The Budget, the Bill, and the Fed
Iraq's 2027 budget reaches the cabinet Tuesday. The Senate tests the CLARITY Act the same day. The Fed decides Wednesday. Three decisions, one pair.
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6 Million Barrels a Day
Iraq asks OPEC for a 6 million bpd baseline and its blocs agree terms on the oil law, with the 2027 budget due at the cabinet September 15.
Dollars Before the Barrels
A supermajor agreed to pay Iraq before the oil ships. That verdict landed 6 days before the paper that names the dinar's worth.
A Bank Run in Baghdad
Iraq faced its first bank run of the cleanup. The central bank's guarantee was in writing before the crowd arrived. That speed is the tell.
Smaller Notes Only Mean One Thing
A note smaller than 250 dinars is worthless at today's rate. A state prints one only when it knows the rate is about to change.
Iraq's 2027 Budget Enters Production
Drafting of the 2027 budget begins with the KRG seated at the table, while the CBI takes over a private bank. The paper that carries the new rate is in production.
Missiles and Manifests
Iran put missiles into 4 neighbors, Erbil among the targets. Baghdad's reply: exports up 70% on routes Iran cannot touch, and paperwork that did not pause.
Level Playing Field
Bessent put currency prices on the G20 record as a policy choice behind global imbalances. The G20 agreed the test and the referee. The word is equilibrium.
September First
The date this channel circled arrived: export contracts live, 12 political accounts frozen, cabinet vote next week. The calendar keeps its own time now.
Be Prepared
Iraq ordered 7.5 billion new notes, and now the old ones are hard to buy. Two ground channels describe the same street: the swap's first half is running.
Denial or Blueprint
The CBI issued two documents in one day. The public got a denial of new currency. Every bank in Iraq got instructions on money that cannot explain itself.
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America's Fortune, Babylon's Rebirth
Washington claims a fortune in the Gulf. The deeper play is Iraq's oil money moving onto books the world can see, and that is what revives the dinar.