Zig’s Place Chat Room Discussion and News Tuesday PM 12-1-20

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

Xyz   Parliamentary finance is targeting the currency auction: it does not exist in all countries of the world!

Baghdad – People   The Finance Committee in the House of Representatives confirmed, on Tuesday, the need to reconsider the currency auction, while calling for it to be transferred to the Ministry of Finance.

Committee member Ahmed Al-Saffar said in a statement to the official agency, followed by "People", (1 December 2020), that "the issue of the currency window of the central bank does not exist in all countries of the world except for Iraq," adding that "standards for transparency in work for the window are absent, and not There is a daily bulletin issued for auction operations, and we do not know the dollar amounts sold."

He continued, "We stress the need to reconsider this window and transfer the matter to the Ministry of Finance, because there is confusion and overlap between the work of the Central Bank and the revenues generated from oil revenues."

Al-Saffar pointed out that "earlier it was proposed to open a customs tax office inside the bank and to complete the tax collection directly from the beneficiaries from the currency window, because the sums were paid against proof of actual imports, as the tax was transferred directly, so the government would have achieved good amounts of revenues." https://www.nasnews.com/view.php?cat=46493

Dave   Economist: floating the currency will lead Iraq to 4 negatives at the same time

Dave   Baghdad Today – Baghdad   The economic expert, Rasim al-Akidi, identified 4 negatives that would arise at the same time if the Iraqi government went to float the dollar.

Al-Aqidi said in an interview with (Baghdad Today), “The float of the dollar, or what is known as liberalizing the exchange rate, takes place through two methods, the first is pure or free, and the second is the controlled or controlled method, and in both cases the price of the dollar will rise against the Iraqi dinar and will lead to the withdrawal of a large amount of the monetary block.” in the markets”.

He added, “Withdrawing a large cash block is offset by 4 disadvantages at the same time, and the affected will be large segments, including the increase in prices in the markets in addition to the factories’ reluctance to produce because the value of profits will decrease in front of costs in addition to the absorption of per capita income and the increase in rental prices, so the interest will be limited by analogy. Other damages. ”

Al-Aqidi pointed out that “Iraq needs an economic rescue plan that starts from maximizing non-oil revenues, which are many, and keeping the influential parties away from them, because a large part of the financial resources does not go to the state treasury, and this is part of the causes of the current financial crisis in the country.”

Economists ’opinions differed on the” floating of the dinar “in front of the dollar exchange to face the deficit crisis that the financial budget suffers from.

One party believes that the measure will serve the Iraqi economy in the medium term by activating the sectors of industry and agriculture, but another party believes that it will eliminate the poor and middle classes.

The Iraqi Central Bank rejected the idea of “floating the dinar” during the next stage to increase government revenues and be able to pay employees’ salaries in the coming days, citing its fear of increasing prices and harming the vulnerable classes.

Dave   free float or the managed float?

Dave   The estimated budget for 2020 suffers from a large deficit of 50 trillion dinars. Observers expected the deficit to rise with the oil market losing about 50% of its prices.

Central Bank Governor Ali Al-Alaq said, in a study published on the Central Bank’s website, that “the devaluation of the Iraqi currency stems from an attempt to reduce the budget deficit due to growing expenditures at unprecedented rates. Prices of imported materials and goods in light of the weakness of institutions and the general turmoil.

Al-Alaq added that “Iraq’s exports are limited to crude oil, and therefore the devaluation does not affect its exports, nor does a significant additional value materialize,” noting that “Iraq’s local industry is weak and unable to compensate for imports.” He revealed that the number of employees, retirees, and those covered by social care reach 6 million, and that they will be negatively affected by this measure.

The Governor of the Central Bank of Iraq confirmed that “the external debt of Iraq will rise after the devaluation of the currency, so the amount of 5.9 trillion dinars will become 7.1 trillion dinars, while the domestic debt remains unchanged.”

“The devaluation of the currency will undermine confidence in the national currency as a result of the absence of reforms and the general instability, and the demand for the dollar will increase, as well as the weak demand for deposits in local currency and conversion to foreign currency,” Al-Alaq added.

https://baghdadtoday.news/ar/news/138763/%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D8%AA%D8%B9%D9%88%D9%8A%D9%85-%D8%A7%D9%84%D8%B9%D9%85%D9%84

Dave   either way.....CBI states....Not ready for either?

Dave   Alaq.......commenting on this White Paper reform?

Dave   Siemens mentions implementing investing in rebuilding Iraqs power grid........A no Go.....Iraq does not have the fuel to power generators

eman4u55   this is a must watch https://www.youtube.com/watch?v=RFDSUnx4fwE&t=8s

Dave   German Siemens reveals the reasons for not implementing the agreed “road map” strategy in Iraq

November 30, 2020 Walter   1,454 Sweeteners 11/30/2020 09:23 ha

Baghdad today – Baghdad  The German company Siemens confirmed, Monday (November 30, 2020), to proceed with the “road map” strategy that it agreed to implement in Iraq with previous governments, while expressing its hope to consolidate cooperation with Iraq and work to meet the country’s need for electricity during the coming period.

The company’s executive director, Musab Al-Khatib, said in a press statement, “The company has previously submitted an integrated strategy to provide electric power to Iraq in the name of (the Road Map), which included achieving self-sufficiency within four years. However, there are challenges to meet the requirements of the electricity sector, including the lack of The provision of adequate quantities of fuel affected the continuation of this plan. ”

He pointed out that “you can benefit from the associated gas to feed the power stations, and from its derivatives to support the general budget through these precious extracted materials.”

The executive director of the German company said, “The fluctuation of global oil prices and the economic decline that resulted from the Corona pandemic have affected the pace of implementation of development projects in Iraq, and these challenges are not only faced by Iraq; but are part of the challenges that the world faces.”

He continued, “We are making progress in implementing our projects, and we are optimistic about the economic policies and reform programs announced by the government, and its desire to move forward in implementing the state’s infrastructure projects, in a way that supports levels of economic performance.”   https://baghdadtoday.news/ar/

Dave   Zig just only wish it was good news

Zig   Dave : One of these days....One of these days!!!....LOL

Sheila   process... we wait for the process to reveal whatever there is to see.

EYEGUY   all of us Dinarians are good at waiting

Dave   EYEGUY  lol

EYEGUY   what are we really gonna be able to do if it happens right now ?

Dave  line up at the bank

Zig   Dave : Hotdogs with Tony....Finally....lol

Zig   You may not be familiar with that reference....lol

Sheila   Zig have heard of that reference back when he was at PTR

EYEGUY   oh yes

Zig   sheila : Yes...LOL

Dave   Alaq my Guru......

EYEGUY   just like the hotdogs with casing for that nice crunch mustard/coleslaw yum

Dave   sauerkraut....maybe

Sheila   mustard & dill relish

EYEGUY   is PTR still around ?

Sheila   yes

EYEGUY   sheila I`ll have that way too

Sheila   Dan, Gary & that Abe Treasury guy

EYEGUY   still   calling it lol

Sheila   think it's paid access now. not for me.

EYEGUY   I never paid

Dave   What of Stryker?....

EYEGUY   always something getting in the way of this happening ....although it keeps on keeping on ....like the energizer rabbit   glad I didnt go nuts and buy buy buy

Dave   but but ASN?

Dave   Cleared for landing.......

EYEGUY   decided a long time ago ...just buy what I could afford to lose and be done with it

Dave   me too....all 50 dinar......

EYEGUY   its been 10 yrs plus I would have to look at my receipt to fnd a date

EYEGUY   rounded it off at 1 million easier to figure

Dave   bought in when it was like just over 600/million

EYEGUY   your a early beleiver

EYEGUY   good price

Dave   100% ROI anint bad

Zig   Professor Dinard : LOL....you are funny at times....

Professor Dinar   Zig its cause I got my PHd in clown college

Dave   thought trump University

Zig   Takes a lot of skill to be a good clown....have been some very famous clowns....

Professor Dinard   Dave no I would've been a millionbajillionaire with keys to dinar RV if I did that

Professor Dinard   Zig  it sure does. Like the skill of absolutely not thinking for yourself at all. I see a lot of fellow peers in here

Zig   Ouch

Professor Dinard   My favorite clown is Gavin "you can't eat at a restaurant but I can go to fancy restaurant" newsom

Dave   Zig Best get prepared.....Canada has CHinese Military at its border ready to invade on Bidens request

NORV   Warning Against "Floating Currency" To Raise The Price Of The Dollar Against The Iraqi Dinar

On December 1, 2020   Al-Mustaqila / - The economist Rasim al-Akidi said that the floating of the dollar, or what is known as the liberalization of the exchange rate, takes place through two methods, the first is pure or free, and the second is the controlled or controlled method, and in both cases the price of the dollar will rise against the Iraqi dinar and will lead to the withdrawal of a large amount of the monetary mass in Markets.

Al-Akidi added that the withdrawal of a large cash block corresponds to 4 drawbacks at the same time, and the affected population will be large segments, including the increase in prices in the markets in addition to the factories ’reluctance to produce because the value of profits will decrease in front of the costs in addition to the absorption of per capita income and the increase in rental prices. Other damages.

According to Al-Aqidi, Iraq needs an economic rescue plan that starts from maximizing non-oil revenues, which are many, and keeping the influential parties away from them, because a large part of the financial resources does not go to the state treasury, and this is part of the causes of the current financial crisis in the country.

Economists ’opinions differed on the“ floating of the dinar ”in front of the dollar exchange to face the deficit crisis in the financial budget.

One party believes that the procedure will serve the Iraqi economy in the medium term by activating the industrial and agricultural sectors, but another party believes that it will eliminate the poor and middle classes.

The Central Bank of Iraq rejected the idea of ​​"floating the dinar" during the next stage to increase government revenues and be able to pay employees' salaries during the coming days, citing its fear of increasing prices and harming the vulnerable classes.

The estimated budget for 2021 Dec 20, 04:36 PM NORV   suffers from a large deficit of 50 trillion dinars. Observers expected the deficit to rise with the oil market losing about 50% of its prices.

NORV   https://mustaqila.com/%D8%A7%D9%84%D8%AA%D8%AD%D8%B0%D9%8A%D8%B1-%D9%85%D9%86-%D8%AA%D8%B9%D9%88%D9%8A%D9%85-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D9%84%D8%B1%D9%81%D8%B9-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%AF%D9%88/

xyz   NORV do you hang around searching for float?

NORV   This does not mean they won't float, it just means it is not a good time to float. But eventually they will.

Xyz   NORV is it right time to rv? Its ok @Kaperoni you can say it. Poor Z will not laugh at you buddy

Zig   I want my RV!!....and I want it now!!!!

Zig   I think @Dave posted that article earlier as well....

Zig: Refferals Will now be the only way we acquire new members...Only registered members who have been "activated" will have access and be able to post...If you would like to refer someone simply ask him/her to register, and make sure you know the username being registered...

Then simply address me in chat, writing that you have a referral, but please don't post the username...Once I see that someone new has registered I will ask you if that is your referral, then will activate them, etc....If you know someone here and wish to be an active member, I suggest that you contact him/her and ask to be referred...... :coffee: ......All Referrals are thoroughly vetted

Zig   The Chat Room will remain this way....I will no longer unlock it from time to time so anyone may post as a guest, etc....This way works best for me for various reasons...I do hope our current members refer others....if you would like to be a member here and recognize someone here, just contact them for a referral...

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