Zig’s Place Chatroom News Wednesday AM 2-2-22

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Butterfly   CBI sells +80$ million in the currency auction today 2022-02-02 08:43

Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $80 million in foreign currency today, Wednesday.  Shafaq News Agency correspondent said that the CBI sales of foreign currency in this today’s auction amounted to $208,935,000. The transactions were made at a weighted average of 1460 dinars to every dollar.

Our correspondent explained that 19 banks and 278 exchange companies cashed out $80,460,000, while the remaining $128,475,000 went to boost funds abroad in the form of credit and non-cash transactions, with 28 banks meeting those demands. https://www.shafaq.com/en/Economy/CBI-sells-80-million-in-the-currency-auction-today

Zig   For you numerologists: Today is 2/2/22

Zig   FYI: This chat is copied by both Dinar Detectives https://dinardetectives.com/ and by Dinar Recaps https://dinarrecaps.com/our-blog mostly because of what butterfly posts so more people than you may think read this chat....

butterfly   An Economist Reveals The Reasons For The Increase In Inflation In Iraq

ECONOMIC  02/02/2022 | 7:12 PM  The economic expert, Ali Al-Fariji, revealed, on Tuesday, the reasons for the increase in the rate of inflation in Iraq and linking it to the bad financial and economic policy of the Iraqi government.

Al-Fraiji told the "Information" agency, "The increase in inflation in Iraq, especially the capital, Baghdad, to more than 25 percent over the year 2012, especially in the health and food aspects, is due to several economic factors under the title "poor financial policy and management of the Iraqi economy," noting that "there are Very big confusions are taking place in the financial and economic policies in Iraq.”

He added, "The bumps in the inflation rate, the rise in food and health prices, the dangerous and unjustified rise rates in the real estate market and the rise in the value of the dollar lead to negative rebounds on the economic side," noting that "the lack of proper control by the state on many economic sectors, work and movement." The commercial real estate market and the commercial exchange with the outside has become uncontrolled and its doors are open to the greed of traders and beneficiaries, and thus the occurrence of these economic turmoil.”

The expert explained that “when there is a major economic crisis in all countries that prepare themselves economically, there is a kind of economic discipline imposed by the state to try to absorb these economic shocks,” noting that “what is happening in Iraq is far from all sound economic approaches and without a fiscal policy. A clear and reliable economic.” https://almaalomah.me/2022/02/01/579952/

butterfly   Billion In Losses For OPEC For The Year $21 2021

ECONOMIC  02/02/2022 | 5:14 PM   New data showed, on Tuesday, that the production losses of the oil-exporting countries (OPEC) amounted to 21 billion dollars in lost revenues in 2021.

And Reuters said in a report translated by the agency "Information", that "data showed that OPEC missed its target to produce oil by more than 800,000 barrels per day on average last year, and lost billions of dollars in revenue and harmed members of the organization who are struggling to collect liquidity for investment."

"According to the data, based on the $70 per barrel price of OPEC's basket of oil, 800,000 barrels per day of lost production is about half of Britain's daily consumption - equivalent to about $21 billion in lost profits for the group in 2021," he added.

And he added, "After record production cuts in 2020, the Organization of the Petroleum Exporting Countries, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, gradually eased its restrictions on oil production as demand recovers from the worst impact of the Corona virus epidemic."

And while others are matching production targets - which have recently risen by 400,000 barrels per day across the group - analysts say spare capacity has dwindled, with spare capacity, production that can be put into operation on short notice, as a vital cushion. To protect the market from any shock, and mitigate price fluctuations and sudden rises.”

On the one hand, analyst Goldman Sachs said in a note, “Standby capacity remains very low, with concerns about the production capacity of Russia, Kuwait and Iraq that those concerns are likely to be realized by the summer, when demand increases seasonally and international travel reopens.”

The report indicated that “OPEC and its allies are expected to abide by the previously agreed plan to increase March production by 400,000 barrels per day when they meet next Wednesday, although two OPEC sources

butterfly   told that higher prices may prompt the organization to consider other steps.” https://almaalomah.me/2022/02/01/579930/

butterfly   Economist: The Agreement With Saudi Arabia Will Exhaust Iraq's Economy

Economic Last Update 02/02/2022 | 4:51 PM  Economic expert, Muhammad Jamal, confirmed, on Tuesday, that the electrical linkage agreement with Saudi Arabia will have significant economic repercussions on the country.

Jamal told the "Information" agency that "the agreement with Saudi Arabia will exhaust Iraq's economy, as the country produces natural gas, and it can produce electric power by other means."

He added, "This agreement, through which Iraq will lose billions of dollars, is not a blessing or a gift, as some media outlets tried to portray to citizens, and political agendas are behind it, and from an economic point of view it will link the fate of Iraq to crises and major debts."

Political forces reject the electrical connection agreement with Saudi Arabia, because Riyadh has a history of supporting terrorism in Iraq. https://almaalomah.me/2022/02/01/579920/

butterfly   The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate

Economic Last Update 02/02/2022 | 11:23 AM  The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to "The Information", "The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price."

She added that "the framework's movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved," noting that "the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price."

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar. https://almaalomah.me/2022/02/01/579838/

Sheila   Video: Super Lightning, Geomagnetic Coincidence, Past Disaster by Suspicious0bservers, February 2, 2022 -- https://www.youtube.com/watch?v=5zCk5pzBaG0

Sheila   When this happens, one of the first things I am going to do is order from our own @firefamer family business -- www.4bmeats.com  F1 Wagyu Beef. Going to have steaks on the grill, shrimp on the barbecue ... all keto yet so delicious for quiet home celebration.

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