Coffee with MarkZ and Andy Schectman. 04/10/2024

"RV UPDATE" BY PAULETTE, 10 APRIL

  Paulette  

This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar.  This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD.   Looking it at the other way, this is 0.0007575 USD to 1 IQD.  If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD.  If they drop 2 zeros:  13.2 IQD to 1 USD or 0.07575 USD to 1 IQD.  If they drop 3 zeros:  1.32 IQD to 1 USD or .7575 USD to 1 IQD.  Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD

...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less.  If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD. 

 We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD.  Realize, they post how many IQD it takes to purchase 1 of another currency.

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-14-march.html

  Community Comment:  "...The rate doesn't matter but "freedom of movement of capital" is important.  That is Article 8 compliance."  They cannot be Article 8 compliant if the country is functioning under a MCP.  A MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition.  Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days.  The parallel rate is still around 14% difference.

 Question:  "I thought they met all the requirements [to join the WTO]?"  All the articles say they have legislation that needs to be passed and the next meeting is in the "middle of the year.

Question:  "When is Iraq supposed to be in the WTO?"  Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations.  Accession Committee next meeting with Iraq is planned for the "middle of the year".

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-11-march.html

'THE ISSUE OF ACCEPT OR NOT AMERICAN BASES IN IRAQ AND THE DESIRE OF SOVEREIGNITY OF IRAQ" BY MNT GOAT, 10 APRIL

 MNT GOAT

Looks to me like Iraq is much, much better off than Kuwait and even almost any of the middle eastern countries in the region. Iraq has gained up as the second largest oil producer in the region only to Saudi Arabia. So what is Saudi’s currency values at? It is rated at 1 SRI = .26 cents USD.  

So, is the IQD being suppressed for POLITICAL reasons? You tell me….

Why is the KWD currency rate not better reflective of what they have? It should be way below 1/6 of a penny even compared to the IQD, if the IQD was in fact determined correctly according to the true assets and not playing a political game with it.

 So should the KWD then be much lower, but we all know it’s not. Get it?

 The US is playing a game with Iraq and the IQD and most importantly, it’s the people. It’s people are suffering from it the most. War sanctions are over and its time to give them back their currency along with their dignity.

Oh… now I get it! 😊 But what Kuwaiti does have are permanent US military bases, air bases for drones and stockpiles of weapons and ammo. Oh… now I get it. Go figure! Saudi also made a deal under Trump to also sell oil in US dollars. But now they are wavering from this deal and joining up with BRICS.

This too is what the US wants from Iraq, military bases.

  But Iraq wants their sovereignty. 

Can they make a deal to have both?

 But any deal will have to contend with the Iranians who are leading this campaign to rid Iraq of the American forces. Of they don’t want American forces in Iraq. They are the only thing standing in their way of making Iraq as their puppet state.  

"IMPORTANT IRAQ NEWS:AFTER SAUDI ARABIA, IRAQ RANKS SECOND AMONG THE FIVE OIL-PRODUCING COUNTRIES IN THE REGION – URGENT" BY MNT GOAT, 10 APRIL

AFTER SAUDI ARABIA, IRAQ RANKS SECOND AMONG THE FIVE OIL-PRODUCING COUNTRIES IN THE REGION – URGENT

BP statistics in the last two decades show that the tightening of sanctions against Iran and the increase in Iraqi oil sales have pushed Iraq to assume the position and market of Iranian oil in the region.

When talking about the Iranian economy, oil is considered one of the most important variables that must be examined. This black gold has affected the economy such that with the flood of its sales in global markets, the Iranian economy is witnessing great prosperity, and with the decline of its sales, it is on the path to recession.

Studies have previously pointed out the importance of oil revenues and the difference in oil sales statistics from three reliable sources, and the reason for this difference has been discussed in detail.

Iraq, Saudi Arabia, the Emirates, and Qatar are leading countries in the oil industry in the region, similar to Iran. Today, if we want to see the performance of Iranian oil sales compared to these countries, we must take a look at the oil sales statistics and examine them carefully.

This report, prepared by the “Aquairan” economic website, reviews Iran’s share of oil sales in the past two decades.

IRAQ IS AT THE FOREFRONT

Oil statistics provided by British Petroleum (BP) show that since 2004, Iran has become the second oil exporting country among these five oil countries after the Kingdom of Saudi Arabia. This year, Saudi Arabia’s oil exports reached 6 million and 800 thousand barrels per day, while it reached Iran’s exports are 2 million and 700 thousand barrels.

At that time, Iraq was the fourth largest oil exporter among these countries and sold only 1.5 million barrels of oil per day.

Over time, Iran continued to maintain its position among these five countries until 2011, but Iraq’s exports did not remain constant as was the case in Iran, but rather rose to reach 2 million and 400 barrels of oil per day.

In 2011, with the beginning of the series of oil sanctions on Iran, Iranian oil sales suddenly suffered a severe blow, and this blow continued, even after the nuclear agreement in 2015, as Iraq ranked second in the region and Iran fell to fourth.

The positive impact of the JCPOA on the Iranian oil market contributed to Iran’s oil export position rising by one point among the five countries and reaching third place in 2017, but this success was short-lived. With Trump’s accession to American power and his withdrawal from the nuclear agreement, as well as the beginning of the Corona pandemic, Iran declined again in 2021, and ranked third with a daily export of 1.9 million barrels.

This comes at a time when, in that year, Iraq exported 3.4 million barrels of oil per day and ranked second after Saudi Arabia among the five oil-producing countries in the region.

The increase in Iraq’s oil sales and the tightening of oil sanctions on Iran in these two decades caused a change in the position of Iran and Iraq in oil sales, and Iraq was able to seize second place.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar | WTO Set IQD New Exchange Rate On screen | Iraqi Dinar News...

"MOST GROUPS ARE LOOKING FOR OVER THE WEEKEND" BY MARKZ, 10 APRIL

MARKZ 

Member:  MarkZ, Are you STILL cautiously excited about the first of the week???

MZ: Most groups are looking for over the weekend or first of next week…..let’s see what happens. 

MZ: The news continues to be great….hopefully these group leaders have it right and we are rolling around to the banks next week……we will pray its true and cross our fingers.

MZ: MilitiaMan did another great one about the mechanics and fundamentals with artickes and data ect……and the huge international fair where they are discussing investments in Iraq. Be sure to go watch it. 

MZ: We continue to hear “scares” about the US military and strikes in Iraq. They will probably continue until the US military leaves Iraq. I hear that is the goal and what they are trying to do. And when they are gone…we expect to get paid. 

MZ: Things look great and I’m not hearing anything negative. I am certain the boards are lit up with rumors today. We just have to wait and see what is real …We are getting so many things thrown at us….we don’t know yet what is accurate. 

 MZ: “China central bank set to cut key rate, boost liquidity Monday to aid economy”  This is a pivot. But if we have a reset-none of this matters. 

MZ: From Zerohedge:  “US budget deficit soars by 50% in December as fiscal collapse under Biden Accelerates”  This administration loves abusing the checkbook.

What Is The Economic Feasibility? An American Website Monitors The Flow Of Billions Of Gulf Dollars Towards Iraq, 10 APRIL

What Is The Economic Feasibility? An American Website Monitors The Flow Of Billions Of Gulf Dollars Towards Iraq

 
Economy     Iraq     breaking     Gulf investments  2024-04-07 07:09
 
Shafaq News/ Al-Hurra website highlighted the trend of Gulf funds towards investing in various Iraqi sectors during the past two years, indicating that this trend raises many questions about its economic feasibility.  The website mentioned in a report seen by Shafaq News Agency:
 
Gulf capital has been going to Iraq at an accelerated pace over the past two years, which reflects the attractiveness of Baghdad as a new investment destination for the Gulf Cooperation Council countries.
 
After decades in which Iraq suffered from the scourge of wars and internal violence, Saudi Arabia, Qatar and the UAE entered forcefully through massive economic investments in a country where Iran was able to gain a foothold after the fall of Saddam Hussein's regime in 2003.
 
Last Friday, the Iraqi Ministry of Planning announced the signing of 12 memorandums of understanding with Saudi Arabia for “specific investment projects,” according to a statement received by Shafaq News Agency.
 
The ministry said that the signed memorandums of understanding "came with the aim of enhancing cooperation in a number of qualitative investment projects in Iraq."