Parliamentary calls to expand the “currency basket” to escape the consequences of the dollar
Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.
Al-Anbuki said in an interview with Al-Maalouma, “The restrictions on the circulation of the dollar in Iraq have created recurring economic crises, especially since Washington uses it from time to time as a pressure card, not in the country but in other countries, which increases the burden on the markets and led to the emergence of the parallel market that is behind the increase in burdens.” Finance on millions of Iraqis.
He added, "Iraq has realized the importance of creating a basket of other currencies besides the dollar to get rid of its restrictions, especially since it has large trade with countries such as China and India, which gives high flexibility in providing the funds necessary for imports without going through the complexities of transferring the dollar."
He pointed out that "many countries, some of which are oil-based, have begun to diversify the currencies in their financial reserves in order to provide greater flexibility in providing funds for import purposes away from the restrictions of the dollar."
The US Treasury created crises inside the country because of its restrictions on the transfer of the dollar to Baghdad and the imposition of sanctions on some banks. link
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Tuesday 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 Tuesday Morning RV’ers
Member: What is the difference between and RV and an RI?
MZ: We have covered this many times but, RI means they are re-instating the old value. An RV is revaluing at something different than the old value. Either one will be great for us. If they re-Instate it – I believe the rate was $3 something…..maybe $3.30 or so….Even with a re-instatement they are able to add more for inflation which could put it in the $4 dollar range. That is the basics.
Member: I believe it was $3.22 before.
Member: The Iraqi dinar was valued at $3.22 on May 11, 2004. On May 12th it dropped to$.0.0007. Approximately the same as its current value.
Member: Right now I would be happy at 1 to 1.
MZ: That would still be life changing.
MZ: Nader had a video where he pointed out the value of the Iraqi Dinar (historically) has changed a couple of times due to war or unrest or whatever. The rate goes down then it goes back up. There is historical precedence for this. He says in Iraq they have been very up front with this process and intend to re-instate or re-establish the rate and make it the most valuable currency in the world.
MZ: Remember the value was based on its petroleum industry for the last 100 years. Nader is reminding us this change in rate is inevitable. They have told us they are going to do ot. Be sure to listen, like and share his videos.
Member: I wonder if the meeting between Iraq and Treasury next week is because Iraq threatened to go alone this coming week meaning the US Treasury caved to make a promissory deal?
Member: GOLD OVER $2,000 AGAIN, SILVER TRYING TO BREAKTHROUGH $24
MZ: This story is still big….” Dutch Central Bank admits it has prepared for a new Gold Standard” This is a constant reminder guys…….What are we looking for guys? A reset of currencies and a new Gold Standard. They are telling the whole world and not hiding it anymore.
MZ: its been quiet on the banker side and the bond side overnight…….
Member: Can the bad guys stop the QFS system?
MZ: I don’t believe there is anything that can stop it. They tried their best to put in their version of the central bank digital currency…..but, it’s inevitable that its commodities that is going to matter. And fiat is going to die. Fiat always ends the same way as it returns to its intrinsic value of zero-Voltaire.
MZ: When we reset to gold/commodity backed currencies and end the central bank money printing….they will suddenly be wealthy again.
Member: Didn’t Trump say once that all currencies would be 1 to 1 someday?
MZ: I believe that was in 2017. He was trying to put more “gold bugs” in the Federal Reserve (Judy Shelton) and trying to put the Federal Reserve under the control of the US Treasury.
Member: What is the possible rate of the Indonesia Rupiah….
MZ: I am still hearing about $1.47
Member: We were told long ago this would happen when most people are home, like Thanksgiving or Christmas . The boards are literally saying without saying in the next few days. Like in the next 2-7 days.
Member: THANKS (Markz for all of your time you have) GIVING all of us!!!
Member: Everyone have a great day.
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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.
Iraq should stay away from Gaza conflict, says PM Barzani
ERBIL (Kurdistan 24) – Battered by enough issues at home, Iraq should stay away from the ongoing conflict in Gaza, the Kurdistan Region Prime Minister Masrour Barzani said on Tuesday at the MEPS23 Forum in Duhok.
Barzani took part in a special conversation with Ms Maryam Moshiri of the BBC at the Middle East Peace and Security Forum, where wide-ranging topics regarding Erbil-Baghdad issues, ongoing Hamas-Israel war in Gaza, domestic Kurdish politics, and Kurdistan Regional Government (KRG) reform programs, were highlighted.
Addressing the bloody battles in the Gaza Strip, where already more than 13,000 people have been killed and the risk of a regional escalation from the conflict is believed to be imminent; Barzani said “Iraq should stay away from the conflict,” as Baghdad has enough issues to deal with.
The premier denounced the war and slammed any efforts to resolve problems through violence, as the latter “cannot even be a way” for conflict resolution.
In his address on the first day of the forum on Monday, Barzani similarly highlighted the conflict and reminded the audience that the Kurds are also entitled to self-determination rights, as the two-solution has been touted as the key solution for the Israel-Palestine conflict.
“Kurds have also demanded the same rights and dignities, yet our cause has often been forsaken. How do you reconcile resounding support for one just cause and deafening silence for another?” the premier said in the speech.
KRG reforms
In another part of the conversation, Barzani highlighted his cabinet's reforms in various sectors, particularly in the banking and digitalization of public services.
MyAccount initiative, a financial inclusion program that the KRG is currently rolling out, to digitalize the payment system of public employees, will include more than a million public servants by the end of 2024, Barzani said.
Hundreds of thousands of employees in Erbil province are now owning a bank card through the program. The initiative will begin in Duhok and Sulaimani this month, the premier added.
About 1,000 ATMs will be installed over the coming years along with 40,000 payment terminals, according to the premier.
Fighting corruption has also been an integral part of the cabinet since its inception in July 2019, Barzani said, adding his strategy in the fight against corruption is to "stop" it.
"There are individuals who must be held accountable for their bad deeds," he said, adding his cabinet is "on the right track" in fighting the issue.
Climate change
The Kurdistan Region is similarly faced with the adverse effects of climate change in the Middle East, the official said, adding the issue is a source of concern for him personally.
Fighting climate change effects, which have the potential to lead to migration, requires collective efforts, according to Barzani, saying the threats from the issue are "serious" and can be witnessed currently.
He also urged the public to take the threats from climate change seriously.
Youth and Employment
With regard to the young Kurdish population, Barzani said the government has been working to create more opportunities for its youth, particularly with regard to job creation.
Laws have been amended in order to create opportunities for the youth, he said, highlighting the Bloom Project that his government has recently launched to provide financial support for small and medium projects in the region.
In response to a question about the lack of job opportunities in the Kurdistan Region, Barzani said hundreds of thousands of foreign workers are currently working in the Kurdish region.
The government is also working on an innovation center that will help the youth to foster their ideas, he said.
Diversity
"I'm personally not very much fond of the word minorities because we've paid a heavy price for being a minority and we've always been looked down upon," Barzani said, adding the region's citizens "all enjoy the same rights," and the government does not favor a particular group.
"It’s not about the majority and minority, it’s about the diversity of communities, religions, and ethnicities," he added.
"Everybody is equal in Kurdistan," Barzani said.
The Kurdistan Region has hosted over two million IDPs and refugees since 2014 as a result of the Syrian civil war and the emergence of ISIS.
"That speaks volumes about where Kurdistan stands on the rights of different communities," he said.
International oil companies
Barzani said the Kurdistan Region does not only defend its constitutional rights in Baghdad, rather it defends the rights of its partners as well, including the international oil companies that have invested in the Kurdistan Region's oil fields.
He said the Kurdish region will continue defending its rights and will not give them up "to please anyone."
'Wrong timing'
Regarding the latest Iraqi Federal Supreme Court decision that had removed the membership of the Iraqi speaker of parliament, Barzani said the timing of the verdict was "wrong".
He said the Sunni representatives must be respected, as they are an integral part of the Iraqi political process.
Iraq’s President Concludes Diplomatic Visit to Azerbaijan, Set for Armenia
President Abdullatif Jamal Rashid of Iraq concluded his diplomatic visit to Azerbaijan on November 21, marking a significant step in the continued strengthening of ties between the two nations. The official departure ceremony held at Heydar Aliyev International Airport, with a guard of honour lined up to see him off, underscored the importance of the visit.
Press Statements and Future Cooperation
Following the visit, both President of Azerbaijan Ilham Aliyev and President Abdullatif Rashid made press statements, discussing various facets of the bilateral agenda and outlining key directions for future cooperation. President Aliyev expressed his belief that President Rashid’s visit would bolster the friendly relations between Azerbaijan and Iraq, opening a new chapter of cooperation.
Call for Peace and Solidarity
In the Azerbaijani capital Baku, President Rashid voiced his hopes for a successful peace treaty between Azerbaijan and Armenia. This sentiment signals Iraq’s support for stability in the region and underscores the potential role of diplomacy in resolving conflicts. Furthermore, both leaders discussed their mutual support in international institutions and solidarity within different global organizations.
Strengthening Bilateral Relations
Emphasizing the historical significance of the visit, President Aliyev reiterated his commitment to further enhancing the relations between the two countries. President Rashid echoed this sentiment, expressing his determination to strengthen bilateral ties and readiness to sign memorandums of understanding between Iraq and Azerbaijan. Such declarations reflect a shared ambition for a long-term, mutually beneficial partnership.
Member: MarkZ, ready to have you walking through the streets yelling, 'The RV is coming!'
MZ: I have a great banking story to share with you. I will leave his name to maintain anonymity: “Today I went to a JP Morgan Chase bank. The cashier confirmed that they are in training and admitted that they are changing their systems. There was an advertisement on a 13 foot pillar, an LED screen that said “Foreign Currency Exchange” and admitted what you and others like Frank, Bob and others tell us. We smiled a lot after today's bank visit.
MZ: In Iraq they are talking about how de-dollarization is working... and now that they have opened banks that use other currencies... it has greatly reduced their dependence on the US dollar. And they are seeing the dinar rate rise against the US dollar. I was told that as soon as the parallel/black market rate reaches the official rate... then the big change in value. They need to stabilize rates before they can change them.
Member” Nader made a short video today… They are working on modern banking updates and improvements. Lots of modernization
Member: TNT Tony said a rate of $4.81 for us today
Member: Frank 26 in shiny gold suit today.
MZ: “Citigroup begins layoffs as Wall Street prepares for a difficult end to 2023”
MZ: “IMF Releases Digital Currency Manual for World’s Central Banks” This one is going to surprise almost everyone… It's not specifically about the creepy, evil CBDCs… but it's about blockchain and blockchain-backed currency. assets. These currencies can wean the world from dependence on the US dollar. They have a manual for countries to create their own sovereign digital currency.
MZ: This is the IMF throwing the United States under the bus... showing the world how they can de-dollarize... this piece is huge. Financial markets around the world should be erupting. Right now.
MZ: This is in Forbes: "US Dollar Collapse 'Accelerates' 33.7 Trillion Shocks, Fed Inflation Warning, and Makes 'Bullish' Case for Rising Bitcoin, Ethereum, XRP and Crypto Prices" These They are alternatives to the US dollar……. .Loudly they say that the dollar is collapsing and accelerating.
MZ: “The de-dollarization of Russia and China is almost complete” About 95% of transactions are now settled in their national currencies.
MZ: “Egypt and India completely abandon the dollar”
MZ: “Sri Lanka central bank to adopt floating interest rate and report on foreign reserve collection” This means they are decoupling… They are ready for the markets to decide their value.
Member: Argentina just eliminated the income tax
MZ: “Morgan Stanley CEO says his company is ready for the end of Basel III: the radical new global rules on banking”
MZ: “Texas has the answer = Imagine a gold-based Texas currency that you can spend that keeps up with inflation and for every dollar you spend is physically returned in gold…”
Member: I feel like things are moving pretty quickly. Thank God
Member: We are so close to the RV that we can see and smell it... but I want to touch it, please.
Member: Restore happiness to the desperate, bring love to the lonely, food to the hungry, and peace to this wounded world. In the Name of Jesus I ask you, Amen!
Member: Rest well and sleep soundly…Blessings and peace.
_________________________________
TRANSLATION IN SPANISH:
Lunes 20 Noviembre 2023
Mark Zee : Dice
Lunes por la tarde
— Miembro: Buenas noches de lunes a todos.
Miembro: MarkZ, listo para que andes por las calles gritando: '¡Se acerca la casa rodante!'
MZ: En Irak están hablando de cómo está funcionando la desdolarización... y ahora que han abierto bancos que utilizan otras monedas... ha reducido en gran medida su dependencia del dólar estadounidense. Y están viendo cómo el tipo del dinar aumenta frente al dólar estadounidense. Me dijeron que tan pronto como la tasa del mercado paralelo/negro alcance la tasa oficial... entonces el gran cambio de valor. Necesitan estabilizar las tasas antes de poder cambiarlas.
El miembro” Nader hizo un video corto hoy… Están trabajando en actualizaciones y mejoras bancarias modernas. Mucha modernización
Miembro: TNT Tony dijo una tarifa de $4.81 para nosotros hoy
Miembro: Frank 26 con traje dorado brillante hoy.
MZ: “Citigroup comienza a despidos mientras Wall Street se prepara para un difÃcil final de 2023”
MZ: “El FMI publica un manual de moneda digital para los bancos centrales del mundo ” Este va a sorprender a casi todos... No se trata especÃficamente de las espeluznantes y malvadas CBDC... pero se trata de blockchain y moneda respaldada por activos. Estas monedas pueden hacer que el mundo deje de depender del dólar estadounidense. Tienen un manual para que los paÃses creen su propia moneda digital soberana.
MZ: Este es el FMI arrojando a Estados Unidos debajo del autobús... mostrándole al mundo cómo pueden desdolarizar... esta pieza es enorme. Los mercados financieros de todo el mundo deberÃan estar en erupción. Ahora mismo.
MZ: Esto está en Forbes: " El colapso del dólar estadounidense "aceleración" 33,7 billones de shock, advertencia de inflación de la Fed y presenta argumentos "alcistas" para el aumento de precios de Bitcoin, Ethereum, XRP y Crypto" Estas son alternativas al dólar estadounidense ……. .En voz alta dicen que el dólar se está derrumbando y se está acelerando.
MZ: “La desdolarización de Rusia y China está casi completa” Alrededor del 95% de las transacciones ahora se liquidan en sus monedas nacionales.
MZ: “Egipto e India abandonan completamente el dólar”
Miembro: Argentina acaba de eliminar el impuesto a la renta
MZ: “El director ejecutivo de Morgan Stanley dice que su empresa está lista para el final de Basilea III: las nuevas y radicales reglas globales sobre la banca”
MZ: “Texas tiene la respuesta = Imagine una moneda de Texas basada en oro que puede gastar y que se mantiene al dÃa con la inflación y por cada dólar que gasta se devuelve fÃsicamente en oro…”
Miembro: Siento que las cosas están avanzando bastante rápido. Gracias a dios
Miembro: Estamos tan cerca de la casa rodante que podemos verla y olerla... pero quiero tocarla, por favor.