IQD CALLS Chat Wednesday 4-8-20
IQD CALLS Chat Wednesday 4-8-20
Chattels "the Iraqi forces need to be armed and equipped, but this does not mean that they still need training," explaining that "handing over bases and headquarters is proceeding according to a planned schedule between the Iraqi government and the international coalition." https://www.rudaw.net/arabic/middleeast/iraq/0704202018
Xyz Coronavirus Cases Pass 1.4 Million As Scientists Discover Reinfection Risk For Patients Much Higher Than Expected: https://www.zerohedge.com/geopolitical/coronavirus-cases-pass-14-million-scientists-discover-reinfection-risk-patients-much
xyz The Greatest Idiot... https://www.zerohedge.com/markets/greatest-idiot
“The greatest idiot is a man who thinks strong stock markets are an indication of economic health.“
Xyz Iraq surprises OPEC a day before its expected meeting
https://alforatnews.com/news/العراق-يفاجئ-أوبك-قبل-يوم-من-اجتماعها-المنتظر
Iraq surprises OPEC a day before its expected meeting
{Baghdad: Al Furat News} Iraq, members of the Organization of Petroleum Exporting Countries (OPEC) surprised about its crude production, two days before its expected meeting tomorrow, Thursday, to discuss a big reduction in oil and an attempt to restore global markets.
Oil rose again today, Wednesday, after a two-day drop, as it received support from hopes that a meeting between OPEC members and allied producers tomorrow will launch production cuts aimed at supporting prices that have retreated in light of the Corona virus pandemic.
A spokesman for the Oil Ministry, Ass Jihad, said in a press statement today, Wednesday, that "Iraq agreed during the previous meeting to reduce OPEC production to one and a half million, provided that its production is not compromised," stressing that "it is not possible to reduce production rates as a result of the current situation and the exceptional circumstance." That Iraq is going through. "
He pointed out that "Iraq has made extensive contacts with the oil ministers of OPEC member states and alliances with them from outside the organization in the past days in order to bring the points of view closer to reaching an agreement that will restore stability to the global oil market."
He pointed out that "it was agreed to hold a ministerial meeting {OPEC +} tomorrow, Thursday, which is an important step to reach an agreement that saves the oil market from the great decline."
Jihad stressed "the need for the main producing countries from outside (OPEC +), including the United States, Canada, Norway and others, to initiate a commitment to reduce production by them, which in turn is an important factor to control the oil surplus in global markets, and to restore the required stability and balance."
He stressed, "The decline in oil prices did not affect pro
Xyz Parliament is considering a television circuit to vote on the new government http://www.sotaliraq.com/2020/04/08/البرلمان-يفكر-بـ-الدائرة-التلفزيونية/
xyz ZIM UPDATE ... ZIM FLOATS for floaters ...
Zimbabwe to switch to managed float exchange rate in latest movehttps://www.reuters.com/article/zimbabwe-economy/update-2-zimbabwe-to-switch-to-managed-float-exchange-rate-in-latest-move-idUSL8N2B4346
HARARE , March 11 (Reuters) - Zimbabwe will adopt a “managed float” exchange rate regime, Finance Minister Mthuli Ncube said on Wednesday, abandoning strict control of foreign exchange by the central bank in the latest in a series of currency reforms that have so far failed.
The country, which has seen bouts of hyperinflation since 2008, has taken steps to ease its heavy reliance on the U.S. dollar, part of a raft of economic reforms by President Emmerson Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in 2017.
Last June it made its interim currency the country’s sole legal tender, ending a decade of dollarisation and taking a another step towards relaunching the Zimbabwean dollar.
The central bank has controlled the interbank forex trading market, which was introduced in February 2019.
The latest move will see banks take a bigger role in foreign currency trades, narrowing the gap with the unofficial market by allowing trade on a more transparent platform.
On Wednesday, the Zimabwe dollar was trading at 18.26 against the U.S. dollar on the official interbank market and at around 40 to the greenback on the black market.
“Zimbabwe has had no transparent and effective foreign exchange trading platform for a long time. Consequently, official rates have not been effectively determined, while a thriving parallel market has developed,” Finance Minister Ncube told reporters in Harare.
Dave i see chatter about Zim.......which means we aint rich yet?
Baxter BERNIE SANDERS..... HAS GIVEN UP
Dave have not heard much from him or Biden lately
Baxter HE LOST WISCONSIN BIG YESTERDAY
xyz Baxter thought results not out until Monday
Baxter Not according to the tv news.. lost by over 30%
Dave 3 people showed up to Vote?
Patty Baxter Did you hear Bernie's speech? Just sort of wonder what he - or Biden for that matter would have done for the pandemic? Some say Bernie may be a running mate for Biden. They're both millionaires.
Francis Albert I saw here a post from IMF wanting a gradual appreciation of the Iraqi Dinar, and thus the poster was dissing the whole idea of some "revaluation" Is he right or wrong? Both. What I believe is going to happen is the Dinar will go officially International on FOREX around $1.00 or so and then gradually go up from there. The rise will be contingent on supply and demand of traders betting it is going to go up or down....and the companies that will take Dinar as payment will drive up the value.
Chattels In Iraq, according to source, Adnan Zurfi gives up pursuit of being next PM in favor of Mustafa Kathimi. Agreement reached at home of Hadi Ameri, leader of Fatah Coalition. https://twitter.com/DavidMWitty1?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Baxter ONLY IN IRAQ
chattels According to Iraqi law, it is only possible to nominate Al-Kazemi if the al-Zarfi step down or the constitutional deadline for him to pass his government ends, as the deadline starts from the date of his assignment on March 16 and ends with the passage of 30 days. LINK
chattels LINK
chattels 1 Who is Mustafa Al-Kazemi, the new candidate for the presidency of the Government of Iraq?
Al Alam TV - 4/8/2020 5:51:27 PM - http://iraqnewsapp.com/1/Article/2244/193669222#.Xo5LyMhKjIU
Kaperoni Francis Albert If it goes on forex at $1 it will be a LOP first. With in excess of 42+ trillion dinar in circulation, there is no chance of a significant overnight RV. That is 2x times the worlds money supply and 3x Iraq's total mineral worth. Lmbo
Kaperoni And to answer the float questions, this was printed in the newspaper...
Kaperoni Floating the national currency Wed. 11 . Mar. 2020 Issue
It means leaving the national currency in order to determine its price In the free market, according to the forces of supply and demand,
The national currency anchors its real price with an effect
Market mechanisms within the framework of an organized free market
And a rank governed by incentives for production and consumption
Freedom of transactions, and the banking system plays in it
The debugger's role to market imbalances.
Devaluation
Devaluation of currency, or money, formally
As for gold or for currencies
Foreign. Rather, countries resort to a reduction
It was done in order to eliminate the persistent deficit in the balance
Their payments, because this cut makes imports
One of the other countries is more expensive and makes Its exports to these countries are cheaper, and that is what it is
It helps him to make his trade balance and make it
I can compete in the global markets. However A devaluation will not work at all, if it is The deficit in the country's balance of payments arising from Basic causes in the structure of the national economy. "
Double taxation:
"Money is subject to more than one tax, and it happens This is especially in relation to earnings earned Of the money that individuals invest (or do Companies) abroad, as it is often forced They are to pay the tax on these profits to The government of the country of their nationality
The government of the country whose profits were reaped on its soil at the same time." http://alsabaah.iq/uploads/products/pdf/file867270650088.pdf
chattels Mustafa Al-Kazemi” at the top of the list of the most prominent candidates who enjoy the acceptance of the Iraqi street, .................... http://iraqnewsapp.com/1/Article/2244/193669222#.Xo5LyMhKjIU
chattels Confirming Nina's news, Al-Zrafi will announce his concession tomorrow, and he will be granted a position in Al-Kazemi’s government
Wednesday 08, April 2020 https://ninanews.com/Website/News/Details?key=822742
xyz AND YES THIS WAS PRINTED ON A SITE :popcorn
kaperoni: It has a nominal one-time fee of $7.95. This is a great price to have piece of mind that you will be notified no matter where you are or what you are doing. https://dinarvets.com/forums/index.php?/topic/111678-kaperoni-chat-tick-tock-the-clock-is-ticking-da-chat-room-3272012/
chattels Mahmoud Othman to / Nina /: Iraq lacks statesmen that lead the country to safety and Al-Kazemi will not pass through parliament if he is assigned after the apology of al-Zarfi and Abdul-Mahdi will remain in his post
Wednesday 08, April 2020 https://ninanews.com/Website/News/Details?key=822738
Sandyf @Kaperoni Direct from the IMF...
The IMF do not have a crystal ball, that is why they use terms like "which would make possible" and " could allow". You are wrong to make out the terms are definitive and some form of instruction.
You also distort the context in the use of these statements.
“a rapidly expanding economy creates a rapidly appreciating exchange rate”, which refers to a hypothosis and not a result of any change in the exchange rate mechanism, one does not guarantee the other.
Also
"However, many long term investors in emerging market currencies, for example, have been able to benefit from the appreciation of those currencies"
You should explain in simple terms what currency,length of time and what benefit the long term investors actually received,eg 1%, 100% etc. The term "benefit" is another undefined concept.
For long enough you have pushed the idea that flotation meant appreciation with some ridiculous forecasts at times, reality is that the IQD is heading for devaluation in one way or another and it will be many years before there is any sign of appreciation.
Kaperoni sandyf The context and references made by the IMF are very clear. They clearly state that Iraq should move to a more "flexible exchange rate policy."
They also (the IMF) states that doing so "could allow a predictable and gradual appreciation of the nominal exchange rate>" and Finally, the IMF states "triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation."
These are there words not mine and therefore I say it again, I am only the fact finder, I presented this information in a published report back in December 2013. I have no responsibility to explain it further or defend it. It is simply a statement issued by the IMF to Iraq. And by all context is truthful and appropriate. It is what people should be considering over the BS spewed daily from the gurus.
Kaperoni And it certainly is more appropriate since we are reading at least weekly (at least four articles) over the last month or so that efforts are being made to float the dinar as published in Iraqi media.
Kaperoni sandyf And finally, Sandy keeps wanting to argue this out with me when in reality, Sandy should take his opinion to the IMF who authored such direction to Iraq.
Kaperoni sandyf Oh and one more thing, Sandy wants me to describe the "length of time" apparently for the appreciation. That is not for me to decided or convey. That is documented under the defintion of the Balassa-Samuelson effect which is as you stated..a hypothesis.
But that hypothesis is clearly defined as: ”Balassa–Samuelson (BS) hypothesis implies that countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.”
And documented in research paper...“In 1964, academics Bela Balassa, a Hungarian economist, and Paul Samuelson, a Nobel-Laureate economist, independently observed that countries with higher levels of productivity growth experienced rapidly rising real wages and so appreciating real exchange rates.
Academic studies since have suggested the picture is not as simple as Mr Balassa and Mr Samuelson first thought and that many other factors can also influence the model. However, many long term investors in emerging market currencies, for example, have been able to benefit from the appreciation of those currencies which is arguably due to the Balassa-Samuelson effect.”
Kaperoni Though I have the link, the research paper appears gone. http://lexicon.ft.com/term?term=Balassa_Samuelson-effect
Chattels Caretaker Prime Minister Adel Abdul Mahdi returned from his voluntary leave March 23 to follow through on the government's plan to fight the virus.
Read more: https://www.al-monitor.com/pulse/originals/2020/03/iraq-pmu-coronavirus-covid19.html#ixzz6J5UkOZhE
chattels " Adel Abdul Mahdi returned from his voluntary leave ............"
chattels Interesting phraseology to describe the posture of a " resigned " Prime Minister, eh ?
Chattels Important legal/constitutional point re emergence of intelligence chief Mustafa al-Kazimi as possible PM consensus candidate in #Iraq: Current PM designate Zurfi cannot be just "changed", he needs to either resign the title, or be voted down in parliament https://twitter.com/reidarvisser
chattels "There are two ways to replace the Prime Minister-designate, Adnan al-Zarfi," Either said. "Either the House of Representatives refuses to give confidence to the ministerial cabinet that it will provide, or that Al-Zarfi personally relinquishes the mandate." https://ninanews.com/Website/News/Details?Key=822672
Chattels A news report earlier, albeit a quote from an Al-Fateh member, says that Zurfi has agreed to withdraw.
chattels Confirming Nina's news, Al-Zrafi will announce his concession tomorrow, and he will be granted a position in Al-Kazemi’s government https://ninanews.com/Website/News/Details?key=822742
Chattels Iraqi political parties rally around spy chief as preferred PM https://www.rudaw.net/english/middleeast/iraq/080420201
chattels PM-designate Zurfi to Rudaw: Iraq and Kurdistan Region must work ‘with one spirit’ https://www.rudaw.net/english/interview/08042020
chattels We shall see what tomorrow brings. Have a fine evening all.
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