Coffee with MarkZ and Andy Schectman. 01/09/2025, 10 JAN

 Coffee with MarkZ and Andy Schectman. 01/09/2025

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. Great day for an RV!

Member: if Iraq is increasing her foreign reserves through correspondent banks, isn't that international trade?????

MZ: Yes and that is why some are getting excited

Member: Rumor is Iraq has to have an international rate by Friday in compliance with WTO

MZ: “Foreign remittances constitute about 94% of Iraq sales” They are showing us in articles how they are handling things internationally. Links or posted in my daily links .

Member: What about HCL and sanctions?

MZ: Rumor is HCL hits the floor of parliament this morning as they go back to work on it in the coming days.  

Member: why don't they just RV instead of all these extra steps jumping through different processes to get by until they RV. Just RV

Member: Tonight would be great. The stock market is shut down tomorrow so there wouldn't be any impact to that if they go live tonight imo

Member: A friend says it could go on the 20th – and it would be a 3 day weekend.

MZ: I was told a 3 day weekend is the easiest…I do have some bond contacts now saying their funds won’t release until the 21st…after the inauguration. We will see

Member: Just thinking out loud here, is it possible to get the REER, on Sat and get paid on the 21st?

MZ: It is absolutely possible. Similar to how Kuwait did theirs….In a nutshell….Kuwait got a REER (Real Effective Exchange rate) and within 10 days we started exchanging.  

MZ: I am getting some very yo-yoish news. There are still a number of banks expecting and being prepped for a rate between now and Saturday. I hope that happens.

MZ: It is confusing though because I have a couple of bond contacts who were informed by their paymasters that they would not distribute funds until after the 21st because they do not want the credit to go to the currency administration. That is what they are hearing.

Member: That makes sense to me…..less than 2 weeks away now.

MZ: But the banking side still believes its earlier….Groups have been silent for the last day or so. I believe its very close and the yo yo news means they are still doing their best to cloud the timing

MZ: What we do know is they are doing the preparations right now to make this happen.

​​Member: Hey Mark, please explain what Mr. C has to do with the Denar revaluation?

MZ: Mr. C has nothing to do with the dinar revaluation. His role is in the re-funding of the US dollar from fiat to asset backed . Those events appear to be tied together and should happen about the same time.  He will be here tomorrow if you want to quiz him on that .

Member: Wife and I went to Chase discussed currency they accept and 2 weeks later getting emailed by their private banker to meet with him.

Member: I talked to my friend who works at fidelity. she said she think the market is going to crash but she's been instructed to tell ppl not to pull out.

Member: we're so ready for this movie to be over it's longest movie I've ever watched

Member: Thanks Mark and Andy…..everyone have a good day and say warm

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

AL-SUDANI ANNOUNCED PLANS TO ENHANCE THE VALUE OF THE DINAR@DINARREVALUA...

PM: Restructuring government banks to ensure the availability of capabilities and openness with global specifications, 10 JAN

 PM: Restructuring government banks to ensure the availability of capabilities and openness with global specifications

Baghdad - INA

Prime Minister Mohammed Shia Al-Sudani confirmed, today, Thursday, that government banks with their current structures are unable to open up and address problems, indicating, therefore, they were restructured in a way that ensures the availability of all capabilities and openness with modern global technical specifications.

The Prime Minister's media office said in a statement - received by the Iraqi News Agency (INA): "Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting."

The statement added, "The Prime Minister was briefed on the plan for the restructuring project of Al-Rasheed and Al-Rafidain Banks, and the technical and administrative procedures related to the project, which includes a comprehensive review and structural administrative reforms to provide integrated banking services to citizens and companies."

The Prime Minister explained - according to the statement - that "the completion rate of the project to restructure Rafidain Bank has reached its final stages", stressing "its entry into force within the next few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications". Al-Sudani added that "government banks with their current structures are unable to open up and address the problems, and for this reason, they have been restructured in a way that ensures the availability of all capabilities and openness with modern global technical specifications".

TIDBIT FROM MARKZ, 10 JAN

 MarkZ  

  Things are looking good and there has been a lot of activity...Suddenly a lot of banking contacts have been checking in. Which is exciting.

 I have had 4 confirmations...from banking contacts that I have known for years…they are telling me now to prepare for new rates. 

 One of them said “It looks like that thing you are expecting is happening by Saturday…New rates by or on Saturday”... Stay calm though.

MNT GOAT : the Project to Delete the Zeros is still set for late Decembe...

Economist: Electronic financial transactions save Iraq from cash shortage, 10 JAN

 Economist: Electronic financial transactions save Iraq from cash shortage

monetary researcher Diaa Abdul Karim stated on Thursday that the shift closer to digital economic transactions and generalizing this to all authorities and personal transactions will keep the u . s . from a scarcity of coins.

Abdul Karim instructed, “maximum international locations within the international, and Europe especially, have moved towards digital monetary transactions, such that the subculture of managing digital playing cards in buying and promoting in various sectors has been created in society, or even with the decline of its economy, it will no longer suffer financially due to the fact its financial transactions are electronic.”

He added, “these transactions make it pointless for governments to print foreign money continuously, as this manner is financially high priced. Iraq prints a few denominations regionally and other denominations of currency are revealed abroad, and printing them fees the monetary fee of this currency.”

He explained that “the circulate toward digital transactions calls for in depth education with the intention to withdraw the cash mass from the road and to transform transactions, in particular big amounts, thru electronic cards. consequently, the citizen will now not be forced to withdraw big quantities from banks so as to buy a property, a car, and so forth., but will use his card to switch money to the other birthday party, which ensures the safety of financial transactions and stops the coins mass from being wasted and taken out of the banking framework.”

IRAQ UPDATE: The significant economic reforms being implemented by Al Sadani, which aim to transform the nation’s financial landscape, 10 JAN

 IRAQ UPDATE: The significant economic reforms being implemented by  Al Sadani, which aim to transform the nation’s financial landscape

Highlights

• 🌟 New Economic Strategy: Prime Minister Al Sadani introduces a transformative plan for Iraq’s financial future.
• 💰 Reinforcement Mechanism: The controversial dollar auction system is being replaced to enhance economic stability.
• 📈 Record Revenues: Iraq reports exceptional economic growth in 2024, largely due to favorable global oil prices.
• 🏦 Increased Bank Deposits: A surge in bank deposits indicates rising public confidence in the financial system.
• 📊 Growing Gold Reserves: Iraq’s gold reserves rank third in the Middle East, providing a hedge against economic instability.
• 🏗️ Infrastructure Investments: The government is prioritizing investments in various sectors to diversify the economy.
• 🌍 Regional Influence: Iraq positions itself as a regional powerhouse with its growing economic resilience and gold holdings.

Key Insights

• 🏦 Shift from Dollar Auctions: The transition from dollar auctions to the reinforcement mechanism represents a significant departure from Iraq’s traditional economic practices. This new approach aims to minimize corruption and ensure that financial resources are utilized for the benefit of the Iraqi people, thereby fostering greater transparency and accountability within the financial system.

• 🌍 Impact of Oil Prices: Iraq’s economy has historically been dependent on oil exports, and the current surge in global oil prices has played a critical role in generating record revenues. However, this dependence also underscores the need for economic diversification to protect against market fluctuations and promote sustained growth.

• ⚖️ Public Trust in Banking: The rise in bank deposits indicates a growing willingness among Iraqis to engage with formal financial institutions. This trend is vital for reducing the reliance on cash transactions, which can often be associated with illicit activities, and for creating a more stable and secure economic environment.

• 📈 Gold as a Safeguard: The significant increase in Iraq’s gold reserves serves as a strategic move to safeguard the nation’s wealth against economic uncertainties. With gold traditionally being viewed as a stable asset, its accumulation signals a larger effort to enhance financial security for future generations.

• ⚒️ Infrastructure and Diversification: The government’s focus on investing in sectors such as energy, transportation, and technology is crucial for moving away from oil dependency. By creating jobs and fostering economic diversification, Iraq can build a more resilient economy capable of withstanding external shocks.

• 📉 Challenges Ahead: Despite the positive developments, Iraq faces ongoing challenges, including political instability and security concerns. The government needs to ensure that reforms are not only enacted but also sustained over the long term to realize the full potential of its economic strategy.

• 🌟 Potential for Regional Influence: With its growing gold reserves and improving economic indicators, Iraq is positioning itself as a significant player in the Middle East. This newfound influence can lead to greater opportunities for collaboration and investment within the region, potentially reshaping Iraq’s economic narrative from one of conflict to one of resilience and renewal.