Wednesday Evening News With MarkZ , 5 SEPT

Wednesday Evening News With MarkZ 

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 Evening  Mark and mods, hope everyone had a great day.

Member: What do you know today Mark??

MZ:  I am getting many reports today that payments have started. Reports that payments are rolling out to groups today….this afternoon…in the last 4 hours or so…... But I am staying calm because I have not been able to prove it yet. But I am looking for proof that this is accurate. 

MZ: I am hearing this from any different sources….IF this is accurate…in the next day or two-you and I should find out when we can go in and exchange our currency. IF THIS IS ACCURATE.

MZ: I am getting blown up with contacts saying they have let things go. I have no idea if this is accurate or not. I cannot find anybody with cash in hand. I have heard this from a number of sources. I bet the dinar boards are exploding today. We are in hope that this is accurate. 

MZ: STAY CALM….I am really trying to stay calm as well. 

Member: JENTEL: said same thing with Mike Bara today!!

Member: I hope it's accurate. Them 2 nickels I been rubbing together 'bout wore out...

Member: I hope that what you are hearing MarkZ pans out!!!

Member: Stay grounded and focus on the $$ system being returned to all people

Member: Fiat money eventually returns to its intrinsic value - zero.

Member: If they are going through the levels before us, I would not be surprised for it to take a week or even two… think about it, no matter how many profess it will be all going at the same time, … That really wouldn’t be physically possible… My personal guess, maybe they get all of us through our appointments, so we All see the amount we will receive, then Release it All at the same time…

Mnt Goat    ...Iraq told us all about how they fully intend to get back the “glory days of dinar” and so...Yes, simply put, they are doing it... at this point the pieces are all aligning so nicely...it’s all about implementing the Financial Reforms and then comes the Project to Delete the Zeros followed by the Reinstatement.  You can’t do one without the other... it certainly “is not all done”... the path to the reinstatement is crystal clear... you can see the writing is on the wall. I don’t say this lightly either. We are just about there... 

MZ: That may be the best message from Mnt Goat yet….It’s spot on …They have told us over and over again…..raise the vale, release the lower denoms , and get rid of the 3 zero notes.   

Member: Mongolia is going to BRICS!  That Tugrik may be worthwhile to add to the currancy pile? 

Member: Turkey is going as well…..BRICS is growing by leaps and bounds….

Member: Thanks everyone ….God Bless

Mod:  THANK YOU, MARK AND COMM FAMILY!! WE WILL SEE ALL OF YOU AT 10:00 AM EST TOMORROW, UNLESS SOMETHING HAPPENS, FOR ANOTHER GREAT PODCAST... OR AT W&W TONIGHT AT 8:00 PM EST.

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

Whiskey and Wisdom with MarkZ, MikeB, and Zester. 09/04/2024

DINAR REVALUATION REPORT: ABOUT THE IMF'S $3.22 OIL VALUATION, 5 SEPT

 Iraq's Economic Strategies and the $3.22 Oil Valuation in 2024

Iraq, one of the most oil-dependent countries globally, has historically based its economy heavily on oil revenues, which have accounted for over 99% of exports, 85% of the government's budget, and 42% of gross domestic product (GDP) over the last decade. 1 This reliance on oil has exposed the country to macroeconomic volatility. As of January 2021, Iraq's unemployment rate was more than 10 percentage points higher than its pre-COVID-19 level of 12.7 percentage points. 1

The IMF's $3.22 Oil Valuation

The International Monetary Fund (IMF) mentioned a $3.22 rate, which indicates a historical valuation of oil in Iraq, highlighting the need for renewed economic strategies. 1 This valuation underscores the urgency for Iraq to diversify its economy beyond oil to secure fiscal and debt sustainability, advance economic diversification, and achieve sustainable, inclusive, and private sector-led growth. 4

Iraq's Economic Outlook in 2024

In 2024, Iraq's economy is expected to continue its recovery, supported by a large fiscal expansion. 4 However, this expansion comes at the cost of further deterioration of fiscal and external accounts, increasing Iraq's vulnerability to oil price fluctuations. 4 Without policy adjustment, the risk of medium-term sovereign debt stress is high, and external stability risks could emerge. 4

Key Downside Risks

Key downside risks include much lower oil prices or the spread of the conflict in Gaza and Israel. 4 These risks could significantly impact Iraq's fiscal and external balances, necessitating a fiscal adjustment to stabilize debt over the medium term while protecting critical social and capital spending. 6

Strategies for Economic Diversification

To foster private job creation and ensure long-term external sustainability, Iraq needs to focus on private sector development and economic diversification. 6This includes containing the outsized public wage bill and mobilizing additional non-oil revenues through policy measures. 6

Conclusion

Iraq's reliance on oil for economic stability is a double-edged sword, offering significant revenues but also exposing the country to macroeconomic volatility. The IMF's mention of a $3.22 rate for oil valuation highlights the need for Iraq to diversify its economy and develop strategies that ensure fiscal and debt sustainability, advance economic diversification, and promote sustainable, inclusive, and private sector-led growth.

DINAR REVALUATION HIGHLIGHTS: "THE IMF DOCUMENT STATES RI RATE AT $3.22" , 5 SEPT

 Summary

Here are the latest updates on the Iraq Dinar’s potential revaluation, banking sector developments, and economic insights.

Highlights

• 📈 IMF Document states RI Rate at $3.22+.
• 🏦 13 banks in Iraq are prepared for currency exchange.
• 💰 Non-oil revenues are increasing in Iraq.
• 📊 Central Bank focusing on digital payments and electronic banking.
• 🌍 Iraq chairs the Group of 77 and China at the UN for the first time.
• 🏗️ Development Road Project expected to boost Iraq’s economy.
• 📅 Weekly giveaway of 100 Dogecoin for subscribers.

Key Insights

• 📉 The IMF’s mention of a $3.22 rate indicates historical valuation based on oil, highlighting the need for renewed economic strategies.
• 🤝 Collaboration between Iraq’s Central Bank and US financial institutions aims to enhance currency exchange oversight, critical for Dinar revaluation.
• 📊 The rise in non-oil revenues signifies diversification in Iraq’s economy, reducing dependency on oil.
• 💳 Digital banking advancements suggest a modernization of Iraq’s financial system, promoting global trade and investment opportunities.
• 📈 The appointment as chair of the Group of 77 indicates Iraq’s growing influence in international economic discussions.
• 🚀 The Development Road Project could transform Iraq’s economic landscape, creating jobs and attracting foreign investments.
• 🔄 Increased training for currency exchange personnel suggests imminent changes in Iraq’s banking operations and potential Dinar revaluation.

"RATES AT REDEMPTION CENTERS MAY BE HIGHER THAN BANKS" BY MELANIE HINDS, 5 SEPT

 MELANIE HINDS

Summary

She discusses recent developments regarding the Iraqi dinar, emphasizing progress in economic reforms, security measures against money smuggling, and upcoming opportunities for currency exchange.

Highlights

• 📈 Iraqi satellite project discussions with UAE for economic ties.
• 💳 New electronic platform catching money smugglers.
• 🇸🇪 Swiss Embassy reopening in Baghdad boosts international relations.
• 💼 Enhancements in customs and tax revenues from bordering nations.
• 🤝 Focus on bilateral agreements with the US for economic growth.
• 📅 Notifications for tier 4B currency exchanges expected soon.
• 💰 Rates at redemption centers may be higher than banks.

Key Insights

• 🔍  Economic Reforms: Iraq is actively working on banking sector reforms, which are crucial for attracting foreign investments and improving economic stability. This can lead to increased confidence in the dinar.
• ⚖️ Security Measures: The implementation of an electronic platform is a significant step toward combating money smuggling, enhancing the integrity of the financial system in Iraq.
• 🌍 International Relations: The reopening of the Swiss Embassy signifies strengthened diplomatic ties, allowing for better cooperation and investment opportunities in Iraq.
• 💵 Revenue Generation: The focus on customs and tax enhancements reflects Iraq’s strategy to diversify its economy beyond oil dependency, which is vital for sustainable growth.

• ⏳ Upcoming Notifications: The anticipated notifications for tier 4B exchanges signal a potential shift in currency value, encouraging investors to remain vigilant and prepared for upcoming opportunities.

• 🏦 Redemption Centers: The possibility of higher exchange rates at redemption centers than banks indicates strategic planning to incentivize currency holders, emphasizing the importance of choosing the right exchange location.

Boosting Non-Oil Revenues: A Game-Changer for Economic Stability

DINAR REVALUATION REPORT: Enhancing Non-Oil Revenues: A Strategic Focus for the Parliamentary Finance Committee, 5 SEPT

Enhancing Non-Oil Revenues: A Strategic Focus for the Parliamentary Finance Committee

In a significant move to diversify and strengthen the economy, the Parliamentary Finance Committee convened a crucial meeting in September 2024 with the heads of the General Commission for Taxes and the General Authority for Customs. 6 The objective was to explore strategies for enhancing non-oil revenues, a critical step toward reducing economic vulnerability and fostering sustainable growth.

The Urgency for Diversification

Chairman Atwan Al-Atooni emphasized the pressing need for the economy to move beyond its reliance on oil, a dependency that has left the country's financial stability susceptible to global market fluctuations. 6 Highlighting the risks associated with a rentier economy, Al-Atooni underlined the importance of broadening revenue streams to include robust non-oil sectors.

Strategies for Revenue Enhancement

The meeting served as a platform for in-depth discussions on expanding non-oil revenues, with a particular focus on tax and customs reforms. Recognizing the pivotal role of these institutions in revenue generation, the committee aimed to outline joint procedures for maximizing income.  6

The Role of Tax and Customs Authorities

With the Central Bank selling over $200 million daily, the tax and customs authorities were identified as key actors in capitalizing on this financial flow. The committee's decision to meet with these entities underscored the potential for tapping into untapped revenue sources and optimizing existing ones. 6

Ongoing Efforts and Collaboration

Building on previous engagements with the Deputy Prime Minister, the Minister of Finance, the Minister of Electricity, and the Minister of Oil, the committee's continued meetings with ministries and agencies underscore the systematic approach to revenue enhancement. 6 This collaborative effort is crucial for aligning strategies across different sectors and ensuring a comprehensive approach to economic diversification.

In conclusion, the Parliamentary Finance Committee's proactive stance on enhancing non-oil revenues through strategic meetings with key authorities reflects a commitment to economic resilience and diversification. By focusing on tax and customs reforms, the committee is paving the way for a more stable and diversified economy, lessening the impact of global oil market volatility.