There's so many things happening...We got elections coming up here soon. Al-Sudani has been taking many good steps to warrant an opportunity to be the Prime Minister once again but if he doesn't control that currency it'll destabilize the economy as well as the currency itself and this is not going to go over very well with the people of Iraq.
If he increases the value of the Iraqi dinar that gives the people of Iraq a little bit more purchasing power at the same time stabilizing the currency and hopefully closing the gap between the fixed exchange rate versus the parallel rate.
Two more months until the end of the year. Is Iraq going be able to tough it out with this currency exchange rate for two months? As long as the market doesn't get any more out of whack than it is, we'll see. IMO they should do something with the exchange rate a little bit to help this situation.
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..
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: Happy Friday everyone!
Member: Hoping something wonderful happens today!
Member: hey Matk …whats on your Radar and the Rumor Mill?
MZ: Some interesting news coming out of the bond side. From a couple of bond sources……and I had another confirmation that Chinese Elders are upset with the bond process and they are going to go ahead and pay 1% of the bond payments in fiat right now. Then they want the reset and pay the rest in gold/asset backed money.
MZ: Originally (as I understand it) They were going to pay the fines and penalties in fiat…then RV ….then Reset….then pay the rest in gold backed money. All of this in about a 10 day period.
MZ: I don’t know how this affects our timing or not. But, its good news to hear that they have done all their work on compliance on all the Historic bonds and are ready to issue payments. But that is the chatter I am hearing from the bond people who will talk. And there are not many that will talk.
MZ: A number of group leaders that have been in place since last week think this is it. .
MZ: Bankers are really stoked and excited for this weekend.
MZ: No news on CMKX….yet. It’s been very quiet. They still update fines and penalties twice a month.
MZ: Pretty quiet in Iraq as of this morning.
Member: Fridays are Iraq’s Holy days……usually are quieter.
MZ: Just be sure to manage your expectations until we cross the finish line.
MZ: This is a good one from the American Media Group: “The changing of the guard: 21 major countries are refusing to use the US dollar for oil transactions” This is the deterioration and the death of the Petroddollar.
MZ: “Exclusive: Swiss authorities –Banks mull new rules to prevent bankruns-Source” This tells you where their concerns are right now. So if you want to take our your money from the banks…they will limit the amounts you can withdraw to prevent bank runs. Its obvious Swiss authorities think there is a high possibility of bank runs. This is a big one to watch.
Member: Thanks Mark and Mr.C…..Everyone have a great weekend.
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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.
Economic 11/01/2023 Yasser Al-Metwally Official estimates indicate that 85 percent of the issued monetary mass, amounting to more than 100 trillion dinars, is outside the banking system and is called money hoarded outside banks.
This means that this huge amount of monetary mass is disabled from performing its role in development, and since the banks are the driving tool for the wheel of development through their credit (lending) policies, they are unable to perform this role for this reason. Therefore, you find our economy unable to advance due to the decline in the development performance of the banks..
Meanwhile, monetary policy is moving towards motivating the depositor public to deal with banks.
The Central Bank’s latest circular last week urged banks to facilitate procedures and create incentives at attractive interest rates for the purpose of attracting depositors.
What Is The Challenge Facing This Trend?
The trust factor is the most difficult number and the basic indicator for the success of the process of attracting the public’s hoarded funds to deposit them in banks.
Banks in all countries of the developed world are the primary engine of the economy through their role in implementing development through their lending policies that contribute to generating interest that accrues to depositors and bank owners with lucrative profits by investing money and making profits.
They also contribute to the implementation of projects and thus contribute to the circulation of funds.
But the problem with Iraqi banks, in all frankness and transparency, is that they suffer from a loss of public confidence, which is a deep-rooted, inherited problem due to the actions of some banks due to the weakness of their management and the alienation of depositors from them.
How Do We Restore Confidence In Light Of The New Trend?
The public is looking for a guarantee (an insurance policy) in order to be encouraged to deposit their hoards, and this requires facilitating deposits and withdrawals in an easy way without boring routine complications.
However, the poor banking behavior of some employees and the complexities of police-style instructions contribute to the public’s reluctance.< /span>
(Insurance policy) means the body that officially guarantees the public’s deposits in the event of the collapse of a particular bank, and here comes the role of the Deposit Insurance Company, which was recently established for this purpose.
Here I have an assessment of the Deposit Insurance Company, with all transparency and clarity, that its performance is weak, inactive, and unknown, and it requires the formation of a regular and influential media unit to market its activity on an ongoing basis,
and for the company to take the initiative to give guarantees to depositors by guaranteeing their money with a signed official paper distributed among all depositors in any bank, in light of which it bears responsibility. Legal information about deposit insurance, otherwise why was it established?
Thus, it can provide partial security that encourages the public to deposit in banks and gradually restore confidence.
The fluctuation of the dollar exchange rate cannot be overlooked in creating chaos and mistrust.
But we are talking about the national currency, which is still strong, and there is no problem in depositing and withdrawing it with the company’s guarantee. https://alsabaah.iq/86507-.html
Welcome to November! 😊 Let’s see what this month will bring us.
No the IQD has not yet revalued to what we want and the newer lower denominations are not yet in the ATMs. The IQD is no yet trading on FOREX. I can assure you of these FACTS with 1000% accuracy. So, stop listening to all these clowns out there spreading unverified rumors.
There is not much new news to bring today. The government is watching very closely two sectors today. One is the war between the proxy Iranian Hamas fighters vs the Israeli army in the Gaza strip. An article in today’s news describes the possible impacts of this war on Iraq but not yet.
Also in the news is yet more de-dollarization efforts as they convert the remaining of the border crossing stations all to “all dinars” only for custom fees. The Parliamentary Finance Committee renewed on Tuesday, its support for the Central Bank’s measures to control the exchange rate and address any obstacles. Remember in my last Newsletter dated 10/31 that we learned that the new government of Al-Sudani made promises in his administrations curriculum to bring back the dinar stronger than the dollar. Is this why he has openly in public stated the dinar is already stronger than the dollar? Well then….. where is it? As investors we wait for it.
We can see many events in-line with January 2024. I want to bring you up to date on my latest conversation with my CBI contact as of this past Wednesday, yesterday. It was told to me that the re-education campaign is still going forward but not yet rolled out as of yet. There is talk in the CBI it may be postponed due to the Gaza strip conflict, but no action or direction has been given to signify this as of yet. I think they, like us, are holding our breath and praying his conflict will be short-lived and not the beginning of the huge middle eastern drag our war engulfing many other countries.
I can tell you for a FACT the plan of the globalist deep state is to start a global war WWIII. But if we are diligent in our prayer, God will circumvent their plans and peace will come. So, just when we keep thinking it can’t get any worst look what happens. They perpetrate yet another crisis on us. Did this war surprise you. We knew something BIG was coming. So be prepared for yet another BIG surprise as the elections get closer in the U.S. Folks, remember these events don’t just happen. They have to be well planned out and financed.
Stop thinking that we are just victims. We all really have much more control over these bastards than we think but we must be strong, be united and not give in to them. We must support those politicians in the government who want to clean up this corruption we are seeing exposed. This has been going on too long already with puppet presidents being placed in power for decades already to accept the globalist ideology and perpetrate it on us with new rules and laws. They say they represent the people but how can you if you don’t even allow the people to know what is going on behind the schemes in these back-door, closed conference room meetings?
Also we must remember as we have witnessed in the 2020 election that they are literally stealing our elections and this is how we get a gamut of crooked politicians like the squad, Fetterman, Katie Hobbs, Adam Schiff, Liz Cheney and many others. This is not about Democrats versus Republicans but rather good versus evil if we truly want to save our nation. WE can clearly see corruption and status quo from both sides of the isle.
We must use the power of in our government and with the help of GOD in our prayers we can overturn this corruption. Remember also what the prophets are telling us. They are saying that, as bad as it seems, just stay focused on God, and pray. Do not focus on FEAR of what might happen but rather what is today and what you want tomorrow.
The Lord is telling us things will get much better as time progresses. Did you think these evil people in their plot to destroy America and the free-world are just going to lay down and let us expose them and bring them to justice? They too will fight to the very end to keep the corruption schemes, bribery money and corporate influence over our lives. They will fight until the noose is around their neck.
This Month...The Central Bank Launches The Financial Sustainability Map
The second and third 11/02/2023 Baghdad: Rula Wathiq This month, the Central Bank launches a financial sustainability map in cooperation with international institutions.
Bank Governor Ali Al-Alaq told Al-Sabah:
The map, which is based on financial sustainability, was designed to manage environmental and social risks, noting that it will clarify the directions that the bank will take related to the awareness and educational aspect, as well as risk management and sustainable financing. He pointed out that
the map will support financial inclusion, including the Bank’s initiatives in supporting small and medium enterprises that are being adapted or pushed towards being consistent with what we aspire to, taking into account the environmental and social aspects, pointing out that
Iraq can address the backwardness of industry, agriculture, and the economy by developing them according to modern foundations and standards using methods.
Which leads to achieving this purpose. Al-Alaq pointed out that the factors for regulating trade are not achieved with the diversification of the economy and the provision and support of projects that operate within this framework, with the presence of chaos in them and the lack of control over this large activity that is drowning the country, undermining the opportunities for growth and development, and expanding the production base in a large and frightening manner, in addition to the fact that it introduces a lot of Goods that lack many health and environmental specifications and standards.
He added that financing is a complementary link when appropriate conditions are available, as happened with the launch of an initiative to lend for the use of clean energy, especially at the household level in the use of solar cells, indicating that we do not find any interest in this initiative, which forces us to review other factors related to the awareness process, as The vast majority of citizens do not have an adequate understanding of the benefits these cells bring on the personal and environmental levels.
