Chamber of Commerce: 13 million people are paying the price due to central bank policies, 17 OCT

Chamber of Commerce: 13 million people are paying the price due to central bank policies

 On Monday, the Diyala Chamber of Commerce identified what it called the three failures in stabilizing the parallel market in Iraq. 

The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, said in an interview with “Al-Ma’louma” that “the failure to control the rhythm of the dollar exchange rate in the parallel market and the large difference between it and the official price and the presence of smuggling in various ways, in addition to the lack of transparency in distributing the dollar shares to travelers according to In official contexts, they represent the most important failures of the central bank.” 

He added, "The Central Bank is responsible for the dollar file in Iraq, and what is happening represents negative repercussions that must be taken into account and its objective reasons explained," stressing that "13 million Iraqis suffer from the threat of poverty and are paying the price due to the instability of the price of the dollar because it exerts strong pressure on the prices of materials." Food and medicines. 

He pointed out that "the continued instability in the currency market calls for structural changes in the central bank that lead to changing currency regulation strategies at the earliest opportunity and reduce the risk of speculation that plunders millions of Iraqis.  link

Coffee with MarkZ. 10/17/2023

MarkZ Tuesday  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

Member: Good Day my friends, it's a great day in the neighborhood!

Member: Every morning we wonder “Is this the day?”  

Member: Hey Mark.. instead of taco's today, can we just RV???

Member: Mark, what is truly holding this up? If Iraq is ready to go, and this are being said all ready to go in US, and Chinese Elders and Russia pushing for this, why won't it go?

MZ: Well Iraq is certainly putting the US between a rock and a hard place right now. 

Member:  the cabal seems to be holding it up I think…They are not going down without a fight

MZ: Fairly quiet on the bond side…but in Iraq “Sudani receives an official invitation from Sisi to participate on a summit on Gaza”  He is a leader of Israel and he wants Iraq there as a calming “voice of reason” in the region. This is Iraq ascending to the world stage and becoming a key, important player. This shows their stability as a nation and leadership in their government. 

MZ: One of the key things we needed for the rv of their currency is stability of their nation. We are seeing this now plus respect from other Arab nations. 

MZ:Z I think this is an important piece….”Iraq raises interest rates to 7.5% and the economic council is considering raising that rate”  This is not the borrowing rate….this is the savings rate. They are paying 7.5 percent to get you to put your money in the bank. This does a couple things….it shores up their economy , stabilizes the consumer (not the government but the people) …So in Iraq they are putting the citizen ahead of the government. 

MZ: It also does something else very important. It streamlines any rate changes. With the money in the banks…they are not as worried about the money changers on the street….This makes it easier to do a re-valuation. 

MZ: Nader had a video …In a nutshell he is talking about how we see the US dollar rate slipping and the dinar increasing…..It may even be higher in the Erbil region then it is in the southern regions right now which is very interesting…So the Iraqi dinar is strengthening and the US dollar is weakening which is what we want to happen. 

MZ: In world news: “ BRICS: US and Europe may soon need local currencies to buy oil”  Does anyone know how  BIG this is??!!!   What has made the US dollare the biggest in the world? Buying oil through the petrodollar….which may soon have to convert itself to ruble, yuan or Arab currencies in order to purchase fuels we cannot make here for ourselves. This is the great collapse happening before our eyes. This is absolutely huge. 

Member: Mark- what is your opinion of the Iranian Rial right now? Do you still think it will go to $3+?

MZ: Yes. Some of the initial stuff I saw on it was showing it might be at $2.80-$2.90….but, if you look at the values Iraq wants….and what is going on in the region…it would not surprise me if Iran goes at over $3. Their value is priced based on oil and gas just like Iraq. 

Member:  Saw a ad this morning from Chase. They are advertising themselves being Wealth Managers....

Member:  Hi Mark. An alternative to tell people your rich is you got an email from an Africa nation about an inheritance and you submit your mailing address, they mail you a check and the rest was history lol

MZ: There you go…..Yes…tell them those funds you invested with the Nigerian Prince were finally released to your friends who had ridiculed you. 

Member:  RV is like blowing out a Trick Birthday Candle ….

Member: Ready to leave “Groundhog Day “  behind…..Come on RV 

Member:  They said it would be crazy and dark before we see the light and prosperity..think we're there

Member:  Mark, many thanks as always for bringing all the latest updates and news.

StacieZ joins the chat today with health news. Please listen to the replay for her information. 

“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

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Al-Kadhimi Denies The Intention To Print A New Currency And Accuses The US Federal Reserve Of The Dollar Crisis, 17 OCT

 Al-Kadhimi Denies The Intention To Print A New Currency And Accuses The US Federal Reserve Of The Dollar Crisis

Politics   10/17/2023 09:48  Number of readings: 153   Baghdad - Iraq today:  The Parliamentary Finance Committee denied the government's intention to print a new local currency, while revealing the influence exerted by the US Federal Bank on the continuation of the dollar crisis.

Committee member Moeen Al-Kazemi said in a press statement, “Talk about the federal government intending to print a new local process has no truth at all, and the Iraqi dinar has a cover and bonds of approximately 150 billion dollars.”

Al-Kadhimi added, “Addressing the discrepancy in the dollar exchange rate does not happen by printing a new currency, but rather through thoughtful steps that should be implemented by all concerned parties.”

He pointed out, "The Central Bank covers the needs of merchants at the official price of 132 thousand dinars for every 100 dollars, and the reason for the disparity is the black market." He stated, "The influences exercised by the US Federal Bank to maintain this crisis for political purposes in Iraq." LINK

The Iraq Dinar Revaluation Really Happening | Iraq's Exchange Rates in F...

An Economic Advisor Talks About A "Stumbling Block" In The Way Of Iraq's Entry Into The BRICS Group, 17 OCT

 An Economic Advisor Talks About A "Stumbling Block" In The Way Of Iraq's Entry Into The BRICS Group

Money  and business  Economy News – Baghdad  Economic advisor Duraid Al-Anazi said that Prime Minister Muhammad Shiaa Al-Sudani’s request regarding Iraq joining the BRICS group is “strange,” because the group does not extend an invitation to anyone, but rather accepts the request.

Al-Enezi added, in a televised interview followed by Al-Iqtisad News, that “Al-Sudanese is on the condition of sending an invitation to Iraq to join the group,” considering that in this way “a stumbling block was placed in front of Iraq’s entry into BRICS.”

He pointed out that "entry into the group (is) by submitting an application like the rest of the Arab countries and the world."

He continued, "BRICS is economically prepared to replace the dollar, but the bank established by BRICS still operates in dollars."

It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani said last Wednesday that Iraq is ready to join the BRICS group, if it receives an invitation from the founding countries.

203 views  10/16/2023 - 9:38 PM  https://economy-news.net/content.php?id=36992

Iraq’s PM to participate in emergency Cairo summit on Gaza, 17 OCT

 Iraq’s PM to participate in emergency Cairo summit on Gaza, 17 OCT

Shafaq News / The Prime Minister of Iraq, Mohammed Shia Al Sudani, received an official invitation today, Tuesday, from the Egyptian President, Abdul Fattah Al-Sisi, to participate in an emergency summit being held in Cairo to address the events in Gaza.

Al Sudani’s Media Office stated that the Prime Minister received an official invitation from Al-Sisi to participate in an emergency summit to be held in Cairo. 

The summit will bring together a group of Arab and regional leaders to discuss the situation in the Gaza Strip and the attacks being endured by the Palestinians.

It is noteworthy that yesterday, on Monday, US President Joe Biden held a phone call with Al Sudani as part of his efforts to contain the conflict between Israel and the Palestinians, according to a statement from the White House.

Subsequently, Al Sudani’s Media Office stated that during the call, the ongoing field developments in Palestinian territories were discussed, emphasizing the importance of mobilizing efforts and working collaboratively to support sustainable stability in the region, as well as efforts to enhance the bilateral partnership between Iraq and the US, per the Strategic Framework Agreement between the two countries.

Both sides, as per the Iraqi government statement, emphasized the need to contain the conflict and work towards preventing the expansion of hostilities that target civilians, posing a threat to regional and international peace and stability.

Al Sudani reiterated Iraq's steadfast and principled position regarding the situation in Gaza, stressing the importance of opening humanitarian corridors to deliver essential aid to the people of the region who are suffering from an oppressive war and blockade.

https://shafaq.com/en/Iraq-News/Iraq-s-PM-to-participate-in-emergency-Cairo-summit-on-Gaza

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