Coffee with MarkZ.10/01/2024

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: Welcome to October

Member: God Bless YOU all for hanging on even if it’s by a thread. Praying for everyone to get through this difficult period. Praying it gets better for all of sooner rather than later. It’s been exhausting

Member: Well it’s Tuesday Oct 1….the big day when lots of things are supposed to happen. Guess we wait and see if it does?

MZ: Lots of expectations today on the bond side. Most of that will start occurring around 2 or 3 this afternoon….is what I am hearing. Another contact on the other side of the ocean has an appointment at 7:00 tonight. 

MZ: The things I could not share yesterday because I did not have permission to share….we will know if true this afternoon. Meaning Did they or did they not get paid?  We should know conclusively by this evening. 

Member: So if bond holders get paid today – I wonder what are we looking at for next steps or timing?

Member: Mark said before – we should be a few days after that….

MZ: I am expecting movement on the bond side which will tell us we are extremely close. 

Member: I wonder what is happening with the banks in regards to Basil 3?

MZ: I heard some banks are complying and some are refusing .

MZ: Some good solid stuff out of Iraq: “ The Sudanese advisor clarifies Have electronic payment procedures contributed to persevering the sobriety of the dinar?”  Yes they have. And they dive into it in this article. They announced they have succeeded in restoring the citizen’s confidence in the dinar. 

Member: I heard Iraq is having meetings today. Around 4:15 there time. To delete zeros? Hope its true

Member: A lot are posting on X about the 4:15 meeting on foreign exchange rates at the US Fed. 

MZ: This is a regular quarterly meeting that discuss foreign exchange rates. So yes that happens at 4:15 today.

Member: Mike Bara said Sudani and Maliki to be arrested if they don't Rv today?

Member: Dow is dropping like a rock this morning.

Member: Mark? Sometimes I wish I had just the right words to convince my wife our blessing is real...It is, right? Big sigh!

Member: I am sure at least Iraq will revalue sometime…to at least 1 to 1…..but as for the rest of the world……at this point not sure. 

Member: The more horrible things happen in the world the harder it is to believe in white hats or good guys……where are they?

Member: Even the bad guys need money….So we should see something happen soon. 

Member: I know it’s always darkest before the dawn….but our dawn is way overdue. 

Member: As bad as it is, we’ve been told it was going to get worse before it got better.

Member: Pray we hear something good RV-wise by tonight. So many people need help right now. 

Member: Acapulco Mexico was decimated a few days ago by storm also.

Member: There are 9 storms out there developing now

Member: I feel so bad for the Hurricane people. Many, many prayers to all of them.

There is a lot of news about the Port strikes and Hurricane and storm damage today. Please listen to the replay for all of that information 

DINARLAND UPDATE : IRAQ BOOTS ON THE GROUND REPORT BY FIREFLY @DINARREVA...

Parliamentary Oil: Basra exports will be harmed by continued smuggling in the region, 2 OCT

 Noting that OPEC will reduce oil exports from Basra because the region sells and exports oil unofficially, the Parliamentary Oil and Natural Resources Committee urged the federal government to intervene to stop oil smuggling by Kurdistan on Tuesday.

“The oil smuggling operations taking place by the Kurdistan Region require the federal government to intervene in this file, as it is an internal matter, especially since the government has great support from the political blocs that run the country,” committee member Bassem Al-Gharibawi stated.

He went on to say, “At a time when the government has worked to arm Kurdistan and provide it with advanced artillery that may be used at another time against the security forces, the regional government does not recognize the Iraqi state.”

He elaborated, “Iraq is still committed to OPEC, as it has become clear to the organization that Iraq produces and sells oil through the region at a rate of 300,000 barrels, and therefore the organization is cutting this amount from the share that is scheduled to be exported by Iraq, and this matter harms Basra’s exports without affecting the region, as it does not have official dealings to sell oil.” He stated that “Iraq is still committed to OPEC.”

RV UPDATE BY CLARE, 2 OCT

  Clare  

Article: "Al-Sudani postpones his visit to the United Kingdom due to regional and international developments"  

 Article:  "What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher" 

 Quote: "Economist Mahmoud Dagher pointed out that deleting zeros will not change...the purchasing power of the dinar...Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.

 The amount of money on offer...is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar."

DINARLAND UPDATE: RECENT UPDATES FROM BRUCE @DINARREVALUATION

Minister of Planning: The upcoming population census will draw a new map for development in Iraq, 2 OCT

 Mohammed Ali Tamim, the country’s planning minister, emphasized the significance of developing human resources as a fundamental pillar for achieving sustainable development.

Tamim noted that the government is working to implement a comprehensive reform program aimed at addressing unemployment, supporting vulnerable groups, and combating corruption during the first national conference to improve Iraq’s human capital. He emphasized the need to redirect investments towards the health, education, and social protection sectors.

He explained that human capital enhancement policies and programs are included in the National Development Plan 2024-2028. He also emphasized the significance of the population census, which will be conducted in November to provide a comprehensive database that supports development efforts.

In order to meet the challenges posed by limited resources, Tamim emphasized the need to prioritize funding for human capital investment projects and diversify funding sources.

RV UPDATE BY MILITIAMAN, 2 OCT

 Militia Man 

Article quote "Central Bank seeks to withdraw excess liquidity"  

When the central bank of  Iraq is removing excess liquidity, that's taking in dinar, what does that do?  

Enhances the value of the currency - Supply and  Demand.  Reduce the note count, the value goes up...That's the way it's always worked and it always will IMO.

 In the last week or so...there's probably five or six articles specifically talking about removing zeros from the Iraqi dinar... 

Quote:  "...this is done by removing a specific number of zeros from the nominal value of the currency." 

 From the value of the currency not the currency notes but the value of the currency...