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: What I have been tracking today is a number of articles and commentary coming out of Iraq. There are meetings between representatives of the CBI and the government.
MZ: And, I am being told these meetings will continue into tomorrow and a major topic in these meetings is the “Exchange Rate” They could be referencing trying to strengthen that 1300 rate down to 1100…..it could be.
MZ: But they are focusing on increasing the strength of the dinar in comparison to the US dollar so they can continue to de-dollarize. By changing purchases to dinar instead of dollars…interesting from Iraq on that front.
MZ: I continue to hear good things from group leaders but no updates on the bond side. Hopefully I will get one by tomorrow.
MZ: I do have an update from the redemption side/wealth management. They are saying they were asked to stay close to home this week….in case they are needed. It may have nothing to do with us and exchanges….but something internal. I don’t know as of yet.
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
An Expert Proposes To Involve Experts In The Draft Oil And Gas Law
Baghdad today – Baghdad Today, Sunday (August 27, 2023), an expert in oil affairs, Hamza Al-Jawahiri, said that there is a need to involve experts in the oil field in preparing the draft oil and gas law, in addition to the participation of the authorities in the governments of Baghdad and Erbil.
Al-Jawahiri told "Baghdad Today" that "the legislation of laws in Iraq is subject to political agreements, which lead to the enactment of any law or not, but the preparation of draft laws must be from the competent authorities and personalities, so that there are no loopholes in the matter." any part of the law.
He explained, "The involvement of experts and specialists in the field of oil in preparing a draft oil and gas law is applicable in many countries and is a health condition, and therefore the competent government agencies in the federal government and the Kurdistan Regional Government can also participate in preparing the draft."
The oil sector in the Kurdistan region entered a "dark tunnel", since oil exports through the Turkish port of Ceyhan were stopped by an international judicial decision from the Paris Court, in addition to the continuing dispute between Iraq and Turkey regarding the mechanism for restoring oil exports through the Turkish port of Ceyhan, in addition to the Baghdad agreement. The new Erbil, which made the Kurdish oil sector not isolated from the control of the federal government in Baghdad.
While the political forces stress the need to legislate the oil and gas law, reliance is being placed on resolving all the problems between Baghdad and Erbil and drawing the form of the relationship and the clear mechanisms for controlling the oil of the Kurdistan region and the specific powers of the regional government and the Baghdad government. It obstructs the enactment of the law and reaching an agreed formula. LINK
While there’s no one-size-fits-all solution tobuilding wealth, lessons could be learned from listening to the advice of self-made millionaires. Some investors swear by real estate, while others are proponents of starting a business to build wealth. Either way, there’s a different journey for everyone looking to reach the millionaire status.
Best Investments These Self-Made Millionaires Made
Various roads could lead to riches, so we spoke with self-made millionaires who shared what investments helped them build momentum when trying to build wealth. Check it out.
Investing in Business Coaching
“One of the best investments I’ve ever made was also among the most intimidating due to the significant amount involved and my unfamiliarity with the venture,” remarked Jeff Rose, CFP and founder of Good Financial Cents. “I invested approximately $8,000 in a business coaching program. Despite my initial skepticism about the concept of coaching, I trusted the recommendations from others.”
While you could turn the money from your 9-5 into real wealth, you can fast-track the process by starting a business that produces real income. In this case, Rose spent the money on taking his blogging business to the next level by learning from those who did it before him.
Investing in business growth is daunting because so many unknown variables are at play. When asked about how long it took him to see any return on his investment in the business coaching program, Ross replied, “It took more than a year to see a return on this investment. However, after investing over $24,000 in the program over three years, my annual revenue nearly tripled, netting me over $500,000.”
We also spoke to Gabby Wallace, a business coach with over two million YouTube subscribers and a real estate investor, about becoming a self-made millionaire. She echoed a similar sentiment when it comes to investing in business coaching.
“Time invested in observing and learning with people I consider successful because their experience and examples as role models is better than any business class,” she said, praising her first business mastermind for helping her take her ventures to the next level. She felt she had what it took to grow her business, but she just needed to be around the right people to stay focused.
Real Estate Investment
“Money invested in the right real estate because it’s given me the freedom to make choices based on what I want to do, not just what I need to do,” Wallace further elaborated when sharing tips on her best investments.
She realized that she could purchase real estate in the Midwest that would allow her to build passive income while she focused on her other business ventures. By funneling her business profits into real estate projects, she accelerated the process of building wealth.
Simple Index Funds
While social media can be filled with ridiculous success stories of people who took risks on meme coins and other investments, the truth is that many self-made millionaires rely on safe investments to grow their funds. Michelle Schroeder-Gardner from Making Sense of Cents shared how investing her business income in simple index funds has helped her grow her net worth while focusing her energy on her business ventures.
“One of the smartest investment decisions I’ve made over the years was choosing to invest in easy Vanguard funds (such as VTSAX). The simplicity of Vanguard funds aligns perfectly with my financial philosophy of setting it and forgetting it (instead of spending a lot of time analyzing stocks).
These funds have given me easy diversification, and they also have low fees.”
Even though we tend to glorify risky and bold investments, there’s something to be said for simple investments that allow you to focus your energy on building wealth with your business. “This allows me to spend more time growing my business while my portfolio grows in the background.”
Investments Worth Making
If you’re wondering how to invest your money to get to the next level of wealth, here are a few options worth considering based on advice from self-made millionaires.
Making Connections
Many self-made millionaires will point to their professional networks when discussing what has helped them get to where they are. Wallace shared that she spent $5,000 on a mastermind to learn more about growing a business as she grew her YouTube channel. Rose spent $8,000 per year as part of his growth. These are significant investments that were made to get to the next level.
Making connections will be different for everyone, but attending conferences, joining a professional network, and emulating those who are where you want to be will always be a valuable investment.
Education
You could feel stuck at your current level because you haven’t yet acquired the knowledge to upgrade your income. So what kind of education can you invest in? Here are a few options:
Reading a book on a new topic
Taking a weekend course to learn something new
Joining a mastermind in an industry you’re new to
Earning a certification to add to your expertise
Upgrading your current skills so you can finally start that business
Investments You Understand
While it’s tempting to risk all of your money on crypto or some speculative asset because you saw a viral social media post, it’s important to remember that boring works. Sometimes, you’re better off investing your money in simple index funds while focusing on growing your business.
Closing Thoughts
Becoming a self-made millionaire isn’t out of the realm of possibility. The good news is that the blueprint is out there, and you could learn from others who came ahead of you.
If you start channeling your energy on building wealth and making the right connections, you can put yourself in a position to one day become a self-made millionaire.
Al-Alaq stresses the need to increase capital and support the Central Bank to continue the initiatives
2023-08-27
Al-Alaq stresses the need to increase capital and support the Central Bank to continue the initiativesToday, Sunday, the Parliamentary Finance Committee announced its discussion with the Governor of the Central Bank, Ali Al-Alaq, the bank’s initiative to grant citizens with loans to solve the housing crisis, while Al-Alaq stressed the need to increase capital and support the Central Bank to continue with the initiatives.
The media department of the House of Representatives said in a statement, “The Finance Committee, headed by Atwan Al-Atwani, hosted today, the Governor of the Central Bank, Ali Al-Alaq, to discuss the Central Bank’s initiative to grant citizens loans to solve the housing crisis.”
The head of the committee welcomed the governor of the Central Bank, praising “the role he plays in the bank in financing loans related to resolving the housing crisis in the country, with the aim of facilitating the investment sector, economic movement and employment.”
He added, “The suspension of the initiative affects the economic aspect and job opportunities, with the increasing need for housing units, which requires a feasibility study to reach an appropriate formula that meets the citizen’s needs.”
For his part, Al-Alaq stressed “the importance of communication between the Finance Committee and the Central Bank at all levels of concern to citizens,” explaining “the reasons that led to the suspension of the initiative that led to the contraction of the economic situation.”
He stated that “sums of money have been allocated to the Real Estate Bank and the Housing Fund in order to achieve economic activity and launch the initiative,” pointing out that “the bank deals with the file with an in-depth study in order to control the monetary mass in accordance with the financial policy.”
He stressed, “the need to increase the capital and support the Central Bank to continue the initiatives.”
The interventions of the committee members focused on the procedures of the Central Bank and the possibility of increasing the amounts granted, with the expansion of initiatives, as well as the new instructions issued regarding interest and the payment period, and stressing the intensification of meetings in order to study the mechanisms used and issue appropriate instructions to banks in implementing the initiative.
On the other hand, the issue of the exchange rate of the dinar against the dollar and the reasons for the high prices were discussed, as well as the procedures regarding the tax on products imported through the ports.
