Zig’s Place Chat and News Saturday AM 6-5-21

Zig’s Place Chat and News Saturday AM 6-5-21
Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   In the document.. a parliamentary request to host the governor of the Central Bank

Saturday 05 June 2021 ......A member of the Parliamentary Finance Committee, representing the Alliance / Sairoon / Majda Al-Tamimi, submitted a parliamentary request to host the Governor of the Central Bank, Mustafa Ghaleb, to discuss the reasons for the recent rise in the dollar exchange rate.

butterfly   Al-Rafidain cancels the requirement to witness identification for citizens wishing to open accounts

Saturday 05 June 2021 10:42 ........Al-Rafidain Bank issued new instructions to facilitate procedures for citizens wishing to open savings and current accounts.

The bank's media office said in a statement: "The bank has canceled the requirement to witness identification for customers who wish to open current accounts, with the obligation to submit one supporting document when opening savings and current accounts."

He explained: "The unified card dispenses with other documents, and there is no need to wait for the validity of its issuance, while the civil status identity, passport, residence card, or housing support for those who have not been issued a unified card."

butterfly   The rise in the exchange rate of the dollar in banking shops in Baghdad

Saturday 05 June 2021 12:29....................The dollar exchange rate recorded, today, Saturday, an increase in banking shops in Baghdad.

And the selling price in banking shops in the local markets was 150,000 dinars, and the purchase price was 149,000 dinars for every $100.

BobbyC   +10 every step of the way from the Auctions to the Street which ends in a +30. Way to go Iraq

BobbyC   My bad nowdays it's +40 depending on where you are in Iraq

BobbyC   Will Iraq pass a Recovery Law and what will they do with the influx of USD?

Dave  BobbyC +40........a whole ..027 of a cent.....?  oops of a buck........,,,

BobbyC  To us. To Iraqis it's a loss of purchasing power. Denominations mean everything in this

Dave  BobbyC commonly referred to as PIP

BobbyC   Yeah that was ahuge jump in devaluation. Just think the IMF proposed 1500

BobbyC   Just shows ya what a mess Iraq is in. Some think a revalue will solve all their problems when it would actually be monetary suicide

Dave   alot of saber rattling over nodda ....the local markets was 150,000 dinars, and the purchase price was 149,000 dinars for every $100.

BobbyC   I think the only one's that mention a revalue in regards to the IQD are the absolutely out of touch with reality (Recaps and Guru)

Dave   I dont touch Gurus....no idea

BobbyC   And the CBI sells for 1460 Go figure

BobbyC   I don't either but a majority in this do.

Dave   we got hit harder.......with the costs of everything

BobbyC   Same here in Texas as far as goods are concerned

Dave   Pandemic.......

BobbyC   Yep and once this pandemic is over, that's when we'll see oil higher because the markets need it   WTI is at 60 and Brent broke 70     69 oops     So I filled up today

Dave   Big difference in their light sweet crude and our muck  … 2 dollars/barrel vs as much as 28 or more to refine

BobbyC  Yep depends on what platform Iraq sales their oil and when those contracts are signed. If Iraq could allow the HCL, they'd be swimming in oil revenue. Ofc then we're back to what happens to all that revenue

BobbyC   They went from 7 billion a month to below 3 for a year yet kept their expenditures high

Dave   BobbyC bitumin is horrible.....vs their light sweet crude........they are floating on it and dont not have to drill a mile or more to get to it

Dave   actaully glad they axed that keystone pipline

BobbyC   Why's that as far as the pipeline?

BobbyC   Iraq does indeed have the lightest/sweetest oil and upstream is not costly at all

Dave  Politics........Have much better oil quality in vast reserves..........just sitting on it all.........piping only that naturally occurring muck taht sits on the

BobbyC   I look at like this. Their reasoning was environmental, a risk within the industry that has a pretty good track record, yet they now transport that and the emissions are even worse lol

Dave   surface...

BobbyC   Imagine when Brent was at 100 pbl and Iraq still didn't revalue lol.

Dave   and fell to minus numbers

Dave   Iraq has some of the best oil quality in the world......easy to refine much GREENER!!!!

BobbyC   The only way Iraq has a chance at a revalue is a diverse economy, a middle income establishment and an answer to notes/value in circulation

Dave   BobbyC Listen to Kap too much?

BobbyC   A majority in this got in because of Iraq's oil

Dave   ...and going global with its currency following the Delete 3 Zeros

BobbyC   I like most of Kap. I bought into this when Iraq had 4 trillion in circulation and invested very litte. I was always a 3 possibility investor and when one of those possibilities involved a re denomination, I was happy with what I purchased

Dave   Currency auctions raking in alot of Dinar.......since Govt workers getting paid digitally......

Dave   3-4 trillion IQD/month   These are CASH sales at the auction

BobbyC  The E Dinar was the best idea Iraq ever did. While it's good, just because it's an E Dinar, does not change the value of those notes

Dave   nope ...pulls the Dinar in though....

BobbyC   Auctions....Again if the CBI was independent, they'd step in a little further and stop the after affect of those Auctions. There's the undeveloped Banking System everyone talks about

Dave   CBI could also simply sitting on the excess notes and not be putting them into circualion....

BobbyC   Pulls em in and gets them a step closer to a less dependent cash society. I know I carry very little cash as I used to

BobbyC   I agree and yet the value never changes. Unless they devalue   :)

Dave   3-4 trillion iqd/month........Kaps note count from yrs ago has remained at 30ish trillion in mattresss

BobbyC   Look at their 2021 Budget......129 trillion with a deficit of 28 trillion.     Now couple that with their reports of 50 Trillion outside the Banking System…   Those are the numbers that scare me if everyone's hoping for a revalue

Dave  BobbyC look at that that 150 billion usd that the COI is looking at?  ....and thats the start?   50 Trillion....... across the planet...heard USA Reserve had some........ Other foreign banks will hold them in reserve for upto to 10 yrs before redeeming them back to Iraq… reports of 50.T.......by who and where tells volumes.....doubt that many in mattresses

BobbyC   When it comes from the Economic Advisor, who's held that position thru a few PM's, I tend to listen

BobbyC   Just something to think about when buying into this

Dave  BobbyC Listen to CBI.......

BobbyC   As far as the US having the IQD in Reserve? You can go to the UST website and it shows foreign currency's held in Reserve

Dave   not when its deemed exotic......?  Bush took a stack.......?

Zig   Old Guru Rumor: The Dinar that the US Treasury holds will eventually pay for our huge accumulating debt ...lol

Dave   Zig Bush take IQD???

BobbyC   I would've liked for the CBI to dispute those numbers, but they didn't

Zig   Dave : Who knows

Dave   Bush?

BobbyC   Most currencies are considered exotic

BobbyC  I believe you have your Majors, SDR Basket, that aren't but don't quote me on that lol

Dave  I keep it simple.....USD remains King

BobbyC   Ofc you have to be on the international stage/FOREX to be considered exotic .. Remanis King for now. Many are attacking it

Dave   BobbyC can get over 160 different currencies here from my bank..........no IQD.....

BobbyC    So John Rahm is leading the Memorial at -18, came in close contact with covid, tested positive, and not maybe has to withdraw. Could lose over a million. Geeeez

BobbyC   Hey you can get IQD on E Bay lol That's scary

Dave   BobbyC IQD not sold at Any bank in Canada

BobbyC   Very few do recognize it and the one's that do make money selling it.

BobbyC   Most outside publications who discuss this phenomenon, actually address the amount in circulation and Iraq being able to even afford a straigh up revalue. Most countries want a weak currency

Dave   imports or exports.....depends what you sell....oil or rice?

BobbyC   that's true one has a higher value but when it comes to trade agreements, a weak currency helps both country's

Dave   trade agreements.....competing sectors........

BobbyC   If we ever see the IQD in trade agreements, aside from their side deal with Iran, we'll know the end game

Dave   waiting to see it on the forex ......  on the news......we will see or not

BobbyC   I agree

Dave   aint going to be a secret    unless on signed a NDA....

BobbyC   Yeah I need to sign mine I feel left out. I missed out on these Tiers

Dave   missed that boat plenty of times already

BobbyC   People who believe in that should sell their IQD now and play Bingo. No offense to Bingo players

Dave  nda only good fer 2 yrs

Dave   invested what i could afford to lose.....

BobbyC   100% but I hate that word lose lol

Dave   slightly ahead......now.....

BobbyC   Depends on what you bought in for and what the dealers are buying for right?

Dave   yes....

Dave   https://www.ebay.ca/sch/i.html?_from=R40&_trksid=p2380057.m570.l2632&_nkw=iraqi+dinar&_sacat=3411

Dave   wow......i am way up.........  paid 700/million   up 500......and they call this scam......

Dave   only fer us knuckleheads that pay for it.......feeding the vdream in getting really rich.......one day......

BobbyC   500? Who's buying lol  Safe Dinar buys a million for 700 something

BobbyC   The scam part comes in those damn reserves some bought into. We have a currency that has value

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