Coffee with MarkZ. 03/14/2024

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 Thursday to Mark, Mods and fellow RV’ers

Member: today is 3.14/ Pi day 

Member: Mark: Yesterday I talked to a guy working with maintaining banks ATM/s and such and He told me that all banks will have USTN's by the end of March.

MZ: I really love these personal stories. 

Member: I still wonder if we have to sign an NDA?

MZ: At this point my banking contacts don’t think we have to sign an NDAunless you are a Zim holder. I hope it is accurate. 

Member: Anyone heard anything about Iraq going by itself - not all countries?

MZ: I think it’s important to bring this up and hope I don’t cause a panic with it. A person in our community had an interesting conversation. He has a personal relationship with a banker. 

MZ: Quote: “Met for dinner with a banking executive. After a couple plates of wings and a couple bottles of wine the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial. He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall.  The bolivar and rupiah are in the first round but will be later on….maybe even into 2025. It all depends when these countries banking certs (certificates?) are completed. He did not know about the shotgun start and said it will be easier to roll them out piecemeal. He also said it was to early to speculate on Zim bonds. He said eventually in the next 15 years or so all currencies will be at 1 to 1. 

MZ: Guys, this is just one bankers opinion….so nobody panic. But I take it as a very good sign. And its best to be prepared……or What if it does roll this way ????? I thought it was worth sharing . 

MZ: I’m a boy scout. Best to be prepared for all the different contingencies. So just keep in mind “what if?” 

Member: Hope for the best but prepare the worst. 

MZ: It is encouraging to hear an active conversation about it and that it’s going soon. 

Member: Lots of massive amounts of double dipping…..triple dipping will happen if it goes that way…imo

MZ: Yes it would …maybe they want that???  An extended period of wealth. More money over time going into the system instead of a big flood all at once?   To me this would be a tremendous opportunity to get more currency over time. But , I am still hearing it will all go at once. Something to think about. 

Member: If the US Dollar is only worth .78 cents now…. that makes it real close to the .76 Iraq Reinstatement. You could say almost 1:1

MZ:I am still hearing that the majority of the currencies will be going all at once. But, its best to be prepared.  

Member: As long as Dinar goes over $3 I’m fine with Iraq going alone.

Member: ​​MZ, if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float?

MZ: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values. 

Member: Mark any idea what the Iranian rial will go for?

Member: Mark used to think it could be close to the dinar….but a bit lower. 

Member: so many problems if all currencies don't go together/quickly ... 

Member: I don't think they can spread it out like that because of the impact to international trade. Countries are too dependent on one another to have that big of a swing in values

Member: If they do it that way…I bet we will be taxed

Member: Frank26 stated last night that we WOULD have to pay taxes when we exchange our currency.

Member: ​​I believe we'll pay a nominal exchange fee at the bank & we'll get hit with taxes at the end of the year when we file. Pretty standard stuff, no big mysteries. Check around for the best fees first.

Member: Just pray Marks sources are right and this exchange will not be taxed. 

Member: BRICS actions will speed up RV, I Think.

Member: Anybody guess what the Zim may exchange for?

MZ: The last thing I heard and I hope its accurate is $30-$50 million USD per 1 100T note. None of us will know for certain until we get there. 

Member: I was told it may revalue at .11 cents after dropping 6 zeros off the 100T notes…..I like your numbers much better …lol

Member: I kept asking questions each time I went into bank. Different tellers over time, 3 wks ago a younger teller replied “we were just talking about that” (Dinar, UST,etc) older teller shut her down

Member: Bank Story: On Monday A Friend Recieved A Shipment of IQD, Within Hours He Recieved A Phone Call From JO Morgan Wealth Manager. My Friend Does Not Have A Chase Account Nor A JO Morgan Account.

Member: When I bought my Dong at Chase 2 years ago they said they would one day exchange it

Member: Why do people think Chase and JP Morgan are two separate entities? They merged in 2000.

Member: Lots of “food for thought” today…..Thanks Mark for the information

Member: Remember to keep your thoughts positive…..the best is yet to come. 

Member: No One Knows When, If or How or What. All that happens in Life is All in Almighty God’s Timing. Everything. All. Of It. Just keep praying & trusting Him.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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Experts: Dependence On Oil Revenues Must Be Stopped, 14 MARCH

 Experts: Dependence On Oil Revenues Must Be Stopped

Economical  03/13/2024   Baghdad: the mainstay of the emirate  Economic affairs specialists urged the government to revitalize the policy and plans to diversify the economy and move it away from unilateral dependence on oil exports. They indicated that following this policy contributes to creating job opportunities that accommodate unemployed workers, activating the private sector, and attracting foreign investment.  

During the past period, Prime Minister Muhammad Shiaa Al-Sudani asked all ministries to submit monthly reports on the revenues generated by each ministry in order to study them and develop the necessary plans to raise them in order to gradually reduce dependence on oil revenues. According to the government’s plans, the financial reforms aim to liberate the economy from sole dependence on oil. And creating real job opportunities  And revitalizing the private sector.

Financial Advisor Dr. Mazhar Muhammad Salih recently identified two directions for the essential features drawn up by the government curriculum in the scope of confronting the unilateralism of the economy and the almost absolute dominance of oil over the management of economic life in the country. The second direction is to spread the effective role of development funds financed by oil revenues.

Academic and economic researcher Dr. Abdul Karim Al-Issawi, speaking to Al-Sabah, believes that economic diversification contributes to attracting direct foreign and local investments, as the diversification policy plays a major role in making the non-major sectors of the economy contribute to increasing the gross domestic product by large percentages of up to 50 percent.

He continued that following this policy requires an appropriate environment through legislation and laws that facilitate the entry process for investors, and thus protect the national economy from external shocks, as this importance is particularly evident in oil-producing developing countries whose main incomes depend on oil prices in global markets according to the supply mechanism. The demand is in addition to a group of political and natural factors.

Al-Issawi stated that the economic diversification policy also contributes to supporting the agricultural sector and achieving development, and aims to support the prices of agricultural products that are used as raw materials for some important industries such as the textile, sugar and vegetable oil industries. And the canning industry.

In turn, the Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hussein, told Al-Sabah: The policy of economic diversification contributes to confronting fluctuations in oil prices and export earnings that affect the rate of current spending of the general budget, and thus reflects negatively on the level of gross domestic product growth.

She added that the economic diversification policy also works to develop integration and links between different sectors, calling at the same time to adopt concrete measures to support the tourism sector and increase investment in tourism projects, taking into account the fight against corruption by creating a safe environment for investment and preventing illegal acquisition of contracts. And projects  investment.    Edited by: Ali Mowafaq  https://alsabaah.iq/93387-.html

"WHICH IS IMPORTANT FOR THE FLOAT" BY FRANK26, 14 MARCH

 KTFA

FRANK26:"WHICH IS IMPORTANT FOR THE FLOAT"..............F26

 

Sudanese Advisor: Implementing the banking system will complement the electronic automation policy

3/13/2024

Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, explained the importance of introducing the comprehensive banking system at the ports, while noting that this system is a positive integration with the automation policy.

Saleh said in an interview with the official agency, followed by Mawazine News, that “Rafidain Bank is one of the largest Iraqi government commercial banks in terms of the weight of its assets and operations, and it dominates nearly half of the assets of the Iraqi banking market,” indicating that “entering the comprehensive banking system with the branches of Rafidain Bank in... The country's border crossings (sea, air and land) are considered a positive integration with the current port and customs automation policy.”

He added, "The comprehensive banking system provides an important auxiliary tool for the banking system to enhance government cash flows immediately by collecting government levies, especially from various services or customs duties in the country's border regions."

Saleh continued, “Activating the comprehensive banking system of Rafidain Bank in its border branches, as it is a system for digital networking of banking operations between the center and the branches, and at the same time is an important enhancement to the implementation of the strategy of proceeding with the unified treasury account, which provides high governance, in knowledge and transparency of the flow of government revenues, and strengthens At the same time, the movement of government cash flow budgets is regular.”

LINK

 

Iraqi Dinar - IQD - Dinar Update - Confidence - Electronic - Cash Flow -...BY MILITIAMAN

Parliamentary Committee: Passing The Oil Law Will Solve All Problems With The Region, 14 MARCH

 Parliamentary Committee: Passing The Oil Law Will Solve All Problems With The Region

Mawazine News – Baghdad  The Parliamentary Oil and Gas Committee reported that the Oil and Gas Law is the only solution to all the problems of the center and the region, and that it will establish a road map for the relationship between the two parties, while it confirmed that so far the law has not come from the government to Parliament despite 11 amendments being made to it.

A member of the Oil and Gas Committee, Nazem Al-Shibli, said in an interview with the official newspaper, followed by Mawazine News, that problems are accumulating between the center and the region, and if the oil and gas law is approved, all disputes will be resolved, as it is one of the most important laws that define the rights of each of them, noting that it needs to be resolved. The state administration continues to administer an unchanged strategic plan for the Prime Minister and has fixed committees.

He explained that there are many obstacles related to the law, including the issue that every four years there is a political orientation and a new prime minister, and after that comes a new political situation and then elections, and all of these matters complicate the scene, pointing out the difficulty of resolving problems with the region without the oil and gas law, and this We made 11 amendments to the law and it never reached Parliament.

Al-Shibli stressed that although Parliament asked the government to send important laws and the government sent many projects; But it did not send this law, noting that the amendments are only with the government and reach readings, the project is withdrawn, technical committees are formed between the region and the center, and the situation remains as it is.

https://www.mawazin.net/Details.aspx?jimare=243771

Coffee with MarkZ. 03/14/2024

"YES... WE WILL NEED MANY BANKS TO EXCHANGE... KNOW YOUR BANK!!! BY FRANK26, 14 MARCH

 KTFA

FRANK26: "YES... WE WILL NEED MANY BANKS TO EXCHANGE... KNOW YOUR BANK!!!...F26

Wells Fargo Abruptly Terminating Customers’ Bank Accounts, Say Attorneys General in 16 States, Demanding Immediate Freeze on Lender’s Alleged Debanking Practices

Henry Kanapi  March 10, 2024

 

More than a dozen state attorneys general (AGs) are accusing banking titan Wells Fargo of abruptly terminating customers’ accounts without warning.

In a letter addressed to Wells Fargo CEO Charles Scharf, 16 Republican AGs across the country accuse the trillion-dollar lender of debanking customers in a political and discriminatory manner.

The AGs say Wells Fargo has started a new trend that looks at clients’ political views as a basis for retaining banking access.

“Within this context, Wells Fargo’s decisions to debank Republican candidates and gun industry participants reveal a new troubling trend…

Blanket prohibitions and policies against providing service to certain customers lead to the inevitable question – who is next? Which types of companies or people will Wells Fargo determine cannot be allowed as customers? Is this why Wells Fargo apparently closed the accounts of former Republican candidates Lauren Witzke and Pete D’Abrosca on the same day in 2021?”

The AGs say the alleged pattern may be in violation of state laws.

“Wells Fargo should cease its efforts to discriminate based on ESG (environmental, social and corporate governance) objectives, and publicly commit to serving Americans in a fair, nondiscriminatory, and lawful manner. States possess meaningful authority over banks under civil rights and unfair and deceptive acts and practices (UDAP) statutes.” 

The 16 AGs end the letter asking Wells Fargo to stop its debanking policies and respond to its concerns by April 4th.

The AGs who signed the letter include Austin Knudsen of Montana, Tim Griffin of Arkansas, Raul Labrador of Idaho, Todd Rokita of Indiana, Kris Kobach of Kansas, Luz Murrill of Louisiana, Lynn Fitch of Mississippi, Andrew Bailey of Missouri, Mike Hilgers of Nebraska, John Formella of New Hampshire, Dave Yost of Ohio, Alan Wilson of South Carolina, Jason Miyares of Virginia, Patrick Morrisey of West Virginia, Sean Reyes of Utah and Bridget Hill of Wyoming.

LINK