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: GM all wonderful people on the chat
Member: Are we there yet?
Member: I feel this journey will never end and we all are just hanging on by a thread
Member: It’s always darkest before the dawn…
Member…..With all the bad going on everywhere is the world….we could sure use some good news.
MZ: “Parliamentary Finance : These are the reasons for the rise in the exchange rate of the dollar against the Iraqi dinar” There have been fluctuations going on right now. The Central Bank is saying “It’s not us” They have a pegged exchange rate and the inconsistencies are because of smugglers and unscrupulous business people in some unlicensed exchange offices.
MZ: The reality is that this is going to exist until the value of the dinar is the same or more that the rate of the US dollar. And they know it at the Central Bank. They know this problem will instantly go away the moment they get a rate change.
Member: Then why don’t they do something??????
MZ: I think the Central bank is letting us know how close they are to the REER. (Real Effective Exchange Rate)
Member: Iraq is like a baby.. it arrives in it’s own time!!
MZ: “The value of loans and advances to Iraq banks increased to more than 61 trillion dinars” What does this mean? This is what we thought we would see as their economy kicks into a life of its own. There is a lot of progress in Iraq right now.
MZ: “Iraq oil prices are rising. Basra crude touches $78”
MZ: There is a lot of conversation going on right now about a real effective exchange rate. A meaningful rate change….The value of the dinar is very important and oil prices can and will affect it. They are looking for a oil price above $70 a barrel for stability but would love it above $80..
MZ: If you follow most of their math on the REER ….The worst case scenario or bare minimum it could possibly be is.76 cents..….. What we are expecting is in the high $3 range or low $4 range which makes the most economic sense. I am still being told to expect higher than that.
Member: 76 would be in country if anything-imo. We’ll have a REER added.
Member: Have you heard from any Bond holders yet?
MZ: No banker or bond news yet this morning. It’s been very dry and very silent.
Member: Ok there is a lot of chatter about VND and others….my question is are they going to all RV at the same time or does anyone know
Member: IMO If Iraq goes first and alone – the others will follow shortly after…….
MZ: I have not seen anything on the dong recently. My bank people are still telling me its fluctuating from $2.16 to over $3 on screens. They say to not put too much faith in those yet as it is probably just a testing of the system.
Member: We may need a show on how to diversify and protect our exchanges if we get paid Fiat?
Member: Iraq has completed WTO requirements according to articles
Member: What did the Kuwaiti dinar go for when they RV’d?
MZ: I believe it was about $3+ and fluctuating….It went up to about $9.88 within days on that crazy float…..Then it came down to the $4’s and settled in the mid $3’s where is has pretty much stayed for more than 20 years….. …It was not pegged. That is why I think we will not see the same crazy float with Iraq.
Me Member: You think the weather is disrupting the RV? Is this their way of halting it…the rats that is
Member: At this point I don’t think there is any specific event that will trigger the RV. That’s said, given all the progress that’s been made in the past 2.5 years it makes no sense why it hadn’t happened!
MZ: I do not think a hurricane in the US will stop a RV in Iraq.
Member: Iraq is in a great position now…..They just need to do it!!
Member: Nigeria dumped the dollar.. now paying in local currency
Ember: BRICS is having big meetings this month….
Member: This upcoming weekend is a 3 day weekend for Columbus day….Maybe something will finally happen.
Member: I still believe we have to wait until after the election…..but that is only 3 weeks away now .
Member: Everyone we are praying you will be safe in the coming storm about to hit Florida….
Member: Also praying for the people in North Carolina who are still recovering from Helene….
