News, Rumors and Opinions Wednesday 8-12-2026
Reset Intelligence: A Budget for What Rate?
8-11-2026
A Budget for What Rate?
By Reset Intelligence | @EXIT_FIAT
Iraq has started writing the next law that must name the dinar’s exchange rate – and the central bank is sitting at the drafting table.
The same week, a US senator walked out of Fort Knox and confirmed every ounce of gold is there. Then he said the dollar lost 85% of its value anyway.
The Budget File Reaches the Top Table
On Monday, Prime Minister al-Zaidi personally chaired a session with parliament’s finance committee, Finance Minister al-Sari, and Central Bank Governor Nizar Nasser Hussein. The subject: Iraq’s 2027 federal budget, the first in the country’s history built program-and-performance based. In Iraq, the exchange rate is written into the budget law. The 1,300 sits in the 2023 law, and no law since has replaced it. Iraq never passed a 2026 budget at all.
• The calendar – drafted and sent to parliament in September, endorsed and released in October, per the PM’s own financial adviser
• The door closed on camera – the government spokesman confirmed Iraq has not resorted to external borrowing, leaving the two options state TV repeats nightly: borrow from Iraqi banks, or take the three zeros off the notes
• The old books – former Finance Minister Taif Sami, who kept Iraq’s ledger for the entire life of the 2023 law, was placed on a judicial wanted list 2 days before the meeting
• The gold – central banks bought a record 289 tonnes last quarter; Iraq’s own bank holds roughly 175 tonnes, a quarter of its total reserves
• Fort Knox – Senator Rand Paul confirmed the full 147 million ounce stockpile, then pointed at the 85% the dollar lost since it was cut loose from that metal
Here is the question that matters, and it is the one everyone gets wrong: does the rate have to wait for the budget to pass in January? Iraq’s own record answers it, and the answer changes how you watch the next 6 weeks. The last time the number moved, the paperwork came 4 months later. The full breakdown of that sequence, and what the CBI can do any morning between now and September, is in today’s briefing.
Read the full daily briefing free for 5 days. Sign up here: resetintelligence.com
Want it straight from the horse’s mouth? The CBI Rate Alert pings you the moment the Central Bank of Iraq moves the official rate. The number itself, not a rumour about it. It comes with our free resource library and the daily breakdown of what is actually moving in Iraq. Sign up free: resetintelligence.com/rate-alert
The longer story is in the book: Head of the Snake. The free reference layer is here: The Library.
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The budget that names the rate is being written now. The only question history will ask is who saw it while it was actually happening.
https://dinarchronicles.com/2026/08/11/reset-intelligence-a-budget-for-what-rate/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Reset Intelligence This week a United States senator Rand Paul walked into the most famous vault on earth [Fort Knox] and settled a half century argument "the gold is there." All 147 million ounces... The metal never moved. And the dollar lost 85% of its value anyway. That is what happens to money with no backing. Nixon's moment and the endless printing did the damage...Now the gold is being counted again. The world is heading back to the gold standard, and the US is leading the way. Baghdad is already positioned, 175 tonnes deep, writing the budget law that names the dinar's next rate.
Frank26 Iraqi citizens repeat after me - We are lifting the value of your currency. We are lifting the three zeros from your exchange rate. The 25K note will become a 25 dinar note. $100 is about 150,000 dinar. We are going through a currency redenomination. It's to simplify transactions and to strengthen the confidence in Iraqi citizens on your currency.
Walkingstick [Iraqi bank friend Aki update] WALKINGSCICK: Aki, do you have any LDs? AKI: No, I don't have any lower denominations. I have no needs for lower denominations. WALKINGSTICK: When I come to your bank, you're going to take my dinars and give me American dollars in my account right? AKI: Yes, I will take care of you in conversion electronically. I will convert your IQDs into the USDs.
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The Fed has Lost Control of Interest Rates
VRIC Media: 8-11-2026
Christopher Whalen of Whalen Global Advisors, LLC and publisher of The Institutional Risk Analyst argues that investors may be overlooking one of gold’s most important signals: credit default swaps on U.S. government debt. He explains why rising concern over America’s creditworthiness can strengthen the case for gold, why long-term interest rates may remain elevated even if short-term rates fall, and why inflation is likely to remain a persistent problem.
Whalen also discusses the dollar’s changing role in global reserves, the risk of inflating away U.S. debt, and why he expects a significant reset in housing and parts of the stock market.
0:00 The overlooked indicator driving gold
1:02 Why the Fed may keep rates unchanged
3:22 Short-term rates down, long-term rates higher
5:37 Why mortgage rates could stay elevated
8:38 Whalen’s outlook for gold and silver
11:03 What credit default swaps reveal about U.S. debt
14:14 Why U.S. credit risk can lead gold
16:06 How the dollar’s global role is changing
18:21 Why countries still need U.S. Treasuries
20:30 Diversifying into foreign currencies
23:13 Will America inflate away its debt?
26:05 Why the fiscal problem keeps getting pushed forward
27:31 A potential housing reset in 2028
30:04 Tech valuations and the AI bubble