The float will bring the IQD to the real effective exchange rate and then it will be capped. IMO 1.32 is still not enough. Why? Because the parallel market is extinct IMO. $0.76 does not suffice.
Question: "During the float how much time will pass between each float as the amount increases?"
We're looking at anywhere from 3 to 6 months. But if they are generous we may be looking from 6 months to a year. I pray that's the case because if they don't give us at least 3 months, if they give us one month, we're not going to be able to take advantage of the float.
The international community already has seen the new exchange rate.
IMO the international community is satisfied and happy and anticipating for what is about to happen. It is not a secret.
Shafaq News/ The Saudi-Iraq Business Council has estimated the trade exchange between the two countries at 5 billion Saudi riyals ($1.33 billion), marking a 12% annual growth, according to the council’s president, Mohammed Al-Khorayef.
The council stated in a report that it is working on boosting Saudi investments in Iraq, “aligning with the interest from both the private and governmental sectors in the Kingdom to invest in Baghdad.”
The report highlighted that Iraq is preparing to introduce a law to protect Saudi-Iraqi investments, which is expected to be discussed in parliament in the coming months, aiming to strengthen economic cooperation between the Kingdom and Iraq, according to a statement from the Federation of Saudi Chambers.
In December 2023, Saudi Arabia and Iraq signed a partnership agreement in the industrial private sector investments, with the Saudi ambassador emphasizing the numerous investment opportunities under consideration.
Additionally, in November, Saudi Investment Minister Khalid Al-Falih announced that the Kingdom is studying the launch of its first free economic zone with Iraq at the Arar border area, expressing hopes that the zone would be the first with a neighboring country to operate without taxes, fees, or entry visas, facilitating investor services in both nations.
I think when they say, "Whose operations are constantly expanding in favor of dealing at the fixed official exchange rate", is an argument suggesting that instead of being a floating currency...they're leaning towards a fixed official exchange rate for some time...
Iraq has been and is seeking to join the World Trade Organization...Iraq is promoting self-sufficiency. Why? Because they have all kinds of assets. They have inputs and outputs. They have so many natural resources that they're going to be able to make things, to be able to have excess...There's a working party on accession of Iraq [into the WTO] on the 18th of July. That's important.
Local Economy News – Baghdad Today, Wednesday, economic expert Ahmed Al-Hedhal identified the relationship between the rise in the dollar exchange rate and the customs file, while stressing the importance of controlling the northern and southern borders.
Al-Hathal said, in an interview followed by "Al-Eqtisad News", that "the problem of the high exchange rate of the dollar in Iraq is customs," stressing the importance of "controlling the northern and southern borders."
He pointed out the "necessity of controlling fictitious invoices and facilitating the task of small traders, and involving the Central Bank in auditing invoices from the borders," adding: "Electronic payment and forcing people to use it and to deal in the dinar has nothing to do with the rise of the dollar."
The economic expert said, "Electronic payment has become a tool that facilitates the process of reverse transfers and black transfers," indicating that "the hasty decisions that are taking place are due to escaping from reality."
Al-Hathal confirmed that "the domestic dollar is being smuggled out in 'trucks'."
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: Hello MarkZ and everyone! Let’s go!!!
Member: I feel different today, like something good is about to happen
Member: MarkZ Tell me something good . Tell me ,Tell me, Tell me.
MZ: I had 2 bond folks check in. One said they do not have money yet….but they will be paid this week. The second bond holder said “I cannot comment-PERIOD” to me that tells us something pretty positive happened on the bond side. If they are under an NDA I wouldn’t want them to violate it.
Member: Really sounds like an NDA to me!!.
Member: I am now under an NDA- No Darn Assets!!
MZ: “US Military delegation continues meetings with Iraqi officials in Baghdad” All about working together in the region and the withdrawal of US troops from iraq. But no set timeline yet.
MZ: There was a very encouraging Nader video today about Iraq’s progress…. You all should look for it under just “Nader” and watch it.
Member: Nadar vid was great
Member: (From Dinar Guru) Frank26 The international community already has seen the new exchange rate. IMO the international community is satisfied and happy and anticipating for what is about to happen. It is not a secret.
MZ: I would agree with that.
Member: Mark, have you heard anything about BRICS payment system being launched?
MZ: “Russia and Iran agree on all stages of integration of National Payment systems” This one is important. Many believe this will be the backbone for the payment system for BRICS global blockchain MBridge based currency.
Member: Wolverine posted yesterday a Chinese elder signing to release the gold in Thailand
MZ: There is a video out that had many of you losing your minds …but I can’t vet it….Do I think there is a great chance it is real…..I do….because of the news I received overnight on documentation being signed in Indonesia and the Phillipines.on the Gold Treaty. So it is highly possible….but not absolutely verified. .
Member: Large accounting firm in Tulsa area announced today they are shifting their main focus to wealth management…. Hmmmm
Member: My prediction is that this will all be over soon so I am just chilling out and waiting!
Member: Have a great rest MarkZ thank you for all you do. Great evening to all
“THE CONTENT IN THIS PODCAST IS FOR GENERAL& EDUCATIONAL PURPOSES & NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.