Delta and KTFA Members Friday Afternoon 8-30-19

KTFA:

DELTA:   I DID ASK TBI BANK IF I CAN USE MASTER CARD ABROAD...

ANSWER FROM TBI ...

"you can use it in withdrawals from ATMs and direct purchase from the points of sale as well as in the Internet such as subscriptions and airline reservations, hotels, shopping sites and promotion in social networking pages in any country of the world except Brazil, Indonesia, Syria and Iran."

GodsServant:   Sounds International to me. How can you use it at a PR (program rate) Delta?

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AHWman:  Family, Frank maintains that the CBI has said that they will delete 3 zeros from the exchange rate, however the most recent articles that I’ve read from the CBI seem to clearly indicate that they intend to delete 3 zeros from the currency.  What am I missing?  Are we just hoping or assuming that they’re referring to the exchange rate, or do we actually have documentation specifically indicating such?

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Matthew1:   When they mention deleting the 3 000's in this manner they are meaning to lift 3 000's from the exchange rate but also taking the physical notes with 3 000's on them out of circulation.  That is why they were so insistent of trying to get the citizens over the years to come in to the bank and turn in their 3 ZERO notes.  The 25,000, 10,000, and 5,000 Dinar notes. 

 What happens to a currency when you have less of it in circulation?  The value goes up.  Supply and Demand in play again.  Iraq has been trying to lower the PHYSICAL NOTE count for years also.  The citizens are smarter than that.  That's why many citizens are still holding on to their larger 3 000  notes.  I hope this helps. 

The citizens have been promised purchasing power for years.  I pray we are there.  When the 3 ZEROS are lifted from the exchange rate the purchasing power will rise in Iraq.  But, Dinar holders like us will really benefit because we hold 3'000 notes that WE will be able to exchange at full international market value. 

 In Iraq a Dinar is a Dinar.  Outside of Iraq a Dinar could be IMO be trading as much as $3.21 to $3.91 very shortly after they raise the value by dropping the 3 000's from the exchange rate.  

Look at the CBI Website where it says that the current exchange rate to the dinar is 1,190 Dinars to every 1 US Dollar. That gives us the approximate current exchange rate of .00084 or 1/1190. 

When the 3 000's are lifted it very well may show on the CBI website $1.19, or .84.  (1190 minus 3 decimal points to the left and .00084 minus 3 decimal points to the right.) This is for the Iraq citizens in Country.  The international (OUR) Exchange Rate should be IMO be closer to the number mentioned above.  Many individuals get confused with how this works.

FRANK AND TEAMS have been teaching this too us for years now.  Many of us old timers finally get it.  I Think LOL.   I hope I have helped and not confused you even more.  I am glad to help. 

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Don961: from 2013 , my notes ... sorry , news site no longer running :

Said committee member Abdul Hussein al-Yasiri that “the process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank,” noting that “this project will lead to reducing the proportion of the national currency in circulation from four billion to one billion.”

He added that “the size will be reduced to a quarter and this will enhance the value and easy to transport,” noting that “fraud or manipulation of currency cash, it will be very difficult.”

Samson:  Talabani to an American delegation: the importance of re - start the application of Article 140

2019/8/29 23:45

The Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, on Thursday, in the city of Erbil, with a delegation from the US Consulate, and a Norwegian diplomatic delegation, topics of budget, oil, security, and relations between Erbil and Baghdad.

This came during a meeting with Talabani, the delegations separately, as the Vice President of the Kurdistan Regional Government discussed the issues of maintaining security and stability of the region after the emergence of dangers to the remnants of the remnants of the Islamic State in the border areas, stressing the importance of re-start Article 140 of the Iraqi constitution Disputed. 

Another focus of the meetings included highlighting the new steps of the KRG in solving problems and improving services, as well as explaining to the visiting delegations the extension and generalization of the reform process and developments in relations between Erbil and Baghdad.

The delegation of the US Consulate, along with Steven Vijn, the US Consul, included Andrew Linder, Political and Economic Affairs Officer at the Consulate, while the Norwegian delegation was headed by Norwegian Special Representative for Syria and Iraq, accompanied by Tony Allers, Norwegian Ambassador in Baghdad, and Rohr Huxdal, Deputy Consul. Senior Advisor to the Norwegian Embassy in Iraq.    LINK

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Samson:  China: There is 'effective communication' during trade negotiations with America

30th August, 2019
The Chinese and US trade negotiation teams are in active contact, the Chinese Foreign Ministry said during a press briefing in Beijing on Friday. 

US President Donald Trump said Thursday that his country and China were due to hold trade talks on Friday, without giving details.  Trump's comments followed indications from China that it would not immediately respond to the latest increase in US tariffs on Chinese goods, and expressed a willingness to focus on abolishing the new tariffs, to prevent further escalation in the trade war, according to Bloomberg. American News, Friday. 

"There are talks scheduled at a different level," Trump said when asked in a radio interview with Fox News whether there would be talks scheduled for September with China.

China and the United States are engaged in a tariff war involving billions of dollars of products from the two countries, threatening the entire bilateral trade, jeopardizing global growth.   LINK

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