FIREFLY:There's a lot of good information coming out soon but won't be nothing about the rate yet. Mr. Sammy [Iraqi bank manager friend] still thinks it will be right after the end of the year when they stop the auctions.
FIREFLY:There are TV commercials advertising that the Kuwait dinar is at $3.58. They are talking about our new border agreement with Kuwait. The fact they bring up this rate tells me they want to talk about our new rate against it.
FRANK: They are talking to you about Kuwait because they need an example to show you what is about to happen to your currency, your purchasing power, to show you what is going to happen to your exchange rate. There will be a change coming.
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.
MZ: I am expecting movement on the bond side which will tell us we are extremely close.
The National Retirement Authority made the announcement on Tuesday that the procedures for increasing the salaries of retirees for the month of October had been completed.
“Completing the procedures and gradually raising the salaries of retirees for the month of October, with the follow-up of the Minister of Finance and the Chairman of the National Retirement Authority, and in cooperation with the Accounting Department in the Ministry of Finance,” the Authority stated in a statement received by.
“Review the disbursement outlets to receive their retirement salaries and entitlements,” the Authority advised retirees who receive text messages.
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
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.”
