Coffee with MarkZ. 08/22/2024

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: Good Morning fellow RV’ers and welcome bank MarkZ!!!!

Member: Thanks to Zester for filling in…..he did an amazing job. 

Member: Hope everyone is feeling good this morning. It could be a golden day!

Member: How are you feeling Mark?

MZ: My back feels like swiss cheese …Yesterday was a tough travel day but better than I thought it would be. 

Member: Mark, did you bring the RV back with you?

Member: Mark do you think August is still in play??

Member: In Iraq- just how long is " in the coming days?"  lol

MZ: Lots of people preparing…but noone sitting around with cash in their pockets…yet. Lots of rumors of people being paid….

​​Member: I bet the bond people are ready to pull their hair out!!

Member: Tier4B was said to go only days after the bonds. Hope that still hold true!

Member: Mel in Australia says 48,000 Farm Claims have been paid with a 2.2 Billion fund?

MZ: I am real comfortable saying we have real measurable movement with farm claims. That should get you warm and fuzzy about the historic importance of this. This is from the original Pigford farm claims. I am sure you all have seen the article over the last few weeks that the  “Farmers who faced USDA discrimination received historic $2B payout”  

 https://www.agriculturedive.com/news/usda-black-minority-farmers-discrimination-payments/723051/

MZ: I have 2 other farm claim recipients who have checked in and they have also received “chunks” or their payout. Just not the full payout yet. 

MZ: My understanding is Pigford farm claims first…than the original 14 claims….of which 2 people have checked in telling me they do have money…not everything but a “chunk” ….So for me it is well underway and happening. The question is when will the “rank and file” of the bond world get paid???

MZ: The bond market appears to be on hold right now. But still lots of expectations for this week. I hope it is accurate. 

Member: We are running out of week right now. 

Member: Mark—even when the bond people go, could they even tell you? I think we are just going to sit here and be surprised someday. No warning.

Member: what about the Iraq parliament reps that got caught changing budget numbers

MZ: IMO this may be part of the dog and pony show. 

Member: Militiaman said another meeting in US with US Treasury at end of month, I think anytime after that time

Member: Hearing that on October 24,2024 will be a hearing on currency exchange. 

Member: October 18th IRS proposed regulation to classify foreign currency held to a “Mark to Market” valuation? (ie. all currency will be taxed @ current value)

Member: Maybe Powell will bring down the market tomorrow at the Jackson Hole meeting

Member: Breaking right now in Australia Mark :) Chaos as thousands of Aussies are locked out of their bank accounts due to tech outage

MZ: “Macy’s and Target gives cautious sales forecasts suggesting consumer spending slowdown” We already know this…We are living it. 

Member: I feel like the rv is on jack stands, shifting gears but going no where

​​Member: hearing things are very, very close

Member: I think there will be a financial shut down before they RV officially…but who knows”

Member: Thank you MarkZ, Mods, & all hopeful Patriots that are making positive changes that move us ever forward toward the RV

Member: Everyone have a wonderful day …and keep those thoughts positive. 

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

IRAQ IS WEIGHING CHANGE THE OFFICIAL RATE OF THE IQD TO $1.32 USD BY GOLDILOCKS, 22 AUGUST

 GOLDILOCKS

"The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity."

This decision is currently shrouded in political conflict, this is seen as a move to gain popularity by many in the region of Iraq. 

Although this is going to be a reality due to many of the changes in their monetary policies, there are those who still do not want any changes to Iraq's currency. 

The important thing to note in this article is that a rate is being considered. It is also needed due to more countries getting involved in their economy that will require them to raise their current Dinar rate to level the playing field in trade. 

If you look closer at the numbers written into this article, you will notice that the first move on the Dinar would be to drop the three zeros. It makes things very clear what they mean by such a change in their rate. 

Meanwhile, Iraq has agreed to implement their economic reforms this year. They are working with the IMF in this process.

© Goldilocks 

https://www.jpost.com/middle-east/article-791161

AN OVERVIEW OF THE IRAQ'S ROADMAP FOR FINANCIAL SUSTAINABILITY IN THE IR...

DINAR REVALUATION UPDATE: OVERVIEW OF THE IRAQ'S ROADMAP FOR FINANCIAL SUSTAINABILITY IN THE IRAQI BANKING SECTOR, 22 AUGUST

 Iraq's Roadmap for Financial Sustainability in the Iraqi Banking Sector 2024

Overview

The Central Bank of Iraq (CBI) has unveiled a strategic roadmap aimed at achieving financial sustainability in the Iraqi banking sector by 2024. This initiative is a critical component of the bank's broader strategy to strengthen the financial system and promote economic stability.

Key Objectives

Enhancing Financial Stability: The roadmap focuses on improving the overall health of the banking sector through prudent risk management and robust regulatory frameworks. Promoting Economic Growth: By fostering a stable and sustainable banking system, the CBI aims to support economic growth by facilitating credit access and enhancing financial services.  Increasing Financial Inclusion: The strategy includes measures to expand financial services to underserved segments of the population, promoting greater inclusion and access to banking services.

Strategic Directions

Regulatory Reforms

The CBI is committed to updating and enforcing banking regulations to ensure compliance with international standards. This includes strengthening anti-money laundering (AML) and combating the financing of terrorism (CFT) measures.

Risk Management

Enhancing risk management capabilities is a priority. The roadmap outlines steps to improve credit risk, market risk, and liquidity risk management practices.

Digital Transformation

The initiative emphasizes the importance of digitalization in banking operations. The CBI plans to encourage the adoption of digital banking services and promote financial technology (FinTech) innovations.

Capacity Building

Recognizing the need for a skilled workforce, the CBI has included measures for capacity building among banking professionals. This includes training programs and workshops to enhance knowledge and expertise.

Enhanced Supervision

The roadmap highlights the need for more effective supervision of banks. The CBI intends to implement a risk-based supervisory approach and increase on-site inspections to ensure compliance with regulatory requirements.

Critical Evaluation

The roadmap presents a comprehensive approach to addressing the challenges faced by the Iraqi banking sector. Its focus on regulatory reforms, risk management, and digital transformation aligns with global best practices. However, the effectiveness of these measures will depend on the CBI's ability to execute the strategy and overcome potential obstacles, such as political instability and resource constraints.

Implications

The successful implementation of the roadmap is expected to have significant positive impacts on the Iraqi economy. It will not only contribute to financial stability but also promote economic growth by improving access to credit and enhancing the efficiency of financial services.

Conclusion

The Central Bank of Iraq's roadmap for financial sustainability in the banking sector is a bold step towards modernizing and stabilizing the financial system. By addressing key challenges and leveraging digital innovations, the CBI is poised to create a more resilient and inclusive banking sector that can support Iraq's economic development. Note:* This summary is based on the content retrieved from the Central Bank of Iraq's website and aims to provide a concise overview of the strategic roadmap for financial sustainability in the Iraqi banking sector.

LATEST FROM WOLVERINE, 22 AUGUST

 WOLVERINE

Wed. 21 Aug. 2024 Wolverine

 “I told you today was going to be an exciting day. People I am close to, people I know received their notifications today.” (It is Thurs. 22 Aug. in Australia where Wolverine is).

----

WOLVERINE

Sat. 17 Aug. 2024 Wolverine

“It’s all coming through this next week. Exciting things have happened, but I’m not allowed to say what. People are expecting something Sun. night 18 Aug. Just to let you know guys is to get ready. I’m sorry that I can’t say anything as everyone is under total NDA now and soon I will be as well. That opera will be release any day now.

 Thank you for all the support you have all given me as this is one of the most hardest things that I have done in my life as it has control our way of life for years and played with our emotions. We have seen so many of our compatriots that did not make it and thankfully their family will cross the finish line for them. 

During this journey I never thought that I was going to be attacked viciously and even to this day the attacks are still continuing. I know within my heart that I’m doing God’s work and that too many of you are suffering and you need hope and a messenger to know what is going on. 

As soon as I’m under NDA you won’t hear from me anymore but my job has been completed and I can leave with good conscience that I have done everything possible to help you. The opera will be release once I receive the green light. 

Don’t forget the Get Together in February 2025 here in Sydney as we are planning to have the biggest party that Sydney has ever held with all these patriots coming from so many countries. Remember that it’s going to be a gala night and so wear your best clothes everyone.

 I’ll let you all know the day and the address of the Get Together. 

Love you all. Your friend Wolverine.”

https://dinarevaluation.blogspot.com/2024/08/latest-from-wolverine-19-august.html

MILITIAMAN: IQD Update - Iraqi Dinar News - FED Court Reject Appeal - WTO - Purchase...

DINAR REVALUATION UPDATE: "THE 3 ZEROS WILL COEXIST FOR 10 YEARS", 22 AUGUST

 Walkingstick 

  [Aki Iraqi bank friend who runs a bank in Michigan] 

  Question: "Have you heard the three zeros will coexist for ten year?"  

Yes, we have heard about it but we did not hear the number 10.  

We heard that it would be over a long period of time. 

 Duel pricing in the market would be controlled easier. 

 Also, it would give the CBI longer time frame to collect the citizens 3 zero notes.

https://dinarevaluation.blogspot.com/2024/08/walkingstick-intel-have-you-heard-three.html

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 Iraqi Central Bank's plan regarding the "three zeros" currency reform

 This often involves removing or replacing the three zeros from the currency to help stabilize the economy and simplify transactions.

The number 10 years you mentioned might be specific to the timeline for the coexistence of the old and new currency or the transition period. This kind of reform typically involves a long transition phase to ensure that the economy adjusts smoothly, and that people and businesses adapt to the new currency.

The goal is to manage dual pricing more effectively, which can be challenging when both old and new currencies are in circulation. The Central Bank of Iraq (CBI) would indeed need this extended timeframe to ensure that they can collect and replace the old three-zero notes from circulation and control the overall impact of the currency change on the economy.

Removing zeros from a currency, often referred to as "redenomination," involves adjusting the nominal value of the currency. For the Iraqi dinar, this would mean replacing the existing notes with new ones that have fewer zeros. Here’s a detailed look at what this process typically involves and its implications:

What It Is:

1. Currency Redenomination:

   • Definition: Redenomination involves changing the face value of a currency by removing a set number of zeros. For example, if the Iraqi dinar were redenominated from 1,000 dinars to 1 dinar, the new currency would have a much lower nominal value but represent the same purchasing power.

2. New Currency Issue:

   • Process: The Central Bank issues new banknotes and coins with adjusted values. The old currency remains in circulation for a transitional period to allow people and businesses to adapt.

3. Phased Transition:

   • Implementation: There’s usually a transition period where both the old and new currencies are in use, allowing people to exchange old notes for new ones.

Implications:

1. Economic Impact:

   • Inflation Control: Removing zeros is often a response to hyperinflation or very high inflation. By simplifying the currency, it can help stabilize the economy and restore confidence in the currency.
   • Pricing and Accounting: Dual pricing systems become simpler as the currency’s value is more manageable, reducing the complexity of transactions and financial reporting.

2. Public and Business Adaptation:

   • Awareness and Education: There needs to be extensive public education to help people understand the change and adapt to new pricing and accounting systems.
   • Adjustment Period: Businesses must update their systems for pricing, accounting, and financial reporting. This transition might involve initial confusion and costs.

3. Central Bank Operations:

   • Currency Collection: The Central Bank has to manage the process of withdrawing old notes from circulation and ensuring a smooth transition to the new currency.
   • Long-Term Planning: The Central Bank must carefully manage the timing and implementation to ensure stability and avoid economic disruptions.

4. Psychological Effects:

   • Public Perception: Currency redenomination can have psychological effects, impacting how people perceive the value of their money. It can either restore confidence or create uncertainty if not managed properly.

5. International Relations:

   • Foreign Exchange: The redenomination might impact foreign exchange rates and international trade if the currency’s value changes significantly. Clear communication about the redenomination process can help mitigate negative impacts.

In summary, removing zeros from the Iraqi dinar aims to simplify transactions and manage inflation but requires careful planning and management to ensure a smooth transition and minimize economic disruption.