IQD CALLS Chat Friday Afternoon 10-10-19
IQD CALLS Chat Friday Afternoon 10-10-19
Larrykn Repercussions of Internet interruption .. Losses in millions of dollars a day
Economy , 2019/10/11 Baghdad - Iraq today: The ICT Platform released a statement on the economic implications of Internet service interruption in Iraq, urging the government to refrain from interrupting it and finding new technology solutions.
The Center said in its statement that the procedures of interrupting the Internet service in Iraq have had negative repercussions on more than one level. ”
Although there are no exact figures for Iraqi economic losses due to Internet interruption, they are estimated to be in the millions of dollars a day according to COST figures.
He pointed out that the Internet in Iraq is negatively affecting many economic and commercial sectors, including the subject of more than three million salaries. K-Card smart cards for their salaries, as well as about 1 million IDPs receiving government subsidies in the same way.
Many remittance companies, travel and tourism companies, and the retail sector, in addition to the damage of the business of small companies and individuals who rely on social media to promote and market their products. LINK
larrykn Over 60,000 Syrian Kurds Displaced by Turkish Offensive: Monitor
More than 60,000 Syrian Kurdish civilians have escaped their homes during the first 36 hours of a massive cross-border operation by the Turkish army and Ankara-backed ISIS a monitoring group said.
Turkey announced the operation on Wednesday, which aims at wiping out the Syrian Kurdish People’s Protection Units (YPG) from the border areas.
“Displacement continues from different parts of the eastern Euphrates region due to the Turkish military operation in the area, where the Syrian Observatory monitored the rise of the number of displaced to more than 60 thousand civilians within less than 36 hours, for fear of the Turkish military operation, as Al-Darbasiyah city and Ras Al-Ain city are almost empty of its inhabitants,” the London-based Syrian Observatory for Human Rights said.
“Turkish forces bombed areas around the villages of Zuhairiyah and Jam Sharaf in the countryside of al-Malikiyah. Also, the SDF shot down a reconnaissance aircraft in the skies of “Qasr Deep” in Malikiyah countryside,” the report provided more details. https://www.thebaghdadpost.com/en/Story/44247/Over-60-000-Syrian-Kurds-Displaced-by-Turkish-Offensive-Monitor
larrykn Turkish warplanes begin bombing northeast Syria
Turkish warplanes and artillery have begun shelling Syria’s predominantly Kurdish northeastern town of Serekaniye, Mustafa Bali, the spokesperson of the Syrian Democratic Forces (SDF), said on Wednesday.
A source in Serekaniye told The Baghdad Post that four warplanes are hovering over the town, and there is heavy artillery shelling the silos near the border.
According to local media, the Turkish warplanes are bombarding Safeh village, located five kilometers on the western outskirts of Serekaniye. It added that Turkish artillery shelled the Mahatta and Malla Darwish main streets in Serekaniye.
Waves of people in Serekaniye began to leave their homes on Wednesday to flee the Turkish shelling. https://www.thebaghdadpost.com/en/Story/44224/Turkish-warplanes-begin-bombing-northeast-Syria
larrykn Halbousi says situations in Iraq 'dangerous'
Parliament Speaker Mohamed al-Halbousi has described the ongoing situations in Iraq as ‘dangerous’, amid protests that swept through the capital Baghdad and other provinces.
During the parliament session, Halbousi said “We are now at the crossroads. Either to be with the people who demand their rights, or stand with our interests.”
The parliament called for freezing the provincial councils and considering the victims of the protests as martyrs. https://www.thebaghdadpost.com/en/Story/44221/Halbousi-says-situations-in-Iraq-dangerous
Matt Dow Jones Industrial Average INDEXDJX: .DJI 26,947.75 +451.08 (1.70%)^ Oct 11, 11:23 AM EDT ·
Francis Albert There are more "loose particles" that are ostensibly good arguments why Kap's opinion that 40 Trillion Dinar "out there" make it impossible for any significant up tick in IQD is not a show stopper. The main one is the argument I have posted that oil credits, which are not just guru non sense IMO, will soak up a bunch of Dollars/Dinar. Also 3 zero notes will have a 10 year shelf life and banks can manipulate how quickly they cash in.
Francis Albert Here's the thing. IMO Banks, all big banks that are owned by the Dollar Inc. Boys where at the top of the food chain to even do this "war" with Iraq. They drive the agenda for most things.
Remember these are the very same that run the IMF, World Bank, BIS and U.N. And the people they meet and sit with are also big players in defense etc. The people who love war.
Francis Albert So, on the Dinar and outstanding Dinar IMO the big banks want Iraq to succeed because they are in there with bases, protecting their oil and they are salivating over fertile land and water in Iraq.
They will do all they can to keep Iraq peaceful and yes, happy and financially successful. So, since banks just create money, money is not an issue for them. It is about control and protecting Dollar Inc.
Kaperoni I'm not worried about the dinar that's outside Iraq. Economic advisor Saleh stated many years ago that he wanted the dinar to be held as a hard currency around the world for a very long time.
So I don't think the dinar that's outside Iraq is ever planning to go back it'll end up in central banks. What concerns me is the abundance of dinar that's outside the Iraqi banking system that's still in Iraq, held and mattresses, under couches Etc that is currency the central bank is responsible for and it is in the trillions. Which makes any significant RV impossible.
Francis Albert Kap may be close to the 40 Trillion outstanding, I don't know..would not be surprised if that's accurate. But, you can't look at something in a vacuum. Who owns the notes? What is their agenda? It is like looking at an organ of the body without looking at the whole person
Francis Albert Ah...Kap...we finally meet. Hello Sir. Ah, I hear you. So, you are saying they could be Trillions upon trillions in Iraq stashed?
Kaperoni Not to mention an RV is Guru speak it's not how central banks do business and it's not monetary policy. It circumvents all of the tools that central banks use to control the stability of the financial system and would send the entire Financial system into chaos if any kind of significant RV occurred.
The IMF is very clear on floating currency as a tool to offset pressure created by significant investment. Egypt flooded their currency about a year-and-a-half ago under the guidance of the IMF and an article yesterday talked about how their GDP in Egypt is up to 6% as foreign investment continues to come in the result will be significant including the appreciation of their currency they are a good example even though they don't have anywhere near the oil Iraq has
Kaperoni I posted an article in here a couple of days ago that specifically had the numbers from the Central Bank of Iraq in excessive 40 trillion outside the banking system I don't know how much of that is in Iraq versus outside of Iraq but it clearly states it's outside the banking system
Francis Albert Agree, the idea of a bump from .00086 to $3.50 is not going to happen, because of what you just said. Have they not been sucking as many 000 notes out the last five years inside iraq? How can we conjecture that there's "too" many? We just don't know
Francis Albert Agree. and 40 Trillion is a reasonable number at the current value
Kaperoni Unfortunately this is just kind of a drive-by visit cuz I've got things to do but I'll try to come back later. The most important thing is that a significant RV is not only not possible oh, it's just not what central banks do because it contradicts the tools that they use control inflationary pressure.
Not to mention commissions Etc by buying and selling. Iraq is clearly working towards having an fx Market oh, there's been several articles in recent months about the progress being made that in itself should tell everyone that there won't be any significant RV.
Francis Albert So, what if the delete zeros on the exchange rate to say .87 and let traders trade it up from there?
Baxter I would not rule out the idea of oil credits either....especially since what went on with CHina just yesterday... these so called oil credits..are not immediate payment.. these oil credits will not be due for at least ten years.. maybe even up to 20...
Kaperoni Take care. Ill come back later
Francis Albert Yes Sir..indeed. To be continued....
Francis Albert Well, and that adds to my argument that these Countries will in some way make it doable for Iraq to deal with some increase. What's the point of bankrupting them?
Francis Albert It is possible that inside Iraq they will make up their own rules on cashing out 25,000 IQD notes. They have to have a workable plan for doing all the things they've done the past few years, all the announcements about the changes coming. They have a plan that will work for them.
Francis Albert Central Banks and governments make up new rule all the time. in 1933, Roosevelt says give me your gold ..it's against the law to own gold. We'll give you $20 in paper notes for your gold.
And at the same time people outside the Country cold exchange dollars for gold, up until Nixon closed the gold window in 1971
Francis Albert People brought in their gold, got $20 in paper. And some months later, they raised the price of gold to $35. Priceless.
Doug_W @Baxter what a great day here mid 80's light breeze NO humid full sun
biff Kap I have investments in Iraq ( bank accounts ISX Brokerage Accounts) how this affect me with the 40 trillon in circulation. You seem to have knowledge about this subject. ;c-ball ;$$$
Zig @Sam: Hi....any comments about above discussion??
Sam I Am Zig Hi. As you might imagine I disagree with Kap
Sam I Am and most everybody else here
Zig Sam I Am : What about what Francis Albert posted??
Zig Oil Credits??
Sam I Am Zig Including PA
Zig Francis Albert : Sam I Am is a well-known person in the Dinar Community who does not think this is a worthwhile venture......
Sam I Am The idea of revaluing to 85 cents is slightly less absurd than revaluing to $3
biff xyz I hope so
Sam I Am it's like saying you can flap your arms and fly to the moon as opposed to flapping your arms and flying to Mars