The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: "Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
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: Another Friday Night…….hoping this is the last one pre RV
Member: Ready for Mark to give us some great news!!!
Member: Does anybody else wish it would go tonight?
MZ: I think we all do….We have some bank stories I think you will enjoy tonight
MZ: I thought this was a fantastic one: I am editing the name of the bank for the bank and the individual’s safety.
MZ: I have an account with ----------- I was there the other day talking with a bank manager. I asked her if she knew about Basel 3 and the changes in banks requirements in becoming a world’s currency exchange center and gold backed institution…She said they knew about the changes and ready and that they had been watching me (The bank customer) and had a portgolio on me and they were excited for me and hoped they could keep me as a customer….She said that was all she could say…and she may have said to much.
MZ: I think this was fantastic. We have heard similar storiesfrom other members. Here is one more
MZ: This person went to Krogers today …and what they had installed in Krogers will surprise you. A currency redemption machine that reads foreign currency. They had just installed it and I could not find the manufactures name on the device. And they are building a brand new BOA right across the street with no drive through windows…in the lobby there are no tellers .in the lobby are 2 big tables….and there are 10 offices down each side of the building. This is a totally new format and will be open next week.
Mark shows picture of the foreign currency machine….
MZ: They are expecting people in with foreign currency. How many people roll around with foreign currency? T think this is a huge tell on what they suspect is coming………
MZ: Lots of financial experts are looking for an implosion in the bond markets this weekend. There is a whole lot going on and lots of chatter for this weekend.
MZ: They are still hoping we see the RV by Dec 1st. That is their goal. And Iraq has been very clear it needs to go by Jan 1st. Just be calm and don’t ride the roller coaster.
Member: Have the indian tribes been paid yet. I believe they are in Tier 3.
MZ: Tribes have not been paid yet….and they have not yet released the money for the groups. Groups are still hopeful for a release over this weekend.
Member: I read that walking stick and Frank 26 exchanged messages back and forth, that small denoms were in the ATMS, including coins! Hope its true!
MZ: “Breaking : Argentina’s President-elect says he will close the countries Central banks.” He says closing the Central Bank is non-negotiable. This will remove the opportunity to deficit spend and use IOU’s.They can’t them spend money they do not have. Forced fiscal responsibility. This is going to be very interesting.
Member: Thanks so much Mods and Mark and family for just being the best family
CBD Gurus join the stream tonight. Please listen to the replay for their information
“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.
GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home
Member Of The Democratic Party: Postponing The Oil And Gas Law Until After The Kurdistan Parliament Elections
Time: 11/24/2023 19:22:08 Read: 858 times {Politics: Al-Furat News} A member of the Kurdistan Democratic Party expected that the draft oil and gas law would be postponed to next year due to continuing disagreements over it.
Wafa Muhammad Karim told Al-Furat News Agency, “The oil and gas law has reached the stage of final touches before being sent to the House of Representatives, but the entry into the oil-producing governorates required more time to write the draft, in addition to the presence of political parties that want to obstruct the law.”
He added, "So far, the law has not been sent to Parliament and will be postponed until next year, because it is one of the most complex laws passed in Iraq."
Karim expected that "the draft law will be implemented after the Kurdistan Regional Parliament elections {scheduled for the beginning of next year} due to its legislative difficulty."
Prime Minister Muhammad Shiaa Al-Sudani confirmed on the second of last August that the draft oil and gas law is part of the commitment to the ministerial approach, which the House of Representatives voted on, and will take into account constitutional principles, in a way that guarantees the fair distribution of oil wealth and improves the reality of the economy in its various aspects, and contributes to the economic reform that The government has made it a priority.
Al-Sudani directed the formation of a ministerial committee to supervise the technical dialogues between the Federal Ministry of Oil and the Ministry of Natural Resources in the region, in addition to inviting the governors of the oil-producing governorates, Basra, Maysan, Kirkuk, and Dhi Qar, and the general directors of government oil companies to the ongoing technical dialogues regarding the law, provided that it is followed by These dialogues complete the political dialogue to agree on submitting the draft law. Raghad Dahham LINK
It has to revalue. If you talk about the assets and how much Iraq has...Look at Kuwait doesn't have anything. No agriculture. They have a little bit of tourism. When Kuwait hits your mind? Almost never. Here's the thing though, Iraq is more richer than Kuwait. It's 100x, 1000x richer than Kuwait. Of course because it's bigger than Kuwait... When you hear the head of state saying the dinar is stronger than the dollar you got to believe him. It is stronger.
Yes, it's going to revalue. When? I don't know. But it's going to revalue. They have to revalue. If you look at the history and you look at the wealth Iraq has...It's real. What's going on is real...The revolution of the dinar is there. The reinstatement is there. They're going to have to reinstate...The...dinar was down because of the war and the sanctions...Iraq got heavily sanctions. But now the country is going back to normal.
Parliamentary Finance Identifies A Single Factor For The Stability Of The Dollar And Dinar
Economy | 08:43 - 11/24/2023 Mawazine News – Baghdad The Finance Committee in Parliament considered that diversifying the sources of foreign currency reliance in commercial transactions is the only way to address the problem of the increasing demand for the dollar, and to create a parallel market for selling hard currency.
The head of the committee, Atwan Al-Atwani, said in a statement received by Mawazine News, “The Central Bank’s response to our previous call regarding addressing the problem of the increasing demand for the dollar and creating a parallel market for selling hard currency has come a long way in the mission of restoring market stability.”
He added, "By starting to open different windows to deal with other foreign currencies and adopting the (clearing) system in trade exchange with various countries, the Central Bank has come a long way in getting rid of the dominance of the dollar and strengthening the strength of the Iraqi dinar and entering the line of global commercial transactions."
He stressed "the importance of this approach as an effective solution and a well-thought-out strategy to open new horizons that ensure the facilitation of commercial transactions procedures at various levels," reiterating "full support for the steps of the Iraqi Central Bank."
He stressed that the Iraqi Central Bank "is moving steadily towards developing real solutions to the crisis, while we look forward to other steps that will restore stability to the market and end the problem of exchange rate fluctuations and increasing demand for the dollar."