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Prolotario
@Prolotario1
They Are Pulling Our Legs Again:
The public story, courtesy of Safaa Al-Jabri’s televised interview on http://IraqiNews.com, reads like a government still deciding what to do. Rate revision under review. Redenomination stalled on legal jurisdictional questions. No binding cabinet decision finalized.
This means the “jurisdictional review” being referenced publicly is not an open question it’s a timing mechanism. The legal framework exists. The authority exists.
What’s missing is not permission. What’s missing is a fully seated cabinet to absorb the political and economic coordination that follows the decision.
That’s all theater. Here’s the reality underneath.
Al-Jabri frames the zero removal as “stalled only by legal jurisdictional reviews to identify the specific governing authority legally empowered to greenlight and e*****e the structural transition.”
The Federal Supreme Court of Iraq has already ruled on this. The Prime Minister holds jurisdiction over the redenomination decision.
The parliament does not need to vote to authorize the zero removal. The Central Bank of Iraq operates under the PM’s authority for currency restructuring of this nature.
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We already know a caretaker government does not have the political authority or the structural completeness to coordinate with the U.S. Treasury at the level required for SEC/CFTC rules passage and tokenized settlement integration.
You need a full cabinet every minister seated, every portfolio filled, the government formally complete to e*****e that level of bilateral financial coordination.
The 2027 Budget Tells You the Endgame
The budget numbers Al-Jabri projected are the real signal:
• Projected sovereign revenues: $110 billion+
• Crude export earnings: $85 billion+
• Domestic petroleum sales: $8-10 billion
• Non-oil customs and tax receipts: rising
• Crude benchmark: $80-82/barrel generating ~$5 billion/month
• Planned deficit: 25-30 trillion dinars
A country generating $110 billion in annual revenue does not need to borrow. A country that does not need to borrow does not need a “program rate” the IMF-administered exchange rate framework designed for debtor nations under economic restructuring.
Dropping the program rate requires a full cabinet because the program rate is an international agreement, not just a domestic policy. The cabinet must be complete to sign off on the transition from program rate to sovereign rate and to coordinate with the U.S. Treasury side for the settlement infrastructure that replaces the old framework.
Once the cabinet is seated and the PM has full authority, the resistance becomes irrelevant. The legal authority exists. The design exists. The contracts exist. The U.S. coordination is ready. The only thing that has been missing is the political completeness to e*****e.
If the cabinet completes seating this week which the post-October 3rd calendar supports the sequence begins immediately.
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The rate adjustment could come within days of cabinet completion. The U.S. side coordination has been running in parallel and is positioned to clear on the regulatory front once the Iraqi government is formally complete.
PM Ali Faleh Al-Zaidi’s publicized event would serve as the formal announcement platform not for the 1,500 adjustment, but for the broader redenomination and currency sovereignty framework.
Source(s):
• https://x.com/Prolotario1/status/2107489620770341149
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