The oil & gas law is a very important and is considered to be integral to the citizens needs and the economic development of the country. They stop short of telling us what came of the oil & gas law today. Why? ...One reason would be that there is exchange rate sensitivity with respect to the law...An exchange rate to be one that is stronger than the dollar (Per Al-Sudani) will help largely in that regard. So, yesterday they were focusing on the importance of this law and with urgency. A very good sign!!!
Developing the market for the banking sector is huge because look, the ISX shows that their index has been up about 52% in 2023...Why is that if Iraq is just status quo and it's just blah...? It's not.
Once they...get the parallel price to say 1320, 1310 as apposed from 1560...they'll adjust and finish the project to delete the zeros. Remember, it's not off the currency, it's off the exchange rate of the currency. There is a difference. A lot of people are still hung up on that...
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 all…..Happy to be here.
Member: Come on Mark…..Bring on the golden hat!!
MZ: I am so ready to wear that.
MZ: Lots going on in Iraq…They want the US out and they want to move forward. .
Member: Markz, are we all going to get the same rate?
MZ: It is my understanding we will all get the same rate. There are some groups that had pre-negotiated SKR’s …their payout works differently under their structure and may get a different rate….but all of us getting the “internet rate” should get the same rate. . no matter what participating bank or RC you go to.That is what I was told repeatedly.
MZ: “ Exclusive: Iraq seeks quick exit of US forces ,but no deadline set-PM says” This one is from Rueters. Focus on the word “quick” Remember one of the Things President Trump had told us….”We will leave Iraq as soon as we get our dollars” referring to the revaluation.
MZ: This makes sense to have the RV when US forces are gone….Iraq will have a lot more credibility in the region …and Sudani is expecting a “quick exit” which is good news.
Member: 100% sovereignty is the name of the game….
MZ: Yes it is.
MZ: “Ministers discuss with a delegation from the Kurdistan Regional Government the preparations for the 2024 budget” They have already agreed to the 3 year budget….this is good they are working on this and the HCL law.
MZ: “Texas moves to support gold” One of the things Texans will be voting on this year is a Texas gold depository with an alternative payment option in the state of Texas.
MZ: “Oklahoma Bill moves to create gold and silver depository” Hmmm there is a pattern here.
MZ: “Gold is about to start radically outperforming the stock market” With volatility…..gold breaks out.
Member: Mark : Chinese New year is Feb 10. The year of the Dragon. Do you think the Chinese Golden Dragon will release the RV funds to celebrate the New Year?
Member: Still hoping for sooner than that.
Member: Praying this out week/weekend for all the people in desperate situations
Member: I just bought Champagne in case there is a special occasion soon . . .
MZ: Andy Schectman will be joining us for Whiskey and Wisdom tonight at 8 pm est to chat…
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With wide local and international participation.. Baghdad Exhibition opens its 47th session today
Shafaq News/ The Ministry of Commerce announced, on Wednesday, that the Baghdad International Fair will open its 47th session this afternoon, with the participation of 850 different companies from 20 countries.
Ministry spokesman Muhammad Hanoun told Shafaq News Agency, “The Kingdom of Saudi Arabia is the official sponsor of the conference, as 140 companies will participate.”
He stated that “8 Arab countries and 12 foreign countries will participate in the exhibition, namely Saudi Arabia, the Emirates, Jordan, Egypt, Syria, Oman, and Palestine, while foreign countries will include Spain, India, Pakistan, Indonesia, Thailand, Algiers, Azerbaijan, the Philippines, and others.”
Hanoun pointed out that “the exhibition will last for 10 days, starting today and ending on the 19th of this month,” stressing, “We seek through this exhibition to establish real partnerships between the Iraqi and international private sectors.”
Lawmakers are now taking cryptocurrency and blockchain regulations to their states. On January 5, the Blockchain Basics Act, a bill that aims to protect several blockchain and cryptocurrency rights, was introduced in the Nebraska Unicameral Legislature by Sen. Eliot Bolstar, putting the cornhusker state at the forefront of these initiatives.
The act seeks to guarantee the rights of Nebraskans to mine cryptocurrency without restrictions, exert the custody of their cryptocurrency assets, and transact with crypto. It also establishes the exemption of capital gains state taxes for cryptocurrency transactions under $200.
The race for Stablecoin adoption is underway. Stablecoins represent a country’s currency. The current technology is at T+1 settlement. The goal is to reach T + O settlement or instant settlement.
Patriot, the blockchain interbank payment network, already utilizes JP Morgan’s Coin as a Deposit Token throughout the current banking system. This network has already achieved near-zero instant payment system technology.
The goal is to create a Level Playing Field among countries and their payment systems through T+0 settlements. And, Stablecoins are the path forward to reach this goal collectively.
For a Stablecoin to qualify in digital payment systems going forward, they will need a stable price equivalent to the country’s current regulated price on their currency. The use of gold backing each of these Stablecoins will help to achieve this goal.
A parliamentarian suggests that Al-Halbousi’s replacement will be inaugurated on this day, 11 JAN
Information/Private.. Member of the House of Representatives, Suhaila Al-Sultani, suggested on Wednesday that the inauguration session of the Speaker of Parliament will be held next Saturday, while she confirmed that the inauguration of the replacement for the expelled Speaker of the House of Representatives, Muhammad Al-Halbousi, will not exceed the beginning of next week, given the efforts of the political blocs to resolve this issue.
Al-Sultani said in an interview with the Maalouma Agency, “The session will be held at a signed request from 50 deputies according to the internal law, because there is no president who determines the date for holding the sessions,” noting that “there is an arranged meeting of the heads of the political blocs that will determine the identity of Al-Halbousi’s replacement to assume the presidency of Parliament within next period”.
She added, “The political odds indicate that the inauguration of a replacement for Al-Halbousi will not be delayed long, given the need to vote on the laws,” noting that “the inauguration of a replacement for the expelled Speaker of the House of Representatives, Muhammad Al-Halbousi, will not exceed the beginning of next week, given the efforts of the political blocs to resolve this issue.”
Regarding the reasons for the delay in inaugurating the replacement, Al-Sultani confirms: “The legislative recess prevented the position of the next speaker of the House of Representatives from being decided during the past days.”
The representative of the coordinating framework, Thaer al-Jubouri, had confirmed in an interview with the “Maalouma” agency, that “the identity of the replacement for the expelled Speaker of the House of Representatives, Muhammad al-Halbousi, has been identified,” while he confirmed that there is a consensus among the political forces affiliated with the coordination framework to nominate Representative Mahmoud al-Mashhadani for the presidency of Parliament.