News, Rumors and Opinions Saturday 3-7-2026
KTFA:
Paulette: IMO..... After listening to the CC, Frank stated in answer to a question that a HCL has never been passed. The question alleged that Maliki's COM passed an HCL in 2007 and sent it to Parliament. The questioner also asked if a COM has never passed a HCL, how can Parliament discuss a HCL much less pass one.
Upon further research this morning, it is reported that Maliki's HCL did pass a HCL in February of 2007 and sent it to Parliament in May of 2007. This was the culmination of a push by the Bush administration that started in 2004 after they hired the consulting firm Bering Point to help write the law.
The Bush administration considered this passage of the law as a Benchmark for the Maliki administration. Although it was sent to parliament, due to its contentious nature, it was never even brought for a First Reading in Iraq's Parliament. At least that is what my research revealed.
I know Frank continues to say Parliament is going to discuss and/or pass the HCL to give money to the citizens. I am confused as I don't understand from where this money will magically appear.
90% of Iraq's revenues come from oil sales in USD. Even an RI will not affect the value of the oil sales. In fact, each dollar will buy less IQD after the RI that we expect.
Additionally, Iraq is and has been functioning with a deficit over the last few years. We have seen many articles regarding this fact It was always my understanding that money remitted directly to the people can only be from a surplus.
I would really appreciate some clarification as to what HCL can be passed by Parliament much less even discussed as Frank himself even said that there has never been an HCL passed. Wouldn't a COM have to have had to pass it and send it to Parliament and it have a First Reading, a Second Reading, possibly a Third Reading and a vote???
I really think it would be helpful for Frank and his Teams to weigh in on this as to how Parliament can be in a position to discuss and pass a HCL possibly as early as Saturday and also as to where funds will come from to remit to the citizens......
If we have to wait until the HCL is passed prior to the RI, I think many of us would want to understand what to watch for and how soon this can occur. It just doesn't seem to me to be possible anytime soon.
Even the Oil and Gas Law between Baghdad and Kurdistan cannot be finalized and agreed as the non-oil revenues remain a contentious issue. How can a full HCL be ready for a vote? I am just trying to be a good student and I continue to have more questions than answers.
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Mike: IMO.. I dont know any more than most others about this 'Revalue process and HCL', but I have some long standing beliefs. One of those is that we will see the HCL (Article 140) prior to or at the same time as a new rate.
Im not sure of the exact numbers but I believe that oil sales are in USD and are around 3.5 to 4 mil bbls/day? As production increases, depending on the agreements with OPEC, that may increase.
Iraq has paid Kuwait and has paid for the oil infrastructure which needed to be built, so there should be more money for other modernization projects in the budget. Also, they are starting to use natural gas for their energy needs.
The HCL was never supposed to give citizens money as much as setting aside a portion of the oil sales for future generations- much like Kuwait.
It also sets the agreements between the Kurdish region and the Central govt. They have been discussing this for years. They have an idea where these numbers lie. As they find new oil or mineral deposits, the numbers may change slightly to account for this, but they know.
For them to make a final agreement on anything, they need a gentle push, or maybe a shove. They need to 'Save Face' in regards to their agreements. It's not something which we really understand.
The Reval, on the other hand, increases purchasing power. If the rate goes 1-1 with the dollar, and they remove the 3 zero notes, then they have gained a small amount of purchasing power. If their rate goes to $2.00, they now can buy twice as much as before, especially with imported goods and services.
This should also apply to contracts w outside contractors as they are paid with a revalued dinar.
We have seen for years that the banks in Iraq needed to increase their reserves. I really dont understand the 'financial system of this world', but if the CBI holds a billion dinar which is currently 1 million dollars, then after a reval at 1-1, its instantly a billion dollars.
I assume this is how we can afford to be paid.
They used the dollars we paid to survive the lean times to get their oil infrastructure going. The world took money out of the financial system when they devalued the dinar. Now they will be adding it back in.
My opinion- for what its worth- which aint much! As the Canadian bank story guy said, Be generous.
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Clare: Exiled Crown Prince of Iran Reza Pahlavi Says He Has Accepted the Role as Iran’s Transitional Leader
Crown Prince Reza Pahlavi from Iran
by Jim Hoft Mar. 6, 2026 12:30 pm
Crown Prince of Iran Reza Pahlavi says he has agreed to accept the role of Iran’s transitional leader.
Reza Pahlavi is the son of the Shah of Iran who fled the country when Ayatollah Khomeneini took control of the Islamic nation.
Reza Pahlavi released this statement earlier today.
The Islamic Republic has launched missiles at the United Arab Emirates, Bahrain, Qatar, Kuwait, Oman, Jordan, Iraq, and Saudi Arabia. It is targeting our Arab neighbors. These violations of their sovereignty are unacceptable, and we condemn them. But this is nothing new. This is who the Islamic Republic has always been, and this is why it must end.
For nearly five decades, this terrorist regime has sown chaos and bloodshed across our region. It propped up Assad, turning Syria into a graveyard. It planted Hezbollah as a state within a state in Lebanon. It armed the Houthis to destabilize the Arabian Peninsula. It empowered militias in Iraq to undermine Iraqi sovereignty. It attacked the economic hubs of the Kingdom of Saudi Arabia and the United Arab Emirates.
None of this has ever been the desire of the Iranian people, but rather that of a regime occupying our country. Now, however, the landscape has fundamentally shifted.
Assad is gone. Hezbollah has been decimated. The regime’s military nuclear program has been set back. Its economy is in a freefall. The pillars of this regime’s aggression are crumbling. The Iranian people have paid the price in blood to reach this moment. The regime massacred tens of thousands of my compatriots in just two days, but it didn’t break the people.
Instead, the regime itself is breaking. Today, his History reminds us of our future potential. Before the revolution, Iran worked closely with Arab leaders, from King Faisal to Sheik Zahid to King Hussein to President Sadat. In Oman, my father helped Sultan Qabuz defend his country against insurgency. We were true partners then. We will be true partners again. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man Here is what was to be expected. They are making a move to withdraw Maliki's nomination officially. An official statement will likely be forthcoming very soon. If they do Al-Sudani is highly likely to get the nod for PM. He is the most qualified, has the largest bloc and global support. To me at this stage Maliki's nomination is effectively over. The outcome is looking to be a cleaner and more stable government, as the outcome.
Mnt Goat there is WOW! WOW! WOW! news to tell regarding the RV as we may be getting the new Iraqi government in place very shortly. Maliki still persisted in not dropping out, however...the Coordination Framework was forced to withdraw Maliki’s nomination. Article: "THE SHIITE FRAMEWORK DECIDES TO WITHDRAW AL-MALIKI’S CANDIDACY – ARAB MEDIA" A stormy meeting in Baghdad ends with a preliminary agreement within the Shiite framework to exclude Maliki from the race. Quote: "...the members of the framework reached a preliminary agreement in their meeting today to withdraw the nomination of Nouri al-Maliki for the presidency of the next Iraqi government and to choose an alternative to be determined later.” [Post 1 of 2....stay tuned]
Mnt Goat Can the Coordination Framework still be able to pick their candidate or is this now not allowed since they already pasted all the constitutional deadlines? Parliament turned this over to the Judiicary to decide what to do next. If it is to be enforced, we can be assured that al-Sudani will be the candidate, since his party has the largest winner in the elections, as the ruling states....according to this ruling, al-Sudani is already now the candidate. If this ruling holds true the Coordination Framework no longer gets to choose the nominee... WOW! WOW! WOW! again… [Post 2 of 2]
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Can Iraq Revalue At $3 Like Kuwait ?
Dinar for Dummies: 3-6-2026
In this video I compare the 2 countries of Iraq and Kuwait and the values of their currencies.