Dollar sees decrease against Iraqi dinar in Baghdad and Erbil markets
Shafaq News/ The US dollar declined against the Iraqi dinar on Thursday in Baghdad and Erbil markets, with the closure of the central Al-Kifah and Al-Harithiya stock exchanges.
In Baghdad, as the exchanges closed, the dollar's value dropped to 155,900 Iraqi dinars per 100 dollars, contrasting with the morning rate of 156,500 dinars per 100 dollars.
The exchange shops in local markets also witnessed a decrease, with the selling price at 156,750 Iraqi dinars and the purchase price at 154,750 dinars for every 100 dollars.
In Erbil, the dollar exhibited a downward trend, with the selling price at 156,200 dinars per 100 dollars and the purchasing price at 156,100 dinars for every 100 dollars.
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 evening Mark Z, Mods and everyone
Member: Welcome Dec 1st tomorrow- welcome RV!!!!
Member: Mark, Will this most likely happen on a weekend…or a weekday …or does it matter?
MZ: If you would have asked me that question years ago I would have said it would most likely happen on a weekend. Now, all bets are off and I think it could go any day. Even in the middle of the afternoon.
MZ: Chatter is off the top…I continue to hear more contacts in groups saying the group leaders have been paid but not allowed to distribute yet. But they are prepared … The moment they do distribute that means Mr. C Has been seen….as we understand it.
MZ: “ Iraq is moving towards applying the principal of monetary sovereignty . What does that mean? This is one of my favorite articles out of Iraq today. They are talking about the sovereignty of their money. They need to get rid of all currencies and US dollars and be their own master.
MZ: “ Iraq cabinet pushes for state contracts in dinars” Meaning all the state contracts will be valued in dinar….and paid in dinar. This is all part of de-dollarization and .sovereignty of their money.
MZ: “Brazil to become a member of OPEC oil coalition” This was a enormous announcement today. They are becoming a full blown member of OPEC.
Member: Bond holders to update their bank info today before 3pm, any additional on that one?
MZ: News from the bond and group side has been great but still wiaitng for someone to have “economic receipt” (got paid) before I start bouncing all over the place.
Mark on whiskey and wisdom, you and Mike mentioned a rate of 16.00 and 28.50 rates. Is that years after the reset or possibly at reset?
Member: Hello Mark, I'm pretty new to your channel and this is the first time I've caught you live. Dumb question. Who is Mr C (Mr. Cottrell) and why are we waiting on him to be paid?
MZ: He is a signatory for the dollar refunding project. He signs off when our currency goes to gold backed. There are other people/signatories that will sign off on other parts of the process….he is one of the cogs….he is the one I have the closest relationship with. .
Member: for the 2nd time a manger at my Chase branch asked me if I plan on staying w/then in the near future…? I purchased Dong from them in the past.
Member: It was gonna be Oct, then Nov before holiday, then by 1 Dec, it just keeps moving, feel like boy who cried wolf. Waiting....... when??
Member: I thought everything has been done. What is the hold-up?
Member: There has to be something we're waiting for to trigger this.. I wish I knew what that was!
Member: We may never know…..just hoping it still happens before Christmas.
Member: Mark- what does your gut say?
MZ: My gut is still screaming ….but I’m going to catch hell if I tell you what my gut is screaming….It will be all over the boards. ….but my gut is screaming “In the next 2 days of for sure by Jan 1st” Just a guess….a hunch…..but that’s what my gut is saying. But there is a pot of anticipation in the bonds and group sides.
Member: Mark if it doesn't happen in 2 days I still love you cuz I know you're right about it happening by January 1st
Member: Thanks Mark and mods…..see everyone in the morning
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.
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Iraqi Cabinet pushes for State Contracts in Dinars
As part of financial and economic reforms, the Iraqi Cabinet has endorsed recommendations to conduct all state contracts within Iraq in Iraqi dinars.
Exceptions will be made for ongoing external grants, loans, and agreements. New contracts involving foreign grants, loans, and agreements may adhere to foreign currency terms agreed upon in the Ministry of Finance’s April 27, 2023 circular.
Beneficiaries can open documentary credits for importing project materials and transfer foreign currency for salaries, wages, and company dues, subject to the controls of the Central Bank of Iraq (CBI).
It looks like Iraq is pushing for its own monetary sovereignty... Article: "Iraq is moving towards applying the principle of monetary sovereignty. What does that mean?" This is actually really good news...This is what we've been bugging Iraq to do - get out of the shadow of the United States and do your own thing...
In other words, our little child is wanting to be all grown up and make a move to be on its own. This is exactly what we've been looking for...Once we kick the training wheels off of Iraq, you have to trust the people who are making the decisions about the Iraqi dinar make smart ones and not screw everything up...
In 2020 we know they almost went bankrupt and they ended up devaluing their currency. After about a year they increased it again. Not to where it was. We used to be able to get 1,190 for every dollar. Now we're getting what 1,310 for every dollar...We need it to go in the other direction.
The less amount of dinars we get per dollar the better it is for our investment. Eventually what you want...it to cost you more dollars than it does dinars. You want to spend $2.00 for 1 dinar. That's the direction we want to go in.
All those gurus out there making the claim that because of the amount of oil they have, 'Oh, my God, they're going to be reinstated. The Iraqi dinar is going be extremely valuable. Pimpy doesn't know what he's talking about.' What did I say? I say, stay grounded. That's not true. Not true at all.
There are other hurdles Iraq has to go through in order for the exchange rate to increase in value. I said this a million times, Iraq relies too much on oil to fund their government so it's not going to go up just because they got tons of oil.