The Security Restriction Has Proven To Be A Failure... 3 Benefits Of “Importing The Dollar” And Recognizing The Parallel Market
Baghdad today – Baghdad Today, Wednesday (November 29, 2023), the Diyala Chamber of Commerce reviewed the existence of 3 positives for importing the dollar from abroad into Iraq, noting that the Central Bank officially recognized the existence of the parallel market and its influence.
The head of the Diyala Chamber of Commerce, Muhammad al-Tamimi, said in an interview with “Baghdad Today” that “the Central Bank giving some banks the green light to import the dollar to meet internal demand is a step in the right direction and carries in its content 3 positives, the most prominent of which is creating a greater supply and meeting customers’ needs at a more flexible pace,” expecting “The dollar will witness a gradual decline after the arrival of more shipments.”
He added, "The security restrictions surrounding the mechanisms for selling the dollar within the parallel market have proven to be ineffective and have caused prices to rise more than once," pointing out that "the step reflects government recognition of the parallel market and its influential role in shaping the exchange for buying and selling the dollar."
He pointed out that "the dollar crisis will remain and the difference between the official and the parallel will decrease, but not to the level of significant convergence, because a large portion of imports come from outside the platform to merchants and companies, which means that the parallel market will continue to suffer from pressure."
Earlier today, a source in the Central Bank of Iraq revealed the arrival of “dollar” shipments to Baghdad International Airport, imported by Iraqi banks.
The source confirmed to “Baghdad Today,” “The continued arrival of dollar shipments through Baghdad International Airport, imported by Iraqi banks to meet customer requests.”
He explained, "It is hoped that additional shipments will arrive within the next few days."
The Central Bank of Iraq had directed banks to meet the stipulated requirements for the dollar at the official rate, while the rest of the requests for the dollar are made according to supply and demand, which means lifting the ban on trading in the dollar, and making it permissible in the parallel market. LINK
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 Wednesday evening everyone!
Member: Lets see what good news Mark has for us tonight..
MZ: We are going to cover some things we didn’t get to this morning.
MZ: The chatter on the boards- I am certain you all are starting to see this…..A number of bankers I know are seeing “Pending” on the screens instead of “on hold”. Which is what they have seen on a number of currencies….So for the first time bankers are reporting seeing pending now. Depending on the bank…different rates are showing like $4,50 or $4.60 on the dinar.
MZ: We don’t know if this is a test…or this is “it”. We don’t know if they are priming or prepping the system. But I can tell you that is indeed what I am hearing. If I am hearing that – other intel providers with contacts in banking are no doubt hearing this as well. This is our biggest and best rumor for this evening.
MZ: MilitiaMan spoke about this –this morning:” An economic expert shows 3 advantages of the electronic payment system” The money movement is now much more efficient. This is necessary for when this revaluation occurs.
Member: As I understand it- Jan 1st is the latest this can drag out?
MZ: I would never put that in absolute concrete but…..it does appear you could be correct about that. Iraq has indicated that and the world has indicated that….and middle eastern countries have indicated that.
Member: Jan. 1 is start of Iraq fiscal year for many countries.
MZ: “As investors dump dollars, Gold prices will soar” Investors are selling dollars at the fasted pace in over 12 months.
Member: If Iraq doesn’t go by Jan 1st it will create quite a mess for them IMO
MZ: “Nobody wants US trading bonds” Any takers??? Nope. They were once the symbol of the US economic might. They have now fallen out of favor with serious consequences.
MZ: I included this one again….”BRICS Plus, An alternative to the current world order” They continue to talk about this as a new alternative….
Member: MilitiaMan said Iraq is going international. -get ready
Member: Bo Polny has stated that a market crash is coming in December. I can’t wait for it and everything seems to be lining up.
Member: Yea I can hardly wait!!!
Member: NASA and weather experts have alerted that a solar storm can hit the Earth on November 30, causing a minor blackout of radio and GPS signals.
Member: Everyone stay safe……Thank you Mark for the encouraging news tonight. See you all in the AM
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.
At some point Project Odin Begins: Starlink EBS Active, X, New Financial System, 10 Day Movie, New Currency Rates effective, Trump Return.
On Mon. 1 Jan. all gold/asset-backed currencies across the Globe would be on par 1:1 with each other; in the US Social Security benefits will be much higher and the SS R&R payments would start on a monthly basis.
In three to six months the Rodriguez Trust will begin to administer “universal basic income” for citizens of all GESARA-compliant countries. The amount per individual or family will depend on the status, needs, employment level and age of the person/family and will work to encourage people to work if they can.
Global Currency Reset:
Wed. 29 Nov. Texas Snake: It could happen at any moment, banks and exchange centers are trained and ready, it is mostly political at this point with the number on nations involved. He has 5 states he is responsible for with about 40 centers. They are prepared. “We cannot have two US currencies at the same time, so how do they cover this situation? They create a meltdown in banking and the Securities Markets. They suspend trading and access to your funds. Then they announce the return to asset backed currencies and direct you to take your currency to your bank to exchange for the new Treasury backed currency. We foreign currency holders will be exchanging at the same time, so not to panic.”
Wed. 29 Nov. Wolverine: “The tip from Mike Bara RV, on MarkZ Whiskey and Wisdom, tonight was that his bond people told him the RV will arrive this Thursday 30 Nov. or Friday 1 Dec.”
Tues. 28 Nov. Bruce: On Wed. 28 Nov. the new Iraqi Dinar Rate will be printed in the Gazette. Currency dealers will be changing their currency rates Wed. 28 Nov. night after midnight. A top Wells Fargo Bank source said Tier4b would be exchanging either Wed. or Thurs. of this week. Another source said Tier4b would be exchanging on Thurs. 30 Nov. On Wed. 29 Nov. the Sovereigns and Chinese Elders will be paid (starting overnight Tues. into Wed. overnight). Depending on how that goes will determine when Tier4b will be notified to set appointments. One Source said that notification for Tier4b (us, the Internet Group) will come after midnight Wed. night, early Thurs. morning 30 Nov. Restitution and Reclamation Allowances (a lump sum payment) and a significant increase in Social Security starts the first week of Dec. for ages 62 and over. NESARA came in on Thanksgiving night 11-23-2023 at 11:11pm. President Trump was planning on coming back in the first week of December.
Wed. 29 Nov. MarkZ: “Dinar rate announcement is likely in the next couple days. A Wells Fargo high up contact said it’s likely within the next couple of days. A Military Contact said it’s within a week.”
Wed. 29 Nov. TNT Call:Our wait is almost over. Iraq has a bunch of articles out today about the dollar crisis ending really soon. They are showing people at the bank opening accounts and getting electronic cards. The Three letter agencies are still saying the approval has been given and they are working it through the system and it could happen any minute between now and the end of the month (tomorrow 30 Nov). Bank Story: A member talked to the district manager of his bank this morning, who checked the Dinar Rate on his computer and it said, $4.51 and had a pending rate change. The bank manager was excited and said he had never seen that message before.
Kurdistan Region and Iraq Unite to Tackle Housing Challenges
In a significant move towards enhanced intergovernmental cooperation, a committee for housing affairs has been set up between the Ministry of Interior of the Kurdistan Region and Iraq. This initiative is a concerted effort to tackle and collaborate on the challenges and policies related to housing within the Kurdistan Region and the broader Iraqi context.
A United Front for Housing Challenges
This formation of the committee is a testament to a unified approach to address housing issues in both regions. It marks a shift towards intensive collaboration and cooperation, aiming to improve the living conditions of residents and promote effective urban development. The committee’s responsibilities are set to include urban planning, housing regulations, and potentially, the allocation of resources or the commencement of joint projects.
Intergovernmental Cooperation for Urban Development
The establishment of such a committee indicates a significant instance of intergovernmental cooperation. It’s an initiative that aims at enhancing living conditions for residents and managing the growth and development of urban areas effectively. This move shows a comprehensive understanding of the challenges that urban housing presents and the need for joint efforts to overcome them.
A Beacon of Progress
The creation of the committee is not just a step towards addressing housing issues but also a beacon of progress in terms of intergovernmental relations. It sets a precedent for future collaborative projects, not just within the housing sector, but potentially across other sectors as well. This initiative can pave the way for a more integrated and unified approach to problem-solving, highlighting the importance of joint efforts in the face of common challenges.
It has exceeded 7 decades.. The infrastructure of Iraq’s oil export system threatens its only source of budgets
Following the deterioration of the infrastructure of the Iraqi oil export pipeline system, which is more than 70 years old, a recent press report highlighted a set of risks facing the Iraqi oil sector.
Experts have reported that the oil sector is the sole source of Iraq’s annual budget and it relies heavily on the daily pumping of millions of barrels of oil to different continents worldwide. However, there is still a need for development projects that can enhance the production capacity of crude oil to six million barrels per day.
An official from the Oil Marketing Company (SOMO) stated in a press report that they have plans to undertake projects to enhance the marine export pipeline system used to transport oil. However, due to the delay in approving the budget, and further postponement after the approval, the implementation of these projects has been affected. As a result, these projects are likely to be postponed until next year.
Iraq has abundant oil resources, but war and corruption have left the country with a dilapidated infrastructure.
The anonymous official explained that the pipeline system aims to increase Iraq’s crude oil export capacity to 6 million barrels per day.
Last year, the Basra Oil Company announced a major project to develop marine export pipelines. The project involves laying two 48-inch pipelines, rehabilitating the ports of Basra and Al-Amaya, building a marine platform, and installing measuring devices to enable flexibility in exporting different types of oil.
In May, the Iraqi Council of Ministers awarded the project to establish the third marine export pipeline to the Basra Oil Company, under the custody of the Dutch company Boskalis. The pipeline has a diameter of 48 knots and an operational capacity of two million barrels per day. The project was awarded for approximately $420 million. However, on June 21st, the Iraqi government suspended the decision related to the third marine pipeline project without providing any reasons.
The Arab World News Agency (AWP) reported that Iraqi oil expert Kovind Sherwani stated that the current government is highly interested in developing the country’s oil sector at all levels. With the recent increase in global oil prices, the financial abundance makes the implementation of large-scale projects feasible in the near future.
Sherwani stated that Iraq is currently experiencing significant challenges with its marine and land export systems. There is a pressing need to upgrade the marine export pipelines that transport oil, as the existing pipelines are in a state of disrepair and are susceptible to leaks, despite undergoing frequent repairs.
He went on to say, “The current export system in Iraq has been in place for over 70 years and urgently needs new projects to create export pipelines that will significantly increase capacity. However, implementing such large-scale projects requires huge financial investments and must be included in the budget to make them binding on the Iraqi government.”
In December of last year, SOMO unveiled a plan to upgrade marine pipelines in order to increase exports by 900,000 barrels per day.
According to Iraqi oil expert Bilal Khalifa, it is estimated that the cost of developing a marine export pipeline system would be more than 15 billion dollars. This is one of the reasons why the project is being delayed due to Iraq’s unstable economic conditions, despite the presence of international loans to complete it. There may also be technical or legal reasons that are not yet known.
Al-Khalifa emphasized the urgent need for upgrading the marine export pipeline system. The current system is outdated and almost in ruins, making it incompatible with the current production capacity. Therefore, the development process must be expedited to keep pace with the growing demand.
According to S&P Global, loading volumes at Iraq’s aging facilities in Basra are unlikely to increase in the near future. This could prevent any meaningful gains in production and hinder the country’s ability to benefit from higher oil prices.
According to oil expert Hamza Al-Jawahiri, the development of the oil-carrying pipeline system will increase Iraq’s export capacity by about 1.5 million barrels per day. This is a positive development for Iraq, especially if there is an increase in production and export by a decision from OPEC (the Organization of the Petroleum Exporting Countries).
Al-Jawahiri stated that significant oil projects often face obstruction and delay in their progress. This is contributing to the slow development of Iraq’s oil and gas sector over the past few years. Hence, the Ministry of Oil needs to focus on these projects, especially since the country relies solely on oil to support its financial budgets.
During his speech, he emphasized the importance of engaging with specialized international companies to develop the marine export pipeline system and create new pipelines. He pointed out that there are companies with expertise in this area, and national oil companies can benefit from their experience by supporting their work.