Zig’s Place Chatroom News Saturday PM 1-22-22

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

Butterfly   US Senator: The US Economy Enriches The Rich And Exacerbates The Plight Of The Poor

International  Last Update 01/22/22 | 4:29 PM Independent US Senator Bernie Sander has decried the fraudulent political and economic system in the United States that has allowed billionaires to get richer during the pandemic while others suffer financial hardship.

"The rigged economic and political system is when billionaires spend $1.2 billion in campaign contributions to buy politicians in the last elections, get richer by $2 trillion during the pandemic and don't pay," Sanders said in a tweet on his personal page on the social networking site Twitter. Taxes are less than what the nurse pays.”

In another tweet, he added, “The campaign finance system should be repealed in reference to a controversial January 21, 2010 decision by the Supreme Court that repealed a century-old campaign finance restriction, as the court ruled that corporations, unions and wealthy donors have the right to Freedom of expression and in spending unlimited money to influence the US elections.”

He continued, "A new report released by the Institute for Policy Studies Oxfam said that the richest individuals in America have seen their number increase in the past five years, with American billionaires increasing their wealth by $2 trillion during the pandemic alone."

He explained, “According to the report, there are 2,660 billionaires worldwide. As of November 30, 2021, these billionaires had a combined fortune of $13.76 trillion. The United States alone and 740 of these billionaires together own $5.1 trillion.”

The report indicated that “a wealth tax of 2% for individuals who own more than $ 5 million, 3% for those who have more than $ 50 million, and 5% for those who have more than one billion dollars will generate $ 928.39 billion annually, and this amount is sufficient to cover The largest and most prominent part of the US federal spending that suffers from difficulties and inflation.”

butterfly   https://almaalomah.me/2022/01/22/578021/

butterfly  Bitcoin Plunges 48%, And A Trillion Dollars Evaporated In Days

Economic   Last Update 01/22/22 | 2:56 PM   The losses of the most famous cryptocurrency "Bitcoin" deepened, to plunge, today, Saturday, below 36,000 dollars, losing 48% of its highest value achieved above 69,000 dollars last November.

Bitcoin's tumble has lost $600 billion in market value, and has evaporated more than $1 trillion from the entire cryptocurrency market.

The declines in the cryptocurrency market are exacerbated with the intention of the Federal Reserve (the US central bank) to withdraw stimulus from the market.

As a result, the most risky assets worldwide suffered, and Bitcoin, the largest crypto asset in value, lost more than 12% Friday and plunged 9% today, Saturday, and its losses amounted to about 18% over the past 7 days.

The cryptocurrency market has been mired in the dangers of easing US fiscal stimulus, raising interest rates on the dollar, and accordingly other cryptocurrencies such as Ethereum and meme have fallen by more than 45% over the past few weeks.

Cryptocurrencies have been hit by a proposal by the Russian Central Bank to ban the use and mining of cryptocurrencies. Russia is one of the world's leading bitcoin mining sites. https://almaalomah.me/2022/01/22/578000/'

butterfly   Al-Maliki Tweets About The Position Of The Coordination Framework On Forming The Government

Politician  Last Update 01/22/22 | 2:30 PM

The head of the State of Law coalition, Nuri al-Maliki, commented today, Saturday, regarding the position of the coordination framework on forming the government.

Al-Maliki said in a tweet to him via the “Twitter” platform, which was seen by the agency "Information", "For those who ask about the framework out of concern, we say that the coordinating framework is strong and coherent and its position is unified, and its practical ideas for forming the government and managing the state are based on partnership and the integration of the components in it all under Constitution ceiling.

He added, "The framework is unanimous in adhering to one position regarding (participation or non-participation), and it is keen that all parties meet in consensual coalition formations to prevent any case of deterioration of the political process." https://almaalomah.me/2022/01/22/577989/

Zig   butterfly : Wow...do you have any Bitcoin?....I do not.

butterfly  Zig no   I have some Iraqi coins

Zig    I think @UNEEK has Bitcoin

butterfly  I remember way back when a friend of mine bought gold. I ask if she had the gold in her possession, she said no. What? Why would you invest in something that you don't have in your possession. She wound up losing everything.

UNEEK   Zig butterfly good morning and yes I have a little crypto

butterfly   Do you have the possession of it UNEEK

UNEEK  butterfly ha ha -

Zig  Virtual possession....lol

UNEEK  digital possession in a digital wallet - have been meaning / planning to cash out for several months but have not - I wish 1000 times I had bought silver instead    I trusted the wrong person

butterfly  I just went through all of my dinar and lordy I could not believe how much I have.

butterfly   Here is another article on bitcoin:

What awaits Bitcoin in 2022?

- 15 Hours Ago Coinciding with the protests and turmoil that shook Kazakhstan, one of the 3 most important countries in the world in mining virtual currencies, the price of Bitcoin fell in early January to below $ 40,000.

In a report published by the Russian newspaper "Gazeta", writer Oksana Reshetova says that the price of Bitcoin witnessed a slight increase on January 11, as it was traded in the range of 41,700 dollars.

A number of experts believe that the political crisis in Kazakhstan played an important role in this decline, as the country's share of global Bitcoin mining is about 18%, but there are other factors that contributed to the decline in the price of the first digital currency in the world.

Why Did Bitcoin Prices Drop?

Artem Dave, principal analyst at AMarkets, believes that the decline in the exchange rate of Bitcoin and other cryptocurrencies at the end of last year is mainly due to new actions in the stock market.

Dave stresses that after the annual inflation rate in the United States rose to 6.2%, a record level not seen in the United States in more than 30 years, it has become clear that the Federal Reserve is close to tightening monetary policy by raising interest rates.

Dave continues that the returns from investing in stocks, currencies and all risky assets, including cryptocurrencies, automatically decline with the increase in interest rates, so investors during the last period avoided the risk of buying bitcoin, ether and other digital currencies.

butterfly   Dave believes that the developments in the situation in Kazakhstan have also had a negative impact on the Bitcoin exchange rate.

For his part, Sergey Berikhod, a financial analyst at Finam Financial Services, says that the volume of mining in Kazakhstan has witnessed a significant development after the mass exodus of workers in this field from China, due to the pressure exerted by the Chinese authorities on digital currencies.

Berekhod adds that Kazakhstan has become the third-largest cryptocurrency mining world in the world, and as a result of the internet shutdown following the escalation of anti-government protests, the total computing power of mining equipment has decreased by 13%.

But the expert in the crypto-asset market Aaron Chomsky believes that the events in Kazakhstan have not affected the cryptocurrency market, and that the decline in the prices of these currencies is due only to the levels of supply and demand.

The value of the currency last November reached its highest level, exceeding the threshold of 68,000 dollars. With demand falling, Chomsky expects the value of Bitcoin to fall below $30,000.

Butterfly   What will happen to bitcoin in 2022?

Dave believes that the rise in the price of Bitcoin and other cryptocurrencies during the coming period is related to the stability of the global economy and the reduction of interest rates by central banks, because such conditions will attract investors to risky assets.

“Given that this year will see a period of large-scale increases in interest rates by banks, it is unlikely that there will be any rise before the second half of 2022, when investors return strongly to cryptocurrencies. This could happen if the bitcoin traded price reached between $20,000 and $30,000.”

“The lower value of the assets will tempt many to invest in cryptocurrencies, and at a later stage push prices higher,” Dave continues.

For his part, Berekhod believes that the US stock market has put great pressure on cryptocurrencies, and on Bitcoin in particular, recently. It is believed that at worst, the exchange rate could reach $36,000.

According to Chomsky, the faster the Bitcoin price declines around $30,000, the higher the chances of it returning quickly to its previous highs, and this may happen in the second half of 2022.

Source: Russian press https://rawabetcenter.com/archives/141358

Sheila   butterfly bird in the hand - still great advice

butterfly   The military in Iraq are listening to the guidance of the US forces, not like those in Afghanistan: Iraqi military intelligence destroys an ISIS tunnel near Erbil 2022-01-22 07:02

Shafaq News/ The Iraqi military intelligence destroyed an ISIS tunnel near the capital of the Kurdistan Region, Erbil, earlier today, Saturday.

A statement by the intelligence agency affiliated with the Ministry of Defense said that the 8th mechanized division reconnaissance unit carried out a search campaign in the village of Katka in Altun Kupri district, Kirkuk.

"During the operation, the forces located a tunnel used by ISIS operatives as a hideout and weapons depot. The tunnel was detonated under controlled circumstances by the explosives squad accompanying the force," the statement said.

In another statement, the military intelligence said that a total of 21 10-liters explosive devices were found in al-Sabhat village in al-Anbar governorate.

The explosives were destroyed by the explosives squad accompanying the force on duty, according to the statement. https://www.shafaq.com/en/Iraq-News/Iraqi-military-intelligence-destroys-an-ISIS-tunnel-near-Erbil

butterfly  After al-Hasakeh prison break, Iraq ramps up security in prisons housing ISIS commanders 2022-01-22 07:08

Shafaq News/ Iraqi security authorities ramped up security measures in and near the prisons housing members and commanders of the terrorist organization ISIS, a source revealed on Saturday.

The source told Shafaq News Agency, "senior commanders directed tightening security measures in the prisons where ISIS commanders are detained."

"Tight security measures were taken in the prisons of al-Taji, al-Kefl, al-Hout. The directive was issued in the aftermath of the attack on the Geweran prison in the Syrian city of al-Hasakeh and the prison break of senior ISIS commanders detained there."

Kurdish-led forces in northeast Syria on Thursday said they thwarted a prison break at a detention center holding ISIS militants.

A spokesperson for the US-backed Syrian Democratic Forces (SDF) said a car bomb was set off near Geweran prison in Hasakah province.

The "insurgence coincided w/a car bomb explosion near the prison conducted by ISIS sleeper cells, who infiltrated from the surrounding neighborhoods" and clashed with internal security forces, tweeted SDF spokesperson Farhad Shami, using the Arabic acronym for ISIS.

"In an attempt to create chaos, the Daesh detainees burned blankets and plastic materials inside dormitories," Shami said. "The members of terrorist cells who attacked the prison from outside fled to al-Zohour neighborhood near the prison and hid in civilian homes, and our forces imposed a security cordon around the area."

According to two residents cited by Reuters, several inmates were killed in the episode. The Syrian Observatory for Human Rights, a UK-based war monitor, said "a number of prisoners managed to escape."

The prison unrest comes amid a recent rise in sleeper cell attacks, particularly in Syria's Deir ez-Zor region.

butterfly  Nearly three years after IS lost its final stronghold in the Syrian town of Baghouz, the group has been exploiting the country's economic crisis to lure new recruits. Prison officials and current detainees in Hasakah told Al-Monitor that IS is offering irresistible sums of money to poor Syrians willing to join their ranks.

The SDF and its political arm, the Syrian Democratic Council (SDC), have long asked the United States and coalition partners for additional support in securing the detention facilities housing thousands of IS prisoners, many of whom Western governments have refused to repatriate and prosecute.

Sinam Mohamad, the SDC's top diplomat in Washington, tweeted Thursday that the prisons and the potential for detainees to escape remains a threat to northeast Syria.

"A solution should be found to keep the region stable and secure," she said. https://www.shafaq.com/en/Iraq-News/After-al-Hasakeh-prison-break-Iraq-ramps-up-security-in-prisons-housing-ISIS-commanders

Butterfly   LINK

Today, Saturday, the dollar exchange rates remained stable in the local markets.

And the selling prices of the dollar were recorded at 148,300 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148,200 dinars per 100 dollars.

and decided Central Bank of Iraq Earlier, the exchange rate of the dollar against the Iraqi dinar was adjusted, as the purchase price of the dollar reached Ministry of Finance 1450 dinars, and the selling price to banks was set at 1460 dinars per dollar, while the selling price to citizens is 1470 dinars per dollar.

butterfly   Energy transition may shave $75tn off global economy by 2050, Wood Mackenzie says

The global economy is set to double in size in real terms to $169tn by mid-century, but the push to reach Paris Climate goal of 1.5°C will knock off 2% of global GDP Jan 22, 2022 ............................. An accelerated energy transition to mitigate climate risk will have tangible economic implications and may shave $75 trillion off global gross domestic product between 2022 and 2050 as countries push to meet their climate commitments.

The global economy is set to double in size in real terms, rising to $169tn by mid-century from the current $85.6tn, Wood Mackenzie said in its latest report detailing economic consequences of energy transition.

Under its base case scenario, the research company expects temperatures to reach 2.5-2.7°C above pre-industrial levels by mid-century. However, to limit this warming to 1.5°C, in line with the Paris climate pledge, the energy transition will have to accelerate.

Measures to lower temperature will boost global GDP, on aggregate, by 1.6 per cent by 2050, Wood Mackenzie estimates. At the same time, however, the actions required to successfully mitigate climate risks could slash output by 3.6 per cent. The push to cap levels at 1.5°C agreed in the Paris Climate Accord will result in net drop of about 2 per cent by 2050. More in article: https://www.thenationalnews.com/business/economy/2022/01/22/energy-transition-may-shave-75tn-off-global-economy-by-2050-wood-mackenzie-says/

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