Diversify Foreign Currency Sources to Curb Dollar Dominance, Urges Atwan Al-Atwani
In a significant turn of events, Atwan Al-Atwani, the head of the Parliamentary Finance Committee, asserted the need for diversifying foreign currency sources in commercial transactions. The move is deemed critical in tackling the escalating demand for the US dollar. Al-Atwani lauded the Central Bank of Iraq for its monumental strides in stabilizing the market, curbing the dominance of the US dollar, and bolstering the Iraqi dinar’s role in international trade.
Addressing Dollar Dominance
Al-Atwani underscored the importance of this approach as a comprehensive solution and a well-considered strategy to pave new avenues. These avenues are expected to ensure the smooth execution of commercial transactions on multiple levels. The primary objective, he pointed out, is to reduce the overwhelming reliance on the US dollar and promote the use of other viable currencies in international trade.
Supporting the Central Bank of Iraq
Reiterating his full support for the Central Bank of Iraq, Al-Atwani was positive about the bank’s consistent steps towards rolling out realistic solutions for the crisis. The bank’s initiatives are aimed at reinforcing the Iraqi dinar’s position in global trade and reducing the market’s dependency on the US dollar.
Greenbridge Capital Launch
In related news, Banco Latinoamericano de Comercio Exterior – Bladex (BLX), TC Latin America Partners and Toesca Asset Management announced the launch of Greenbridge Capital, a regional private lending platform. The first factoring vehicle of this platform will be funded by Bladex. The joint venture is set to commence operations in Chile by the end of 2023, with future expansion plans for other countries in the region, including Colombia, Peru, and Mexico. Greenbridge Capital’s first vehicle, with a financing capacity of up to $200 million, will focus exclusively on the Chilean factoring market.
Let me explain to you what their next target is, referencing the 2011 Dr Shabibi plan.
So the article is entitled – “PARLIAMENTARY CALLS TO EXPAND THE “CURRENCY BASKET” TO ESCAPE THE CONSEQUENCES OF THE DOLLAR”.
So, what is do exciting about this article?
Not only do we have two sources now openly stating they need to go to a currency basket for their new peg for the dinar, but also it is now coming from parliament asking for it.
We already know that the prime minister Al -Sudani and the CBI both support this concept and so now everyone is onboard.
I quote from the article – “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.”
Didn’t AL-ALAWI just also express his support for economic transformation and stresses the importance of dealing in multiple currencies?
Yes, he said and I quote – “This step taken by Iraq is not only an isolated step, but rather reflects a global trend towards liberating transactions from the dominance of the American economy.
Oh…using the term “Liberating”?
Sound familiar? (like in “to liberate the Iraqi dinar” as in “reinstatement” as I have been saying now for years.
This is stated directly in the 2011 Dr Shabibi plan.
He then continued to say – “In a prediction for the coming period, Jassim expressed his expectation that currencies other than the dollar will enter Iraq, noting, “the presence of other currencies with a weight and size commensurate with the economic reality.
Isn’t this also called a “weight basket” like the basket of 6 currencies the IMF told us would happen each with its own weight and size according to the economic needs?
This basket would happen when they get off the sole dollar peg (de facto peg) and then move to a basket of currencies and then to a float on FOREX.
This news also could not come at a better time and I am told by my CBI contact that this is part of the re-education campaign they are now undertaking.
So yes, more articles that were planned are now coming out.
Also Al-Sudani came out once again in Iraq in another televised broadcast explaining that the dinar in the “coming days” will be greater that the dollar.
Folks they are getting ready to make their next move to a basket of currencies.
This is their next step of the Dr Shabibi 2011 plan.
I firmly believe that their de-dollarization phase is ending or has already ended.
They monitored the dinar for a period of time, as they told us they needed to do to watch for inflation once they began this process and then take the steps necessary to reign in the dollar and stabilize it with the dinar.
So what steps are remaining?
We know they already told us they got off the sole peg to the dollar but need to re-peg the dinar to something new, now that the monitoring phase is over.
These are the NEXT steps of the 2011 Dr Shabibi plan I want to bring to your attention:
• To revalue the dinar in-country only, to a value over the dollar in order to motivate the citizens to bring them to the bank thus collect the “stashed” dollars from under the mattresses. (not yet on FOREX).
• Conduct the swap out of the three zero notes with the newer lower denominations (Project to Delete the Zeros).
We were told in 2011 this step could happen right around the time of the in-county dinar revaluation.
• Then to further revalue the dinar, by re-pegging to a basket of 6 currencies of the major developed countries, each countries currencies have a weight in the basket.
• Hence move the dinar to a “managed float” on the global currency foreign exchange thus liberating the dinar once again on FOREX.
Some of these steps most likely will happen or could happen all at once or a few days apart.
What about the Oil and Gas law you might ask?
Doesn’t this need to be passed in parliament prior to the move to FOREX.
All I can say to answer this question is that I was told almost a decade ago by my CBI contact that they needed “to fulfill their constitutional obligations first prior to any significant change off the three zero notes”.
Will they make an exception based on the news of the high rate of inflation and so on and so forth?
We know they are working hard to get an acceptable version of the law to parliament for a vote.
This effort really turned to a new high this year and so go figure why it just happened this way along with the de-dollarization phase.
Folks, nothing just happens.
I do not believe in coincidences.
So, now it is past mid-November already and January is coming fast.
I can clearly see that God’s Hand is in all this and has moving this ahead.
So far God’s angels have protected this effort by allowing Iraq to stay stable and out of the conflict going on in the Gaza strip.
This was with the terrorists group Hamas could have easily spilled over into the other middle eastern countries but did it?
We must ask ourselves why?
I have also told everyone that I have evidence that Biden will sign off on this effort and allow the completion of this monetary reform to occur.
Why would he do this now?
First it not about Biden wanting the credit for it.
He knows his days are numbered and they can’t keep up this charade for much longer.
We all know they cheated on the 2020 elections and were successful in the coup against the US government.
You might say I am stretching it to say it was an actual coup since no violence or force was undertaken.
But this was a new kind of coup, the coup of deception using the news media to pump it up.
But this is what made this coup so special.
They used a combination of the portable ballot drop boxes (using Covid as their excuse to use them) and the electronic voting machines along with the fake news media to do it.
Then through this constant onslaught of propaganda by the news media (that continues till today) that it is just a conspiracy theory that the election was a fraudulent one.
If you are one of these believers in thinking that this is just a MAGA Trump sour loser conspiracy theory, then let me bring just one event to you that may change your mind.
It is the Jan 6th 2021 joint session of Congress and the Senate to certify the election results.
Did you even know (you should since I already told you) that there were many states that completed and fulfilled as required by law, the US Constitutional requirement to put together the necessary documentation and evidence of voter fraud and they presented this evidence to this joint session.
What happens next is so obvious but to this day nothing ever happened to resolve it.
Just when the next step of the session had no choice but to allow the investigations to take place, according to the US Constitution, the so-called breach of the Capitol building occurred.
When the joint session meeting finally did come back into session, Vice president Pence rushed to declare the certification of the election results, thus totally ignoring the US Constitution that demands the further investigation of voter fraud allegations.
Future investigations are underway and the TRUTH will come out.
So this is how they performed their coup on the election knowing damned well the American majority vote would never go their way.
Remember that Trump got almost 10 million more votes than in 2016 and so Biden won by a slim margin of just 42,000 votes?
This Biden would have had to not only get an many votes as Trump but 42,000 more.
Does this seem weird to you for someone who has 10 people at his rallies yet Trump has thousands?
Does this seem weird to you that Biden campaigned mostly from his basement?
Now here is the tricky part.
There were never as many voters in the 2020 election and it set a new record high.
Next if you add up all the “registered” voters in all 50 states and they all should vote, then the numbers don’t add up to the total number of votes casts.
It is way over by millions of fraudulent votes somehow got into the system.
This alone should have been warranting evidence enough to prove to the American people if the election was rigged or not.
So why was no one concerned, even not SCOTUS?
Of course the democrat party would not be concerned as they won.
Remember what God said – “what can be shaken – will be shaken”.
I believe this election fraud must be resolved and has to be resolved.
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 everyone, hope you all had a wonderful Thanksgiving Day
Member: We are now 1 day closer to our new beginnings !!
MZ: I mentioned this yesterday but had a contact form a group that is expecting full liquidity sometime over this weekend. They have not gotten that liquidity yet.
MZ: Its been pretty quiet so far today…..Waiting for the world to wake up and be back in their seats. Probably the earliest I will get news is after noon est.
MZ: I do know that my redemption center folks are headed into work today. They work in wealth management as well so I’m not reading to much into that today. I should get an update sometime today to share with you this evening.
MZ: In Iraq they do not have a rate posted yet. But we continue to hear great things that should happen in the coming days. We don’t know the timing but it sure appears close.
Member: Others are saying that Iraq will delete the zeros, then it’s 1, THEN they change the rate to $3.22… or whatever.
MZ: When they devalued it –did they just add the zeros or not? Listen to Dr Shabibi….he did a great video on the process about a decade ago.
Mod: Dr Shabibi answering questions https://www.youtube.com/watch?v=ol8wve53-ME
Member: Is there a new window for the RV?
MZ: No new window because I believe this currency window is still wide open waiting for someone to say “go”
Member: Mark, multiple rumors are saying lower denoms and coins on the street? Hope its true.
Member: Jerome Powell is going to delete 34 trillion in the bond market?
MZ: That is the rumor running around…….I would think they would need a reset to make that happen???
MZ: “Singapore and major banks test tokenization under Project Guardian” They are making certain you cannot steal digital dollars and assets moving back and forth. It should mesh with the Quantum Financial System.
Member: People are very nervous on how this is all going to work?
MZ: I know they are. Just stay calm. Don’t be concerned you are going to miss this event. The reset will be all over the news….telling us what to look for in new bills ..how to use them…ect….They are going to talk about the Treasury, The Fed….Asset backing….ect…..There is no chance you will miss this event.
Member: Sure seems to be a lot happening….hope they release the reset this weekend.
Member: I’m afraid it wont be until Jan 1…..but if it takes that long…..I will stick it out .
Member: I still hope for it to happen by Dec 1.
Member: It’s a 4 day weekend…..maybe??????
Member: Thanks Mark and Mr. C…..we appreciate you.
Member: Happy birthday to all celebrating, and stay safe on this “Black Friday”
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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
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.
What's the exchange rate crisis? It's been at 1310 since the early part of 2023. They devalued to 1460 then they adjusted it by 10%. What's not good about that? What did it prove? That adjustment the World Bank was talking about of 10.3% is actually a positive sign because what did it do? It staved off inflation...There's some positive aspects to some of these things...Revaluations happen. They need to be tested.
Article: "Alaq says the rise in the exchange rate in his time and the project to delete the zeros still exists" When was that? July 26, 2023. The plan is still underway, hasn't changed. It's a dynamic and fluid circumstance. We had the Bank of International Settlements come out and talk about highly complex financial transactions ...shocks, warning people...we can see there's some fireworks going on...in the background.
We're hoping Iraq will show us they have Article VIII compliance any time now. Let's see what happens...
Article [via MeetMeOnline] quote:
"Easing of global commodity prices, the revaluation of the dinar, the continued price subsidies are projected to keep inflation in check..."
This is coming from the World Bank...price subsidies are projected to keep inflation in check because of why? Because of the revaluation of the dinar...The World Bank are the ones talking about the revaluation of the dinar and the revaluation will help facilitate [many things] ...
Article quote: "Many countries in the region and the world have expressed a great desire to participate in this project [Iraq's Development Road Project] especially since it will be the most appropriate, shortest, least expensive way to transport goods between the continents of Asia and Europe"
It's going to be a major hub of the globe and you're thinking that Iraq can't ever revalue their currency? I think that is just flat-out silly. To think that it's not going to ever happen...the news speaks for itself...
Al-Fateh: Iraq has many options to respond to the American aggression
Al-Fateh - Iraq has many options to respond to the American aggressionInformation / Baghdad…
Representative from the Al-Fatah Alliance, Ahmed Rahim, confirmed on Thursday that Iraq has many options and cards that it can resort to in response to the unsurprising American actions towards the country.
Rahim told Al-Maalouma, “What the United States of America is doing is very expected and there is nothing surprising in its actions towards Iraq, at a time when the government holds many political and economic cards against Washington.”
He added, “Many countries are willing to cooperate economically with Iraq and have announced this explicitly. Therefore, cooperation in this field is not limited to the American administration, and there are many options that Iraq can resort to to dispense with its relations with America.”
He stated that “the eastern camp has great potential, especially on the economic level, and Iraq can conclude oil and financial agreements and exchange currencies with them, which confirms that Iraq has many options that do not make it tied to the American administration.”
Experts: Iraq Has Important Investment Laws, But They Are Ineffective money and business Specialists in economic affairs said that the investment law in the country is one of the best laws that can attract capital and international companies, in addition to being appropriate to the economic reality, indicating that those advantages provided by the law were not optimally exploited to bring about broad development or reconstruction moves, and were not exploited.
The provisions of the laws are widespread except in the oil field, indicating that legal legislation alone is not sufficient for the inward flow of investment capital.
In an image that confirms the government’s intention to activate investment laws, Muhammad al-Najjar, advisor to the Prime Minister for investment affairs and director of the Iraqi Fund for Development, during his hosting earlier by the Parliamentary Investment and Development Committee headed by Representative Hassanein al-Khafaji, stressed the necessity of reconsidering investment laws and some other laws to suit the objectives of Iraqi Fund for Development.
The advisor, according to a press release issued by the Investment Committee, provided a detailed explanation of the vision for the Fund’s work, the problems and obstacles that obstruct the workflow, as well as the opportunities for success that the Fund seeks to achieve, indicating that the most important goals that the Fund focuses on in its work are establishing partnerships with investment funds and completing investment projects. Through the private sector in Iraq.
Al-Najjar also confirmed that the most important projects that the Fund focuses on supporting are projects with social returns, such as schools and housing projects, as well as profitable projects such as environmental projects, the technology sector, raising production in the agricultural sector, and others, while
the Chairman of the Parliamentary Committee, Hassanein Al-Khafaji, stated that we cannot proceed. In building a strong Iraqi economy without an active and effective private sector, to contribute to creating job opportunities and reducing dependence on oil.
In this regard, the academic and economic researcher, Dr. Abdul Karim Al-Issawi, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that “Iraq has begun a new era in its distinguished economic and political relations, and is striving towards openness to the outside and integration into the global economy after political isolation that extended for more than Two decades ago, the
first step towards that openness was the adoption of liberal laws on the investment level, and accordingly, Investment Law No. 13 of 2006 and its amendments were issued. Al-Issawi believes that
“this law is one of the best investment laws in the regional and Arab neighborhood, but it did not achieve the desired and expected goals of it, namely the flow of foreign funds to invest in the commodity and service economic sectors in Iraq, and
foreign investments were limited to the oil extractive sector largely through oil licensing rounds and in a small percentage.” " Very much so than other sectors."
Dr. Al-Issawi continued, “This reality affected national capital, which preferred toinvest abroad as a result of the failure to activate investment laws in their correct form, and the absence of an appropriate environment for work in Iraq at that time, which was determined by a group of economic, financial, political, and security determinants, as
legal legislation alone cannot It is sufficient for capital and investments to flow inward, but these legislations must be implemented in the correct manner in order to be compatible with the Iraqi economic reality.”
Al-Issawi pointed out that the current government trends are in the interest of attracting investors and capital, as the Sudanese government is working to activate laws that are in the interest of investment, so this trend should be exploited to create strategic projects relying on the private sector and foreign companies, indicating that
these positive factors were not available in Previous years, as the difference in visions regarding the quality and nature of investments constitutes a major obstacle to companies wishing to enter Iraq, in addition to the conditions that the country experienced in the past, which have completely disappeared now.
For his part, the specialist in economic affairs, Dr. Adnan Bahia, says that investment is one of the development arms of any country that is trying to move at an accelerated pace towards development and sustainable development.
It also contributes to the transfer of technology and modernity, employs a large number of workers, local experts and graduates, and reduces the burden on the state financially and planning. In the areas of development and shaping the future.
Bahia added that investment works to strengthen relations between countries and companies, especially in the field of long-term investments, but it needs a safe and stable environment, in addition to its need for an environment that protects it from routine and dealing with relevant institutions.
