A Fixed or Fixed Exchange System for the Iraqi Dinar

KTFA:

Clare:  A fixed or fixed exchange system for the Iraqi dinar

Mahmoud Dagher  4- 29-2024

First: a fixed system:

 Rentier countries seek to adopt a fixed exchange system (pegged) to a strong foreign currency or several currencies (a basket of currencies) to ensure the stability of foreign transactions, as long as they export one depleted commodity and import many goods and services, and they are called “small open countries.”

 Despite the agreement that the floating currency system is considered the best in terms of relative response to the performance of the external economy and the lack of need for sometimes excessive use of foreign reserves to defend the official value in the peg system, the abundance of reserves and the need for stability in foreign transactions have a major impact on the economy. Overall, rentier countries are likely to adopt a fixed exchange rate system.

Iraq is one of the economies whose monetary authority adopts an openly fixed exchange rate system (De jure) and strives to be realistically fixed (De facto). The Iraqi dinar’s peg is classified as a “soft peg” peg that includes accepting a fluctuation of no more than 2% during the period. The last 6 months of IMF audit and 1% average volatility continuously (ereare,IMF,2021).

When dealing with the dinar exchange rate, a distinction must be made between the fixed exchange rate that affects the market, and the contractual exchange rate between the central bank and the Ministry of Finance when selling its dollars to the central bank (which is proven in the budget for the public revenue account), and the market exchange rate remains the most important because it is dealt with in the markets as a value. Reference.

The official dinar exchange rate went through (roughly) the following stages:

From 2004 – December 2020: Buying: 1190 Selling: 1200

From the end of 2020 - February 2023: Buy: 1460 Sell: 1470

From February 2023 until now: Buying: 1310 Selling: 1320

It is noted that there are 10 points (10 dinars) between purchasing banking and non-banking financial units (exchange companies) and selling them to merchants (transfers/credits) or to individuals (in cash) (noting that there is a change within the ten points for motivational purposes, but it is not extensive)

Therefore, during the years 2020-2023, the monetary authority did not leave the fixed exchange system, but rather moved from one fixed exchange rate to another fixed exchange rate, according to what it saw fit in the interest of the overall economy and well-being.

It is natural that the repeated transfers from one constant to another over a short period of time had an impact on the balance levels of the dinar and the size of the gap between the official and market exchange rates. This was reflected in the shifting of financial positions in favor of those holding the dollar again and again in favor of those holding the dinar

. It even had an impact in changing The financial positions of creditors and debtors at each change, noting that those with dinar salaries and income are most affected by the gaps and fluctuations between the official value and the market value of the dinar, especially since changing the amount of the assessment was reduced (12-20-2020) and then raised (2-7-2023). It has a clear positive impact even on the macroeconomy, in addition to being a deviation from targeting stability by essentially adopting a fixed exchange rate system.

Second: An installed system

 There is no doubt that the dinar exchange rate is determined through the dealings of the banking or non-banking financial units that buy the dollar at a fixed dinar price from the central bank (cash or promotion) with the importing public (merchants) or travelers (cash), that is, whoever determines the market dinar exchange rate ( Then the dollar exchange rate) these units deal with customers, and then following up on what happened since entering the platform at the end of 2022 until now, we find that the dinar’s story took two stages:

- The merchants’ stage: In the beginning, the importing merchants were obtaining dollars (remittances, credits: which are the largest part of daily currency window sales), at a price of 1,320 dinars/dollar, but the merchants set the margins of their imported sales according to the (parallel) cash price, and thus the merchants practiced speculation.

 The margin of the exchange rate gap, rather than the trading margins of their activity. This behavior is consistent with the state of profit allowed by the market and the prevailing nature of control.

This stage witnessed a gap of up to (1320 - 1550), meaning a margin of 230 points and an exchange gap of (approximately 17%).

- Participation stage: After the banking and non-banking financial units that buy the dollar from the Central Bank (1310 dinars/dollar) became certain that the gap between what they sell (1320 dinars/dollar) and what their merchant customers sell for

(1500-1550), began intervening to share the margin with these clients, and by imposing commissions amounting to

(3%-7%) on dollar sales to customers, whether in cash or promotions. Rather, it was transferred to cards and Western Union under the name of commissions.

So, the price of the dollar moved from (1320 to 1500) and thereabouts, being shared between banking and non-banking financial units and merchants, and it was almost (1320-1400) the share of financial outlets (so 1400 is the cost of purchasing the new dollar instead of 1320.

More than 1,400 are owned by merchants.

Therefore, the natural and legal public is faced with:

- The official price is 1320.

The price for banks is about 1,400 for transfers and credits.

The price for banking companies is slightly higher than 1,400 for cash and transfer.

The price for merchants is between 1400 and 1500.

Therefore, the exchange system became fixed (by cap) (not fixed) and the cost became approximately 1400 dinars / dollar, due to the cap set by the banking and non-banking financial outlets, and in this situation the fixed exchange system was lost (1310-1320).

Therefore, the continuous stabilization has become dependent on the mutual pressure forces between the merchants’ margin of the currency and the margin of the financial outlets of the currency:

Leaving the real margin represented by the added value resulting from financial and commercial activity.

The reflection of this does not stop at the crack in the fixed exchange system adopted by the monetary authority, which is published in the IMF documents through the Fund’s annual (ARERE) report, but rather goes beyond that to the disparity in the exceptional profits achieved by financial outlets compared to others (due to commissions) in a way that approaches monopoly. For the banking market, which is based on the difference in market share, due to the availability of important correspondents for this outlet compared to the other.

Returning to stability has become limited to the efforts of the following:

• Follow up on commissions (Central Bank).

• Follow up with customs for the entry of goods.

• Follow up with the authorities responsible for financial crime (reporting office, economic crime) to follow up on unregistered commissions for fear of their incorrect use.   LINK

More News, Rumors and Opinions Monday Afternoon 4-29-2024

KTFA:

DeepWoodz:  On June 12, 2023, the GOI passed what they call the tri-partite budget(THREE YEARS). So the operational side has been done since then with no need for any votes by parliament. According to their constitution, Article 62 states the only control parliament has. 

”Second The Council of Representatives may conduct transfers between the sections and chapters of the general budget and reduce the total of its sums, and it may SUGGEST to the Council of Ministers that they increase the total expenses, when necessary.”

Which is really no control at all. 

We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs. Although, we know they have projects going on, but still some info is missing.

DeepWoodz cont…..With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed. 

Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper. 

Obviously Sudani’s government is keeping a secret. I wonder what that could be?

Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt. 

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

Clare:  Parliamentary Finance: The positive results of Sudanese’s visit to Washington will appear soon - Urgent

4/29/2024 Baghdad

The Parliamentary Finance Committee confirmed today, Monday (April 29, 2024), that the positive results of the Prime Minister’s visit to Washington will appear soon.

Committee member Moeen Al-Kazemi told “Baghdad Today” that “the visit of Prime Minister Muhammad Shia Al-Sudani to the United States of America achieved great and important success at the level of various economic and investment files, and these results will soon appear on the ground, especially with regard to the strength of the Iraqi economy.” And the dollar file and its complete control.”

Al-Kadhimi stated, “The government has made great progress in controlling the dollar and preventing any manipulation of the currency in the local market by some merchants and others. This is why we see a noticeable decline in the exchange rate in the parallel market, and the coming days will see a greater decline, as well as the implementation of the economic agreements with Washington.” "It takes time."

The dollar exchange rates are still high and declining from time to time, while observers expect Iraq to witness greater development in the economic sector in various related fields, in addition to the energy sector, with the Sudanese visit focusing on creating a shift in the relationship between the two countries and not being limited to the security aspect.

Especially with the Sudanese signing 18 memorandums of understanding during his visit to Washington 10 days ago.   LINK

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

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

Nader From The Mid East   People calling me since last Thursday asking me, 'We hearing the exchange rate will change on Monday?'  ...I didn't see anything about Monday.  I see really good news.  I believe with all this going on they should go for it.  I think they're ready.  I don't know when or why not.  Some people saying Monday...before the end of the month...May... July.  It's all prediction.  I wish it could happen now.  Today...Let's watch it...

Frank26   WEF [World Economic Forum]...no doubt this is good.  World exposure, this is good...They're being invited to the big boy corrupt party because they have a big boy exchange rate.  That's the important thing.

Mnt Goat  The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi...Article quote:  "...the completion of the files for the initial offer of goods and services within the files for joining the organization”.   No, they did not yet announce Iraq’s full
accession to the WTO but this is certainly getting close...I assume sometime soon, the National Committee will hold its third meeting with Iraq on the accession review...  With the US now backing Iraq this should move along quickly now.

Economic Shock: Bombshell GDP Drop, IMF Slams Congress Spending, Republic Bank Collapses

Sean Foo:  4-28-2024

Despite huge deficit spending, US GDP has fallen down to 1.6 percent in Q1. This should be alarming as the endless borrowing can't seem to prop up the US economy.

The IMF is scolding the US Congress for their spendthrift ways, highlighting how this is putting the global economy at big risk.

Meanwhile, Republic First Bank has collapsed in the US, signalling a resurgence in bank failures thanks to higher interest rates.

 Here's what you must know!

Timestamps & Chapters:

0:00 US Inflation Crisis Not Over

2:56 US GDP Falls Hard

6:29 IMF Slams Congress To Stop Spending

9:47 New Bank Failure Erupts

12:42 Stagflation Future

https://www.youtube.com/watch?v=l90_P3VS2JA

“Tidbits From TNT” Monday 4-29-2024

TNT:

Tishwash:  The Central Bank sponsors the launch of the activities of the Arab Financial Inclusion Week in Iraq

The activities of the Arab Financial Inclusion Week were launched in Iraq, from April 27 to May 2, in cooperation with the Association of Private Banks, under the slogan “Encouraging savings to enhance financial inclusion.”

The activities of the Arab Financial Inclusion Week, which include various governorates, aim to spread banking awareness, protect the public, and provide the best banking services to the public.

It is noteworthy that the activities of the Financial Inclusion Week reflect the continuing efforts of the Central Bank of Iraq to enhance financial inclusion in Iraq.

Central Bank of Iraq
Information Office
29 - April – 2024  link

CandyKisses:  It was a source of fear and terror. Iraq today is a destination for tourists

Information/Report

When Iraq is mentioned almost ten years ago, the manifestations of fear, terror, murder and bombings are criticized in the world mentality, due to the American-Zionist terrorism that gathered all the terrorists of the world and brought them into the country to eliminate it . 

But after the elimination of the terrorist organization ISIS, at the hands of the heroes of the valiant resistance, the Popular Mobilization Forces and the Iraqi security forces, Iraq has today become a destination for the whole world

And from different segments, whether politicians, Artists, athletes or tourists, singing about its beauty, nature and archaeological sites that take them to the stories of One Thousand and One Nights, Sinbad, Shanashil and the purity of the Tigris and the Euphrates.

What strengthened this matter, Iraq became a center for the establishment of a range of international, Asian and Arab activities, including sports tournaments as well as conferences in various sectors such as art, culture, economy and others, the latest of which was the Arab Labor Conference held yesterday

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

Tishwash:  Sudanese opens Iraq's doors to major international companies

Prime Minister Muhammad Shiaa Al-Sudani expressed Iraq’s aspiration to cooperate with major international companies in the field of technology and information technology to move to the digital economy and improve the direction of investments. He also expressed the Iraqi government’s desire to cooperate with technology companies and benefit from them in developing the agricultural sector. In Iraq, indicating that agriculture is a priority in the government program.

This came during Al-Sudani’s reception, yesterday, Sunday, of a group of heads of major international companies in the Saudi capital, Riyadh, on the sidelines of his participation in the World Economic Forum.
In the Saudi capital, Riyadh, the Prime Minister met with the Crown Prince of the Kingdom of Saudi Arabia, His Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud.

During the meeting, they discussed bilateral relations between the two countries, the importance of consolidating them, and reviewed the files of joint cooperation and its growth within the work of the Iraqi-Saudi Coordination Council, which resulted in several understandings in various fields.

Al-Sudani expressed Iraq's aspiration for broader economic cooperation with the Kingdom, which contributes to enhancing growth and provides new opportunities in various economic fields, which reflects the interests of the two brotherly countries and the prosperity of their people.

For his part, the Saudi Crown Prince welcomed the Prime Minister and expressed his thanks for accepting the invitation and participating in the World Economic Forum, stressing Saudi Arabia’s keenness to achieve the best relations with Iraq and raise the level of mutual cooperation between the two neighboring countries.

The meeting touched on the situation in Gaza, and the killing and starvation that the Palestinian people are witnessing at the hands of the occupation forces, and stressed the need to make great efforts to stop the war, the effects of which were reflected in regional and international stability.

Prime Minister Muhammad Shiaa Al-Sudani also met, in the Saudi capital, Riyadh, with the Emir of the State of Kuwait, Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah.

During the meeting, bilateral relations between the two countries were discussed, and ways to develop and advance them, for the benefit of the two brotherly peoples, by investing in the historical and social neighborhood that links Iraq and Kuwait, and emphasizing the importance of maintaining good-neighborly relations and mutual respect.

The meeting discussed the latest developments in the region, especially what is happening in the Gaza Strip in terms of the ongoing Zionist aggression that has caused thousands of martyrs and wounded, and the importance of taking a unified Arab position in order to end the tragedies of the Palestinian people.

Al-Sudani also received, at his residence in the Saudi capital, Riyadh, the regional president of the technology company. German SAP Emmanuel Raptopoulos and his accompanying delegation, on the sidelines of his participation in the World Economic Forum.
The meeting witnessed a discussion of ways of cooperation with SAP, which reviewed its experiences in various parts of the world, as it is considered the largest in the world in the field of developing large programs that combine visions.

Al-Sudani stressed the possibility of cooperating with the company through a joint work program, which includes benefiting from its services in digitizing the economy, which will help achieve innovation and improve the direction of investments, indicating the government’s aspiration to also benefit from its services by including this type of software in Curricula of specialized colleges, and in the field of training in the field of institutional software.

For his part, Raptopoulos expressed the company's readiness to cooperate with the Iraqi government in the technological fields, which helps it implement its vision and plans towards an economy that keeps pace with technological developments in the world.   link

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

Tishwash: Parliamentary Integrity: Iraq can track money laundering crimes even abroad

The Parliamentary Integrity Committee confirmed today, Sunday (April 28, 2024), that Iraq can track money laundering crimes, through its supervisory bodies, even outside the country.

Committee member Duraid Jamil Ishou told “Baghdad Today” that “Iraq, through its competent oversight bodies in the Integrity Commission as well as its competent security agencies from the Intelligence Service and others, can track all money laundering crimes,” noting that “Iraq has achieved success in this file during the last period".

Ishua stated, “Some of the movements of these agencies in this file are secret to ensure the success of the tracking operations, and there is coordination with the country in which this money is moved, in addition to tracking the fleeing corrupt people in coordination and cooperation with the international police,” noting that “Iraq’s foreign relations are good with all countries.” This contributed to achieving success in pursuing the fleeing corrupt people and recovering Iraq’s smuggled money.”

The Integrity Commission had announced that international arrest warrants had reached 19, and the number of requests for legal assistance related to seizing smuggled funds outside Iraq had reached 17 requests, while smuggled funds and their financial transfers amounting to 400,000 US dollars, 22 real estate, 8 shares in companies, 9 bank accounts, and one wheel were followed.

 While the value of corruption funds smuggled outside Iraq amounted to 1,400,500 US dollars, and 10 real estate properties in one investigative case, according to the Integrity Report for 2023 activities.  link

Mot:  finally Broke Down and Got meself an Emotional Support Critter!!!

Mot: Grrrrr -- Fur the Lastest Time! -- NOT Fur Sail!! -- Gunna Fix it up You see

News, Rumors and Opinions Monday 4-29-2024

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.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 29 April 2024

Compiled Mon. 29 April 2024 12:01 am EST by Judy Byington

Judy Note:

Global Financial Collapse on the Horizon: Banks not Basil 3 Compliant by Thurs. 2 May will be closed. First Republic Bank has already collapsed.

While the Cabal’s non-asset backed digital currency won’t be available until 2030, the Global Currency Reset of 209 Independent Republics to gold/asset-backed currencies was already in motion and expected to culminate on Wed. 1 May – A New Beginning.

Timing  (RUMORS)

Tues. 30 April: According to Goldilocks a market reset will now happen across all sectors, including Forex.

Wed. 1 May Day – A new Beginning.

On Thurs. 2 May if a bank was not Basel 3 Compliant, they would either be closed, or absorbed by another bank. The Central Bank of Brazil would launch their new “international banking” system. EBS Test?

Sun. 5 May Orthodox Easter

Effective April 30, 2024, the Depository Trust Company is giving us a notice. They’re telling us that their coverage for settlement risks in assets or securities that are not collateralized could be at risk in a market moving into real values.

Corporate notes or bonds are moving from 50% to 70% haircut value. Cryptocurrencies have a haircut value potential of 100%, and this includes Bitcoin.

In other words, any asset going forward that is not backed by a commodity has a haircut value risk when the market resets into a new set of values based on Real World Assets.

What are we being told could happen after April 30th, 2024? A market reset across all sectors of the market including Forex.

Global Currency Reset: (RUMORS)

On Tues. 23 April an announcement was made on the official website of the Central Bank of Brazil about the advent of a new “international banking” system scheduled to launch on May 2, 2024.

The Iraqi Dinar was the Kingpin that would launch the Global Currency Reset of 209 countries. “The Governor of the Central Bank of Iraq has told the citizens to prepare for a currency exchange.” …TNT Tony

On Fri. 26 April The National Bank of Iraq Went Live with Core Banking and Payments: https://www.temenos.com/news/2024/04/25/national-bank-of-iraq-goes-live-with-temenos-core-banking-and-payments/

Sat. 27 April 2024 Iraqi Dinar is Done…Wait for it: https://youtube.com/shorts/uDHJMobFA8w?si=ysimCGFOCCV6q6R2

Global Financial Collapse:

The First Republic Bank has collapsed.

Sat. 27 April: Cabal Digital Currency designed to rule the World by 2030: https://beforeitsnews.com/economy/2024/04/new-report-over-98-percent-of-worlds-central-banks-gearing-up-for-new-system-of-programmable-trackable-digital-cash-and-24-nations-will-have-liv-3110178.html

BRICS conducts $260 billion worth of trade without US dollar. The BRICS countries aim to eliminate the US dollar from all global trade and transactions by 2024. The bloc’s goal is to put local currencies above the US dollar to strengthen domestic economies and businesses. The alliance is also urging other developing countries to follow suit and make payments for cross-border transactions in local currencies. https://watcher.guru/news/brics-conducts-260-billion-worth-trade-without-the-us-dollar

BRICS makes major announcement about expansion: https://watcher.guru/news/brics-makes-major-announcement-about-expansion

Sun. 28 April Cuban Bank Runs: https://abcnews.go.com/International/wireStory/long-lines-form-frustration-grows-cuba-runs-short-109714175

Read full post here:  https://dinarchronicles.com/2024/04/29/restored-republic-via-a-gcr-update-as-of-april-29-2024/

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

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:  Barzani and Sudani both attending big meetings this evening and they say they want to talk to us.  Could this be it...Is this the talk?  FRANK:  I don't know but I do know these two leaders are about to take you and your country into the new reforms that they have been promising you...It is now being revealed to you... Pay attention to when these two gentlemen talk...because...your media will not even show it to you...Your media is owned by the Iranian politicians... They don't want you to have anything that has been promised to you...

Walkingstick  [Iraqi Bank owner colleague #1]   The results from the meeting #1 was having with the CBI these last few weeks all of that information is now coming to the citizens 'to be revealed'.  That's happening right now...a massive campaign of education to the citizens.  This phase is talking to the citizens. 

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

BRICS Currency Announced! Is it Gold Backed?

AMPEX:  4-28-2024

In this week’s video, we look at Russia’s announcement of an official BRICS currency.

 There has been speculation and rumors of this currency for some time, and one major theory is that it would be backed by a basket of commodities including gold.

However, the Kremlin recently announced they have almost completed a digital currency based on blockchain technology. Backed by gold or not, if a new BRICS currency becomes internationally adopted for trade, the U.S. Dollar will lose value.

 If U.S. Dollar’s value decreases, we expect the price of gold to increase.

While there is no official launch date yet, dismantling the dollar will take time and we don’t expect it to go down without a fight.

In the meantime, we will keep an eye out for any official launch date and stay ready to keep viewers informed.

https://www.youtube.com/watch?v=M0JVAxrlA1A

“Coffee With MarkZ” Monday Morning Chat 4-29-2024

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

Member: Good Morning everyone. …Welcome to a new week of Great Expectations!!!

Member: Happy Monday.

Member: What happened to the Saturday show? I’m only on you tube?

Member: Power outage in Puerto Rico

MZ: And so far this morning we are watching the collapse of the Japanese yen…..Things are getting interesting.

MZ: There is a lot of chatter from the bond side from folks that had appointments  postponed last week. They have great expectations that they receive their final contracts and 1% paid this week.   I am anxious to see what happens with bonds next.

MZ: Sources from Iraq are still very quiet as of today. It will be later today or tomorrow before I get updates from the banking and redemption side.

Member: Mark are all the other countries as ready as Iraq???

MZ: “Head of Vietnams parliament resigns amid corruption crackdown”  This is what we are watching as Vietnam prepares.  As I understand it this is a key to Nesara/Gesara

Member: I sure wish that would happen in the US. We need a major clean up on corruption in all areas of government.

Member: What’s up with the Brazil banking rumors!!!!!!!!!!????????

Member: Brazil is supposedly announcing a “new” banking system May 2nd to their country. Could that be the QFS?

MZ: There are a crap-ton of rumors. We just need to see what pans out

Member:  Many seem very positive for this week???

Member: Nader says rumor that they may delete the zeros today

​​Member: Militia Man is almost giddy about our situation .

Member: I wonder what is Iraq waiting for to post rate???

MZZ: “ National Bank of Iraq empowers digital transformation with “Temenos” core banking system”  This will help them go after corruption and illegal dollars.

Member: I had heard that dinar will be 3.90 to 1 usa…wouldn’t that be great?

MZ: We have heard that rumor….it’s in the range of possibility – no way to confirm until we are at the banks.

Member: I’d be happy with $3.90, but I hope it to goes for more

Member: ​​Is there another reason why We might go on May 9, besides Iraq’s meeting with the WTO?

Member: If Iraq becomes a full member of the WTO on the 9th- I would think the new rate would happen before that?

​​Member: Mark, in your opinion does Iraq have to publicly disclose their new exchange rate prior to WTO ascension??

Member: Iraq just got back from Saudi Arabia big meeting.  SA is in BRICS…Maybe Iraq will soon join BRICS as well?

Member: Venezuela just joined the brics….. hold on to your bolivars

Member: It looks like BRICS is the future ..Wish we could all join it.

Member: Iraq is installing fingerprint locks on all cargo containers with GPS and photo capabilities

Member:  Rumor:  Iraq launched a new SWIFT system for handling large amount cash transfers over the weekend, correct?

MZ: I don’t know If I would call it a “SWIFT “ system…but yes….in a nutshell it’s their own system ….a modernized system. The “Temenos”  core banking system.

MZ: “ JP Morgan Chase and Bank of America suffer $4.3000,000,000 Billion in losses as Unrecoverable debt soars”   These are credit cards that people quit paying on where most of this is coming from…..They are seeing more and more defaults.

MZ: “After overnight collapse to 34 year lows- Yen surges in apparent intervention”  The Bank of Japan had to intervene to rescue the currency…..how many times can they do this before it cascades out of control???.

MZ: We already had our first bank failure of the year….keep watching.

MZ: “ Zimbabwe ZIG- Police clamp down on illegal forex dealers” Some forex dealers were caught trying to manipulate Zimbabwe;’s gold backed  currency.  The Zig right now is doing exceptionally well.  They are doing a fantastic job in Zimbabwe.

Member: The rest of the world need to move to gold backed money now…..hope it’s soon.

MZ:  This is a good reminder- One of our purchasers from South Africa in gold mining…one of the biggest buyers told us about 20 years ago that the large push in central banks and  National treasuries ….was because that sometime between then and 2024 we were going to a gold backed standard…..we don’t know when- but we do know we will be going to a gold standard.

MZ: That is one of the reasons I have so much faith in this. It’s inevitable.

Member:  Do we have any idea how many people in the world own Bonds?

Member: In many countries people hold historic bonds…..probably thousands…if not more.

​​Member:  Mark, have you heard what the banks will be charging for their services to exchange our currency. Is it based on the amount of currency or how many different types of currency.

Member: We were once told the bank fees are built into our exchange already….and they will not come off of our exchange funds. Hope that is true.

Member: This week sure feels promising to me.

MZ: I agree – it does feel promising.  I am expecting a lot of key information to come out this week.

Member: I wonder if there one day of the week that is more likely than another to RV?

Member: Charlie Ward thinks it will most likely happen on a Thursday?

Member: Still praying the RV will occur in the month of MAY!

Member: I hope it happens before Memorial Day…

Member: I just pray we are not waiting until after the November elections…..That would suck.

​​Member:  Each day brings new opportunities, allowing you to constantly live with love—be there for others—bring a little light into someone's day. Be grateful and live each day to the fullest.

Member: Thank you for being here every morning & evening Mark. We love & appreciate you so much

StacieZ joins the stream at the end today. Please listen to replay for her information.

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

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

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

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

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.

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=ybjdQ34hOEM

Iraqi News Highlights and Points to Ponder Monday AM 4-29-24

Iraqi News Highlights and Points to Ponder Monday AM 4-29-24

To Address The Dollar Exchange Rate... Mazhar Muhammad Explains To Al-Zawraa The Dangers Of Floating The Iraqi Dinar

Posted On04-28-2024 By Sotaliraq  04/27/2024   Mustafa Falih:   The government’s financial advisor, Mazhar Muhammad Saleh, explained the dangers of the economic vision that wants to float the Iraqi dinar as a solution to address the double dollar exchange rate, while Provide an alternative economic vision.

Saleh said in an interview with “Al-Zawraa”: “The economic vision that wants to float the Iraqi dinar to end the gap between the official rate and the exchange rate parallel to it may be possible in an economy in which the free market is the only one influencing the movement of the balance of payments and not in an economy in which the government sector is dominant and rentier-generating.”

Reserves supporting foreign currency, in which the monetary authority is the main source of supply of foreign currency and meeting the desired demand for foreign exchange.”

He added, “Claims (for floating) mean in all cases adopting the prevailing exchange rate in the parallel market to achieve the goal of stability and balance in the official exchange rate itself at a new exchange point that the market will reach at the end of the supposed floating policy and return to stability again.”

He pointed out that “the scenario of demands for floating means, in all cases, the withdrawal of the monetary authority (as a primary central exhibitor) of foreign currency, and is replaced by new forces that exhibit foreign currency from free market makers, which certainly only have a weak, limited supply of foreign exchange, and at the same time they carry... An uncontrolled bundle of inflationary expectations is called the forces generating inflationary expectations.”

He explained that “the new hypothetical supply forces for foreign exchange adopted by the exchange market in that scenario will mean the dominance of supply forces from speculators with very limited quantities of foreign exchange available for supply in the parallel market, matched by an open demand for foreign currency on the part of the market that undoubtedly exceeds that limited parallel supply.” of foreign exchange, perhaps at least more than ten times.”

He stressed that “such a policy of floating to achieve a homogeneous equilibrium exchange rate will be an open and perhaps (unruly) situation as long as the central government supply of foreign currency will be absent from the market,

and we will not then obtain any equilibrium point in the exchange rate that the float seeks except with a widespread deterioration of the exchange rate as long as It is controlled by forces that generate inflationary expectations,

and it is an exchange rate whose mechanisms will move in a market that is incomplete in terms of productivity to compensate for the required supply of goods and services,” adding,

“Then no one knows how much the new price resulting from (floating) will be, which will undoubtedly be accompanied by a prior wave of expectations.”

Inflation is a dangerous wave whose trends are difficult to control, which may force monetary policy to intervene with excessive foreign reserves and unjustified extravagance in foreign exchange to impose a state of stability in the general level of prices.”

He noted that “the difference in the two prices did not come due to the limited supply of foreign exchange at the monetary authority, but rather came as a result of a sudden external factor imposed by the compliance platform and administrative audit restrictions on external transfer movements.”

He explained that “the alternative solution to the flotation scenario, which is a scene surrounded by inflationary risks in mono-economy countries, is to resort to reducing the exchange rate to create harmony in the exchange market.

It is possible to go to amending the customs tax schedules and imposing customs discipline with precise, studied conditions that protect the national economy, and here it depends.”

 To financial policy instead of the ease of delving into and risking the principles of stability in monetary policy to provide the required price homogeneity in exchange rates.”

He pointed out, “The high operating spending in the annual public budgets, which has always generated cash income from rentier sources that are not matched by the very limited productivity of commodity and service flows, has made the country essentially dependent on large-scale imported consumer goods, which requires a higher examination in Import policies inherited over the past twenty years.” LINK

A Sudanese Advisor Reveals The Reasons For The Decline Of The Dollar And Its Proximity To The Official Price

Time: 04/28/2024 19:11:58   Read: 4,134 times  {Economic: Al-Furat News} The financial and economic advisor to the Prime Minister, Muhammad Mazhar Saleh, revealed today, Sunday, the reasons for the dollar’s ​​decline and its proximity to the official price.

 Saleh said {to Al-Furat News} that: “The exchange market achieved a decline in dollar prices during the past six weeks with a rate of change in favor of the Iraqi dinar approaching 9%, and that all of these positive developments work in the interest of the strength and stability of the Iraqi dinar and this reflects positively on the general level of prices, which is still... It indicates annual growth that does not exceed 4% and is measured periodically.”

He added, "The efforts of economic policy have truly combined to impose a climate of stability in the general level of prices, which was indicated by the state of superiority of the official exchange market in financing Iraq's foreign trade in the face of the decline in the effects of the parallel market and the decline of its illegal activities in a gradual and accelerating manner now."

Saleh pointed out “a number of factors that contributed to this positive development in the exchange rate of the Iraqi dinar, as at the forefront of those factors comes the increased capabilities of operating banks to comply with external transfer rules and the high percentage of requests requested and executed in foreign currency by the private commercial sector to finance trade.”

 External transfer accounts for approximately 85% of the total requests from official transfer outlets.

He continued, "It is now being implemented with great speed and efficiency, compared to the previous period, which did not exceed 30% of the total desired demand for foreign currency, which then caused great pressure on the parallel exchange market, which means that the foreign currency window has now begun to meet most of the demands.

" The base is based on the desired dollar, at an official exchange rate of 1,320 dinars per dollar, with high flexibility and compliance, instead of illegally resorting to financing foreign trade using parallel market methods with high risks.”

Saleh added, "Also, the growing strength of Iraq's foreign reserves, which exceeded 110 billion dollars, and at the same time indicates the high standard of Iraq's commercial efficiency, which exceeds {eighteen months of imports} compared to the global standard of {three months of imports}."

In light of the above, the Sudanese advisor affirmed, saying, “The stability of external transfer operations at this level of growth and improvement will undoubtedly provide sustainability in the state of stability in the exchange market, which will undoubtedly make the parallel exchange market approach the official market.”

Today, Sunday, dollar prices recorded a decline with the closure of the main Kifah and Harthiya stock exchanges in Baghdad, recording 145,200 Iraqi dinars against 100 dollars, while dollar prices recorded this morning 145,700 Iraqi dinars against 100 dollars.   From: Raghad Dahham   LINK

For The Second Day In A Row...A Noticeable Decline In Dollar Exchange Rates In Baghdad

Economy |Baghdad today – Baghdad  Today, Monday (April 29, 2024), the exchange rates of the dollar against the dinar recorded a noticeable decline in local markets in the capital, Baghdad.

The "Baghdad Today" correspondent said, "The selling price of the dollar today, in the banking offices in Baghdad, reached 145,750 dinars for every 100 dollars."

While "the purchase price reached 143,750 dinars for every 100 dollars."    LINK

A Final Suspension Of Cash Payments At The Nationality And Passports Departments

04-29-2024 | 3,030 views  Al-Sumaria News - Local Affairs   The Directorate of Civil Status, Passports and Residence announced today, Monday, the complete suspension of cash payments, and limited to electronic payments, starting next May 1.

The directorate said in a statement received by Al-Sumaria News, that it would like to "notify that it has completely stopped working with the electronic payment system only and stopped receiving cash payments permanently."

She explained, “This decision will be effective from 5/1/2024, noting that the directorate’s departments are fully equipped with electronic payment devices, and this step comes to keep pace with development and facilitate procedures for honorable citizens.”   LINK

Civil Status: Cash Payment Will Be Permanently Stopped At The Nationality And Passports Departments

 April 29, 2024  The Directorate of Civil Status, Passports and Residence announced, on Monday, the complete cessation of cash payments, and limiting them to electronic payments, starting next May 1.

The Directorate stated in a statement that it would like to “advise the complete operation of the electronic payment system (pos) only and to stop receiving cash payments permanently.”

She explained, “This decision will be effective from May 1, 2024, noting that the directorate’s departments are fully equipped with electronic payment devices, and this step comes to keep pace with development and facilitate procedures for honorable citizens.”   LINK

Provoking Points To Ponder on Failures and Mistakes:

Half the things that people do not succeed in are through fear of making the attempt.- James Northcote

The man who fails because he aims astray, or because he does not aim at all, is to be found everywhere.- Frank Swinnerton

Half the failures in life come from pulling one's horse in when he is leaping.- A. W. Hare

I cannot give you the formula for success, but I can give you the formula for failure: try to please everybody.- Herbert Bayard Swope

If your project doesn't work, look for the part that you didn't think was important.- Arther Bloch

Ninety-nine percent of the failures come from people who have the habit of making excuses.- George Washington Carver

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Iraqi Dinar Today Video Updates Late Sunday Evening 4-28-24

Iraqi Dinar Today Video Updates Late Sunday Evening 4-28-24

Surprising Update Chase Bank & Wells Fargo Massive Announcement – 3:31

Dong Going To Be Revalue With $4.22 USD – 3:31

Finally Sudani Announced IQD New Exchange Rate Officially – 3:27

Iraqi Dinar  Reinstatment At New Rate $3.22 USD – 4:32

 Surprising Update Chase Bank & Wells Fargo Massive Announcement – 3:31

https://www.youtube.com/watch?v=sXDIkwC2QUY

Dong Going To Be Revalue With $4.22 USD – 3:31

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

Finally Sudani Announced IQD New Exchange Rate Officially – 3:27

https://www.youtube.com/watch?v=GP14iKxWnsw

Iraqi Dinar  Reinstatment At New Rate $3.22 USD – 4:32

https://www.youtube.com/watch?v=N-jPcHm5HA8

Iraq Economic News and Points to Ponder Sunday Evening 4-28-24

Iraq Economic News and Points to Ponder Sunday Evening 4-28-24

An Expert Talks About The "Biggest Barrier" And The Positives Of Merging Iraqi And Arab Banks

 Economy |Baghdad today – Baghdad    Today, Saturday (April 27, 2024), Professor of International Economics, Nawar Al-Saadi, revealed the  benefit of merging the Iraqi banking sector with its Arab counterpart, and how  this approach could contribute to lifting US sanctions on some Iraqi banks.

 Al-Saadi told "Baghdad Today",  "In light of the current economic conditions, the idea of ​​merging the Iraqi banking sector with its Arab counterpart comes as a positive step in order to strengthen the Iraqi economy and  enhance economic cooperation in the region, as  this merger can achieve several benefits, including  enhancing stability."

Finance by providing advanced methods and mechanisms for managing funds and exchanging financial information between Iraqi and Arab banks.

He added,  "In addition to enhancing financing capacity, merging the Iraqi banking sector with the Arab sector  contributes to increasing the financing capacity of Iraqi institutions and companies,   enhances economic growth and contributes to  developing infrastructure and  creating job opportunities.

 But the most positive thing is expanding the scope of financial services because the Iraqi banking sector It lacks advanced services,  but if the integration takes place with the Arab banking sector, Iraqi banks can expand the scope of financial services available to citizens and companies,  which will  enhance access to financial services and inevitably contribute to enhancing economic development.”

He continued, "The Arab banking sector's involvement with the Iraqi sector could be considered a risk for Arab banks, given the legal and financial challenges imposed by international sanctions on Iraqi banks.

 However, these challenges can be addressed through cooperation with international financial authorities such as the US Federal Reserve to take measures." necessary to ease the restrictions imposed.  The professor of international economics stressed that

 "in general, achieving banking integration between Iraq and the Arab world requires joint cooperation and mutual efforts to overcome challenges and obstacles, in order to enhance economic stability and promote sustainable development in the region."

 The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed yesterday, Friday, that

Iraq is witnessing a clear targeting by depriving half of the banks from dealing in dollars, describing it as a “danger indicator” at the economic level.

 Al-Handal said, in his speech during the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut and followed by “Baghdad Today,” that  “the forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq,” adding.

 “Iraq is still facing major challenges, at various economic levels, including depriving the Iraqi private banking sector of using the dollar, which has exceeded half the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts of Iraqi governmental and private institutions to comply with laws against money laundering and terrorist financing.” Local and international.” 

He explained,  "For the first time we are witnessing a clear targeting of the sector, which has begun to affect banking services within the country, undermine citizen confidence, and hinder the expansion of financial inclusion," stressing that  "these challenges facing the banking sector reaffirm the role of the Union of Arab Banks."

 International organizations and Arab banks play a prominent role in coordinating positions and confronting dangers together.” 

Al-Handal pointed out that "this meeting represents an opportunity for cooperation and agreement on a work roadmap for the future, as  targeting the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil." 

He continued,  "The Association of Private Banks is working with the Iraqi government, the Central Bank, and some local and international institutions, to save the banking sector, and return banks deprived of dealing in dollars to their activities, but this is not enough,

 but rather requires continuing cooperation with the Arab and foreign banking sector, because the stage of integrating the sector Iraqi banking with its Arab counterpart must begin quickly, and

 we are taking great steps in this direction, especially since Prime Minister Muhammad Shia al-Sudani held dialogues in Washington with the American President and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing in dollars and supporting... The private banking sector.

 During his speech, Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value, pointing out that

 “Iraq is witnessing... “There has been a great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since  there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance.”    

https://baghdadtoday.news/248052-خبير-يتحدث-عن-الحاجز-الأكبر-وإيجابيات-دمج-المصارف-العراقية-والعربية.html    

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

 Provoking Points To Ponder on Failures and Mistakes

Failure at a task may be the result of having tackled it at the wrong time.- Brendan Francis

We fail more often by timidity than by over-daring.- David Grayson

Failure is more frequently from want of energy than want of capital.- Daniel Webster

Losers have tons of variety. Champions take pride in just learning to hit the same old boring winners.- Vic Braden

Lack of will power has caused more failures than lack of intelligence or ability.- Flower A. Newhouse

The word fate ... is the refuge of every self-confessed failure.- Andrew Soutar

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Iraqi Dinar Video Update Sunday Afternoon 4-28-24

Iraqi Dinar Video Update Sunday Afternoon 4-28-24

WOW Vietnamese Dong New Value 4.45$ - 3:07

Iraqi Dinar Chase Bank Announced New Latest Update – 3:02

WOW Big Happening IQD Exchange Rate – 3:30

Al Sudani Big Statement IQD New Rate – 3:43

 WOW Vietnamese Dong New Value 4.45$ - 3:07

https://www.youtube.com/watch?v=IQRXeZdMGf0

Iraqi Dinar Chase Bank Announced New Latest Update – 3:02

https://www.youtube.com/watch?v=wKR6oUWX-24

WOW Big Happening IQD Exchange Rate – 3:30

https://www.youtube.com/watch?v=jY0zDpZwPQA

Al Sudani Big Statement IQD New Rate – 3:43

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

KTFA Sun. Night CC: “ FRANK26….4-28-24…..FORGET PARLIAMENT!!”

KTFA

Sunday Night Conference Call

FRANK26….4-28-24…..FORGET PARLIAMENT!!!

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

https://www.youtube.com/watch?v=VN5nyJXUhrg

The US Economy Bubble is BURST: What Next?

The US Economy Bubble is BURST: What Next?

Fastepo:  4-27-2024

The U.S. government's debt has been a growing concern, especially with recent figures surpassing $34 trillion as of early 2023, marking a significant increase in less than a year.

This level of debt is not only historically high but also raises alarms about potential economic implications.

Historically, U.S. government debt has surged due to a combination of factors, including policy decisions and economic shocks such as the 2008 financial crisis and the COVID-19 pandemic, which necessitated substantial fiscal stimulus.

This trend has continued over the past two decades with the debt increasing annually, significantly affected by government spending exceeding revenue.

The comparison of the current debt level to World War II is notable, as the debt to GDP ratio now approaches or exceeds the peaks seen during that era, which were the highest in U.S. history until now.

While the post-war period saw a reduction in debt relative to GDP due to economic growth and fiscal adjustments, the current projections suggest a continuing rise without similar mitigating factors.

Economists and policymakers express concern that if the growth of debt continues to outpace economic growth, it could lead to higher interest rates, decreased private investment, and an increased burden of interest payments on the federal budget.

 This scenario could potentially crowd out funding for other essential services and investments. Looking ahead, projections indicate that the U.S. debt trajectory is unsustainable under current policies, with expected increases in healthcare and Social Security spending as the population ages.

Without significant policy changes, the federal debt could rise to between 137% to 143% of GDP by 2053, which poses substantial risks to the country's fiscal health and economic stability.

In this video, we'll explore the significant issue of the United States' high debt levels. We'll examine the potential effects on both the U.S. and the global economy.

 Additionally, we will analyze how China and Russia, two prominent members of the BRICS nations, might benefit from uncontrolled U.S. debt levels.

https://www.youtube.com/watch?v=IKzHmqe0_Rk