Zig’s Place Chat and News Tuesday PM 6-1-21
Zig’s Place Chat and News Tuesday PM 6-1-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
butterfly World Bank: Our portfolio in Iraq includes two billion dollars
Tue 01, Jun 2021 19:47......The head of the World Bank office in Iraq, Ramzi Noman, confirmed that the bank's plans in Iraq aim to implement many projects in various sectors, noting: "The bank's portfolio in Iraq includes two billion dollars."
Noman said in a press statement, "The World Bank has in Iraq a portfolio of two billion dollars covering different sectors." He added, "Therefore, we consider ourselves essential partners" with Iraq in achieving economic development.
The head of the World Bank office in Iraq indicated that "the bank's policy is not limited to consulting and financing, but includes the implementation of various projects in the sectors of electricity, transportation, health" and other projects.
And the World Bank held in Baghdad today a conference with the participation of Iraqi officials from various sectors to discuss ways to develop the Iraqi economy and support groups of society.
butterfly UAE Ambassador: We granted 200 multiple annual visas, open to Iraqi businessmen
Tuesday 01 June 2021 20:16 ......The UAE ambassador in Baghdad announced the granting of 200 multiple annual visas open to Iraqi businessmen.
A statement by the Federation of Iraqi Chambers of Commerce said that "Ambassador Salem Issa Al-Zaabi, ambassador of the United Arab Emirates, visited the head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, to discuss bilateral relations."
Al-Zaabi stressed, "We are confident of Iraq's desire to strengthen these ties...and activate the movement of goods and commodities, and we are fully prepared and cooperate in strengthening trade and economic relations between our two countries and creating a fertile ground for discussing all files and exchanging goods and merchandise."
For his part, Abdul Razzaq Al-Zuhairi said, "The visit confirms that the atmosphere is ripe and that there is a fertile environment for the entry of Emirati companies known for their sobriety and professionalism...especially as we aspire to hold a large Iraqi-Emirati forum that includes senior businessmen."
He added, "The ambassador informed me that there are 200 open multiple annual visas granted to Iraqi businessmen, and it is a great gain that Iraq opens up to the Arab surroundings and the brothers take the initiative to open new horizons with us, especially since Iraq is a country rich in human wealth and economic potential."
He continued, "We hope that the countries of the Arab and regional surroundings will have the desire to invest, work and convey the positive and bright image of Iraq... and that our role as the Federation of Iraqi Chambers of Commerce is to strive to maintain and strengthen the momentum of these relations."
butterfly The Council of Ministers decides to allocate 500 billion dinars to support the ration card
Tuesday 01 June 2021 21:59..........The Council of Ministers decided that the Ministry of Finance would allocate 500 billion dinars to support the ration card.
butterfly Planning: Inclusion of 8 new governorates in the Social Fund for Development projects
Tuesday 01 June 2021 20:32...........The Ministry of Planning announced the launch of social mobilization operations in 8 governorates within the second package of projects of the Social Fund for Development.
The director of the fund, Najla Ali Murad, said, "The new governorates that have been included are 8 governorates, within two groups. The first group includes the governorates (Anbar, Dhi Qar, Diwaniyah, and Nineveh), in which lists are being prepared for the projects that were selected from the residents of the villages covered in coordination with Local governments, and the second group includes the governorates (Maysan, Babil, Baghdad, and Sulaymaniyah),
in addition to the inclusion of new villages in the governorates (Al-Muthanna, Salah al-Din and Dohuk) that were previously included in the first phase of the Fund’s projects, explaining: “Field teams have been formed In the covered governorates, it is composed of the planning and statistics departments affiliated to the Ministry of Planning in each governorate.
And she confirmed, "These teams began their field visits to the villages that were selected, starting from the first of June, and they met the local residents, and these meetings witnessed a detailed explanation of the Fund's tasks, the project selection mechanism, and the role of the villagers in choosing the project."
butterfly **A former deputy warns of a government tendency to raise the dollar exchange rate: The dinar will blow up! 09:47 – 01/06/2021
25k Iraqi Dinar notesBaghdad – Mawazine News, former MP Sabah Al-Tamimi commented, on Tuesday, on the news circulating about the current government’s direction to change the exchange rate of the US dollar against the Iraqi dinar.
Al-Tamimi said in a statement that Mawazine News received a copy of it, “The change in the exchange rate of the hard currency against the national currency, again during this period, will lead to the devaluation of the Iraqi dinar.”
Al-Tamimi warned of the danger that “this new financial approach will lead to an economic crisis that is many times worse than the Trinity crisis that struck Iraq last year.”
She indicated that “the continued spread of this news, which is a real intention of the government, will lead to the collapse of the Iraqi dinar, and the rise in the dollar exchange rate to above the barrier of 200 thousand dinars.” Ended 29/A 4 mawazin.net
butterfly CHECK THE ARTICLE ABOVE................
butterfly The government begins preparing the 2022 budget.. What about the dollar exchange rate?
2021.06.01 – 09:47 The government begins preparing the 2022 budget.. What about the dollar exchange rate Baghdad – people
The Parliamentary Finance Committee announced, on Tuesday, that the Council of Ministers formed a committee to prepare the draft federal budget law for the year 2022, while making it clear that economic conditions do not help to reverse the decision to raise the price of the dollar.
Committee member Jamal Cougar said in a statement to the official agency, followed by “Nass”, (1 June 2021), that “the Ministry of Finance begins preparing the general budget in the sixth month of each year, as the governorates and ministries demand to submit their budgets in the middle of the eighth month,” stressing the “necessity of That the ministries of finance and planning decide to prepare the initial draft for the year 2022 and submit it to the House of Representatives in mid-October.
He pointed out that “the Council of Ministers formed a committee to prepare the draft federal budget law for 2022, and there are representatives from Parliamentary Finance involved in the discussions,” calling “the current government to submit the draft budget and be ready for discussions for the next government.”
He pointed out that “the economic conditions do not currently allow for a reversal of the current exchange rate option.” nasnews.com ................
butterfly Iraqi Dinar/US Dollar auction results 6-1-2021
United States DollarThe results of the foreign currency sale window for Tuesday 6/1/2021 and implemented today Announcement No. (4420)
Sale date – Tuesday 6/1/2021 and executed today the details the amount
Total sale for the purposes of strengthening balances abroad (remittances, credits)
146,226,000 Total cash sale 50,150,000 Total total sales 196,376,000
Note that: The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar. The cash sale price is ( 1460 ) dinars per dollar. cbi.iq/currency_auction/view/1035
Dave **** A former deputy warns of a government tendency to raise the dollar exchange rate: The dinar will blow up! …… a bitter spectator?
Dave 1186 to1460......CV....crash on oil......being oil dependent ......IQD has crashed 19 cents to the dollar in recent months........with oil now on the rise......?????
butterfly Dave I look at all of this information as speculation.............as we are speculating on the dinar.
butterfly 2021-06-01 15:17 Shafaq News / The Security Media Cell reported that the most prominent terrorist supporting ISIS cells had been arrested on the left side of Mosul.
The cell said in a statement that accurate intelligence information confirmed the presence of a prominent female terrorist in al-Qadisiyah neighborhood on the left side of Mosul, who held an administrative position in the so-called Diwan Al-Hisbah before the liberation of the ISIS-controlled cities, and is currently one of the most prominent terrorists supporting sleeper cells by providing them with money.
According to the source, the security forces raided the house the terrorist was staying at and arrested her.
butterfly 2021-05-31 08:07 Shafaq News/World Health Organization, at the heart of the world's slow and stuttering handling of the COVID-19 pandemic, faces a potential shake-up aimed at preventing future outbreaks from destroying lives and livelihoods.
Health ministers agreed on Monday to study recommendations for ambitious reforms made by independent experts to strengthen the capacity of both the U.N. agency and countries to contain new pathogens.
Under the resolution submitted by the European Union, and adopted by consensus, member states are to be firmly in the driver's seat of the reforms through a year-long process.
The new virus has infected more than 170 million people and killed nearly 3.7 million, according to a Reuters tally of official national figures.
Health ministers from WHO's 194 member states will also meet from Nov. 29 to decide whether to launch negotiations on an international treaty aimed at boosting defences against any future pandemic.
butterfly WHO's emergencies director, Mike Ryan, welcomed the decisions, telling its annual ministerial assembly: "Right now the pathogens have the upper hand, they are emerging more frequently and often silently in a planet that is out of balance.
"We need to turn that very thing that has exposed us in this pandemic, our interconnectedness, we need to turn that into a strength," he said.
The decisions, approved in committee, are due to be formally adopted in a plenary session later on Monday, the last day of its week-long assembly.
One panel, headed by former New Zealand Prime Minister Helen Clark and Ellen Johnson Sirleaf, a former president of Liberia, said that a new global system should be set up to respond faster to disease outbreaks to help ensure no future virus causes a pandemic as devastating as COVID-19.
The experts, who found crucial failures in the global response in early 2020, said that the WHO should be given the power to send investigators swiftly to chase down new disease outbreaks and to publish their full findings without delay.
They also called for setting up a Global Health Threats Council, to be led at the head of state and government level, to maintain political commitment to pandemic preparedness.
"The world was hit by this virus unprepared. And if another virus emerged tomorrow this would be still be the case," Björn Kümmel, of Germany's federal health ministry, said last week.
"A green light for this treaty process is the greatest commitment to learn from this crisis that this Assembly could have sent out. It is the most effective way to make sure that the global health crisis becomes the final one." Source: Reuters
Dave agreeD.... just commenting...G7 nations have been getting clobbered....imports on furniture up 275% lumber 300% ......gas everything has gone up.........Poor nation like Iraq has done well keeping their head out of water i figure.
Dave Would not be surprised if the average cost has gone up by the same measure in the last 1.5 yrs.......in our nations...speaking about Canada it sure has.....
Dave CBI has mentioned this CHUNKY MONEY,,,,,,,,i suppose they could make it chunkier?
Dave after IQD blows up......call it TP.........
sheila Sound of Silence by Disturbed (Conan) -- https://www.youtube.com/watch?v=Bk7RVw3I8eg
Dave sheila yes the sounds of silence would be disturbing should the IQD blow up......
butterfly Dave I learned a long time ago that I can't control things that are not in my hands. If it does, YEHAW, if not, BOOHOO. I am just the odd duck that does not focus on IF........
Dave butterfly certainly had higher expectations of their Govt to accomplish crossing the Start line after all these years
Dave Federal Supreme Court could have teeth......not sure yet?
butterfly Dave As I've stated from my beginning posting articles again, there has been a change, but ONLY baby steps. I could not believe the change, but I don't see anything happening anytime soon. They have more steps,no lots of those baby steps.
butterfly Dave Remember the FSC is all new and they are finding their way.
Dave hehe.......To Maliki's pocket?
butterfly they are still dealing with a LOT of corruption
Dave so the recent articles you been posting
butterfly ?
Dave \corruption...corruption followed by more corruption arts
butterfly People do not understand and I can't get people to understand. It is like a cult mind. They were told how to think, drink, eat, etc. for DECADES by a Dictator. Like a cult mind, it takes "years" to cleanse, and that is what Iraq is going through.
butterfly You still have people in there telling them how to think, drink, eat, etc.................
butterfly They don't realize that there is a "good" side to life, but they have never experienced it, so they will be lead by their noses.
BobbyC Iraq saved their ass by not passing the complete Federal Court Law. As far as chunky money, did they add notes to the circulation with the devalue?
Dave Protesters did make a difference before CV hit..........
Dave BobbyC Iraq does now have a complete FSC fer months now?
BobbyC Dave Indeed. They allowed for the substitutes to be enacted. The original Bill had em swaying towards veto power within certain groups, Sunni and Shiites on the Court. What they passed allowed room for the October Elections to take place. I'm still curious about the note count post devaluation
BobbyC Someone sent me something in regards to a comment I made about the IQD becoming a Reserve Currency. To clarify that, if the IQD becomes international, it will become a Reserve Currency due to Trade Agreements involving the IQD. I think some took it as to mean a Reserve Currency involving the SDR Currencies. Not what I meant
Dave Once globally tradeable banks will keep IQD in reserve like we keep pesos rupee etc
BobbyC That will also involve the IQD becoming part of Iraq's debt process. Now if some believe the IQD we hold will simply go away due to a re denomination, that's definitely a possibility
BobbyC Dave EXACTLY
BobbyC Those countries will hold the IQD due to cross country trade and some tourism aspects
Dave BobbyC 10 yrs fer banks to redeem them.....
BobbyC Dave 10 years at what rate? lol
Dave happy fer a nickle......
BobbyC I'd wet myself over a nickle.** I'd wet myself if they took the present day IQD international at 1460. That would mean we're in the game
Dave BobbyC not feeling any inflationary pressures where you live?
Dave Iraq has SQUAT currently
BobbyC Well if we go by the Consumer Price Index, everyone's feeling it. Didn't just start with Biden, it's been an ongoing process with Covid involved. Will it get worse? Probably
Dave yeah we have credit cards here...lol iraq not so much
BobbyC lol I got rid of those. Actually kept one for emergencies. Hurricane season in Texas made me do that
Dave yeah 1 2x4 12 bucks here.......
BobbyC You'd be surprised at how far Iraq has become digitally and that includes credit cards
Dave 30% of their population actually have bank accounts
Dave all Govt employees.....
BobbyC OFC the kicker to that is they are forced to by government salaries being put into the Banking System The only problem there is they aren't allowing much room for loans to the Private Sector. The guarantee thing, State salaries, comes into play
BobbyC Dave 100% on the Govt Employees. That has to change. Mahdi made that promise and that sunk Iraq financially
Dave BobbyC Private Banking Laws......?
BobbyC Now we sit back and watch how they handle the rise in Oil prices above and beyond the budgeted price
BobbyC Iraq has pretty much every Law on the books needed, Implementing and enforcing those Laws is where it gets complicated
Dave BobbyC yeah just a final reading......
BobbyC Will some need amending? Cas in point the FSC Law. That was the most recent I believe
BobbyC Case
Dave HCL/Art 140.....alot of oil money tied to that....?
BobbyC You can forget about the HCL and 140
BobbyC The HCL will liberate Iraq's Energy Sector and 140 will need a National Referendum
Dave BobbyC Census you mean.....
Dave Done
BobbyC Well that's part of 140. If they abide by the true meaning of 140, it will cost billions and a total rehabilitation of the disputed areas. It would involve going back decades and locating the people that were lawfully living and owning land and giving them back their rights to that land. If one were to read 140, you'll see something called Article 58. That details 140
BobbyC The Kurds were responsible for the Census taking place in 2007 I believe, They never did one
BobbyC That Census was involving Art 140
BobbyC Now they need to do a National Census to determine Political and economic distribution
Dave BobbyC recollect Maklis Arabitization of the disputed territories that almost created a war?
BobbyC Actually it goes way back to Sadam
BobbyC As far as 140'
Dave even with Maliki......
BobbyC Yeah maliki was a douche for sure and yet still yields probably the most power in Iraq
Dave 65 billion usd....
BobbyC Think about this. We all know about the Maliki's and Barzani's corruption yet once again who yields the power.....STILL
BobbyC Where the International Community screwed up was giving Iraq back their Sovereignty
Dave Reports from Iraq call em WHALES
BobbyC I say the IC, but mostly the UN
BobbyC Just them still being around and having Political sway tells you how deep this goes
Dave over 10 yrs ago i suggested we would see nodda until Makiki gets hauled away in chains
BobbyC And 10 years later no one could argue your point
BobbyC Now even with all that, Iraq has made great strides, they just need to get away from State Owned Entities and open the Market to privatization. That includes the Oil/Energy and Banking Sectors
Dave PRIVATE BANKING LAWS ....to protect foreign investments.....
BobbyC It's all their Brother :) There are no restrictions on Iraqi Banking, nor the IQD. It's the backroom dealings that bite em in the ass. Again implementation and enforcement of such laws
BobbyC Now some restrictions apply because those backroom deals
BobbyC Look at what the EU did as far as the Black List
Dave BobbyC havoc and instability keeps these dudes in power
BobbyC It wasn't becasue the Laws, it was the breaking of those Laws :)
BobbyC Dave 100% Chaos keeps eyes off of them
Dave postpone and dely ......maintains their IMMUNITY from prosecution
Dave Black List.....as per the UNSC
Dave same list applying in other nations as well same captions.....
Dave could clean this up quite nicely in days......benefit everyone immensely save those politicians
BobbyC So lemme ask you this. Would those sanctions/blacklist involve the US Treasury?
BobbyC The US Treasury does deal with the USD and Iraq pretty much runs on USD right?
BobbyC I say runs on the USD because they exchange their Oil proceeds for IQD
Dave have heard Treasury is holding IQD
BobbyC Why would they hold IQD?
Dave heard Bush took some......pay fer war???
BobbyC I heard Trump owns it as well
BobbyC If they were smart they wouldn't lol
BobbyC Going back to those Sanctions. There is no sanctions from the US involving Iraq's Banking. nor the currency There are sanctions against entites and individuals involving Iraq. Wonder why Maliki and Barzani aren't on that list
Dave Canada EU Australia certainly do,,,,,,,,,as per the UNSC resolutions
BobbyC What resolution's?
Sheila Dave Foreign Currency is an Asset, like metals, land, oil, etc...
BobbyC If Iraq as a country were sanctioned, it would have to be after they were given their Sovereignty in 2004 So the IQD is sanctioned? Why would they sanction a currency that is used 99.99% in country?
BobbyC Or did they Sanction the USD which Iraq uses in Trade and Debt payment? You can go on the UST website and see what currency's they hold in Reserve
Dave https://sanctionsmap.eu/#/main
BobbyC So within that list we see certain aspects of the UN Sanctions over Iraq pertaining to the Sadam era and some subsequent to the lifting of Sanctions by the UN. Yes there are sanctions against some businesses and individuals via the OFAC List and those continue today. Now we have to separate that from those entities and Iraq as a country. That's where it gets complicated and complex.
Dave BobbyC Kuwaiti deal not yet done … banking feeze
BobbyC 2003.......WASHINGTON -- The United Nations this morning lifted sanctions against Iraq following a 14-0 vote in the Security Council.
The vote on U.N. Security Council Resolution 1483 lifts sanctions imposed on Saddam Hussein's regime following the Persian Gulf War. The resolution also gives the United States and the United Kingdom authority to control the country until an elected government is in place.
The United States, United Kingdom and Spain proposed the resolution. It will allow the controlling powers to finance reconstruction of Iraq out of Iraqi oil proceeds following more than two decades of Hussein's rule.
"It is a resolution that will lift sanctions, after 13 years, off the backs of the Iraqi people," Secretary of State Colin Powell said just before the vote.
Dave Almost out of Chapter7........
BobbyC Yep Kuwait reparations will continue under Ch 7 because Kuwait would be foolish to let it go into Ch 6. Under Ch 7, Kuwait still hold all the cards and the UN allows it because if Iraq screws up elsewhere, that Ch 7 would be in play
Dave stilll owe Kuwait ....only 2 billion usd
BobbyC Yep and that deal was made years ago to pay percentages until 2022
Dave either your ch 7 or not......
BobbyC Ch 7 has many many sub paragraphs depending on the severity
Dave funny been about 2-3 billion fer 5=6 yrs
BobbyC Yeah they stalled in 2014 with ISIS and Oil prices
Dave no WTO......no imf
BobbyC No economy, no WTO lol
Dave sanctions.....
BobbyC *** they were suspended from their Mineral declarations by EITI … Well we could argue sanctions all night but I look at this from our UST which pretty much governs money movements.....
There currently are no broad-based sanctions in place against Iraq, but there are certain prohibitions and asset freezes against specific individuals and entities associated with the former Saddam Hussein regime, as well as parties determined to have committed, or to pose a significant risk of committing, an act of violence that has the purpose or effect of threatening the peace or stability of Iraq or the Government of Iraq or undermining efforts to promote economic reconstruction and political reform in Iraq
Dave BobbyC Only comment on what i read
BobbyC That's why we see an updated OFAC list every week adding or removing entities within Iraq. Most recently were people associated with the PMF within Iraq
Dave Trump had IQD and failed to press that buttom....lol
BobbyC Ha Ha Ha Ha Hopefully Biden bought some … I'm on board with you on sanctions being in place. I just differ on who those sanctions involve .. If ya wanna see sanctions come back to Iraq, look at the demonstration and how they are being handled
BobbyC The only reason we don't see em is because the UN knows, for now, that the deadly assault on demonstrators are not government sanctioned. These assaults, including kidnappings, are nothing new
BobbyC But I want to remain positive so I'll go read Recaps and Dinar Gurus. Goodnight
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