Zig’s Place Chat and News Wednesday AM 5-5-21

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

Butterfly   Dollar exchange rates are rising on the local stock exchange   Wednesday 05, May 2021 10:25.....................The exchange rate of the dollar rose, today, Wednesday, on the main stock exchange in Baghdad slightly. Where the central Al-Kifah and Al-Harithiya Stock Exchange in Baghdad registered 148,100 Iraqi dinars for $ 100.

The Central Al-Kifah Stock Exchange had registered 148,000 Iraqi dinars, compared to 100 US dollars, during its opening on Tuesday morning.

As for the buying and selling prices, they have stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 148,500 Iraqi dinars, while the purchase prices reached 147,500 dinars per 100 US dollars.

butterfly   2021-05-05 06:06 Shafaq News/ An informed source in the Ministry of Oil revealed that some foreign employees in the Iraqi oil sector receive astronomical sums up to $100 thousand a month.

The source told Shafaq News Agency that more than 270 foreigners employed in the Malaysian "Petronas" company operating in al-Gharraf in Dhi Qar charge a monthly salary between 50 to 100 thousand dollars.

"Those sums are surreal considering the current situation Iraq is passing through," he added.

"Despite earning this much, they only work eight months in Iraq. Most of them reside in UAE."

Iraq has cut a considerable portion of its workforce in the oil sector over the past month to accommodate OPEC+ production restrictions.

Dismissed employees, and scores of unemployed graduates, have taken the streets on many occasions to demand reinstating or employing them in the oil companies.

Butterfly   2021-05-05 05:48  Shafaq News / the Central Bank of Iraq on Wednesday, announced decrease in the foreign currency exchange.

Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 4.57% decrease to 167,300,000 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.

He added that the sales operations were in the form of wire transfer (139,900,000 $) and credits (27,400,000$).

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

Butterfly  2021-05-05 05:08 Shafaq News/ Turkey respects the borders and sovereignty of Iraq, and the recent cross-border operation only aims to fight against the illegal PKK elements there, Turkey's Minister of Defense, Hulusi Akar, said on Wednesday.

“We respect the borders and sovereignty of all our neighbors, especially friendly and brotherly Iraq. Our only goal is to fight against terrorism. Everyone should know that we are in northern Iraq due to the terrorists nesting there in terms of Iraq’s terrain conditions,” he said, addressing troops at the Gölcük Naval Command, according to Anadolu newsagency.

"A total of 68 PKK members were killed in northern Iraq in the Turkish Claw-Lightning and Claw-Thunderbolt military operation," the Turkish minister said.

Iraq on May 3, summoned the top Turkish diplomat in Baghdad to protest the Turkish defense minister’s weekend visit to a military base in northern Iraq.

The Iraqi Foreign Ministry said in a statement that it handed the Turkish charge d’affaires a protest note over Akar’s visit to a Turkish base in the Kurdistan Region.

According to the statement, the ministry told the top Turkish Embassy official that Baghdad “categorically rejects the continuing violations of Iraqi sovereignty...by the Turkish military forces.”

On May 1, Akar visited a Turkish Armed Forces military base in northern Iraq flanked by several Turkish high-profile commanders.

Butterfly   2021-05-05 04:02  Shafaq News / Kurdistan’s President Nechirvan Barzani arrived on Wednesday morning at the political office of the Kurdistan Democratic Party (KDP) in Pirmam in Erbil governorate.

Barzani began two days ago series of visits to Kurdish political parties “to unify the political discourse, discuss the issue of the region’s constitution, and to talk over the upcoming Iraqi parliamentary elections.”

Butterfly   China announces the imminent launch of the agreement with Iraq .. 30 billion volume of trade initiative - 05-05-2021 .............. Today, Wednesday, China announced the imminent activation of the agreement with Iraq, while revealing that the annual volume of exchange between the two countries reached 30 billion dollars.

"The annual volume of exchange exceeded 30 billion dollars annually," said Chinese Trade Counselor Xu Chun, during a press conference with Chinese Vice Ambassador Jian Fangning, through a closed circuit to introduce the Chinese development achievements and the development of economic and trade relations between Iraq and China. 2019, the volume of exchange reached 33 billion and 300 million dollars, but last year it decreased to 30 billion and 200 million dollars, as a result of the decline in world oil prices.

He added that "China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic."

On the date of implementation of the agreement signed between Iraq and China, he explained that "the Chinese Sancho Foundation is working closely with the Iraqi Ministry of Finance and the Central Bank to address technical issues," stressing that "the Sino-Iraqi agreement will be activated as soon as possible and there is a serious intention in this regard."

butterfly  Saudi Arabia grants a license to an Iraqi bank to open a branch in the Kingdom 05-05-2021 ...........In Saudi Arabia, he announced the approval of granting a license to an Iraqi bank to open a branch in the Kingdom ..

The Saudi Press Agency reported that the Saudi Cabinet agreed to grant a license to an Iraqi bank to open a branch in the Kingdom, noting that the approval was after the visit of Prime Minister Mustafa Al-Kazemi To Riyadh at the head of a high-ranking government delegation at the beginning of last April and the establishment of a joint Iraqi-Saudi fund, whose capital is estimated at three billion dollars, as a contribution from Saudi Arabia in promoting investment in economic fields in Iraq.

Sheila   Doug_W Which web site do you use for Silver spot prices?

Zig It's mostly the Butterfly Show at https://dinarrecaps.com/our-blog/zigs-place-chat-and-news-tuesday-pm-5-4-21 with a cameo appearance by Sheila lol

butterfly  Zig I post in hopes that people would read what is put out there instead of what the so-called gurus are feeding them.

Butterfly   How many years have we heard that the wealthiest/tier1/tier2/A/B have been cashing out. Our turn is right around the corner.

Sheila  butterfly maybe just 4-5 more days?

butterfly  Yup sheila that is about right, I will be on the road again traveling.

Sheila   butterfly no gurus said that... got that from my one and only bank contact.

butterfly  sheila I hope your contact is correct, but I was saying, being sarcastic, I will be driving back to where it is warm. I am freezing here in MI.

Sheila butterfly already south... could go further or go west

butterfly  Zig remember when seck would check with his contact and they would show him the "back" screen....nada, nothing, zilch, etc.?

Sheila  @Zig who is "seck"?

Zig  sheila : How high up in banking is your contact??

Zig  butterfly : Yeah

Sheila Zig retired, yet well positioned

Zig  sheila : Seck was at PTR....then started his own forum which is now inactive....

Sheila   Zig okay

butterfly sheila remember when I posted "what" I was told about the "trigger" being pulled back in April? Well someone must have broke the finger to pull the trigger. Like I've said over and over, give me proof and then I "might" believe ya.

Sheila  butterfly algorithms? You must believe in this speculation, you keep showing up every day and posting these great articles.

butterfly sheila I am posting articles because Zig ask me to come and post articles. It has been years since I was even concerned about the dinar. I have noticed in all the articles Iraq is finally getting it, but it will take many years for them to grab ahold of what they actually have.

butterfly   Back then it was the same as it is today, get ready folks it is going to happen, etc etc etc/ and here we are in the same position as we were back then.....it is about to happen, hang on folks you will be going to the bank, take a security person with you, there will be 800 numbers you will call to get your time to exchange, omg the same "stuff" is being said these days.

Sheila butterfly we are blessed to benefit from your efforts

butterfly   sheila as I told Zig I don't know how much time I will have to continue posting articles when I get back home...........and get warm lol

sheila  butterfly do what you can as long as you can. we are grateful.

butterfly  sheila thanks, I hope members here and there read the articles and see how much Iraq has progressed.

Sheila  butterfly they must see... they still hold their dinar, hoping

Butterfly   sheila I have mine but can't remember where I put them. lol.......NO one in my family knows I have the dinar. My Marine spent many deployments in Iraq and he doesn't even know. I took pictures of him dressed in his blues the other day that he was going to my dnl's school to teaches the young ones about raising and lowering the flag. When I went to the Chiro I enlarged the pictures of all the metals on his chest and showed my Chiro, he said WOW who is that? Well of course I proudly said, my grandson.

Sheila  butterfly our dinar is secret because family and friends were told about it. most thought we were batshytecrazy and walked away shaking their heads. lol ... don't talk about it now, even when they ask. our general response is "never know" or "can't win the lottery unless you buy a ticket".

butterfly sheila There is a note stating what it is all about to inform the family if it happens after I am gone. My oldest grandson will know and understand.

Sheila  butterfly a note or "standing directive" notarized?

butterfly  sheila No no.....when they go through my things they will find the dinar and he will know to either keep it or throw it out. You don't have to have anything notarized with foreign currency.

Sheila  butterfly foreign currency is an asset with monetary value. part of your estate.

butterfly   sheila my sister served many years in Africa as a child evangelist, and she always brought back their currency and gave it to all of us.

Sheila  butterfly very kind gesture

butterfly   sheila as I told my dnl, before you shed a tear, go to the bank and withdraw every penny out of my account.

Sheila  butterfly good action... before banks lock it down as part of estate process.

butterfly   sheila BINGO girl

butterfly  Electricity unveils {Euphrates News} about a new plan and announces its launch date

05/05/2021.............{Economical: Al Furat News} The Ministry of Electricity revealed, on Wednesday, the ministry's intention to launch a new plan for the advancement of energy in the country.

Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here

"The ministry will announce a new plan on the first of next June that calls for increasing energy production, resolving bottlenecks, installing mobile transformers and introducing transformer stations for service," said the ministry’s spokesman, Ahmed Musa al-Abadi.

He pointed out, "provided that you wait for the fuel plan to start the ministry’s plan."

"As long as it is sufficient to supply gas and fuel for production plants, we will offer a much better summer than last summer," Al-Abadi added.

The Minister of Electricity, Majid Hantoush, announced the current production of energy throughout the country, which represents 15 thousand megawatts currently and we need 28 thousand megawatts in the summer, which is the peak in demand and preparation this summer, producing 22 thousand megawatts with imported energy and amounting to two thousand megawatts, meaning a deficit of 6 Thousands of megawatts.

He attributed the reasons for the deterioration of energy service to the uncalculated indiscriminate housing expansion and its negative impact on the electricity sector.

The production of a thousand megawatts costs the Ministry of Electricity 70 million dollars a month, and we spend 15 billion dollars annually on electricity production, and we only get one billion, and the state supports the citizen with electricity up to 80-90%.

The Minister of Electricity also announced that good agreements had been reached with the Islamic Republic of Iran to supply Iraq with the energy it needs in the field of electricity and gas.

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