USD/IQD exchange rates stabilizes in Baghdad and Erbil
Shafaq News/ On Thursday, exchange rates for the US dollar stabilizes in Baghdad and Erbil with the closure.
According to a Shafaq News survey, Al-Kifah and Al-Harithiya central stock exchanges in Baghdad registered a rate of 150,800 IQD per $100, the same as recorded at morning.
The selling rate in local currency exchange shops in Baghdad reached 151,750 IQD, while the buying rate was 149,750 IQD per $100.
In Erbil, USD also recorded stability, where the selling price was 150,700 IQD per $100, with a buying price of 150,600 IQD.
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: TGIF and Good morning to all
Member: Happy Friday to Mark and all the Mods
Member: Woke up financially poor but blessed and so rich in so many ways. Any news overnight Mark?
MZ: Good morning Got some really interesting news from some groups. I find it curious that the wording was so similar between them all.
MZ: I got another report this morning similar to reports I got yesterday makes me confident enough to share. I was told by a couple of groups and a Indian Nation source that “funding transactions should be complete in the next few days”
MZ: That means in the next few days these folks expect people to be funded. This would be huge. Buckle up.
MZ: Speaking of Indian Nations: Donald Trump yesterday officially recognized the Lumbee Indian Tribe…This is wonderful and way overdue.
Member: Just Saw the Memo to Secretary of the Interior Recognition of 'Lumbee Tribe'-Wonderful!
Member: as a member of the Cherokee tribe of northeast Alabama, I am encouraged by Trumps actions. We are recognized by the State of Alabama but not yet recognized by the US govt.
Member: What does this mean for the Indian Nations?
MZ: Part of the Fines and Penalty settlements is settling out historic debts that are owed. For the Indian Nations it would be a tremendous inflow of cash. By recognizing the lumbee Nation they would get paid benefits from the US government.
Member: Are your banking/redemption contacts working this weekend?
MZ: I do not know…yet
Member: Any bond news?
MZ: Nothing specific on bonds. But one of the groups that got the memo to expect funding in a few days were bond holders.
Member: Are Bond holders under NDA’s?
MZ: Ablsolutely positively – some are . but some are not and they are still talking because they have not been paid yet.
MZ: Multiple forex traders have reported that they have had to sign new “terms of agreements” focusing on currency exchange values. I find that very interesting and believe it is a key thing to do before they flip the switch.
MZ: “The $25 Billion cost of Iraq’s oil deadlock” Without the oil flowing to Turkey-this is the financial consequences of Baghdad and Erbil’s fight over all these things in the budget. They have already lost $22 billion in under 22 months just from the pipeline not flowing……not counting all the other oil revenues
MZ: “Trump’s storm hits OPEC and ignites fears in Baghdad” From Remarks given by Trump at Davos…..and “Drill Baby Drill” in the US…caused a drop in oil prices below $75.This will lower the cost at the pumps for us…..and lower the cost of groceries soon …But Iraq is still well in the range they need for the RV.
Member: didn't Iraq say $40 oil would support their economy?..
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MZ: This one is interesting: “Central Bank of Libya introduces new LD 5,10, and 20 denominations” why would they print bills that cost more to print then they are currently worth….unless they were expecting new values? We are seeing this now happening in other countries as well. Pretty unnecessary unless things are going to change.
MZ: “Trump signs sweeping Crypto Currency Bill” and buried in this “No Central Bank Digital Currency” so CBDC’s are outlawed by Executive order.
Member: That is wonderful news……
Member: Trump EO promoting crypto currency…. Didn't our constitution say money/coinage to be gold /silver backed
Member: IRS elimination -- H.R. 25 Congress Bill. According to the Congress' site, it's in front of the Way and Means commitee
Member: I wonder -is Trump going to the Reno treasury today or simply there to thank Nevadans for their vote?
Member: Mark... I have very strong and long time contact shared that her friend is a Paymaster and was summoned yesterday to Reno for the weekend.
MZ: He is supposed to make a stop in the Reno area…..we will see.
MZ: I am so ready for this to be over.
Member: If all the emergency funds for keeping the Givt open till March ran out the day after Trumps inauguration why no one saying anything about that?
Member: Probably another bit of “misinformation?”
Member: IMO: with the amount of corruption in our banking systems around the world, The Chinese elders will never feel comfortable releasing this money for the RV unless the entire fiat system is shut down.
Member: MarkZ - are they waiting for the repeal of Income Tax before they release the RV? That would make sense…..
Member: (From Dinar Guru) Mnt Goat There is new sheriff in town and his name is Donald Trump. What will his policy be towards the Iraqi financial system. Four years have passed since his last administration and there has been way too much progress in the banking and financial reforms to turn back to the days of the prior Trump administration laden with sanctions. I am told by my CBI contact that Al-Sudani is hoping for an invite to visit the new President in Washington, or better yet have him come to Iraq...
MZ: It will be soon
Member: will this RV ever happen????
Member: Alot is happening! praise God!
Member: I know we're all anxious. Remember- Mark is giving us the info he receives. He is just as anxious as we are. Please keep positive
Member: Always REMEMBER, "You've got to have a dream, if you don't have a dream, how ya gonna have a dream come true"?? That's MY story and I'm sticking to it!!!
iraq revives oil production from 20 wells in Kirkuk: Source
Shafaq News/ Iraq's Jambur oil field in Kirkuk has resumed production from 20 wells, while an Angolan company signed a contract to drill 13 wells in the Qayyarah oil field of Nineveh Province, a source from the North Oil Company (NOC) reported on Friday.
The source told Shafaq News, “The NOC has launched field development projects to enhance production in its Kirkuk fields. Technical and engineering teams successfully restored 20 wells in the Jambur field that had been inactive for years, adding around 10,000 barrels per day (bpd) to output.”
“Currently, production ranges from 300,000 to 350,000 bpd, down from 500,000 to 750,000 bpd about 13 years ago.”
Notably, the Jambur oil field is located northeast of Kirkuk, parallel to the Kirkuk and Bai Hassan fields, and has been in production since August 1959.
In a related development, the source noted that “Sonangol, the Angolan operator of the Najmah and Qayyarah fields in Nineveh, has signed a contract with Iraq Drilling Company (IDC) to drill 10 development wells, along with three optional appraisal wells in the Qayyarah field.
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The Arab Well Logging and Well Services Company (AWLCO) also participated in the turnkey contract. All parties are committed to completing the project within the set timeline, which is expected to increase Qayyarah's production to 15,000 bpd.
In December 2009, Iraq’s Ministry of Oil signed two preliminary agreements with Sonangol to develop the Qayyarah and Najmah fields. The company secured the contracts by proposing fees of $6 per barrel with a production target of 110,000 bpd for Najmah, and $5 per barrel with a target of 120,000 bpd for Qayyarah.
MarkZ: I do know someone from inside the new administration who has absolutely every reason to be “up to speed” because of where they are at.
They are saying that the value change in currencies is on the absolute top of their list. It was reassuring to hear that from a political source that this is a priority. Also this person is a currency holder. This revaluation would fix a lot of problems. I cannot say more without getting into lots of trouble
Shafaq News/ On Friday, the Iraqi Ministry of Electricity announced that 75% of the Gulf power grid connection project, designed to supply the country with energy, has been completed.
A delegation headed by the Ministry's advisor, Abdul Hamza Aboud, met in Basra with Mohamed Shaikh, Deputy CEO of the Gulf Cooperation Council (GCC) Interconnection Authority, and representatives from the electricity and energy ministries of Gulf countries, the ministry stated.
"The draft energy exchange agreement with GCC countries has reached an advanced stage, with over 75% of it completed,” it confirmed.
The meeting followed up on discussions from the initial meeting in Dammam, Saudi Arabia, where the draft agreement was reviewed. "The agreement includes the construction of two 400KV high-voltage lines linking the Kuwaiti Al-Wafra station to the Al-Faw secondary station, as well as the addition of two transformers at the Al-Faw station," the ministry explained.
Notably, Iraq has long struggled with chronic power shortages, particularly during the scorching summer months when temperatures soar to 50°C. Decades of wars and sanctions severely damaged the nation's power infrastructure, leading to widespread blackouts.
In response, Baghdad is focusing on regional electricity interconnection projects to stabilize its grid. The Gulf interconnection is set to add 500 megawatts to Basra, while a separate link with Saudi Arabia will initially supply 1,000 megawatts. These efforts are crucial, but Iraq remains reliant on Iranian gas, which has been unstable.