The only reason why people are picking up dollars on the black market...is you can get a lot more Iraqi dinars than you could at the official exchange rate at the Central Bank of Iraq.
So if you're trying to make ends meet and you happen to get your hand on dollars because you got relatives over there in the United States making good money and they're sending some money back to you well of course you want your dinars to stretch.
You're going to get more dinars for your dollar...Iraq needs to increase their exchange rate so the desire to want to get rid of your dinars decreases and people start using the dinars and not needing a dollar so much...
It's definitely going to revalue. They're under sanctions, as soon as the sanctions are lifted and Iraq can get their crap together then definitely it'll be done...
If they remove the sanctions I'm curious to see if they're going to go up in increment or are they going to just reinstate the $3.22 rate. That's always a possibility...
Released from their sanctions that's what we're really waiting for. So even if we woke up in the morning and you found out the Iraqi dinar had been reinstated to $3.22, Hallelujah, We're rich right?!?
Jumping around celebrating. But where are you going to redeem your dinar at if they are still under sanctions? Your options are going to be very limited here in the United States. Chase Bank still deals with the Iraqi dinars but not a lot of other companies or banks do just because of the sanctions...Will they be released from their sanctions before the revaluation or if they do an RI will they be released from their sanctions?
Oil rises after Saudi Arabia and Russia commit to voluntary cuts. Brent at $85
Baghdad Today - Follow-up
Oil prices rose on Monday (November 6, 2023), after Saudi Arabia and Russia, the world's two largest oil exporters, confirmed the continuation of voluntary cuts in their production until the end of the year, which keeps supply tight while investors await tougher US sanctions on Iranian oil.
By midnight GMT, Brent crude futures were up 41 cents, or 0.5 percent, at $85.30 a barrel, while US West Texas Intermediate crude was at $81.05 a barrel, up 54 cents, or 0.7 percent.
In line with analysts' expectations, the Kingdom confirmed it would continue to reduce its voluntary output of one million bpd, bringing its output to nine million bpd in December, an energy ministry source said in a statement.
The source stressed that "this additional voluntary reduction comes to strengthen the precautionary efforts made by the OPEC+ countries with the aim of supporting the stability and balance of oil markets."
Following the Saudi statement, Moscow also announced a continuation of voluntary production cuts of 300, <> bpd from its crude oil and petroleum products exports until the end of December.
Both contracts saw their second consecutive weekly decline last week, down about 6 percent, driven by a easing of the geopolitical risk premium that arose from fears of supply disruptions due to the potential for conflict in the Middle East.
Israel on Sunday rejected mounting international pressure for a ceasefire as the US secretary of state sought to contain a crisis that threatens further escalation in neighboring Lebanon.
ANZ analysts said in a note: "The risk premium associated with the geopolitical background has completely disappeared after two weeks of volatile prices."
"Market focus has shifted to demand expectations that remain uncertain," they added.
Investors this week are looking for more economic data from China after the world's second-largest oil consumer reported disappointing factory data for October last week.
Tony Sycamore, analyst at IG Markets in Sydney, expects oil prices to be weighed down by news from the Middle East and technical charts this week.
He added that WTI crude needs to stay above the support level of $80 a barrel early this week, otherwise prices could fall to the low of $77.59 hit in August.
The US House of Representatives on Friday approved a bill to strengthen sanctions on Iranian oil that would impose measures on foreign ports and refineries (TADAWUL:2030) that refine oil exported from Iran if it is signed into law.
The Iraqi Parliament "ends" its legislative term with "pending" calls to hold emergency sessions
11/6/2023
The Parliamentary Strategic Planning Committee revealed, on Monday, the end of the legislative term of the House of Representatives, while there are many requests to hold sessions regarding resolving many laws and decisions, indicating that the current year will not witness the holding of any parliamentary session.
This comes after a number of members of the House of Representatives called for emergency sessions to discuss the situation in Gaza on the one hand and to discuss closing the American embassy on the other hand.
The Vice Chairman of the Committee, Muhammad Al-Baldawi, told Shafaq News Agency, “The oversight role of the House of Representatives continues and has not stopped, an d there is a presence of members of the House of Representatives in the parliamentary committees to follow up on the departments and ministries according to the work of the committees.”
He stated that “the current legislative term of the House of Representatives will officially end on the 9th of this month, and the data indicate that it is not possible to hold any session due to the preoccupation of many members of the House in preparing for the governorate council elections,” stressing that “the current year will not witness the holding of any parliamentary session and will resume holding.” Sessions in the new legislative term at the beginning of next year.” LINK
Progress is developing the second largest oil field in Dhi Qar
Dhi Qar Oil Company announced significant progress in implementing engineering and service projects in the second-largest oil fields in the governorate on Sunday.
The company mentioned in a statement received by [insert recipient], that the projects are being implemented based on the directives from senior management at Dhi Qar Oil, aimed at increasing the production capacity of the Sabah oil field and improving the work environment for employees.
She listed various projects including ones for the mobile station site, IT building, evaporation basin, service road rehab, and cafeteria building.
It was pointed out that there are other plans to rehabilitate the main road networks and bridges that connect to the central and northern stations. Additionally, service buildings and roofs will be constructed.
A law that specifies 5 conditions that must be met by the candidate for governor of the Central Bank
On Sunday, legal expert Ahmed Al-Bawi commented on the circulating names and the potential nomination of a new governor for the Central Bank of Iraq. Al-Bawi emphasized the importance of meeting five specific conditions for any candidate seeking to fill this position.
Al-Bawi stated in an interview with “Jarida” that the selection of any individual for a position of responsibility must be based on solid principles, primarily integrity, followed by scientific expertise, administrative experience, and the courage to make bold decisions, especially in light of the challenging economic situation that the Iraqi economy is currently facing.
“The candidate needs to propose innovative and practical solutions to prevent the further appreciation of the US dollar and the devaluation of the Iraqi dinar. They should also ensure that the political leaders provide assurances for the restructuring of the central bank and other financial institutions and eliminate any corrupt practices that are currently impacting the currency auctions.”
He stated that the ideal candidate should have a clear plan for handling the American Federal Reserve. It is also acceptable if the candidate has a distinguished background in international relations, as long as they use their experience to benefit the public. Additionally, Iraqi law prohibits any individual from holding a position if they have ongoing cases or charges against them in the Iraqi courts. However, it has yet to be determined whether these requirements will be enforced.
The dinar cannot go up in value until Iraq diversifies and creates significant economic growth. The current conditions in Iraq will continue to keep the dinar weak...Until they pass laws...there will be no change. We have a window now over the next three years...
Pimpy
It's definitely going to revalue. They're under sanctions, as soon as the sanctions are lifted and Iraq can get their crap together then definitely it'll be done...If they remove the sanctions I'm curious to see if they're going to go up in increment or are they going to just reinstate the $3.22 rate. That's always a possibility..
Released from their sanctions that's what we're really waiting for.
So even if we woke up in themorning and you found out the Iraqi dinar had been reinstated to$3.22, Hallelujah, We're rich right?!? Jumping around celebrating.
But where are you going to redeem your dinar at if they are still under sanctions?
Your options are going to be very limited here inthe United States. Chase Bank still deals with the Iraqi dinars butnot a lot of other companies or banks do just because of thesanctions...Will they be released from their sanctions before the revaluation or if they do an RI will they be released from their sanctions?
Surge in Dollar Prices Strikes Baghdad and Erbil Amid Stock Exchange Closure
The cities of Baghdad and Erbil in Iraq were hit by a significant surge in dollar prices on Monday, coinciding with the closure of key stock exchanges. In Baghdad, the exchange rate escalated to 166,800 dinars for 100 dollars, a notable increase from the morning’s rate of 164,250 dinars. Local exchange shops followed suit, raising their selling prices to 167,750 Iraqi dinars for 100 dollars. Similarly, in Erbil, the selling price spiked to 166,250 dinars for 100 dollars.
Underlying Factors and Implications
The accelerated dollar prices are primarily linked to rampant speculation on the stock exchanges and an ongoing scarcity of supply in the market. The closure of the Al-Kifah and Al-Harithiya stock exchanges disrupted the usual flow of currency exchange, leading to a dollar shortage. This gap has fueled speculation and increased demand, pushing the prices up. The situation is further worsened by the existence of “black transfers”—illegal or unregulated money transfers utilized by small merchants for their imports. Despite government measures to curb them, these black transfers continue to operate, contributing to the crisis.
Seeking Solutions
The Iraqi government, along with the central bank, bears the responsibility of resolving this crisis. One suggested approach involves engaging in dialogue and negotiation with the American side to tackle the issue of black transfers. The government aims to legitimize and regulate these transfers to bridge the gap between the official and parallel exchange rates. However, this solution necessitates cooperation and coordination between various stakeholders, both within Iraq and with external partners.
Economic and Geopolitical Implications
The surge in dollar prices carries broader implications for the Iraqi economy. The high exchange rate has led to an increase in the prices of goods and commodities, affecting the purchasing power of Iraqi citizens. The rising cost of living strains households, especially those with limited income. It also impacts businesses negatively, as higher import costs and inflationary pressures challenge profitability. Besides, the surge in dollar prices coincides with U.S. Secretary of State Antony Blinken’s visit to Iraq. His presence in the region amid warnings from Iran-backed groups adds another layer of complexity to the situation, highlighting the need for diplomatic efforts to maintain stability in the region.
Iraq’s Central Bank Witnesses Surge in Foreign Exchanges Amid Economic Challenges
The Central Bank of Iraq’s (CBI) foreign exchanges have witnessed a substantial 86% rise, hitting a marked $199 million in cash sales. These transactions, covered at an exchange rate of 1,305 dinars per dollar for various exchanges and at the rate of 1,310 dinars per dollar for foreign transfers, primarily bolstered balances abroad in the form of transfers and credits, amounting to $199,757,755. Cash dollar purchases were made by four banks, while 22 others sought to enhance their foreign balances. A total of 48 exchange and intermediary companies engaged in the auction.
Implications of Rising Dollar Prices
Despite this significant increase, concerns over escalating dollar prices in Baghdad and Erbil have induced market closures. Adding to the economic instability are reported Turkish artillery attacks in the Kurdistan Region of Iraq (KRI). Further exacerbating the economic challenges is the surge in gold prices in both cities.
US Federal Reserve Restrictions: A Restricting Factor
Moeen al-Kadhimi, an Iraqi lawmaker, attributes the Iraqi government’s inability to control the exchange rate between the US dollar and the Iraqi dinar to the US Federal Reserve’s restrictions on external transfers from Iraqi banks. These impediments have affected daily transactions necessary for merchants, leading them to source US dollars from the parallel market, thereby inflating the exchange rate despite the Central Bank’s efforts.
Long-term Policies: The Need of the Hour
Al-Kadhimi proposes long-term policies to liberate Iraq’s financial system from growing US imposed restrictions. Suggestions include depositing oil deal revenues in the central bank instead of the US Federal Reserve and using other hard currencies in oil transactions. Al-Kadhimi perceives these restrictions as politically motivated. Despite market fluctuations, he opines that the Iraqi markets remain relatively stable. However, the consequences of rising dollar prices and market closures are significant for the economy and the Iraqi citizens.
Conflicting Reports and Speculations
Despite the challenges posed by these rising dollar prices, speculations on the Iranian Rial and the Dollar in Iraq have led to heavy losses. As the dollar recovers, dollar exchange rates in Iraq have seen a decline, and gold prices have dropped. The CBI has dismissed news about dealing with the ‘Libyan dollar’ as fake, hinting at potential misinformation.
The complexity of Iraq’s financial system is evident. While the CBI reports a significant increase in foreign exchanges, rising dollar prices, market closures, and US Federal Reserve restrictions continue to challenge the Iraqi economy. It is imperative for the government and relevant authorities to address these issues and implement long-term policies for financial stability and to mitigate impacts on Iraq’s citizens.
[via PDK] Seems that things appear to be heating up…so many rumors.
Chatter continues to be great and we will see if anything happens over this weekend. We have a lot of group leaders that seem to think this is it.
Here is another one that is putting pressure on this “re-valuation” "Amid war on Gaza – Egypt see highest exchange rate on US dollar in black market” So in the middle east the dollar is gaining and will cause regional issues and inflation. They are painting themselves in a corner without a reset. They need rate changes.
Nader From The Mid East
Purchasing power...when you buy for $100 over here [U.S.], over there [In Iraq] cost you $200. If it [dinar rate] goes to 1 to 1 if you buy it in America for $100, we'll buy over here for $100 too.
Iran and Allies Strive to Prevent Broader Conflict with Israel
Iran and its allies, including militant groups such as Hezbollah and Hamas, are striving to prevent a broader conflict with Israel. Despite their belligerent rhetoric and backing of several militant groups in the region, a comprehensive strategy for managing the situation seems to be absent. The powerful military force, Hezbollah, doubles as a political movement with substantial influence in Lebanon’s parliament. Its decision to wage war would likely necessitate Tehran’s approval. However, Iran and Hezbollah seem inclined to keep Israel and US forces in the region under constant pressure through harassment attacks, not instigating a broader war.
Surprises and Strategies
Recent events indicate that Iran and its proxies may not have predicted the scale and severity of Hamas’ attacks on Israel. Intelligence sources reveal that high-ranking Iranian officials seemed shocked by Hamas’ actions. Hezbollah’s leader, Hassan Nasrallah, denied any involvement by Hezbollah or Iran in his initial public comments on the Gaza war. He emphasized that the attacks were purely a Palestinian operation, stating that all options are on the table for a potential military response by Hezbollah against Israel.
Hezbollah’s Dual Role
Hezbollah, besides being a potent military force, is also a political entity. Following last year’s elections in Lebanon, the pro-Hezbollah bloc holds 58 out of 128 seats in the Lebanese parliament. Consequently, Hezbollah must respond to Lebanese public opinion to a certain extent. Considering the struggling Lebanese economy, it’s unlikely that the Lebanese people desire a repeat of the 2006 war, which resulted in billions of dollars in damages. Furthermore, any decision by Hezbollah to escalate the war would likely need Tehran’s approval.
Pressure over War
Iran and its proxy groups in Iraq, Lebanon, Syria, and Yemen appear to favor maintaining pressure on Israel and US forces in the region through harassment attacks, rather than instigating a broader war. While the ayatollahs in Iran may rhetorically seek Israel’s destruction, they are unlikely to instigate a large-scale regional war that could also involve the United States. The Iranian regime is grappling with significant domestic challenges, including protests against repressive policies and a struggling economy due to US sanctions. Therefore, Iran is more likely to act through its proxies in the region, maintaining pressure on Israel and the US without escalating to a full-scale war.
US Response and Iran’s Call to UN
In response to the ongoing conflict, the United States has deployed a strategic missile-armed submarine to the Middle East as a deterrent to regional adversaries. The Ohio-class submarine is equipped with 154 Tomahawk cruise missiles and can deliver a significant firepower quickly. The deployment of this submarine, along with two carrier strike groups and an amphibious group, sends a clear deterrent message to Iran and its allies. The US has stated that while it does not seek a conflict with Iran, it will take necessary measures to protect its personnel and interests in the region. On the other hand, Iran has called on the United Nations to take immediate action to end Israeli aggression in Gaza and lift the blockade on the Palestinian enclave. Iran accuses Israel of intentionally destroying urban and administrative infrastructure, hospitals, and educational centers, and violating over 30 UN Security Council resolutions.
In conclusion, Iran’s desire to avoid a broader war with Israel and the United States is evident. While Iran and its proxies continue to support militant groups in the region, they seem to prefer maintaining pressure through harassment attacks rather than instigating a full-scale war. The deployment of US forces, including a strategic submarine, serves as a deterrent to Iran and its allies. The ongoing conflict in the region remains a complex and volatile situation with significant implications for regional stability.
Iraq can play a pivotal role in solving the crisis in Gaza, Khamenei says
Shafaq News / Iran's Supreme Leader, Ayatollah Ali Khamenei, emphasized the need for heightened political pressure within the Islamic world against the United States and Israel. He stated this during his meeting with Iraqi Prime Minister Mohammed Shia Al-Sudani in the capital, Tehran.
Khamenei expressed his appreciation for Iraq's strong support for the people of Gaza, affirming the necessity of increasing political pressure in the Islamic world to halt the killing of Gaza's residents by the U.S. and Zionist forces. He highlighted Iraq's pivotal role, stating, "Iraq, as a significant nation in the region, can play a distinctive role in this regard, creating a new path in the Arab and Islamic worlds."
Addressing the dire situation in Gaza, Khamenei condemned the atrocities committed, pointing out direct American involvement in managing the war. He stated, "Regardless of the ongoing killings in Gaza, the Zionist entity has truly failed in this matter as it has been unable to restore its tarnished reputation and will not be able to do so in the future without American military and political assistance. The Americans are partners with the Zionists in the crimes against Gaza."
Khamenei stressed the comprehensive efforts needed to increase political pressure on the U.S. and the Zionist entity to cease the bombings in Gaza. He emphasized, "The Islamic Republic of Iran and Iraq can play a role and have an impact in this area through coordination between them."
Additionally, Khamenei discussed bilateral cooperation between Iran and Iraq in economic and security domains, stating, "Progress is being made, thanks to God, but it is crucial to ensure the continued implementation of agreements with the same initial zeal and without delay."
In conclusion, he expressed his sincere gratitude to Iraq, its people, government, and Prime Minister for their warm hospitality, services, and security arrangements during the forty-day period.
Economical 11/06/2023 Yasser Al-Metwally In order to distinguish between the advantages (benefits) and disadvantages (risks) of the cash reserve, we must understand the simplified definition of it, which means (all the foreign currencies that countries own and keep in their central banks).
Among the benefits of these currencies (cash reserves in foreign currency) is using them to finance their foreign trade first, and then to pay their debts second, and also more importantly, maintaining the stability of their local currencies, and third, dealing with financial crises and monetary inflation.
As for its risks, it is determined by restricting it (restricting its use by the countries that own it (i.e., exporting it).
We offer this simplified definition to those who do not know the importance of monetary reserves and their impact on economies, especially those who confuse monetary policy with useless statements, and of course those who are not specialists in economics and its risks.
There is no doubt that the dollar is still the strongest currency in the world despite all attempts to find a competitive alternative to it. The United States of America accounts for nearly a quarter of the global gross domestic product, which makes it the largest and strongest economic power in the world.
What adds to this strength is that it has the largest financial institutions and banks in the world, and that most of the global trade financing between countries is denominated in dollars, especially oil wealth, and dollar transactions constitute approximately 70 percent compared to other currencies combined.
Perhaps the weapon of sanctions that America imposes on countries that oppose its policy is through restricting its monetary reserve and not allowing it to use it. The two closest examples of this are Russia because of its war with Ukraine and before that Iran because of the failure to resolve the nuclear file between them. Notice the size of the impact of restricting the use of its foreign exchange reserve. What an impact? In their economic problems, especially the collapse of the local currency of the two countries, albeit at different rates.
Here, most of the countries that were dissatisfied with the strict American policy of using the dollar as a weapon to undermine their economies turned to the BRICS group in the hope that it would be able to mitigate the effects of the dollar. Returning to Russia and Iran, the reason for their resistance to the dollar sanctions is that they possess solid economic bases that allow them to endure for longer periods of time because they possess solid production bases.
The question is: Is the Iraqi economy able to endure if America decides to restrict its monetary reserves?
The Iraqi economy depends on imports for everything and does not have a solid production base, whether industrial or agricultural. Other than that, our cash reserves are subject to old decisions in the hands of America. We do not want to delve into the merits of the decisions and their effects. Rather, we only draw the attention of some gentlemen from the legislative and executive sectors. Do not put more pressure on the Central Bank, let it act in the language of approved monetary policy. In countries of the world, which are based on previously agreed upon international standards.
The chaos of statements makes matters worse, confuses the market, and pushes for wrong decisions, thus paving the way for specialists to deal with the dollar problem to find the appropriate solution.
The Dollar Continues To Storm Iraqi Markets, And Many Solutions Are In Vain
Economy 2023/11/05 Number of readings : 216 Baghdad - Iraq Today: With the return of the rise in dollar prices, popular dissatisfaction and anger are renewed, especially by poor citizens, after the possibility of a stifling economic crisis, which will cause great harm to their miserable living conditions.
The economic expert, Bassem Antoine, said in a press interview, “Economic reforms, in light of the rise in the price of the dollar against the Iraqi dinar, need a long time to complete what the current government seeks, by untying the dollar knot and ending the major crisis.”
He added, "Iraq needs to develop the economy in a way that is different from before, especially with regard to the agricultural, commercial, and tourism sectors," noting that "activating these sectors will contribute greatly to reducing poverty and unemployment rates, and increase the strength of the country's economy, which will strengthen the value of the Iraqi dinar." . LINK
Article: "PARLIAMENTARY FINANCE: WE RENEW OUR SUPPORT FOR THE CENTRAL BANK’S MEASURES TO CONTROL THE EXCHANGE RATE" Article quote: "Al-Atwani denied “the news circulating that there is a tendency to dismiss the governor of the Central Bank." Nice to see that it was just more rumors...He is an intelligent, patriotic and most important wants the RV as much as we do.
...We can see many events in-line with January 2024 . I want to bring you up to date on my latest conversation with my CBI contact... It was told to me that the re-education campaign is still going forward but not yet rolled out as of yet. There is talk in the CBI it may be postponed due to the Gaza strip conflict, but no action or direction has been given to signify this as of yet...
...in the news is yet more de-dollarization efforts as they convert the remaining of the border crossing stations all to “all dinars” only for custom fees. The Parliamentary Finance Committee renewed on Tuesday, its support for the Central Bank’s measures to control the exchange rate and address any obstacles...we learned that the new government of Al-Sudani made promises in his administrations curriculum to bring back the dinar stronger than the dollar. Is this why he has openly in public stated the dinar is already stronger than the dollar? Well then…where is it? As investors we wait for it.
A Representative Answers “Baghdad Today”: Why Did Government Measures Fail Against The Green Currency?
Economy |Baghdad today – Baghdad Independent MP Hadi Al-Salami confirmed today, Sunday (November 5, 2023), the failure of government measures to confront the “dollar mafias,” while renewing the demand to change the governor of the Central Bank, Ali Al-Alaq.
Al-Salami told “Baghdad Today” that “the dollar mafias that control the parallel market are still manipulating exchange rates despite all government measures, and this confirms the failure of those measures, as they are patchwork measures and do not contain any real reform measure.”
He added, "We are still demanding and working according to the constitutional powers granted to us in order to change the Governor of the Central Bank, Ali Al-Alaq, as he failed in the task of controlling the dollar exchange rate. Indeed, the dollar is constantly rising and the bank has lost control of that."
Today, Sunday (November 5, 2023), the dollar exchange rates witnessed a significant jump, exceeding 163 per hundred dollars in local markets in the capital, Baghdad.
The "Baghdad Today" correspondent said, "The selling price of the dollar in exchange offices in Baghdad today reached 164,250 dinars for every 100 dollars."
He added, "The purchase price reached 162,250 dinars for every 100 dollars."
On (November 2, 2023), a member of the Parliamentary Finance Committee, Jamal Kujar, revealed that a group of mafias and influential people controlled the dollar exchange rate through a “WhatsApp group.”
Cougar indicated in a televised interview followed by “Baghdad Today” that “there is a (group) on WhatsApp run by a group of influential people or mafias who control the exchange rate of the dollar in the parallel market,” calling on the security services from the intelligence and national security to intervene and follow up on the matter.”
A member of the Parliamentary Finance Committee confirmed that “personalities working in the stock exchanges referred to this (group) and demanded that the matter be conveyed to the relevant authorities to take urgent measures.”
On (last October 8), the expert in banking affairs, Ahmed Al-Tamimi, criticized the Iraqi Banks Association for not taking any position on what some private banks are working on to acquire the dollar illegally .
Al-Tamimi told "Baghdad Today", "Some private banks are working to illegally seize the dollar. They take the share of the traveling citizen and do not give it to him. Also, some banks refuse to hand over to the citizens the remittances that reach them in dollars, and all of this violates the law."
The expert in banking affairs stated that “the Iraqi Banks Association bears a large part of the illegal behavior that is happening in some private banks, especially since it has not yet taken any role from those banks. Rather, it remains silent and tries to evade its role in following up on the work of those banks.” ".
Meanwhile, economic expert Sarhank Hussein earlier accused the Association of Private Banks of being behind the rise in dollar exchange rates in the parallel (black) markets .
Hussein told "Baghdad Today", "The process of buying the dollar with cards by merchants and giving it to private banks is behind the rise in the dollar exchange rate again." LINK
The Sudanese advisor determines a set of procedures to monitor trends in the management of public funds
Baghdad,
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Sunday, the government’s work to reorganize and unify accounts in government institutions, while indicating that adopting electronic collection and payment will help unify the unified treasury system.
Saleh said, “The state’s public finances are working in high harmony with the government program, to reorganize, compile, and unify the accounts of spending or disbursement units in all ministries, regions, and governorates, from the state of dispersion in the past to the state of integration and integration with an interconnected aggregate accounting system, within the government accounts within the banking system.” Pointing out that it is “a proactive step towards achieving the single unified account for the treasury, or what is called the Treasury Single Account (TSA).”
Saleh added, “This step also aims to monitor financial transactions, flows, and existing government cash balances, moment by moment, in preparation for the next stage, which requires completing the complete electronic link between disbursement or public spending units, with a digital system called (ifmis), which means management system.”
Integrated Information Finance, which is the final advanced stage required by the unified treasury account system, is currently being worked on intensively and diligently by the Financial Authority.”
He explained, “Adopting electronic collection and payment systems will help unify the unified treasury system, specifically in the field of digital cash flows related to collection and electronic payment, so that digital financial activities are immediately integrated with the unified collective government bank accounts.”
Saleh continued: “This will add a source of organizational strength and speed that will bring the unified treasury account closer to its role towards faster integration into the digital climate and electronic payment systems, which have taken their positive role in organizing, speeding and governing cash flows, in order to know the cash presence of public finances clearly and daily, in addition to To facilitate the activity of financial control over trends in the management of public funds.” LINK
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Monday Update- 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
Member: Good morning Mark, mods & patriots!
Member: Good morning MZ! Hoping this is the week that starts the early retirement ball rolling.
MZ: Seems that things appear to be heating up…..so many rumors. Let talk about it.
Member: rumors, rumors…. just the facts ma'am…lol
Member: Phil G said we're at the end. Revalue rates have been set worldwide.Nesara may be starting?
Member: Phil G said RV and NESARA started yesterday morning. November 5th 2023!
MZ: Can we confirm Nesara started? No we cannot. But we are seeing interesting things with peoples personal credit scores and things being removed from them over the weekend]….could it be a pre-curser?
MZ: I am hearing that it has happened…but have not been able to confirm it in the real world. .
MZ: I am hearing banking side is expected to start Tuesday….and we should get some huge announcements. …So, I am hearing this but we cannot track it in the real world. But I am hearing it from many different sources. I am definently hearing this is it.
MZ: Taking this news with a huge grain of salt……just to be safe and manage my expectations.
MZ: A number of bankers expect liquidity to start Tuesday . Bond folks are hearing similar timing. Sources from every different direction are calling for it this week.
Member: I really believe something happened Nov1 and our main financial Gurus know something they CANNOT share with us!
Member: Bank story: I had a client yesterday who works in Bank of America wealth management. I asked her if she knew anything about the RV. She said YES and we are ready for it.
Member: A fifth bank shut down this weekend (on Daily Hodl). Iowa Citizen regional bank closed branches. 59 mil in deposit losses. Wow
MZ: “Military Official blows whistle-Big banks about to collapse –“ This is according to a podcast. He says there is about to be a major closure of all US banks which will last for up to 3 weeks. From a Colonel McGregor.
MZ: Why Do I mention this…I’m not trying to fear monger.…In the original plan –They said banks closing and martial law would last about 2-3 weeks. And during that time we would all exchange and reboot the banking system. I find it interesting that more and more people are looking at a 2-3 week shutdown. If we are prepared this will not be scary. Be sure to stock up on groceries in case it does happen….If it doesn’t…well you are still prepared if anything bad hits.
MZ: In Iraq: “Al Kazemi blames the US Fed Reserve for the rise in the dollar” Saying the US is playing games. And he is blaming the US Federal Reserve.
MZ: “$40,000,000,000 in unrealized losses hit JP Morgan Chase as Bank of America, Wells Fargo and Citigroup face exposure to US Treasuries report” China is selling them off and banks are taking it on the chin.
MZ: “Citigroup considering at least 10% job cuts in major businesses-CNBC” They are feeling the crunch and not making any money. Contrary to what Janet Yellen and Gerome Powell tells you.
MZ: “ BRUCS: What happens if Saudi Arabia ditches US dollar for oil? If they do not use the USD to buy oil……We will have trillions in US treasuries rushing back to the US economy. And causing hyperinflation and a crash.
Member: I just saw that Friday is the observed day for Veteran’s Day… there’s our 3 day weekend!!!!
Member: November is a great time to RV! Thanksgiving blessings!!
MZ: If just 1% of the rumors are true right now….we may be at the banks this week…imo
Member: Thanks Mark and mods…see you all tonight
CBD Gurus join the stream at the end.
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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.
Countries of the BRICS Alliance were soon activating their gold/asset-backed currencies as a result of the demise of the privately owned fiat US Federal Reserve Dollar and their quest for Global financial stability. This would cut off the Vatican’s Khazarian Mafia’s US Inc. money supply – which would mean an end to the Bank of International Settlements (BIS or Central Banks), UN, European Crown (EU) and Vatican – and reason why banks all over the World were failing this coming week, including the Deep State owned Central Banks.
If you were reading this Updateon, or from Operation Disclosure Official, be aware that the information has been redacted. For a complete un-redacted version, see a PDF copy at the end of the Update on Operation Disclosure Official, or read an un-redacted version on the Rumor Mill Website.
Global Currency Reset:
Sun. 5 Nov. Texas Snake: “I received the call this morning. We should see our messages within a matter of days this week. (Later on Sunday) I have even more confirmation regarding this being our week. My confirmation could come any time before Tues. so please remain alert.”
Sat. 4 Nov. TNT RayRen98: CBI to make some kind of an announcement tomorrow Sun 5 Nov. Zain Card to be reactivated.
Mark Z bank story: In Scottsdale [Arizona] there is a TruWest Credit Union ATM in the facility. A rep comes to service the machine. This person [name withheld by Mark] who works in the building is familiar with this ATM repairperson and asks him, “When are you bringing the new money for the machine?” He smiles and says, “Not yet.” So the person asks, “In December?” He replies that he doesn’t know when, but soon. Mark: In other words, they have already started the preparation process for these banks and the ATMs. And getting someone admitting in real life that they are preparing for it… To me, that was a lovely bank story.
As of Sat. 4 Nov. Gold backed countries (BRICS) were paying with their own currency for trading. This will greatly affect the value of the already fiat US Dollar.
Fri. 3 Nov. TNT: A lot of things are happening that pertain to the RV. Banks received memos on Wednesday, Thursday and today in black-and-white- “The Event” is happening. Banks were told that things are in motion ahead of them & going by levels, and waiting to get to them. But it’s in motion. Yesterday, Tony had the champagne out and ready because he was given a two hour window last night. There is another two hour window tonight. He has been told the window but he cannot tell us. But it is supposed to go tonight Fri. 3 Nov to Sat. 4 Nov. His tonight means anytime after 4 PM until 8 AM. Rates are great. Banks are ready. A three letter agency brought their people in last night thinking it was going to go. Hoping it’s tonight. Everyone is on alert – banks, agencies, Treasury.
Thurs. 2 Nov. Bruce: Two different banks reported that the window for exchanges to start was from now to Tues. 7 Nov. The window for notification to make exchange/ redemption appointments were from after 5 pm Fri. 3 Nov. to Tues. 7 Nov. mid morning. Other sources said notifications and appointments should occur in the next couple of days.
Arte on Telegram: “Ok guys I sat down with one of my banks branch managers today. They are Basel 3 and 4 compliant. I asked her about the RV and she said she just got an email coming through that said the Tues. 7 Nov. She’s checking in with her higher ups getting back to me. Her response was, how do you know all this? Lol hooowhooo let’s go!”
Overnight Sun. 15 Oct. the Banks completed the remaining layers of payments, plus the IMF and World Bank held their last meeting.
By Mon. 16 Oct. the Iraqi Dinar had revalued and began trading on the back screens of the Forex.
On Thurs. 26 Oct. President Trump said the next 7-8 days would be ones to be remembered.
On Fri. 27 Oct. the US began pulling 3,600 US troops out of Iraq so Iraq could declare themselves a Sovereign Nation, while the new rate of the Dinar was said to have gone International, although had yet to show on the front screens of the Forex.
Fri. 27 Oct. Alex Collier: “The Dinar went international on Fri. 27 Oct. and on that same Friday they began pulling 3,600 US troops out of Iraq so Iraq could declare Iraq a Sovereign Nation. Two days ago President Trump said the next 7-8 days would be ones to be remembered.”
Craig Wilson: “On Mon. 30 Oct. it was reported that about a week ago, the Iraqi GOI and the CBI, released to the US Treasury, the NEW International Exchange Rate! This came from an Iraqi Bank Partner of a bank here in the USA! It is also believed that the US Treasury has started some exchange steps with the CBI of some of the Iraqi Dinar that the US Treasury holds in its reserves! Sorry it’s not on ABC or NBC or any Fake Stream News yet, but it is from a source that IMO has credible information! That is all, carry on!!
Around Mon. 30 Oct. the country of Columbia revalued their currency – so now we have at least two countries – Iraq and Columbia – which have revalued their currencies, perhaps more.
Oct. 31 All Hallows Eve was when Middle Eastern nations no longer accepting the fiat Petro US Dollar for oil trade, was expected to soon cause a devastating Stock Market Crash – bringing in the need for a Global Currency Reset.
Tues. 31 Oct. Mr. Salvage on Telegram: There was a report that “The Paymaster of New York Michael J. Rubin said that everything was done. All money was in all banks and ready to go. All codes were in. The nation of Colombia was already liquid. Just have patience. We are there.”
No Digital Currency for the Deep State Cabal’s Central Banks: On Fri. 3 Nov. the House Financial Services Committee passed a bill to prevent the Federal Reserve from creating a Central Bank digital currency.