Kurdistan producers warn no quick restart to Iraq-Turkey pipeline, 8 OCT
Saturday, October 7, 2023
Iraq’s Balancing Act: A Push for Fossil Fuels Amidst Climate Concerns, 9 OCT
Iraq’s Balancing Act: A Push for Fossil Fuels Amidst Climate Concerns
At the United Nations Climate Week, Iraqi Oil Minister Hayyan Abdul Ghani underlined the persistent global demand for fossil fuels, while also advocating for significant investments in renewable energy. The comments came amid an era where the global discourse is gradually shifting towards clean energy sources, and countries are scrambling to balance their economic needs with environmental concerns.
Emphasizing on a Dual Investment Strategy
Abdul Ghani stressed the necessity of substantial investments in both fossil fuels and clean energy sources. This dual investment strategy underscores Iraq’s attempt to stay relevant in the global energy market while also recognising the imminent need to mitigate the impacts of climate change. The minister’s call can be seen as a plea for a more realistic transition strategy that respects the current energy market’s dynamics, particularly for countries heavily reliant on fossil fuel exports.
Transitioning towards Natural Gas
The Iraqi government has been gradually shifting its focus towards using natural gas for electricity generation – a cleaner alternative to oil. This move is seen as a tentative step towards a more sustainable energy sector. Abdul Ghani predicted that oil demand would increase by two million barrels per day next year, hinting at the continuing relevance of fossil fuels in the global energy mix. In September, Iraq earned $9.5 billion from crude oil exports, exporting approximately 103 million barrels, signaling the economic importance of fossil fuels for the nation.
Addressing Climate Change
Despite the emphasis on fossil fuels, the Iraqi government is not turning a blind eye to the impacts of climate change. The Prime Minister of Iraq, Mohammed Shia al-Sudani, promised comprehensive measures to tackle climate change, including plans to meet a third of the country’s electricity demands using renewable energy. Climate change has had a significant impact on Iraq, leading to droughts, water shortages, and increased respiratory illnesses. Hence, the government is formulating a national plan to combat climate change, which includes building renewable energy plants and protecting the country’s biodiversity.
The Broader Middle East Perspective
The ministers from other Middle Eastern and North African countries also discussed the roles clean energy could play in their economic future during a high-level dialogue hosted by the International Energy Agency (IEA) and the Ministry of Energy and Minerals of Oman. They acknowledged the need for energy transitions and the potential reduction in export revenues from fossil fuels in the future. The ministers highlighted the opportunities for economic growth through the transition to a lower carbon economy and emphasized the importance of cooperation and dialogue in achieving clean energy goals.
"RV UPDATE" BY MNT GOAT & CLARE, 8 OCT
Mnt Goat
I asked [my CBI contact in Iraq] about the project to delete the zeros and was told it is coming and is now an active project no longer just a later project.
I asked for some target dates and was given that they planned to redenominate sometime prior to the end of the year. To me this is so inline what we are thinking for a January 2024 reinstatement timeframe and other events also lining up.
Clare
Wall Street Journal Article: "Iraq Asked for $1 Billion in Cash. This Time, Washington Said No."
Quote: "Iraq is seeking a special shipment of $1 billion in cash from the Federal Reserve Bank of New York, but U.S. officials have withheld approval, saying the request runs counter to their efforts to rein in Baghdad’s use of dollars and halt illicit cash flows to Iran.
Since the U.S. invasion of Iraq two decades ago, the U.S. has supplied $10 billion or more a year to Baghdad on semimonthly cargo flights carrying massive pallets of cash, drawn from Iraqi oil sales proceeds deposited at the Fed. In Iraqi hands, the bank notes have become a lucrative source of illicit dollars for powerful militias and corrupt politicians, as well as for Iran, U.S. officials say"
Article: "Iraq prohibits cash withdrawals in dollars as of the beginning of 2024".
Quote: "A senior official in the Central Bank of Iraq said that the country will ban cash withdrawals and transactions in US dollars as of January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes...dollars deposited in 2024 can only be withdrawn in local currency at the official rate of 1,320 dinars to the dollar.
Kurdistan PM meets US Embassy Representative: focus on political developments and oil exports , 7 OCT
Kurdistan PM meets US Embassy Representative: focus on political developments and oil exports , 7 OCT
Shafaq News/ On Wednesday, the Kurdish Prime Minister, Masrour Barzani, met with David Berger, the Chargé d'Affaires at the US Embassy in Iraq. The meeting centered on political developments in Iraq and the pivotal topic of resuming oil exports through Turkey.
A statement by Barzani's office said that the prime minister and Berger delved into the latest developments and the overall situation in Iraq, emphasizing the vital necessity of safeguarding the constitutional and financial rights of the Kurdistan Region.
A significant consensus emerged during the meeting, highlighting the urgency of restarting oil exports from the Kurdistan Region through the Turkish port of Ceyhan. Both sides stressed the importance of swift action in this regard, underscoring the economic significance of this step for the Kurdistan Region.
The two sides discussed the Kurdistan Parliament elections, indicating the commitment to democratic processes in the region.
Furthermore, the Chargé d'Affaires of the US Embassy in Iraq expressed gratitude to the Kurdistan Regional Government for its rapid response and support to the tragic Al-Hamdaniyah fire incident victims.
He commended the peaceful coexistence enjoyed by the diverse components of the Kurdistan Region, highlighting Kurdistan's pluralistic and harmonious social fabric.
"RV UPDATE" BY MILITIAMAN, 7 OCT
Militia Man
The parallel market is a black market. It's illegal. They're not supposed to be doing it. They're only supposed to be doing trade in dinar...At some point in time, whether it be today, tomorrow, the next day or out to the end of the year, they're going to de-dollarize the country...
There's illicit trade going on and there's fraud/money laundering and the ultimate goal is to get rid of it...If you're going to de-dollarize the country you're going to need to bring it [dinar] some value because a dollar is worth a lot more than a dinar at the moment...
Iraq went to the U.N. and told everybody they were a free sovereign state. That goes along with having a sovereign currency...and then to be able to go into the international financial system...
All of that is on the table...I don't think there is anything stopping them. I don't know if this is going to happen in the next 24-48 hours or if it's going to still be a significant amount of time. Bottom line is we can see them moving forward ...I'm elated and I think it's going to be a good week.
Expert says CBI should stop acting like a forex speculator, 7 OCT
Expert says CBI should stop acting like a forex speculator, 7 OCT
Shafaq News/ An Iraqi economic expert on Saturday said that the Central Bank of Iraq (CBI) should stop selling dollars in exchange for the national currency, suggesting leaving this matter to the "black market" in a bid to achieve market stability.
"There are two main reasons behind the abrupt increase in the dollar exchange rate," Dana Mawloud told Shafaq News Agency, "First, it was the CBI announcement that it would halt the injection of dollars into the market starting from the beginning of the coming year. Media sensationalism has played a role also, affecting the decisions of citizens to hoard dollars instead of the local currency."
On the reasons behind the Central Bank of Iraq's decision to stop injecting currency in 2024, he added, "The Central Bank of Iraq, in coordination with the International Monetary Fund, has made this decision with the approval of the US Treasury. It will be implemented starting from January 1st next year to prevent the US dollar from reaching Iran and Turkey from Iraqi markets, as those two countries are the largest purchasers of US dollars from Iraqi markets."
"The Central Bank is the sole entity selling foreign currency in the markets and acts as the exchange office. There is no bank or financial institution in the world that operates by selling its reserves of foreign currencies."
"The issue should be left to the black market, and the central bank and other banks can exchange foreign currencies at the government-set rate," he explained, "this way, the exchange rate of the dollar would stabilize between the government-set rate and not exceed 137,000 dinars per 100 dollars."
He also pointed out that "the reasons for currency smuggling stem from the fact that the dollars injected by the Central Bank of Iraq do not go to the citizens but to banks and companies that do not benefit the Iraqi citizens."
Today, the exchange rate of the US dollar against the Iraqi dinar closed at 158,500 dinars to in the Sulaymaniyah stock exchange.
https://shafaq.com/en/Economy/Expert-says-CBI-should-stop-acting-like-a-forex-speculator
Iraqi Leaders Unite: A Solidarity Stand for Palestine, 7 OCT
Iraqi Leaders Unite: A Solidarity Stand for Palestine
In an unprecedented move, the leaders of the ‘coordination framework’ in Iraq have come together to express their unanimous support for Palestine. Among the leaders are notable figures such as Al-Maliki, Haydar Al-Abadi, Qais Khazali, Abdel Aziz Al-Hakim, and Hadi Al-Amiri.
A United Front for Palestine
The coordination framework is an amalgamation of influential political figures from various Iraqi factions. It was established with the intention of addressing national interests and regional affairs. The collective voice of this framework carries significant weight in the Iraqi political landscape. Their agreement to stand united in their support for Palestine underscores the solidarity and shared commitment to the Palestinian cause within the Iraqi leadership.
While the specifics of their support were not detailed, the development highlights the importance of the Palestinian issue in the region and the readiness of Iraqi leaders to present a unified front. The implications of this unanimous support could have far-reaching effects on the broader regional dynamics and the ongoing Israeli-Palestinian conflict.
A Meeting of Minds
Adding to the significance of this development, Ziad al-Nakhala, the Secretary-General of the Palestinian Islamic Jihad movement, recently visited Iraq. During his visit, he met with Iraqi President Abdullatif Jamal Rashid and Prime Minister Mohammad Shia al-Sudani. The discussions revolved around the Palestinian issue, Israel’s practices, and the necessity for Palestinian unity.
The Iraqi leaders expressed their support for the Palestinian cause and their readiness to stand against Zionist aggression. This high-profile meeting further solidified the Iraqi leaders’ commitment to Palestine and underlined the significance of the Palestinian issue in regional affairs.
Implications of the Unanimous Support
The unanimous support for Palestine from Iraq’s leading political figures could have significant implications for the region and the Israeli-Palestinian conflict. It sends a strong message of solidarity and unity, possibly influencing other nations in the region to take a stauncher stance on the issue.
Moreover, it could potentially shift regional dynamics, sparking further dialogues and negotiations for the resolution of the Israeli-Palestinian conflict. However, the precise impact remains to be seen as the situation unfolds.
Looking Ahead
This development signifies a significant step in the ongoing Israeli-Palestinian conflict. It emphasizes the importance of the Palestinian issue in the region and encourages a unified approach towards its resolution. The unanimous support from these influential Iraqi figures may well serve as a catalyst for change in the broader regional dynamics.
https://bnn.network/world/iraq/iraqi-leaders-unite-a-solidarity-stand-for-palestine/
"RV UPDATE" BY FRANK 26, 7 OCT
Frank26
Sudani went and told all the contractors he signed with, they can come into Iraq without any restrictions.
That's Article VIII...You are a sovereign country. You can do whatever the hell you want to do with your currency and exchange rate.
It [the dinar] will be introduced internationally. I don't care if it stays at 1132 as long as it's international.
What is that definition?
Restrictions free...The next step of the Iraqi dinar should be coming out... International equals a new exchange rate.
[Iraq boots-on-the-ground report]
FIREFLY: They are saying within two weeks it will be the first step of the electronic transfer formation.
FRANK: In two weeks they told Iraqi citizens they will be the first step of the electronic transfer formation? Which started on the 28th of last month? So what are your intentions in two weeks CBI? What are you sending across your border internationally?
[Iraq boots-on-the-ground report]
FIREFLY: We are celebrating our independence and being a sovereign country...Sudani...talking about how we will not allow others to rule over us...
FRANK: Congratulations...your country is now
restriction free...You are a sovereign country...Your country is secure and stable...These are the two magic words Dr. Shabibi the author of your monetary reform plan wanted before he released the new exchange rate and new currency.
We see the evidence of the financial international transactions on the 28th. We see the private banks opening with Aki [Guru Walkingsticks Iraq bank friend in the US- October 1st]. We see Independence Day [Tuesday October 3rd].
The only thing we're not seeing is the HCL. Why? Let me ask you something. Did they release the new exchange rate? No. What did I tell you? The moment you see the HCL in the next nanosecond you will see the new exchange rate...
Iran Urges Iraq to Implement Security Pact, Reveals Regional Tensions, 7 OCT
Iran Urges Iraq to Implement Security Pact, Reveals Regional Tensions
Iran’s highest-ranking military officer has issued a call to arms, urging Iraq to enforce a security pact signed earlier this year in March. The agreement, crafted with an eye towards regional stability, calls for the disarmament of groups within Iraq that have been deemed anti-Iran. The general’s plea underscores Iran’s growing concerns about potential security threats emanating from Iraq, and the expectation that Iraq will take more decisive action to address these concerns. This unfolding situation has far-reaching implications for the relationship between the two countries and the broader regional dynamics.
Understanding the Security Pact
The security pact, signed between Iran and Iraq, aims to disarm groups within Iraq that operate against Iran. Iran has long accused the Kurdistan Regional Government (KRG) of providing a safe haven for opposition groups, labelling them as ‘terrorist’ or ‘anti-revolutionary’. These groups, according to Iran, use border regions as launching pads for strikes against Iran.
Overseeing the implementation of the security pact is Iraq’s National Security Advisor, Qasim al-Araji, who leads a high-level security delegation tasked with visiting the Kurdistan autonomous region. The urgency of the issue is further underlined by a warning from Iranian Defense Minister, Mohammad Reza Ashtiani, stating that Tehran will not extend the disarmament deadline and may resort to military action if the terms of the agreement are not met by Iraq.
Unpacking the Regional Dynamics
This development is set against a backdrop of complex regional dynamics. Iran’s call for the enforcement of the security pact is not simply a bilateral issue between Iran and Iraq; it’s a matter that has the potential to influence the geopolitical landscape of the Middle East. The presence of anti-Iran groups in Iraq poses a significant threat to Iran’s national security and stability. The successful implementation of the pact could lead to a more secure region, which could, in turn, favour diplomatic relations and economic growth.
Future Ramifications
The enforcement of the security pact has the potential to significantly alter the regional dynamics in the Middle East. If Iraq successfully disarms the anti-Iran groups, it could lead to a reduction in cross-border incidents, fostering a more stable environment. However, if Iraq fails to meet the terms of the agreement, it could lead to a deterioration in Iran-Iraq relations and potentially escalate the conflict, with Iran threatening military action. This could further destabilize the region and have implications for international relations as well.
A Call to Action
In the end, Iran’s call for the enforcement of the security pact is a plea for stability and security in a region often plagued by conflict. The successful implementation of this pact could be a step towards deescalating tensions and fostering a more peaceful Middle East. However, the failure to do so could have grave consequences not just for Iran and Iraq, but for the broader region as well.
https://bnn.network/world/iraq/iran-urges-iraq-to-implement-security-pact-reveals-regional-tensions/
Robust US Dollar Edges Up Against Iraqi Dinar: A Comprehensive Overview, 7 OCT
Robust US Dollar Edges Up Against Iraqi Dinar: A Comprehensive Overview, 7 OCT
The U.S. dollar exchange rate against the Iraqi dinar marked a rise in the markets of Baghdad and Erbil. The USD recorded a closure rate of 158,800 IQD to 100 in al-Kifah and al-Harithiya Central Exchanges, which is 1,300 IQD higher than the opening rate. In the parallel markets of Baghdad, the selling and buying rates of the USD settled at 160,000 and 158,000 IQD to 100, respectively. Meanwhile, in Erbil, the selling and buying rates were recorded at 158,900 and 158,500 IQD to 100, respectively.
Exchange Rates in a Broader Perspective
According to the latest exchange rate data from Xe, the live exchange rate for the U.S. dollar to Iraqi dinar is 1 USD = 1304.2227 IQD. The rate is updated minutely, and the exchange is available between Sunday 22:00 and Friday 22:00 (UK time). The historical charts and data reveal that the USD to IQD rate has remained relatively stable over the past week, with a slight increase in value. The current rate is higher compared to the previous day’s rate. Conversely, the exchange rate for the Iraqi dinar to the U.S. dollar is 1 IQD = 0.0008 USD. The rate remains relatively stable, with the current rate being the same as the previous day’s rate.
Understanding the Historical Context
The Iraqi dinar has experienced fluctuations in value against the U.S. dollar over time. However, over the past 12 months, the dinar has seen a rise in value, increasing by 11.42%. Looking ahead, analysts and projections from Trading Economics forecast that the Iraqi dinar will be priced at 0.000744726 USD by the end of this quarter and 0.000689305 USD in one year.
The Broader Implications of Exchange Rates
Overall, the exchange rate between the U.S. dollar and the Iraqi dinar has been relatively stable in recent days, with slight fluctuations in value. The current rate favors the U.S. dollar, with 1 USD being equivalent to 1304.2227 IQD. However, it’s essential to note that exchange rates can be influenced by various economic and geopolitical factors, and they may change over time. Such fluctuations can have far-reaching impacts on global trade, investments, and the economic stability of countries involved.
"RV UPDATE" BY MARKZ, 7 OCT
MarkZ
…no update yet...from redemption center folks...as to whether they expect to work this weekend. I have been hitting a brick wall…their phones seem to be turned off…. I don’t know if that is a great thing or a coincidence. Yesterday a number of them told me they are on “stand by” specifically for currency exchanges. I think this is huge. Let’s see if something comes of it.
More chatter on the Iraqi side of things with great expectations for the weekend. Most are looking Late Saturday/early Sunday for something from Iraq. Some type of announcement?
A lot of my sources feel that Monday is our day…A lot of them …actually...think our day is before that and Monday is when we start going to the bank!
They are all expecting big things this weekend. I am hesitant to say if it’s a “go” or “not a go” just yet. But I am excited about the potential. There is nothing negative at all.
We have not seen that in a very, very long time…and
I have never gotten it from multiple states in different areas that are un-related…AND, these are from different top-tier banks. So this is something going out from multiple banks…in multiple states.
“Iraq asked for $1 Billion in cash and this time Washington said no” This is from the WSJ. Iraq is between a rock and a hard spot for foreign currency….
They are not yet fully internationally recognized. There are still some sanctions and controls there. Going fully international with a rate change would fix their woes. Iraq has everything at stake for this revaluation.
Question: Any news on Iraq and the WTO? MarkZ: When I find out – I will tell you. I think this is a big “tell” they are trying to keep from us. If they let this news out before they are ready for us…it would be a mad dash for everyone to buy Iraqi dinar…It would be a clear signal of a changing rate…so my guess is they have already been accepted and are waiting to announce the value…that is my best guess.We are hearing some conflicting opinions that we need the house of representatives to be back with a new speaker of the house to remove the remaining sanctions on Iraq. It is my understanding the bill is already at the senate and it could happen at any time.
Iraqi Residents Protest Surge in Dollar Exchange Rate Amidst Banking Concerns, 7 OCT
Iraqi Residents Protest Surge in Dollar Exchange Rate Amidst Banking Concerns, 7 OCT
Residents of Erbil in Iraq have been gathering outside banking establishments, voicing their concerns over a sharp increase in the exchange rate of the US dollar. In an unprecedented surge, the exchange rate reached 158,750 dinars for 100 dollars in the selling market. However, the buying rate remained stable at 156,000 dinars.
Roots of the Issue
This surge in the exchange rate is attributed to the US blacklisting 14 Iraqi banks on suspicions of money laundering and funneling funds to Iran. The ban, imposed by the US Treasury Department and the Federal Reserve Bank of New York, has led to serious concerns about the Central Bank potentially reducing the cash sale of the dollar through currency auctions in Baghdad.
The Protesters and Their Demands
The protests have been organized by a group called Thuwar Tishreen (October Revolutionaries), which is connected to a movement that started mass protests in Iraq in 2019. Their demand is simple – the government must take action to halt inflation. The central bank chief, Ali al-Allaq, has stated that the rise in the street price of the dollar is due to the reluctance of certain merchants to use the official electronic platform for currency requests.
A Historical Perspective and Future Ramifications
This is not the first time the dinar has experienced a dive in value. Measures taken by the US in late 2022 to combat money laundering and the channeling of dollars to Iran and Syria severely restricted Iraq’s access to hard currency. The Iraqi Prime Minister, Mohammed Shia al Sudani, has met with al-Allaq to discuss measures to stabilize the dinar price against the dollar. If the current crisis isn’t deftly managed, experts fear it may bring about an economic downturn, further impacting the common citizens of Iraq. The ripple effects may be felt across the region, influencing economic and political dynamics.
Iraq’s Central Bank Assures Continuity of Dollar Shipments Amid Economic Strains, 7 OCT
Iraq’s Central Bank Assures Continuity of Dollar Shipments Amid Economic Strains
In the face of mounting speculations, the Central Bank of Iraq has confirmed the uninterrupted flow of scheduled dollar shipments from the US Federal Bank. This announcement comes as an attempt to dispel rumours regarding any halt or reduction in the dollar shipments to the country. The bank emphasized the importance of obtaining information from approved sources to maintain the integrity of financial news and foster public trust.
Iraq’s Fiscal Challenges: Rising Dollar Demand & Falling Dinar
The Iraqi dinar has recently experienced a significant drop, with its value falling to around 1,750 dinar per dollar on the street, as opposed to the official rate of 1,460 dinar per dollar. This devaluation has sparked public anger and protests across the nation. The decline in the dinar’s value is largely attributed to restrictions imposed by the United States on Iraq’s access to dollars. This move, designed to combat money laundering that benefits Iran and Syria, has inadvertently caused shortages in Iraqi banks and exchange houses, thus spiking the demand for dollars on the black market.
The US has been increasingly wary of the flow of dollars through Iraq’s foreign currency auction, which has allegedly been exploited for illicit activities and to channel funds to sanctioned countries. Despite the Central Bank of Iraq’s efforts to rectify the situation and improve access to currency, the devaluation of the dinar continues, and the government faces mounting pressure to stabilize the currency and address the country’s economic challenges.
Iraq’s Rejected Request: US Cites Security Concerns
The Central Bank’s announcement follows the US Federal Reserve Bank’s rejection of Iraq’s request for a billion-dollar cash withdrawal. The refusal was motivated by concerns about unauthorized cash flows to Iran and the potential involvement of militias and corrupt politicians. Given the tense geopolitical climate and the existing financial sanctions on Iran, this decision underscores the US’s resolve to mitigate risks associated with illicit fund transfers.
Looking Ahead: Economic Stability Amid Geopolitical Tensions
The Central Bank of Iraq’s statement provides a glimmer of hope to an economy grappling with fiscal challenges. While it assures the continuity of dollar shipments, the underlying issues contributing to the devaluation of the dinar and the heightened demand for dollars persist. As the Iraqi government strives to stabilize the currency and bolster its economy, it must also address the larger geopolitical challenges that indirectly affect its financial stability.
"RV UPDATE" BY MNT GOAT & BRUCE, 7 OCT
Mnt Goat
I asked [my CBI contact in Iraq] about the project to delete the zeros and was told it is coming and is now an active project no longer just a later project.
I asked for some target dates and was given that they planned to redenominate sometime prior to the end of the year. To me this is so inline what we are thinking for a January 2024 reinstatement timeframe and other events also lining up.
Bruce
[via WiserNow] They are trading the rates up. Iraq did what they needed to do. They're all good to go. They've already been sending out hydrocarbon law funds on the on the profit sharing, if you will of the oil and gas in Iraq...
maybe we get notified Saturday, maybe it's Monday afternoon, but either way we go we're definitely moving forward this final result for us...
I don't really talk specifically on rates...But...we've got very strong rates on dinar and Dong well into double digits.
Iraq’s Central Bank Urged to Cease Dollar Sales and Rely on Black Market for Stability, 7 OCT
Iraq’s Central Bank Urged to Cease Dollar Sales and Rely on Black Market for Stability, 7 OCT
An economic expert in Iraq has urged the Central Bank of Iraq (CBI) to adopt a radical new approach to achieve market stability. The expert recommends that the CBI cease selling dollars in exchange for the national currency, instead suggesting that the bank should leave it to the black market to stabilize the currency. This controversial proposal has sparked significant debate in economic circles.
Counteracting Currency Smuggling
The expert’s recommendation hinges on the belief that currency smuggling is a direct result of the central bank’s current practices. He argues that the dollars injected by the CBI into the market do not benefit Iraqi citizens, leading to the smuggling of currency. By leaving the issue to the black market, the theory is that the exchange rate may stabilize naturally without the need for government intervention. While this approach is unorthodox, it reflects the dire economic conditions in Iraq and the need for innovative solutions.
A Coordinated Effort
The expert indicates that the decision to halt the injection of dollars into the market from the beginning of next year is a coordinated effort with the International Monetary Fund (IMF) and the US Treasury. This action is intended to prevent the US dollar from reaching Iran and Turkey, thereby curbing the influence of these countries in the region. The central bank and other banks will be expected to exchange foreign currencies at the government-set rate to maintain some level of control over the exchange rate.
The Future of Iraq’s Economy
The exchange rate of the US dollar against the Iraqi dinar closed at 158,500 dinars in the Sulaymaniyah stock exchange, a rate that is reflective of Iraq’s struggling economy. If the CBI does adopt the black market approach, it will be a significant shift in the country’s economic policy. The response from the international community and the impact on Iraq’s economy are uncertain, but the proposal is indicative of a growing desire for drastic change to address the economic issues in the country.
Weekend News with MarkZ 10/07/2023
Weekend News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
CBD Gurus are for the first 30 minutes…then Mark with the news.
MZ: Very quiet overnight on the RV side…..but, great expectations for this weekend or the first part of this week.
MZ: My redemption center folks are on call this weekend. They are not at work….they are “on call”
MZ: Last week I told you all that I know a number of bankers not involved in the redemption process put on “stand by” for imminent currency value changes. I thought this was huge news.
MZ: No news on CMKX, Prosperity Packages or deliveries. Mr. C has not been paid yet…
MZ: It's inevitable that we are going to see a reset…..But, remember- nobody knows the exact date and time the reset will happen.
MZ: “ $17,400,000,000 in US Treasuries dumped by BRICS nations China, Brazil and Saudi Arabia in one month” That’s 17 billion 400 million in US treasuries just dumped. Andy Scectman told us this would happen. People are dropping them…the money is running back to the US and inflation will keep rising……this is part of the global crisis going on
MZ: “BRICS –Putin calls on alliance to reform global finance” He is reference payments systems to compete with the SWIFT as they work in their own personal currencies. Instead of all using the US currency like they do now…..This is all part of the reset going on. .
Member: Mar 31, 2023 — Depositors drained another $126 billion from U.S. banks during the week ending March 22, according to new Federal Reserve data.
Member: Traveling back to Puerto Rico tomorrow….See everyone for coffee Monday Morning.
MZ: My bank crew is sure ramped up and expecting something big this week.
Mod: HAVE GREAT WEEKEND AND SEE YOU AT 10:00 AM EST. MONDAY!!
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND ! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
"RV UPDATE" BY WOLVERINE, 7 OCT
Bearded_PatriotUSA
Telegram post
10/6/23
Forwarded From Wolverine:
Been told to keep your eyes on your emails as notifications are coming out this weekend. This all starts out in a few days.
God bless you all.
Wolverine
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Al-Sudani receives an official invitation to visit Sultanate of Oman, 22 DEC
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