Thursday Evening Update with MarkZ 04/28/2022
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 all……was hoping Mark would be wearing that golden suit tonight.
Member: Step right up and get your tickets for the RV roller coaster!
MZ: Let’s talk about what is going on….”The Iraqi government has confirmed that the Eid-Al Fitr will begin on Sunday the 1st of May and end on Thursday the 5th of May” …. I am still hearing this is the target. And within 3 days or so at the end of this holiday is when they expect to have a new value on the dinar.
MZ: That is what I am being told from inside the sandbox. Other than that it has been very quiet on the RV front. Which is what we expected at the end……A lot of anticipation and a lot of preparation.
MZ: My redemption center folks will be on call this weekend. They don’t think they will be working this weekend based on all the chatter. ,,,so maybe it would be a great time to slip it in there.
Member: This is a marathon…not a sprint!
Member: So from what you are hearing May 8th is the date?
MZ: At this point I would say around the 8th to the 10th…
Member: May 8th would make it a great Mother’s Day.
MZ: This would fit with dates our military contacts have been telling us for the month of May. I am hopeful this is it.
MZ: I wanted to share a link with you tonight from a New York times Article from 1991…reporting the revaluation of the Kuwaiti dinar.
MZ: NY Times article from 1991 reporting the revaluation of the Kuwaiti dinar
When Iraq invaded Kuwait in August of 1990, the value of the Kuwaiti dinar dropped to about 5 cents. In other words, it took 20 Kuwaiti dinars to buy one dollar.
In February of 1991 Iraq was expelled from Kuwait, and a month later, the banks revalued their currency to $3.47, the highest valued currency in the world. When this occurred, the New York Times reported the event on March 25, 1991.
It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.
Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money….
All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
At the same time, the UN put Iraq under trade sanctions, crashing the value of the Iraqi dinar (IQD) from $3.22 to about 4000 to the dollar. Their currency could only be spent in Iraq itself, and people had to carry around wads of 25,000 dinar notes to buy groceries.
Then in 2003 coalition forces invaded Iraq and overthrew Saddam Hussein. By 2004 we gave them a new currency without Saddam’s picture on it. The value soon doubled and went up to 2000 to the dollar. A few years ago the Central Bank of Iraq managed to stabilize the value at 1166 per dollar.
On June 27, 2013 the UN removed Iraq from Chapter VII sanctions, allowing Iraq to regain control of close to $80 Billion in frozen funds that had been sitting in western banks since 1990. This also allowed Iraq to be reinstated on the world’s banking network, as soon as they are ready. At the same time many expect to see the IQD revalued at or near its former position.
MZ: There is a pattern that is repeating itself greatly.
Member: I’m seeing may 1st to be notified due to iso 20022 compliance
Member: Isn’t our banking system off the Swift on May 1st???
Member: DEUSTCHE BANK IMPLODING!!!….EYES ON GERMANY!!!
Member: Nick Fleming called it for May 5th…. if I recall……. One day, someone will get it right
Member: My credit union will be closed April 29 to May 1… for “scheduled maintenance“. Never happened b4.
Member: This movie sucks!!!
Member: I’m really sick of popcorn.
Member: Dear God, it’s me again. I know your time is valuable but if you could make this happen real soon, we would all stop asking. Thank you
Member: Good evening everyone, see you all latter at whiskey and wisdom
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
The next stream is tomorrow at 10Am est……..unless.
Whiskey and Wisdom is tonight at 8 pm est.
Source: Dinar Recaps
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