Evening News with MarkZ. 12/11/2023

Iraqi Dinar🔥Al Sudani Started His Journey For New Exchange Rates Releasi...

"RV UPDATE" BY FRANK26, 11 DEC

 Frank26 

 We're at the stage now where there's no need to look for anything.  There's a need to watch everything that's coming out.  Everything that's going to be coming out is the ambrosia of our study, the reward of our years of studying together.  

There's only one thing left on the CBI's and Sudani's part of the monetary reform...bring out the new exchange rate and the new national currency that belongs to the Iraqi citizens and to their future.  That' the one thing that's left.  

  There is no more guessing.  The World Bank has just told the whole world Iraq is about to raise the value of its currency.

Question: "How long will we have to exchange IYO?"  The American dollar 3-zero notes are still legal tender.  They're from the turn of last century!  We still have 3-zero notes...and they've never been expired.  But in this case it's different.  IMO I think they'll probably give you within a year.  Therefore it could be a year, six months, 3 months ...

Of course they [the banks] are going to verify it [your dinars upon exchange].  I love when people say, 'Hey Frank I need my Certificate of Authenticity...So I can give it to the guy at the bank to prove this is real dinars.'  Who told you that?  'The guy that sold me the dinars...'When you take your dinars to a bank they are not going to say let me see your certificate of authenticity.  They will tell you if they are real or not.

  The CBI meetings are in Dubai right now...they are coming to a conclusion.  Were the CBI meetings discussing, should we use this rate, should we do this, this this, that?  No.  What they were discussing is, 'Are we going to release it on this date at this rate and this is what we have to do and this, this, this and this.'  Okay!  Now these meetings IMO are coming to a conclusion.  Yeah, they are working a few things but it's over and done with.

KRG delegation, oil and gas companies’ reps address resuming oil exports, 11 DEC

KRG delegation, oil and gas companies’ reps address resuming oil exports

ERBIL (Kurdistan 24) – A negotiating delegation of the Kurdistan Regional Government (KRG) consisting of a senior team of the Ministry of Natural Resources met with oil and gas production companies on Sunday in Erbil.

The meeting covered the most recent developments in the negotiations between Erbil and Baghdad regarding the oil laws and budget, as well as the actions taken by the KRG to protect the region’s constitutional rights and find a solution.

The meeting also expressed the Kurdistan Region’s desire to resume oil exports as soon as possible with the representatives of the companies, which requires finding a common understanding of all parties on the cost of production and transportation of oil.

Moreover, the meeting addressed the challenges faced by oil companies in the past few years, caused by a combination of global conflicts and the economic repercussions of the COVID-19 pandemic.

Finally, both sides decided to continue such joint meetings to find common solutions, resolve outstanding issues, and resume oil exports, set to play an important role in the economic recovery of the Kurdistan Region and Iraq.

The export of Kurdish oil through the Iraq-Türkiye Pipeline has been halted since March 25 after Iraq claimed victory against Türkiye at a Paris-based international court for allowing the KRG to independently export its oil.

Earlier on Dec. 5, the Association of the Petroleum Industry of Kurdistan (APIKUR) expressed its concern that Kurdish and Iraqi natural resource officials did not invite representatives from the organization to bilateral meetings.

APIKUR member companies complained they have “neither been included in these meetings nor been invited to participate in any future meetings between the KRG and GOI [Government of Iraq].”The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)

kurdistan24.net

"RV UPDATE" BY MARKZ, 11 DEC

 MarkZ 

  [via PDK]  ...I am hearing the push is to be well underway by [January].  I’m hearing they still want money moving by Christmas.  But nobody knows the timing…

 I have one real positive banking story. A banker who was working at one of the large banks that is planning on being part of all of this…they work in wealth management...he figured out the RV was real and started buying currency. He switched jobs because of pressure and went to work at another bank in a lower level of wealth management …

Well they told him they were preparing now for all of this…The RV and revaluations. This is another real world report from a member of our community telling us the banks are ready and this is real. This is very exciting to me...Upper level and mid level bankers are now being informed.  I know of 5 stories like this just this month on people we personally know getting a “heads up” from bankers.

 ...a little ad...has been rolling all over Iraqi television lately. Talking about the dinar and how great it is. They are running ads talking about the future of the dinar...

Iraqi Dinar🔥Unveiling New Exchange Rates Expected $3.22 By CBI🔥iraqi din...

Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC

 Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC

Economy News _ Baghdad

Oil prices rose in early trading on Monday, continuing their gains for the second session as the U.S. seeks to revive its strategic reserves, providing some support, despite continued concerns about a glut of crude and weak fuel demand growth next year.

By 01:19 GMT, Brent crude futures rose 11 cents or 0.2 percent to $75.95 a barrel, and WTI crude futures increased seven cents or 0.1 percent to $71.30 a barrel.

The two crudes jumped more than 2 percent in Friday’s contract settlement, but fell for a seventh straight week, the longest weekly decline since 2018 as concerns continued over oversupply.

Despite the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or the group known as OPEC+, to cut production by 2.2 million barrels per day (bpd) in the first quarter, investors remain skeptical that supplies will fall as production growth in non-OPEC countries is expected to lead to a supply glut.

This week, investors are squeaming interest rate indices from meetings of five central banks, including the U.S. central bank, and U.S. inflation data to see their impact on the global economy and oil demand growth.

https://economy-news.net/content.php?id=38361