Zig’s Place Chatroom News Early Sunday Afternoon 12-12-21
Zig’s Place Chatroom News Early Sunday Afternoon 12-12-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Signing a banking memorandum of understanding between Iraq and the UAE
Sunday 12 December 2021 The Central Bank of Iraq signed a memorandum of understanding with the Central Bank of the United Arab Emirates on strengthening cooperation and developing banking relations between the two brotherly countries.
According to a bank statement, the two sides stressed the importance of developing banking relations, training cadres, facilitating the transactions of the private banking sector on both sides, and opening opposite accounts in a way that ensures compliance with international standards and taking due diligence in accordance with anti-money laundering and terrorist financing laws. https://ninanews.com/Website/News/Details?key=944360
butterfly A Country Neighboring Iraq Is Preparing To Launch Its Own Digital Currency
ECONOMIC 12/12/2021 | 3:38 PM The Governor of the Central Bank of Iran, Ali Salehabadi, announced today, Sunday, that "the national digital currency will be launched soon on a trial basis."
During a meeting with the heads of missions of the Islamic Republic of Iran in neighboring countries, Ali Salehabadi said: "With regard to liberating our sources of hard currency, good measures have been taken, and the capabilities of the Central Bank to manage the foreign exchange market have doubled."
Abadi added: "The Central Bank is working seriously to facilitate the securing of foreign exchange from small exporters, in cooperation with the competent authorities and through specific mechanisms." https://almaalomah.me/2021/12/12/570393/
12 Dec 21, 10:19 AM butterfly An Economist Explains The Most Important Ways To Get Rid Of Internal And External Debts
Economic Last Update 12/12/2021 | 9:15 AM The economic expert, Dr. Safwan Qusay, explained that Iraq has the possibility to get rid of internal and external debts by relying on public and private sector companies and transfer part of the debt towards these companies and internal and external investments.
Qusay told Al-Maalouma, "Iraq does not currently need internal or external borrowing, and it should work at the present time to gradually reduce and zero its debts over the next five years."
He added, "The next government, if it thinks of paying, can transfer a portion of the indebtedness to the private sector and profit-oriented public companies, as a path to repay these internal debts."
And he indicated that "Iraq can pay off foreign debts by forcing the investor to buy debts for specific investment opportunities, especially at the level of profitable opportunities in the petrochemical industry or other industries."
He pointed out that "if the government adopts the method of investing in exchange for debt purchase, or reducing the indebtedness of the Ministry of Finance in some public companies in exchange for transferring this internal indebtedness to the profitable oil and transport companies, it is possible to zero the debts." https://almaalomah.me/2021/12/12/570267/
butterfly 2021-12-12 09:00 Shafaq News/ The U.S. dollar (USD) exchange rates against the Iraqi dinar (IQD) stabilized in Baghdad today evening.
Shafaq News Agency correspondent said that the Central al-Kifah and Al-Harithiya exchanges are trading the USD at a rate of 148200 IQD to 100.
Our correspondent said that the buying and selling rates of 100 USD in the local markets of the Iraqi capital stood at 148750 and 147750 IQD, respectively. https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-stabilize-in-Baghdad-2
Hell
butterfly 2021-12-12 08:13 Shafaq News/ The Iraq Stock Exchange (ISX) traded more than seven billion equities valued at more than seven billion dinars last week.
A report of the market obtained by Shafaq News agency said, "47 publicly traded companies cast out of 105 enlisted companies," indicating, "36 did not cast out for buying and selling prices disparity. In addition, 22 companies were delisted by the Iraqi Securities Commission for violating the disclosure regulations."
"7,810,446,000 equities were traded this week, down by 13.52% the previous session, at a value of 7,367,953 billion dinars, down by 5.67% compared to the week before, via 4054 transactions made last week."
"ISX60 index closed at 561.57, 0.28% above last session's closure," the report added.
It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009. It organizes five weekly sessions and lists 105 public companies from different economic sectors. https://www.shafaq.com/en/Economy/ISX-traded-7-billion-dinars-worth-of-equities-last-week-report
butterfly 2021-12-12 06:21 Shafaq News/ The Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Makhif, inaugurated on Sunday the activities of the Iraqi Banking Week in Iraq's pavilion in Expo Dubai 2021.
The inauguration ceremonials were attended by the head of the Arab Monetary Fund (AMF) Abdul-Rahman al-Abidi, the head of Iraq's Private Banks Association Wadi' al-Handhal, a group of CBI senior officials, and board directors of private banks.
"The activities of the Banks week in Iraq's pavilion significantly contributes to opening the Iraqi banking sector to the Arab and international world," Makhif said in his keynote speech, "CBI's supervision contributed to its development."
Makhif added that Iraqi banks have been expanding outside the country, which boosted their credit rating by specialized agencies.
"Iraq has become an attractive arena for investments, which requires an efficient banking sector to keep up with that," he continued.
The head of AMF appraised the successful policy of CBI and Makhif's efforts to ensure the openness of Iraq's banking sector to the world.
The Iraqi Private Banks Association chair, Wadi' al-Handhal shed light upon the centrality of the banking sector for economic progress and the role of this event in revitalizing the ties with the banking sector in the world. https://www.shafaq.com/en/Economy/Expo-Dubai-hosts-Iraqi-Banks-Week-CBI-governor-Iraqi-banks-are-expanding-overseas
Sparky ... anybody listen to Kap's call ?
Dave Iraq soon out of Ch7........Federal court gonna hopefully ratify election results hopefully as soon as tomorrow.......
Sparky Dave ... what about antiquities and bodies returned ...
Dave yep just to pay kuwait now antiquities and bodies returned ...DONE
Sparky Dave ... when did that occur ?
Dave 1-2 yrs ish
Sparky ... hmmmm ....... ok ...
Dave hmmm?
Sparky ... thought that was still a CH 7 issue ...
Dave peeps been arguing with me about Iraq being out of Ch7
Dave missing bodies was an issue...no longer
Bobby Cahill Actually it's still an issue and will continue to be. Is it CH VII worthy, nope. But it hasn't gone away. CH VII isn't that big of a deal since 2013
Dave Bobby Cahill CBI could have cleared that up in a heart beat?
Bobby Cahill Well they received their $8, or so billion, so that helped. Iraq has had clear sailing for 8 years
Dave No WTO while Ch7
Bobby Cahill $82 oops,,, Dave Why's that?
Dave Sanctions..... being spanked by UN fer not playing nice
Bobby Cahill So all the Trade agreements with the US, China, Saudi, Turkey, Jordan Europe are sanctioned?
Dave MOUs......
Bobby Cahill Oh and Kuwait :)
Dave plenty of Mous
Bobby Cahill And plenty of Trade
Dave Big Oil.......restarting negotiations...Chevron… had pulled out
Bobby Cahill Iraq's Oil Industry, one of the most corrupt in Iraq, won't see full capacity and returns without a HCL
Dave yep..... White Paper.... :Fingerscrossed:
Bobby Cahill I think Dinaro World, not including yourself, jump pn CHVII likes it the automatic event/trigger for a revalue. That will come and go just as it did in 2013
Bobby Cahill 2013 told us there are no restrictions on Iraq and the Global Community
Dave CBI aint ready as it is now
Bobby Cahill CBI has to wait on a viable economic policy and results
Sparky ... we're at the same place as jump street ..
Dave Who would invest in Iraq currently....
Bobby Cahill Not A lot because there's rally no 1 window policy
Bobby Cahill That said, they are rebuilding and using the IQD
Dave Kuwaiti/Baghdad conference was a bust
Bobby Cahill Dave That was a hopeful time
Sparky Bobby Cahill ... as it devalues ...
Dave Bobby Cahill IRAQ GOVT has passed nodda in 15 yrs
Sparky ... I thought 1170 was the bottom ...
Bobby Cahill it could devalue to 1600 but still has value. All the devalue did was afford the GOI to undig it's grave and stop borrowing
Dave HCL 140 private banking laws
Bobby Cahill 140 will NEVER see the light of day until they ammend their Constitution
Dave Sparky Most nations in World facing inflation
Dave Iraq does not have a buffer\
Dave We all paying more.......fer everything
Sparky ... blue moon or black swan ...
Sparky ... I don't see this going anywhere quick...
Dave Bobby Cahill you mean implement the articles of their constitution
Sparky ... the corruption machine, with Iran ......Maliki's puppet for Iranian influence ...
Dave Sparky Iraq needs to get electricity from somewhere
Sparky ... they are like Texas ...
Bobby Cahill Dave Yep and that's why 140 will never see the ligfht of day. It's impossible to implement
Sparky ... full of it ...
Dave Sparky seen pics of their power grid?
Sparky ... nope ...... should have been done ten years ago ...
Dave Bobby Cahill White Paper gives me hope....Sadr dont like to fool around...does not like Maliki
Bobby Cahill Dave WP's are amazing and Sadr's still; an idiot
Dave corruption tops on his White Paper reforms
Sparky ... complete ... and suppling other neighbors ... the gas they flame could light up europe ...
Bobby Cahill Sparky and save them billions
Sparky ... and make them billions ...
Bobby Cahill there ya go
Dave provide them power too...lol
Sparky ... it's a power grab ...
Sparky ... kep the poor poor, and steal the wealth of their nation ...
PM Dave 780 billion usd disappeared 65 billion fer M........not bad......
Sparky ... KC rollin' over LV ...
Dave Allawi 33 billion....hes squawking now
Sparky ... richest ... Barzani and Maliki ...
Dave yepp
Dave Richest politicians in the World
Sparky ... hard to stay in this game, the more we learn ...
Dave why those Conferences were a bust
Dave invest in THAT? Elections rigged?????? we be screwed is my take
Bobby Cahill Strange thing is that if all that is true, why are those funds being frozen? Gotta look at it as it's either US or Euro right? So the US and EU can freeze those. I read an article the other day about Barzani owning a CVS in Miami lol. Corrupt protect the corrupt. Don't forget the US issued and official EO in 207 talking about do just that, freezing corrupt assets
Bobby Cahill why aren't......oops
Sparky ... Bobby Cahill ...I read that ...
Bobby Cahill 201 also. typing sucks
Bobby Cahill 2017 dang
Sparky Florida ...
Bobby Cahill Yeah they call him the Drugstore Cowboy lol
Dave UNSC lists IRAQ....CH7....asset freeze on banking
Bobby Cahill what assets?
Bobby Cahill the 82 billion?
Dave 64 million now .....????
Dave to be paid by 2022
Bobby Cahill Well the 82 under sanctions was given back in 2013
Bobby Cahill Along with the DFI monies
Dave Bobby Cahill Butterfly posted some news on that days ago
Bobby Cahill Yeah we have to look at these articles and go back historically and see how it relates. In this case they were talking about historical Iraq
Dave COI cant collect on frozen accounts until out of Ch7......250 billion usd at least
Bobby Cahill This is from the publication Diplomatic Courier and a Q & A with the Iraqi Ambassador
Bobby Cahill [DC:] With the lifting of Chapter 7 sanctions in June 2013, $82 billion in frozen assets were released and Iraq once again has control of its oil revenues and policy. Specifically, where will this help Iraq’s economic development?
[LF:] For the first time in over two decades, Iraq participated in the United Nations General Assembly this year as a fully-fledged member of the international community, following its removal from Chapter 7 of the UN Charter. The lifting of sanctions gives Iraq and international companies the ability to do direct business, specifically in the areas where the sanctions had the most impact. For example, in an effort to rehabilitate its national carrier, Iraq recently purchased 30 Boeing planes.
Sparky Bobby Cahill ... historical Iraq carried a $2.70 ... without so much Dinar in circulation ...
Bobby Cahill Sparky And Iraq alsohad a differnt currency structure
Sparky ... swiss dinar ...
Dave Bobby Cahill Iraq still Ch7.......need the links......apparently UN has not changed that from 2013?
Bobby Cahill Heck most of Iraq's debt is Sadam debt and most of the current sanctions are Sadam related
Dave not sure what kinda of CH7 means?
Sparky Bobby Cahill ... Sadam made up his own value ...
Bobby Cahill Dave That's where we have to look at the overall picture in Iraq and what they are being allowed to do, and not do. So far there is nothing restricting Iraq as a country from entering the global markets. Just today they are participating in a banking expo
Dave Sparky Swiss Dinar had a value
Bobby Cahill Iraq's problem is tat they can neither support, or sustain an economy or currency value
Sparky ... I don't even think he wanted to trade outside North Africa ... stole 100$USD notesnto try and subvert the USA economy ...
Dave Bobby Cahill My take CBI dont want it it yet....could force their hand?
Bobby Cahill Dave The CBI knows for a fact that there is NO way to take the currenct IQD to FOREX or international trade
Dave pretty much
Bobby Cahill Thjey are looking at the 4 numbers just like we are. Then there are the 4 stability's as well
Sparky ... Sadams mission was to subvert the USA economy ... fact ...
Bobby Cahill so 4 different set of stabilitys
Dave social ecomomic and political
Bobby Cahill and monetary The monetary is leading the race towards stability .. BVut the Banking Sector needs help
Sparky ... GWB placed him there when he washead of the CIA in the '70s ...
Dave No private banking laws yet to protect foreign investment
Bobby Cahill Well they have an Investment Law that provides protection, even a single window for investors, it's just not implemented properly
Dave Bobby Cahill yes need to get folks to get to the banks and make loans
Sparky ... sorry, not W ... his father ...GHB ...
Dave Bobby Cahill need 3rdr reading...Done?
Bobby Cahill On the Investment Law? It's already in the Gazette
Sparky ... all the puppets in the middle east, we put there ...
Bobby Cahill Some say it needs amending and that may be true, but on it's own, it's a sound law
Dave Bobby Cahill ????? missed that boat
Sparky ... if they even think of a golden dinar, they take a dirt nap ...
Bobby Cahill Investors look at Iraq just as we do. They see potential, just no Political will. They also want to see those stability's
Dave Bobby Cahill Bingo....Look at the UAE
Sparky ... every oil transaction is in USD ... think about that ...
Bobby Cahill https://investmentpolicy.unctad.org/investment-laws/laws/205/iraq-investment-law-
Dave Sparky CBI converts it to IQD....how they make money on the spread? Worlds currencies based on USD
Bobby Cahill The 5 Majors (IMF SDR Basket) control the world of currencies
Dave USD still KING?
Bobby Cahill I saw where Billy Goat said Iraq would be in that Baskey. What a nutcase
Bobby Cahill Still king but losing it's % in the SDR Basket
Sparky Dave ... the exchange is how they survive ... as I know ...
Dave and those infamous auctions
Sparky ... but, then again, I know squat ...
Dave Sparky dont listen to Kap then?
Bobby Cahill That's another thing that if implemented properly, would be fine. But once the Banks get involved, so does Plitics ……..Politics ……. Maybe my keyboard needs new batteries
Sparky Dave ... Kaps a good dude, and believes what he believes ...
Dave Bobby Cahill 1 yr ago 30% of Iraqis had bank accounts
Bobby Cahill The CBI has pulled it's hair out on Financial Inclusion. Trust issues for sure
Dave must be surviving from all thoses notes stuffed in mattresses
Bobby Cahill The only thing that will get all that into the Banks is a revalue or redenomination'
Bobby Cahill The devalues keep eroding that trust
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