The whole de-dollarization phase the monetary reform is going through right now is in order to not use the American dollar any longer. This system was meant to be temporary. It was not meant to last 20 years...They have stability and security. These are the 2 factors we've been seeking. They tell you they have it. De-dollarizing is the last part before you introduce a new exchange rate and a new currency into a country...I should say de-foreign-currency-izing...A country should not have many currencies. It causes many problems
At what rate will the IQD go into the [Middle East] basket? I don't know...This is an RI. This is the reinstatement phase. The goal is to reinstate the value that the Iraqi dinar once was proud of...It's a reinstatement to get to the Real Effective Exchange Rate (REER) to a float. The key is to let them get to that number.
Article: " A government source reveals the Sudanese measures to reduce the dollar to its official price" IT IS BECAUSE THE IQD IS GOING UP IN VALUE AGAINST THE USD...NOT THE OTHER WAY AROUND!
Have we not been saying to you over and over again look for it in the beginning, in the middle or at the end of a quarter...Iraq is on a fiscal calendar year. January 1st to December the 31st. This is the end of a quarter. It is all about the accounting. It's all about the numbers.
A Noticeable Decline In The Dollar Exchange Rate Amid Anticipation In The Markets
Economical 12/25/2023 Baghdad: Al-Sabah Dollar prices have decreased significantly in the past few days throughout Iraq, as the end of the current year approaches, with the market awaiting fear of its fluctuation or rise again.
While the Iraqi government believes that the decline in the price of the dollar was due to several reasons, including “the high capabilities of Iraq’s currency reserves,” the stock market, specifically in Sulaymaniyah, had another opinion as it warned of an increase in its price due to the New Year’s holiday.
The government’s comment came from Mazhar Muhammad Salih, the financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, in which he said:
“Among the reasons for the decline in the dollar exchange rate in the parallel market are the high capabilities of Iraq’s foreign currency reserves and the good management of foreign trade financing during the last period.”
Saleh stated that “the parallel market is gradually approaching the official central market, due to the presence of regular foreign trade by the private sector through the compliance platform and the great flexibility that banks have shown in dealing with this platform for the purpose of securing transfers.”
He added, "The openness to transfer through various methods, including payment cards in all their forms, importing foreign cash currency into Iraq, and financing foreign trade in various currencies, and not limiting this transaction to the dollar only, led to a decrease in the dollar exchange rate in the parallel market as well." The financial and economic advisor to the Prime Minister continued,
“The monetary policy of the Central Bank is exercising its role precisely and positively and in accordance with short- and medium-term plans to maintain the stability of the national economy, and for this reason the exchange rate will continue to decline in the parallel market.” https://alsabaah.iq/89279-.html
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: Top of the Morning All
Member: Happy Wednesday Bringing smiles into the new year to all blessings
Member: I believe Nader is doing a video with Angel one from MilitiaMans crew at 11 AM est today.
MZ: I will wrap up a little early so you guys can go watch it. With so much news on the exchange rate coming out of Iraq- It should be a good one
Member: We have a double feature today with you and Nader , awesome!
Member: Militia Man also did a great video last night
Member: Frank26 was rockin yesterday. So happy I caught the live. Praying Mark’s intel confirms it all
MZ: “Al-Kadhimi: Iraq’s treatment of a basket of currencies reduces the dominance of the dollar and the government with an economic battle” This is more on what they are doing to control exchange rates.
MZ: “The Iraqi dinar overthrows the dollar and wins the struggle to control the regular market” they are winning the battle of the exchange rate and the battle for the economy. They have expanded their foreign currency reserves.
MZ: Iraq is working on a “Equal deal” with China Iran and India for trade and imports. . This is part of the de-dollarization they plan to finish by Jan 1st. .
Member: Bo Polny is looking for the dollar to crash starting today….
Member: How the heck is the stock market so high? It’s obvious its manipulated.
MZ: It’s a melt up…..this is very similar to things that happen just before a crash. It does a crazy melt up- goes sideways and then crashes.
Member: Rumor is Fiat currency is supposed to be gone on January 1st and the Republic Gold back Notes are suppose to be out. I think something is coming...
Member: After months of unreasonable rise in dollar prices in local Iraqi markets,The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market
Member: Do you see any problem with the RV now that they have closed the Red Sea?
MZ: I don’t see any problems that would negatively affect the RV… I do see some things that would positively affect them. We have talked about shipping yesterday and the fact that Iraq is becoming a hub in the region….using overland, ports and rails. Iraq is a key and very important location.
Member: They are building new shipping routes.
MZ: Exactly – watch what happens….It’s getting “crunch “ time.
Member: Is the dong still a go at $3-$3.50?
MZ: I still put it at $2 -$2.25 ish. But I still hear from some folks it may be as high as $3+ range.
Member: Fox Business Network mentioned Basil III end game yesterday....Virginia could be removing the car tax... a lot of interesting stuff happening.
Member: What will fiat dollars be worth vs asset backed US notes?
Member: Supposed to 1 to 1- at least for a time.
MZ: Mr C has not been paid yet.
Member: This whole process is moving to slow for me ugh
Member: How's about we get to the end of this movie?
Member: We are getting close to a wrap up of 2023, and slide into 2024……
Member: And hopefully a slide into the RV.
Member: Wishing everyone prosperity. May it bring a calm, joyful & open heart. A clear, open & present mind. A peaceful soul. An abundance of love & laughter. The knowledge & wisdom to make good decisions.
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
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Shafaq News/ The “Rights” parliamentary bloc demanded, on Wednesday, that the American ambassador to Iraq be summoned and that a note of protest be handed over to her against the bombing of the Popular Mobilization Forces camps, as well as the internationalization of the assassination of the former deputy headof the Popular Mobilization Forces, Abu Mahdi al-Muhandis.
A statement received by Shafaq News Agency stated that the head of the bloc, Saud Al-Saadi, directed several parliamentary questions to the Ministry of Foreign Affairs, asking it to explain the reasons for the Ministry not summoning the American ambassador in Baghdad and handing her an official note of protest regarding the repeated violation of Iraqi sovereignty and the bombing of the Popular Mobilization Forces headquarters in Babylon on Tuesday, Which resulted in many martyrs and wounded.
Al-Saadi asked about “the international and legal measures taken by you before the United Nations and international forums regarding the violation of Iraqi sovereignty by American forces in relation to the crime of assassinating the Chief of Staff of the Popular Mobilization Forces and the guests of Iraq on January 3, 2020?”
He stressed “a statement of the final results of the efforts and actions taken by your ministry regarding the internationalization of the Baghdad Airport crime committed by American forces in 2020.”
Yesterday, Tuesday, the White House announced that United States President Joe Biden had directed air strikes on three sites belonging to Kataib Hezbollah and its affiliated groups in Iraq, in response to the attack that targeted a military base in Erbil and resulted in the injury of three American soldiers.
The White House said in a statement that US Secretary of Defense, Lloyd Austin, briefed President Biden in a phone call on Monday afternoon about the incident, and several options were presented to the president, and Biden ordered the strikes during that call.
US Defense Secretary Lloyd Austin announced this morning that US forces launched strikes on three facilities used by Kataib Hezbollah and its affiliated groups in Iraq.
Yesterday, Tuesday, the Iraqi government condemned the American air strike that targeted the headquarters of factions under the umbrella of the Popular Mobilization Forces, resulting in the fall of a member and the wounding of 18 others, including civilians, in response to the attack that targeted a military base in the city of Erbil, which led to casualties among the ranks. U.S. military.
On January 3, 2020, an American drone targeted a convoy carrying the Chief of Staff of the Popular Mobilization Forces, Abu Mahdi al-Muhandis, and the commander of the Quds Force in the Iranian Revolutionary Guard, General Qassem Soleimani, killing them and those accompanying them.
Article: "The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market” Quote “The US Treasury continues its cooperation with the Central Bank of Iraq,as many Iraqi banks have now formed relationships with international banks for the first time.”
Article: " CBI Governor: Int'l welcome to the Iraqi banking sector’s commitment to compliance rules" Quote: "For the first time, Iraq is witnessing the reorganization of the external transfer process through correspondent banks, instead of the Central Bank or the Federal Bank being the executive interface for this process.”