MarkZ and MilitiaMan Thursday Morning Chat "Watch the Signs" 4-13-2023
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Thursday 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 Thursday Morning……may you all be blessed.
Member: Wow here we are in a blink of an eye it is Thursday already!
MZ: Today MilitiaMan is joining us with the latest from Iraq.
MM: Good morning everyone
Member: Good morning, Militia Man!
MZ: Hey MM- Have you had a chance to read this one yet? “ Bank Governor: Iraq is on the alert to adjust the exchange rate of the dinar”
MM: I have and it looks to me that they are gearing up for an exchange rate change.
MZ: We were talking with Nader last night on just what they are showing on their televisions. And about having the Iraqi people prepare for sudden price changes. And the need for people to change the prices in the markets to reflect rates…And then we get this article. And you gave us some really good stuff yesterday on what happened in DC…….some may not have seen this yet though. I am going to be quiet while you speak.
MM: Thank you. Yesterday was a big day. I don’t think many realized that Ali Alaq- The governor of the Central Bank of Iraq was in Washington yesterday. Along with Taif Sami- The finance minister was also in Washington. We did not have a clue that they were meeting with the World Bank and the US Treasury and the IMF yesterday.
MM Obviously those entities…all in one room ….around the table working on what is said to be the achievement of exchange rate stability is huge. It is not surprising that CBI governor Ali Alaq comes out with this article you are talking about.
MM: So being on TV and in the news and hearing about the re-pricing….it is obvious some changes are coming.
MM: What I think is fascinating as well is Brian Nelson with the Treasury was with Alaq and the photos of them look pretty cozy. And to me the smiles on their faces tells me something big went down.
MM: Another thing I thought was fascinating was Halabousi – who is the President of Parliament……took his vacation about the same time our US congress and Senate went on their recess. And what had been on the table before they left was the repeal law on the war in Iraq. They had voted to repeal that but now there is a final vote. …I believe in the House….and they show back up to work on Monday.
MM: Halabousi was supposed to be back to work on the 18th….which is Tuesday….but, he may possibly be back today or Saturday instead. Why is that important? The 2023, 2024 and 2025 budget is on the table. And it is supposed to be a different type of budget for the country of Iraq …..It’s not just an operational budget but also an investment budget.
MM: So when we see things like price re-pricing….that tells us they are going to be doing something in the near future to support and stabilize a new, fresh , acceptable, article 8 compliant with the IMF, international exchange rate.
MM: And with that said, it’s not an oddity that Halabuosi came back early and at this time.
MM: A big thing we havn’t talked about is the BUNA platform. It’s a big thing….a electronic trading platform for around the world. AMF (Arab Monetary Fund) owns it and Ali Alaq was part of the AMF before this. A few years ago JP Morgan/Chase got a contract to clear the US Dollar through the BUNA platform. They also cleared the dinar.
MM: So today, we see that they cleared the dinar with the Jordanian currency on the BUNA platform. Articles are out on that today.
MM: So the re-pricing, the BUNA platform with Iraq and Jordan, also Egypt and others will be trading partners…and this is all been happening. And it is no coincidence.
MM: Iraq had been trading oil with dollars through the Federal Reserve. There is now an oil and gas agreement with Kurdistan to ship oil to Turkey through the Hydrocarbon law (HCL) which is also being hammered out in the budget….This brings us back to why Halabousi is now back early
MM: There will probably be a vote with the US congress on the Repeal act and a vote on the budget in Iraq……It’s almost like they were waiting to do all this at the same time. We will see how that goes.
MM: People are now talking about how there may already have been some deals cut and action taken with the Paris Club agreement. (long ago Iraq made a deal with a group of foreign countries called the Paris Club) If that is the case ….and the Iraqi citizens are being taken care of with money allocated to them…..it appears all things are coming to a head.
MM: With the news this morning it looks like Iraq is ready to go. In a nutshell with all these delegations meeting in Washington….things are getting exciting.
MZ: Absolutely…I think we are about to get that little piece daily –just like this morning- and yesterday with the meetings in DC…..and today the news from the CBI governor and on the news telling the people about price changes…..they are beating us in the head with all the news right now.
MM: It is absolutely fascinating how things are coming together. I would not be surprised to see from now on big things popping up…..every day. It has to be close….something is up
MZ: Follow the fundamentals …The dinar had value….It was devalued…..it will get the value back.
MM: The Real Effective Exchange rate (REER) is not 1310. If they are to go international and article 8 compliant at 1166, 1190, or so….they would have already done it…..Being International and article 8 compliant means they will be trading live on the forex…..they have not done that yet…and they won’t do that time is right. And that is going to be when they think the time is right…..With their meetings in Washing DC….and everything in the news….on the streets and in the market places….obviously things have gotten serious and really exciting.
MZ: You make an excellent point. If they were not going to change the value appreciably …they would have reprinted bills a long time ago that did not have the zeros on it. They would have already done that if they did not intend to revalue or reinstate their currency value.
MZ: Most of my contacts on the street including contractors…are looking for it to be a re-instatement …which to me is awesome. With inflation that should put the rate over $4 bucks? Can you guess what you believe the rate could be? Or timing?
MM: I got into this over 13 years ago. The IMF had put out a report that was over 198 pages long I stumbled on the number of $3.28 cents… and I said WOW. That is where I expect the re-instatement to be. Somewhere around that. If there is a way they can add inflation pricing to it then you estimate would not be far-fetched. .
Member: Even just the $3.28 per dinar makes me happy. I was expecting a 1-1 exchange. So knowing it will be that much is... I want to cry in joy.
MM: If we look at some of the deals done through the Arab Monetary Fund (AMF) one of them was with Tunisia…..what they did to expose the exchange rate to the AMF currencies connected to the Specials Drawing Rights (SDR’s) of the IMF (International Monetary Fund) Who by the way were ein those Washington DC meetings yesterday……..they rate can go up to 3 times the value of the SDR. That is what the currencies in the AMF can trade at.
MM: They do not publish a lot of the values of their currencies because they do not want the arbitrage trading that for them and creating volatility. So they keep it pretty hush-hush. But you can figure it out based on loans they gave out based on dollars. Interestingly enough. ….around 2016 or so…..the Iraq rate was trading at approximately $4.25. That’s what the loans were.
MM: Alaq, at one time was doing an interview in 2018 or 2019. (Sidebar: When Alaq left the AMF to become Governor of the CBI- he was given 90 days to get this job done….and the 90 days are almost up) anyway, but in this interview he talked about loans. Good loans and bad loans….and what he did give as a “bad loan” was a number …and by calculating that number ….you can extract a rate of almost $6.00 exchange rate. . So these “Bad Loans” were effectively at a rate of $6
MM: Whether that was the case of not back then….it will be the case in the future….his words-not mine. But, those were the values. I put that out there back then and nobody really argued with me over that particular instance…..but, Iraq will soon be awash in value.
MM: We all know Iraqis the 5th largest oil producer, and they have massive amounts of sulpher, minerals, gold and tourism….and they have the new electronic systems for taxes and tarrifs at the borders .
MZ: Don’t forget massive amounts of natural gas that Europe, Germany and others desperately need right now.
MM: In the past they were basing their values off of oil….at least 95 percent of it. Now that is changing because the gas and other resources plus the income from taxes and tariffs at the border …plus they have increased their foreign reserves to over $115 billion is what they have said….and increased their gold holdings to 132 tons of gold……...so, obviously they have plenty of money and income streams to support and defend their currency.
MM: And, I believe that is what the US is talking about in DC is defending this currency …and all the centrals banks in the Arab regions with the AMF will work as a team to make sure the buying and seling of their currency is stabilized.
MM: And the US Treasury and the Fed have the new system which is the ISO20022 will be a component and how they will clear with the BUNA platform. Change is coming.
MM: When they implement this 3 year budget in Iraq it will stabilize the pricing and keep it stable. Goes along with the re-pricing you and Nader are talking about. The investors want that guarantee.
MM: All currencies need to be stable and proven and I think that is where we are right now.
MZ: When Iraq is talking about the “Parallel” that they need –of value….we need to feel confident that the value is accurate. And this is why they are doing all the steps they are doing. If people don not trust that 1132 value…how are they going to trust a $4 or $5 dollar value??? So this is part of the mechanisms they have been implementing right before our faces.
MM: They have to have trust and faith, and at this stage of the game – I believe they mean business…and they know it. The citizens realize that a change is coming. With all the revenue streams Iraq now has…they will feel confident in it. The growth is going to be amazing.
MZ: And Iraq is going to be a regional powerhouse.
MZ: I may be totally wrong but I believe with everything going on that next week is going to be our week.
MM: I have to say that I am watching for next week…or anytime really….we will not know the exact date….just educated guesses…and we can see all the signs are ethere….….Iraq has to do something for us to do something and hopefully we will see that in the next few days through next week.
MZ: Nader had a good point yesterday. He said if Iraq is telling you “next Thursday” they are completing something….this means they have already done it. But the timing is above our pay grade……..but all signs are pointing to anytime.
MM: The signs all point to we are in a good place. Everybody should be excited and anticipating for sure. .
MM: Another sign that you touch on is gold prices today are at $2050 bucks…that’s a sign. I once spoke with Herman Cain (Former Presidential candidate and much more-go to wikipedia) ….who passed from covid but he was in some of the circles I am in and was involved with the Iraqi dinar …. He said that once the dinar goes…buy gold immediately…..
Member: Thank you Mark and MilitiaMan….Very good info. now I see why this has taken so long.
Member: Thank You Militia Man for your work, We appreciate you!
Member: I am so grateful for the journey and all that @theoriginalmarkz , Militiaman, Nader and so many, do to keep us informed!
Member: Getting excited (measured). It just feels different this time! Praying in our abundance in health, wealth and joy each day.
Note from PDK: Please listen to the replay with MilitiaMan for all the details and entire stream…There is way to much to transcribe it all………thanks
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