[via PDK] Question: What is your gut saying right now Mark? My gut is screaming – right now!! I’m looking at all these diversions, and my gut is still screaming we are right on top of this thing…and that we are going at any moment…maybe even this week.
This is a big one and has got to have the US scrambling right now. “Al-Sudani confirms Iraq’s readiness to join the BRICS group” Why is this important? Iraq is signaling to the US they have a “PLAN B” that if they don’t let this go they can go without you. The US is holding billions of Iraqi dollars…and at some point they may just write those billions off so they can have freedom. I believe the US is now on a time schedule…they only have so much time left before Iraq joins the BRICS nations and no longer needs the US.
To me this is a huge story.
We do have people from the UN in Iraq today. “UN Security council to discuss Iraq: budget, security and human rights on the agenda” They are telling us how well the discussions went. They say Iraq is making great progress.
Comment: I think the US is holding up the process. MarkZ: I think they were…I don’t think they are now. I think they desperately need it now...guess what the US desperately needs right now for stability? They need Iraq to RV.
The citizen wonders: When will exchange rates be controlled, 12 OCT
In general, the average citizen does not have a direct interest in the dollar or its associated exchange rates. The majority of the population consists of employees, retirees, earners, those covered by social protection, the unemployed, those with special needs or those who are unable to work, and most of them manage their livelihoods with the dinar. They receive salaries, wages, subsidies, or other methods of payment, which are often limited and may not meet the requirements of subsistence living. Although the dollar has been involved in important events, such as smuggling, waste, and money laundering operations, most citizens have nothing to do with it.
The Central Bank has opened the currency window to protect people from dollarization, and through it, business owners can trade dollars by importing goods that constitute a significant percentage of consumption. This means that the majority of Iraqis can obtain their needs for local and imported goods and services at almost stable prices because the dollar is insured for those who need it. Therefore, the poor can give up the dollar in exchange for the relative stability of prices in the markets. The dollar is only necessary for specific cases, such as travel, study, immigration, or treatment.
The government led by Mr. Al-Kadhimi triggered a crisis in the livelihoods of the people by changing the exchange rates to 1,450 dinars per dollar in agreement with the Central Bank and some politicians, without adequate measures to compensate for the decrease in purchasing power and the consequent rise in prices, which affected many categories of people. This caused great difficulties for those with limited income and the destitute, forcing them to adjust to the new reduction in dinar prices without any change in the salaries of employees and retirees.
The change also led to the manipulation of prices by some unscrupulous sellers and exploiters, even though the exchange rates were only 1,480 dinars per dollar on the black market. When the Al-Kadhimi government was replaced, many hoped for a return to the previous exchange rates. The new government, led by Mr. Sudan, initiated a series of reforms aimed at improving the lives of its citizens and decided to reconsider the exchange rate, setting it at 1320 dinars per dollar. While this still exceeded the previous rate, it was seen as a positive step towards reducing prices and achieving a balance between family income and spending requirements.
It is believed that the increase in oil prices will lead to an improvement in living standards. Last September, the country earned $9.494 billion from the sale of oil. However, it is puzzling how the price of eggs could jump from 6 to 8 thousand dinars within days despite the country’s huge revenues. This is especially concerning as the salaries of employees and retirees have not increased in dinars, and workers in the private sector are experiencing a decrease in income due to market downturns and economic recession.
The government and the Central Bank have implemented measures to control the dollar exchange rates on the black market, however, the situation has not improved and is in fact worsening. The current exchange rate is 1640 in the markets, compared to 1320 for the official rate. This means that the Central Bank is selling more than 240 million dollars a day to meet import needs.
It is reasonable to question the effectiveness of these sales, as the logic of reason suggests that if the markets require 50 million dollars to meet the demand for the dollar, then where is the impact of the sales, given that remittances amount to ten times the demand in black? Furthermore, where do the billions go when the state covers travel needs and other expenses? It is not reasonable for these millions to be smuggled in cash while the state has a constitution, security, judicial and regulatory apparatus, and spends trillions on them. This raises numerous questions, and the citizen should not be blamed for asking them. There are concerns that the price will exceed 1,700 within days and may cross the 2,000 dinar barrier in the coming weeks.
There is growing concern over the rise in the dollar exchange rate. This is due to expectations of stability being dashed again and again, as has been the case since February. Despite economic advisors’ predictions, the situation has not improved. Just yesterday, the Prime Minister’s Advisor for Investment Affairs predicted that stability in the dollar exchange rate against the Iraqi dinar in the parallel market would return within two months. He noted that what should have been achieved in six years is now being attempted in just one year, which has significantly impacted the dollar exchange rate.
He also highlighted widespread corruption within certain banks and banking companies, which has led to the smuggling of dollars. When asked if the price of the dollar will continue to rise, the answer was yes, it may continue for a while. However, it is expected that within a month or two, the exchange rate will begin to decline due to 70% of trade in Iraq moving to the electronic platform.
In a related development, the State of Law coalition has proposed a new government project that involves the adoption of currencies other than the dollar for trade exchange with three countries, including China, Iran, and Russia. A leader in the coalition explained that if implemented correctly, this project could help reduce the demand for dollars in Iraqi markets.
He stressed that the current rise in the dollar exchange rate in Iraq cannot be reduced by any party, including the Central Bank, as long as the demand for it remains high. Regarding America’s position on this new project, he clarified that the US has nothing to do with it. It does not matter whether or not America agrees with the project to create a currency other than the dollar for Iraqi commercial transactions, as long as there is a will from Iraq and the other countries involved.
If we rely on the statement that assumes prices will be controlled after two months or on the statement that introduces a new plan for trading in non-dollar markets, without specifying its duration, we must ask ourselves: How can the average citizen cope with the dinars he receives or earns? Does he manage his finances day by day or month by month? Who can guarantee that the prices of goods and services will not continue to rise when there is no hope of increasing salaries for employees and retirees in the near future?
Any increase in salaries is directly linked to the budget that was prepared for three years, and it suffers from an annual deficit of more than 60 trillion dinars. Furthermore, our economy is highly dependent on oil exports, the value, quantity, and prices of which are subject to international variables and events that are becoming increasingly complex. Therefore, we need practical solutions to answer all these questions. When we ask these questions, our goal should not be to give in to despair but to formulate actual solutions to what is happening and not to fill pockets with wishful thinking.
If you are a student of Forex you will be able to see right now the Iraqi dinar is trading in massive volumes. It is putting itself in position when the new exchange rate comes out.
I'm frustrated like you. I'm disappointed in Sudani although I should respect the process but dog-gone-it Sudani.
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.
[Iraq boots-on-the-ground report] FIREFLY: Sudani said the banks that did not have our money that we deposited have basically been using that money on the black market to make money with a high exchange rate and this will stop. They better come up with the month to pay our deposited money back or actions will be taken by the CBI toward these banks. He spoke to high end corruption and how this too will end. FRANK: I knew Sudani had everything under control but this is a little surprising to me. It is very good news.
Biden Administration Prioritizes Diplomacy Over Military Intervention in Hostage Situations, 12 OCT
In a significant policy shift from the previous administration, a Biden aide revealed that the US is currently not considering the use of American troops for hostage rescue operations. Instead, the emphasis is on diplomatic efforts and collaboration with partner nations to resolve hostage situations.
A Shift from Aggression to Diplomacy
The decision not to use American troops for hostage rescue operations is aligned with the Biden administration’s broader approach of prioritizing diplomacy over military intervention. This policy shift reflects a departure from the previous administration’s more aggressive stance towards hostage situations. The Biden administration aims to work closely with international partners to address the root causes of hostage-taking and enhance the effectiveness of diplomatic negotiations.
Minimizing Risk to American Troops
By relying on diplomatic channels and collaboration with partner nations, the US hopes to achieve successful outcomes in hostage situations while minimizing the risk to American troops. The current administration’s approach underscores the importance of diplomacy in addressing international crises and aims to prevent unnecessary military confrontations that could put American lives at risk.
Amid Rising Concerns Over Troop Safety in the Middle East
The statement comes at a time when the Pentagon expresses concern over potential attacks on American troops stationed in the Middle East amid escalating conflict between Israel and Hamas. Defense Department officials are specifically apprehensive about Iranian proxy groups in Iraq and Syria, as well as Iranian forces in the Persian Gulf, exploiting the region’s instability to target American or partner forces.
Ensuring Defense Support to Israel
Despite not considering the use of American troops for hostage rescue, the US is committed to ensuring Israel’s defense. It is providing additional defense-related support to Israel and has deployed the USS Gerald R. Ford aircraft carrier and its strike group to the Eastern Mediterranean for deterrence purposes. The USS Dwight D. Eisenhower and its strike group will also be deployed to the region if needed. This shows that while the US is reducing its military intervention in hostage situations, it continues to maintain a powerful military presence to deter potential threats to its allies.
Welcome, everybody to the big call tonight. It is Tuesday, October the 10th and you’re listening to the big call. Thanks for tuning in wherever you are around the globe. Last Thursday, we hit a peak of 198 countries with at peak time 28 point 5 million listeners.
So we really had a good reach. I think that was a record for us on last Thursday’s call so I have no idea how we’re gonna go a far we’re going to reach out tonight but we’ll see what happens. Anyway, we slice it. Thank you so much for listening everybody thanks for coming in
So let’s go into some intel. We have been told to be ready at any moment for notifications to come out. That was told to us this morning very early. Now, there are some political changes, I believe, that will start tomorrow that will take place we are hearing starting tomorrow –
We are looking for a new speaker of the house, we think that’s Jim Jordan. And we also are looking for something to come out of Chief Justice Clarence Thomas with the Supreme Court – that decision, and I believe Brunson might be part of that, that he brings up.
Like we’ve been told it would so we’ll see because we’ve also been told by bond paymasters, that went in today with certain bondholders they’ve got a little bit of money more or less walking around money, we call it but they were told that they would be able to have access to the majority of their funds within the next three days. So I read that is within either Wednesday, Thursday or Friday.
Now we tend to parallel what’s going on with the bond holders – We’ve also moved to look for this in the next three days for our notifications Wednesday, Thursday or Friday.
If that occurs, we should be in pretty good shape between now and Friday.
It’s just that it’s just guys we are just right on the edge of it. We’ve been told this thing is imminent. it’s right there. Everything’s done.
I wonder whether or not what’s happening in Israel is a factor or not. You would think it would be a factor but we were told two days ago, what was happening in Israel was about a prisoner swap between Israel and Palestine and maybe one or two other countries with Israel.
Now, we understand that under just sorrow, countries need to be at peace they need to return or for prisoners of war to their proper countries. And we know that has happened in most cases. But this is one I think it’s coming down to that happening, which which started two nights ago, two nights ago, which would have been Tuesday night overnight. So is that is that accomplished that week?
I don’t know that yet. We’re not going to know that necessarily. But I’m looking forward to all of that. And we know that there’s always clean up to take place. And the majority of that I think has been done to where we’re able to move forward. Our military and our National Guard are stationed and prepared for any hotspots, political hotspots in the country. And I believe that they’re going to be able to minimize any effects from the political turnover.
We’ll see what it looks like. We do believe that there’s a possibility that they would use the Emergency Alert System, the Emergency Broadcast System, and the emergency wireless system EWS with any announcements as early as tomorrow. It could be on those networks and it mainstream media, television is reluctant to put this out I think they have the military has an alternative means to make that happen.
So we are right in the midst of it right now. And this is a this is really an interesting time for us. I know you guys had the faith or you wouldn’t have had the faith to believe in what we all believe in is going to take place with this resetting of global currencies. And there is just so much happening right now to make everything come together.
My understanding is that the global financial system through the quantum financial system has been completely connected interconnected with all the banks around the globe. They did get that complete. So in a startling system, I believe is up and ready to go and they’ll be increasing our speed on our cell phone service and our internet through this month – More like middle and end of October.
I told you guys last Tuesday what to expect in terms of increases in Social Security this month. And also in terms of getting the r&r, the institutional and reformational allowance is looking like right now, unless nothing changes. We are set to get those lump sums coming in for age group of 60 and older about the 18th or 25th of this month of October and that would be over a three month period of three equal payments of that lump sum divided by three paid out over the next three months, including October.
So we’ll see how this all comes together. It’s a lot to get done. I believe they’re pretty much on course. But we’ll see if if there’s any delay other than where we are right now. We kind of thought we would be notified by the day yesterday or today. And we didn’t get notified. But and then the bondholders were also told they were expecting full liquidity today. And they were just given a little bit today.
But they were told they would have their funds within the next three days Wednesday. Thursday, Friday. That’s what we’re looking for for them. And it’s also what we’re looking for, for our notifications and start of our exchanges within the next three days. Let’s see what manifests. Let’s see what happens.
So that’s what I wanted to bring to you guys tonight. And let’s go ahead and pray the call out and we’ll take it from there. Okay, thanks everybody again for listening. I hope we got a good reach tonight around the globe. Let’s pray the call out.