Coffee with MarkZ, MiltiaMan, and the joined by Andy Schectman. 01/03/2024
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
Coffee with MarkZ, MiltiaMan, and the joined by Andy Schectman. 01/03/2024
Member: Good morning Mark, mods and patriots
Member: It is a great day to be alive. Rejoice and be glad in it.
MZ: Here is the illustrious MilitiaMan…Welcome. About the de-dollarization on the 1st and 2nd …many did not see it….but are still hopeful…Iraq still says they are moving forward. What are you hearing?
MM: The first thing I looked at this morning was the IMF report that came out yesterday. It says they have low inflation, good employment, the outlook looks good. There was some negatives since OPEC is cutting oil….but, the non-oil revenues should kick in …taxes, tariffs, agriculture and tourism is big. And of course the development road project. Once they start building millions of houses in 10 cities….I am sure the WTO wants to have their hand in that.
MM: An article came out yesterday saying Iraq had been given the green light for International Institutions to invest in Iraq. My opinion on that is they are going to accept the obligations for article 8 compliance. Which means they are going to adjust their exchange rate.
MM: They talk about the exchange rate in the IMF document today. A brief snippet about increasing the exchange rate and purchasing power…... You all may want to go read it. I think this report was a good indicator.
MM: Yesterday the PM (Sudani) was talking about the existence of financial reform and stability. They are going to switch to an electronic system in the government itself, and within 6 months they will no longer use cash for payments.
MM: Today we have the retirees supposed to be paid. They will have to do their banking with ATM cards …This should tell us if the operational side of the budget for 2023 is exposed. We need to see how they pay all the contracts and tenders for the year 2023.
MM: I do not think they can afford to pay for all those houses and businesses and roads with an exchange rate of 1310. I don’t think there is enough dinar in the world to do all of that .
MZ: I agree with you. There is no future for them without an improved exchange rate
Member: . Militia Man & Crew - so what happens with all the 2023 Budget that Iraq didn't spend??? Can they double up and spend it in 2024?
MM: I think they have already spent it and have not shown us yet
MZ: That’s what I think …maybe all the checks just havn’t cleared yet.
MM: In an article the budget has 7.6 billion in surplus which tells us they are not telling the whole truth. But the government granted the authority to continue spending the 2023 budget and the spending can continue with the 2024 budget. That is what we are seeing in the news today.
Member: What happens to dinar holders if Iraq goes cashless?
MZ: They are not trying to remove all cash. They are trying to streamline government to not use cash to stop corruption.
MM: There is going to be a need for new small category notes (lower denominations) and a need for coins or fils….They will have those. It will be no different than here. Many people do not carry cash anymore……but many do….just less.
MZ: If all the cash is removed from government payments ext….removes this historic problem of corruption.
Member: What happens if they just print new notes and the dinar we hold are not good anymore?
MZ: That will never be accepted in the international world. You would have to have a closed economy to do that…..like N. Korea. You cannot do that to the international world though.
MM: We can clearly see the people behind this – the WTO, The IMF, The world Bank….the BIS , the Federal Reserve bank….The US, Canada, The UK…all kinds of countries hold dinar in their foreign reserves. Iraq cannot just say…”Sorry guys- we aren’t paying you” That is not going to happen. We are talking trillions. Look at the US- The US embassy in Iraq is one of the biggest in the world. One of our presidents said we are going to get paid back for this.
MM: They are planning big things over the next few months and need an exchange rate to match. Sudani has been moving on steroids to get this done.
MZ: And with the government forcing the use of dinar only from now on….they need to have a higher value….or these people who have the green light to come in and start building are not coming……
MM: If they have a REER (Real Effective Exchange Rate) based on true values….from oil, natural gas, borders, tourism, taxes and tariffs……..it’s going to be phenomenal…and that is what they are working on. I think everyone should be excited as we are watching it unfold.
MM: We should all have confidence that what we are invested in is coming to fruition. That is my belief….everything is very positive.
MZ: I am being told from my folks on the street over there to watch in the coming days or weeks for the rate of dinar on the prices of goods to change. To me this signals there is going to be a substantial change. And they told us they are going to implement their economic reforms in the month of January. And the exchange rate is a key issue in those.
MM: Iraq is moving to a digital era and there is going to be a major announcement with respect to that- from the Prime Minister’s advisor…..this was 6-7 days ago. And all the banks will be working this weekend….I think that is interesting.
MZ: Are you feeling very confident right now?
MM: Oh yes……If they were given the green light for the international community to come in and trade….they are going to have to have article 8 compliance at some point. The expectation on the ground….is for more purchasing power and the dinar is going to be stronger than the dollar soon.
MZ: And they built a mechanism in the 3 year budget for a value change….
MM: and this budget is for 2023, 2024, and 2025.
MZ: Thank you MilitiaMan……Its always great hearing from you.
Mod: THANK YOU, MILITIA MAN, YOUR TIME WITH US IS APPRECIATED!!
PLEASE FOLLOW AND SUBSCRIBE TO MILITIA MAN & CREW: https://www.youtube.com/@MilitiaManCrew ALSO FOUND ON Patreon community that is CONTENT DEEP at https://www.patreon.com/mmandcrew
Member: Went to my bank yesterday. Asked my banker if he had new currency for me. He smiled and said “not yet”.
Barclays bank here in london Uk are up to speed with the RV – woohoo
Member: Chase bank told me Monday that they are exchanging dinar now and I have a phone appointment today at 9:30 to find out the rate
Member: I wonder-Are they waiting on the US to announce the new gold backed US Note first???
Member: Who is Mr C and what is his official title and why does he get “codes” and what are the “codes”. What happens when he puts in the “codes”? PLEASE answer these questions
MZ: Just watch this video and listen to Mr. C tell you all about it https://www.youtube.com/watch?v=jBCd_0prXj8
Member: Thanks Mark, MM, and Andy….Everyone have a great day
Andy Schectman from Miles Franklin joins today. Please listen to the replay for his information and opinions….
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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.