Weekend News With MarkZ and MilitiaMan
MarkZ 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
Mod: THECBDGURUS JOIN MARK FOR THE FIRST 45 MINS AND THE NEWS AT 10:30 AM! HAPPY SATURDAY EVERYONE!
Member: Morning all! It’s a great day for an RV!!!!
Member: GM, everyone, praying for everyone’s safety from this hurricane. Massive damage I’ve seen. So sad.
Member: Prayers for those in Tn and SC that got hit by hurricane and then the 2 dams that broke
Member: What’s up Mark?
MZ: MilitiaMan joins us today as well……Catch us up on what’s happening in Iraq
Member: I think things are going to go Nuts... Starting October 1st
Member: October 3rd is Iraq’s Independence Day …Might be an excellent day for the Iraqi Dinar to revalue ?!?!
MZ: “Al Sudani advisor indicates a significant development in Iraq’s financial capabilities during 2024” Talking about what they have accomplished with cleaning up banking, more non-oil revenues. This article is a great little victory lap.
MM: Good morning everyone. Iraq has done so much work and we all know Al Sudani was just in New York again at the US assembly. He also had sideline meetings and had his speech and returned home yesterday.
MM I think he has more meetings today ….but his acheivments in 2024 hve been phenominal. Including international interconnectivity. This showcases the fact that Iraq is going international..Al Sudani also talks about $83 billion for the investment side of the budget for infrastructure….which tells me he needs the money released publically. And he needs to tell his people where the money is coming from.
MM: The world is waiting to see the budget…but Item #4782 has not been released yet in the Iraq Gazette…..there is good reason for it. I am optimistic in includes the new REER (Real Effective Exchange Rate)
MM:They already have the new technology for international interconnectivity that we have all heard about that is fast, accurate using blockchain ledger technology. Everybody needs to be on the same page at the same time on this system
MM: When this happens prepare for shocks. .
MZ: What are your thoughts on Sudani’s speech at the UN? He talked about them being fully international.
MM: I think the very last part of that speech he says Iraq is taking its rightful place in the international world. It’s interesting that he said that because a year ago this September he was showcased as being the savior of the international financial system. And again in Davos a few months ago where he had the likes of Jaimie Dimon and JPMorgan and the biggest banks in the world there.
MM: Iraq has all the assets, new technologies like the Ayuscuda system at the borders to collect those non-oil revenues and taxes. I believe there are meetings today with Al Sudani and Al Alaq and the banks. At this stage in the game you have to ask yourselves why? I’m hoping it’s to decide not to use the rate of 1310 anymore…..but something different.
MZ: So how close are we…. iyo?
MM: With Sudani back now….why couldn’t it happen at any time? To me there is no reason it could not happen at any time.
MZ: I agree. He’s done the victory tours, he has told the world they are restored and fully international. …Time to see the fruit of his labors. I wouldn’t be surprised to see my phone blowing up this weekend with the news that it has happened.
MM: I think Sudani is obliged to do this at this point.
MZ: I agree he has done all the groundwork , done all the stuff, paid all their bills….he is kinda obliged to do it.
MM: Basically the non-oil revenues will drive the private sector. Things are playing out….but there is a logic to what we are watching….Central banks have to be prepared for this….and at this point they should be.
MM: Since Sudani and Alaq are meeting today in Iraq with the banking sector I am very optimistic something good will come of this.
MM: I saw an article today “ The head of the Kurdistan party provincial council stressed on Saturday the implementation of Article 140 of the Iraqi constitution. “ This is why my phone was blowing up. This may be why Sudani and everyone are getting together today. With article 140 they need the new value of their assets. I think this is huge.
MZ: That is huge. They need to revalue the assets before the census happens.
Member: I was told as soon as article 140/HCL passes – then we go.
Member: What is article 140
Member: Constitution Article-140 lays down a clear road map to define the final boundaries of the territory to be administered by the KRG.
Member: article 140 us the HCL, hydrocarbon law, which will divide up oil revenues and give to Iraqi people.
Member: With everything happening on oct 1st….maybe Iraq kicks it off with those meetings today.
Member: new SOFR rule going into effect Oct 1st, and FDIC rule on Foreign Currency Swaps Oct 22nd?
Member: And the new US fiscal year starts on oct. 1st.
Member: Mark a buddy of mine that got me into the currencies is part of a humanitarian group. He says they will have access to a portal for exchanges. Have you heard anything about that
Mod: MM THANKS FOR JOINING US! LET'S PRAY THIS GOES
Member: I say they should Turn on EBS and let chips fall where they may!!
Member: 2 moons Sunday night....big things are about to start off
Member: Dreams can become realities... that's why I'm here
Member: Enjoy the weekend everyone…….still hoping for notifications anytime
Mod: SEE YOU ALL LATER>>HAVE A GRAND WEEKEND!!!
Member: Thanks MM, Mark and mods….enjoy the weekend.
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