An economist warns about expanding electronic payment services: Do not be eager to solve these matters
An economist warns about expanding electronic payment services - Do not be eager to solve these mattersEconomic researcher Ziad Al-Hashemi confirmed on Thursday that expanding electronic payment services will provide a “partial solution” to the monetary problem in Iraq.
Al-Hashemi said in a post on the “X” platform, followed by “ Jarida ”, that “the new government measures to activate electronic payment services on a large scale are a step that will provide (a partial solution) to the monetary problem in Iraq, and we are awaiting other real solutions to address the rest of the chronic problems.”
He added, “But we should not expect electronic payment operations to solve the problem of rising exchange rates as a result of the leakage of the dollar from the economy to finance trade and illicit operations and support penalized economies.”
He explained, “This serious problem requires (political boldness) and (rigidity in decision-making) to solve, which it is clear so far that the Iraqi official system lacks and does not have any of its tools.”
Global News Roundup: From Middle East Politics to Global Oil Dynamics
In a rapidly spinning globe, news from every corner unfurls every moment. Here’s a snapshot of recent global events in under 60 seconds.
Pulse of the Middle East
The Middle East, a region often synonymous with political and social turmoil, has witnessed a flurry of events of late. The United Arab Emirates (UAE) made a tax decision favoring businesses in its free zones, a move that could stimulate economic activity amid pandemic-induced slowdowns. In another development, the Lebanese Prime Minister has declared the cessation of the war in Gaza and ending attacks on Lebanon as his top priority, echoing the sentiments of a region yearning for peace. Adding a historical dimension to the current affairs, the discovery of a 3500-year-old papyrus in Egypt has stirred excitement among archaeologists and history enthusiasts alike.
The War in Gaza
The escalating conflict in Gaza between Israel and Hamas continues to dominate headlines. The war’s toll on civilians and the increasing humanitarian concerns have sparked international outcry, underscoring the urgent need for a resolution.
Global Oil Dynamics
On the economic front, Iraq surpasses Saudi Arabia to become the third-largest oil exporter to the United States, signaling a significant shift in global oil dynamics. The implications of this development extend beyond the two countries, potentially affecting global oil prices and energy policies.
News from the United States
Stateside, domestic issues continue to make waves. Gun violence, protests, and economic updates compete for headlines, reflecting the multifaceted challenges facing the country.
The Environment and Entertainment
From climate change’s impact on Texas’s bat populations to the potential hazards of brominated vegetable oil, environmental concerns are gaining momentum. Meanwhile, in the lighter vein of news, the release of a new Beatles song and an interview with Barbra Streisand have entertained audiences worldwide, reminding us of the enduring power of music and art.
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
MZ: The first 45 minutes will be spent with Matt and Lucas, we will tackle the news starting at 10:30 am Eastern.
Mod: GOOD TO SEE EVERYONE THIS MORNING!
MZ: Chatter continues to be great and we will see if anything happens over this weekend. We have a lot of group leaders that seem to think this is it.
MZ: I am hoping to hear from my bond contacts today –They were expecting liquidity today on the 4th. That was the expectation. Yesterday I heard they would get paid 1% in fiat and then the balance after the reset. But was told the elders were not happy about it.
Member: If elders were not happy about getting paid in fiat…sounds like they are waiting on us to be gold/asset backed……..we are all waiting for that imo
Member: If the Chinese elders are in charge of releasing the RV…Why don’t they????
Member: I believe the Chinese elders are waiting to see Perp walks of the Cabal. Now why they are waiting to do that. I have no idea.
MZ: China is active with drilling but now are expanding their presence in Iraq: “ Chinas Zpec approved for oil operations in Iraq” The US has dropped the ball again on another oil producing country and China is sliding right in there.
MZ: “ Failed bank information from Citizens Bank –Sac City IA” There is another failed bank. This is from the FDIC This was quietly released yesterday but I have not seen it in Main Stream News yet.
Mod: FAIL BANK INFO LINK: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/citizensbank.html
MZ: “BRICS currency almost ready-Will be much more attractive than US dollar , Pound and Euro-Says Ex-Russian Minister” When that happens this will be the death-knell of the petrodollar. This article broke yesterday.
Member: Any news on the Iranian Rial?
MZ: I had another confirmation that it is expected to be about 30% less than the Iraq dinar. And is expected to go at the same time. That’s the last thing I heard.
MZ: I do have a bank story from Scottsdale….There is a TruWest Credit Union ATM in a facility (leaving out the company name) A rep comes to service this ATM…and a person who works there had a conversation with him. The Person asked the ATM service man “When are you bringing the new money for this machine?- When do you get the new bills?” He smiled and said “Not Yet” ….Then the person asked “December?” And he said “I don’t know when but soon”
MZ: In other words they have started the preparation process for banks and ATM’s.-IMO….. So getting somebody in real life saying they are preparing is a lovely bank story. ….This is not verbatim as I didn’t want to get anyone in trouble.
Member: We are in a small local bank. I asked yesterday if they were ready for the QFS. Her reaction said 'what are you talking about'...she did say they were upgrading systems soon!
Member: Banks don’t use the term QFS! That’s why they don’t know what you are talking about. It goes under another name in the industry. I forgot what though!
Member: 2 banks here I noticed when I went online said they would be down Nov3 to Nov4 for maintenance
Member: Remember, Remember the 5th of November
MZ: You are not the only one looking for some kind of event tomorrow…and hope we actually get one. .
Member: So much misinformation everywhere.. Don’t know what to believe anymore
Member: What really upsets me is when they say disinformation is necessary. but in my book that means lying is legal
Member: If they would arrest the cabal – maybe the truth would be available once again.
MZ: Don't forget to set your clock ahead tonight
Member: Spring forward and fall back…We get an extra hour of sleep tonight …yaay
Member: Hope everyone has a wonderful weekend……Be sure to get outside if you can.
“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
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.
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...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..
.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.
Articles:
"NEARLY TEN BILLION DOLLARS IN IRAQI OIL REVENUES LAST MONTH"; "IRAQ IS AMONG THE LARGEST ARAB COUNTRIES IN GOLD RESERVES... INTERNATIONAL STATISTICS DURING 2023"
Yes, and still the dinar is at 1/6 of a penny. How outrageous is this that they still continue to manipulate the dollar in Iraq. We will see what happens in January when the CBI has reported they plan to cut off all dollars for imports. The dollars will dry up. So get ready Iraq…
Al-Mandalawi: The Next Stage Will Witness A Process Of Modernizing The Foundations Of Life In Baghdad
Political Baghdad – IA The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed today, Friday, that the next stage will witness a process of modernizing the foundations of life in Baghdad.
The media office of the First Deputy Speaker of the House of Representatives said in a statement received by the Iraqi News Agency (INA):
“Al-Mandalawi stressed that the areas south of Baghdad deserve greater attention in terms of services and infrastructure development, and utmost efforts must be made to achieve this.”
During his meeting with a number of sheikhs and notables from the regions of southern Baghdad - Mahmoudiyah district, according to the statement,
Al-Mandalawi stressed “the necessity of working hard to eliminate the service and urban disparities between cities and regions located on the outskirts,” stressing,
“his daily follow-up of the process of providing services to citizens and monitoring the implementation of development projects for the budget.” "With those concerned."
He added, "The basis is providing public services to citizens," pointing out that "the next project will witness a process of modernization of all the foundations of life in Baghdad and its various regions." https://www.ina.iq/196650--.html
It takes 5 minutes.. Sudanese advisor: Launching the (Visa Direct) service will contribute to reducing the exchange rate
Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market and its procedures take only 5 minutes.
Al-Shammari added, "The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service."
Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market, and the procedures take only 5 minutes.
Al-Shammari told the official agency, followed by (Al-Oula News): “The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service.”
He added, “This development is a major achievement that is linked in one way or another with the strategic vision held by the government and launched by the Prime Minister in financial, banking and economic management, and is also consistent with the new directions of the Central Bank in the process of re-evaluating, restructuring, organizing and maturing banking work in Iraq, and we are now witnessing the start of “It will have a significant impact on the commercial and banking reality in Iraq.”
He continued, “We hope that citizens will interact with this banking service, which will contribute to cutting off speculators in the black market, and the Visa Direct service will include many small merchants and will help them access a clear, explicit, official, and legal platform to transfer money abroad easily and conveniently, from account to account, at the official exchange rate.”
He pointed out that “this service will contribute to a decrease in the exchange rate in the parallel market within the framework of ongoing government work to regulate banking work.” Earlier, the Central Bank of Iraq announced the launch of the “Visa Direct” service to facilitate financial transfers, in coordination with the international company “Visa” and cooperation with the First Bank of Iraq.
The bank confirmed that the “Visa Direct” service is for direct financial transfer to the bank’s customers in Iraq, and it was launched digitally for the first time through a special application, and each customer in the First Iraq Bank (FIB) can transfer five million dinars daily, and 13 million dinars monthly, which will be calculated at a price. Official exchange. Central Bank Governor Ali Al-Alaq said during his speech at the service launch conference: “The Visa Direct tool came at the right time to facilitate transfer operations, especially simple transfers at the citizen level.”
He stated, “This tool facilitates the demand for foreign currencies and we are trying to expand access to these currencies in easy ways,” stressing that “the issue of foreign transfers, selling the dollar, and the exchange rate are fundamentally linked to employing as many electronic tools as possible.” link