Evening News with MarkZ. 11/02/2023

Thursday Evening News with MarkZ 

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: Welcome to Thursday night …Hope everyone enjoyed your day. 

Member: Hearing anything good today Mark?

MZ: I am hearing some very fun and interesting stuff that is telling me things are well underway, and we will see the manifestation of it very soon. 

MZ: I continue to get news from the middle east that things are already done  and we are waiting for it to implement.  Back in the days when Kuwait went –they kept it under wraps for about 10 days. I don’t know if they can hide it that long in today’s world. But they continue to tell me they expect notifications soon

MZ: I am not getting a response from my Group leaders over here ( and many had traveled over the weekend)  and Historic Bond  folks are still very quiet. They still have expectations of paydays on Nov. 4th.

MZ: We have a lot to look forward to and hopefully it comes to fruition. 

Member: What does your gut say right now. 

MZ: My gut is still screaming that sometimes in the next few days or week we will be across the finish line. …my analytical mind looking at documents , governments and articles say we will have it by Jan 1st. 

Member: TNT Tony just posted that he just bought a couple of bottles of champagne for tonight/morning and hopes we're ready!! 

Member: Mt. Goat My contact from the CBI has told me…that January 2024 is their target and is the best most opportune time to reinstate the dinar.

Member: Mark, did you come back to the states to exchange?

MZ: Every time I come back I am hopeful that it will RV. 

Member: Mark, If the petrodollar is dead or dying ,how can we get a higher exchange rate? Most countries are running from our fiat dollars.  

MZ: Yes, but with the reset they will go to asset backed dollars. So when fiat dies we go to our asset backed dollars .

Member: MarkZ a family member used to work for HSBC confirmed QFS…. It’s just a matter of time

Member: Will the Zim be only for humanity or can we split it?

MZ: I have been told the amount you get to keep personally is between 40-50 million dollars per 100T note. If you have a project you can more for the project. That is my expectation for the Zim

Member: any news about the Iranian Rial?

MZ: I still hear it will be in the first basket, and should be about 20-30% less than the rate the Iraqi Dinar comes out at. 

Member: how will I exchange if I have to go in for open heart surgery which is due in a couple days

MZ: Don’t Panic.  I am told you will have at least 10 days to set an appointment …Then you will have a month or two to exchange. I am also told that if you are in a bad way and cannot get to them….they will come to you…..but don’t abuse this folks. 

Member: Did you hear that Sherlock Holmes got audited by the IRS? He had too many deductions.

MZ: Normal podcast tomorrow morning….no podcast tomorrow night. 

Member: Thank you everyone and God bless

THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARK’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

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Iraqi dinar 🔥Iraqi dinar RV benchmark rates on forex today 🔥 Iraqi dinar...

"RV UPDATE" BY PIMPY, 2 NOV

  Pimpy 

  Article:   "As of the beginning of next month, Kurdistan will adopt the Iraqi dinar in crossings and airport transactions"  This is what I was talking about - Steps towards straightening the Iraqi dinar...This is a major move.  This is awesome.  This is great for the Iraqi dinar.  This helps strengthen the Iraqi dinar..

 In all fairness Iraq has managed to stay out of the crap that's going on over there despite calls by Sadr to get involved...

As I watch the markets and read more and more about what's going on in Iraq it's really starting to look inevitable that Iraq has to do something with the exchange rate.  This gap between the parallel market and the fixed market is starting to get really out of control.  We know Al-Sudani made an announcement that he was going to take some steps to close this gap. 

 Now Al-Sudani is coming over here to the White House to speak to Biden....I'm curious to see if the Biden Administration is going to do anything to help Iraq in their situation.  He could help flood their country with US dollars and the dollar would lose value and the Iraqi dinar would gain value.  Or they could just turn around and increase the exchange rate.

Iraq-Kurdistan Tensions Expose Fragile State of Nation’s Economy, 2 NOV

Iraq-Kurdistan Tensions Expose Fragile State of Nation’s Economy

In the heartland of Mesopotamia, where the Tigris and Euphrates rivers gave birth to some of the world’s first civilizations, modern-day governance continues its fragile dance. Amidst the economic and political tensions that have become the leitmotif of Iraq’s post-Saddam era, the latest act unfolds between the Federal Government of Iraq and the Kurdistan Regional Government (KRG). The plot: a delayed payment of 450 billion dinars to the Kurdistan Region’s bank account for the salaries of government employees.

A Dissonant Interlude

The KRG, which shoulders the responsibility of reimbursing public sector employees in the region, has long awaited a package of 700 billion Iraqi dinars from Baghdad. This recurrent delay in payments strikes a discordant note, undermining previous agreements crafted between the regional and central governments. The frustration is palpable, echoing through the corridors of power in Erbil, the capital of the Kurdistan Region.

In a previous attempt at harmony, the central government had dispatched 700 billion dinars to Erbil in September to cover salary payments. But, disputes between Erbil and Baghdad disrupted the financial symphony, halting the transfer. The encore: an agreement by the Iraqi government to transfer 2.1 trillion dinars to the Kurdistan Region to cover three months’ worth of unpaid salaries.

(Read Also: US Destroyer and Canadian Frigate Conduct Joint Transit of Taiwan Strait for the Third Time Since June)

Declining Dinar: A Crescendo of Concern

Superimposed on the salary delay discord is the concern over the depreciating value of the Iraqi dinar against the US dollar. The implications reverberate beyond the government and employees, affecting everyday life. Pensions are dwindling, the Iraqi market is trembling, and the public’s faith in the government and the central bank is eroding.

Some parliamentarians have sounded the alarm, calling for novel measures to stabilize the currency. A rapid decline in the value of the dinar in recent days has provoked criticism of the government and the central bank’s lackluster response to control the exchange rate.

The Banking System: A Fugue of Mistrust

A crucial element in resolving the currency crisis is restoring public confidence in the banking system. An estimated 85% of the issued monetary mass in Iraq currently resides outside the banking system, with people hoarding money outside of banks. The impact is profound: it hampers the role of banks in driving economic development through their lending policies.

(Read Also: Rafah Border Crossing Reopens: A Ray of Hope Amid Gaza’s Humanitarian Crisis)

The Central Bank has issued a circular urging banks to simplify procedures and create incentives to attract depositors. However, this initiative faces a formidable obstacle – the overarching lack of trust in the banking system. Overcoming this skepticism is fundamental to encouraging people to deposit their money in banks.

One potential solution lies with the Deposit Insurance Company, established to guarantee public deposits in the event of a bank collapse. The company needs to enhance its performance, actively market its activity, provide guarantees to depositors, and distribute official papers explaining the deposit insurance policy.

Simultaneously, the fluctuation of the dollar exchange rate needs to be addressed. Stability is key to reducing chaos and mistrust.

Long-term Harmonics: Local Production and Twin Policies

For a long-term resolution, experts recommend supporting local production to reduce the demand for the dollar for import purposes. They also suggest creating a clear map of the relationship between the demand for hard currency and the capacity for increasing local production to cover these demands. This involves understanding import destinations and harnessing opportunities for local growth. Furthermore, aligning monetary policy with fiscal policy can control commodity prices and financial transfers, providing a stable rhythm to Iraq’s economic symphony.

In conclusion, the ongoing economic and political tensions between Baghdad and Erbil have resulted in delays in salary payments for government employees in the Kurdistan Region. The declining value of the Iraqi dinar against the US dollar further complicates the economic landscape. Stabilizing the economy and improving the value of the currency requires a symphony of measures, from restoring public confidence in the banking system to implementing long-term strategies that support local production.

https://bnn.network/breaking-news/economy/iraq-kurdistan-tensions-expose-fragile-state-of-nations-economy/

Delayed Salaries in Iraqi Kurdistan: A Crisis of Confidence, 2 NOV

 Delayed Salaries in Iraqi Kurdistan: A Crisis of Confidence

As the sun begins to rise in the Kurdistan Region of Iraq, the day holds a familiar uncertainty for the thousands of government employees in the region. A new month brings forth the same old question – will they receive their salaries on time? The Ministry of Finance, which recently declared that it would commence the distribution of monthly salaries from the first six days of each month, has been grappling with this issue for several months now.

A Recurring Delay

Initially, the salaries were delayed for eight months, and then it was extended to 37 days. The second payment for the month of August, which was supposed to be paid on time, has not yet been disbursed. The Ministry of Finance has stated that the delay is due to the lack of funds and the government’s inability to transfer the salaries. This situation has sparked frustration among government employees who rely on these salaries to meet their daily expenses.

From Social Media to Parliament

The collective voice of discontent has reverberated across the vast digital landscape of social media platforms and echoed within the hallowed halls of the parliament. Many employees have expressed their concerns about the financial difficulties they are facing due to the delay in salary payments. Members of parliament and local officials have also criticised the delay, describing it as a failure of the regional government.

Loans and Financial Constraints

Addressing the issue, the Ministry of Finance announced it would borrow 250 billion dinars each from the Rafidain Bank and the Rashid Bank to cover the salary payments. However, this amount is insufficient to cover the salaries of all government employees. The ministry has also mentioned that it is grappling with financial constraints, which prevent it from paying the salaries on time.

Impact on Livelihoods and the Economy

The delay in salary payments has had a significant impact on the daily lives of government employees in the Kurdistan Region. Many are struggling to pay their bills and provide for their families. Some have even resorted to borrowing money or selling their personal belongings to make ends meet. This situation has not only created a sense of uncertainty and frustration among the employees but has also had a negative impact on the local economy. With government employees struggling to meet their financial obligations, consumer spending has decreased, leading to a slowdown in economic activity.

Looking Ahead

The delay in salary payments is a stark reminder of the financial challenges facing the Kurdistan Region’s government. It highlights the need for immediate action to resolve the salary payment issue and ensure the well-being of its employees. More than just a question of financial mismanagement, it is a call to action for the government to reassess its priorities and put the well-being of its employees at the forefront. The future stability of the region lies in the balance, hinging on the government’s ability to resolve this issue and restore faith among its employees.

https://bnn.network/finance-nav/delayed-salaries-in-iraqi-kurdistan-a-crisis-of-confidence/

The End of Petrodollars: China's Groundbreaking Crude Oil Purchase with ...

"RV UPDATE" BY MNT GOAT, 2 NOV

 Mnt Goat  

 My contact from the CBI has told me...that January 2024 is their target and is the best most opportune time to reinstate the dinar.  In my last conversation with my contact I was toldthey were given the green light to begin the re-education criteria to teach the citizens about the newer lower denominations and how the conversion back to the lower denominations as they had before 2004 is going to take place...I am still being very hopeful for a January 2024 reinstatement...

 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...