"RV UPDATE" BY MARKZ, 9 OCT

 MarkZ  

 Article:  “Iraq Central bank warns Iraqi banks refusing USD withdrawals”  

...Iraq has to be positively livid with the US government right now…don't let it throw you though...my Iraqi sources believe we are on the fast track…and this situation with Israel and Hamas will not cause more than a slight speed bump in the RV. I hope they are accurate.

 Very quiet overnight on the RV side…..

but, great expectations for this weekend or the first part of this week. My redemption center folks are on call this weekend. They are not at work…they are “on call”...

Last week I told you all that I know a number of bankers...put on “stand by” for imminent currency value changes. I thought this was huge news. My bank crew is sure ramped up and expecting something big this week. 

…no update yet...from redemption center folks...as to whether they expect to work this weekend. 

I have been hitting a brick wall…their phones seem to be turned off…. I don’t know if that is a great thing or a coincidence. Yesterday a number of them told me they are on “stand by” specifically for currency exchanges. I think this is huge.   Let’s see if something comes of it.

Middle East stock markets react to escalating Palestinian-Israeli conflict, 9 oct

 Middle East stock markets react to escalating Palestinian-Israeli conflict, 9 oct

Shafaq News/ Gulf stock markets experienced sharp declines on Monday amid growing concerns of a broader conflict in the Middle East following intensified clashes between Palestinian Hamas militants and Israel.

In Dubai, the benchmark index plummeted by 2.6 percent, marking the most significant drop since June of the previous year. Emaar Properties shares fell by 4.4 percent, and shares of Emaar Development Company experienced a five percent decline. Emirates NBD Bank shares dropped by 1.9 percent, and Dubai Islamic Bank faced a 3.3 percent decrease.

Abu Dhabi saw its benchmark index decline for the fourth consecutive session, closing 1.3 percent at its lowest since May. ADNOC Distribution lost 3.8 percent, and ADNOC Logistics and Distribution faced a 1.9 percent decrease. First Abu Dhabi Bank shares fell by 1.2 percent, and Abu Dhabi Islamic Bank shares dipped by 2 percent.

The Qatari index also experienced its fourth consecutive decline, closing down 1.7 percent. All stocks declined, with Qatar National Bank falling by 2.6 percent and Qatar Islamic Bank experiencing a 1.7 percent decrease.

In Saudi Arabia, the market showed a minor recovery from the previous session's losses, closing 0.2 percent lower after a significant 1.6 percent drop in the last session – the largest decline in ten months. The National Bank of Saudi Arabia fell by 2.2 percent, and shares of the Saudi Basic Industries Corporation (SABIC) faced a 1.8 percent decrease. Etihad Atheeb Telecom Company shares rose by 1.5 percent, and shares of Al Rajhi Bank, the world's largest Islamic bank in assets, increased by 1.2 percent.

The leading stock index in Egypt recovered slightly from the previous session's losses, rising by 0.3 percent. The finance and communications sectors supported the gains, with Commercial International Bank experiencing a 1.7 percent rise and Telecom Egypt shares increasing by 2.2 percent.

https://shafaq.com/en/Economy/Middle-East-stock-markets-react-to-escalating-Palestinian-Israeli-conflict

Coffee with MarkZ and joined by Field. 10/09/2023

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

Coffee with MarkZ and joined by Field McConnell. 10/09/2023

MZ:  Good Morning and yes, I am still in the US…..gotta love the airline system .

Member: Will I be able to give my two weeks notice soon Mark?

MZ: I think you will be able to notice this week…..we shall see. 

Member: I truly hope this new unrest in the middle east is not another delay tactic to stop the RV

Member: Mark, or anyone. remember Footforward, used to post on dinar recaps. al ooooong time ago her predicted this wouldn’t go till Israel attacked Iran

MZ: I don’t remember that but, if so, it’s probably this week. 

Member: for years, they have said Israel was last to clean up. I’m trying to be optimistic about this. Hopefully, credits come soon on this movie.

Member:  Kim Clement always prophecied that “RV” would happen when things seem at their worse... seems like it’s pretty bad lately!!

Member:  Looks like we got THE black swan event

Member:  It'd be a good time to go whilst the world is distracted.

MZ: Bond rumors are great…I have a number of contacts expecting announcements today and what they can expect and when on the “When they will have dollars front”…..nothing yet though on the specifics. A number are expecting updates after lunch today. 

Member:  our bond friends have been contacted to get ready- 2 days ago

Member: MM vid last night tells us it's going to happen sooner than later folks. Iraq needs this to happen and happen fast if they want to be international.

Member:  Is the billion dollars that Iraq asked the treasury for to pay their bills, Iraqs money that the US is holding? If it's Iraq's money why does the US still have it?

Member:  MM did an awesome update last nite. Explained the US Halt of the US $ to Iraq. 

MZ: “ Iraq Central bank warns Iraqi banks refusing USD withdrawals”  In other words if they want USD- let them have it so it does not cause runs on the banks. Part of that one billion belongs to Iraq that the US is holding. Iraq has to be positively livid  with the US government right now….

MZ: in lockstep- my Iraqi sources believe we are on the fast track …and this situation with Israel and Hamas will not cause more than a slight speed bump in the RV . I hope they are accurate. 

MZ: “Global oil prices soar after Hamas attack on Israel”  Oil prices after hitting a slump start to spike. It would make it easier for Iraq to revalue with higher oil prices. 

MZ: “Bank crash 2.0 incoming? I think banks are going down for 2-3 weeks”  Interesting article and It does look like we may have more bank collapses this week. Starting in the UK and possibly moving into the US. 

MZ: “Hong Kong halts morning trade? Looks to lower storm warning to midday”  So far it is still tanking

MZ: “ Why Britain is on the verge of a cataclysmic financial crisis”  Parallels emerge between 1987 stock market crash and 2023 bonds sell off. 

MZ: We are watching it unfold right in front of us. 

MZ: Forbes: “US dollar collapse –Shock: $8 Trillion predicted Fed inflation flip to spark a critical Bitcoin, Ethereum, XRP, and crypto price boom to rival gold”  Some oof the biggest holders of bitcoin is the US government. 

Member: My bank closed Since Friday til tomorrow for TRANSITION

Member: Guess your gut stopped screaming Mark?

MZ: No- my gut is still screaming “What the heck?” right now as they are throwing curves but we did expect this…… US dollar collapse, Britain is on the verge of a cataclysmic financial crisis, Hong Kong halted morning trading…and Banking crash 2.0 happening….watch the fundamentals which say we have to reset….and we have to reset NOW. To me this is all a massive smoke screen or maybe a cover. 

Member: It has been said - it will happen in the middle of a total mess - so what we have now – fits

Member: Hard to discern the difference between Reality & This stupid Movie. So ready to be done with all this … stuff!

MZ: There is a great chance that this video will not be on youtube past the end of the day today…After talking with Field…I may have to remove it for safety…..

Member: Mark, thanks as always for all the latest news & updates

Field McConnell joins the stream about minute 20 today. Please listen to the replay for his opinions. 

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY.

Replacing the dinar with the dollar. 8 OCT

 Replacing the dinar with the dollar

 Finally, the Central Bank of Iraq announced in a statement last week that “the coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers.”

Financing foreign trade will be directly for merchants dealing in remittances outside the electronic platform, through licensed banks that will deal with correspondent banks in foreign transfer operations and in the local currency of the country from which the merchant wants to import.

 Then the dollar auction will be gradually dispensed with and the central bank will intervene to control the exchange rate through a shift in its tools.

Cash, which will be more effective in achieving monetary stability, due to the expected decline of the so-called black market and the emergence of a real parallel market that will effectively contribute to financing the total demand for foreign currencies after the local currencies of the trading countries are traded within the parallel market following the opening of transfer channels for those currencies in a way Official. 

Thus, we will witness a new phase in which exchange rates will be more stable than the phases witnessed in previous years if dollar smuggling operations are controlled, which is expected to decline automatically with the decline of the dollar supply on the black market.

At that time, the country will witness the real beginning of an attractive investment environment, as the confusion in the dollar exchange rate was often an element that repelled investors due to their inability to delve into the area of expectations in which the exchange rate was fluctuating, which makes financial feasibility studies more difficult in calculating construction and operating costs and recovery periods. Total costs and profit calculations. This is in addition to other repulsive factors, which were the confusion of the security situation, the incompleteness of legislation related to the investment environment and the regulation of market relations, the failure to activate the package of economic laws that had been legislated, and the spread of corruption and bureaucracy. 

However, there is a problem linking the exchange rate and the costs of production in neighboring countries compared to the costs of production inside Iraq.

The lower the exchange rates of neighboring countries’ currencies are against other currencies, such as in Turkey, Iran, and Syria, compared to the exchange rate of the Iraqi dinar, the lower the cost of producing goods in those countries.

The cost of production is comparable to that in Iraq, which makes the investment environment unattractive at the level of production of traditional goods produced in neighboring countries unless borders are controlled to protect the local product in addition to protecting exchange rates from currency smuggling. link

CBI Active on RV/RI💣New VND & IQD Rates Revealed!🤔Iraq Dinar RV Updates ...

"RV UPDATE" BY MNT GOAT, 9 OCT

 Mnt Goat   

I was...told [by my CBI contact in Iraq] the real reason why the GOI, under prime minister al-Sudani has not directed full funding distribution for all the projects listed in the budget. 

It was for multiple reasons: 1. to first continue to clean up more of the corruption in the provinces; 2. hold back the dollars in the reserves as long as possible needed to back any reinstatement process and global rating for the dinar.

I was...told [by my CBI contact in Iraq] not to over-speculate on the RV and the CBI has a plan and is actively working on it.

 The CBI can not put the cart before the horse and needs the support of the GOI for all the monetary reform.

 They feel that Al-Sudani is definitely onboard with the details of this effort and “fully” supports the plan and what the CBI is doing in this regards. They also told me the re-education news (program) is about to come out.  Stay tuned….

 I asked [my CBI contact in Iraq] about the project to delete the zeros and was told it is coming and is now an active project no longer just a later project.

 I asked for some target dates and was given that they planned to redenominate sometime prior to the end of the year. To me this is so inline what we are thinking for a January 2024 reinstatement timeframe and other events also lining up.

MENA Climate Week: Energy Ministers Advocate for Responsible Transition to Sustainable Energy, 9 OCT

 MENA Climate Week: Energy Ministers Advocate for Responsible Transition to Sustainable Energy, 9 OCT

Key Discussions at MENA Climate Week

The MENA Climate Week 2023, set to take place from 8-12 October in Riyadh, Saudi Arabia, has drawn attention for its unique perspective on the role of fossil fuels in the fight against climate change. Ministers of energy from Iraq, Saudi Arabia, and the United Arab Emirates have congregated at the event, arguing that the fossil fuel industry can play a crucial role in facilitating a smooth transition to sustainable energy. They emphasized that discussions about climate change should not hastily condemn oil and gas but instead focus on these resources’ potential to support a responsible transition towards sustainability.

The Iraqi Oil Minister highlighted the continued global demand for fossil fuels and underscored the importance of natural gas in generating electricity. This stance echoes the sentiment of major hydrocarbon producers who, while acknowledging the need for a global shift towards sustainable energy, also recognize the practical challenges posed by an abrupt departure from fossil fuels.

Historical Context and Current Trends

This argument is not entirely new, but its prominence at such a high-profile gathering marks an important shift in the discourse around climate change and renewable energy. Historically, the fossil fuel industry has often been viewed as the villain in conversations about climate change. However, the discussions at the MENA Climate Week suggest a growing recognition of the industry’s potential role in aiding the transition to renewable energy.

The argument hinges on the fact that, despite the urgent need to reduce carbon emissions, the global demand for energy continues to rise. Therefore, a sudden withdrawal from fossil fuels could lead to energy shortages and economic instability. This viewpoint advocates for a balanced approach, gradually integrating renewable energy into the existing infrastructure and using natural gas, the cleanest of the fossil fuels, as a bridge between coal and renewable energy.

Future Ramifications

The discussions at the MENA Climate Week could have significant implications for the future of energy policy. If this perspective gains traction, it could lead to greater investment in technologies that reduce the environmental impact of fossil fuels, such as carbon capture and storage. It could also result in increased attention to the development of natural gas infrastructure, particularly in regions that are heavily reliant on coal.

However, critics argue that the time and resources spent on these initiatives would be better invested in accelerating the development and deployment of renewable energy technologies. They warn that an over-reliance on natural gas could divert attention from renewable energy and result in the continued emission of greenhouse gases.

Neutral Reporting and Stakeholder Impact

As neutral observers, it is crucial to report these discussions without bias, presenting the arguments of all stakeholders accurately. The debates at the MENA Climate Week represent a significant development in the discourse around climate change and renewable energy, and their outcome could have far-reaching consequences for energy producers and consumers alike.