Most recent banker update occurred shortly after 10 am this morning. Word from those higher ups was were ate in a 26 to 36 hour window for announcement with 04/21 still being an important day for the banks.
Should have been 24 to 36 hour window
Yes 3/21, sorry for the fat fingers
mentioned this in this room I communicate with Okie Oilman who also has many contacts dealing with bondholders and currency officials, both here and in Europe. I bring this up just to assure everyone that Okie is still working very hard to provide confirmable information to get us along the road where we all wish to be.
He confirmed several items tonight that I had heard along with some very valuable news items none of us had heard before.
So please keep praying for Okie as he continues to work for us as his health permits. Thanks and GOD Bless for reading this.
Well we came in second but congratulations to Seeds of Wisdom for being able to assist those less fortunate.
Parliamentary Finance: Delaying the budget had a negative impact on the performance of the ministries
The first 03/17/2024 The Parliamentary Finance Committee called on the government to expedite sending the budget to the House of Representatives, especially since its schedules have not undergone any change and its chapters are fixed, indicating that the delay is blamed on the government and thus reflects negatively on the performance of the ministries. Committee member Faisal Al-Naeli said in an interview with Al-Sabah:
“The budget schedules for the year 2024 were long overdue, and it would have been more effective for them to reach the House of Representatives at the beginning of this year, especially since the items are fixed and remaining and no discussion or change has occurred to them, only the schedules that It included financial allocations for items that were confirmed in the 2023 budget.
He believed that "the delay is blamed on the government, and all ministries that depend on operating the budget are basically at a standstill."
Al-Naili called on “the government to send all the budget schedules, complete and calculated accurately, so that they are not returned to the Council of Ministers and take time to change, delete, and add,” indicating that “the House of Representatives is ready to discuss the budget as soon as it arrives and complete the approval of its schedules.” Edited by: Wael Al-Maluk https://alsabaah.iq/93580-.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: Good Morning…….It's Marvelous Monday!
Member: Hope everyone had a good weekend….still no Rv...I'm just amazed at how it just lingers on and on
Member: Sure is lots of good rumors but no action…….this is exhausting
Member: We are the donkey that just can’t reach that carrot
Member: Yesterday was the 21st anniversary of US sanctions imposed on Iraq by George Bush Sr. Today would be a great day to lift those sanctioned restrictions on dinar and let the dinar strengthen internationally.
MZ: Yes it would be.
MZ: I think things are in a mad dash to the finish line….We have an impending visit from Sudani here in the Us….We have Sudani on Friday mentioning the rate of $1.32….which is very specific.
Member: Isn't the Fed having a meeting tomorrow? Wonder if it will pertain to Al Sudani's visit or intent to revalue?
Member: Rod Steel posted on X that we should be seeing something on the RV and that banks were told to be ready this week.
MZ: I can confirm this. I have a number of banking contacts that have launched into overdrive for this week …Lots of people expected announcements overnight last night.
Member: Militia Man was really good last night about the REER.(Real Effective Exchange Rate)
MZ: Yes It was great. MM’s update about the electronic platforms being wildly successful is key to them implementing their change in value. And the Real Effective Exchange Rate (REER) is expected this week according to Iraqi contacts. Most of my Iraqi contacts expect it by April 1st. Praying they are right .
Member: So no news from bond contacts because of NDA”s
MZ: Quite possibly . I am missing more and more of my group related whales…and more and more of my whales on the bond side who are suddenly “unable to speak….or unwilling to speak.” . A couple of them expressly said they couldn’t talk anymore- NDA.
Member: Wish we knew what rates would be so we could plan
Member: This 1.32 thing…so is that just prep or will we be looking at that for a rate?
Member: The $1.32 rate is actually .76 cents US for each dinar…..Al Sudani promised the Iraqi people the dinar would be stronger than the dollar. . 76 cents is NOT stronger.
Mod: ALL RATE QUOTES ARE GUESSES… WE WILL NOT KNOW WHAT REALITY WILL BE SHOWN WHEN THE RATE COMES OUT
MZ: They may be floating the rates of $1.32 and .76 cents to get people ready for a change. I still think it will be more in the $3 or $4 range…but I could be wrong. IMO $1.32 and .76 cents rates would still be fantastic..
Member: Will the increase in exchange rate eliminate the parallel market immediately? U would think that would be the easiest way to get rid of it ?
Member: so bank or redemption center?
Member: a redemption center is a bank that can authenticate currency on site in front of you
Member: SOMEONE POSTING ON DINAR RECAPS SAID REDEMPTION CENTERS WOULD BE IN MILITARY BASES… IT WAS LATER THAT IT WAS SAID THAY WILL BE IN BANKS AS WELL.
Member: I would feel safe exchanging on a military base with all their security.
MZ: I would like to point that when we talk of redemption centers….these are redeeming banks …BANKS….not some sleezy back alley place. BANK locations with trained staff to exchange currencies and have equipment to verify foreign currency in front of us…..I do not understand the confusion and the fear that is out there. Makes zero cents to me why people are so confused.
Member: Frank 26 is convinced the Zim is worthless …we'll see
Member: Pres. Trump gave Zim away as gifts on his show told the recipient that it would be worth something big someday. That should tell you something.
Member: He should have let the reset go when he was president and had some power….Our lives would have been so much better if he would have.
MZ: 2 really high hitters-global attorneys and paymasters convinced me that the Zim was worth a shot. And that the Zim bonds will be used for humanitarian purposes…not as currency.
Member: Is Zimbabwe joining BRICS?
MZ: They are sure attempting to join BRICS.
Member: Mark - I drove down Ventura Boulevard in Los Angeles last week, and every HALF MILE there is a WellsFargo "Wealth Center" (NOT a bank nor ATM site) !!!
Member: Will this awful movie will be over before November??
Member: Will this awful movie be over by April 1st???
Member: Thanks to Mark and Mods…….Everyone have a great day.
Member: Happy birthday to all celebrating today.
Stacie Z joins the stream today. Please listen to the replay for her information and opinions.
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Parliamentary Finance Calls On The Government To Expedite Sending The 2024 Budget To Parliament
Economy 11:37 - 2024-03-17 The Parliamentary Finance Committee called on the government to expedite sending the budget to the House of Representatives, especially since its schedules have not undergone any change and its chapters are fixed, indicating that the delay is blamed on the government and thus reflects negatively on the performance of the ministries.
Committee member, Faisal Al-Naeli, said in a press interview: “The budget schedules for 2024 were long overdue, and it would have been better for them to reach the House of Representatives at the beginning of this year, especially since the items are fixed and remaining and no discussion or change has occurred to them, only the schedules that included financial allocations.” For the items that were confirmed in the 2023 budget.
He believed that "the delay is blamed on the government, and all ministries that depend on operating the budget are basically at a standstill." Al-Naili called on “the government to send all the budget schedules, complete and calculated accurately, so that they are not returned to the Council of Ministers and take time to change, delete, and add,” indicating that “the House of Representatives is ready to discuss the budget as soon as it arrives and complete the approval of its schedules.” https://kirkuktv.net/AR/Details/20039
Everybody thought Iraq was at the end of becoming a member with the World Trade Organization...Come to find out they're just barely at the beginning stages.What does this mean for Iraq? How long is this going to take? Wikipedia quote:
"An offer of accession is given once consensus is reached among members. The process takes about five years on average but can take some countries almost a decade...The shortest accession negotiation was...2 years and 10 months. The longest were that of Russia lasting 19 years and 2 months."
It [the article] doesn't say the exchange rate is $1.32, more likely what it is Al-Sudani will change the exchange rate where you can buy 132 dinar for $1. That's a 90% increase
. I don't know about you but I'd be pretty happy with that. I'd be content with that. I know a lot of you are expecting million, that doesn't mean it can't happen but if we're allowed to keep this currency that we have right now with all the zero and they change the exchange rate I'm going to count my blessing and sell them because I'm not going to take the risk of hoping for a higher exchange rate and then turn around and delete the zeros. $37,000 is not too bad for less than a $2,000 investment.