Tehran to send skilled workforce to Iraq, 9 OCT
Monday, October 9, 2023
"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.
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
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