IQD CALLS Chat Wednesday Night 3-11-20
IQD CALLS Wednesday Night 3-11-20
Doug_W Former minister: Iraqi dinar on the way to "float"
Doug_W https://www.ikhnews.com/index.php?page=article&id=210860
Wilder Baghdad – news The former minister, Amer Abdul-Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating, in light of the sharp decline in oil prices, while noting that employees should expect that during the coming days their salaries will be deducted.
"The continuation of monetary policies and the current government in the same contexts with the sharp decline in oil prices will be catastrophic, and the employee should expect to deduct his salary, perhaps for half, or spend part of his salary every two months," noting that "the next stage may witness a reduction in employee salaries, deductions and taxes to reduce the budget deficit." .
He added that "the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive. "
KRnMS Oh no, It’s time to kill some Iranian militia, rockets hit a base in Iraq that killed an American and two UK troops, HIT EM
Wilder He added, "We are afraid of a government decision to reduce the price of the dinar against the dollar to 1300 or 1350 in the event that the drop in oil prices is catastrophic. This float will cause the price of commodities to rise and burden the citizens. The state may use it to reduce the budget deficit."
Abdul-Jabbar continued, "The government's decision to place customs and other exemptions to remove visa amounts with some neighboring countries has harmed Iraq and contributed to preventing the entry of important revenues to the state," noting that "since 2018, he warned of low oil prices in 2020".
He pointed out that "the advisory base available to the Prime Minister is not qualified to deal with major crises, especially those related to low oil prices." Because it will take the place of others. "
And Abdul-Jabbar said, "The recent appointments made by the Prime Minister killed the state and burdened its finances, and there is a 200-square-meter department with 270 employees."
Baxter TRUMPS ADDRESS TO NATION IS AT 9 PM
Dave Wilder Yeah oil 20 bucks a barrel our value will tank too
chattels US announces 987 Corona cases & 29 have died. http://mobp.as/OG3Dq
Baxter Dave.. thought you would like to see this... https://www.gasbuddy.com/GasPrices/Ohio
KRnMS Hhmmm, will if they float the dinar now, when the price of oil rebounds, which it will, then the dinar will be free to float UP, instead of down, or should I say less dinar to the dollar
chattels In rocket attack on Taji Base in Iraq, 2 American & 1 British troops killed & 12 injured. http://mobp.as/Bv5Dq
KRnMS stay positive my friends, this situation will turn around soon
Dave Baxter almost pay that per liter!!!!
Baxter I know
Dave KRnMS did not know Dinar went Global
KRnMS china will get back to work and return to buying oil
Baxter was 1.74 yesterday
Baxter Dave...and that includes 55 cents tax a gallon
Dave at 20 bucks you should be able to fill your car for 15 bucks like in the old days
Baxter yep
KRnMS DAve I was just thinking in response to the post above about the dinar possibly going on a float
chattels After the failure of a PM candidate chosen by just two of the Shia Islamist leaders (Sadr & Amiri), the seven Shia Islamist parties that have dominated every major post since 2005 have now set up a Heptagonal Committee (7-sided) to pick a new one. I should add that the formation of this committee in no way contradicts existing efforts to keep Abd al-Mahdi in office, even if as an indefinite "caretaker" prime minister if need be. Indeed it could be a means toward that goal. https://twitter.com/UticaRisk
Dave KRnMS not floating no whhere in our world yet
KRnMS Wilder was posting Baghdad news....
Dave KRnMS not globally traded yet
Wilder KRnMS that was from Dougs link
Baxter Its hard to believe that the NCAA Basketball tournament will not have any fans...
KRnMS well yes I know that Dave, but Wilder’s post indicates that there might be a GOI decision in the near future to correct less revenue.... I’m not saying they will or won’t... just IF
chattels The child's father, activist Abdul Qudoos Qasim, was assassinated yesterday by unknown gunmen suspected to be government-backed militias. #IraqProtests "They think by killing my father the protests will end? They don't know I'll take his place!" https://twitter.com/RashaAlAqeedi
Young_SC I think you guys are taking that floating article out of context imo
Dave Waiting for that COUP.......!
Dave Young_SC yepp
Young_SC Did anyone pay attention to what i posted right after kap posted that article
Dave IRAQ buys its hydr from Iran too and does trade wsithmits neighbours
Young_SC Addressing the Auctions and the Exchange rate
Dave Auction is all they got
KRnMS What about the Auctions?
KRnMS Do you think Trump will retaliate?
Dave KRnMS way CBI makes money
KRnMS Yes we all know that DAVEY
Dave then?
Young_SC KRnMS scroll up and read it my brother
KRnMS but anyone buying dollars has to spend dinar, good way for the cbi to reduce the currency, burn it
KRnMS unless it is digital
KRnMS Young... was your post about the Auctions anything new?
Dave Not a digital auction
KRnMS That’s good in my opinion Dave
KRnMS they know who is getting the dollars, can track them
KRnMS as if they don’t already, corrupt as they are
chattels Kurdistan Democrat: 5 candidates for the position of Prime Minister-designate and their decision has not been decided yet
Wed 11, March 2020 https://ninanews.com/Website/News/Details?key=816943
Dave yes, to join these auctions need to be approved by CBI first........20-30 brokers do this only
KRnMS I think Trump should retaliate and in a big way, this nonsense must be dealt with, the Iranian terrorists will only respond to two things, totally broke and death
chattels House of Representatives: The deadline for nomination of the Prime Minister-designate ends next Sunday
Wed 11, March 2020 https://ninanews.com/Website/News/Details?key=816910
Dave chattels DEADLINES...........?????
chattels Baghdad / Nina / The House of Representatives announced that the constitutional deadline for the nomination of a new personality for the position of Prime Minister-designate, officially ends midnight next Sunday, corresponding to the fifteenth of the current month of March.
KRnMS should be fairly easy to determine who is launching these rockets, I’m sure we have the entire country under surveillance 24/7,
chattels Dave It is what the news is saying.
Dave chattels yes many deadlines for me already........
chattels I thought it was 15 days from March 2nd, but ..................
Dave DONE DONE DONE.....LOL
KRnMS I think the Iranians are about as broke as they could become, time to deal out some death to them
KRnMS I hate to be hawkish, but enough is enough
Dave in the coming session....
KRnMS Solemeini’s hit should have sent the message loud and clear
Dave KRnMS said that ten yrs ago???????
chattels Parliament’s Finance Committee confirmed today, Wednesday, that the emergency budget is limited to paying salaries and holding elections.
Member of the Committee, Deputy Muhammad Al-Daradji said that "Iraq needs an appropriate budget for the economic and health conditions the country is going through," noting that "the emergency budget is limited to paying the salaries of employees, which is the most important and creating the conditions for holding elections."
He added, "Even if the budget is announced on the 1st to 12th, the country will face difficulties due to the current circumstances."
The financial advisor to the Prime Minister, Mazhar Mohamed Saleh, had previously stressed the need to go in the short term to legislate an emergency budget, which provides financial sustainability at this stage and meets the necessary needs. http://www.alliraqnews.com/modules/news/article.php?storyid=87812
KRnMS yes Dave, no sense leaving our soldiers over here in harm’s way, they are safer on the hunt than sitting and waiting being an easy target
KRnMS Hit the terrorist Iranian militia, and protect the demonstrators
KRnMS show the Iraqis we truly are on their side for their liberty and freedom
Dave KRnMS Tell that to SADR!
KRnMS I think I’ll call Trump up and tell him, ok Sade too
chattels The caretaker head, Adel Abdul-Mahdi, considered, on Wednesday, that the collapse of oil prices does not mean that Iraq has become bankrupt.
Abdul-Mahdi said in a speech during his presidency of a meeting on the budget and low oil prices, that "Iraq faces great challenges, but it is capable of overcoming them," stressing that "the crises that are currently going on in Iraq call for concern, not panic or collapse."
KRnMS what’s Sadr”s number please
chattels And Abdul-Mahdi pointed out that "the collapse of oil prices does not mean that Iraq has become bankrupt," stressing that "the Iraqi budget needs to be reviewed."
He continued, "We tried to prepare a program that monitors the performance of institutions, but the government's resignation prevented that," explaining that "the central bank's position remains healthy in terms of its reserves and currency." http://www.alliraqnews.com/modules/news/article.php?storyid=87838
chattels "the central bank's position remains healthy in terms of its reserves and currency."
KRnMS alright, I’ve show my ignorance, I’ll get down off my soapbox and go get something productive done around here you guys have a great evening felt good to vent, thank ya’ll
xyz would or wood? 11 Mar 20, 04:22 PM @Kaperoni and wood have
chattels 2020 NCAA Tournament games to be played without fans in attendance due to coronavirus
There will be no fans allowed at the 2020 NCAA Tournament https://www.cbssports.com/college-basketball/news/2020-ncaa-tournament-games-to-be-played-without-fans-in-attendance-due-to-coronavirus/?ftag=SPM-16-10abi8e
KRnMS oh, I went to college with Iranians, they are not bad people,
KRnMS amazing what people will do in the name of religion
Dave chattels shut a school down today ....yet no confirmed case here
chattels "I have made the decision to conduct our upcoming championship events, including the Division I men's and women's basketball tournaments, with only essential staff and limited family attendance," NCAA President Mark Emmert in a statement. "
Dave KRnMS More to do about corruption i figure
KRnMS well I decided not to attend a karate tournament near New Orleans, corona is close by, hated to cow down to a virus ok , I’m out... later
Dave1 confirmed death from covid 89 yrs old in Canada....predisposed with another condition......
RodTahoe I applaud the NCAA, this is a tough decision to make but it is the right decision. Social distancing one of the primary ways to control the spread of this virus. Sadly there will be more, dramatic cancelling of events, activities and gatherings nationwide (needed world wide) in the next couple of weeks, devastating actions but is the right leadership we need right now.
Matt BIG Losses Market Summary https://www.iqdcalls.com/Markets.html
chattels ACC announces that conference’s tournament will remain open to fans; alters post-game media availability https://www.syracuse.com/orangebasketball/2020/03/acc-announces-that-conferences-tournament-will-remain-open-to-fans-alters-post-game-media-availability.html
chattels The ACC’s statement also indicated that the teams’ locker rooms, which are normally open to the media, would be closed following games.
Instead of allowing reporters into the locker room, two players from each team would be brought into an interview area. The media could also request other players as needed.
The Southeastern Conference, which is holding its tournament in Nashville this week, is adopting similar measures.
Baxter An Airline flight going across the country today... had to make an emergency landing in Denver... a passenger started coughing...and the rest of the people on the plane...went ballistics about the corona virus...and the pilot landed the plane in Denver... the passenger coughing... had some allergy issues...
Doug_W STUPID panic
xyz 3-11-2020 Intel Guru Frank26 ...the exchange rate is already in place.
xyz 3-11-2020 Intel Guru Footforward ... There is no stalling or kicking the can. For the first time in 15 years the can isn't getting kicked. Things are actually getting done.
xyz 3-11-2020 Newshound Guru Kaperoni ... dinar is traded globally.
xyz cited: https://www.dinarguru.com/
xyz Their word NOT Z's
Francis Albert Not sure where this "float" thing is coming from. All currencies go up and down based on people buying and selling them. I believe there's over 5 Trillion, (that's a T) bet on the FOREX market every DAY. And all currencies are basically pegged to the dollar whether they like it or not.
As the Iraqi Dinar rises in value after going International on FOREX, the money currency players on FOREX make on a rising Dinar comes from other traders, not Iraq.
Xyz Islamic Scholar Who Said Coronavirus Was "Allah's Punishment" Gets Coronavirus https://www.zerohedge.com/health/islamic-scholar-who-said-coronavirus-was-allahs-punishment-gets-coronavirus
xyz IRS May Delay April 15th Tax Deadline https://www.zerohedge.com/personal-finance/irs-may-delay-april-15th-tax-deadline
sandyf @Kaperoni sandyf There are 4-5 Middle East countries floating. Not all of them lost value, not to mention Egypt is not Iraq.
Yes I would agree Egypt is not Iraq, and neither are the other 3 middle east countries that are on a floating exchange rate mechanism, Israel,Turkey and Tunisia. Now tell me which one has significantly increased in value as a floating currency.
sandyf @Kaperoni sandyf no **** sandy. The auctions absolutely will go away once the CBI accepts IMF Article VIII. There will be little need once the dinar is traded globally.
Obviously you are quite entitled to take any view you choose, but on this point you are way off base. It is all about currency convertibility and IQD will only be a partially convertible for many years to come. Conversion to full convertibilty requires a history that can only be built up over a long period of time.
Unless there is a bilateral agreement only a fully convertible currency can be used in international trade. That being the case the majority of Iraq's revenue will be in foreign currency for many years yet, the so called auctions are the mechanism used to convert foreign currency to domestic currency, a mechanism used by many countries around the globe.
Forex trading is a separate issue altogether and once Iraq is under Art 8 it doe not become a certainty that forex traders will wish to handle it. The KWD is seen as an exotic currency with low volume trade, traders prefer stable floating currencies, the last thing they want is slow moving or volatile currencies.
xyz gurus demand
Kaperoni sandyf I have never stated that the Iraqi dinar would be globally accepted World Wide right away in fact if anyone is conservative it's me. I have stated over and over and over again that most banks just because Iraq would accept article 8 doesn't necessarily mean that they would deal in Iraq's currency.
Even though many gurus like to say that people will run to banks to cash out that is unlikely to be the case. That being said I think you need to read the IMF article for consultations with Iraq and you will find that they are encouraging the CBI to accept Article VIII to send a message to the world that they are open for business. Here is a quote...
Kaperoni "25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate. "
Kaperoni There is some typos in the first post but that is due to voice recognition oh well you'll get the gist of it
chattels In US response to attack on Taji Base in Iraq, US aircraft kill 18 Iraqi militia loyal to Iran in Albukamal area in Syria near Iraqi border. https://twitter.com/DavidMWitty1?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
chattels Iraqi government condemns rocket attack on Taji Base that killed 3 members of International Coalition in Iraq. This is a direct challenge to Iraqi security & a terrorist act. http://mobp.as/v56Dq