[via PDK] ...we know we're super close... Most banks...have been fully trained all the way down to the teller level about currencies. And now it's a matter of throwing the switch and getting us toll free numbers and setting our appointments...I think we're very close to ...going...
Somebody put something out about taxation, or this this would be a taxable situation for us - it is not a taxable event...It's BS don't buy it - not a taxable event period.
We're looking for 3 green lights – military - Treasury – and Wells Fargo in that 0rder...They got the green light from the military...we did receive confirmation that we have the Treasury's green light in the last couple of days...we did get the green light from Wells Fargo yesterday...
So in other words, we have all three green lights now covered - military - Treasury - Wells Fargo. The banks are bringing all employees in the banks up to speed on what we're about to witness and it's called Currency Training Protocols - They have been teaching to get everybody down to the teller level. Which remember the tellers didn’t know anything about this...the point is, it's really coming down to the wire.
Securities: We are studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges
5/15/2024
Baghdad
Chairman of the Securities Commission, Faisal Al-Haims, confirmed today, Wednesday, that the authority is studying the possibility of
licensing brokerage companies to trade in shares on international stock exchanges.
Al-Haims said in a statement received by Al-Iqtisad News, “The Authority has begun studying the licensing of brokerage companies to trade in shares on global stock exchanges through a technical committee within it.”
He added, "The Authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade in shares on international stock exchanges for the first time in Iraq."
He explained, "This step comes in the context of protecting the rights of citizens to trade through brokerage companies that practice this activity without an official license from the Securities Commission, which seeks to develop the financial markets in the country," noting that "the Commission is working to provide a stimulating and regulated investment environment." “It contributes to enhancing confidence among investors and raising Iraq’s position in global financial markets.”
Article: "Sudani directed the extraordinary session of the council for next Sunday, the federal budget schedules for the year of 2024" We have the vote for the speaker of the House of Representatives on Saturday and then we have a special session about the 2024 budget schedules with the Council of Ministers then they go to the HOR...
I think they're at the stage where they just got to jump and do it. They have to interlink with the region and...the world so it's going to be a timed event. I don't have the time, the date for that but I think we're going to see it shortly...
There is an existence of the Chapter VII charter of the United Nations that has not yet been resolved. It's... still restricting the sovereignty at the international level. The pressure is on and it looks like the UN is waving that flag to Iraq reminding them that there is that component still.
Iraq is going to be watching and waiting for their purchasing power...They have revenue streams from all different angles...You got natural resources galore - oil, liquid natural gas, tourism... agriculture...Are they going to be able to support a value of there currency? Of course they are. They were $3.22 back when oil was at $35. What if you added on to that all those things I just mentioned?
Article: "Floating the dinar returns to the forefront will the Central Bank of Iraq resort to it and what the risks?" The bottom line is Iraq is going to make an exchange rate change. They've told you about it...A managed float is a mix of a fixed and a float... Are they going to change it to a free float? Probably not because there's a lot of risks at that stage...Ultimately what is their goal? Raising the value of the dinar against the dollar. That's what they're going to be trying to do..
We all know the project to delete the zeros has been on the table now for many years but it was taken off the table, back on the table...The delete the zeros is all about what? Creating value.
1310 to buy widgets is in the hundreds of trillions and their budget is in the hundreds of trillions. They don't even have that much money printed. They don't even have it on their M1 etc at this point in time. They never have. There's got to be an adjustment...
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Article: "Iraqi Council of Ministers approves the 2024 budget schedules"
The next step would be to take those schedules and deliver them to the House of Representatives. If we see that, that's going to be powerful because everybody's gonna be biting their nails because it could very well suggest something could happen prior to that happening. It's a nail biter...
Article: "Specialist: Floating the dinar is economic suicide"
Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change. You don't.
Non-oil revenues...Iraq has the largest sulfur deposit in the world. They can tap into that. It's going to be part of their non-oil revenues. The amount of natural resources Iraq has is off the charts. Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.
The Prime Minister receives the Vice President of the World Bank for the Middle East and North Africa
5/15/2024
- Baghdad
Prime Minister Muhammad Shiaa Al-Sudani received Al-Abaa, Vice President of the World Bank for the Middle East and North Africa.
The Prime Minister's Media Office said in a statement, seen by Al-Iqtisad News, that "Prime Minister Muhammad Shiaa Al-Sudani received the Vice President of the World Bank for the Middle East and North Africa region."
Are you guys ready - are you paying attention and waiting for big announcements or “extraordinary plans” to be revealed in Iraq on Sunday - according to Sudani?
Now this has something to do with the budget. Finishing the 2024 budget. I tell you what - announcing a different rate would sure fix all of those problems including the budget. We are all praying this means something big...
Question: Could we be in the banks next week?
MarkZ: If we get a rate on Sunday - IMO we could be in the banks next week.
Gold is up in Iraq- meaning Iraq’s gold reserves rose significantly. They are preparing to be unplugged from the SWIFT. To do that they are going to need a new value.
We are looking for a lot of information throughout the day today. Question: Are we close?
MarkZ: If all goes well today- we should know how close we are. And what we are hoping was initiated yesterday with a lot of funds...I have a good feeling about the next couple of days. I think we are going to see positive things today and tomorrow…to let us know where we are at in the process...
I still continue to hear phenomenal hopes from bankers for the coming days/weeks.
Question: Does the VND have a contract rate?
MarkZ: I wouldn’t call it a contract rate – more like a pre-negotiated fee/whatever for a maximum rate. The reason there is a contract rate on the IQD is the dinar for oil program …allowing them (US Treasury?) to exchange dinar for oil over time instead of all at once.
There have been a few humdingers from banking sources this week. Mostly banking people who used to tell me I was nuts to believe in the RV - are now training for exchanges. They tell me “all those years and you were right” which does make me feel good.
