Iraq's Economic Transformation: A New Era in Global Trade

Economist: The Path Of Development Will Pass Through 12 Iraqi Governorates And Will Move Iraq To Global Status, 16 SEPT

 The economic expert, Abdul Rahman Al-Sheikhli, confirmed that the development road will pass through 12 Iraqi governorates and will have great investment opportunities.  Al-Sheikhli said {to Al-Furat News} that:

 
“The development path will move Iraq from a regional to a global situation in terms of trade, as it will pass through 12 Iraqi governorates and will have great investment opportunities.” 

He added,  "The development road project will provide Iraq with great regional and international relations.  It will also attract Iraqi manpower, and we are optimistic about it."

Al-Sheikhli continued,  "The stability of the security situation reflects the extent of interest in the future and the increase in investment opportunities in the country," noting that "the economic system in Iraq has changed since 2005 to a  market system, and on this basis the system must be transformed from a rentier economy to a productive one."   
 
https://alforatnews.iq/news/خبير-اقتصادي-طريق-التنمية-سيمر-بـ12-محافظة-عراقية-وسينقل-العراق-الى-العالمية

Coffee with MarkZ. 09/16/2024

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: GM Everyone. Hope the weekend was a good break for you!

Member: Praying for some positive news this morning, boy do we need it.

Member: Good morning all!! Hopefully this is our week!!!!

MZ: It’s very possible this is our week…Lets see if all the hype is right 

MZ: “ A parliamentary delegation to visit the Kurdistan region next week on the salaries of employees”  This article came out before the weekend….so it’s this week…..This is one of the hiccups that is keeping HCL from passing. So they are in the Kurdish region supposedly working on this….what is supposedly one of the last hiccups with passing publically the HCL….Maybe?.....Finally?  If we get the HCL we should get a new value on the dinar.  

MZ:    “Baghdad to host tomorrow the conference “Electronic push towards stability in Iraq”   This is also a big story as we see more and more banks are open…..They will be using XRP to move large sums in and out with seamless transactions on their new platform. They are right now more technically advanced than any other middle eastern country. They have laid the groundwork for exchanging and the movement of dollars/dinars.

Member: F26 source “Eddie” reported on Saturday that the salaries in Kurdistan have started paying equal pay for the Kurds starting yesterday (Sunday) Iraq was celebrating the prophet Mohammed’s birthday on Sunday , so the rate change announcement was delayed. 

MZ: The chatter from Iraq has been exceptional. 

Member: Chatter chatter everywhere but not coin to clink!

Member: So no lower denominations on the streets yet?

MZ: There are no lower denominations on the streets yet. Seems to be rumors so far….but, they have been preparing and training all the bank staff on the new lower denominations. If they did not have any plans on putting the into circulation soon….they would not be giving them cut sheets…or pictures on the security features….They would not be training them yet.

Member: At least the RV will be before the end of the year-according to Sudani. 

MZ: Right now it is still pretty quiet on the bond front…and private banking front. We heard a lot of rumors over the weekend on more bond movement including the 1924 German bonds. There is still a tremendous amount of anticipation for mid-week this week. 

Member: Mike Bara keeps posting about bond holders and getting their money

Member: Jon Dowling did a short video on xrp winning their case and quickly would rise in price in quick succession and this will kick Iraq into gear to revalue.

Member: Mark, over the weekend some reports were made that Canada Walmarts would no longer be accepting u.S. dollars by Sept 23. It said because of new security on the dollars. Could this be true?

MZ: It would not surprise me because we are supposed to be getting new bills. But this is very interesting news. 

Member: I just got off the phone with Walmart Brooks Alberta Canada. Absolutely true…no USD

Member: Saudi Arabia is buying oil with the Chinese yuan.

MZ: “Saudi’s have joined Asian countries in ditching their long term sensitivity to the gold price” Evidence suggests the Saudis have covertly bought 160 tons of gold from Switzerland since 2022. Pay attention to this one . Jaimie Dimon last week was warning us on bank runs and collapses….Goldman Sacs are telling their wealthy clients to get out of the markets and buy metals….is anybody paying attention?

MZ: And yes…Saudi Arabia is pushing more of its petro sales in yuan…and doing away with petro purchases  in the US dollar. 

MZ: Like Andy said…slowly, slowly…suddenly…..and the suddenly part is hitting. 

MZ: And China is leaving the world bank….which means they have to have something else lined up because of their global ambitions. 

Member: Mark…about a month ago you talked about how your contacts said your Dinar estimate was “way too low.” You were at like $3.70…so are we talking about $5? $7? $10?

MZ: All they are telling me is my estimates are way too low. 

Member: (From Dinar Guru) Mnt Goat ...They don’t need any economic revival to put a fair market rate for the dinar back on FOREX. It is all a lie....They are “artificially” suppressing the rate of the dinar. When will this abuse of the dinar end?   I believe this end is near...

MZ: That is dead, spot on accurate. They are suppressing the price of the dinar 

MZ: When I finish this podcast I will be traveling back home today….. Zester will be handling this evenings podcast …Tonight they are launching the new Liberty Financial system….Zester thinks its important to be here…

Member: I wonder how does all of this World Liberty Financial stuff tie in to our RV related stuff...

Member: Do you think the end of the US Fiscal year plays into the timing of resetting to an asset backed economy

Member: Wooooot. Another week down, and we begin another. Not everyone is blessed to be given a chance to have the time to perfect plans for life post RV.

Member: Safe travels today Mark….and thanks for all you do…..

Member: Thank you MarkZ! See you tomorrow. Safe travels!!!

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

"THE ENTIRE WORLD IS AWAITING !!! #FREEIRAQ BY REINALDO JC, 16 SEPT

 REINALDO JC

The entire world is awaiting!!! #FreeIraq #FreeIraq #FreeIraq

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REINALDO JC

Foreign Currency Exchange Swift has upgraded to the iso20022 compliance system. Swift is preparing for currency exchanges in the quantum financial system. Department of the Navy & the Defense announced new codes being implemented into the banking system relevant to foreign currencies exchanges & recorded/archived in the federal register (similar to the iraq gazette). Laws being/has been implemented for our military officer & contractors around the world on how they’ll be able to exchange foreign currencies in the new quantum system. Swift is now transitioning to be able & allow us to go to Banks & exchange our foreign currencies in the new quantum financial system on the digital platform. -freedomfighter I’m sticking to my prediction!!! LFG

The Necessary Steps for Iraq to Reinstate the Dinar Rate at $3.22: @DINARREVALUATION

DINAR REVALUATION REPORT: The Necessary Steps for Iraq to Reinstate the Dinar Rate at $3.22: Iraq 2024, 16 SEPT

 The Necessary Steps for Iraq to Reinstate the Dinar Rate at $3.22: Iraq 2024

Iraq's quest to reinstate the dinar rate at 3 to less than a penny in 1993. However, with the overthrow of Saddam Hussein's regime in 2003 and the introduction of a new currency in 2004, there have been efforts to revitalize the economy [1].

Economic Reforms and Monetary Policies

Implementing Anti-Inflation Measures

Iraq must continue to enforce robust anti-inflation measures to control the inflation rate and stabilize the currency. This includes raising policy interest rates and allowing a gradual appreciation of the dinar [1]. By 2007, the International Monetary Fund (IMF) acknowledged the Iraqi government's efforts in tackling inflation [1].

Monetary Reform Process

Iraq is undergoing a monetary reform process that involves several steps, including: Deleting zeros from the currency to simplify transactions and improve the currency's value. Printing new notes to replace the old currency and enhance confidence in the dinar. 3

Adopting a Basket of Currencies

A significant reform involves using a basket of currencies to determine the dinar's value against the dollar. This basket includes currencies like the Euro, Pound, and Yen, among others. This approach allows the dinar to reflect the true strength of the Iraqi economy and avoid fluctuations and shocks that affect the dollar [3].

Economic Stability and Growth

Fiscal Discipline

Iraq needs to maintain fiscal discipline by managing its public finances efficiently. This involves reducing budget deficits and controlling public debt, which will improve investor confidence and attract foreign direct investment. 2

Diversification of the Economy

Iraq should diversify its economy by reducing reliance on oil and developing other sectors such as agriculture, manufacturing, and services. This diversification will make the economy more resilient and less volatile [2].

Investment in Infrastructure

Investing in infrastructure, such as roads, ports, and power plants, is crucial for economic development and will improve the business environment, making Iraq more attractive to foreign investors [2].

Rejoining the Global Financial System

Reinstatement of the Dinar Rate

Iraq must work towards reinstating the dinar rate at $3.22, which was its value before the invasion and sanctions. This rate reflects the true wealth and potential of Iraq and will enable the dinar to be convertible and exchangeable with other currencies at this rate [3].

Access to Global Financial Benefits

Rejoining the global financial system will allow Iraq to access international capital markets, financial services, and technologies, which are essential for economic growth and modernization [3].

Transparency and Governance

Enhancing transparency in government operations and improving governance will boost investor confidence and ensure that economic reforms are sustainable in the long term [2].

Conclusion

Reinstating the dinar rate at $3.22 by 2024 requires a concerted effort from the Iraqi government to implement economic reforms, ensure fiscal discipline, diversify the economy, and improve governance. Iraq must also rejoin the global financial system to access the benefits of international trade and investment. Achieving these objectives will not only strengthen the dinar but also contribute to the overall economic development of the country.

PIMPY CC NOTES HIGHLIGHTS: "THE NECESSARY STEPS FOR IRAQ TO REINSTATE THE DINAR RATE AT $3.22" BY PIMPY, 16 SEPT

Summary

Pimpy discusses the necessary steps for Iraq to reinstate the $3.22 dinar rate, emphasizing economic reforms and stability.

Highlights

• 💼 Monetary Reforms: Iraq needs comprehensive monetary reforms to stabilize its economy.
• 💵 Currency Basket: Adopting a basket of currencies will reduce reliance on the US dollar.
• 🚜 Economic Diversification: Iraq should diversify beyond oil to strengthen its economy.
• 📈 Foreign Investment: Attracting foreign investment is crucial for economic recovery.
• ⚖️ Political Stability: A stable political environment fosters confidence in the dinar.
• 📊 Inflation Control: Monitoring and controlling inflation is essential for maintaining currency value.
• 🏦 Engagement with Institutions: Collaborating with international financial institutions can support necessary reforms.

Key Insights

• 💡 Monetary Reforms: Implementing monetary reforms, including deleting zeros from the currency, can help restore public confidence and stabilize the economy. This is a long-discussed yet crucial step for Iraq’s financial health.
• 🌐 Currency Basket: By adopting a currency basket system, Iraq can mitigate risks associated with dollar fluctuations, providing a more stable foundation for international trade and enhancing economic resilience.
• 📉 Economic Diversification: Reducing oil dependency is vital. Recent agreements with Turkey on agriculture infrastructure can potentially boost Iraq’s agricultural sector, indicating a step towards diversification.
• 📈 Foreign Investment: Iraq must create a favorable environment for foreign investors through regulatory reforms, which is essential for economic growth and stability.
• 🔒 Political Stability: Ensuring political stability is key to building trust among citizens and investors alike, which will lead to increased usage of the dinar over foreign currencies.
• 📉 Inflation Control: The Central Bank’s role in controlling inflation through effective monetary policy is vital for maintaining the dinar’s value, currently facing a 5% inflation rate.
• 🤝 International Engagement: Collaborating with organizations like the IMF can provide Iraq with guidance and financial support to implement necessary reforms, aiding in achieving its monetary goals.