Coffee with MarkZ, Militia man, and Andy Schectman. 11/29/2023

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

Coffee with MarkZ, Militia man, and Andy Schectman. 11/29/2023

Good Morning Everyone ! Looks like a Jam-packed line-up today

Member: We are all so ready for things to start...

MZ:”Central Bank Governor: Washington responds to all that Iraq needs in terms of dollars and meeting with it next month 28th of Nov. ” This article was from yesterday.  Quote “There are no restrictions on Iraqi funds abroad”  This is what we call “International”  Awesome things are coming out of Iraq.

Member: I hope Bruce got it right last night. He says notifications are incoming. 

MZ: I can tell you that is the chatter our of one of the largest banks concerned with this…..we will see. 

Member:  I am hearing that a Dinar rate announcement is likely in the next couple days ... are you hearing the same with reason for confidence? Thanks!

MZ:  I am hearing that.

Member: Frabk26 said 6 type of Lower Denoms were  release

Member:  please explain what the 3 0's are dropped FROM

Member:  A special treat. Militia Man is visiting. How nice

MZ: Welcome MilitiaMan…So glad you could make it. What do you hear today?

MM: I do have a few things that have been ongoing….i can hopefully set the stage for a few people. 

MM: This month has been a busy month for Iraq. They have been having meetings in all shapes and forms . They have been correlation with others from around the world. Europe, Great Britain, The UAE, Abu Dabai……all these countries have things ongoing with Iraq. 

MM: There has been some interesting meetings. There is a automated system for customs data meetings….….The WTO meeting started on the 31st of October through the 3rd…then there was more meetings throught the 6th-8th on the technical side of it. 

MM: More meetings in Erbil from the 11th through No. 14th. They sponsored trade fairs with 100’s of companies this month. Trade fairs are big. I think the first trade fair was in Basra in the south with about 200 companies and countries  attending. This was all about the private sector. 

MM: On the 22-28th which was just past….was another trade fair again with over 200 countries and companies attending. To boost the private sector and business. That is what Iraq is doing. 

MM: The 2023, 24, and 25 budget has some issues that have not been opened yet for projects but these companies and countries are coming to reconstruct the country of Iraq. …Look at the Development/road project will effectively build cities with millions of houses. All of these businesses around the world are showing up. 

MM” Back to the automated system for customs date or Asycuda (sp?) and the bottom line is they had meetings with the IMF on “customs laws”  and they did that on Nov 6th through the 17th. So you can see these meetings overlap . 

MM: Hopefully Iraq will be using their REER or real effective exchange rate in this new customs system. What does it do?…It fights corruption, it’s transparent and it is fast and accurate. 

MM: There has been a lot of corruption and graft at Iraq’s borders. This system will curb that. I don’t hink anything can stop this now. Everything is coming to a head. 

MM: During this month…Turkey is also in negotiations with Baghdad who sent a delegation there the beginning of this week. They are talking about many different things like oil. The Ceyan port has been receiving oil since March. They are losing Billions every single day this way and they now have a pipeline that the oil is ready to flow beginning today. 

MM: The next thing is serious talks about the HCL (Hydro Carbon Law) in Erbil. Remember Al Sudani went to Erbil to discuss the HCL from Oct to the present…He was there off and on for several days.  This all seems to be hammered out and one of the key components we will see is a Internationally acceptable , article 8 compliant exchange rate. 

MM: Remember the 2023 budget is an “Investment budget” ad they have not started those projects yet. And why haven’t they finished the hydrocarbon law which is money for the people? It’s because they need a revaluation for that. That is my opinion. They need a new rate for all those contracts. 

MM: Now we are seeing everything coming together. Another thing to look at is Dec 7th. The IBBC (International Bank of Business and Credit)  autumn conference. This is leading companies out of Great Britain. It will be packed with speakers. From GE, Siemans….all kinds of oil companies…..ect….Some of the really high up people in this world will be there. You can google it and see all the different people that will be there. 

MM: This all paints a picture that Iraq is going International big time…Iraq is considered to be one of the world’s wealthiest nations with vast reserves……They have the money they need for a new real effective exchange rate. With the oil, natural gas, sulfer, precious metals ect…..they can afford it. 

MZ: And the rare earth minerals….Iraq has just discovered…..Iraq is worth much more now than when the rate was $3.22 over 20 years ago. 

MZ: When we look at all the boxes Iraq has checked off…..are they waiting for anything to revalue? I think they are far more done then they are telling us. Honestly anything else they want to do could be done in 2 seconds flat…imo 

MM: I think that is safe to say and is probably true. We are real close. 

MZ: Thanks for joining us today. Anything else you want to share?

MM:  Its just nice to know that everything has come together and we are seeing things happening…I believe nothing can stop it and soon they need to expose it to us all. 

MZ: You can watch his videos at Patreon and youtube. Please look for MilitiaMan and Crew. 

Member Thanks to everyone sharing today….: 

Member:  Mark thank you eternally for what you do for our community…Thank you MilitiaMan and Andy as well. 

Membee: Thanks for all the great intel here! Blessings to you and all here!

Andy Schectman from Miles Franklin joins the stream as well today. Please listen to the replay for his information and opinions. 

THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARK’S OPINION ONLY.

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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!

"NEWS OF IRAQ" BY MNT GOAT, 29 NOV

 SUDANESE ADVISER: THE BATTLE OF THE DOLLAR IS COMING TO AN END

Al-Rikabi said in a post on the X platform, followed by Earth News: “The reform plans for the financial and banking system carried out by the government and the Central Bank of Iraq aim to build strong pillars for the stability of the economy and pave the way for creating a climate conducive to investment, and ending the eras of illegal trade, dollar smuggling and speculative operations in the market.”

“In short, the battle for the dollar is coming to an end,” he added.

More news….

MOODY’S MAINTAINS IRAQ’S RATING AT “CAA1″… WHAT DOES THIS MEAN?

Moody’s credit rating agency maintained its rating for Iraq’s economy at the level of “Caa1” and maintained a stable future outlook.

The agency said in its report that the classification comes under accreditation economic, financial and external impact on the oil and gas sector, resulting in significant exposure to oil price fluctuations and carbon transition risks.

 More news….

UNITED NATIONS: WE SEEK COOPERATION WITH IRAQ TO MAKE THE FINANCIAL FUTURE A SUCCESS

The Resident Representative of the United Nations Development Program in Iraq, Oki Lootsma, confirmed today, Monday, the pursuit of cooperation with Iraq to make the financial future a success.

Lootsma said in his speech during the conference launching the Financial Investigation Procedures Guide, which was attended by the Iraqi News Agency (INA) correspondent: “The United Nations Development Program is honored to cooperate with Iraq to enhance financial integrity and the success of the financial future in Iraq, as well as achieving long-term continuity. We declare the fight against organized crime.” And combating money laundering, which is very important.”

He added, “The process of drafting the guide highlights a large cooperative program for the 11 institutions that guarantee the judiciary, integrity, the Financial Supervision Bureau, offices for combating organized crime, and the relevant institutions, as well as the institution of this work.”

He continued: “We are pleased with the great cooperation that will lead to important results.  

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

A GOVERNMENT ADVISOR EXPLAINS THE MECHANISM FOR SELLING THE DOLLAR OUTSIDE THE CENTRAL BANK PLATFORM, 29 NOV

 A GOVERNMENT ADVISOR EXPLAINS THE MECHANISM FOR SELLING THE DOLLAR OUTSIDE THE CENTRAL BANK PLATFORM

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the aim of the Central Bank’s circular today regarding trading the dollar from outside the platform according to supply and demand, indicating that it will provide high flexibility in supply that contributes to market stability.

Saleh explained in a press statement, “Liberating the operations of buying and selling foreign exchange is not an alternative to the policy of defending price stability and the government’s plan to interfere in the stability of the general level of prices.”

Saleh added, “Families, natural and legal persons in Iraq are hoarding amounts of cash in foreign currency and outside the banking system amounting to billions of dollars and are subject to two phenomena.

(Folks this article is part of the education phase. We still have to see more directly at the citizens and the 3 zero note swapping.)
Please go to the Articles Section to read the entire article.  WOW! WOW! WOW!

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar🔥CBI & US Treasury In Action Today🔥Exciting Time For IQD Hold...

"RV UPDATE" BY MNT GOAT, 29 NOV

 Mnt Goat  

 What will 2024 look like? I will say one thing for sure as it will not be business as usual in Iraq...I will also dismiss this silly notion once again that Iraq must first rebuilt their economy and then watch the value of the dinar grow with it from 1/6 of a penny upwards...the very basis of the economy now is generating billions each month in oil revenues ...So why not reflect this value of the oil reserves alone in the rate of the dinar. If nothing else this wealth should be reflected into the equation of the rate of the dinar...I mean right now, NOT five or ten years from now... we can see the current rate does not reflect the currency value...Oh…but there is much more growth already than just oil too...We know for a FACT the dinar is being “artificially suppressed”.

So, how long will us investors in the IQD have to wait before Iraq is allowed to liberate its own currency? 

Why do I say “now is the time”?  We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such? 

We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it...  We know they have plans for yet more Sovereign Funds to invest their reserves. We know they are making agreements now for “currency swaps” and will no longer be using any US dollars in Iraq as of January 1st 2024

We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry? 

  We know the value of the IQD right now without any further economic development does exceed even pre-1991 era ($3.22) but still at 1/6 of a penny?   We know Iraq now pumps 2/3 more oil than in pre-1991 era.  We know Iraq also has announced 132+ tons of GOLD reserves. We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?

We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why?  Finally, we know, the CBI has told us that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year. Just be patient, the reinstatement is coming and I firmly believe with what we now are 99% sure it is going to be a January 2024 event. WOW! Finally!!! 

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-mnt-goat-24-nov.html

The Iraqi Government Takes A Number Of Decisions Regarding Airports, The Dollar, And General Managers, 29 NOV

 The Iraqi Government Takes A Number Of Decisions Regarding Airports, The Dollar, And General Managers

WEDNESDAY, 11-29-2023, KARAR AL-ASSADI   The Iraqi Council of Ministers took a number of decisions related to the operation of airports, loans, and dealing in the US dollar, the most prominent of which was the approval to separate the management of Iraqi airports from the Iraqi Civil Aviation Authority and link it to the Ministry of Transport, in addition to approving the dismissal and rotation of 12 general directors within the third round for evaluating general directors.

This came during its forty-eighth regular session, which was chaired by Iraqi Prime Minister Muhammad Shiaa Al-Sudani.

According to a statement issued by the Prime Minister’s Media Office, a copy of which was received by Noon News Agency, the session witnessed a discussion of developments in the general situation throughout the country, and a discussion of the progress of implementation of the government program, with its various files and service and political axes, in addition to deliberating on the topics on the agenda, and take the necessary decisions thereon.

In the field of administrative reform, the Council of Ministers approved the dismissal and rotation of (12) general directors, as part of the third phase of evaluating general directors in ministries and entities not affiliated with a ministry, by adopting the standards and mechanisms prepared by the committee formed in accordance with Diwani Order (23059), to evaluate the work and performance of general directors. .

Within the framework of financial and economic reform, the Council of Ministers approved the recommendations of the minutes of the meeting held in the Ministry of Planning regarding amending Paragraph No. (1) of Council of Ministers Resolution (23545 of 2023), according to the following:

1. Commitment that all state contracts executed inside Iraq be in Iraqi dinars, with the exception of:

a. Continuing contracts on external grants and loans and agreements continue to operate in accordance with the loan or grant agreement.

B. Contracts that will be concluded after the entry into force of this decision regarding grants, foreign loans, and agreements, the terms of the agreement will be adhered to, if it stipulates that the contracts be in a currency other than the Iraqi dinar, taking into account what was stated in the circular of the Ministry of Finance on April 27, 2023.

2. The beneficiary party may open a documentary credit for the purposes of importing materials from outside Iraq for the duly contracted project.

3. The beneficiary party may transfer the salaries and wages of foreign workers in the project, as well as companies’ dues and profits in foreign currency, in accordance with the controls of the Central Bank of Iraq.

The Council of Ministers approved the recommendation of the Ministerial Council for the Economy (230272 Q) as follows:

1. The Ministry of Finance’s contribution in the amount of one million dollars, to be paid in two equal installments during the years (2024 and 2025), and the method of payment should be in cash, and the date of the first payment is April 15, 2024.

2. The Ministry of Finance contributes to the (Special Program to Strengthen the Crisis Response Window CRW).

3. The Minister of Finance, in her capacity as Governor of Iraq in the International Development Bank Group, will complete the procedures for subscribing to the contribution, once the Council of Ministers decision is issued.

As a result of the conditions of water scarcity, and the need to confront torrents and floods and harvest water in the winter of the current year, the Council of Ministers approved the Ministry of Finance to allocate an amount of (25) billion dinars to the Ministry of Water Resources for the maintenance of minor irrigation projects, the maintenance of dams and dams, and the maintenance of drilling and fuel machinery.

The Council of Ministers also approved the recommendations of the Diwani Order Committee (65 of 2022) regarding establishing an appropriate tariff for irrigation fees for agricultural lands, according to what was stated in the minutes of the Ministry of Water Resources, dated October 15, 2023, to be implemented in the coming seasons, taking into account attention. The opinion of the Legal Department in the General Secretariat of the Council of Ministers, limited to the Ministries of Commerce and Agriculture, regarding paragraph (5) of the recommendations.

In light of the directives of the Prime Minister to support the agricultural sector and mitigate the effects of severe water scarcity, the Council of Ministers approved the following:

1. The Ministry of Planning included the Iraqi side’s share of (15%) of the loan amount regarding the project to use modern irrigation techniques (equipping center-pivot irrigation systems), and determined the amounts in the budget for next year/2024.

2. Approving (2.5%) commission for the Agricultural Equipment Company, one of the formations of the Ministry of Agriculture, on par with what is in effect in the project to use modern irrigation and mechanization techniques in the aforementioned ministry, based on the price policy controls for pricing goods imported from outside Iraq approved by the Council of Ministers/ Economic Affairs Committee, pursuant to its letter dated August 24, 2008.

3. The Ministry of Agriculture contracted with the Austrian company (BAUER), taking into consideration the opinion of the Legal Department in the General Secretariat of the Council of Ministers.

In the same vein, the Council of Ministers approved the recommendation of the Ministerial Council for the Economy (230321 Q) regarding contracting with the Ministry of Industry to equip modern irrigation systems, excluding the Ministry of Agriculture, according to the following:

1. Article (3/ Contracting Methods) contained in the Instructions for Implementing Government Contracts (2 of 2014).

2. Article (7/First) of Section Three of the instructions to facilitate the implementation of the Federal General Budget Law for the three years.

3. Granting the Ministry of Industry and Minerals the financial authority to negotiate prices, quantities and specifications with the Ministry of Agriculture, within the allocation ceiling of only (100) one hundred billion dinars.

4. Adding Support By 30%

In the air transport and aviation sector, the Council of Ministers approved the following:

1. Separating the Iraqi Airports Administration from the Iraqi Civil Aviation Authority and linking it to the Ministry of Transport/Navigation Services Company, and the company will be renamed to become (The General Company for Airports and Air Navigation Management), based on the provisions of Article (47/Second)

From the Federal General Budget Law for the fiscal years (2023 - 2024 - 2025).

2. The General Company for Airports and Air Navigation shall take the necessary measures to amend its bylaws and founding statement. To be consistent with the company's missions.

3. The assets of all Iraqi airports, linked to the Civil Aviation Authority, shall be transferred to the General Company for Airports and Air Navigation, and the services of workers at those airports shall be transferred to this company.

4. The General Company for Airports and Air Navigation shall replace the Civil Aviation Authority in implementing all obligations, technical, legal and financial, concluded with the Authority, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

5. Forming a joint committee between the Ministry of Finance, the Ministry of Transport, the Council of Advisors, and the Civil Aviation Authority; To implement the provisions of the decision and its financial, legal and technical implications.

The Council also considered a number of topics on the session’s agenda, and took the following decisions regarding them:

First / Approval of the draft law for the Republic of Iraq’s ratification of the Protocols amending Articles (50/A) and (56) of the Convention on International Civil Aviation (Chicago Convention) of 1944, signed in Montreal 2016, which was prepared by the Council of State, and referred to the House of Representatives, based on To provisions of the Constitution.

Second: Approval of adding the (Mundhiriya border crossing) in Diyala Governorate, and the (Arar border crossing) in Anbar Governorate, to Paragraph (3) of Cabinet Resolution (23111 of 2023) for importing fertilizer.

Third: Approval of the draft law to compensate the properties of those affected by the defunct regime, which was reviewed by the Council of State, and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

Fourth: Approval of the draft securities law, which was audited by the State Council, and referring it to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

Fifth: Approval to authorize the Minister of Transport to negotiate and sign a draft memorandum of understanding regarding the development path, between the Ministry of Transport in the Republic of Iraq and the Ministry of Transport and Infrastructure in the Republic of Turkey, based on the provisions of the Treaty Contracting Law (35 of 2015), taking into account the recommendation The Legal Department in the General Secretariat of the Council of Ministers.  https://non14.net/public/162257

Parliamentary Finance: The Government Will Reduce Circulating Liquidity By 10% Next Year, 29 NOV

 Parliamentary Finance: The Government Will Reduce Circulating Liquidity By 10% Next Year

 Information / Baghdad..   Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Wednesday the government’s intention to reduce the liquidity circulating in Iraq by 10% during 2024.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

Al-Karawi said in an interview with Al-Maalouma, “The Sudanese government has begun adopting a series of economic solutions aimed at electronic transition in paying wages and services to government institutions, including gas stations, via modern cards to reduce money circulation mechanisms.”

He added, "Beginning the electronic transition in the circulation of funds in state institutions has several positives that lie in economic advantages in terms of reducing cash liquidity and transferring it to an electronic nature, which will be more controlled, not to mention its contribution to strengthening the financial balances in banks and banks."

He pointed out that "the government's programs will reduce the liquidity circulating among citizens by at least 10% during 2024 if they are implemented in practice."

The Ministry of Oil approved programs to pay fuel refueling fees via electronic cards, in a step that is the first of its kind in Iraq. Ended 25 February  LINK