Weekend Coffee and News with MarkZ and MilitiaMan. 11/09/2024
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
MZ: We start today with Matt and Lucas, at the 45-minute mark we will be joined by MM and crew to talk about the latest news out of Iraq.
Member: Happy 3 day weekend…..and Thanks to all the veterans for their service
Member: Morning folks! Anyone hear anything good?
Member: Good morning Militia man and crew
MZ: The articles coming out of Iraq are amazing this week.
MM: Little bits and pieces and things are happening fast and furious. There is a lot of people talking lately. Sudani, Alaq, many experts talking about digital currency, economy, money, energy, technology……
MZ: Foreign relations, and Sudani reaching out to Trump- and he is saying they want to meet ASAP- in person….
MM: I love it when they talk money. Sudani has been here for 2 years and obviously he has done a good job. The united States has been involved in Iraq for many years and many different administrations. Al-Sudani was in New York just a few months ago and we saw progress….we know Iraq is focusing on doing business ….The time is right for opening the development road project and Sudani has a budget he needs to open up and start spending….They have some time constraints
MM: The port of Faw opened up. And we are talking about the relationship between Iraq and the US. Things look positive.
MZ: One of the things I was eying: “ Association of Private Banks Financial inclusion rate increased to 48% “ So 48% of the people have embraced banking instead of holding cash under a mattress-which is not the most efficient way to handle finances.
MM: No its not. I think 48% is a big number. And they have 50,000+ Point of Sale (POS) machines across the country. They have 20 million accounts for electronic cards. We know they have put out 40 million new national cards. If they have a Real Effective Exchange Rate (REER) and build a road- people will come.
MM: With that development road – people and trade will come in droves.
MZ: And the Central banks through auctions have just sold a billion in USD and took in dinar to buy it.
MM: The push is big….Last night I did a video and this article was interesting to me “ In 5 days Iraq Central Bank sells more than a billion dollars” and they say there is now no room for the parallel market or black market for dollars. This is huge from Al ALaq. Once they open the doors and change the REER then the dinar will then be stronger than the dollar. That is what Al-Sudani has said more than once. And that is what we are waiting for.
Member: Looks quite promising for Iraq
Member: Really hope we get a rate soon.
Member: IMO-if the money supply vs. foreign reserves is an indicator, they're currency should be at a much higher exchange rate than 3.22
MZ: “ MP (Member of Parliament) Likely to resolve 3 major laws this week. “ Are they hiding HCL in here??? They have extended the legislation until Dec. 10th which is Victory Day.
MM: They are talking about it today. Real Estate in Kirkuk is part of article 140 of the HCL. These laws are really important and they have already been read twice and they could be working on it right now and we wouldn’t know yet. It will be big news once it pops. I believe it is on the table and could happen at anytime during this session.
Member: They can’t broadcast their accomplishments or they would give away the timing…imo
MZ: And they generally don’t broadcast an accomplishment until its done.
MM: They do like to keep things tight. And try to lead us astray on many occasions. They do not broadcast every move they make because some of this is very sensitive. But its exciting to see them at this stage now.
MZ: Where do you feel like we are at?
MM: They have some things to take care of still. But I think we are watching to see the outcomes of these sessions of Parliament. They have to open up and expose the budget, and a lot of the things right now on the table are exchange rate oriented. They need the money for that Development Road project and I think we are knocking on the door .They are telling us these things are happening along with the delete the zeros project.
Member: I heard a seller say there was no more dinar to be had?
MZ: I know some sellers and they say it’s harder to get dinar to sell right now. I had one seller tell me that probably 90% of the dinar they are selling right now is dinar they bought back from people who have given up. So much of the dinar they are selling right now is recycled.
MM: I have heard that too.
MZ: If they are going to end the Auctions in 2024 like Alaq and Sudani have said….then something has to change
MM: They have it set up and I think they will turn that corner quickly.Everybody is waiting for this to happen. The pressure is on . Iraq has a holiday tomorrow and this weekend is Veterans day for the US. Lets see what happens tomorrow.
Be sure to listen to the replay for MilitiaMans full interview….
Member: does the Dinar has to revalue pretty much now, so everything can be done by Dec 10th?
Member: 10th December is victory day in iraq
Member: So, after they revalue, how long will we have to exchange our say 50K dinar note for $
Member: probably 10 days to make your appointment and 30 to exchange/redeem.
Member: Iraq citizens were given 90 days to replace Saddam currency back in Oct. of 2003
Member: Yea Militia Man! Thank You for all you and the Crew do!!
Member: It's a beautiful day, hope everyone can enjoy it!!!!
Member: Bye-bye to all of you fantastic and blessed people of God and see you all Monday morning.
Zester also joins the stream at the end. Please listen to the replay for his opinions and information.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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