Zig’s Place Chat Room Discussion and News Thursday 12-10-20

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

Xyz   Parliamentary Finance calls on the government to finalize the amendments to the budget and send it to Parliament

Magda Al-Tamimi, a member of the Parliamentary Finance Committee, called on the Council of Ministers to intensify its sessions to end the amendments to the budget for next year and send it to the House of Representatives.

Al-Tamimi confirmed in press statements that there are many applications for appointment from graduates, and that creating job opportunities requires a review of the next year's budget by including the reform packages proposed by Parliament and the government that would enhance the ability to create job opportunities and revitalize the economy, indicating that the House of Representatives He closely monitors the outcome of the meetings, with the aim of gaining time and sending the budget to vote before the end of the year.    LINK

Professor Dinard   xyz my favorite conspiracy theory is that the CBI will delete 3 zeros and make everyone rich. But that's just iraQanon nonsense

Sheila   Professor Dinard maybe between Dec 14 thru Dec 21?

Professor Dinard  sheila are you talking about the RV?

Professor Dinard  Ahh I kind of agree with kap so no comment. I'm already attacked for my views enough as it is

Zig  Professor Dinard : You seem to have thick skin and are not rattled easily...

Professor Dinard   Zig its cause idgaf and I'm chill cause of that sweet savory flavortown oregano   : Bong:

Clydesdale  Zig, I've seen you question how long people have been in this if they did not know XXXXX. Twice recently on recaps I have seen you make a reference to Mountain Goat and you not knowing she had a CBI contact. (no idea why you would raise that issue again since you should have learned it last week when you also commented about it and it was posted on recaps). Don't know if you were being condescending or attempting to be funny about a "trustworthy goat" but either way, she has been referencing a CBI contact for years so hopefully you are in the know now  :) Personally I think she has been pretty faithful all these years and her info has been free, unlike most of the other gurus

Dave   My CBI contact states otherwise.......

Dave  Kap,,,,,,where are you?

EYEGUY  Dave really RV soooooon

Dave  Wonder if CBI realizes that they have had a Mole for yrs announcing a RV?

Dave  EYEGUY every yr for over a decade.......at the end of each fiscal yr......same announcement...RV soon......

Clydesdale  First word in Okies vocabulary........soon

Dave  Clydesdale Iraq cant pay salaries has yet no reliable electricity .still under Ch7 sanctions has no private banking laws to protect foreign investments....No cash from from that Kuwati Donors conference.....fewer than 30% of Iraqis have bank accounts......RV soooon......

Clydesdale   Dave I don't know why you directed that at me, I never have called anything much less indicated "soon" so you can take me off your radar. I'll only believe it when I see it.

Dave  hehe......I AGREE!!!

Dave  Gurus are for people that require to be led?

Clydesdale  Dave Exactly, not too many people left in this country.... or yours, much less in dinarland that don't need to be spoonfed. LOL

Dave   about 12 yrs now.......hopium fun......hope i am wrong!!!!!

Clydesdale  11 for me

Dave   recent chatter has been encouraging

Dave  Iraq needs to walk the talk already........getting older by the second

Dave   have alot of seconds behind me

Clydesdale   Dave It has been but........ believe it when you see it. :Popcorn: We have certainly been down this road before as you eluded to earlier. I agree this is more of a fever pitch than ever before but may just be gurus trying to play their year end sales pitch.

Dave  I here we are getting a huge sun flare today....could affect power and internet   Northern lights to be spectacular..

NORV   There is no RV. All nonsense.   :Pool: FLOAT

Zig   NORV : @Kap I'm gonna change your name to  KILLJOY

Clydesdale   Why does NORV spend so much time on something he does not believe in? That would be like me going to church every Sunday and then ranting day in and day out that I don't believe in God.

NORV   Change it to fact!

NORV   Iraq will never significantly RV the dinar. It goes against all principals of monetary policy not to mention they could never afford it.

NORV   Iraq has over 40 trillion dinar outside the banking system in Iraq. A RV at 1 to $1 for example would put Iraq's debt at over 40 trillion dollars. lol That is over 2x the entire wealth of Iraq including oil and minerals in the ground.

NORV   Iraq's total wealth is 16 trillion dollars.

NORV   Iraq needs to create a private sector/market economy to support the economy. Without it they will go broke. As stated by the IMF several years ago..the plan is to float the dinar to counter inflation created by significant investment. Until that happens the dinar will remain the same

NORV   Zig floating the dinar is probably a year or two away

NORV   they need to pass laws to create a suitable investment climate for investors

NORV  until that happens, nobody is coming to Iraq and they will continue to struggle.

Zig  I hate to admit it but @NORV does make sense.....lol

NORV  And with the new CBI governor letting the spread fall to over 6% they are not in compliance with the IMF 2% or less spread. requirement

Xyz   NORV then take 2 yrs vacation and leaves us the naive alone  GO RV

NORV   Of course it makes sense. Because this is how it works.

Clydesdale  So all the articles that the gubooers are showing are just bunk?

NORV  Clydesdale what articles?

Zig  I can wait...what the heck...I can bug @Z for 2 more years easily.....LOL

NORV  I have offered for years to give anyone who can show me how they can RV a free pizza. Nobody does lol

Clydesdale  Not a day goes by that there are not articles linked on the dinar websites indicating the Iragis are ready to take action on the rate.....are they all just made up?

NORV  Clydesdale lol they want to devalue!

Zig  Two more years and we will be rich :Happier:

NORV  devalue will save the Iraqi government millions of dollars

Clydesdale  NORV Maybe ones that could show you think it's worth more than a pizza. LOL

NORV  Let me ask you this...  If you were broke. had no money. could you go buy a new house?

NORV  Of course you couldn’t   same for Iraq...they are broke. No money. They can never RV

Clydesdale  Yes, because loans are given to people who can qualify for a discover card nowadays.......that's what happened to the economy in 2008 and getting ready to happen again once all this forbearance runs out.

NORV what is amazing to me is why so many want me to defend the fact there is no RV. Yet let the guru BSer's off the hook believing that nonsense.

NORV Clydesdale Iraq is out of loans

Dave NORV I agree with most you state,,,,,,save FLOAT.....Wheel barrows instead of wallets post delete 3 zeros and Lds......?Can you answer that?

NORV with over 40 trillion dinar in mattresses, they could never afford it

NORV  Dave Dave i would answer if you ever made sense

Clydesdale  I don't let a single one off the hook. I don't believe one of them....they are making money by spreading sunshine and playing those that are hooked on hopium

Dave  1000 fils for a coke?

NORV  Some officials want to LOP the dinar. which is a neutral event. I do not believe they could ever get permission to do that.

Professor Dinard  Rv would have to reflect buying power of dinar and there is little buying power with dinar

NORV  A LOP would require parliament approval and I do not see parliament approving such

Dave  Professor Dinard CBi states INCREASE PURCHASING POWER!

NORV  Professor Dinard You cannot RV with 40 trillion dinar outside of the banking system in Iraq. What part of that do you not understand? Who would pay for that?

Dave  DELETE 3 Zeros......LDs ....even fils......

Professor Dinard Dave gotta destroy dinars for that and improve infrastructure

NORV Dave delete zeros is a LOP

NORV  you do not want to see them delete zeros

Professor Dinard  NORV cause they'd use another currency series right?

NORV  Dave it could happen if they float and let it rise gradually over time

Dave  currency auctions raked in truck loads of dinar

Dave  CBI cash could be sitting in limbo

NORV  Professor Dinard If they float, they could reduce the money supply over time which would make it possible

NORV  Dave They are not reducing the dinar

NORV the currency auction does not reduce the money supply

Dave  :Spray:

Professor Dinard Would be cooler if they did

NORV  currency auctions are a balance between dinar and dollars. the balance is what maintains the market rate.

NORV  why do they sell dollars at auctions?

Dave NORV take in dinar for USD.......

NORV  does anyone understand why?

Clydesdale  But MarkZ says his connections all over the world say otherwise.......I'm betting he does not even have the phone number to 911. LOL

Dave  CBI gets to keep 2%

NORV  it is for 2 reasons... 1. to provide dollars for imports

Professor Dinard  Baseline for value?

Dave Spread

NORV and 2.. to maintain the exchange rate in iraq

NORV  maintaining the rate is accomplished by keeping an equal supply of dollars to dinars in the market

NORV  equal!

NORV  that means you cannot reduce the money supply

NORV  doing so would mess up the market rate. And in fact, because so many are taking dollars out of Iraq right now, the CBI cannot keep up with the demand..hence the 6% spread today

Dave  so we wait 90 days,,,,,,

NORV  and this is depleting the reserves.

Dave  DANG mattresss stuffers?????

Dave cough it up already.....

NORV Iraq has so much work to do

NORV  If they ever want to use the dinar in global transactions they need to accept IMF Article VIII. That cannot happen until they are in IMF compliance. Compliance comes from reducing the spread to 2% or less and maintaining it for at least 90 days. So they are months away from that.

Dave   i replace my mattress every 6=8 yrs

Floating can happen anytime that is up to the CBI..but without investment, the dinar will tank

Dave  That Dinar Mattress stuffing must be getting really woen out

NORV  They need to create a suitable investment climate… NORV  lure billions of dollars into Iraq to invest.

NORV that is why you see so many articles about investing

Dave  worn....

Clydesdale  Investments won't come without a currency with value so it's a catch 22..

NORV Clydesdale sure it will

Dave Kuwaiti Donors conference....Iraq got SQUAT

NORV  investors dont care about the exchange rate   they just want to be able to get profits out.

Dave Clydesdale No WTO either at .00086

NORV Clydesdale look at all the foreign countries with low exchange rates. investors participate in those countries. It is all about creating a suitable climate with laws to protect them

NORV Dave Iraq has nothing to export, there will be no WTO

Dave BUY ZIM!!!!!!!!

Clydesdale  Dave And that number is where some of the gurus are saying the 3 zeros will be deleted..... making it .86.

NORV You have to prioritize what Iraq needs to do.

Dave Clydesdale Bingo......

NORV  1 step, pass laws

Dave  how about exiting ch 7

NORV  create a environment for investors to want to come to Iraq

Dave  bring those wheelbarrows

Dave  with no increase in purchasing power

NORV  Dave you seem to love wheelborrows. what are you talking about?

Dave  1000 fils fer that coke....?

NORV Dave Iraq uses no more paper than we do

NORV   they just have 3 zeros on it

Dave  delete 3 zeros then what

Dave  lds and wheel barrows

Dave  1000 fils for that coke

NORV  what is the difference if you go to the store and take a 1000 dinar note to buy a coke or take a $1 bill and buy a coke. same thing

Dave coke 1000 dinar now

Dave  so 1000 fils then

NORV Dave i think you are confused. using dinar in iraq is just like using dollars.

NORV   only difference is they printed zeros on the notes

NORV  there are no wheelbarrows

NORV  no boxes

Dave  yeah MCP....here we go again....round and round and around some more

NORV   no shopping carts

Dave   :Spray:

NORV  no trunkloads

Dave  CBI...Restore the Purchasing Power of the IQD

NORV   Dave tell that to the crooked iraqi's in the government

Dave   Called the delete 3 Zero program

NORV   you want a LOP?

Dave   NORV you do.....

NORV   nope

Dave   loperonie

NORV   you need to understand that some iraqi's want to get rid of the zeros and they dont want to earn it. so they want to LOP (delete zeros) so they are on par with the world. But that wont happen

Clydesdale  Dave Or pepper

NORV  typical iraqi's take the easy way

Dave   PIP PIP fer you dont forget your wheel barrow when those Lds come out

NORV   lol

NORV  Luckily for us, the CBI is following the IMF and trying to create a strong dinar. and suitable investment climate so the economy grows

NORV  but for that to work, the GOI needs to pass laws and get private investors to come

NORV   then and only then will they get off the peg and float

NORV   allowing the dinar to gradually rise as a result of investors/investment

NORV   ok. gotta go. have fun.

NORV   :Pool:  FLOAT

xyz   sheila What happened? Is it not yet 3pm est?

9 Dec 20, 09:09 PM @sheila   Waiting for Supreme Court ruling at 3pm Eastern on Thursday.

Zig   No Name-Calling during any @NORV visit is a minor miracle :Thud::clap:

xyz   A member of the Parliamentary Finance Committee confirmed the government's intention to raise the exchange rate of the Dollar.

The owners of banking offices attributed the recent rise in the Dollar's exchange rate to the increase in demand for it by citizens, after rumors of the government's intention to raise its price.

MP Jamal Kocher said in an interview with Shafaq News agency, "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets, to reach approximately 130 thousand dinars for every 100 dollars," indicating that this step will affect the citizens and their salaries.

Kocher added, "The government's approach to reducing the deficit within the budget for next year boils down to four main steps, the first is to raise the exchange rate of the Dollar against the dinar, raise the price of the oil barrel to more than $ 42, which was previously announced by the Minister of Oil, implementing the reform paper into texts within the budget law, and finally, pressure expenditures and go to major expenditures only.

"The government must take these steps. Otherwise, there will be a huge deficit," he said. https://www.iraq-businessnews.com/2020/12/08/iraqi-mp-says-govt-to-devalue-dinar/

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