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: Welcome Back Mark!! GTSY!! Hello Everyone!!
Member: We could sure use some good news today.
MZ: The news I get continues to be fantastic. I hear things are well underway on the bond side. Money is moving and I heard that from many sources that I have great faith and trust in. Makes me feel good. Really good.
MZ: We have bond movement. Not sure it it’s enough yet- but we have bond movement. Things are progressing. We just want it faster. But, this is the first time I have seen bond movement like this. With real spendable money.
MZ: I get reports from Iraq and bankers that things are well underway. And when they get to a certain point they will pull the trigger for us.
MZ: We don’t know when it’s going to happen but the earliest I am hearing is yesterday or today…..the latest I am hearing is May 9th.
Member: So when we get to 30% of the bonds paid – we could go?
MZ: That is what I am hearing …When they have paid 30% of the historic bonds- they let her rip.
MZ: It has certainly taken longer than we all thought it would.
Member: Did the bond people get US notes for payout?
MZ: I am sorry but I cannot answer that.
Member: Now there is a US delegation heading to Baghdad?
MZ: US delegations have been going back and forth to Iraq for some time- in preparation. Over the weekend we had Sudani point blank saying that they are preparing and it would be the CBI’s responsibility for a revaluatuion. Things are phenomenal
Member: I am surprised there is not leaks from Sudani’s government
MZ: They have done an amazing job ….very impressive.
Member: Have they released the small notes in Iraq yet.
MZ: As of this morning there are no small notes on the streets there…..yet.
Member: Quote from Al Alaq regarding 1 hundred billion foreign dollars in reserve and 150 tons of gold in England?
Member: I read last night that when sudani tells cbi then tells imf then it has a policy to be announced to the universe.
Member: Charlie Ward once said - 3+ yrs back - that it'd all drop like dominos and the RV (4b) would be in those dominos. A lot of what he said back then has come true. Just saying.....
Member: I believe dinar alone first 100%. The rest later. That's what Ariel Frank and MM think Mark. dinar first domino
Member: Angel_1776- said the earliest time he heard of was yesterday and it could be anytime between yesterday and May 9th is his latest dates he has heard so far.
Member: Went to a Chase bank to open a account in CA. j asked the banker about the Iraqi Dinars and he confirmed its happening.
Member: Nader said it could be June 2024. We all thought he was crazy- But, He could be right.
MZ: I think we will beat his projection.
Member: A recent article on Vietnam says they can change the rate whenever they want.
MZ: That is pretty clear. Vietnam is prepared to change their rate.
Member: Been here for a while, still not clear what an historic bond is...
Member: There are many kinds. Chinese railroad bonds, Dragon bonds, German bonds….Mexican bonds, Super Pechelli bonds………over a hundred years of historic bonds waiting to be paid in many countries.
Member: would you please explain the relationship between the "bond holders" and the dinar revaluation?
MZ: We have covered this many times. It’s part of the reset……The historic bonds are part of canceling the books on the old system before we can move on with the new.
Member: I think bonds tell the whole story. I feel like a circus seal with new hoops to jump through every week now. Tired of jumping. LOL
Member: The important thing to focus on is the end and not getting frustrated and throw in the towel just before it happens
Member: Did you know that May the 5th is the Orthodox Easter. Maybe that will be when it happens?
Member: It’s also Cinco De Mayo…..so we could celebrate with Margaritas lol
Member: Tomorrow is Nisan 17: Resurrection day, the day Noah’s Ark landed, and the day the Red Sea parted. Sounds like a Biblical Day to me!! Let’s Go!
Member: Chinese like numbers. Tomorrow date is pretty cool….4-24-2024….sounds lucky to me.
Member: Mark if the switch is flipped during the day (whenever) will you be doing a live podcast or will you wait until your scheduled evening time?
Member: Mark has always said he will come on instantly as soon as it happens. ..anytime – any day.
Member: Thanks Mark and Great to see you - Get Rested - Seeya tonight! Feel better.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in.
Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities.
Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency.
The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window.
Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Continuing legacy: Biden extends Bush-era executive order safeguarding Iraq's assets
Shafaq News / Across successive American administrations, the enduring legacy of protecting Iraq's assets, initially set forth by former President George W. Bush, endures.
This legacy encompasses reaffirming a presidential executive order to safeguard the "Iraqi Reconstruction Fund," established to secure revenues from oil sales and shield them from potential legal challenges. Furthermore, a suite of directives aimed at safeguarding Iraq's assets has been extended, marking over two decades since the country's regime change.
US President Joe Biden recently signed a decree extending the national emergency status related to Iraq's situation for another year. This extension occurs against ongoing challenges to Iraq's reconstruction efforts, peace restoration, and development of its political, administrative, and economic institutions.
Notably, these obstacles pose significant threats to both Iraqi and US national security and foreign policy objectives. Therefore, President Biden has deemed it imperative to sustain the national emergency declared under Executive Order 13303, addressing Iraq's stabilization.
Order 13303
Executive Order 13303 was crafted to shield the Iraqi Reconstruction Fund and other assets of interest to Iraq. Former President George W. Bush identified a threat of seizure or legal actions against the Iraqi Reconstruction Fund, Iraqi oil, petroleum products, and their revenues. This situation was deemed an unusual and extraordinary threat to US national security and foreign policy, prompting a national emergency declaration.
The order nullifies any seizure, judgment, or other legal action against the Iraqi Reconstruction Fund and associated assets. Additionally, it prohibits American citizens, residents, and entities from filing lawsuits against Iraqi funds. Per the US National Emergencies Act, failure to renew the executive order within 90 days renders it void.
Reconstruction Fund
The Iraqi Reconstruction Fund emerged post-2003, replacing the arrangement under the Oil-for-Food Program, wherein the United Nations managed Iraqi oil sales revenues.
In the mid-1990s, a United Nations Security Council resolution concerning the Oil-for-Food program was issued, allowing for the sale of a portion of Iraqi oil in exchange for purchasing medicines and food during Saddam Hussein's regime, which suffered from international sanctions following his invasion of Kuwait in 1990.
This arrangement continued until 2003, when a new resolution was passed by the Security Council, lifting most of the economic sanctions on Iraq, contingent upon resolving issues related to the Kuwait invasion, such as compensation and prisoners.
Regarding this, Iraqi writer and political researcher Aqeel Abbas stated that "when the sanctions were lifted, a problem arose as there were numerous claims against Iraq by hundreds of companies that suffered losses from Iraq's invasion of Kuwait, in European countries and elsewhere."
He added to Alhurra that "Iraqi embassies at that time did not attend court sessions to defend or reduce the compensations, resulting in courts issuing default judgments with exorbitant amounts."
Abbas, currently residing in Virginia, affirmed that "there were judicial orders freezing Iraqi funds until the claims ruled by the courts were fulfilled."
"Therefore, what saved Iraq from these claims was the protective order issued by former US President George Bush in 2003," according to Abbas, who pointed out that "under the presidential executive order, Iraqi funds in the Iraqi Reconstruction Fund were protected as if they were American funds."
American influence
In 2010, the Iraqi Reconstruction Fund was dissolved by a UN decision, which also terminated all international guarantees of immunity granted to Iraq from compensation claims.
Instead of the dissolved fund, an account was opened under the Iraqi Central Bank (CBI) at the US Federal Reserve Bank, where all revenues from Iraqi oil sales were deposited.
However, the United States renewed the presidential executive order annually to protect Iraqi funds from any legal pursuits.
Former Iraqi Parliament's Finance Committee member Ahmed Hamah Rashid stated that "maintaining the status quo means that the fate of Iraq's funds will remain tied to the United States, which represents a strong bargaining chip in Washington's hands." He explained that "this issue cannot be resolved except by repaying all debts, which will take years if not decades."
On the other hand, Abbas pointed out that linking the issue of protecting Iraqi funds from legal pursuits to the United States "grants Washington significant leverage over Baghdad," adding that "resolving the crisis requires a political decision, as happened with Greece and Argentina, for example, by enlisting a reputable and influential law firm to be given full authority."
Currency devaluations on a global scale is really picking up steam. We are about to see currency interventions begin to take place on a massive scale.
This does not mean we're about to see a revaluation many of you are looking for going forward. It just means that Credit Valuation Adjustments are about to begin on every sector of the market including Forex.
We could see some currency price adjustments, but we are looking for those CVAs to be backed by real values based on the releasing of caps on gold.
From challenges to collaborations: IRAQ-TURKIYE relations in focus
Shafaq News/ Iraq and Turkiye's relationship spans a spectrum of challenges and collaborations, from addressing security concerns related to the PKK to fostering robust trade ties and navigating complexities in the oil and water sectors.
This report sets the stage for a closer examination of the multifaceted dynamics shaping their bilateral interactions.
Turkiye's Military Operations And Iraq's Evolving Response
The Turkish Armed Forces have been conducting cross-border military operations against the Kurdistan Workers' Party (PKK) since the 1980s.
The PKK maintains bases in the mountainous areas of northern Iraq near the Turkish border. This proximity allows them to launch attacks into Turkiye.
In contrast, the Turkish army has established several military bases at strategic points in the Matin mountain range in Iraqi Kurdistan, citing the expulsion of Kurdistan Workers' Party militants as justification.
In July 2015, a two-and-a-half year-long ceasefire broke down, and the conflict between Ankara and militants of the PKK – recognized as a terrorist organization by Turkiye, the U.S., and the European Union – entered one of its deadliest chapters in nearly four decades.
Since that date, the conflict has progressed through several phases. Between roughly 2015 and 2017, the violence devastated communities in some urban centers of Turkiye's majority Kurdish southeast and – at times – struck into the heart of the country's largest metropolitan centers. From 2017 onward, the fighting moved into rural areas of Turkiye's southeast.
As the Turkish military pushed more militants out of Turkiye, by 2019, the conflict's concentration shifted to northern Iraq and northern Syria.
In 2020, the first mission triggered a series of subsequent operations with similar names and methods of execution, each justified differently.
Between June and September 2020, Ankara launched Operation Claw Eagle and Claw Tiger, characterized by airstrikes carried out by aircraft and drones targeting PKK positions in Mount Sinjar. Additionally, ground operations were conducted in Haftanin (Zakho District of Duhok) against Kurdish guerrilla forces.
In April 2021, the Turkish army launched Claw-Lightning and Claw-Thunderbolt operations along the Iraq-Turkiye border near Metina, Zap, and Avashin-Basyan.
In April 2022, Ankara commenced Operation Claw-Lock in northern Iraq, establishing several bases in Duhok Governorate.
Iraq views Turkish airstrikes and bases as a violation of its sovereignty and territorial integrity. These operations commonly cause civilian casualties and damage infrastructure alongside the killing of PKK members.
The Iraqi government also worries that Turkish military presence in northern Iraq could destabilize the Region and empower Kurdish separatists within Iraq.
The PKK conflict, spanning about four decades, has been a persistent challenge, with Turkiye expressing disappointment in the Iraqi government's historical "reluctance" to acknowledge and ban the PKK as a terrorist organization.
However, recent developments have signaled a shift in Iraq's stance.
Last March, Turkiye proposed the establishment of a "joint operation center" with Iraq to combat the Kurdistan Workers' Party (PKK), a move that has received a positive response from Baghdad.
Previously, a high-level Turkish delegation, including Foreign Minister Hakan Fidan, Defense Minister Yasar Guler, and National Intelligence Organization (MIT) head Ibrahim Kalin, visited Baghdad for a top security meeting with Iraqi counterparts. This meeting marked the second round of discussions, with the first round held in Ankara in December.
During a press conference in Ankara, Brigadier General Zeki Akturk, the Turkish defense ministry's media, and public relations advisor stated that Iraq and Turkiye are ready to sign a strategic framework document. This document aims to establish a joint operations center as part of Ankara's efforts to combat terrorism.
"Both countries are positively inclined towards our proposals for the Joint Operations Center and other cooperation efforts in combating terrorism," said Akturk. He also noted that Iraq recognizes the PKK as a threat.
According to a Turkish defense ministry official, the proposal aims to enhance cooperation in addressing the PKK's activities along the Iraq-Turkiye border.
Following the high-level talks, Iraq announced the designation of the PKK as a "banned organization."
Moreover, the Kurdistan Region is always confirmed to turn the Region into a source of conflict with neighboring countries.
In a TV interview last February, the President of Kurdistan Region, Nechirvan Barzani, was asked if Turkiye coordinates with Erbil when launching strikes against PKK in the Region; Barzani explained, "The (Kurdistan) Workers' Party is a severe headache for the Kurdistan Region and Iraq as well. They do not value the legitimacy of the Kurdistan Region's institutions and threaten Turkiye from our territories. While we completely reject the principle of turning the lands of the Kurdistan Region into a source of threat to our neighbors, whether this neighbor is Turkiye or Iran."
He rejected that PKK, as opponents of Tehran and Ankara, "make the Kurdistan Region a safe area to create problems for these countries. It is regrettable that the PKK plays a very negative role in this context and uses the mountainous areas of the Kurdistan Region and tries to create problems for Turkiye. This is absolutely unacceptable from our side."
Iraq-Turkiye's Growing Economic Partnership
Iraq and Turkiye have a long history of trade relations; Turkiye's most important exports to Iraq include chemicals and products, the oilseed sector and its derivatives, grains and legumes, furniture, paper and forest products, the construction sector, and medicines.
On the other hand, Iraq's most important exports to Turkiye are mainly oil.
On Saturday, the Turkish Ministry of Trade revealed that Turkish exports to Iraq would soon increase to $15 billion and $20 billion by 2030.
Turkish Minister of Trade Omer Polat told Anadolu Agency that "Iraq has always been one of the most important countries for Turkiye in terms of trade and economic relations," noting that "Iraq's share of Turkish exports over the past ten years exceeded 5% of the country's total exports."
Polat clarified that "Turkish exports to Iraq encompassed most sectors, with the trade volume between the two countries reaching $24.2 billion in 2022 and $19.9 billion last year."
"Our exports to Iraq decreased by 7.2% compared to the previous year, reaching $12.8 billion, while our imports from Iraq decreased by 31.1% to approximately $7.2 billion during the same period. Our foreign trade surplus was $5.6 billion last year."
Polat emphasized that "exports increased by 24.5% during the first three months of 2024 compared to the same period last year, reaching $3.4 billion, while imports decreased by 46.2% to $835 million."
The Turkish Minister of Trade concluded by indicating that "Turkish exports to Iraq are poised to reach $15 billion soon and $20 billion by 2030, with the completion of the Development Road project."
Oil Diplomacy: Tensions And Renewed Efforts In Iraq-Turkiye
Energy Relations
The energy dynamics between Iraq and Turkiye have played a pivotal role in their diplomatic ties, given Turkiye's energy consumption and reliance on imports, primarily from hydrocarbons, due to limited domestic resources.
Iraq, particularly the Kurdistan Region of Iraq (KRI), has emerged as a crucial partner for Turkiye, particularly in oil and gas reserves.
Over the years, Turkiye has become a key strategic ally for the KRI, facilitating the export of approximately 500 thousand barrels per day (mb/d) of oil through the Ceyhan port. However, tensions escalated in March 2022 when Turkiye halted oil exports amounting to 450,000 bpd from Kurdistan following a compensation order by the International Chamber of Commerce related to "unauthorized" oil exports by the KRG between 2014 and 2018.
The crux of the dispute revolves around accusations that Turkiye breached a 50-year-old pipeline transit agreement by allowing oil exports from KRG-controlled areas without Iraq's consent.
Baghdad contends that Ankara and the Turkish state energy company BOTAS violated the terms of a 1973 Iraq-Turkiye pipeline agreement by handling oil from Kurdistan without official approval.
Iraq asserts that only the state-owned marketer SOMO has the authority to manage crude exports via Ceyhan.
While most of Iraq's crude exports pass through southern ports, the northern route via Turkiye still contributes around 0.5% of the global oil supply.
The halt in exports contributed to the oil barrel to reach 80$ at that time.
During a visit to Erbil in November 2023, Iraqi oil minister Hayan Abdel-Ghani expressed optimism about reaching an agreement with the KRG and foreign oil companies to resume oil production from Kurdish oilfields.
Despite Turkiye's prior announcement that the pipeline was ready to operate, Iraq maintained that it had yet to receive official notification and highlighted unresolved financial and technical issues.
However, recent discussions between the Iraqi PM Mohammed Shia Al-Sudani and U.S. President Joe Biden emphasized the importance of ensuring Iraqi oil reaches international markets, signaling a renewed effort to reopen the pipeline between Iraq and Turkiye.
In response, the Association of the Petroleum Industry of Kurdistan (APIKUR) expressed readiness to engage in discussions with Iraqi and KRG officials to resume oil exports, stressing the need for guarantees regarding financial obligations per existing agreements.
Water Crisis: Turkiye's Dams And Iraq's Droughts
The water problem between Iraq and Turkiye primarily revolves around the flow of the Tigris and Euphrates rivers, which originate in Turkiye and flow through Syria and Iraq.
The construction of dams and large irrigation systems by Turkiye has led to a massive reduction in water flow into Iraq by 30-40%, causing droughts and water shortages.
In addition, Turkiye's Southeastern Anatolia Project (GAP) and the Ilısu Dam project are particularly contentious. They have resulted in a 40% cut in water flows into Syria and Iraq, impacting agriculture, energy production, and the overall water supply in these countries.
This reduction in water flow has been a major source of tension between the two countries, with Turkiye's projects leading to droughts in Iraq and exacerbating the water shortage crisis in the Region.