Iraq Implements Banking Agreement with Turkey, Joins EBRD, and US Strikes Militants
The Iraqi Government has initiated the implementation of a significant banking arrangement agreement with Turkey, a move designed to strengthen the economic ties between the two nations, as reported by an undisclosed government source to the Iraqi News Agency (INA). This initiative, which kicked off last Sunday, involves the Central Bank of Iraq providing tens of millions of euros to fortify retail traders’ imports from Turkey.
Payment Process Simplification
Under the new financial arrangement, Iraqi traders are making payments in Iraqi dinars, which are then reinforced by the Central Bank with euros. Subsequently, settlements with Turkish traders are made in Turkish lira. The purpose of this financial setup is to facilitate easier transactions for Iraqi retailers importing goods from Turkey, thereby ensuring a smoother trade flow between the two countries.
Iraq Becomes 74th Shareholder of EBRD
In related news, Iraq has joined the European Bank for Reconstruction and Development (EBRD) as its 74th shareholder. The EBRD, in a statement, clarified that Iraq, as a shareholder, can now apply to become a recipient economy. This status could enable Iraq to benefit from EBRD’s finance and policy support. The EBRD board has greenlit an amendment to the agreement, expanding the bank’s operations into Iraq.
US Military Engages Militants in Iraq
In other developments, the US military announced on Tuesday that it engaged five militants preparing to launch a one-way attack drone in Iraq. The operation resulted in the death of all five militants and the destruction of the drone. Iran-backed militants have been targeting US troops in Iraq and Syria, with at least 76 incidences reported since October 17, according to American defense officials. The US military informed the Iraqi Security Forces of the strike, who then confirmed the death of the militants and the destruction of the drone.
Central bank boosts tens of millions of euros as initial payment to cover imports from Turkey
Economy News - Baghdad
The central bank has boosted tens of millions of euros as an initial payment to cover imports from Turkey, a government source said on Tuesday.
"In implementation of the banking arrangements agreement made with Turkey during the past week, the Central Bank of Iraq has since last Sunday, December 3, strengthened tens of millions of euros as an initial payment," the source said.
He added that "this aims to cover the imports of retailers from Turkey, through Iraqi traders paying in Iraqi dinars and the Central Bank's reinforcement in euros to settle with Turkish traders in Turkish lira."
Thank you MarkZ for all your time, and encouragement daily….. PDK
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 Mark, Mods and family.
Member: I heard that the rate at banks would be different from those at redemption centers. Is this true?
MZ: That is what we have been told. That the rates will be higher at redeeming banks/centers than if you just walked in off the streets .
Member: I have seen photos of banks getting ready.
MZ: IMO they are clearly gearing up.
MZ: Not really any news overnight ……still quiet. There are many reports on the boards that CMKX, has been paid, farm claims have been paid, fines and penalties have been paid…..Well that is BS. We have hundreds..maybe thousands of CMKX shareholders in our community….we have dozens that have farm claims…..4 of the original farm claims people….in our midst….we will be able to tell you when they all get paid.
MZ: So for the intel people that are reporting these things….please take 2 seconds to verify before getting people hyped up….Its 100% not true that these things were paid…….yet. Yes we are close and things look great…..if you are not certain …not positive about something….say it’s a rumor……that’s all you need to do. Please stop saying things are facts unless its 100% certain.
MZ: We are seeing many reports…even in mainstream news that we may have a bank crash this mid December….around the 15th…..even Jaimie Dimon is calling for a apocalyptic bank event.
Member: When I first started, it was "any time". Then we found out things that needed to occur first. Are we aware of anything else that needs to occur now?
Member: Dear God I hope it’s all finished and ready to go.
Member: Weren’t we excited about banks and redemption centers gearing up this time last year? What made us excited then,..if things are only happening now?
MZ: Because they were clearly preparing then. They are even more geared up now. Perhaps they were doing early preparations and we read too much into them because we desperately want it? We are guilty of that.
Member: I hope we're not asking that same question next year!
Member: Where are those redeeming banks?
MZ: They will be all over. They could be right down the street from you. They are not going to give us redemption center locations until it is time to set appointments. For security reasons. It is a well guarded secret for now.
Member: MilitiaMan says Iraq is going to start spending budget funds on Dec 6th.
MZ: Iraq has also told us there will be no budget deficit in 2024. Next years budget starts Jan 1st. Without a revalued currency their deficit should be over $100 billion dollars. …so the only way they cannot have a budget deficit is with a change of value in their currency….that is news worth reporting.
Member: Wy bank story…. Teller was telling my sister they are ready to switch to a completely different system. Trained and ready to go!!!
Member: I heard Reno is funded- I confirmed with my Reno contact, one notch above us. We are at the wire with this RV folks!
Member: What do you think about the golden yuan going live this Thursday?
MZ: I have not heard its happening this week…but that it could possibly go live a week from this Friday on the 15th…That is what I am hearing. We will see….but, when it happens I believe that will be the death of the Petrodollar.
Member: goldilocks said Iran is on the fast track to BRICS. They join Jan 1
MZ: Along with 6 others including Saudi Arabia.
MZ: And Iraq says they will be totally de-dollarized by Jan 1st. They are telling us what they are doing.
Member Thanks to everyone for the encouragement today……looking forward to hopefully big news tonight…..
Member: It’s the season of miracles…….keep the faith.
StacieZ joins the sstream at the end. Please listen to the replay for all the information.
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THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics.
World Bank Article...the part here I like the most: "...an expected influx of imports driven by the dinar revaluation and the significant increase in government expenditures..."
If you think about this for a minute if they give the citizens purchasing power are they not going to drive up an influx of imports because everybody has a little bit more money to maybe buy a new car, carpets, paint their house, build an addition to their home. They're going to have that extra money for those kids...
The World Bank has an expectation of influx of imports due to what? '...Driven by the dinar revaluation...'
Article: "It's time for the Iraqi economy to be linked to the global economic cycle. Al-Sudani stresses the government's endeavors to achieve an industry that exports its product outside Iraq."
That's exactly what we need. Everybody knows Iraq has been an import country and they've been using oil as a revenue stream. Now they're going to go from a rentier oil industry to a non-oil revenue stream country...You have the industrial cities, liquid natural gas, tourism, agriculture...Iraq is filthy with minerals.
Article: "It's time for the Iraqi economy to be linked to the global economic cycle. Al-Sudani stresses the government's endeavors to achieve an industry that exports its product outside Iraq."
That's exactly what we need. Everybody knows Iraq has been an import country and they've been using oil as a revenue stream. N ow they're going to go from a rentier oil industry to a non-oil revenue stream country...You have the industrial cities, liquid natural gas, tourism, agriculture...Iraq is filthy with minerals.
What we're seeing is probably one of the most exciting times we've ever been in and there's more to come...
We all see the writing on the wall at this point in time that Iraq is going to go international. They're going to be part of the WTO. With them going to the private sector you can just see it's going to be a robust economy in this country.
FIREFLY: TV says we are moving towards monetary sovereignty.
FRANK: The reason they tell you this is because it's moving towards a monetary sovereign national currency that will replace the 3-zero notes that are worthless and also replace the American dollar...They're not hiding anything. It's not a secret. Everything is out in the open...
FIREFLY: TV saying CBI has come a long ways in battling the dollar and the battle is about to come to end.
FRANK: Yeah, darn right! The theme, mantra, ambrosia in the taste of Iraq's monetary reform is repeating the same thing over and over, It's about to come to an end. What? The dollar. Which means our currency is going to blossom
FIREFLY: Television saying private banks and exchange companies are expressing the preparation in reducing the exchange rate.
FRANK:Oooo, snap!
FIREFLY: For the first time we're seeing a video. It's new. It's 10 minutes long. It's being shown to us every day now this week... They say they are dedicated to the Iraqi citizens to keep us updated on the changes by the banks on our new monetary system reform...It will be every day updating us on new financial news.
FRANK: They told them now every day for 10 minutes during the financial report of Iraq Channel One we're going to start to talk to you more about the monetary reform...These are the things we told you they were going to do. Pretty cool.
FIREFLY: For the first time we're seeing a video. It's new. It's 10 minutes long. It's being shown to us every day now this week... They say they are dedicated to the Iraqi citizens to keep us updated on the changes by the banks on our new monetary system reform...It will be every day updating us on new financial news.
FRANK: They told them now every day for 10 minutes during the financial report of Iraq Channel One we're going to start to talk to you more about the monetary reform...These are the things we told you they were going to do. Pretty cool.
FIREFLY: Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq. They're saying this is the head of the snake. They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens.
FRANK: These events...are extremely powerful events to allow the new exchange rate to come out.
FIREFLY: Iraq's security teams arrested the most dangerous foreign currency smuggler inside of Iraq. They're saying this is the head of the snake. They tell us that by removing this man our reforms will continue and move forward as has been promised to us Iraqi citizens.
FRANK: These events...are extremely powerful events to allow the new exchange rate to come out.
Two months ago a quick little pip movement took the exchange rate of the Iraqi dinar from 1460 to 1320...They were supposed to make the next step.
I told you at that time, 'Now that they've made this movement, let's say 1320 to 1, the next one will be 1,000 to 1 and when they do they will be in position to lift the three zeros and float the currency in a basket...'
Article quote: "Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar." What?!?
Word for word of what we taught you...This is the last step. IMO the CBI is going to be going to the US Treasury next week...This is exactly what we want next
FIREFLY: Television is talking to us all day about the government taking measures to address the exchange rate and the parallel market but they can’t change the rate. They say only the CBI.
What’s going on? Why don’t the CBI help?
FRANK: Calm down, calm down…As far as parliament saying whatever they are saying…who cares. Their voice is an echo in the abyss of darkness.
Question: “Has anything changed in regards to Iraq satellite banks exchanging dinars for US citizens?”
No. They will follow American banking laws. They won’t do anything different than any American bank is doing in American territory.
You want to know the exchange rate of the BRICS because maybe, maybe the Iraqi dinar will be 1 to 1 with a basket of BRICS. Maybe…one clue. It’s an RI not and RV.