innocent explanations start to require more faith than the obvious one. That is the short version. The full daily briefing connects every piece, names the sources, and tells you what to actually watch next.
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Got a dinar question? Reset Intelligence runs an on-call research assistant: ask it anything they have published. It answers in seconds and will conduct deep research to find you the answer. Try it: resetintelligence.com/
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Being told to be prepared is one thing from a newsletter. It is another arriving from the ground, describing a country already living the first half of an exchange.
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