The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...
This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991
Iraq technically does not need to amend the budget if they're not changing their rate.
The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...
Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy
3/21/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate.
Saleh told {Al-Furat News} agency, “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects: monetary, financial, and commercial, in providing a coherent climate of stability in the general level of prices.” And containing seasonal price fluctuations for high-demand items, specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.”
He noted "the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in supporting price stability and ensuring the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy."
The Parliamentary Finance Committee had expected a continued decline in dollar prices as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.
The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar.
If they're going to do a re-denomination and a reevaluation at the same time then I guarantee the notes they're going to use are going to be the lower denominations. So instead of getting $3 per dinar for a 25000 note, you're going to get $3 per dinar for a 25 dinar note. You can jump up and down and have a fit all you want. I've been telling you guys this is what's going to happen [If they re-denominate].
This is great for the Iraqi people...They'll be happy about the change in their wealth but the western people will not even have a taste of it...I keep warning you guys about this..
The official exchange rate, that's the one we want to change but surely wouldn't want it to change with new re-denominated currency with the deletion of the zeros. I want a nice fat $3.00 to 1 Iraqi dinar exchange rate with the currency we have now.
The President of Vietnam resigns after a year in office
Vietnam's President, Vo Van Thiong, has resigned after serving nearly a year in office, according to a statement issued Wednesday by the Communist Party.
The Philippine president's resignation came in the midst of an intense anti-corruption campaign that affected the highest levels of the party.
The Vietnam News Agency said Thiong was guilty of "violations and shortcomings" and the party's Central Committee accepted his resignation.
The news agency added that Thiong violated unspecified “regulations” and “failed to set an example as head of state.”
She revealed that "Comrade Vo Van Thiong's violations and negligence had a bad impact on public opinion, affecting the reputation of the party and the state and his reputation."
She continued, "Aware of his responsibility towards the party, the state, and the people, he submitted his resignation from his positions."
The 53-year-old official's resignation comes as Vietnam is witnessing major political unrest, which also forced his predecessor to step down in an anti-corruption campaign that saw the dismissal of many ministers and the prosecution of major businessmen on charges of "fraud."
Thiong became president on March 2 last year after President Nguyen Xuan Phuc resigned, in an unusual surprise move in Vietnam, where political changes have long been carefully coordinated, with an emphasis on stability.
Before Fuc, only one other Communist Party leader had stepped down, and that was for health reasons
The position of president in Vietnam is largely ceremonial. The president ranks third in the country's political hierarchy.
While the president leads the country, he views the party's Secretary-General, Nguyen Phu Trong, as the real power holder link
Community Comment: "If the current rate is 1320 to 1 and you remove the three zeros wouldn't the new rate be $1.32 to 1?"
Frank26:
No...Stop putting a decimal in the 1320...You must understand this relationship as 132 dinars equals $1.00 which is a rate of $0.76. If you have 1 million dinar 760 American dollars. If you have 1 million dinar and they take it to 1 to 1 you have $1 million.
Question " Are the Saddam dinars worthless?" Yeah, they're worthless because they're no longer recognized by anybody.
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
Evening News with MarkZ and Dr. Scott Young. 03/21/2024
Member: As Wimpy from Popeye would say. I would gladly pay you Tuesday for a hamburger (RV) today
Member: Mark, Let’s get this thing done this weekend!
MZ: That would be nice. There are some interesting people doing some traveling –that’s for certain. Maybe it could be this weekend. There are some interesting whales being pushed, pulled and moved suddenly
MZ: I cannot tell you which ones and where-for security reasons…But it is exciting. I am not the only person hearing this.
MZ: We did have a key signatory in Reno over the weekend. I got a verification on that today. .
Member: Wells Fargo branch in burbs of Milwaukee - more busy than usual. Was greeted by DIST Mgr who was very respectful & gave me bus card for Premium Private Banker (wasn’t in today). Told to call Mon!!!
Member: Thank you, Mark and Dr. Young. Thank you, Mods! Have a great evening Everyone!
Dr. Scott joins the stream today. Please listen to the full replay for all his information and opinions.
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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
Member: Good Morning Mark and everyone…Is there any RV news today?
MZ: Still quiet on the bond front and the dinar front. No fresh news on CMKX
MZ: We had been expecting news on bond meetings yesterday….but have gotten no reports on them. The banking side is doing a good job on keeping things quiet.
MZ: “Zimbabwe lets currency free-fall while it weighs Gold Standard” This makes sense. Don’t try to prop it up. Let the fiat system take the shot to the chin then put into place your new Gold Standard!!
MZ: Zimbabwe plans to launch a structured currency with a Gold Standard. They are not even trying to save the fiat – just let it go the way it does…by returning to zero. Then put in the asset backed currency….. this does not reflect on our Zim bonds.
Member: it further confirms the worlds move away from the petro dollar into their own backed currency
Member: That tells me the reset is coming very soon!
MZ: Gold Telegraph has posted “Russia has introduced digital assets as a payment for International settlements” In other words they have ut together a system that is independent of the US banking system …independent of SWIFT. They no longer need it. This is also one that will very easily work with the new QFS system as they can digitally talk to each other….Follow the fundamentals guys.
Member: Wish we all could join with the new BRICS system.
Member: Wish we knew for sure if the QFS is a mythological fable- or real!!!
MZ: “ Evergrande “Ponzi Scheme” likely sparks major property market restructure” Chinese economy in hong Kong faces a dilemma over developers $78 Billion dollar fraud. This is causing a run for money and a restructuring. 40-50% of the entire Chinese economy is on the ropes. They have rough times ahead.
Member: The whole world needs this reset…….Whoever is in charge…please let it go!
Member: I have a bank story from this morning. went to Bank of America this morning to cash a check. Bank was all new with cubicles. I asked the manager if They exchange currency and he said yes
Member: Frank 26 has changed his stance on the dinar. Now he says it's not going to float but will come out at a fixed rate. $3.32 to maybe $5 something
MZ” That is what I have been hearing for some time now. I was told to expect between $3.33 to $4.81. Somewhere in that range.
Member: I think they have to come out at the rate they removed it. $3.24?
MZ: Yes it was right around $3.22-$3.30 or so.
Member: I saw one tic toc post about NESARA supposedly being announced sometime around April 1st. Guess we will see!!
Member: Lots of Rumors about April 1st. It’s the start of the second quarter….Easter is March 31st where the St. Germaine trust is supposed to open….
Member: Also we have a BLOOD Moon on the 25th …and its Purim…Think of the days of Esther.
Member: 3-24 is the anniversary of the Kuwait RV….Would be a good time to let it go.
MZ: Yes it would …that would put it on Sunday which is a good day to do it. Mr. Mayhew always told us we would go to sleep on a Saturday Night and wake up to a whole new world the next day.
Member: In Iraq our Sunday is their Monday or first business day of the week,
Member: Keep positive thoughts….Our future is so bright- we are going to need shades!
Member: Everyone enjoy your day.
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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.
"We are thrilled to share the news that Dusk has entered into an official agreement with NPEX, marking the launch of Europe’s first blockchain-powered security exchange to issue, trade, and tokenize regulated financial instruments. Such a unique commercial partnership between a regulated financial entity and distributed ledger technology (DLT) is a significant achievement for both Dusk and the broader cryptocurrency sector. It establishes a foundational step towards achieving our goal of making real-world assets accessible on-chain for everyone."
Here comes real world assets onto a blockchain utilizing Decentralized Ledger Technology regulated and secured through a partnership between Dusk and NPEX. It is a movement beyond Bitcoin ETF to Traditional ETFs. < /span>
It is an exchange where stockbrokers and traders can buy and sell securities, such as stocks, bonds and other financial instruments.
This new blockchain is regulated and designed to move tokenized assets across all sectors of the market inside the new digital asset-based trading system.
The closer it gets to the reinstatement the more they will tell the citizens concerning the monetary steps...There's nothing like facts being told to the citizens with confidence.
Sudani is starting the monetary reform education by using the official rate, which is 1320. He's using 1320 in explaining the possible rate...1.32 to 1 American dollar. IMO the reinstatement could take that International rate further
WTO means currency restriction free, therefore all members can use multiple foreign currencies to buy, sell and trade but Iraq has decided...all...contracts that have been recently signed with Sudani must be converted into Iraqi dinars.
A Specialist Points Out The Reasons For The Noticeable Decline Of The Dollar In Iraq: It Will Reach The Official Price
Economy |Today, Baghdad today - Baghdad Today, Wednesday (March 20, 2024), the expert in financial and economic affairs, Ahmed Al-Tamimi, explained the reasons for the decline in the dollar exchange rate in the parallel market.
The past few days have witnessed a noticeable decline in the exchange rate of the dollar against the Iraqi dinar in the parallel market, reaching at times 149 thousand dinars for every 100 dollars.
Al-Tamimi told “Baghdad Today” that “the continuous decline in the dollar exchange rate in the parallel market confirms the government’s success in the dollar issue, controlling the crisis and preventing its aggravation,” expecting “this decline to continue gradually over the coming days, until it reaches the official price.”
He explains that “the measures and decisions by the government and the Central Bank have contributed greatly to limiting the rise of the dollar and controlling the market, especially with regard to cleaning up foreign remittances, as well as finding ways to finance foreign imports in currencies other than the US dollar, and other measures that the government has proven successful in this file.” .
On (March 14, 2024), the Governor of the Central Bank, Ali Al-Alaq, announced an understanding with the US Treasury to reconsider the sanctions imposed on Iraqi banks .
Al-Alaq said in a press statement, after being hosted by the Parliamentary Finance Committee, and followed by “Baghdad Today”, that “the process of printing the local currency takes place according to the required financial cover . ”
He pointed out that "the instability of the exchange rate is due to the presence of illegal trade carried out by small traders and some speculators . "
During the past months, the United States has prevented dozens of Iraqi banks from conducting transactions in dollars as part of a comprehensive campaign against transferring the American currency to Iran and other countries subject to sanctions in the Middle East .
The US Treasury - in cooperation with the Central Bank of Iraq - imposed stricter controls on financial transfers in the country in general .
As a result, the value of the Iraqi dinar declined against the dollar and the prices of imported goods rose. However, the Iraqi government took a number of measures to limit this rise and control the parallel market by striking currency smugglers at times, prosecuting speculators, and searching for an alternative to the dollar in commercial transactions at other times, which contributed significantly to the recovery. The Iraqi dinar again against the US dollar. LINK
There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.
However, there is a catch.
If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.
This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"... What happens if you don't report more than 10 thousand dollars in cash?Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.
Parliament Finance: The Central Bank will move to support banks through this mechanism
3/20/2024 Baghdad
Today, Wednesday, the Parliamentary Finance Committee revealed the Central Bank’s intention to support banks through loans, while indicating that the Ministry of Labor has opened the platform for applying for small project loans.
The representative of the committee, Mustafa Al-Karawi, said in an interview followed by Al-Iqtisad News: “The committee, during its hosting of the governor of the Central Bank, called for support for banks, especially in the issue of loans,” noting that “the governor of the central bank promised the committee to launch loans, especially the Real Estate Bank, to support the construction movement.”
He added, "Loans for small projects will be through the Ministry of Labor, which in turn has opened a platform to provide unregistered people who have not benefited from previous loans in order to support projects, with the value of the loan reaching 50 million dinars." LINK
For over 15 years, Bitcoin has been a highly speculative digital asset. A speculative asset moves primarily with the emotions of the people who decide to buy assets such as these inside a non traditional banking system.
Bitcoin and other cryptocurrencies are currently being regulated, and they are being incorporated into the new digital market system.
This is a movement from speculation to utility case scenarios. Utility case assets such as electricity, gas, and other use case scenarios supports an economies' infrastructure.
This gives validity and purpose to virtual currencies creating solid opportunities inside a supply and demand market. For these reasons, cryptocurrencies are essentially an idea whose time has come.
The Iraqi Head of the state, Mohammed Shia Al-Sudani, affirmed on Monday that Iraq invites the cooperation of German organizations in Iraq’s improvement drives.
Al-Sudani’s assertion occurred during his gathering with Germany’s Clergyman of State at the Government Unfamiliar Office, Tobias Lindner, and his going with designation, as indicated by a proclamation delivered by the State head’s Office (PMO).
The Iraqi Head of the state expressed that the public authority is as yet attempting to further develop the venture environment and draw in unfamiliar capacities, especially considering the Advancement Street task’s presentation and the open doors it offers.
Al-Sudani discussed the dependability accomplished in Iraq and the rising abilities of the Iraqi security powers. He likewise affirmed that endeavors to pull out the global alliance and change to reciprocal relations with its part states have been continuing, especially considering the loss of ISIS psychological oppressors.
Moreover, Iraq’s State leader examined the ongoing circumstance in the Gaza Strip, Iraq’s endeavors to convey helpful guide to the Palestinians, and endeavors made to accomplish a truce and forestall the development of the contention.
Al-Sudani likewise approached the worldwide local area to bear liability regarding stopping the continuous conflict and attack that the Palestinian public are exposed to.
Lindner recognized the advancement, financial development, and solidness accomplished in Iraq, focusing on that the German government will continue with the joint activity plan that Al-Sudani settled upon with the German Chancellor during his new visit to Berlin.
The German priest communicated his nation’s help for the Iraqi government’s moves toward end the presence of the global alliance in Iraq, communicating Germany’s status to consent to a reciprocal collaboration arrangement with Iraq in the security and military fields.
While this may be a little longer than most updates and while I cannot respond to anymore than I post I will open the room afterwards for any additional confirmations any of you folks may have heard or to at least share your thoughts or concerns.
The banker called this morning to advise several high level CC had been scheduled today to which he was demanded to attend each one.
A total of 6 calls took place. While he is unable to share any of the details he was able to determine those pulling the strings are very serious of exactly where they are and what must be done to ensure compliance to execute the currency revaluations.
All being shared allows me to surmise they want this project of exchanging to be completed by months end even if all exchanges are not fully completed into early April.
There it is sports fans, Not that many days remain in March.
Okie Oilman also shared some very impressive intel with me earlier which confirms what the banker shared so he is still very much involved in getting us to our final destination, please keep him in your prayers that he can join us on the cruise.
The United States intends to refill the strategic oil reserve, 21 MARCH
The US Secretary of Energy, Jennifer Granholm, declared today, Monday, the US’s expectation to top off its essential oil hold toward the finish of 2024, after the stock tumbled to its most minimal authentic levels the year before.
Following the Russian-Ukrainian conflict, US President Joe Biden reported an uncommon withdrawal from oil holds in a move condemned by conservatives.
Between September 2021 and July 2023, the US consumed around 274 million barrels of save, making it tumble to its most reduced level in 40 years.
Washington laid out the hold during the 1970s as a crisis save after the 1973 energy emergency.
In June 2023, the US government started repurchasing oil to support holds. In the accompanying nine months, the essential oil hold was expanded by around 14.7 million barrels, as per the US Energy Data Organization.
Granholm uncovered that the hold level has been upgraded by around 30 million barrels since the previous summer, crediting this to different exchanges, including the recuperation of amounts of raw petroleum that were lent to significant industrialists.
“Before the current year’s over, we will essentially be back where we were,” she said at the Sierra Energy Week meeting in Houston.
The stock will be supported by one more 140 million barrels of oil that was initially expected to be sold somewhere in the range of 2023 and 2027 subsequent to dropping deals set by Congress.
Oil costs have remained somewhat stable since the previous fall subsequent to ascending directly following the Russian-Ukrainian conflict.
Makers in the OPEC+ collusion said recently that they would expand the creation cut by 2.2 million barrels each day in the second quarter to help costs.
Granholm accentuated that the Biden organization’s record shows that “while we can keep up with energy security, we can likewise answer mindfully to the truth of market changes.”