I will add… Iraq is ONLY allowing JPM to come in and help with cross-border currency exchange (trade payment) in non-dollar (for now, till the U.S. RV’s gold), Because JPM is widely recognized across multiple jurisdictions for international currency exchange and because JPM wants a cut of the fees.
But once JPM helps the Dinar become widely interchangeable across the FX Iraq *may kick JPM out, Just like China is shoring up its regional banks into the BIG state-owned banks, BRICS are countries that believe in state control of finance.
Why? Look at where the U.S. capitalist financial system is taking us right now. Over the cliff.
Quick Update – J.P. Morgan Selected to Run New Trade Bank in Iraq
Operating the bank the Trade Bank of Iraq will give banks access to the financial system of Iraq. Which has huge oil reserves foreign bank companies have not operated in the country since a policy of nationalization in the 1950’s and 1960’s.
What this means is that once Iraq join the Forex market, facilitated by increased foreign banking participation, it could potentially lead to a more streamlined process for currency exchanges.
This could benefit individuals holding IQD in America, providing them with more accessible channels for converting IQD into USD.
Since JP Morgan Chase is the leading bank. Iraq’s engagement with Western banks, facilitated by J.P. Morgan, will contribute to its increased integration into the global economy.
This integration’s positive effects on currency exchange mechanisms, will make it more seamless for individuals holding IQD. Iraq’s oil reserves make it an attractive market.
J.P. Morgan’s role could pave the way for Western banks to participate in financing projects related to Iraq’s oil industry and other sectors, fostering economic growth. Which will assist with the Oil & Gas Law/HCL. Which the citizens have been asking for.
Western banks, including J.P. Morgan, could provide financial support for the development of oil infrastructure projects in Iraq. This could include funding for exploration, drilling, production facilities, and transportation infrastructure.
So this development for Iraq is very important. I mean a report came out that 235 ATMs to be installed in Erbil. The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically. About 80 service centers will be installed in Erbil to accommodate approximately 235 ATMs from various banks. This is monumental considering what Al-Alaq stated in regards to the monetary reform and the parallel market they he said would end very soon. Which implies there will only be one exchange rate. The black market rate will fade away. Which will give Iraqis purchasing power.
The adviser to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Thursday that the financial situation in Iraq is stable and good, in light of expectations of rising demand for oil globally.
Saleh said in a press statement that “the federal general budget for the year 2024, remains stable with an expenditure ceiling of about 199 trillion Iraqi dinars and allocations in investment expenses of more than 25 percent of the total spending cap, and oil exports are stable at their rates of about 3.4 million barrels of oil per day and at the price of a barrel for the purposes of calculating budget revenues from exported oil of 70 dollars per barrel,” pointing out that “the oil market indicators are still exceeding the price specified in the budget by more than 10% until the moment.
”He added that “the expectations of energy markets are on the escalation of the needs of continued demand for crude oil in general,” noting that “the future outlook for Iraq’s financial situation is stable.”He pointed out that “there is high stability with our entry into the second month of this year, which indicates that the budget is in a state of balance and carries some surpluses, so the situation is stable, good and healthy.”
“Spoke to Charlie today and he is very, very and very happy. I can’t say anything, but I wanted you to know that God has heard our prayers and God is working. We will be celebrating soon. On Sun. 28 Jan. on a radio broadcast in Colombia a Pentecostal Group Leader said he was distributing funds to members.
This group was the lynchpin to start the bond payments. It has more than 3 million members. It has happened. That leader has about 80 thousand members, and it has started guys.”
Thank you MarkZ for all your time, and encouragement daily….. PDK
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
Member: Good Morning to Mark and all the Mods
Member: I think we're very close to this thing popping!....It would be ironic if it goes tomorrow because its “GROUNDHOG DAY!!”
MZ: From Iraq: “Finance committee responds to US sanctions : Let’s sell oil in currencies other than the dollar!” The US has been holding in ransom any oil purchases in the US dollar forcing it to go through the US treasury. Then the treasury doles it out to Iraq when they have been good little slaves. … Iraq wants to counter the sanctions imposed by the US treasury against Iraqi banks.
MZ: This is huge . I believe Iraq is done with the US Treasury and the US government.
MZ: Another note coming out of Iraq: “Contract signed for new residential city near Baghdad” Will include more than 100,000 units. They are busy working on housing for their people. This is a large scale project worth big bucks….How are they going to pay for it???
MZ: : Everyone should watch this video……if you are a currency investor. Watch the Video “The end of the road” by Monkey films on Amazon Prime….End of the Road: https://tubitv.com/movies/451883/end_of_the_road
MZ: What is not being covered in our national news right now: “ New York Community Bancorp shares tumble after earnings miss 71% dividend cut” Their stocks are tanking. Banks are failing all around us. They have record losses
MZ: “US regional banks fall after New York Community Bancorp surprise loss” Then look at the markets……It is so manipulated.
MZ: “Deutsche Bank to cut 3,500 jobs” This was announced this morning …Banks are hurting.
MZ: “Russia witnesses significant surge in BRICS transactions with nations currencies” this goes along with Iraq wanting to do oil transactions in other currencies besides the US….This is huge.
Member: It is being reported that Iraq has depegged from the dollar and told US we will take oil payments in other currencies. To depeg from the IS dollar should very shortly lead to pegging to the basket
Member: Any news from redemption center workers?
MZ: They continue to be prepared.
MZ: My Iraqi contacts have said that the CBI has sent the new rates to the government . So the rumor is the CBI has released the rates to the Iraqi government. Now- when will they pull the trigger???
MZ: I have heard similar things from US bankers- that all rates are now set and fixed. So imo it’s “any moment” A number of contacts are still remaining silent because they have signed an NDA. .
Member: What are the redemption centers going to require for us to turn in our Iraqi dinar?Driver's license utility bills Social Security card?
Member: call a local bank and ask what is necessary to open a new account AND then you will know for sure what to bring.
Member: I wish we knew what our NEW currency will look like?
Member: Was Told by WF a month ago that my dinar investment was a scam. Yesterday they called me and " look forward to working with me when my invest comes in. Hmmm
Member: Ariel put out yesterday that is you hold Iran Rial you have a GOLD MINE
Member: Hopefully it will still be in the first basket.
Member: Jim Willie has always said that the Iranian Rail will RV first, and all others will follow
Member: Ramadan is March 10th. Can you get your crystal ball out and let us know if you think we will go by then?
Member: The lunar new year on the 10th (or the 8th prior) welcoming the year of the dragon ….may be the timing?
Member: Have a feeling good news is coming our way one day soooon ◡̈
Member: Really hoping to give my 2 weeks notice on Monday……Come on RV!!!
Member: Please let Groundhog day be the day we are waiting for!!!
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY.
Hi Mnt Goat, Thank you for all your hard and dedicated work in keeping us informed about the dinar. Do you have any idea about what we will be looking at in fees/spreads when we go to the bank to exchange? And is it negotiable? Same question regarding taxes, so many so called gurus over the years have said you won’t have to pay any income tax on what you exchange, I personally find that astonishing anyone would think the ‘IRS’ wouldn’t be right there with their hand out when we finally exchange. Please let us know your thoughts and/or concerns in regards to these few questions. And again, thank you for all that you do for each and everyone if us.
Mnt Goat answer:
First of all, the IRS will not be at the bank during your exchange. The banks will not be taking out any taxes on exchanges. They never do for hard currency. It will be up to you to file afterwards maybe quarterly if your proceeds are high enough. Consult with a professional to find out this limit otherwise you will file annually as normal. Unless the IRS officially makes a separate ruling on these currency exchanges, they do not fall under the category of minor exchanges up to $250, anything over this is taxable and not exempt. This will most likely be considered a capital gain and subjected to its rules. I am not a tax advisor or financial planner and so when the time comes, please consult a professional. If the situation changes from the current IRS code, the IRS will have to issue something is writing for us.
WARNING * WARNING *WARNING
I want to WARN everyone now. Regardless of what you think about these intel gurus, YouTube intel sites and other idiots then have done more harm than good to the community of investors in these currencies, especially in the Iraqi dinar. People get desperate for information and so they believe almost anything no matter how preposterous and fake it is. Just google “Iraqi Dinar revalue” as see the mountains of crap that comes up.
Again I ask everyone to stay firm and don’t sell you dinar. This is going to happen. We must continue to pray and pray hard. The world, not just your country, is at war. It is a new kind of war. It is a war of propaganda and spirituality. The satanic entities are running ramped. Like Joe Biden says in his campaign trail, he is battling for your souls, “The Soul of the Nation”. They almost have complete control over you now as it’s down now in 2024 to the final battles in this war.
I encourage everyone to listen to Julie Green’s and Kim Clement’s prophetic words this week. God is going to suddenly turn this around and the Iraqi dinar revaluation is part of the turnaround too. The prophets tell us this summer is NOT going to be the usual lazy, hazy days of laying back and enjoying the summertime. It is going to be filled with turmoil, earth changes (volcanoes, earthquakes, tornadoes, etc) and chaos. It is not going to be pretty! Get ready and be ready!