EPISODE · Jan 31, 2026 · 37 MIN
The Roadmap to Breaking Iraq’s Financial Bondage to Washington
from My FX Buddies · host Tish Washington
For more than two decades, Iraq’s oil revenues have remained link to My FX Buddies Blogunder strict financial oversight — not because the money doesn’t belong to Iraq, but because of legal, political, and historical constraints tied to the U.S. Federal Reserve.Economic expert Nabil Al-Marsoumi has outlined a detailed roadmap for freeing Iraqi funds from this grip, arguing that the current system is no longer justified by the conditions that originally created it.According to Al-Marsoumi, the United States has effectively managed Iraqi oil revenues since 2003 through the Federal Reserve, initially under international legal protection provided by UN Security Council Resolution 1483. That protection ended in 2011, yet Iraq remains subject to exceptional oversight under Executive Order 13303, which continues to shield Iraqi funds from seizure — while simultaneously restricting Iraq’s freedom to use them.If you'd like to Support the channel: https://cash.app/$tishwash.... https://paypal.me/tishwash.... a FREE transcript at: https://rss.com/podcasts/myfxbuddies....Al-Marsoumi explains that the issue is not the location of Iraq’s funds. Many oil-producing countries deposit revenues at the Federal Reserve because oil is sold in dollars. The problem, he says, lies in the limits placed on Iraq’s ability to freely dispose of its own money, a restriction not imposed on other nations.A key obstacle involves long-standing lawsuits and compensation claims dating back to Iraq’s 1990 invasion of Kuwait. Because Iraq did not contest many of these cases at the time, courts issued default judgments totaling enormous sums — judgments that are now final and enforceable.Al-Marsoumi argues that resolving the crisis requires a political and legal strategy, not technical banking adjustments. He proposes hiring a reputable international law firm with full authority to inventory all claims against Iraq, determine their true value, and negotiate settlements through a process known as “buying the debts” — offering claimants a percentage of the awarded sums in exchange for dropping lawsuits entirely.Similar approaches, he notes, were used successfully by countries such as Greece and Argentina, allowing them to regain financial flexibility without total isolation from global markets.At its core, the issue is one of sovereignty:Iraq has the money — but not full control over it.📌 Why Iraq’s funds remain restricted📌 How lawsuits became a financial weapon📌 What “buying the debts” really means📌 Whether Iraq can regain control without economic shock🎧 Listen in as we break down the roadmap — and what it could mean for Iraq’s financial future.Thanks for Watching! Following Iraq’s Story — Don’t Give Up 💰🔥
What this episode covers
For more than two decades, Iraq’s oil revenues have remained link to My FX Buddies Blogunder strict financial oversight — not because the money doesn’t belong to Iraq, but because of legal, political, and historical constraints tied to the U.S. Federal Reserve.Economic expert Nabil Al-Marsoumi has outlined a detailed roadmap for freeing Iraqi funds from this grip, arguing that the current system is no longer justified by the conditions that originally created it.According to Al-Marsoumi, the United States has effectively managed Iraqi oil revenues since 2003 through the Federal Reserve, initially under international legal protection provided by UN Security Council Resolution 1483. That protection ended in 2011, yet Iraq remains subject to exceptional oversight under Executive Order 13303, which continues to shield Iraqi funds from seizure — while simultaneously restricting Iraq’s freedom to use them.If you'd like to Support the channel: https://cash.app/$tishwash.... https://paypal.me/tishwash.... a FREE transcript at: https://rss.com/podcasts/myfxbuddies....Al-Marsoumi explains that the issue is not the location of Iraq’s funds. Many oil-producing countries deposit revenues at the Federal Reserve because oil is sold in dollars. The problem, he says, lies in the limits placed on Iraq’s ability to freely dispose of its own money, a restriction not imposed on other nations.A key obstacle involves long-standing lawsuits and compensation claims dating back to Iraq’s 1990 invasion of Kuwait. Because Iraq did not contest many of these cases at the time, courts issued default judgments totaling enormous sums — judgments that are now final and enforceable.Al-Marsoumi argues that resolving the crisis requires a political and legal strategy, not technical banking adjustments. He proposes hiring a reputable international law firm with full authority to inventory all claims against Iraq, determine their true value, and negotiate settlements through a process known as “buying the debts” — offering claimants a percentage of the awarded sums in exchange for dropping lawsuits entirely.Similar approaches, he notes, were used successfully by countries such as Greece and Argentina, allowing them to regain financial flexibility without total isolation from global markets.At its core, the issue is one of sovereignty:Iraq has the money — but not full control over it.📌 Why Iraq’s funds remain restricted📌 How lawsuits became a financial weapon📌 What “buying the debts” really means📌 Whether Iraq can regain control without economic shock🎧 Listen in as we break down the roadmap — and what it could mean for Iraq’s financial future.Thanks for Watching! Following Iraq’s Story — Don’t Give Up 💰🔥
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The Roadmap to Breaking Iraq’s Financial Bondage to Washington
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