Article quote: "There are no sanctions imposed on Iraq by the US Treasury but sometimes there is a tightening of standards..."
They say it twice today in different articles that there are no sanctions imposed on Iraq. If that's the case and the US Treasury gives the green light then, wow, we really have nothing holding us back...
Walkingstick
As we told you last week the CBI did some swapping of currency.
We believe that it's also part of the controlling of the American dollar. This swapping was done with 12 different countries. It causes us to wonder if this is the 12 that are going to be put in a basket. All of this was done not this Sunday but the Sunday before. Iraq is putting other currencies in their reserves as well.
Iraq Boosts Pensions Amid Financial and Social Challenges
In Iraq, a nation still healing from years of conflict and political instability, the government’s latest financial measures have stirred a mix of hope and skepticism among the population. The Ministry of Finance has recently announced an increase in pensions for both civilian and military retirees whose pensions fall below one million dinars. From November, these retirees will find an extra 100,000 dinars in their bank accounts, a gesture that mirrors Prime Minister’s commitment to supporting the retired population.
Delayed Payments and Unmet Promises
As the civilian retirees look forward to their increased pensions, the Kurdistan Regional Government (KRG) awaits a 700 billion Iraqi dinar package from Baghdad to cover public sector salaries. The agreement, however, is hanging by a thread. The promised funds are yet to arrive, and past delays have led to skepticism among the recipients. Earlier in September, the central government had sent 700 billion dinars to cover salary payments, but disagreements led to the cessation of the transfer. In response, the Iraqi government has now agreed to transfer a larger sum of 2.1 trillion dinars to cover the three months’ worth of unpaid salaries.
Education System Lacks Inclusivity
Amid these financial debates, a social issue silently simmers in Kurdistan. Schools in the region are reportedly hesitant to enroll children with autism, raising concerns about inclusivity and equal education opportunities. Despite the global push for inclusive education, the lack of provision and support for children with special needs in Kurdistan is a stark reminder of the systemic gaps that need to be addressed.
A Call for Effective Governance
These ongoing financial and social challenges underscore the importance of effective governance in Iraq. The nation is not only tasked with ensuring the timely disbursement of pensions and public sector salaries but also with fostering an inclusive education system. As Iraq navigates these issues, the focus rests on its ability to address the needs of its most vulnerable citizens – the retirees and individuals with disabilities. The steps it takes now will be crucial in shaping the nation’s journey towards stability and inclusivity.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ 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 and Welcome to November
Member: Another month gone….another month of hoping starts
Member: kinda lost hope but some feel something big is going to happen soon
Member: Never give in, never give up, never bow down.
Member: Well if the dollar is dead for purchase of oil … I’d say it’s imminent.
MZ: I agree
MZ: I have not heard from Iraqi sources in the sandbox yet today….I know they had high anticipation for the 1st. I was hoping to hear something by now.
MZ: This is an older article but its’s important……..”70% of Iraq’s imports comes from BRICS countries” This is key to how they operate and what’s important to them. Commodities are important and a lack of sanctions. Who do they work with day in and day out? - BRICS Nations.
MZ: “BRICS Bank is positioning itself alongside IMF and World Bank” This is a big one.
Member: if Iraq goes to BRICS could we miss out on the RV.?
Member: The rate would still be international….so imo-we won’t miss out…..imo….we would just exchange into fiat -not asset backed USN’s.
Member: I heard Iraq is applying to the WTO today. Presumably meeting over the next 3 days.
MZ: They have already applied….they have already been approved for ascension…but, it hasn’t happened….so these 3 days of meetings are very important.
Member: Don’t they have to change the rate before Iraq joins the WTO?
MZ: That’s what everyone says. This is assumed by almost everybody that Iraq will need to change their rate before they join the World Trade Organization. . .
MZ: “As of early next month (November-starting today..) Kurdistan adopts the Iraqi Dinar in the transactions of crossings and airports” This is more de-dollarization and its big news as it’s the Kurdistan region.
MZ: Here is another one that is putting pressure on this “re-valuation ” Amid war on Gaza –Egypt see highest exchange rate on US dollar in black market” So in the middle east the dollar is gaining and will cause regional issues and inflation. They are painting themselves in a corner without a reset. They need rate changes.
Member: (From Dinar Guru) Mnt Goat I...want to make it VERY, VERY clear to everyone that the IQD is NOT yet reinstated on FOREX...“NOT YET TRADING ON FOREX”. Yes, if you go to FOREX there is a benchmark rate for the IQD but it is a linked rate only, linked back to the CBI. It is a page holder. Yes, this is still a very good thing and I don’t want to down play it either...The IQD rate is there...only in preparation for the future. But there is not yet any trading ability to buy or sell.
MZ: That is spot on-dead on accurate.
Member: I keep thinking about how they made a budget for 2023, 24, 25...why would they go through that and not use it? Currency is safely stashed. It's all good
Member: Articles out saying they may close the US embassy in Iraq.
MZ: That doesn’t surprise me. What has the US done for the Iraqi people? I do not think we have handled things like we should have due to corruption or ineptness.
Member: I think it will happen in January.
MZ: I feel it will be much sooner….so much happening now and all at one time.
Member: Excited to see Frank this evening he said no suit he will be standing and it will be about ten mins long
Member: MM says they need to go now because they have a goal to be 100% off US$ by Jan 1.
Member: Militia Man thinks around Nov 4-7
Member: WOLVIE spoke with bank manager in Sydney and they confirmed they were basel 3 &4 compliant and confirmed RV whispers and asked how he knew so much ???
Member: I went to my bank's ATM last night and there is a note on it saying only $20 bills are available until further notice. Interesting. Also -it's a new ATM, just installed over the last week. NV
Member: This has always been waiting on the whole shibang!….we are right on target. This is obviously a master story plan, that the whole world is living through..
MZ: I agree:
Member: Who are the 5 people who know when the RV will happen?
MZ: Well the obvious one is the “Golden Dragon” and we know he is one of them. We assume one is the person we know as “Frenchie” who is responsible for a whole lot of this and logistics. Another runs banking …so I can identify 3 of them and have spoken with 2 out of that 3 in the past .
Member: I believe things did happen last night behind the scenes and we can’t see it yet.
MZ: That is possible
Member: Who and why is this being dragged out?
Member: That Dinar rate can change in a blink of an eye ! Any minute any second
Member: Thanks to all……see you tonight where we hope to hear big news.
Member: Thank you Mark for your continued efforts you provide to encourage us.
Andy Schectman from Miles Franklin joins the stream today. Please listen to the replay for his opinions and 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.
A Sudanese And An Iranian Minister Discuss The Use Of The Two Countries' National Currencies In Trade And Financial Transfers
Political | 01:32 - 10/31/2023 Baghdad - Mawazine News Prime Minister Muhammad Shiaa Al-Sudani affirmed, on Tuesday, Iraq's readiness to open horizons for bilateral cooperation in the field of petrochemical and fertilizer industries.
The Prime Minister’s Media Office said in a statement received by Mawazine News, “Prime Minister Muhammad Shiaa Al-Sudani received, today, the Minister of Industry, Mines and Trade of the Islamic Republic of Iran, Abbas Aliabadi,” noting that “during the meeting, economic relations between the two countries were discussed.” And ways to enhance it and strengthen exchange and partnership at various levels and fields.”
He added, "The meeting witnessed discussion of the possibility of moving towards using the national currencies of the two countries in trade exchange and bilateral financial transfers, in order to have more flexibility in dealing, for the benefit of both countries."
The Prime Minister affirmed "Iraq's readiness to open horizons for bilateral cooperation in the field of petrochemical and fertilizer industries, because of their strong impact in promoting internal development."
For his part, the Iranian Minister conveyed the greetings of the President of the Islamic Republic of Iran, Ebrahim Raisi, and his emphasis on the necessity of proceeding with fruitful economic integration projects, in the face of the economic challenges witnessed by the region and the world.
I...want to make it VERY, VERY clear to everyone that the IQD is NOT yet reinstated on FOREX...“NOT YET TRADING ON FOREX”. Yes, if you go to FOREX there is a benchmark rate for the IQD but it is a linked rate only, linked back to the CBI. It is a page holder
. Yes, this is still a very good thing and I don’t want to down play it either...The IQD rate is there...only in preparation for the future.
But there is not yet any trading ability to buy or sell.
Article: "NEW STATEMENT FROM OIL ON THE DRAFT OIL AND GAS LAW" Quote: “the government is committed to approving this law.”
Within the current government session, and it is also within the government curriculum.” This is of course excellent news for us...
Parliamentary Warnings About The Consequences Of The Decline In The Value Of The Iraqi Dinar
Information/Baghdad.. On Wednesday, the representative of the Kurdistan Democratic Party, Sharif Suleiman, warned of the consequences of the continuing rapid decline in the value of the Iraqi dinar against the dollar, while calling on the government to adopt a new reform package to stabilize the value of the Iraqi dinar.
Suleiman said in an interview with the Maalouma Agency, “The value of the Iraqi dinar witnessed a noticeable decline against the US dollar during the past days.”
He added, "It is the responsibility of the government and the central bank to take quick measures to preserve the value of the Iraqi dinar as it affects people's pensions and the Iraqi market."
He pointed out that "the procedures followed by the government and the Central Bank are below the required level," calling on the Central Bank to "take new steps to address the crisis of the decline in the value of the Iraqi dinar."
Independent MP Raed al-Maliki confirmed the failure of the government and the central bank to control the dollar against the Iraqi dinar. Ended / 25 h LINK
