MZ: I think this one will get us off “stuck”. Very interesting timing
MZ: “ This one just dropped. “Zimbabwe lifts exchange rate controls” in Iraq they have a fixed rate. But in Zimbabwe the rate floats and they let the market decide it and backed it with gold…but this had created a black market. By lifting the exchange rate controls…. doing this ends the black market . I’m pointing this out because it is exactly what Kuwait did when they revalued. And Iraq is talking about doing the same thing.
MZ: Tied to a basket of currencies and tied to assets and let the markets decide. To me this shows that Zimbabwe is preparing for a rest.
Member: They found a ton of lithium in the ground yesterday in Zimbawai !! I believe they finally feel good about their position with their money !??
A budget hanging on an oil thread.. The cost per barrel reveals the depth of the rift between Baghdad and Erbil.
Member of the Oil and Gas Committee, MP Ali Shaddad, confirmed today, Friday (April 18, 2025), that Article (12) of the Triennial Budget Law represents one of the most prominent reasons for the delay in sending the 2025 budget tables to the House of Representatives, explaining that it sparked a sharp dispute between the federal government and the Kurdistan Regional Government.
Shaddad's media office said in a statement received by "Baghdad Today", that "the budget schedules for the year 2025, which the government is supposed to send to the House of Representatives for approval, may be delayed due to the lack of agreement on Article (12) of the Triennial Budget Law, in addition to the decline in oil prices."
He added that "the decline in oil prices will contribute to the exacerbation of the financial deficit in the budget," indicating that "the latter was built on the basis of an estimated price per barrel of (70) dollars, which is no longer realistic in light of the decline in prices, in addition to the accumulated deficit from the past two years."
Shaddad continued, "The government is concerned about the financial obligations that may be imposed by the budget schedules," noting that "the latter has announced on more than one occasion that it is suffering from a severe shortage of financial liquidity."
He stressed that "this shortage will not affect the salaries of employees and retirees, but it may lead to delays in the disbursement of certain financial dues, such as bonuses and promotions, as well as delays in the release of governorate budgets." link
Evening News with MarkZ, joined by Dr. Scott Young. 04/17/2025
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 Evening Mark Z, Dr. Scott & Everyone !
MZ: I am back up and running with power, A.C. ect……and internet issues on the island are all squared away.
Member: Mark, is this month is still in play ?
MZ: April is still very much in play according to
the bond side and the banking side.
MZ: “ Spending priorities in the 2025 budget : Maintained salaries and projects following in the footsteps of the government curriculum” Saleh is Sudani’s economic advisor. He is the one to listen to about Iraq’s economy. He says they have the mechanism and rate will not be an issue. The mechanism is in the budget to change the rate if necessary….and they are already calling for that.
MZ: We know they have a big meeting on Saturday…the Erbil delegation is already arriving in Baghdad. “ Iraq officially reassures energy companies in the Kurdistan region and pledges to pay their dues” . This is a big one and they want the oil companies to start pumping oil and exporting again. Guaranteeing to send salary payments to Erbil. This has been a sticking point in agreements.
MZ: I think this one will get us off “stuck”. Very interesting timing
MZ: “ This one just dropped. “Zimbabwe lifts exchange rate controls” in Iraq they have a fixed rate. But in Zimbabwe the rate floats and they let the market decide it and backed it with gold…but this had created a black market. By lifting the exchange rate controls…. doing this ends the black market . I’m pointing this out because it is exactly what Kuwait did when they revalued. And Iraq is talking about doing the same thing.
MZ: Tied to a basket of currencies and tied to assets and let the markets decide. To me this shows that Zimbabwe is preparing for a rest.
Member: They found a ton of lithium in the ground yesterday in Zimbawai !! I believe they finally feel good about their position with their money !??
Member: Where do we register to get the notification for the RV ?
Member: All the dinar sites will let you know…Mark, TNT, Frank, Bruce and all intel providers will let us know…..it will be everywhere.
What are the consequences of basing the budget on an oil price of $55?
Economic analyst Abdul Rahman al-Mashhadani warned on Thursday of the repercussions of basing the oil price at $55 per barrel on the general budget law. He noted that this measure will lead to a financial deficit exceeding 80 trillion dinars, threatening a stifling economic crisis in the country.
Al-Mashhadani told Al-Maalouma, “Adopting a price of $55 per barrel in the budget is unrealistic in light of the ongoing fluctuations in global markets, and could result in a huge financial deficit that would exacerbate Iraq’s economic and financial crises.”
He added,
“Some experts believe that reducing the price of oil to $55 per barrel could increase the fiscal deficit, reflecting the inaccuracy of this budgeting mechanism.” He emphasized that "continuing this approach could lead Iraq to a real economic catastrophe."
Al-Mashhadani pointed out that "the only solution lies in the government's deliberate reduction of operating and investment expenditures and its efforts to diversify sources of income instead of relying entirely on oil revenues." He called for "the development of a comprehensive economic reform plan that relies on the private sector, agriculture, industry, and tourism as alternative and sustainable sources."
A number of experts suggested that calculating the price of a barrel of oil at $55 is the most appropriate option to address the current financial crisis, given the realism it provides in the estimates and the avoidance of falling into a larger budget deficit. link
I think we’re very close…Haven’t you noticed the change in pattern?
…Articles. Didn’t you notice? …That’s where all the truth, all the vital information that we need about this investment is at. This is called the Asraflak. Asraflak is when they’re giving the financial literacy education of the monetary reform, that I promised you was going to happen. That’s where we’re at.
[Iraq boots-on-the-ground report]
FIREFLY: Sammy wants to talk to you. The reason you don’t see the budget is the same reason you don’t see the back pay paid out or the oil not restarted because it’s all related to the budget tables and a rate.
FRANK: I agree 100%...I agree with you Mr. Sammy because if you sit back and look at the whole picture of the monetary reform there’s only one thing missing – a new exchange rate that makes everything work. That makes everything make sense because nothing is logical at 1310.
Community comment: “$6.47 like it was in my dreams!“
I don’t think it could ever reach something like that…because that would cause a domino effect with the other Middle Eastern currency values. It would be the opposite of what we’re doing right now, an undervalued exchange rate. We would be dealing with an overvalued exchange rate. That would really mess tings up in imports and exports.