Evening News with MarkZ 10/11/2023

Zimbabwe Introduces New Digital Currency, 11 OCT

Zimbabwe Introduces New Digital Currency - allAfrica.com (10/10/23)

Zimbabwe launched a new gold-backed digital currency in an effort to halt re-dollarization, which the administration of President Emmerson Mnangagwa worries could destroy the country's already .

  The digital tokens, also known as Zimbabwe Gold (ZiG), which are primarily measured in milligrams, can be used for transactions by both private individuals and businesses, according to the nation's C. In addition to being priced in U.S. dollars and local currency, they can be purchased via banks in ZiG, while bank customers can make purchases with ZiG accounts through POS (point-of-sale) systems or online payments.

 Zimbabwe introduced  in July 2022 to be used in peer-to-peer and peer-to-business transactions, as well as serve as a store of value as the local currency continued to depreciate against major currencies.

 Physical gold coin owners can swap or convert their coins into digital tokens that are backed by gold through the banking system.

 After a decade of dollarization that followed record-breaking hyperinflation under former leader Robert Mugabe, Zimbabwe reinstated its own currency in 2019. The Zimbabwean dollar, however, rapidly  against foreign currencies. This week it was trading at a rate of ZWL$5,252 to $1, and on the black market, one dollar can now be bought for ZWL$10,000.

To defend the  at the height of the Covid-19 pandemic, the government instituted a multi-currency system. Today, authorities estimate that US dollars account for 80% of economic transactions.

Zimbabwe's top export product is gold. The nation produced 35.2 metric tonnes last year and in 2023, according to the administration, it aims to produce 40 metric tonnes in an effort to boost mining sector income and revive the flagging economy. The majority of the the country's gold, according to watchdogs, is sold through . A documentary by Al Jazeera  how members of the southern African country's political elite smuggled the gold to refineries in Dubai.

The Reserve Bank of Zimbabwe denied having any connections to the smugglers after  that the smugglers used the Central Bank to launder money through its gold buying activities.

Soaring inflation is piling pressure on President Emmerson Mnangagwa in a country that still remembers the economic chaos under Mugabe's almost four decades of rule. Hyperinflation forced the country to abandon the Zimbabwe dollar in 2009, and it opted instead to use foreign currencies, mainly the U.S. dollar.

https://allafrica.com/stories/202310100479.html

"RV UPDATE" BY FRANK26, 11 OCT

 Frank26  

 Alaq and Sudani are removing all foreign currency from your [Iraqi citizens'] country because they are protecting you and your national currency from any foreign terrorism.

  They are using all mechanisms...These mechanisms come from the CBI.  They were structured by the monetary reform under Dr. Shabbibi. One of the last final things is to remove all foreign currency so you only have your currency in your country.

 I think when the United Nations meeting occurred with Sudani a lot of things were accomplished and a lot of things moved forward faster than we expected.

  And I believe because of that meeting in New York, the United States of America is boxing in Iraq by demanding they stop the corruption with the American dollar...

FRANK26…IQD….10-11-23……RING A DING DING…..HELLO ?

Breaking News: The Explosive Surge of the Iraqi Dinar (IQD) in FOREX, 11 OCT

Breaking News: The Explosive Surge of the Iraqi Dinar (IQD) in FOREX – Revealing the New Rate and Unleashing the Power of Iraq’s Currency

In the high-stakes world of Forex trading, fortunes are made and lost in the blink of an eye. But there’s one currency that’s been flying under the radar, waiting for its moment to explode onto the scene – the Iraqi Dinar (IQD). Today, we unveil the secrets and shed light on the enigmatic IQD, a currency that’s poised to redefine the game.

Brace yourselves for a rollercoaster ride as we dig deep into the hottest Forex topic of the year!

The Forex market, the world’s largest and most liquid financial market, is a battleground where traders strive to seize every advantage. Amidst the relentless chaos, the Iraqi Dinar (IQD) has been a subject of intrigue, overshadowed by the giants of Forex. But recent developments are set to change the game entirely.

IQD’s Explosive Surge: A Game Changer

Imagine, for a moment, a currency that has languished in the shadows for years, only to suddenly emerge as the dark horse of Forex trading. The IQD has quietly plotted its resurgence, and now it’s ready to roar. The burning question on every trader’s mind is, 

“What’s the new rate of the IQD in Forex?”

Unmasking the IQD: The Hidden Potential

For years, the Iraqi Dinar has been an enigmatic currency, with its fate seemingly tied to the turbulence of Iraq’s political and economic landscape. But beneath the surface lies a potential goldmine that few have dared to explore. Let’s dive deep into the heart of this remarkable currency and uncover the untold story of its rise.

The Perfect Storm: Factors Fueling IQD’s Rise

The Forex market is a complex ecosystem influenced by countless factors. In the case of the IQD, several converging forces are driving its meteoric ascent.

1. Geopolitical Stability

Iraq, once synonymous with turmoil, is now making strides towards stability. The country has emerged from the shadows of conflict, and its government is actively pursuing economic reforms. This newfound stability is a beacon of hope for the IQD.

2. Oil Reserves and Economic Potential

Iraq boasts one of the world’s largest oil reserves. As global demand for energy continues to rise, I raq’s oil wealth becomes a key driver for its economic growth. The IQD stands to benefit immensely from this potential economic boom. »»» The future of alternate energy in a BREAKTHROUGH DISCOVERY. Helps You Save Up to 70% On Your Power Bill ​THIS POINT FORWARD

3. Currency Speculation

Smart money is flowing into the IQD, as astute traders recognize its potential for exponential gains. The currency’s undervaluation for years has created a tantalizing opportunity for those who dare to speculate.

4. Market Sentiment and Technological Advances

In the age of social media and real-time information dissemination, market sentiment plays a pivotal role in Forex trading. The IQD’s recent buzz on social platforms has ignited a frenzy, propelling its value to unprecedented heights.

IQD Trading Strategies: Seizing the Opportunity

In a market as competitive as Forex, success hinges on a well-crafted strategy. To make the most of the IQD’s explosive surge, traders need to be armed with the right tactics.

1. Fundamental Analysis

Delve into Iraq’s economic indicators, political stability, and oil market dynamics. Understand the forces that drive the IQD’s value and make informed trading decisions.

2. Technical Analysis

Leverage technical indicators, charts, and patterns to time your trades effectively. The IQD’s recent price movements present a treasure trove of data for astute technical analysts.

3. Risk Management

As with any high-reward endeavor, Forex trading carries inherent risks. Employ sound risk management practices to protect your capital and maximize your profits.

4. Stay Informed

In the fast-paced world of Forex, staying ahead of the curve is crucial. Keep a keen eye on geopolitical events, economic releases, and market sentiment to adapt your strategy accordingly.

The Verdict: Is the IQD a Golden Opportunity?

The explosive surge of the Iraqi Dinar in Forex is undeniable. However, it’s essential to approach this opportunity with caution. The Forex market is notorious for its volatility, and the IQD’s ascent may not be without its share of bumps along the way. 

That said, the IQD represents a unique chance for traders to ride the wave of Iraq’s economic resurgence. With careful planning, strategic execution, and an appetite for calculated risk, the IQD may indeed be a golden opportunity waiting to be seized.

As the Forex world watches in awe, the Iraqi Dinar has staged a remarkable comeback. It’s a story of resilience, potential, and untapped opportunity. The new rate of the IQD in Forex is the hottest topic in trading circles today, and it’s a testament to the power of the Forex market to unearth hidden gems.

But remember, in the world of Forex, fortune favors the bold and the well-prepared. As you contemplate your next move, keep a close eye on the IQD, for it may just be the currency that defines your trading journey. The game has changed, and the IQD is leading the charge. Are you ready to join the ranks of those who see beyond the surface and seize the future?

Stay tuned, fellow traders, for the IQD’s journey is just beginning, and the Forex landscape may never be the same again. As the saying goes, “Fortune favors the brave.” Will you be one of them?

So, there you have it – the explosive saga of the IQD’s surge in Forex. Buckle up, traders, for this ride promises to be a thrilling one. As the world watches and waits, you have the power to make history in the ever-evolving world of Forex trading. The IQD beckons, and the future is in your hands.

https://amg-news.com/breaking-news-the-explosive-surge-of-the-iraqi-dinar-iqd-in-forex-revealing-the-new-rate-and-unleashing-the-power-of-iraqs-currency/?fbclid=IwAR2D-ib5IOZUF8G-313KVhqLVm_CPagw8Awtuns1ftg45pOMdgUsj4nJC6o

Iraq Prepares to Resume Oil Exports through Turkish Port Amidst International Arbitration, 11 OCT

Iraq Prepares to Resume Oil Exports through Turkish Port Amidst International Arbitration

In a significant development in the global oil market, the Iraqi government has announced its readiness to resume oil exports from the Kurdistan Region and Kirkuk via the Turkish port of Ceyhan. The move comes after a hiatus induced by a ruling from the International Arbitration Court in Paris and various seismic-related issues. The pipeline, a crucial conduit for oil exports, is currently undergoing rigorous inspections and technical assessments by Turkish authorities. 

The Historical Dispute

The contentious issue of the oil pipeline between Turkey and Iraq has been simmering for nearly a decade now. The controversy was sparked off when Kurdish oil was independently exported under a 2014 agreement between Ankara and Erbil, permitting oil from Iraqi Kurdistan to be sold through Turkey’s port of Ceyhan. Traditionally, the vast majority of Iraq’s federal oil exports are shipped through the southern Gulf coast. 

In retaliation to the independent Kurdish exports, Iraq lodged an arbitration case with the International Chamber of Commerce (ICC), accusing Turkey of breaching a 1973 pipeline agreement by allowing oil exports from Iraqi Kurdistan without Iraq’s formal consent. The ICC’s decision in March was centered around a clause in the 1973 agreement’s annex, which stipulated that Turkey could only purchase oil via certain channels. 

The Current Situation

Since the ICC ruling, the transfer of crude oil from Iraq to Turkey has been put on hold, creating a cloud of uncertainty over when and how the issue would be resolved. Despite whispers of a possible visit by Turkish President Recep Tayyip Erdogan to Iraq, there have been scant indications of an imminent agreement. 

Adding to the complexities was a recent explosion near the town of Pazarcik in southeastern Turkey, which brought a temporary halt to the pipeline that transports oil from Iraq to international markets. The explosion, which triggered a significant fire, was reportedly caused by a falling electricity pole during severe weather. Kurdish rebels, known for targeting pipelines in the region in the past, have been ruled out as the cause of the incident. 

Looking Ahead

According to Turkish Energy Minister Alparslan Bayraktar, the northern oil export route through Turkey is set to restart operations soon, following a thorough check on pipeline maintenance and repairs to damages caused by floods. However, oil flows are not expected to recommence before October, resulting in an estimated loss of approximately $4 billion in exports for the Kurdistan Regional Government (KRG).

Both Iraq and Turkey are actively working to safeguard their interests, both legally and diplomatically, as the situation continues to evolve. Ankara is pressuring Baghdad to retract a second arbitration case covering the period from 2018 onwards and negotiate a reduced payment. Simultaneously, Turkey is advocating for Erbil and Baghdad to arrive at a common stance and negotiate the continuation of the pipeline agreement, which is due to expire in 2026.

https://bnn.network/world/us/iraq-prepares-to-resume-oil-exports-through-turkish-port-amidst-international-arbitration/

Putin Criticizes U.S. Policy in Middle East as a Failure, 11 OCT

 Putin Criticizes U.S. Policy in Middle East as a Failure, 11 OCT

In a recent interview with the US 24 channel, Russian President Vladimir Putin called out United States’ policy in the Middle East as a failure. This assertion has stirred global discourse about the effectiveness of U.S. interventions in the region.

Putin’s Critique of U.S. Policies

During a meeting with Iraqi Prime Minister Mohammed Shia Al-Sudani, Putin criticized the U.S. policy in the Middle East. This critique was primarily based on the recent escalation of violence between Israel and the Palestinians, which Putin described as a “vivid example” of the failure of U.S. policy in the region.

He accused the U.S. of trying to monopolize the peace process and failing to consider the interests of the Palestinians, particularly their need for an independent state. He stated that the U.S. has moved away from previous international instruments for resolving the Middle East conflict and monopolized the settlement process. Putin’s comments have highlighted the intensifying global scrutiny of U.S. foreign policy, which critics argue often lacks a comprehensive understanding of regional complexities.

Escalating Violence and Calls for Ceasefire

The ongoing conflict in the Middle East has resulted in a significant number of civilian casualties. Both Putin and Turkish President Tayyip Erdogan have expressed concern about the escalating violence and called for an immediate ceasefire. These calls come amidst growing international pressure for a cessation of violence and a return to diplomatic negotiations.

Russia’s Role in the Peace Process

Although Putin did not mention Russia’s own role in the peace process during the interview, the Kremlin has expressed its intention to play a part in finding a solution to the conflict. This development may indicate Russia’s increasing interest in influencing the geopolitical dynamics of the Middle East and potentially challenge U.S. dominance in the region.

The Future of U.S. Policy in the Middle East

When asked if he believes the U.S. policy will change, Putin responded that he doesn’t know and suggested asking American policymakers directly. This response underscores the uncertainties surrounding the future of U.S. policy in the Middle East and its potential implications for regional stability.