If they're going to go from 1310 to something different...likely to get into the international world with a Fair Effective Exchange Rate there's going to be a major change to the commercial system ...
Obviously he's [Alaq] talking about changing the commercial system. So something has to change and what we think that is...is their exchange rate.
Article quote: "The decision to collect fees in Iraqi dinars at border crossings is an important decision aimed at preserving the hard currency and also straightening the Iraqi dinar"
They have a goal of stop using the dollar and using the Iraqi dinar at the customs borders. Everybody should be clicking their ruby slippers because that's going to be a lot money. A lot of revenues are going to come through those borders.
Quote: " Any party that does not adhere to this decision will be subject to punishment." They're getting strict.
When people say there's not too much progress going on - well some of these things take a long time to put together and most of them are coming into fruition as we speak.
85% of it is in homes... “Hoarded cash” is the most difficult equation in reforming the banking system
Today, Monday (October 23, 2023), the financial advisor to the Prime Minister, Mazhar Mohamed Saleh, set the priorities for reforming the banking system and the conditions for achieving it.
Saleh told the official agency, “The basic function of the banking system is bank credit or granting loans and is based on a basic lever aimed at attracting hoarded funds from outside the banking system and pushing them into banking channels.”
He added, "Banking reform can play its effective role in searching for easy banking mechanisms that help at the same time strengthen credit activity or grant loans, and proceed with financing economic activity more broadly without stumbles in bank liquidity."
He stressed that "this will achieve the goal of central banking reform in achieving easy, low-risk credit, through the availability of reform mechanisms capable of regularizing the flow of funds within the banking system and transferring them from economic surplus units (saved and hoarded) outside the banking system to become in the form of bank deposits that are protected." Sufficient liquidity risks are then transferred through credit or lending operations to financial deficit units that are looking to obtain financing to carry out investment and economic activity.
He pointed out that “the fundamental problem that the banking system suffers from, and the aspiration to reform that system, lies in the following question, which is: How can banks reverse the hoarding equation represented by the public’s retention of about 85% of the issued currency, which is still in the form of hoarded balances outside the banking system and is considered inactive, unused balances?” Effective, and does not provide any important service to the national economy, and that some of it operates with very high usurious borrowing risks?
Saleh believed that “one of the priorities of banking reform is to work to reverse the hoarding equation to become a savings equation with which the public’s surplus funds flow in the form of safe bank deposits, which requires that banks compete to attract deposits and provide loans in accordance with the banking management requirements that banks must work with, whether they are Governmental or private?
The Prime Minister's advisor continued, "Therefore, the basics of banking reform are for banks to search for adequate, effective and influential means that attract the public to open bank accounts, because the bank account is one of the basics of financial inclusion and encouraging individuals of all segments to make bank deposits, and by encouraging means the priority for the depositor to be obtained is On bank credit or banking facilities when needed before others, to ensure that the public is encouraged to make double deposits.
He noted that "the banking system still deals with only 15% of the monetary mass issued into circulation until today, which is called cash leakage outside the banking system, and it is one of the basic indicators from which banking reform begins."
He pointed out that "the priorities of banking reform are achieved in providing competitiveness by winning public deposits by facilitating cash deposit procedures and creating an effective atmosphere of reassurance that the deposited funds are protected according to the law and that the Iraqi Deposit Guarantee Company is the primary protector of deposits against banking risks."
He stated that “the first and final goal of reforming the banking system will remain based on quickly providing facilitated banking services to economic activity with the highest levels of facilitation, in addition to providing positive incentives to the public in order to deposit, whether with encouraging bank interest or facilitating (easy and safe) deposit and withdrawal methods for their money, in addition to obtaining loans.” "Before others."
He pointed out that "the overall banking reform that we are looking forward to requires searching for means that embody the ability to transfer funds from the surplus units that hoard cash wealth (the public), which are mostly unemployed and hoarded, to be transferred to the investment forces that are searching for funds to complete the national income cycle and contribute to economic growth through... Granting credit and carrying out the real productive activity necessary to sustain development, which at the same time requires sustainable bank financing coupled with banking reforms as a precondition. link
When you ask when is it going to happen... ask how is the cleaning going. How is the removal of Iran...eradicating the smuggling going. That's what we want to know. Nothing else.
Because once the atmosphere is suitable you're going to get what you want. You're never going to get rid of the cockroaches but you can definitely control them. That's what's happening right now - corruption is being controlled, it's being cleaned up.
Major powerful countries are coming into Iraq. It's going to affect their currency exchange rate. More than anything else it will rocket their float and that when you have to be very astute. Watch it...You've got to watch the rate in the float. Know when to hold'm and know when to fold'm. Know when to backoff.
Question "Many years ago Dr. Shabibi said the dinar would be able to support it up to $16. Would that still be true for the RI?"
No, it's far past that but it would be illogical to come out at $16 or $28 or whatever. You need that margin for the float.
You don't need it to show off. That's what Kuwait did and they realized their mistake...The next day
they brought it back down very quickly. It gave a window for sharks and whales...and they made massive amount of money. Obviously it was done on purpose. And obviously the IMF doesn't allow that to happen again.
Al-Sudani reaffirms commitment to U.S.-Iraq strategic framework agreement, 23 OCT
Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani engaged in significant diplomatic outreach on Monday, holding discussions with U.S. Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin.
During these conversations, Prime Minister Al-Sudani reiterated Iraq's steadfast commitment to the U.S.-Iraq Strategic Framework Agreement across various domains.
In a statement, it was revealed that Prime Minister Al-Sudani and Secretary Blinken discussed the escalating developments in the Gaza Strip and the worsening humanitarian situation for the Palestinian people.
Both leaders emphasized the critical need for coordinated efforts to ensure continuous and secure access to food, water, medical care, and other essential aid for the affected population.
The call also highlighted Iraq's commendable efforts in providing humanitarian assistance to civilians in Gaza, underscoring the necessity of joint coordination to maintain stability in the region and prevent the conflict from expanding.
Additionally, Prime Minister Al-Sudani and Secretary Austin delved into discussions regarding the presence of military advisors and international coalition teams combating terrorism in Iraq.
They emphasized the importance of supporting Iraqi security forces with advice and training, aiming to sustain the victories achieved against ISIS. The conversation, as outlined in the statement, reiterated Iraq's commitment to safeguarding military advisors and diplomatic missions operating within the country.
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 evening everyone hope all is well
Member: It's time for the Mark Z show with his golden egg crew
Member: Whats with all the stars on the map on your video thumbnail Mark?
MZ: That is all the places we are not supposed to travel right now. Think about that one.
MZ: Nader did find an interesting article today….you guys need to watch this on your own…..and like and subscribe. He is talking about the amount of money -85% of their money does not go through their banking system. They are pushing hard over this week in Iraq to get that money into the banking system
Member: Iraqis do not trust the banks……we do not trust the banks……The financial system needs to reset NOW!!!
MZ: Other than that it’s been very quiet. I reached out to some folks in Tier 1 and they guaranteed to me that the ball is not rolling yet….They are prepped and ready but it has not started…no matter what the rumors say. I spoke to some people that are key to this process and they say it has not started yet.
MZ: The groundwork is done but the trigger has not been pulled yet.
Member: When do you feel the dinar will revalue?
MZ: I think we are in the last few weeks of this thing. I do not think the world is going to survive much longer. Banks are imploding all around us. My gut says 2-3 days…or a week to a week in a half….but, I am waiting to get some confirmations on that. Real confirmations from high and credible sources.
MZ: I think some know what the timing is and are not talking because they are afraid of screwing it up. So are afraid of saying anything.
Member: Only 2 months left of this year…….something needs to happen and now.
Member: So now it could be weeks? What happened to anytime ?????
MZ: Anytime….Any minute…..this week …next week……they have put out so much misinformation to cloud this timing….noone knows the exact date.
Member: I pray it happens before the holidays.
Member: I pray it still happens in October
MZ: It’s going to be a complete surprise to all of us the moment it goes. I know we are all tired of hearing it is close.
Member: hey Mark I talked to Chase Bank they said they knew what I was talking about the exchange and that I would be the first customer they call
Member: Question: Do we have to have a Speaker of the House before we RV?
Member: Some say yes and some say no…..wish we knew.
Member: The whole world is between a Iraq & a hard place. Just like the Israelites at the Red Sea. we are exactly where God needs us to be. He's about to show up & show off! Let's go God’s perfect timing
Member: This movie has us conspiracy theorists looking like weirdos
Member: Remember: Noah was the original conspiracy theorist…then it rained.
Member: I would rather wear a tinfoil had then have blinders on.
Member: Stay strong folks…log off for a few days if needed as this event will not pass you by. Fundamentals are screaming something major about to break…when not if.
Member: Soooo ready for the most magnificent wealth transfer in history!!!…
Member: I feel like something really big, is about to happen. I'm beyond, stoked ! Hope you all have a wonderful evening,
Mod: AS WE WAIT FOR THE BLESSING TO HAPPEN.... PLEASE STAY ENCOURAGED...DON'T LET THIS DISCOURAGE YOU! IT IS STILL A “WHEN” NOT AN "IF" SO Don’t Give UP!!
Member: Thanks for all the Mods and Mark for being there for us
“THE INFO IN THIS PODCAST IS FOR GENERAL INFO & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
