Zig’s Place Chat and News Wednesday AM 4-28-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

sandyf   @NORV "Sandy needs to read the IMF documents where they specifically talk about Iraq floating the currency." The IMF will always talk about floating the currency, particularly with emerging economies that have financial issues. Flotation is the only way to establish a realistic rate of exchange, it was the IMF that coerced Egypt into a flotation that resulted in a 50% devaluation. I would agree with most of what you say but you are wrong to make out a float would lead to some benefit, it is not a given.

butterfly   sandyf I would love to find the "trigger" person so we all can move on with our lives. AND how are you?

PeteV  @sheila hey there is a new update at ur secret source  Nicks Intel Update @sheila

Sheila  PeteV will go check it out

Sheila  PeteV Nicks not secret source... banker friend is my secret source... lol  PeteV banker friend gone to big meeting. maybe Thursday or Friday for all of us peons out here in dinarland... lolol lolol

PeteV  that is good sheila if it is true - there are a lot of folks at: https://www.youtube.com/watch?v=jUpcFV71wDg

butterfly Stability of global oil prices

Wednesday 28, April 2021 08:57 Oil prices stabilized today, Wednesday, after OPEC + confirmed that it will go ahead with plans to add more barrels to the market, despite the resurgence of the virus in some regions, including India, which led to ambiguity in demand forecasts.

The OPEC + committee agreed that the alliance should move forward with the road map to increase supplies over the next three months, as the alliance raised its estimate for demand growth this year.

West Texas Intermediate for June delivery settled at $ 62.91 a barrel on the New York Mercantile Exchange.

Brent crude for June fell 3 cents at $ 65.82 on the ICE Futures Exchange, after adding 1.2% in the previous session of OPEC.

Meanwhile, the American Petroleum Institute reported that US crude inventories increased by 4.32 million barrels last week, and gasoline inventories decreased.

butterfly  Al-Rafidain calls on those who are reluctant to pay their money, and threatens legal measures

Wednesday 28, April 2021 08:59 Al-Rafidain Bank called on citizens to pay their debts in late monthly installments, with the aim of generating interest on other segments.

The media office of the bank said in a statement, that "some citizens are lagging in paying their monthly installments on loans and other banking facilities, stressing that the bank will take legal measures and activate the law of collecting state funds in addition to the delay fines imposed on those who are reluctant."

He pointed out that "refraining from paying what they owe harms citizens and accumulates debts on them and exposes them to dire legal consequences. It is the duty of advice to expedite payment in order to preserve public money, in addition to giving the rest of the citizens the opportunity to benefit from the services provided by the bank from the returns of installments and the money stalling. 

The statement stated that "the bank continues to provide various types of services and facilities, including those wishing to obtain apartments in the Basmajah residential complex, in addition to small projects loans, construction and restoration loans, car loans in addition to investment loans and other services that can be viewed by visiting our bank branches or by looking at the communication sites." The bank’s official social network. ”

Butterfly   The prices of Basra Light and Heavy crude are rising again

Wednesday 28, April 2021 09:48 Today, Wednesday, the prices of Basra Light and Heavy crude oil increased again, affected by other oil materials, after expectations of a recovery in global economic growth.

Basra light oil exported to Asia rose to $ 65.43 a barrel, by $ 0.91, or 1.41%, from Tuesday, while Basra heavy crude oil prices recorded $ 61.49 per barrel, an increase of 0.85%.

The price of Basra Light oil was the highest among the members of OPEC, as Arab Light crude reached $ 64.99 per barrel, and the Emirati Murban mixture scored $ 63.90 per barrel, while the Algerian Blend of Sahran scored $ 64.28 per barrel, and the price of Nigerian Light Bony Light reached $ 64.20, and Angola's Gerasol 64.67. Dollars.

International oil prices rose today, reaching Brent crude at $ 66.11, and US West Texas crude at $ 63.19.

butterfly  A slight increase in the exchange rate of the dollar against the dinar

Wednesday 28, April 2021 10:42 The exchange rates of the dollar against the Iraqi dinar increased today, Wednesday, against the dinar on the local stock exchange.

And the Kifah Stock Exchange recorded: 147,750 dinars, the price in exchange (approximate), the purchase price of 147,250 dinars, and the sale price of 148,250 dinars.   As for Erbil, it was recorded at 147,950 dinars per 100 dollars.

Basra 147,950 dinars per 100 dollars.   Mosul: 147,900 dinars per $ 100.

butterfly   the value of the dinar is going up..............hope that is a sign

butterfly   Parliamentary law by / NINA /: No amendment to the provincial councils election law prior to the Federal Court’s decision

Wednesday 28, April 2021 14:39 The Parliamentary Legal Committee confirmed that moving forward with amending the provincial councils election law is still early, until the appeal case is settled by members of local councils and dissolved districts before the Federal Court.

The deputy head of the committee, Muhammad Al-Ghazi, said in a statement to the Iraqi National News Agency / NINA / that "the Parliamentary Provincial and Regional Affairs Committee has prepared a proposal to amend the provincial councils election law, which will be presented for discussion in the next sessions," referring to a joint meeting that will be held later for the Presidency and members of the Legal Committee And a regional committee with the heads of the blocks to look into the matter.

, adding that "the decision of the House of Representatives to suspend the work of the provincial councils is subject to appeal to the Federal Court, which will decide the case to determine the extent of the constitutionality or unconstitutionality of the decision of the Council of Representatives," indicating that "the ruling The claim of appeal by members of the provincial councils and the dissolved districts will pave the way for modifying the provincial councils election law or not. "

The House of Representatives decided, in its session held on October 28, 2019, to dissolve the provincial councils, and to grant parliament and governors the powers to manage financial and administrative matters in the provinces, and then voted on November 26, 2019, on the second amendment to the provincial council elections law No. 12 of 2018, with the aim of dissolving Provincial councils with a new law.

butterfly   2021-04-28 02:14 Shafaq News/ the Dinar/Dollar exchange rates retracted Today, Wednesday.

Shafaq News Agency correspondent said that Al-Kifah and al-Harithiya Central Exchanges are trading the 100 US dollar at 147750 Iraqi Dinars, compared to 147800 dinars yesterday.

Our correspondent added that today's selling and buying prices in the local markets dropped to 148250 and 147250 dinars per 100 dollars.

In Erbil, the US dollar buying and selling prices stabilized at 147800 and 147500 respectively, for every 100 dollars.

butterfly   2021-04-28 03:57  Shafaq News / U.S. bank Goldman Sachs expects commodities to rally another 13.5% over the next six months on a worldwide reversal of coronavirus curbs, lower interest rates and a weaker dollar, its commodities research team said on Wednesday, Reuters reported.

The bank now sees Brent prices rising to $80 a barrel and U.S. West Texas Intermediate (WTI) prices to $77 a barrel over the six month period.

“We expect the biggest jump in oil demand ever, a 5.2 million barrels per day (bpd) rise over the next six months,” Goldman said, citing acceleration of vaccinations in Europe and an unleashing of pent-up travel demand.

The easing of international travel restrictions in May will lead global jet demand to recover by 1.5 million bpd, it said.

The bank sees gold prices at $2,000 an ounce over the next six months and said it is too early for Bitcoin to compete with gold for safe haven demand, adding that the two can co-exist.

“While Bitcoin benefits from greater liquidity, it suffers from lack of real use and weak environmental, social, governance (ESG) scoring, due to its high energy consumption,” it said.

Such extensive energy use made the cryptocurrency vulnerable to losing its “store of value” demand to another, better-designed contender, it added.

Goldman also upgraded its copper price forecast, setting a 12-month target of $11,000 per tonne, citing an under-invested supply side.

“The only way this record-sized and fast approaching supply crunch can be solved is via a surge in price to new record highs,” the bank said.

While China will maintain its major role in commodity demand, the bank added, it is not expected to be the only major source of growth in the coming decade.

butterfly   2021-04-28 03:26   Shafaq News / The Iraqi President, Barham Salih, is scheduled to visit Erbil, the capital of the Kurdistan Region, today.

According to information obtained by Shafaq News Agency, Salih will visit Erbil this evening to meet the President of the region, Nechirvan Barzani, and senior officials to discuss the situation in Kurdistan in particular and Iraq in general, in addition to the ongoing preparations for the upcoming legislative elections.

Salih will discuss unifying the Kurdish parties' position and the attack that targeted Erbil International Airport recently.

The Iraqi President's visit to Erbil comes in conjunction with Iranian Foreign Minister Muhammad Javad Zarif to the region's capital, where he met with the Kurdish leader, Masoud Barzani, the President of the Kurdistan Region, Nechirvan Barzani, and Prime Minister Masrour Barzani.

butterfly   2021-04-28 06:25   Shafaq News/ The Iraqi Minister of Interior, Othman al-Ghanmi, ordered holding three senior officials from in custody against the backdrop of ISIS operatives' attack on a security site at the borders between Iraq and Saudi Arabia.

A security source revealed to Shafaq News Agency that al-Ghanmi's order included three Brigadiers: the Commander of the fifth territory border guards, the Commander of the fifth territory border guards brigade, and the Commander of the third regiment of the fifth territory border guards brigade.

Yesterday, Tuesday, a group of ISIS operatives attacked a site of the Iraqi border guards in the Arar area, at the Iraqi-Saudi borders. The terrorists burnt the site and managed to loot weapons, Communication equipment, and a vehicle. The attack resulted in no casualties, as the troops fled as soon as the attack began.

butterfly   https://insidearabia.com/could-a-saudi-iranian-rapprochement-be-in-the-works/ Could a Saudi-Iranian Rapprochement Be in the Works?

by Sami Hamdi | Apr 28, 2021 Reports have emerged that Iraq is now mediating discussions between the heads of intelligence of both Saudi Arabia and Iran, as the countries explore rapprochement and possible reconciliation. The reports come just weeks after Iraqi Prime Minister Mustafa al-Kadhimi visited Riyadh where he was received warmly and signed a series of agreements and memorandums of understanding with the kingdom.

The news of talks between the two largest rivals in the region – Iran and Saudi Arabia – come as negotiations over a new nuclear deal between Iran and the US show signs of gaining traction following EU-brokered talks in Vienna. While the Iranian and US delegations refused to meet face-to-face, both are beginning to offer compromises. Iran has suggested it is willing to accept the release of frozen funds as a gesture of good will, while Biden has signaled that he is prepared to lift sanctions on critical sectors of Iran’s economy in order to move the talks forward.

Why now?

butterfly   There is little doubt that Saudi Arabia had gambled on a Trump victory in the US elections. The Trump administration afforded significant advantages to Riyadh. Among the most prominent of these were support in avoiding accountability over the murder of journalist Jamal Khashoggi, apathy towards the blockade on Qatar, and more importantly, the annulment of the Iran nuclear deal that Saudi and other US allies had been adamantly against.

The Trump administration went on to apply maximum pressure on Iran and its economy and hinder its ability to effectively support its numerous militias in Iraq, Syria, Lebanon, and Yemen. Trump also had Iran’s most prized and effective general, Qassem Suleimani, killed in a US air raid in Iraq in January 2020.

butterfly   Biden victory created a very different set of circumstances. Biden had asserted in his campaign that he would hold the Saudi Crown Prince, Mohammed Bin Salman, to account over Khashoggi, and that he would end US support for the war in Yemen, revive the Iran nuclear deal, and “recalibrate” the US relationship with Saudi Arabia. The message was clear: disciplining Bin Salman would take precedence over Iran.

In a panic, Riyadh dragged a dismayed UAE and baffled Egypt into a reconciliation process with Qatar, released the women’s rights activist Loujain al-Hathloul from prison, braced for unfavorable negotiations on Yemen by brokering a new government for President Hadi, and publicly praised Biden despite his anti-Saudi rhetoric.

In other words, the perceived threat to Bin Salman specifically (not Saudi Arabia) resulted in a series of U-turns on state foreign policy. This indicated that the Crown Prince was rushing to demonstrate his utility to the new Biden administration and his willingness to toe the line in securing US interests in order to protect his position and future.

butterfly   More importantly, the scramble on the part of the Crown Prince revealed the extent to which Saudi Arabia (or more specifically Bin Salman) believes that the kingdom no longer possesses the power, influence, and capabilities to leverage Washington as it used to. Where King Faisal had once raged at Washington’s support for Israel and unilaterally imposed an oil embargo, and King Abdullah had threatened to rupture relations with the US over the same issue and thereby extract concessions, Bin Salman’s Saudi Arabia lacks any confidence of asserting itself against US policies that clearly run counter to its interests.

butterfly   It is in this context that Saudi Arabia has been willing to engage in talks with Tehran. Biden is relentless in his pursuit of a nuclear deal with Iran and has publicly dismissed the concerns of even the US’ most prized ally in the region, Israel. The war in Yemen is being driven towards negotiations in which Saudi Arabia and the internationally recognized government will be the weakest parties. The result is likely to see either a quota Yemeni government with significant stakes given to the Houthis and Separatists, or a partition which will entrench the Houthis on Saudi Arabia’s southern border.

butterfly  The US has not restored the two Patriot missile systems that were withdrawn in 2020, which has forced Riyadh to purchase them from Greece instead. Although Biden ruled out sanctions on Bin Salman over Khashoggi’s murder, Congress continues to remain hostile as they scrutinize bilateral ties and arms sales to the kingdom.

butterfly  Bin Salman is now seeking to adapt to what has become a difficult environment for him. In the same manner with which he rushed to reconcile with Qatar despite Doha not fulfilling any of the 13 conditions of the blockading countries, Bin Salman is now displaying the same pragmatism with Iran. The view of Saudi officials is that the nuclear deal is not about Iran’s nuclear capabilities. Rather it is the establishing of a framework of cooperation between Iranian and US interests in the region.

For Saudi Arabia and the other Gulf states, the nuclear deal is the public platform where Iran and the US will come to an agreement to respect each other’s gains and influence in the region and avoid undermining one another. For Biden, this makes sense as China now becomes the prime global antagonist, and the President is keen to de-prioritize the region. For Iran, the US has never been the intended target. Instead, it has been about regional hegemony and leadership over its neighbors.

butterfly   The inability of the Arabs to influence these negotiations was made clear in the embarrassing manner in which Arab delegations turned up at the Vienna negotiations without invitation to privately lobby the US and EU to take their considerations and concerns over Iran into account. Since the US is hell-bent on coming to an arrangement with Iran and since there is little that the Arab allies can do about it, Bin Salman believes it makes sense to begin adapting to this harsh reality by engaging with Tehran.

However, Bin Salman is not entirely in a disadvantageous position. After all, he is the undisputed power in the kingdom. A “bad” deal will not harm his position domestically. While he is now constrained on foreign policy, his rivals are equally restricted. For all the public display of power, Turkish President Recep Erdogan’s woes have been laid bare as he has U-turned and embarked on a bid to reconcile with Egypt and Saudi Arabia, and has even gone to the extent of silencing the Turkey-based Egyptian opposition.

Furthermore, Qatar no longer poses the political threat it once did as the region moves away from the battlelines drawn by the Arab Spring, and the UAE’s lobbying network increasingly appears to be the most effective and influential in Washington.

butterfly  In terms of public opinion, prominent Gulf commentators have openly justified Bin Salman’s willingness to talk to Iran. Dr Abdullah Al-Nafisi has argued on Twitter that: “Given Saudi Arabia is being hurt by the Houthis, and given the key to the on/off switch on the Houthis is with Tehran, then it is normal and beneficial for Saudi Arabia to engage in talks with Tehran to stop the bloodshed. This is politics, and we should cast aside the excessive sensitivity of some.”

Moreover, Bin Salman is less concerned about foreign policy than he is about domestic policy. The Crown Prince believes his legacy will be defined by Vision 2030 and the sweeping social and economic reforms in the kingdom, rather than deciding the ideological foreign policy feuds that have lasted decades and, in Iran’s case, centuries.

If he can secure a guarantee that Iran will not target the kingdom (whether by agitating the Shia population in the East or firing missiles via militias in Iraq and Yemen), then he is likely to settle. In other words, it is the very unscrupulous pragmatism that Bin Salman is notorious for that ironically makes the possibility of a reconciliation or “truce” possible.

The Potential for Reconciliation

butterfly   It is worth noting that this is not the first time that Saudi Arabia and Iran have engaged in rapprochement talks. Tehran has never rejected any round of discussions that have been offered by Riyadh, irrespective of how bad bilateral relations have been. It therefore follows that the act of engaging in talks does not in itself provide any indication that reconciliation or rapprochement is on the horizon.

butterfly  Iran believes that it is on the ascendancy and has the advantage. It has survived Trump’s “maximum pressure,” delivered the Houthis to a strong negotiating position in Yemen, incorporated its loyal militias into Iraq’s state institutions, rescued Assad, and helped to facilitate Hezbollah’s enduring presence in Lebanon despite the country’s ongoing upheaval. Indeed, the UAE, Qatar, and other Gulf states are making increasing overtures to Tehran in recognition of the changing tide brought about by Biden.

On the other hand, with the offer of lifting sanctions from Biden, and therefore an opportunity to tend to its battered economy, Iranian policymakers may well settle for a long-term truce with Saudi Arabia with an eye to shore up their allies who remain engaged in difficult environments, to resume their expansion later. In other words, a reconciliation is possible not because the two parties want it, but because neither has the power at the moment to ruin the other.

butterfly   Iraqi bank officials laid 'trap' for now detained Australian businessman......................................An Australian businessman has been arrested in Iraq over his involvement in a bank construction deal, and his family is urging the international community to aid in his release.

Mechanical engineer Robert Pether was arrested in Baghdad after he travelled there from Dubai to meet with bank representatives to discuss the construction of a new Central Bank of Iraq headquarters.

According to his family, Pether had been invited to attend a meeting with the bank, following four years of back and forth, and disputes around the construction.

However his wife says the bank had laid a "trap".

"He and his colleague had their suits on and got arrested immediately," Desree Pether told the Guardian.

"There never was any resolution and there was never any meeting scheduled. It was a trap."

He has not been informed of his charges, and his wife said she was not told which prison he is being kept in during his 20 days in detention.

Cairo intervened on behalf of an Egyptian colleague who had been arrested with him and provided him with a phone to contact his wife. She said Pether has been kept in isolation without access to a phone or computer.

butterfly   "When I spoke to him, he just kept saying 'I'm so sorry, I'm so sorry'," Desree said. "I keep saying 'It's not your fault, you've done nothing wrong. This is not your fault."

"He's so upset. He's terrified."

Desree criticised the Australian government for refusing to share information about her husband's case, citing privacy laws.  The Department of Foreign Affairs told the Mail Online Australia they are providing consular assistance to an Australian detained in Iraq, but did not name Pether specifically.

The pair are based in Ireland, and Irish Senator Eugene Murphy spoke in Parliament earlier this week about Pether’s incarceration.  Pether had "unfortunately been caught in the middle…[of] some sort of contractual dispute", Murphy said.

Pether, who had been involved with the bank project for four years, tweeted in 2017 about the project in Iraq and how much he was enjoying the country.

butterfly  "I know I always says this – but just coming home after a 2 week stint in Baghdad. Do not believe what the media says – Baghdad is safe. It is a city full of hope, resilience, and potential. Every trip is an experience and shows me something new. I have so much respect for the Iraqi people and genuinely enjoy working with them."

butterfly   Assigning a new director of intelligence and counterterrorism to Diyala

Wednesday 28, April 2021 14:56 A security source announced that a new director of intelligence and combating terrorism has been appointed in Diyala to replace its former director.

The source said to the correspondent of the Iraqi National News Agency ( NINA ): "Major General Ali Khawam has been assigned as Director of Intelligence and Combating Terrorism in Diyala instead of Brigadier Ali Al-Sudani, due to the recent security breaches in the Waqf Basin, northeast of Baqubah."

He added, "Al-Sudani was returned to the Intelligence Directorate at the Ministry of Interior."

butterfly   Looks like they are taking on their own responsibility, which is a good sign they might me on the road to recovery.............finally!!!! Enough for now be back later.

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