July 4, 2024 Baghdad/Iraq Observer Economic expert Ziad Al-Hashemi warned, today, Thursday, of the collapse of the Iraqi dinar against the US dollar in light of the presence of rising factors.
Al-Hashemi said in a blog post on the (x) platform, followed by “Iraq Observer,” that
“(dollar exchange rates) are on the threshold of 1,500 dinars and are likely to rise further, after the US Federal Reserve banned Iraqi remittances in Chinese yuan, due to suspicions of smuggling, money laundering, and financial fraud.”
He added: “It is expected that this ban will cause an increase in demand for the cash dollar within the parallel markets, and this may push the Iraqi Central Bank to return to implementing more stringent measures that will increase the state of anxiety and turmoil in the markets.” Al-Hashemi continued:
“During this week, we witnessed the cessation of selling the dollar to travelers through approved banking companies and restricting it to sales outlets inside the airport only.
This measure will cause more rapid demand for the dollar from the parallel market, especially with the start of the travel season.” He continued: “As I mentioned in previous attached tweets, the Iraqi Central Bank has not been able, more than 18 months after the exchange rate crisis, to dismantle and solve the exchange rate problem, as the factors of rising exchange rates are still effective and influential.”
He pointed out that “what happened in the last period was merely a postponement of the moment of the collapse of the dinar against the dollar, by numbing the markets with an imaginary stability as a result of a huge sale of the dollar that could decline sharply with any decision from the Federal Reserve that turns the tables on the central bank’s actions, and this is what happened today.” https://observeriraq.net/عاجل-خبير-اقتصادي-يحذر-اقتربنا-من-لحظة/
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
Coffee with MarkZ and Mr. Cottrell. 07/05/2024
Member: Good Morning Mark, Mods and fellow RV’ers!!
Member: Hope everyone enjoyed your 4th of July……
Member: If you drink a 5th on the 4th you may not go forth on the 5th…lol
Member: Can we All hope that there is some great news today
MZ: There is a lot of chatter as of yesterday over the HCL in Iraq.
MZ: “Parliamentary committee for “Economy News” The Oil and Gas law is almost complete-this is what we hope from Barzani’s visit to Baghdad” They want you to know they are almost done with HCL. From day one I was told to look for HCL being completed and then BAM you are headed to the bank!
Member: Frank26 says the same thing…….
Member: HCL is possibly cover for starting the RV without announcing it until BRICS has their announcement of The Unit
Member: I was told if IRAQ says anything is almost done. It’s already done!....
MZ: Also in Iraq they are working with the Saudi’s directly to complete undersea cable agreement for internet connectivity. Iraq is becoming a central hub for communications in the middle east. Big news for Iraq. If you are going to be a regional leader- Iraq is going to need some higher valued dinar…imo
MZ: “Unfolding structural economic transformation in Iraq” This article popped yesterday. This is talking about Iraq’s successes – especially in the digital banking world ….and them coming up to speed “tech wise” with the rest of the world. They have made great strides digitizing their economy to be more efficient and faster. We are seeing the economic changes we need for them to change the rate. .
MZ: The news coming out from bonds, banks and groups remains extremely optimistic. They say we are in the process. We will soon find out as more money moves…..
Member: Still waiting for the fines and penalties.. unfortunately
Member: I’m noticing less currency for sale out there…. Anybody else see that? Couldn’t find the good ones I was checking on this morning. Seems sold out or clawed back.
Member: That's a great sign that the currency sites are running low of product.. The door to selling is gonna slam shut at trigger pull.
Member: Japan got new currency on July 3rd
Member: How will we get notifications if the phones and internet is taken down?
MZ: I think this is one of the worst rumors on the planet. No part of me is thinking, TV’s , radio, , power or internet will be turned off. I am told the alleged 10 days of darkness is not 10 days of darkness but them taking control of the Main stream media in order to get the actual truth out there.
Member: Shouldn’t it really be called “Ten Days of Light” ?
Member: 10 days of Darkness = when everyone is glued to their TV while we exchange our currencies in private?? I hope
Member: Come on RV….In the spirit of Independence Day. I would also like to be independent of my bills.
Member: See everyone tonight…hopefully some bond people will get paid today??? Fingers crossed
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Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
First I want to quote from the financial advisor to the Prime Minister, Mazhar Muhammad Saleh from one of the articles – “The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued.” So, this is telling us that the foreign reserves can back the dinar now in circulation by 100%. Did we read the correctly? This is amazing. What wealth. But the dinar is still at 1/6 of a penny?
Next Saleh added, “In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level,.”
So why is this last statement by Saleh so important? I bring up this statement because he is telling us, once again, the parallel market versus the official rate are under control and no longer an issue for stability. It also tells me they have their inflation problem under control. This is amazing because my CBI contact told me this one of a few other issues was the reason why the
Project to Delete the Zeros was not kicking off. Another we know is that Joe Biden the US president refuses to allow the Treasury to properly do its work and help Iraq reinstate the dinar. The dinar is still at 1/6 of a penny?
But this last part that I want to bring to your attention today is in another article as former MP Ayoub Al-Rubaie confirmed on Tuesday that Washington failed in 5 files in Iraq. One of these files caught my attention. Is it just the translation from Arabic to English or is he really telling us that the U.S. failed to reinstate the dinar as this is the only way that we know Iraq can place the dinar in a basket with other currencies. In other words, the U.S. failed to get the dinar out of the solely “de facto” peg to the US dollar and repegged to a basket of 5-6 other currencies. A basket that I know that the IMF has designed to repeg the dinar, once it is reinstated back on FOREX. I quote from the article– “4.in addition to the decline in the influence of the dollar with the change of the economic compass to the basket of various currencies.“ So what do you think this all means? I think we are witnessing a failure to the RV now being exposed. Yes, this should have already been accomplished in June and is late. It is failure on the part of the US because the US is still stalling it.
I just want to conclude today by saying that everything is set to move ahead with the process of currency reform. We are just waiting. We know that the next step must be taken to move ahead and that is to revalue in-country only first just slightly over a dollar, then conduct the
Project to Delete the Zeros as the currency swap out takes place. The CBI told us then they plan to monitor for a short time for inflation and then move to reinstate the dinar back to FOREX and when doing so the IMF plans to place the dinar in a new peg as in a basket of currencies and float it. Today we witnessed a confession by former MP Ayoub Al-Rubaie who confirmed on Tuesday that Washington failed in Iraq by stalling this work.
Yes, we still also wait for the Oil and Gas law. In my last Newsletter dated 6/27 I presented an article explaining, once again, the issues preventing this law from moving ahead as quickly as they desire. So, knowing this could this actually be the reason why Biden is stalling. Is this then Biden’s fault or Iraq? Remember Iraq did agree to “fully” implement their constitution and the US told them they will not reinstate their currency until it is implemented. But remember this was not the only issue and so let’s not now go off half-cocked once again with this foolish mindset that one event will trigger the RV. Just also remember once again all the intel guru lies about the budget and how they tried to convince everyone the new RV rate was in the budget. It was not and never will be. This was out of ignorance. Let’s not go down that road again…..please! 😊
I wish everyone the best 4th of July in USA. Let’s all pray that the next 4th of July will be much different and even better. Pray that we will be free of this tyrannical politicians, the democratic party, these non-elected officials and their destructiveness to our nation that we have been witnessing.
These Independence Day celebrations should be remembered for what they actually are. We shoot off fireworks because these rockets and sprinklers in the air represent the bombs and explosions during the war for independence. The American Revolutionary War of April 19, 1775 – September 3, 1783, also known as the Revolutionary War or American War of Independence. It was a military conflict that was part of the broader American Revolution, where American Patriot forces organized as the Continental Army and commanded by George Washington defeated the British Army.
But really history has it wrong. There was no way in hell the patriots could win over the oncoming British. What most people don’t know is that the British casualties were so high in many of these battles with the Continental Army that they asked for a truce not surrender. Think about it. No one surrendered to end the war. In the truce is simply said that the British would be removed from the settlements. But something had to be given in return. I will leave it up to you to research what was given in return.
What did the patriots want as to why they fought the British rulers over their colonies in the new world? They wanted fair taxation, an honest government and most importantly a fair justice system. If they could not be provided these basic issues, the colonists would take them and thus form their own government by the people for the people. The British were not about to give in to these demands as they felt these were conquest colonies.
They felt they belonged to Britian which was a superpower at that time. The concept of by the people for the people was foreign to the British as in Europe the governments were Monarchies of Kings and Queens over generations and generations. Nobody was elected or chosen by the people to govern them. They dictated how to live and were supported and lived in luxury by the taxation which allowed them more and more control. Their armies safeguarded their Monarchies and forced the taxes. Oh… Biden wanted 80,000 + more armed agents to collect taxes in the IRS. Do you see it now?
I will not continue with this history lesson but will conclude in saying that in this 4th of July 2024, let this be our real Independence Day from the tyrannical government and globalist who seek to once again find ways to control us yet even more. Let us know that the change begins today and will continue until we find a way to finally solve this crisis.
The Deep State globalist operatives in your country DO NOT want prosperity and abundance. When people have money and freedom the control of government over the people lessons as they become more and more independent instead of dependent on social welfare giveaways. I recommend that everyone take a serious look at this book. It will open your eyes to what they are doing us and how they control us over OUR money.
Yes, even way back in the 1770’s the citizens fought against all these things we now are witnessing being eroded in our countries today. These are all the same issues of the past. Nothing really changes unless we force the change. The people really do have a voice must you must be heard and shout the voice loud enough. For instance, look at the unfair taxes. We are taxed on everything every time we do something.
We buy a new we pay a sales tax on it, then pay an annual tax on the vehicle to the town, then when we fill up, we pay huge sums on gasolene tax to run the vehicle, then when we bring it in for maintenance, we again pay a sales tax. Folks add up this annual local car tax over 10 years on the average car and it could be as much as $5,000. Then there is the Federal Income tax, the State Income tax and even School district tax. This is double or even triple taxation on our money earned.
Then on top of all this we are taxed on Sales on our other purchases, such as clothing, furniture, eating out, etc.. Oh but we already paid taxes on this money since we paid income tax on the money we earned. I can go on and on. How much do we really have left when its all said and done? To have any serious savings to invest today, you have to be earning a very high income to start. But having surplus money and being able to save for a future DREAM is the American dream. It is the CAPITALISTIC form of our economy. Where anyone can elevate himself up the social status ladder by how hard he works and the money he earns. It’s called OPPORTUNITY. Do you see it now how this crazy burden of over taxation is killing our country and must be fixed.
There is a major and I mean MAJOR rethinking of how to fund the Federal and State budgets in the USA that must take place in the USA. No, I am not talking about just some tax cuts. In the process there MUST be cuts of programs, less bureaucracy with wasted money that Constitutionally the government should not be funding in the first place. The Lobbying programs must end. Stricter Social Security and Medicare recipient regulations. We then find another way to fund what is needed to run what remains of our local, state and federal governments. Yes, the budget haircuts must coincide with the tax cuts. We must take this burden off the citizen and place it back on commerce where the Constitution says it belongs in the first place. But do this will mean change and I mean a rethinking of the entire system. ...TO BE CONTINUED
The office of the President of the Kurdistan Democratic Party, Masoud Barzani, announced that the party leader will visit Baghdad today, Wednesday (July 3, 2024), to hold a series of meetings with Iraqi officials and political leaders.
Barzani’s office said in a statement received by Baghdad Today, “The party’s leader will visit Baghdad today to hold a series of meetings with political parties and political leaders.”
He added, “The budget, the formation of the local government in Kirkuk, the Sinjar issue, and the election of the Speaker of the Iraqi Parliament will be among the main topics in his meetings.”
According to local reports and Kurdish sources, the visit was described as not to discuss pending files, but rather as a final culmination of the end of all technical and legal discussions on all current files, at least those related to salaries and political crises, while the major files related to the oil and gas law and the file of resuming the export of the region’s oil, which has become a vicious circle between Baghdad and foreign companies operating in the region, continue.
Barzani’s visit also coincides with the Turkish incursion and ground operations it is carrying out in northern Dohuk within the Kurdistan Region, while these operations came in accordance with a prior agreement between Baghdad and Ankara during the visit of Turkish President Recep Tayyip Erdogan to Baghdad link