Zig’s Place Chatroom News Thursday AM 10-14-21

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

Below text / article from butterfly was posted earlier but mentioning again to help with the response from Kap early this am In reference to the article -

Butterfly  THIS IS WHAT WE HAVE BEEN WAITING FOR FOLKS:

Sheila   wonderful

13 Oct 21, 08:42 AM butterfly   Governor of the Central Bank of the Emirates: The UAE dirham will become an international currency

Wednesday 13 October 2021 12:46 The Governor of the Central Bank of the Emirates, Khaled Mohammed Balama, confirmed during the activities of the "Future of the Financial System" conference held at the "Dubai Exhibition Center" at Expo 2020 Dubai that the central bank will work on making the UAE dirham an international currency that is widely used internationally to complete global payments and transactions. cross-border trade.

Balama added: We have developed a road map for the next five decades in line with the ten principles of the UAE based on three pillars: adopting the use of artificial intelligence and big data in the banking and insurance sectors, adopting digital identity to enhance financial inclusion and allowing small and medium-sized companies to reach their goals, and developing a strategy Open financial system work system and facilitate data sharing between financial institutions and service distributors. https://ninanews.com/Website/News/Details?key=932955

butterfly   Economist to Nina: After the rise in oil prices, the price of a barrel should be $70 instead of $50 in the 2022 budget

Wednesday 13 October 2021 09:46 The expert in economic affairs, Safwan Qusay, called on the makers of the federal budget for the year 2022 to reconsider the hypothetical price of a barrel of oil, which amounts to $50, to be $70.

Qusay said in a statement to the National Iraqi News Agency / NINA/ After Brent oil prices crossed the $80 barrier, it became clear that the federal budget deficit for the year 2021 of $20 billion has been fully covered, calling on the maker of the federal budget for 2022 to reconsider the hypothetical price of a barrel of oil of $50 as stated by the Ministry of Oil to be $70, and this will allow building a budget that activates the investment movement in the infrastructure sector by activating the Chinese oil-for-projects agreement and the possibility of activating the same formula to deal with American and European multinational companies in order to rebuild the pharmaceutical, agricultural and technology sectors to create a financially stable environment through diversifying Sources of income.” And he

He continued: We must move to the process of investing in creativity by rehabilitating research centers in all sectors to create a knowledge partner that invests in Iraqi knowledge capabilities and re-markets them to be the most important source of income, even after a while.   https://ninanews.com/Website/News/Details?key=932905''

Butterfly   Doug_W did you see what I posted? digital and international

Doug_W   butterfly yes thanks

butterfly   Doug_W now we wait to see if it really happens.

Doug_W  again LOL  or is that STILL?

Butterfly    find it very interesting that they are even discussing digital and international

14 Oct 21, 06:49 AM Zig   Email from @NORV AKA @Kaperoni regarding the @butterfly article from 10/13 at 8:42 AM......."Most of the Middle East, including Iraq, are going to a digital currency, not a joint currency with other countries but their own individual digital currency which will be the dinar...

This has been in the news for months; they are in the process of creating their digital dinar... it is nothing more than what is in the United States with our digital banking system... Iraqis will be paid electronically, they will have transactions electronically, of course via the ATM machines... And everything else to make a fully digital platform...

At some point they will accept Article VIII of the IMF and make it an international digital currency... But I don't expect that to occur until they remove the physical paper notes which have to be removed from Iraq and there are over 80 trillion of them now in circulation mostly in mattresses...

But eventually when they are completely digital and have reduced the money supply they can begin to raise the value based on the economic growth in the country... This is not a random act, it is the result of inflation that will begin to accrue as a result of the market economy success, and raising the value will counter that inflation... This is what I've been telling you for years, it's just that they've chosen to go with the digital electronic platform as the mechanism to perpetuate the transition forward...

Of course if they don't succeed with their economic transition, the alternative is to delete the zeros or LOP, as they have threatened on numerous occasions... Of course that is a neutral event and there would be very little gain". Kap

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