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 Evening Mark Z, Mods, Zester, and Everyone !
Member: What do you think about the October 1st static?
MZ: I think it’s doable…
MZ: The chatter coming out of the banking side has been pretty severe today- in a good way. They say rates are being seen…but I havn’t confirmed them …But I am hearing this from 3-4 different sources that work at different banking institutions….and they all agree on the rate of $3.57 on the screens. ….. I expect it’s all over the dinar boards.
MZ: It’s certainly interesting this is being seen by so many …and the same rate.
Member: Do you think it’s possible for Iraq to keep the new rate quiet like they did in Iraq?
MZ: I think they might be able to keep it quiet a day or two….if they pull the trigger late on a Friday or Saturday ….but that’s it because of the internet. They will not be able to pull off what they did in Kuwait now.
Member: hey Mark! I may be asking a dumb question but is devaluation and revaluation the same?
MZ: They can be the same- you can revalue down or you can revalue up.
Member: But devaluation always go down I think
MZ: “Iraq Plans Currency Redenomination amid economic challenges” they are talking openly about redenomination…..deleting the zeros or make them unnecessary and remove them…and we are seeing this over and over again. Kuwait used the exact same language .
MZ: “Iraq reviews the US Treasury the date of abandoning the currency auction” this is so important. I was told Oct 1st- no more foreign currency auctions. This is the one thing I was told to look for –When they are done with foreign currency auctions…they would revalue. And this news just came out today that they are ending them.…. I can’t wait to hear what MilitiMan has to say about this one.
