Baghdad Today - Follow-up A global technological outage has caused many sectors around the world to stop working, most notably airports and financial banks, today, Friday, (July 19, 2024), but the matter was different in Iraq and most Arab countries, as well as China and Russia .
In Iraq, the Civil Aviation Authority rushed this morning to clarify that “the country’s airports were not affected by the technical glitch in the global computing systems,” while the Cyber Security Center at the National Security Advisory confirmed today that “Iraqi government institutions were not affected by the global electronic glitch .”
Kuwait, Lebanon, Morocco and Egypt announced that their countries were not affected by the global technical failure because they do not use Microsoft in their operations; they were not affected by the outage .
Questions were raised about the reason for the systems stopping in some countries while they did not stop in other countries, especially Iraq and other Arab countries, but by knowing the reason for the technical failure, the reason for that can be reached .
The Microsoft outage was linked to a new update from CrowdStrike, a cybersecurity software company, and caused disruptions across a range of sectors, with stock exchanges, airlines and banks the most affected .
Accordingly, and according to tracking data from technology companies, the outage only affected computers that use the CrowdStrike cybersecurity system on Microsoft systems, which means that computers running on Microsoft's system, and not using the CrowdStrike cybersecurity system, were not affected by the global glitch . LINK
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
MZ”: We spend the first 45 minutes with the cbd gurus cutting up and answering questions, at around the 45 minutes mark we get into the news of the day.
Member: Good morning Mark Z and Mods. Glad to be here. What do you know today Mark?
MZ: well, on the bond side it seems to be Asian bonds are moving quicker than German bonds …but I hear they are making great progress. I still have a lot of contacts disappearing. There is a lot of pressure on the bond side not to share specifics.
Meber: if I signed an NDA that would take all my money if I talked…..I would be dead quiet as well…just saying….
MZ: I do have some redemption center/banking folks workng this weekend. I’m not certain why they had to work this weekend. But they are there.
MZ: Folks in Geneva and the WTO are dead quiet. If they are trying to keep the RV quiet like Kuwait-they may be trying to keep the WTO news quiet until they have taken some of us in…and announced things publically.
MZ: The HCL law seemed to be going well in Iraq and then suddenly all mention of it disappeared off the news. Along with WTO news that disappeared off the news this week. I think things are better than they appear on that front.
Member: Hey Mark what do you think about the power outages in the different parts of the US?
MZ: CrowdStrike: What else broke down? Elon Musk is said to have removed crowdstrike from any of their systems and anything Tesla and SpaceX related.
MZ: I know a lot of people who basically had a half day off yesterday- they couldn’t work.
MZ: “ Global IT outage grounds flights, disrupts banking and takes media off the air” Many banks were shut down in Puerto rico…people could not get cash. Lines were 100 people deep. What happens if banks are closed more than one day….people may lose their minds.
MZ: This is a serious wake up call for people to be prepared and have some cash on hand. Maybe extra food and an extra gas can as well.
Member: Even the name “CrowdStrike” is a bit ominous.
MZ: As of noon est yesterday –more than 30,000 flights delayed worldwide.. My understanding is things are not cleaned up yet. With over 2,000 flight cancellations in the US. Mostly Delta, American Airlines and United. This will cost the Airline industry billions
MZ: ATM’s And Social Security offices were closed. Courthouses were closed. Member: Outage caused supply chain issues for our laboratory in just 1/2 day. This is an epic, monumental hit to the economy.
Member: My military bank already put notice out that you have to go into a branch to withdraw, no online 'global' tansactions for this weekend... hmmmm
Member: Yesterday, I was supposed to have X-rays done and due to the Internet issue all systems were down. They then told me Monday they are going to a whole new system.
Member: I work for a certain unnamed but very large oil and gas/chemical company and we had very very many people that had blue screens and multiple network crashes…
Member: we went to the local tax office and they said they were down state wide
Member: I DO BELIEVE THIS IS OUR MONTH !!!
Member: FYI, Take this with a grain of salt, but Bruce’s Big Call did a special recording on Fri. on Telegram (he always does recordings on Tues./Thurs.) & said we are getting notifications today or Monday
Member: Have a great Sunday Funday!! Remember where you've been and where you are, and celebrate we are finally in sight of God's blessing!
Member: THANK YOU MODS! HAVE A GREAT WEEKEND!
Member: Have A Fantastic Weekend Everyone, See All Y'all Monday AM…unless
BREAKING NEWS: MarkZ's WEEKEND email address: Don't Write Me@NeverOnWEEKENDS.Com SERIOUSLY, MARK NEEDS A LITTLE BIT OF TIME FOR HIMSELF FOR REST AND REC. THANK YOU!!
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
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
FIREFLY:We're hearing this man on Chanel one on the TV he's saying to us citizens, he's saying joining the WTO will eventually lead to the rising of the dinar value up. It's all about global trade...In order to compete we will need a real effective exchange rate to produce anything in the global trading market.
FRANK: He's right...It's amazing they are talking to you about the real effective exchange rate...because that is the end result of the float...God willing it comes out at $3.22 as an RI.
FIREFLY: Sudani said we have a new currency...
FRANK: They're not talking about the 3-zero notes...They're talking about the new currency that's going to match a new exchange rate.
FIREFLY: Any new currency will have to be lower notes...
FIREFLY: My bank guy just flat out came out and told me, to be honest with you I think it will reinstate to what it was before and then it's going to float like any other international currency...It's more from the rumor mill.
FRANK: I know it's going to reinstate. You know it. The money exchangers know it, that's why they went ape %$^%. That's why they're happy! ...This is the 3rd time your bank friend tells you $3.22 and it will float...That is the most logical thing for the CBI to do.
At the third meeting of the Working Party on the Accession of Iraq on 18 July, WTO members welcomed the formal resumption of the country’s accession process after a 16-year hiatus, commending Iraq for its renewed political commitment and engagement in the accession process.
Iraq reaffirmed its pledge to join the WTO, highlighting significant economic and legislative reforms.
Mr. Atheer Dawood Salman Al Ghrairi, Iraq's Minister of Trade, led a high-level delegation from Baghdad at the third meeting of the Working Party. Ambassador Saqr Almoqbel of the Kingdom of Saudi Arabia, who chaired the Working Party for the first time since his appointment last year, welcomed Iraq's return to Geneva after many years, highlighting the significance of the formal resumption of Iraq's accession process. “The Minister's presence here, the first since 2008, sends a clear signal that Iraq's accession process is now back on track,” he remarked. The Working Party held its second meeting in April 2008 and an informal meeting in November 2017.
The Chair acknowledged “the tremendous efforts by everyone, of course, starting with Iraq, but also members and partners, as well as former Chair Ambassador Omar Hilale of Morocco, to make today's meeting a reality”. He also referred to
his visit to Baghdad in January 2024, where he met with senior Iraqi government officials, including President Abdul Latif Rashid.
Minister Al Ghrairi noted the importance of the meeting, which “represents a distinctive step for the Government and the people of Iraq towards becoming a full-fledged member of the WTO, a target we seek to achieve as a means to enhance our national economic strategy and integration in the global economy”. He further stated that despite ongoing security, political, and regional challenges, “the Government of Iraq remains steadfast in its commitment to pursue a reform agenda in terms of enhancing trade policies, boosting the business environment, and creating favourable conditions for foreign investment.”
Minister Al Ghrairi highlighted the special importance attached by the Government to aligning its trade policies and regulatory frameworks with international rules and standards and strengthening institutional capacities to meet WTO requirements. “The National Committee on Iraq's Accession has intensified efforts and made substantial progress in fulfilling the accession requirements,” he said. Ahead of the third Working Party meeting, Iraq submitted key negotiating documents, including its initial market access offers on goods and services.
WTO Deputy Director-General Xiangchen Zhang stressed the significance of this meeting not only for Iraq but also for the Arab region, which still has a large number of accessions under way. “As the largest region outside the multilateral trading system, this moment signifies a renewed opportunity for progress and collaboration towards accession for Iraq and hopefully other Arab nations aspiring to join the WTO, enhancing regional and global trade dynamics.” He also emphasized the importance of technical assistance and capacity building in the region, especially for Iraq in view of its status as a post-conflict country.
Members highlighted the significance of Iraq's accession for the multilateral trading system. Many Arab members emphasized that Iraq's accession would contribute to regional integration efforts in support of peace and security. Other participants in the meeting included observer governments and international organizations.
Iraq provided an update on its initial contacts with members regarding bilateral market access negotiations, noting that initial offers on goods and services were submitted in early May. The Iraqi delegation expressed readiness to further engage with WTO members.
The Working Party discussed various aspects of Iraq's foreign trade regime based on its revised Memorandum of the Foreign Trade Regime (MFTR) and other supporting documentation. Iraq provided a report on legislative developments, highlighting its latest efforts to conform with WTO-related rules.
Next steps
The Chair invited Iraq and WTO members to intensify bilateral negotiations on market access, building on the recent contacts.
The Chair invited members to submit specific questions in writing by 15 August. He also asked Iraq to provide replies to members' questions and to submit other requested accession documents. The Chair asked the WTO Secretariat to work with Iraq to revise its MFTR, which will serve as the basis for continuing the examination of Iraq's foreign trade regime at the next meeting of the Working Party.
In addition, the Chair asked Iraq to revise its Legislative Action Plan and submit copies of WTO-related legislation to provide an up-to-date picture of ongoing reforms.
The importance of technical assistance was emphasized, with several members and international organizations offering support. The Secretariat plans to organize a Round Table to discuss Iraq's technical assistance needs to further facilitate its accession process.
The Chair suggested that the fourth Working Party meeting could be scheduled for the first quarter of 2025, contingent on the progress of the outlined steps.
You heard them talking about corruption. They're going to clean it up but it's going to always be there. It's everywhere. It's in America. It's everywhere in the world. It's in Europe. It's here. Corruption is corruption, the biggest corrupt people you cannot clean them cuz they have powers...You can't do anything against them.
What's going on in Iraq is really really good. Last month you see me talking about this month, about July. I said from now to July 8th you'll get some good news and that's exactly what happened. You see every proof of possibility to revalue or reinstate. I think it's reinstatement more than revaluation.
Lots of things happening...I see good news coming up this week so stay tuned...What's happening now it's good. I can say we are very close.
Nader From The Mid East
Things have been moving a little bit from here to the 8th of July. I hope we have an answer cuz that's what they shooting for.
I don't know if it's going to be good or bad...It's more good than bad but I don't want to say anything about that cuz if anything happen you're going to say, 'Hey, but you said this. You said that.'
SUMMARY OF RV UPDATES OF NADER FROM MID EAST, 21 JUNE
I know they working on the exchange rate from here to the 8th of July. We will have some good news I hope.
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Article: "Iraq Bulks Up Gold Reserves, Inch Up World Rankings" Quote: "Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month. This increase...is enough to nudge Iraq one spot higher in the WGC's global ranking, landing them 31st place out of 100 countries."
Last week...I said Iraq government start a new white paper, it's all about the currency. From here to the 8th of July we should have an answer. What they going to do - Are they going to change the exchange rate or not? That's what I said exactly. They're working on it. I know they created a white paper on that. The CBI... government of Iraq, the reserve and the IMF are all working on the same page on those white papers. I don't know if it's going to change or not...
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The UN agreement, 2003 when they invaded the country, now they said the last day is next year 2025. They been talking about the end of the war and this is one of them. That is very good news.
We talk about sovereignty, that's one of them. It's good for Iraq. It's going to make Iraq stronger and happier...Sudani what he's talking about the coalition gonna leave in 2025...it's official.
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'Nader you said it was going to happen in June.' No I didn't say in June happen.
I said June they're a possibility for them to work on the dinar because each time they worked on him it's between June and August...They created a new white paper. They're going to start working on the exchange rate and I think from here to the 8th of July. We'll see what's going to happen.
Iraq wanted to de-dollarize. They start de-dollarizing in January but it didn't work for them too much.
The government didn't expect that to happen even by telling them that the dinar are stronger...use the dinar instead of the dollar for the benefits of the country. They tried everything. Now, they said that plan didn't work so they come out to the new white paper...They realized they cannot do nothing without changing the exchange rate.
They're going to have to go down in the exchange rate for the de-dollarization...They're going to have to change their exchange rate...Between now and 8th of July we should have an answer...
what they going to do? Are they going to change the exchange rate...keep it the same...go up...go down?
I think they're going to have to go down on the exchange rate a lot for them to take off the dollar from the street.
