Sunday, March 10, 2024

ZIG'S PLACE CHAT: "FUTURES TRADING OF THE IQD AT $3.12" , 10 MARCH

 Zig’s Place Chatroom News Friday Afternoon 3-8-24

Dave   Wow!...FOREX IQD 3.12 BUCKs..... WE BE RICH......LOL

Zig   Dave : LOL....Sheila told me that that is futures trading of the IQD.....never heard of that before

PM Dave   FUTURES SELLING? 3.12 bucks....SOLD!!!

Dave   Zig Sell you all mine fer a dime...

Zig   Dave : I do not understand that platform futures trading that sheila has mentioned.....I would ignore those rates.....lol

Dave   how aqbout a nickle?

Sparky   Dave ... you and me both ...

Dave   Sparky Should be ASKing shelia orTWW fer a nickle then?

Zig   Dave : Kap thinks we could see a nickel in 6 months after the float starts.....lol

Dave   LOL

Sparky   ... I thought it was $3.28 yesterday ...

Dave   Sparky Forex don't lie?

Sparky   ... oh, shucks ...... I must have missed it by a day ...

Dave    Sparky back down to0.0007 ?

Sparky  ... .0006404 ...

Dave  missed that boat yet again too    Sparky LOP that!

Sparky  ... we need to be careful, what they lop ...

Dave  6 mos of wheel barrows.......

Zig  Dave : Your last conversation with Kap was fairly decent.....lol

butterfly  Honestly I don't know where these people are getting these amounts. Remember back with the rate was in the "teen".

butterfly  I believe the IQD was 2.85 before the invasion.

butterfly  Iraq can't match these numbers.

Zig  butterfly : Sheila said that it was "futures" trading.....so just anticipated future rates being traded

Sah  The Forex futures are by 1000. So if Europe is 1096 that is equal to 1000 USD. Move the decimal over to the left by three digits and more like .000328 Dinar to $1 USD.

butterfly  I could not find anything, nada, zilch from the .0007 rate. Long time ago it was .0009

Dave  CBI yrs and yrs AGO delete 3 zeros and Restore purchasing power of the IQD....

Sah  Dave Not if it is a lop. The value would not change, just smaller bills.

Dave  each note costs aleast a nickle to print

Sparky  Sah ... then slow rise ... makes sense to me ...

butterfly  It has been several years back that silvergreetings took back my 250 OR 50, I can't remember which it was and replaced them equal. I haven't looked at my dinar in yrs so I have NO clue what I have now.

Dave  Sparky with notes with have 3 less zeros

Sparky  Dave ... yup ...

Sah  They won't lop because they would have to print all that money to replace the three zero currency.

Dave   :wheelbarrow with money:

Butterfly  I believe, just me, this will all be done digitally.

Sparky  ... Shabibbi had articles out about the new, lower denoms back in 2013 ... same coloration ...

Sparky  butterfly ... I agree ...

Sah  It will go international and float from where it is otherwise we will have problems exchanging our currency for the new all though they could both be used for a limited or unlimited time together just take three zero off and will be the same.

Dave  butterfly Yes...ONCE all Iraqis have bank accounts

Sparky  Sah ... yes, transition ...

Dave  CBI had 5 or ten yrs to exchange

Sparky ... accounting purposes, mainly ...

Sah  Dave Kuwait had 30 days.

Dave  CBI mentioned 5 or ten yrs to exchange notes

butterfly  Again, Abraham said to STOP listening to the so-called gurus, everyone will know at the same time. I live by that bc he has proven to be right.

Sparky  ... yup, I recall that ...

Sparky  ... above directed at Dave ...

Sah  What we need is three decimal points off of the value of the currency not off the currency it self.

Sparky  Sah ... in a perfect world ...

Sah  No doubt.

Dave  Sah   :wheelba:

butterfly  Seck would know what the rate was, I believe it was 2.85 when they had the downfall of Saddam. Ask yourself, why would they not go back to that same rate, not 3+. It just does not make sense. IF they do go back to the rate, I truly believe it will be even lower then the 2.85.

Sparky  ... prolly will be a slow ride ... imo ... a few more years ...

Sparky  ... 17 ... ? ...

Dave Sparky NO laws.... aint happening until bench marks achieved

Sparky  Dave ... hence, Iranian influence ... imo ... since saddam, Iran took over Iraq ...only Saudi stops them ... and, both of them are enemies of the United states ...

Sah  It has to float first and hold it's own before any miracle can happen, also there is a problem with how many notes have been printed since then that decreases the value of the currency.

Sah  Iran is complaining because Iraq is building a high fence between their borders. Farmers are complaining on both sides as the river is there and their animals can not get to it if they leave a safe border on each side.

Dave  CBI 3 pilliars...social economic and political stability

Sah  With Sudani at the helm this is coming about.

Sparky  ... phone call ...  ...

Dave  Sah More about getting the Kurds on board imo

Dave  passing foreign investment laws....

Butterfly  Not going political here, but Iraq and Kurdistan reminds me of our D's and R's.

Dave  EXACTLY ......TRUE HURTS  that dialogue has not changed fer almost 20 yrs............IN IRAQ!

Dave Big oil ran away due to their disputes

butterfly  Government efforts to ease US sanctions on banks an expert in financial affairs, Mahmoud Dagher, confirmed that the Iraqi government and the Central Bank are dissatisfied with the nature of the US Treasury’s dealings with Iraqi banks, pointing out that there is an effort to lift the sanctions in light of a difficult political framework and a more difficult regional atmosphere.

Dagher said in a televised interview followed by Mawazine News, “The current government administration and the Central Bank are dissatisfied with the nature of the Treasury’s dealings with Iraqi banks and are making an effort within a difficult political framework and a more difficult regional atmosphere,” noting that the Iraqi ambassador in Washington visited the US Treasury and there is work to resolve or Reducing the severity of sanctions.

Regarding the public sector’s control over projects, Dagher stated, “The largest government bank possesses a capital of 130 billion dinars and controls all state deposits, while the smallest bank in the private sector possesses a capital of 300 billion dinars in light of a clear government restriction on the expansion of the sector’s work.” private".

The financial expert described the expansion of the public sector as “ownership, not performance,” noting that “the reason is due to the Ministry of Finance’s monopoly on the labor and investment market in the country.”

Dagher stated, “The public sector needs a sovereign fund, not a fund within the budget.” https://mawazin.net/Details.aspx?jimare=243415

Dave  :  {Central Bank are dissatisfied }

butterfly  Al-Sudani: The step of paying the salaries of Kurdistan employees directly from Baghdad means canceling the region Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Friday, the Kurdistan Regional Government’s commitment to the budget items during the past two months, indicating that paying the salaries of the region’s employees directly from Baghdad means canceling the region, its entity and its government.

Al-Sudani said in a televised interview followed by “Al-Maalouma” that, “If we want to say that Baghdad is the one that pays the salaries of Kurdistan employees, as there is no constitutional entity called the Kurdistan Region,” indicating that “if the region agrees to that step, we are ready to change the law and pay salaries.” employees directly.

He pointed out that "there is a misunderstanding about the powers of the region at the media, popular and elite levels, as the region has a constitution, parliament and government, and it receives 12% of the budget and has the right to distribute it among projects and the salaries of its employees."

https://mawazin.net/Details.aspx?jimare=243430

Dave  butterfly Kurds want 17 ish%

butterfly A Kurdish lawmaker calls on Baghdad to expedite the localization of the salaries of the region's employees Member of the Parliamentary Finance Committee, Jamal Ahmed, on Friday called on the federal government to expedite the completion of the nationalization of the salaries of the region’s employees.

Ahmed said in an interview followed by Mawazine News: “The region’s employees will not receive any salaries after the Federal Court’s decision without nationalization, stressing the need to expedite the resolution of the salary localization file during the current month.”

He added, "The government must accelerate the opening of bank branches in the region, noting that, "There is only a branch of the Iraqi Trade Bank."

He urged the government to "accelerate the provision of information and data on employees urgently in order to solve the issue of nationalization and resolve it completely.”

He explained . He added, “The Federal Court set broad guidelines and emphasized the importance of localizing the salaries of employees in the region at the Rafidain, Rasheed, and Iraqi government banks for trade.”

He continued, “The localization of salaries requires the governments of Baghdad and Erbil to exert their utmost efforts in order to end this file during the current month of March, in particular.” The court blocked the payment of any salaries to the region outside the framework of resettlement.” https://mawazin.net/Details.aspx?jimare=243442

Dave  with art 140 included

Dave  ERBIL court VS Baghdad court

Sah  Dave Has nothing to do with article 140. Kurdistan not sending oil for budget. Iraq not giving Kurdistan budget money and employees were not getting paid. Money paid to Kurdistan for employees went in higher ups pockets while Kurdistan was supposed to send oil. Iraq decided to pay the poor employees there not getting paid so set up digital payments right now to pay the employees direct and Kurdistan wants the money to go to them first. Where is the oil per day you promised for years. CBI digitized banks in Kurdistan and is working on all employees vetted and signed up for salaries.

Sah  All salaries there are going digital and paid by Iraq.

To Be Continued ………………….

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