[via PDK] News from Iraq continues to be very positive...The majority of my Iraqi contacts believe we will see RV somewhere between now and the first. Remember that none us of know for certain what the timing is. I’m just telling you what they are feeling and hearing from inside their own country. These people are in banking and government.
There is a lot of repetition in the news… We have shared many articles over the last few days/weeks on improvements in the banking system in Iraq…. Articles about how they have secured their borders…how they are attracting more money into the banks…(85% of the dinar is outside the banking system in Iraq) and they are trying to make their banking system more attractive. I do not think this will be successful until there is a value change in the dinar.Why put it in the banks when it’s not worth much?
While digging for news on timing…all I am getting is circle-tel. Some of my better sources keep telling me “soon”...not yet, but extremely soon...There is so much disinformation right now to keep the timing clouded...stay calm…Yes sources say its soon…far closer than we think...
Minister: Iraq opens up for Green Investments with $100 million budget
Shafaq News/ Iraq's Minister of Environment, Nazar Amedi, on Thursday reiterated the country's commitment to sustainable green economy investments, with a transformational target of $100 billion by 2035.Speaking at the Arab ministerial meeting, Minister Amedi stressed the importance of supporting Iraq's ambitions for this economic shift and attracting foreign investments.
He called for national and international collaboration, emphasizing "the need for coordination and the allocation of the required funds from international or national funds to ensure the high-level implementation of the Ministry of Environment's strategies, priorities, and projects related to the green and sustainable economy, and climate change mitigation."
Minister Amedi said that" the government's strategy prioritizes environmental, climate, and water concerns, with ongoing efforts across sectors to address these issues and develop necessary adaptation measures."
The Minister announced that the Ministry of Environment has finalized a new environmental strategy for 2023-2030." This comprehensive strategy aims to enhance Iraq's environment while considering regional challenges arising from climate impacts and water scarcity." "It also supports the gradual transition to a green economy that complements the current economy based on fossil fuels," he said. Amedi said that Iraq is "open up to green economy investments, with a targeted transformation amounting to $100 billion by 2030 and 2035." "The budget includes items to support environmental improvement. The ultimate goal is to stimulate a billion-dollar project for comprehensive environmental enhancement and the growth of Iraq's green economy."
Warning That Iraqi Funds Remain With The US Federal Bank - Urgent
Economy |Today Baghdad today - Baghdad Today, Thursday (October 26, 2023), economic expert Saleh Al-Sarfi warned of the consequences of Iraqi funds remaining with the US Federal Bank, noting that their presence may constitute a tool of pressure exerted by Washington on Baghdad.
The banker said in an interview with "Baghdad Today", "All Iraqi oil funds are deposited directly in a special account in the US Federal Bank, and Baghdad is submitting a request to obtain the funds to cover operational expenses and the rest of the other obligations," pointing out that "this procedure is not recent, but has been adopted." During the economic blockade in the nineties of the last century after the application of the oil-for-food principle.
He added, "Washington's excuses for keeping Iraq's funds under its control at the Federal Reserve are due to the state of political instability and the consideration that the country is going through complex and unstable circumstances, in addition to protecting the funds from a large number of cases filed against Baghdad as a result of previous wars."
He pointed out that "there are risks from Iraqi funds remaining in the US Federal Reserve, most notably the direct impact of any crisis that strikes the American economy, in addition to it being considered a pressure tool that Washington can exert towards Baghdad."
On October 6, Washington rejected Iraq's request to obtain one billion dollars in cash from the Federal Reserve Bank, under the pretext that it conflicts with their efforts to curb Baghdad's use of the dollar and stop illicit cash flows to Iran.
The American Wall Street Journal reported that since the American invasion of Iraq two decades ago, the United States has provided $10 billion or more annually to Baghdad via bi-monthly cargo flights, and the money is derived from the proceeds of Iraqi oil sales deposited with the Federal Reserve Bank.
American officials said, "Banknotes in the hands of Iraqis have become a lucrative source of illicit dollars that go back to militias and corrupt politicians, as well as to Iran."
By applying for an additional $1 billion shipment, Iraq says it needs the money to help prop up its faltering currency. A senior Iraqi official explained that "last week, the Central Bank of Iraq submitted an official request that the Treasury Ministry is still studying, after Washington rejected the initial request submitted by Iraq last month."
According to the newspaper, since last November, Washington has prevented 18 Iraqi banks from dealing in dollars, adopting stricter rules for electronic transfers in dollars from its banks.
Treasury officials told Iraqi central bank governors that sending a large additional shipment conflicts with Washington's goal of limiting Iraq's use of US banknotes, Iraqi officials said.
American officials spoke of conclusive evidence that some of the dollars that were arriving in Iraq were smuggled in cash over the years to Iran, as well as to Turkey, Lebanon, Syria and Jordan.
A Treasury Department spokeswoman said regarding the Iraqi request, “The United States continues to support Iraq with dollar banknotes and has not restricted its access to ordinary Iraqis and businesses,” indicating continued work with the Central Bank of Iraq. LINK
...We have been told in just a recent article that the CBI is attempting to accomplish in 1 year in 2023 what should normally take 6 years. I am talking about the full Dr Shabibi plan and the process of how to conduct the de-dollarization, then the project to delete the zeros and to get back on FOREX. We can see it playing out...
...I know for a FACT that the rate of 1/6 of a penny is a “suppressed” rate and being “artificially manipulated”.
Just with all the assets Iraq now has without any banking reforms or any other economic development, the rate should be at least what it was prior to the 1991 invasion and the 10 year boycott plus even more...
Pimpy
I think over the next few years you'll start to see the Iraqi dinar slowly increase in value little by little. It's hard to talk about where the dinar is going to be just because the United States isn't going to let those resources go and Iraq can't stop getting in trouble - at least that's what we're told...
Iraq continues to move forward to do what they can for the Iraqi people, improving more on the banking sector, trying to find ways to make their economy stronger but these conflicts are causing huge delays and huge issues in Iraq and we don't need that at this time.
The Major Problem Has Not Yet Been Resolved. The Oil And Gas Law Is Still Locked Up And Has Not Yet Reached Parliament
Time: 10/26/2023 Read: 130 times {Economic: Al-Furat News} Member of the Parliamentary Oil, Gas and Natural Resources Committee, Adnan Al-Jabri, confirmed today, Thursday, that the oil and gas law is still under the Cabinet’s agenda and has not yet reached the House of Representatives to vote on it.
Since the first session of the House of Representatives, in 2005, the draft oil and gas law has been stuck in drawers, as disagreements prevent its approval in its final form.
Al-Jabri told {Al-Furat News}: “The oil and gas law is still on the list of the Council of Ministers and has not yet reached Parliament, but there is follow-up from specialized committees formed by the Council of Ministers.”
He added: "When the law reaches Parliament, it will be given a first reading and then it will be discussed and studied by the committee to be presented for a second reading."
He pointed out that "it is not possible to talk about transferring the project because it has not yet reached the House of Representatives and the Cabinet committees are discussing it in the presence of the governorates responsible for writing up the draft law and voting on it in the Council of Ministers and then sending it to Parliament."
Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the state’s treasury resources.
The draft oil and gas law in Iraq available to Parliament stipulates that responsibility for managing the country's oil fields must be entrusted to a national oil company, and supervised by a federal council specialized in this subject.
Prime Minister Muhammad Shiaa Al-Sudani said, in early last August, that “the draft oil and gas law is one of the basic and important laws, representing a factor of strength and unity for Iraq, and it has been stuck for years, at a time when the country today is in dire need of its legislation and to benefit from this natural wealth, in "All fields and sectors, in addition to the contribution of the legislation to solving many outstanding problems."
He explained that "there are governorates whose wealth has not been invested to date, which is considered negative for development endeavors in all their paths," according to a report by the "INA" agency.
The dispute over the issue of oil has been a major source of tension between Baghdad and Erbil for years. Last year, the matter reached the judiciary, as Erbil believed that the central government was seeking to seize control of the region’s wealth, according to an Agence France-Presse report.
In February 2022, the Federal Court in Baghdad ordered the region to deliver the oil produced on its lands to Baghdad, and to cancel contracts the region had signed with foreign companies.
The matter reached the point where the judiciary in Baghdad invalidated contracts with many foreign companies, especially American and Canadian companies.
A temporary agreement signed between Baghdad and Erbil in early April stipulates that Kurdistan oil sales will be made through the Iraqi Oil Marketing Company “SOMO,” while revenues generated from the region’s fields will be deposited in a bank account with the Central Bank of Iraq or one of the banks approved by the Central Bank of Iraq. From: Raghad Dahham LINK
MarkZ Thursday 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 morning Mark Z, mods and everyone.
Member: I pray today is the BEST day of the rest of your life!!
Member: Are we there yet??? Asking for a friend!
MZ: Well RV news is quiet but, Sweden’s central bank needs a bail out.
MZ: Iraq has a lot of banking news…..they are getting money in the banking system…building exchange centers…..I assume you don’t need to hear it over and over again.
Member: We need to hear that the RV is real and they are working on it .
MZ: My sources in Iraq are still expecting it by the first……so sometime over the next 5-6 days. I hope they are accurate. I am tired….you all are tired.
Member: Hey Mark what does your gut tell you on timing??
MZ: My gut says we are about a week out.
MZ: Group leaders have cracked down on leaks. If you are hearing something out there from a group right now….somebody messed up and probably will not be allowed to exchange. …They have gotten very good at squashing any leaks….
MZ: In the bond side the only leaks I have found are small ones in the Zurich area, The rest of the world …Hong Kong…the US…they have really shut every leak down. While its frustrating for you guys it’s a good thing. It tells us how close we are….
MZ: They would not be shutting everyone up…just let the wild speculation run if we were far away.
Member: Frank said Iraq traded currency with 12 countries. They wouldn't do that if they were not going to have a new rate.
Member: Have you seen 'Rapid Updates' article reports as to the Iraqi governments surrender the dinar to market forces for the value of the dinar? Maybe this the dreaded float that you've spoken of?
MZ: This is important as there is a failing Central bank that needs a bail out. “Worlds oldest central bank seeking $7 Billion bailout after massive bond losses.” This is Sweden’s Central bank. They are asking for the minimum bare level amount they need to operate. This is a shot of adrenaline to the heart to keep it beating.
MZ: We have been waiting for these things to happen. It’s a temporary way to stay afloat before you drown. The fiat system is imploding.
Member: mark, friend of mine asked me about how Kuwait dinar got RV'd. Is there some good source I can send him to read about?
/member: I believe it was on 1991……might want to google it
Member: Hi Mark, I hearing the great pumpkin will not happen this year! Could be the crash and the black swan event!
Member: Watch BO Polney. Is saying possible stock crash Monday!
Member: Historically many stock market crashes happened in October.
Member: I sure pray the RV will happen before Christmas….
Member: I bet we start hearing soon that the PTB want us to have a good Black Friday this year….heard it for over 10 years
Member: Thanks Mark and mods…….have a blessed day everyone.
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