Member: Good evening one and all. There are sure a plethora of rumors everywhere!
Member: Mark …can we celebrate yet??
MZ: from the Central Bank of Iraq today…..has us excited. I think it tells us a lot about timing.
MZ: “In continuation of circular # 3449 dated 1-15-2024 regarding the unification and updating of controls and instructions related to the standards for circulation and replacement of bank notes. We attach to you the principal standards and instructions for that will be adopted in the counting, sorting , receipt and delivery of bank notes. To be implemented starting from 1-2-2025 with appreciation That is supposed to continue and be completed 1-15-2024 (2025?)
MZ: they are saying they will be issuing the instructions related to the standards of circulation and the replacement of banknotes…..which has folks excited. .
Member: hopefully the replacement notes mean lower denominations.
Member: So did auctions stop at the CBI?
MZ: They are getting ready to move auctions from the CBI to the banks…We are very close.
MZ” “Iraq to end currency auctions by start of 2025” over the next few days we are going to see so many changes…buckle up.
MZ: “With the closure, new rise in exchange rates in local markets” there are fluctuations going right now with the shutting of the auctions. The cure will be the rising of the rate in the Iraqi dinar. .
MZ: “Tsunami in Iran’s currency and gold markets: Warnings of economic collapse” For A US dollar in Iran- you could buy $850,000 rials. This is nuts.
MZ: “Iraq central bank reports growth in gold reserves, low inflation” They have the lowest inflation in the region. They want to support their currency with assets and a basket of currencies and gold. The last time a country did that in the area was when Kuwait revalued.
MZ: “US Stock markets to close Jan 9 on Carter day of mourning” The New York Stock Exchange announced that it would cease trading on Wednesday to mark the national day of mourning
Member: Per the recommendation of the Securities Industry and Financial Markets Association it’s a long standing tradition to close the markets aft the death of a President.
Member: The NYSE and Nasdaq traditionally close during the funerals of former presidents. When former President George H. W. Bush died on Nov. 30, 2018, U.S. markets closed on Dec. 5.
MZ: What I am getting from my bond contacts ….I spoke to two who say they will settle their bond contracts between the 2nd and 9th of January. They expect to have money in hand before the 9th.
Member: I think notifications this week- Wednesday night into Thursday morning!!!!!
Member: With no ascension to the WTO, no HCL and the US still having sanctions on, which means they are not a sovereign country, can the RV still happen on/ before the 2nd?
Membr: Mark said last week he thinks it would all happen at the same time.
Member: The Iraqi people must know what’s going on, and they are probably more anxious than any of us! This great blessing is needed for the people there!
Member: My small Wells Fargo branch just got remodeled…..used to have 6 teller windows….now just 2 but a bigger waiting room
Member: Chase bank in AZ now offers 100’s at ATM with a daily limit of $3,000
Member: I have a bank story today @ Chase in W Palm Beach. I asked the teller if he knew about the QFS and he said yes with a big smile and said it’s going to be awesome!
Member: Wishing all a Happy New Year, praying it will bless all of you like no other year has.
