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 ………………….
"THE RV AT OFFICIAL RATE OF $3.22 OF THE IQD WOILD DRAMATICALLU HELP THE US WITH THEIR DEBT" BY MILITIAMAN, 10 MARCH
Militia Man
Hypothetically the United States has lets say 5 to 10 trillion dinar. We have a nation debt of $30+ trillion. If the US is sitting on 5 to 10 trillion dinar, if they [Iraq] come back to a previous era which they say they are going to do...they talk about about $3.22...
If they apply the Real Effective Exchange Rate to the Iraqi dinar based off their natural resources, not based off a punishment rate from the war era, not just based off of oil. Iraq's $3.22 was based off primarily oil. Now it's a different situation.. . [This would dramatically help the US with their debt] Iraq has a lot of gold...oil...religious tourism...
"YES... IT'S CALLED THE MONETARY REFORM" BY FRANK26, 10 MARCH
KTFA
FRANK26: "YES... IT'S CALLED THE MONETARY REFORM"..............F26
Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets
3/4/2024
Goran Abdullah - Baghdad
No money, high prices: Kurdistan’s bazaars quiet ahead of Ramadan, 10 MARCH
No money, high prices: Kurdistan’s bazaars quiet ahead of Ramadan
Kurdistan Region’s bazaars are quiet ahead of Ramadan because of delays in payments of government salaries and increased prices for certain essential goods.
“There is no salary, nothing,” Iskandar Rahim, an Erbil resident, told Rudaw’s Horvan Rafat on Friday. “Everything has become so expensive and people do not dare to go to the market.”
Sdiq Ahmad, another resident of Erbil, commented on how quiet the market was when he went to do some shopping.
"If they have salaries, people would buy necessities such as meat, chicken, and other home necessities, but now people cannot afford them,” he said. “People are borrowing money for the month of Ramadan.”
Market vendors say that government delays in distributing salaries have slowed their business and many goods are priced beyond the reach of their customers.
Committees from Erbil’s governor’s office are actively overseeing market activity and plan to expand their monitoring during the holy month of Ramadan to more effectively curb price hikes. Shops are usually busy during Ramadan as people buy special foods for the holy month and clothing ahead of Eid.
“A kilogram of meat has gone up to 20,000 [Iraqi dinars]. It is very expensive,” said Gaylan Maghdid, a butcher.
It has been 40 days since the Kurdistan Regional Government (KRG) last distributed salaries for its civil servants and pensioners.
The government has failed to pay its civil servants on time and in full for nearly a decade. The situation worsened over the past year after Turkey suspended the flow of Kurdish crude oil through the Iraq-Turkey pipeline to its Ceyhan port in March following a ruling from a Paris arbitration court, causing the KRG billions of dollars in losses.
Without the funds to meet its payroll, the KRG has turned to Baghdad, which is sending Erbil 618 billion dinars monthly. ink
"MISSION IS BEING ACCOMPLISHED BY THE CBI... FOR THE MONETARY REFORM. BY FRANK26, 10 MARCH
KTFA
FRANK26: "MISSION IS BEING ACCOMPLISHED BY THE CBI... FOR THE MONETARY REFORM..F26
A noticeable decline in dollar prices... a morning list for 11 governorates
3/4/2024
Baghdad
Today, Monday (March 4, 2024), the exchange rates of the dollar against the dinar recorded a noticeable decline on the main stock exchanges in the capital, Baghdad, and the provinces.
The "Baghdad Today" correspondent said, "The price of the dollar on the main stock exchange in the capital, Baghdad, reached 149,500 dinars today, after it recorded 151,100 dinars per 100 dollars yesterday."
Below is a list of exchange rates for 10 governorates:
$100 = 149,700 Basra
$100 = 149,500 Erbil
$100 = 149,800 Sulaymaniyah
$100 = 149,900 Karbala
$100 = 149,800 Kirkuk
$100 = 149,900 Babylon
$100 = 149,650 Dohuk
$100 = 149,900 Mosul
$100 = 149,900 Najaf
$100 = 149,700 with penalty
LINK
"RV UPDATE" BY BRUCE, 20 MAY
Bruce [WiserNow] We know that...Iraq paid back the IMF – a loan that they got in 2003...that's when the new 25 10,000 5000 1000...
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TEXAS SNAKE Texas Snake, [03/16/2024, 10:17:58 a. m.]: Texas Snake, please forgive me I know this is long, but I’ve been waiting for two ye...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...