Coffee with MarkZ and Andy Schectman. 10/23/2024

Coffee with MarkZ and Andy Schectman. 10/23/2024

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: Good morning everyone! Let today/tomorrow - be our day!

Member: I am itching to turn in y 2 week notice!!

Member: Do u think maybe this year for the RV Mark still?

Member: I have prepared myself for at least after elections……if not a little later….

MZ: Many people think that….Mr. C thinks that….My sources continue to say right before the elections. 

Member: Any news from historic bonds yet?

MZ: I’m not expecting any news until this evening. They have some big meetings this evening. I believe somewhere around 7 pm est this evening. I do expect one heck of a bond update to give us a solid idea of what to expect on timing sometime late tonight or in the wee hours of the morning. 

Member: M.Bara says he knows 2 Whales who have been paid. 

Member: From Frank26:  Sounds like the rates have been set for the dinar and dong.

MZ: I absolutely assume they know what they are going to be. But, that doesn’t do us any good until we can go to the bank 

Member: Mark, did you see the IQD, the Ruppee, the Rubbel, and the VND get brief SPIKES in value yesterday, all at the same time, and then they went back to normal... Seems like someone is "testing"!

Member:  From Mnt Goat: The IQD rate on the QFS is $3.96!!

MZ: That is well within the range that I am expecting to see. 

Member: I think that was actually in Mtn Goat newsletter. But he's looking for 0.7 first in country

Member: I think big things will come out of the BRICS summit this week.

Member: The Golden Rule: He Who Has The Gold, Makes The Rules

MZ: “Cancellation of duties on Iraqi imports and exports in the Saudi Markets”  This is free trade with Saudi Arabia. This is a big one. This is taking Iraq to a level of prominence. 

MZ: I want to highlight this one. “ Why fluctuate in the exchange rate of the US dollar”  It occurred to me that these type of articles started appearing before the Kuwaiti Revaluation. Of course back then I friends serving in the military that were stationed there at that time. So I was getting regular updates from Kuwait. I wasn’t smart enough to purchase any but followed it to see if they were right. One day they post articles that everything is stable….the next day they publish articles saying things are unsettled and fluctuating……They keep publishing conflicting articles to keep us off-balance. This is important and exactly what we saw before Kuwait revalued 

MZ: “BoC (Bank of Canada)  set to speed up policy easing with 50 basis point interest rate cut? The bank of Canada- just like the Federal Reserve decided to rescue the government instead of the people. 

Member: What else is new?

Member: Markz what are your thoughts on Dinar/ Zim going first …then the rest vs all in basket going at the same time.

Member: If they did that…We would have a very Merry Christmas. 

Mark, if Iraq has SDR's at the IMF, does that mean they are article 8 compliant????

Member: RV exchange question can you keep your currency IQD only exchange to US dollar what you need or does it all need to be exchanged to US dollar at the time as far as you know it?

Member: Mark always said we would have 10 days to make appointments and 30 days to exchange….why wait?

Member: I pray the QFS and RV happen at the same time so we don't have to worry about losing our money in the banks?

Member: Goldilocks documents showing New Tax Laws fpr Foreign Currency January 1st...Think we're waiting to be protected??? Then again, Biblically lining up for tomorrow???

Member: I got information at the RV will happen on 15 November to 20 November. Bruce said it’s going to happen by Thursday we will be paid. Let’s all pray.

Member: Finally beginning to get a little excited! Mark, Thank You…

Member: Everyone enjoy your day. 

Andy Schectman from Miles Franklin joins the stream today. Please listen to the replay for his information and opinions 

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

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

FIREFLY: " THEY STRONGLY TALK ABOUT THE CURRENCY FLOTATION AND THE STOP OF THE CURRENCY AUCTIONS"

 

https://youtube.com/shorts/_Ao3AZQSlqs?si=ikt-e7qb9MlcoVbM

"THEY ARE ALREADY SUCKING IN THE THREE ZEROS NOTES THROUGH THE CASH CENTER" BY MNT GOAT, 23 OCT

 EXCERPTS FROM MNT GOAT

Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh.

 It is used solely for the intake of the three zero dinar notes or dollars.

 Folks they are already sucking in the three zero notes.

 What more do you want? It’s mid-October already just 14 days to the US elections. With the electronic banking and the reorganization of the banks, the citizens seem to have regained confidence in their banking system.

The reason why they had to open this new cash only center, according to my CBI contact, is that there was a huge response to ditch these three zero notes before they may become obsoleted and the lower notes replace them. Citizens remember what happened in 2004, when they had to turn in their Saddam Hussien notes by a deadline. 

Many people got stuck with these notes, as they forgot or did not trust the banks. 

They lost millions when the deadline came and they were obsoleted/voided. The CBI has not yet announced a deadline but still the citizens remember what happened back 20 years ago. So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.

Withdrawal Of The License Of Al-Mubdaa Company And Al-Nawaeer Company To Mediate In The Buying And Selling Of Foreign Currencies, 23 OCT

   Withdrawal Of The License Of Al-Mubdaa Company And Al-Nawaeer Company To Mediate In The Buying And Selling Of Foreign Currencies

 
October 22, 2024

     :diamonds: The Central Bank of Iraq decided to withdraw the license of Al-Mubdaa Company and Al-Nawaeer Company to mediate in the buying and selling of foreign currencies .. For more , click here
https://cbi.iq/static/uploads/up/file-172959272842638.pdf 
 
https://cbi.iq/news/view/2696

MNT GOAT: SOMETIME IN NOVEMBER WILL BEGIN THE PROJECT OF DELETE ZEROS WITH IN COUNTRY RATE OF $1 @DINARREVALUATION

 

https://youtube.com/shorts/Fn5XQ1HK7Aw?si=Ow3jpzmMxu93pP2h

@DINAR REVALUATION

EXCERPTS FROM MNT GOAT, 23 OCT

 EXCERPTS FROM MNT GOAT

STATUS OF THE RV

If you remember a couple months ago, at just about this timeframe, the Iraqi economist Yasser Al-Mutawali asked the question to the Finance Ministry and to the general public – “Is It Time To Remove The Zeros” ?

So, another month has passed and we still didn’t see this project executed. 

But should we? 

We have been since told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. 

This period of time through December will begin the process for the swap out with the newer lower denominations. 

To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. 

Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.

Three Obstacles Preventing Iraq From Joining The BRICS Group, 23 OCT

 Three Obstacles Preventing Iraq From Joining The BRICS Group

 
Economy | |Baghdad today – Baghdad, Tuesday (October 22, 2024), Professor of International Economics Nawar Al-Saadi revealed the reasons for Iraq not joining the BRICS group.
 
Al-Saadi told “Baghdad Today” that
 
“Iraq has not joined the BRICS group yet for several reasons related to the current economic and political situation, in addition to the fact that
 
Iraq did not meet the conditions for joining, and the most prominent of these conditions is that it be among one of the economies.”

"But Iraq has a rentier economy par excellence and depends only on the export of oil as a main source of income, which makes its economy less diversified compared to the founding countries of the group, such as  China and India."  He added:
 
"The second important question is that Iraq should have absolute financial sovereignty over its economy and not as it is now, where
 
it is subject to the rules and conditions of the US Federal Reserve in granting financial shares."  He explained,
 
"Also, Iraq's trade relations with some BRICS members, such as Brazil and South Africa, are not strong enough to support it in this direction. In addition,

Iraqi foreign policy is still balanced between competing global powers, including the United States, which looks warily at... The expansion of BRICS and its geopolitical influence,” pointing out that
 
“in the future, these dynamics may change, especially if economic diversification is strengthened and  internal political stability and absolute financial sovereignty are achieved.” He noted,
 
"If Iraq joins, it may benefit from expanding economic cooperation opportunities with countries such as China and Russia, including investments in infrastructure and non-oil sectors, and
 
this may help reduce dependence on oil and diversify sources of income."

The professor of international economics concluded his statement by noting that
 
“there are some potential harms to Iraq joining BRICS, and entering into a bloc that challenges Western hegemony, especially the United States, which may lead to diplomatic or economic tensions with the West, which negatively affects Iraq’s current commercial and political relations.” With  Western countries, and dealing with some of the BRICS founding countries, such as Russia, which faces international sanctions, may put Iraq in sensitive positions on the international scene.”

 
BRICS is a group of nine countries: Saudi Arabia, Russia, China, South Africa, India, Brazil, the Emirates, Iran and Egypt.
 
The number of members of the bloc has increased, and
 
its work focuses on the economy before politics, and seeks to break Western “hegemony” over the international system, but
 
many factors make this a long and thorny path, according to what specialists see.
 
Russia, the founding country of the group, which is engaged in a fierce war with Ukraine, hosts more than 20 leaders at the annual summit, putting forward an ambitious agenda, the most important of which is “getting rid of dollarization” and developing alternative financial mechanisms.   
 
https://baghdadtoday.news/260513-ثلاث-عقبات-تحول-دون-انضمام-العراق-لمجموعة-بريكس.html