Economist's "News and Views" Wednesday 3-6-2024

Nigerians Reject CBDC: Can The Central Banks’ Enter Through a Another Door?

Lynette Zang:  3-6-2024

In this video, Lynette Zang delves into the dynamics of transitioning monetary systems, drawing insights from Nigeria's economic landscape. She scrutinizes the failures of conventional approaches to combat inflation and restore trust in currencies.

With a keen focus on the rise of digital currencies and stablecoins, Lynette advocates for prioritizing tangible assets like gold and silver for wealth preservation.

https://www.youtube.com/watch?v=Kmwr-go7b-k

The Greater the Boom, the Greater the Bust: Market Meltdown Inevitable

Commodity Culture:  3-6-2024

Harry Dent believes the dot com crash and the Great Financial Crisis were just a warmup for what is coming in the market, and he thinks that when reality finally hits, the level of wealth destruction will be monstrous.

 Harry discusses how your average retail investor can find shelter from the storm, how he views the future of gold and silver, the growing move away from the U.S. dollar, and much more.

00:00 Introduction

 01:23 Can We Have a Recession AND a Bull Market?

11:18 Strategy for Retail Investors

15:33 Silver and Gold Outlook

 21:22 Emerging Markets

24:44 Japanese Economy and Stock Market

27:39 Paying Attention to Cycles

31:24 Move Away From US Dollar

36:02 Could Gold Return as Money?

37:37 A Bitcoin Standard

https://www.youtube.com/watch?v=gwvINLfHDRY

The Bank Crisis Begins In One Week…

Atlantis Report:  3-6-2024

The average American is often oblivious of things to come in the financial sphere until they’re right there knocking at the door. But you can’t afford to be caught unawares this time– the Banking crisis begins in one week.

https://www.youtube.com/watch?v=W5emYNW6Zzc

More News, Rumors and Opinions Wednesday PM 3-6-2024

TNT:

Tishwash:  why is he meeting with Bush? hmmmmm

The Prime Minister of the Kurdistan Regional Government meets former US President George Bush

As part of his visit to the United States, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met on Tuesday, March 5, 2024, with former US President George W. Bush.

During the meeting, the Prime Minister expressed his thanks and appreciation to President Bush for his support for the people of the Kurdistan Region and Iraq, as well as the liberation of Iraq from the dictatorial regime, and his support for the democratic system in the country.

For his part, President Bush sent his special greetings to President Barzani, and also expressed his wishes for contentment and prosperity to the people of Kurdistan and all the citizens of Iraq.    link   

CandyKisses:  As Ramadan approaches. Interior Ministry monitors prices and threatens "traders' greed"

Baghdad Today - Baghdad

Today, Wednesday (March 6, 2024), the Ministry of Interior confirmed the continuation of the campaign to monitor local markets in Baghdad and the rest of the provinces, to prevent price manipulation as the blessed month of Ramadan approaches.

The Ministry's spokesman, Brigadier General Miqdad al-Musawi, told Baghdad Today that "the competent forces in the Ministry of Interior from the Economic Security, in coordination with the control teams in the Ministry of Trade, are continuing a campaign to monitor all local markets for the purpose of controlling prices and preventing any manipulation of those prices."

Al-Musawi pointed out that "the monitoring and follow-up campaign is continuing in all markets in Baghdad and the provinces, and the maximum penalties will be taken against anyone who wants to manipulate prices during these days and during the blessed month of Ramadan, And the campaign is continuing to prevent greedy people from exploiting citizens."

 Observers believe that the greed of traders and price manipulation is "protected" by "influential parties", with no use to control, which are the same parties that control the black dollar market, which exploit the seasons to raise prices and monopolize their import and distribution.

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Tishwash:  Al-Sudani's advisor reveals the main reason for implementing the "Asycoda" system in Iraq

The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed today, Wednesday, the main reason for implementing the “ASYCUDA” system in Iraq.

 Saleh said {to Al-Furat News}, that: “The border crossings in our country have adopted a digital audit and detection system, in addition to the adoption of customs points to completely cover the country’s annual imports with these digital systems and procedures, including the adoption of the global “Asycoda” system, which is currently applied to more than a hundred customs fences around the world. ".

He added, "Its importance comes from controlling the country's air, land, and sea ports (border and customs), to which imports of various goods and merchandise flow, whose annual value amounts to nearly 60 billion dollars on average."
Saleh added, "It is dominated by imports from the private or private sector, at a rate of more than 65%." link

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   [Colorado Bank Story]   I called my bank [Well Fargo] and had a conversation with someone over the phone and they treated me like I just came out of a cave - 'No.  There's no way.  No we don't handle [dinar].'  All that negative talk that everybody's getting.  Then today I asked to speak to the bank manager for other purposes but while I have you on the phone, lets [try again].  He [says] yes I'm very aware.

Militia Man  Article quote:  "Accession [Into WTO] is imminent"...What are they waiting for? ...Iraq's going to have to make a decision on their real effective exchange rate.  That's my view...You can't have Iraq having imminent accession to the international markets through the World Trade Organization without having a Real Effective Exchange Rate.  Most of us believe 1310 is not a real effective exchange rate.

Limit, withdraw from bank

Nader:  3-6-2024

https://www.youtube.com/watch?v=e1IDyfrzFdE

LIVE! Empowering The FED. MUST End! Or WE ARE ALL DONE. BUT NO ONE HAS THE GUTS TO DO IT.

Greg Mannarino:  3-6-2024

https://www.youtube.com/watch?v=5ib_lIZykKY

KTFA Members "Forex Thoughts and Opinions" Wednesday 3-6-2024

KTFA:

Dano2668:  IQD/USD? We are holding IQD, not converting to IQD. Should the chart not show this? around “.36” when you first open the chart to change the currencies it shows “Euro/USD”, wouldn’t we keep them in the same order and simply change the “EURO” for “IQD”?
…trying to understand what I’m looking at. .36 is still better than .0008 but ?   Thank you for the clarification when you have a moment.

DeepWoodz:    From Investopedia…

”A widely traded currency pair is the euro against the U.S. dollar or shown as EUR/USD. In fact, it is the most liquid currency pair in the world because it is the most heavily traded.1 The quotation EUR/USD = 1.2500 means that one euro is exchanged for 1.2500 U.S. dollars. In this case, EUR is the base currency and USD is the quote currency (counter currency). This means that 1 euro can be exchanged for 1.25 U.S. dollars.”

From forex.com…

“Currency pairs are also known as forex pairs. If you buy a currency pair, you’re buying the base currency and selling the quote currency. The bid (buy price) represents how much of the quote currency you need to buy one unit of the base currency. If you sell the currency pair, you’re selling the base currency and buying the quote currency.”

So currently,(according to forexlive) yes you can buy one dollar for 2.78 dinar. So currently, yes the exchange rate we are looking at is round about $0.35.

Frank made a comment that makes sense. Perhaps they are waiting for supply and demand to bring the rate up equal to or greater than a dollar before releasing it to the citizens. Or perhaps they can change the rate at will. I don’t know. Perhaps they are watching some metrics to ensure the dinars ability to maintain its value on its own. 

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Harlequinc3:  Deepwoodz, you are correct. 

Think of / as meaning ‘into.’ So IQD ‘into’ USD is what we want to do here. So IQD/USD. 

Then you have to remember reading left to right means ‘multiply’ and reading right to left means ‘divide.’ Think of the / like a fraction.

So to go from IQD ‘into’ USD — IQD/USD — that number is .36. Since you’re reading left to right (IQD into USD) you multiply the .36 by the base (say, $100) which is $36. If you had $100 of dinar it would be worth $36. 1 dinar is worth $.36. 

If you wanted to convert USD into IQD, you’re now reading right to left (divide) — $100/.36 = 277.78 IQD. Meaning, if you had $100 and travelled to Iraq, they would give you 277.78 dinar. 

Another way to think of that is to say it takes 2.77 dinar to equal $1. 

Let's see something. The CBOE is a futures options board -- it's not an exchange rate, it's an options contract based on a future date. It's taking bid/ask prices on the dinar "sometime in the future" (which is anywhere from 1 day to 6 months.) If we knew the date of that contract closing, we'd be able to say, okay, the rate will be XYZ on THAT date. Now, this lends itself to Frank's "second set of books" and a managed float of the dinar. The CBI would know the rate at any specific point in time and use the "sterilized" auctions accordingly.

Notice Toronto SX showing .345 and CBOE is 2.92. As 2.92 goes up, .345 goes down. Therefore, doesn't that imply 2.92 is NOT an exchange rate, but an actual dollar amount and the .345 is the currency pairing's exchange rate? So, IF that .345 were to drop to .31 -- that would make 3.22 the other way. Again, that's NOT the actual rate, I think it's showing the value of the dinar on futures options.

Gotta say, I think this is proof of what Frank's been talking about. Can't be a coincidence this skyrocketing started at 1.31 back in December. What a coincidence.

I'm open to anyone's thoughts on this.

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Dano2668:  Here's what I found

"What is a Currency Pair?
A currency pair is a unit of measurement in foreign exchange trading. It represents the exchange rate between two currencies. It is always quoted in two parts, with the first currency being the base currency and the second currency being the quote currency.

in the EUR/USD currency pair, EUR is the base currency and USD is the quote currency. This means that you are buying one euro for a certain amount of US dollars. The exchange rate for a currency pair is fluctuating, based on supply and demand in the market.

Now, the tricky thing about Forex can be understanding the order that the pairs are listed in. For instance, there are a host of pairs that the USD is the second currency listed (for example, EUR/USD, GBP/USD, AUD/USD), but there are also many pairs that the USD is the first currency listed (for example, USD/CAD, USD/CHF, USD/JPY).

if you buy a pair, you are buying the Base (first currency listed) and selling the quote (second currency listed), so Buying the EUR/USD means that you are buying Euros and Selling U.S. Dollars–this is the same thing as going to the Exchange and “selling” U.S. Dollars for Euros because you are buying Euros against U.S. Dollars.

So..... "USD" would be listed first! Watch market

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USMCCret22:  Loving the clarity. Thanks to all who provide info. The Great thing is that we can see a chart to see how things are moving.

Rubberman:  I would like to make an observation regarding the Forex Live thread. I got a little pumped when I read about it so I had to see it for myself. When I opened the chart I changed the default setting to USDIQD (no forward slash). This brings up the equities trading chart. It shows $1 =1309 IQD. It also shows NO volume for trading for as far back as I went.

It shows when the rate went from 1460 to 1310 on 3/21/23. It even shows when it went from 1190 to 1460 back on 12/21/21. The header of the chart is [US DOLLAR / IRAQI DINAR . 1D . ICE]. ICE is the Equities trading.

Now when I changed the header to USD/IQD, I see what all of the fuss is about. However, Lets note the header details: [US DOLLAR / IRAQI DINAR . 1D . CBOE ONE]. CBOE is the Chicago Board Options Exchange. So we are now all looking at the options trading for the IQD.

This chart is interesting as it tells us a lot about what the big boys know.

1. Options trading started on 7/22/2016 at $0.20 
2. There are several jumps and dips since inception and I believe if we could date these to the news (good and not so good) we could follow the charts to our intel.
3. The last jump started on 11/1/23 at $1.11 and until today where it's at $2.88.

What I get from this latest jump is the frenzy (caused by the CBOE members (they're excited)) that may carry over to the equity trading when Iraq goes international. As well as these members know or believe this will come out over $2.88. This also shows us how volatile the Forex may be in the beginning. Looks as if the Wales and sharks got to dinner early. They've been making profit on this since 2016.

Regarding the math, .36 dinar to the dollar is the inverse of 2.78 dollars per dinar. So it takes .36 dinar to buy 1 dollar. If you are to buy dollars.     R'man

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Clare:  The Central Bank sets the ceiling for cash withdrawals for bank cards outside Iraq

3/6/2024 Follow-ups|..

The Central Bank of Iraq has set the ceiling for monthly and daily cash withdrawals for bank cards outside Iraq.

The Central Bank said in a document, a copy of which was obtained by Jarida, that the ceiling for cash withdrawals outside Iraq is $3,000 or its equivalent in other currencies, and the ceiling for daily cash withdrawals outside Iraq is $500 or its equivalent in other currencies.  LINK

Calandddlq:  IMO, 3K in IQD at $1310, that’s less than $3.00, but at 1:1 that would be more in line with the ceiling placed on card holders of other international currencies.

Currency Insider Iraqi Dinar - Dong Updates Wednesday Afternoon 3-6-24

Currency Insider Iraqi Dinar - Dong Updates Wednesday Afternoon 3-6-24

Iraqi dinar trade bank of Iraq Bank Of Iraq big announcement – 1:53

Vietnam Dong latest rate today some positive news – 1:19

 Iraqi dinar trade bank of Iraq Bank Of Iraq big announcement – 1:53

https://www.youtube.com/watch?v=TpisM8gLb2A

Vietnam Dong latest rate today some positive news – 1:19

https://www.youtube.com/watch?v=3_9kH8KOkTw

Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24

Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24

Transcribed By WiserNow Emailed To Recaps

Welcome, everybody the big call tonight. It is Tuesday, March 5th and you're listening to the big call. Thanks for tuning in everybody all around the globe. And one of your hosts is kind of getting it together. And the rest are ready to go. So, without further ado, welcome - thank you for tuning into the big call. We're looking forward to starting the call like we do every call by opening up with prayer. And then we go to a teaching which Sue has created for us, which will be great for us all. And then we take off and go on to other topics on the call

All right. Anything else Bob last minute. Okay, Bob, thank you so much. Okay, we're right on time, guys. Moving right on through. Let me tell you where we stand on our intel. We got some cool information today. And let me tell you what it is.

Well, let me just say this there was a mini sting operation last Wednesday, Thursday and Friday.

And I say that because bankers were told on a conference call last Wednesday that there were not to be any early exchanges. No early exchanges for certain all these banks. And I think some tried to jump the line.

And they were caught for doing that and they cleaned up. Basically, some of the banks that needed to be cleaned up at redemption centers and banks, and they took care of that.

Then they moved on to Okay, where do we stand now? As far as our start,

We got some information yesterday, well, actually, day before yesterday, which would have been what, Monday – no check that - Sunday, that we were looking to get the numbers to come out and get a green light from the Treasury. Either in an email this morning between 10 and 11 - Yesterday rather, yesterday, or between 10 and 11 today (Tuesday)

Well, we didn't get green light yesterday. So we kind of wrote that off As far as a start date. And then today, We didn't see an email between 10 and 11 - and we're talking about to the redemption centers. Let me clarify that - redemption centers were looking to get that - And so what they ended up with was we did get an email, and about 20 to 3  (2:40) Eastern time this afternoon.

And that was indicating that we were within 24 hours within 24 hours of being notified and getting green light from Treasury to trigger our notifications and set our appointments. When we think they'll come tomorrow. We should set our appointments. if it's early enough if we get the 800 numbers early enough in the day we quite possibly could exchange tomorrow afternoon, evening.

If we get the notification later in the day, we could set appointments and begin an exchanges on Thursday.

So either way it's a win, but we're looking very, very good for this going tomorrow. That's the information that I'm getting from and we had it confirmed from two separate unrelated redemption centers at the same information

Now - I feel really good about where we stand right now with that. We know that the dinar and the other currencies have been coming in on the forex and trading upward in the bank screens reflect that.

They reflect the fact that the currencies are trading up and still blinking -  on the screen, which means they're not set. They're not stable, but they're continually moving upward in value. And they're blinking.

So what I think is people say well, why isn't ready to go They said it's already They say we're good to go. What are we waiting on? I think they're just waiting for the currencies to hit the values that they want them to hit before we get started. And it would appear that they are moving in that direction .

So you know, you're going to be rewarded for your patience you'll be rewarded for using the redemption centers to redeem your Zim and exchange your currencies. And I believe that if the information holds true, we should get our notifications  tomorrow. So I'm excited about that.

And, you know, all I can say is that we waited a long time for this to manifest and hopefully we won't be disappointed it will be rewarded for our patience tomorrow. So I'm excited about where we are, where we're going with this. And I really think that we're in really good shape right now.

Now let's see what else I can say about this. Now, I know I probably had some other things I wanted to mention - but realistically, this is the main thing that we're all interested in- is going

When it comes to R&R - restitution and reclamation allowance - That is supposed to kick in about a week after the USN – USTN  is released - and the latest dates we had on that were supposed to be between the 14th and 15th of March. That’s not  to far away and also understand that that is supposed to occur when the redemption centers are about to close - or are closing -  well for them to close they need to be open.

They need to be open not only exchanging our currencies but also redeeming our Zim – they are most concerned about the redemption of our zim in the redemption centers although we will do both. Obviously all currencies will be exchanged and all bonds will be exchanged, if you will or redeemed will be redeemed and our zim  will be redeemed. But they will move very quickly to set up appointments for all zim holders.

Now there's one other piece that I think I should bring up about that I was just reminded of and that is if you let's say the numbers were to come out tomorrow, and you set your appointment within four or five days of the numbers coming out then you would be able to exchange up to 20 t0 25 days later access things later.

 In other words, if people are in the hospital and need time to get healed and come out if they happen to be on a cruise, or on something where they're just not able to come in – they’re out of the country, whatever it is not able to come in this week, let's say - but if they are able to set her appointments, they could set their appointments for a day 20 or 25 days into the future.

All right, so that's new today. I just got that today.

Most important thing though, is to with your toll free number, go ahead call the call center and be connected to if you're Zim holder to the redemption center in your zip code that you indicate when you make your call. And basically you should be talking with someone redemption center that will quite possibly be helping you do your exchange in your Zim redemption, Whenever that appointment is set. So I know that redemption people are ready. We're ready.

Banks are ready in the sense that they're going to be doing currencies and not doing zin – at least not here in the US. Wells Fargo is the lead bank HSBC is the secondary bank because they're handling everything globally. And then Chase would be in 3rd  position.

And why is Chase in number one position right now?  Because of the 11 banks that they have in Iraq. And because of the fact they'll have 15 banks in Iraq by the end of this week.

So that's pretty cool they’re in position, but obviously Wells  with the Zim will supersede them into the number one position and HSBC will take the number two position because of all the international exchanges that they will do and they will do them internationally.

And I believe Banco Santander Santander in Latin America will also be able to do zim in Central and South America and possibly Mexico as well. But I know that HSBC is also a large international bank that will be handling everything in their locations.

 So – I’ll say this Med Beds are just around the corner – they’re not far – we will let them know if we need a Med  Bed or in dire need of it -

We will let them know if we get better we are in dire need at the moment the redemption center when we make or when we go in for our for our appointment, and then they'll be able to get that information entered on the computer and we will be looking good. We're going in fairly shortly after our appointments maybe a week or so we should be able to start going into those appointments after we exchange. So that's what I wanted to say with you guys tonight.

It could be that we get our  notifications  around lunchtime tomorrow - Around noon little after. we'll see what happens that’s kinda what is anticipated based on emails,  - maybe the emails come in to the redemption centers tomorrow between 10 & 11 We should be in good shape to get notified around lunchtime. Alright, and we'll take it from there.  And let's just look forward to this.

I'm ready for it as all of you are. And let's just look forward to a real beautiful thing happening here for us.This is going to be an incredible blessing. Alright, so I'm not going to go in anything else right now, let’s just move it, and let's just go ahead and pray to call out,

Bruce’s Big Call Dinar Intel Tuesday Night 3-5-24   REPLAY LINK   Intel Begins   1:04:40

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 Bruce’s Big Call Dinar Intel Thursday Night 2-22-24   REPLAY LINK   Intel Begins  1:07:37

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Bruce’s Big Call Dinar Intel Tuesday Night 2-27-24   REPLAY LINK   Intel Begins   1:21:31

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Bruce’s Big Call Dinar Intel Thursday Night 2-22-24   REPLAY LINK   Intel Begins  1:05:45

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Bruce’s Big Call Dinar Intel Tuesday Night 2-13-24   REPLAY LINK   Intel Begins   1:02:30

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Bruce’s Big Call Dinar Intel Thursday Night 2-15-24   REPLAY LINK   Intel Begins  1:29:29

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Bruce’s Big Call Dinar Intel Tuesday Night 2-13-24   REPLAY LINK   Intel Begins   1:05:25

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Bruce’s Big Call Dinar Intel Thursday Night 2-8-24   REPLAY LINK   Intel Begins  1:10:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHdbI 

Bruce’s Big Call Dinar Intel Tuesday Night 2-6-24   REPLAY LINK   Intel Begins   1:03:30

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Bruce’s Big Call Dinar Intel Thursday Night 1-25-24   REPLAY LINK   Intel Begins  1:04:40

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Bruce’s Big Call Dinar Intel Tuesday Night 1-30-24   REPLAY LINK   Intel Begins   1:07:37

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Coffee with MarkZ and Andy Schectman. 03/06/2024

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 and Andy Schectman. 03/06/2024

Member: GM MarkZ & Mods & Family

Member: Anticipation fatigue is real…..and I have it bad

Member:  Any thing positive going on? Markets a hot mess.

Member: Is the chatter still good that we may see something today or tomorrow?

MZ: I feel confident we are extremely close…Maybe today or tomorrow….I’ll take either…..or whenever we get it. I am afraid to let myself get to excited.

MZ: MilitiaMan had a great recap on the dinar last night.  Around the 14 minute mark he mentions that JP Morgan (Jaime Dimon) made a statement that “Iraq will be the savior of the world economy”  I.   That tells you the importance of what is going on in Iraq right now.   Be sure to go listen to MM and like and share his videos.

MZ: There is a tremendous amount of effort and hope around this event.

Member:  I asked my bank in Hawaii if they were basil 3 compliant and I got a call back that they are not required to be compliance. bigger Banks like Chase and other International Banks have to meet it

Member: Does Mr. C entering the codes have anything to do with the RV??

Menber: He is one of the signatories that bring in the gold backed currency for the US…..

Member: I'm hearing when the Market drops 3 more times...It will trigger the crash and everything will follow.. Yesterday it dropped really Low...

Member: Mark did you hear anything about the rumor that the banks in the Federal reserve is not going to give out any more money after March 11th?

MZ: It means the Federal Reserve ends their short term loans they put in place when some banks were going under. (Signature Bank, SVC Bank ecct..) So the safty net for smaller banks ends on March 11. .

Member: Yes. Doesn’t it mean the treasury loans or bailout to banks end on March 11th?

Member: I wonder when the US dollar is revalued, will the value of gold be correspondingly be lowered in value?

Member: I wonder what are the chances NO IRS TAXES due April 15th?

Member: If there are any white hats….One would think they do not want us to pay billions in taxes that go straight to the bad guys cabal to re-hypothicate the evil ones……So if you are listening White hats……get this done before we have to pay those taxes in a month.

Member: What is “double dipping”

MZ: If you exchange some currency …then go buy a bunch more to exchange….that is double dipping.

Member: That’s why it makes sense to it all at the same time….and let us exchange once.

Member: this roller coaster should be coming to an end soon!!

Member:  March 6th, 2024:  God is saying to you today,"You are going to receive that miracle You've been praying for.  Only I can do the impossible, I can make a way where there seems to be no way.

Member: Thank you Mark Z! You’re the calming voice of sanity in this insane world.

Member: Happy Birthday to all celebrating today. God bless you all.

Andy Shehctman from Miles Franklin joins the stream today…Please listen to the replay for his opinions and information.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

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MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram

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.

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Zig’s Place Chatroom Discussion Late Tuesday Evening 3-5-24

Zig’s Place Chatroom Discussion Late Tuesday Evening 3-5-24

Sheila   THOUGHT THIS MIGHT BE OF INTEREST FOR YOU TO CHECK OUT AND VERIFY: VIDEO: FOREXLIVE.COM -- ForexGirl comes into video about 1 hour into video --- WATCH THE ENTIRE CONVERSATION WITH ForexGirl and Frank26 -- https://www.youtube.com/live/L69tLJTL0ZU?si=0KK0_P9uTOxijeZ6   --- https://www.forexlive.com/LiveCharts  USD/IQD CURRENTLY TRADING @ 2.80  - MARCH 5, 2023

Sheila   gotta get off to work, later all

Zig   Trading at $2.80?...that makes no sense but I will investigate further.. Nothing to corroborate that

butterfly   Zig It would be all over the news. CNBC would stop and report.

Zig   Yeah

Dave  2.80.....CBI fails to mention that?

Dave  do enjoy reading about a lop.......  :wheelbarrel: that would be how monetary policy werks.....,.lol  just checked EU sanction map....IRAQ...UN's updates from yesterday  https://sanctionsmap.eu/#/main

Zig  Dave : I miss your little chats with Kap....lol

Dave  deleting 3 zeros with no increase in value of the IQD when 1 iqd is worth less than 1 tenth of a cent...each 1 dollar note costs 5 cents to mint..would be economic suicide fer CBI

Dave   them fils cost even more to produce - do agree with most everything else Kap states   odd how Baghdad states them Kurds are corrupt and yet Kurds state much of the same.....similiar to them dems vs reps......

Zig  lol....true

Dave   just find me a nickle....i be happy

Zig   Make that 25 cents....lol....not greedy but that's not asking for a fortune....

Dave   1/15th of a cent to a Nickle.....very good profit

NORV   sheila nonsense

Zig   NORV : It is amazing that Frank has thousands of followers of his videos

Zig   Look at this: FRANK26….3-4-24…….FOREXLIVE.COM

24K views Streamed 17 hours ago............................................24,000 views!!!!!!!!   :Thud:

NORV   You can go to that link or any other and enter IQDUSD and you will the dinar valued where it should be.

Zig   That rumor about the Dinar trading at $2.80 on Forex.....LOL    That sucks people in

NORV   I can post the dinar is $3 and everyone would post it as well. Doesn't mean it's true.   Cbi.iq

NORV   people need to realize the dinar will never RV. If it does anything at all, it will rise gradually over time as a result of Iraq's economic growth and success.  And that can't happen until Iraq passes laws and significant investment and growth begins

NORV   IMO, is it's very likely that it could reach a nickel or a dime over the next few years if Iraq quits dragging their feet.  People need to stop reading that BS though from idiots like Frank 26 and others.   What's Dave going to say when Iraq goes fully digital? There'll be no wheelbarrows needed LOL

Zig:  NORV is Kaperoni ...You can still access some of his recent conference calls at https://www.youtube.com/ @TheAdminBob and also follow him at https://twitter.com/kaperoni   

Dave   NORV we have more atms in my small city than all of Iraq -   digital.....here too, i like cash........  what nation is devoid of all cash?

NORV   ATMs are not that important in Iraq they only need to have ATMs if you want physical cash. They are going digital..that mean paperless. Swipe 💳 and go.

Dave   we swipe here also

NORV   Yup      I can't remember the last time I carried dollars.  💰

Dave   POS exclusively?   i deal in cash

NORV  Nah, I do almost everything digital. Buy food, clothes, gas on my phone.  GOOGLE pay works great. 👍

Dave  folks sometimes pay me in cash.....means i dont have to answer to my wife

NORV   The best part is you get better deals buying digital

Dave   doubt it 1/2 of iraqis have bank accounts

NORV   I get .35 cents gal off on gas  😆

Dave   barter with a pos?

NORV   Restaurants love digital purchase. Give great food discounts

Zig   That's point of sale....not piece of shit.....lol.....POS

Dave   not here

NORV   It's everywhere Dave

NORV   .the apps are the same. You just don't know about it.

Dave   wife pays when we go out

 Zig   I like cash too but it's becoming old fashioned.....lol

NORV   Go to the App Store and download an app for whatever you're going to do or restaurant or store and you will notice that every one of them apps have discounts when you pay through their mobile app

Dave   will inform the MRS.

NORV   I just went to Arby's the other day and got a French dip for $3. LOL everyone else pays $8

Zig   Wow

NORV   McDonald's has a whole bunch of discounts when you use their mobile app two for one sandwiches, two for one shakes, free fries Etc

Dave   MacDonalds aint food?

NORV   I just bought baseball tickets the other day for $7 a piece through MLB app. Lol. No chance of that price using paper   ......HOW?

NORV  It takes time Dave

Dave   What nation has done this

NORV   50% in last year is good

Dave   guessing not sure   Dave  was about 1/3rd

NORV   Give them another 2 years, everyone in Iraq will be digital

Dave   too many mattress stuffers   2 yrs?  guessing?

NORV   Once convenience catches on people will convert just like here. Everybody got a smartphone in the matter of about 12 months

Dave    Iraq has accomplished NODDA in terms of anything

NORV   That's not true. They just do everything at a very slow pace

Dave   Banking laws fer foreign investments?     HCL art 140? WTO?    close....lol

NORV   Just because they are not laws enacted does not mean they are doing nothing.

Dave   yadda yadda

NORV   When your rebuilding an entire country from the ground up and you've got tribes that don't want progress, of course it's going to take a long time

Dave   NORV Just checked UNs website IRAQ still be ch7   really slow updating that  banking freeze  updated yesterday

NORV   . I wouldn't know. I haven't been to the UN website in quite a while. Or do you mean IMF?

Dave   https://sanctionsmap.eu/#/main    scroll down to Iraq   Which nation affiliated with IMF while under sanctions?

NORV   NORV don't see anything on UN chapter 7   In fact what I do see is no restrictions   And their financial system is under the IMF and I don't see any restrictions there either except for them still being in Article 14 by choice which is not a restriction.

NORV   It's a decision Iraq's Central Bank has made which does affect their ability to do business with other financial institutions but that technically is not a restriction

Dave   https://www.un.org/securitycouncil/sanctions/information

Dave   page 10   https://www.international.gc.ca/world-monde/international_relations-relations_internationales/sanctions/iraq.aspx?lang=eng

NORV   From the general info page it shows Iraq (2) meaning they must have two outstanding issues still.

Dave   arms embargo asset freeze on banking

NORV   There may very well be arms embargo and there may be assets frozen of individuals within Iraq but there is no restrictions on their banks except for the possibilty of doing business with Iran. IMF Article 14 is their own choice and has nothing to do with UN chapter 7

NORV   If there were investors that wanted to move money into Iraq there would be no problem I can assure you that. The problem is is that they need laws To support Investment otherwise nobody's coming to the party.

NORV   And as long as Iraq continues to struggle to move forward the dinar will remain weak. I've been saying for many years only with the success and growth of Iraq's own economy can the dinar ever go up in value.

NORV   I gotta go. See ya.

Dave    By paragraph 19, the Council decided that the Committee shall identify individuals and entities referred to in paragraph 23, by which the Council decided that funds or other financial assets or economic resources of the previous Government of Iraq or its state bodies, corporations, or agencies, located outside Iraq as of the date of the resolution, or funds or other financial assets or economic resources that have been removed from Iraq, or acquired, by Saddam Hussein or other senior officials of the former Iraqi regime and their immediate family members, including entities owned or controlled, directly or indirectly, by them or by persons acting on their behalf or at their direction, shall freeze, without delay, those funds or other financial assets or economic resources.

butterfly   IMF: Iraq Economic Growth "to Continue amid Fiscal Expansion" An International Monetary Fund (IMF) mission met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation.

Some key data from their report:

1. Economic Growth:

Non-oil GDP growth: 6% in 2023.

Overall growth projected to rebound in 2024.

2. Inflation:

Declined from 7.5% in January 2023 to 4% by year-end.

3. Fiscal Position:

Deficit: 1.3% of GDP in 2023, down from a surplus of 10.8% in 2022.

Projected deficit for 2024: 7.6% of GDP.

Public debt: Expected to nearly double from 44% in 2023 to 86% by 2029.

4. Policy Priorities:

Need for fiscal adjustment to stabilize debt and rebuild buffers.

Focus on reducing current expenditure, increasing non-oil revenues, and improving revenue administration.

5. Monetary Policy:

CBI raised policy interest rates and reserve requirements.

Efforts to reduce excess liquidity and improve monetary policy pass-through.

6. Structural Reforms:

Comprehensive employment strategy needed.

Financial sector reform to improve credit access.

Urgent pension reform required.

Combat corruption and improve governance.

Hurdles to private sector development need to be removed, including in the electricity sector and business registration procedures.

7. IMF Support: The IMF staff team stands ready to support reform efforts.

Full statement from IMF:

butterfly   An International Monetary Fund (IMF) mission, led by Mr. Jean-Guillaume Poulain, met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation. The following statement was issued at the end of the mission:

Economic growth is projected to continue amid fiscal expansion. Meanwhile, medium-term vulnerabilities to oil price volatility have increased significantly. Reducing oil dependence and ensuring fiscal sustainability while protecting critical social and investment spending will require a significant fiscal adjustment, focused on controlling the public wage bill and increasing non-oil tax revenues.

In parallel, higher economic growth will be needed to absorb the rapidly expanding labor force, boost non-oil exports and broaden the tax base. The authorities should therefore seek to enable private sector development, including through labor market reforms, modernization of the financial sector and restructuring of state-owned banks, pension and electricity sector reforms, and continued efforts to improve governance and reduce corruption.

Economic Outlook and Risks

butterfly   Growth in the non-oil sector has rebounded strongly in 2023 while inflation receded. Supported by increases in public expenditure and solid agricultural output, real non-oil GDP is estimated to have grown by 6 percent in 2023 after stalling in 2022.

Headline inflation declined from a high of 7.5 percent in January 2023 to 4 percent by year-end, reflecting lower international food and energy prices, and the impact of the February 2023 currency revaluation. The current account is expected to have recorded a surplus of 2.6 percent of GDP and international reserves increased to US$ 112 billion.

These positive developments were supported by the normalization of trade finance and the stabilization of FX market. After some initial disruptions following the introduction of new anti-money laundering and combating financing of terrorism (AML/CFT) controls on cross-border payments in November 2022, the improved compliance with the new system and the Central Bank of Iraq (CBI)'s initiatives to cut processing time led to a recovery in trade finance in the second half of 2023. This ensured private sector access to foreign exchange at the official rate for imports and travel purposes.

In the meantime, the fiscal position worsened. Although the expansionary budget was under-executed due to delayed Parliamentary approval, the fiscal balance still declined from a surplus of 10.8 percent of GDP in 2022 to a deficit of 1.3 percent in 2023, due to lower oil revenues and an increase in expenditures by 8 percentage points of GDP, of which salaries and pensions contributed 5 percentage points as the authorities started hiring in line with the budget law.

butterfly   Overall growth is projected to rebound in 2024 and risks are tilted downwards amid heightened uncertainty. Non-oil growth momentum will continue in 2024. Larger declines in oil prices or extended OPEC+ cuts could weigh on fiscal and external accounts.

If regional tensions escalate, a disruption of shipping routes or damage to the oil infrastructure could result in oil production losses that could outweigh the potential positive impact of higher oil prices. In case of a deterioration in domestic security conditions, this could lead to a decline in business sentiment and suspension of investment projects. Over the medium term, non-oil growth is projected to stabilize around 2.5 percent given existing hurdles to private sector development.

 Furthermore, vulnerability to oil price declines has increased as higher expenditures are projected to push the fiscal break-even oil price above $90 in 2024. Absent new policy measures, the fiscal deficit is expected to reach 7.6 percent in 2024 and widen further thereafter as oil prices are projected to gradually decline over the medium term. As a consequence, public debt would almost double from 44 percent in 2023 to 86 percent by 2029.

Butterfly    Policy Priorities

An ambitious fiscal adjustment would be required to help stabilize debt in the medium term and rebuild fiscal buffers, while protecting critical capital spending. Most of the fiscal adjustment would have to come from reducing current expenditure, especially controlling the wage bill by limiting mandatory hiring and gradually introducing an attrition rule.

The authorities should also seek to increase non-oil revenues by broadening the personal income tax base and making it more progressive, reviewing the customs tariff structure, and considering new taxes on luxury items. In parallel, efforts to make revenue and customs administration more efficient should continue. Further savings could be obtained through better targeting social support and increasing cost recovery within the electricity sector. These adjustment measures should provide room for the expansion of the targeted social safety net.

The authorities should also strengthen public financial management and limit fiscal risks. The mission welcomes initial steps towards the establishment of a Treasury Single Account (TSA), which is crucial to improve cash management. Further progress is needed and close cooperation between the CBI and Ministry of Finance will be essential.

The next steps are to define TSA design options and complete the bank account census. In future years, overall ceilings on the issuance of guarantees should be specified in the budget law and be enforced. The mission advise against the use of extrabudgetary funds and highlights potential fiscal risks associated with their use.

 As a second best, it would be important to ensure the Iraq Fund for Development has appropriate governance arrangements, including governing board independence while ensuring transparency of the Fund's activities including by publishing its investment plans in the annual budget documentation and restricting its ability to borrow.

butterfly   The mission encourages the authorities to build on the CBI welcomed efforts to reduce excess liquidity. The CBI appropriately raised the policy interest rate and reserve requirements, introduced a 14-day CBI bill facility last summer, and scaled back its subsidized lending to the real estate sector.

However, monetary policy pass-through has been muted, hampered by large excess liquidity and lack of market incentives in financial intermediaries, especially at state-owned banks. The CBI's ongoing efforts should be supported by consolidating idle government deposits in a TSA, refraining from procyclical fiscal policy, reducing the reliance on monetary finance, and improving public debt management.

 In parallel, efforts to develop an interbank market with the help of IMF technical assistance should continue. The mission also welcomes the authorities' steps to speed up the digitalization of the economy, reduce the reliance on cash and enhance financial inclusion.

Wide-ranging structural reforms are needed to foster private sector development and economic diversification. Iraq needs higher and more sustainable non-oil growth to absorb the rapidly growing labor force, increase non-oil exports and government revenue, and reduce the economy's vulnerability to oil price shocks.

 Key reform priorities include:

Adopting a comprehensive employment strategy aimed at phasing-out mandatory hiring in the public sector, leveling the playing field between public and private jobs, addressing mismatches between educational curricula and the skills needed in the private sector, and strengthening labor market institutions. The strategy should also aim at reducing informality and addressing legal, social, and cultural impediments to women's participation in the workforce.

butterfly   Accelerating financial sector reform to improve access to credit. The authorities are committed to modernizing the banking sector and supporting banks' ability to secure correspondent banking relationships and have taken steps towards consolidation of small private banks.

Efforts to restructure the two largest state-owned banks should intensify, including by expediting certification of past financial statements and implementation of core banking systems, and enhancing corporate governance in line with best practices.

Implementing a comprehensive pension reform. This is urgently needed to reduce the overall projected fiscal costs of the public pension scheme, better align the benefits and rules across the public and private schemes, ensure adequacy of pensions and intergenerational equity, and increase the ratio of workers participating in the private pension scheme.

Combating corruption and improving governance, particularly by strengthening the institutional and legal frameworks needed to ensure the independence of the Integrity Commission and the Board of Supreme Audit, enhancing the publication of assets and conflicts of interests declarations for top level officials, and adopting an updated anticorruption strategy.

Further, public procurement and business regulations should also be enhanced. The authorities should also continue to strengthen the AML/CFT framework and its effectiveness, including in the banking sector, guided by the priority actions identified in the MENAFATF Mutual Evaluation that will be concluded in May 2024.

Removing other hurdles to private sector development by reforming the electricity sector to improve efficiency, cost recovery, and reliable access; simplifying procedures for business registration; and upgrading critical infrastructure.

The IMF staff team stands ready to support the authorities in their reform efforts and would like to thank them for constructive and productive discussions during this mission.   (Source: IMF)

Sheila   @TWW You were blessed.  Rumor has it there about 7M dinar/foreign currency holders here in USA. Other rumtel says 10M worldwide.

Sheila   TWW lower numbers than rumtel... various holdings from one 25K dinar note up to what might be considered whale - like they have "pallet"

TWW  sheila we'll have to wait to see how that works out, hummm

Sheila  TWW yes we will. Heard tonight on CC that we should record our Zim serial numbers. Why only Zim, is what I want to know? They didn't give basis for that tidbit.  - from Holly

Sheila   @TWW two hours later here,,, gotta sleep now

Zig  :Hi: Readers....This Chat Room is now a gated community https://my.cbox.ws/ZIGPLACE

:Security: where an invitation is now required in order to participate

Iraqi Dinar Today Video Updates Wednesday AM 3-6-24

Iraqi Dinar Today Video Updates Wednesday AM 3-6-24

IMF And CBI Agreement IQD RV And New Exchange Rate Done – 4:52

Its Great Update New Exchange Rate $5 to $6 USD For Every IQD – 2:52

This is Massive News IQD Beat $3.81 on Trading Screens – 3:35

 IMF And CBI Agreement IQD RV And New Exchange Rate Done – 4:52

https://www.youtube.com/watch?v=CwDqQ3aK22Q

Its Great Update New Exchange Rate $5 to $6 USD For Every IQD – 2:52

https://www.youtube.com/watch?v=GT_s0WKAGzs

This is Massive News IQD Beat $3.81 on Trading Screens – 3:35

https://www.youtube.com/watch?v=fkl-7LxDpjY

Currency Insider Iraqi Dinar - Dong Updates Wednesday AM 3-6-24

Currency Insider Iraqi Dinar - Dong Updates Wednesday AM 3-6-24

Iraqi dinar Revaluation Latest update – 1:51

Finally time pay off Iraqi dinar latest news – 2:45

 Iraqi dinar Revaluation Latest update  - 1:51

https://www.youtube.com/watch?v=nf81XWUm5lA

Finally time pay off Iraqi dinar latest news – 2:45

https://www.youtube.com/watch?v=sMYsd7qLS94

News, Rumors and Opinions Wednesday AM 3-6-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

Restored Republic via a GCR: Update as of Wed. 6 March 2024

Compiled Wed. 6 March 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 4 March Frank26: “The IQD is going through a phase where it’s being traded internationally on the Forex private side, live. In Jan it was trading at $2.60, last month $2.63 or so, Sunday $2.70, this morning $2.79 and 2pm today $2.84 and just before he got on it was at $2.87. This is a trend that’s going through the reinstatement phase to get to $3.22 (for an expected International Rate).”

Tues. 5 March MarkZ: “I have a lot of sources expecting it to break loose in the next days. I would not be surprised to see it before we reach the weekend. …Official rate still stays at 1310. Doesn’t matter what the Forex says if you can’t go to a free float. …Bond folks are still expecting to soon receive 1% of their money. Last time I checked early this morning the Dinar was about $2.80. You cannot exchange at that yet but it does show things are changing and something is cooking.”

Tues. 5 March Wolverine: “It’s coming. It’s green all over.”

Tues. 5 March “All banks are transitioning over into the QFS. Eight billion people will inevitably transition to the QFS. Start getting hold of the ISO 20023 XLM and XRP. In an age of unparalleled technological advancements, we stand at the precipice of a revolution so profound, it’s poised to reshape our financial, military, and electoral systems. The dawn of the Quantum Financial System (QFS) is upon us, and a new world order awaits. Our world, home to a staggering 8 billion souls, finds itself at the crossroads of a digital renaissance. This isn’t just any change; it’s a quantum shift. And guess what? Every single person will be a part of it. …David Lester Straight,  https://www.facebook.com/david.lester.straight.18059

~~~~~~~~~~

Tues. 5 March Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#:

In a mini sting operation last Wed. bankers were told no early exchanges  – some banks jumped the line and some of the banks that needed to be cleaned up were taken care of  – so now where do we stand now as to our start.

We got an email about 3pm today Tues. 5 March saying we were within 24 hours of being notified and getting our notifications and setting our appointment. We had this confirmed from two different RC’s.

We know the Iraqi Dinar has been trading up on the screen and they are still blinking and moving upwards, but not stable – so what are we waiting on  – I think they just want the currencies to hit the values they want to start and we  will be rewarded for our patience and especially if you use the RC and we should if this holds true we’ll get our notifications tomorrow Wed. 6 March.

When it comes to R&R allowances that is supposed to kick in when the USTN is released between 14  -16 March.

They are able to set those appointments 20 – 25 days into the future.

WF is the Lead bank and HSBC are handling everything globally and Chase are going to have 15 banks in Iraq by the end of this week. Banco Santandar will be the bank in South America.  

~~~~~~~~~~

Global Financial Crisis:

Tues. 5 March: $715,000,000 liquidated from the Crypto Currency market in the past 24 hours. https://www.theblock.co/post/266265/nearly-100-million-in-bitcoin-shorts-liquidated-on-centralized-exchanges-in-24-hours 

Tues. 5 March: Congress debates spending bill to avoid government shutdown this Fri. 8 March: https://justthenews.com/government/congress/congress-debates-spending-bill-avoid-government-shutdown-same-week-bid

JFK issued currency that bypassed the privately owned Federal Reserve — and he paid for it with his life.

Bank of America: $1 trillion every 100 Days added to the Nation’s Debt: https://www.forbes.com/sites/digital-assets/2024/03/02/us-dollar-collapse-bank-of-america-issues-shocking-1-trillion-every-100-days-warning-amid-huge-bitcoin-ethereum-xrp-and-crypto-price-boom-to-rival-gold/

Read full post here:  https://dinarchronicles.com/2024/03/06/restored-republic-via-a-gcr-update-as-of-march-6-2024/

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat  Article quote:  "Does deleting the currency’s zeros affect its value?...”   I called my CBI contact...and I was told to expect the Project to delete the Zeros to occur very soon. WOW! WOW! WOW!  Then...out pops this article, then another and...yet another all dealing with the Project to Delete the Zeros- coincidental? WOW! WOW! WOW! I don’t think so...It is now on the radar scope for the CBI for the very near future?  [Post 1 of 2....stay tuned]

Mnt Goat   remember...the difference between RATE and VALUE...the value is in the dinar already but not reflected yet in the rate. There is no need to increase the value if the TRUE value is being suppressed by the 3 zero rate...Economic expert, Durgham Muhammad, said to the citizens and I quote – “that deleting the currency’s zeros does not conflict with its value”...Okay, so...we all know the rate is being artificially suppressed ...Once the 3 zeros are dropped, (not lopped) the only thing that will change by the Project to Delete the Zeros, is the realization of the TRUE value through its currency. [post 2 of 2] 

BREAKING: BRICS New BLOCKCHAIN & Digital System Will Revolutionize the World

Lena Petrova:  3-6-2024

https://www.youtube.com/watch?v=C3N77IQojX8

Iraqi Dinar Video Updates Tuesday Evening 3-5-24

Iraqi Dinar Video Updates Tuesday Evening 3-5-24

Chase Bank, Wells Fargo & US Bank Reserve Green Lights – 2:54

Central Bank Of Iraq Big Announce About IQD – 2:45

This Is Massive Revaluation Update Today – 3:22

Chase Bank, Wells Fargo & US Bank Reserve Green Lights – 2:54

https://www.youtube.com/watch?v=qnlw2DX5BBA

Central Bank Of Iraq Big Announce About IQD – 2:45

https://www.youtube.com/watch?v=jHjdTS0e1j4

This Is Massive Revaluation Update Today – 3:22

https://www.youtube.com/watch?v=4WqVLukb9WM