Zig’s Place Chat and News Friday AM 5-28-21
.Zig’s Place Chat and News Friday AM 5-28-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
butterfly 2021-05-28 03:24 Shafaq News / The dollar strengthened further on Friday following its rise from more than four-month lows in recent sessions, as investors waited for U.S. inflation data to set the currency's direction, Reuters reported.
The U.S. dollar index picked up in the late Asian and early European session, trading up 0.1% on the day at 90.78 at 0740 GMT.
The United States and Britain have a public holiday on Monday, meaning the dollar's gains could be attributed to month-end demand.
Zig’s Place Chat and News Friday AM 5-28-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
butterfly 2021-05-28 03:24 Shafaq News / The dollar strengthened further on Friday following its rise from more than four-month lows in recent sessions, as investors waited for U.S. inflation data to set the currency's direction, Reuters reported.
The U.S. dollar index picked up in the late Asian and early European session, trading up 0.1% on the day at 90.78 at 0740 GMT.
The United States and Britain have a public holiday on Monday, meaning the dollar's gains could be attributed to month-end demand.
Versus the yen, the dollar was near a seven-week high. The pair changed hands at 109.875, a move which prompted analysts to note Japan's rise in unemployment, fall in consumer prices and news that the government is considering extending a state of emergency over the COVID-19 pandemic.
The euro was down 0.1% at $1.21875, hovering below its recent high of $1.2266, as dovish comments from European Central Bank officials sapped its momentum ahead of the policy meeting on June 10.
The New Zealand dollar, which earlier in the week jumped on the prospect of an interest rate hike by September 2022, was down 0.6% at 0.7247.
The Australian dollar was down 0.3% at 0.7722.
China’s onshore yuan hit a new three-year high, on track for its best week since November.
Chinese regulators said late on Thursday that they will crack down on manipulation of the forex market while reiterating no change to the country's currency policy.
The British pound was down 0.2% at around $1.41835, on track for its best month versus the dollar so far this year.
A Bank of England policymaker said on Thursday that the central bank could raise interest rates as soon as the first half of next year, but is more likely to wait until later in 2022.
The number of Americans filing new claims for unemployment benefits dropped more than expected last week, data on Thursday showed.
Core personal consumption expenditures data -- an inflation report closely watched by U.S. central bankers -- is due at 1230 GMT.
butterfly U.S. President Joe Biden is set to release his first full budget since taking office in January later in the session. The New York Times reported on Thursday that Biden will seek $6 trillion in federal spending for the 2022 fiscal year.
In cryptocurrencies, bitcoin was down around 4% at $37,000 while ether was down 6% at around $2,572
butterfly 2021-05-28 02:58 Shafaq News / The price of bitcoin and other cryptos have come roaring back after they plummeted last week following comments from Elon Musk and Chinese regulators.
China’s powerful State Council also sent investors scurrying with a statement issued late on May 21, saying more regulation was needed to protect China’s financial system from crypto trading and mining.
The State Council said it was necessary to “crack down on bitcoin mining and trading behaviour, and resolutely prevent the transmission of individual risks to the social field”.
The statement came after a warning against crypto trading by three state-backed industry associations — the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.
The price of bitcoin has made a stunning comeback since hitting a low of (AUD) $40,359.19 on May 24, climbing to $49,395.19 at 12pm AEST.
Ethereum has also climbed from its low of $2246.05, rising to $3514.24.
XRP has jumped from $0.845168 to $1.25.
Dogecoin has also strongly bounced back from a low of $0.322854 to $0.428350.
The market has soared by about $387.30 billion after the brutal week that wiped off more than $1 trillion, according to Forbes.
butterfly 2021-05-28 02:44 Shafaq News / Oil prices were little changed on Friday, with Brent holding near $70 a barrel as firm U.S. economic data and expectations of a strong rebound in global demand in the third quarter offset concerns about more supply from Iran once sanctions are lifted, Reuters reported.
Brent crude futures for July fell 9 cents, 0.1%, to $69.37 a barrel by 0643 GMT while U.S. West Texas Intermediate crude for July was at $66.90 a barrel, up 5 cents, or 0.1%.
Brent and WTI are both on track to post weekly gains of 5% to 6% as analysts expect global oil demand to rebound closer to 100 million barrels per day in the third quarter on summer travel in Europe and the United States following widespread COVID-19 vaccination programmes.
Robust economic data from the United States, the world's largest economy and oil consumer, also buoyed risk appetite. The number of Americans filing new claims for unemployment benefits fell to the lowest since mid-March 2020, beating estimates.
Balancing expectations of a recovery in demand against a possible increase in Iranian supply, the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, OPEC sources said.
Iran and global powers have negotiated in Vienna since April to work out steps that Tehran and Washington must take on sanctions and nuclear activities to return to full compliance with Iran's 2015 nuclear pact with world powers.
Analysts expect Iran to add between 500,000 bpd and 1.5 million bpd of crude and condensate to the market once sanctions are lifted..
butterfly Al-Sahhaf: There is no international supervision over the upcoming elections
Friday 28, May 2021 15:32........Foreign Ministry spokesman Ahmed Al-Sahaf confirmed that there is no international supervision of the upcoming elections.
Al-Sahhaf stated in a press statement, that: “There is no international supervision over the elections, but rather monitoring by a team affiliated with the United Nations, for a one-time request and at the request of the Iraqi government, with full commitment to national sovereignty.”
butterfly The reference Khalisi calls for the establishment of a strong Iraq run by its people and gather the word of its people
Friday 28, May 2021 14:28.............The religious authority, Jawad Al-Khalisi, called on the masses and the nation to assume the legitimate and national responsibility entrusted to them and to take action to bring about the necessary change, stressing: "The government was brought in from a deadly vacuum and will end in complete loss."
Al-Khalisi asked, during the Friday sermon in the city of Kadhimiya,: “Why is this never-ending crisis? Why is this tension? Why is this killing? Why is the bloodshed? Why is this corruption? Why is this dispersion? Deception and names ...?, And why and why ..? !!, stressing: “The reason for the crisis that we are living today is the failure of the ummah to meet the approach of the Qur’an.”
He continued, saying: The old and modern experiences today have proven that the political process and all its secretions are a failure, and will not. It reaches any result, from corruption, plundering money, starving people, stopping business and devaluing currencies, and so on. "
He stressed the need to support the resistance and support the nation for a strong Iraq, an Iraq run by its people, an Iraq that is not hostile to the region and its neighbors, an Iraq that calls for harmony and unites the word of its people and brings together the nation’s diaspora, and it brings closer views and unites them on Islam and truth .
butterfly Oil prices rose to nearly $ 70 Friday 28, May 2021 11:25............Oil prices rose today, Friday, to nearly $ 70 a barrel, as the market was supported by strong US economic data and expectations of a strong recovery in global demand for fuel in the third quarter of the year.
Brent crude futures for July rose 32 cents, or 0.5 percent, to $ 69.78 a barrel by 06:10 GMT, while US West Texas Intermediate crude for July reached $ 67.18 a barrel, up 33 cents, 0.5 percent.
“Oil is trending higher on the back of strong US economic data and growing sentiment that if the Iran nuclear deal is revived, it will not include an immediate lifting of sanctions and that the oil market will not be overwhelmed by excess supplies quickly,” said Edward Moya, an analyst at OANDA.
Analysts expect Iran to add between 500,000 to 1.5 million barrels per day of crude and condensates to the market once the sanctions are lifted.
butterfly You have to laugh on the games they play.......A weekend-----up goes the cost of fuel for your vehicles........A holiday weekend......the cost of fuel goes WAY up for your vehicles..........this has gone on and on and on.............the games they play.
PeteV thanks butterfly
butterfly PeteV as you can see nothing has changed same old same old
PeteV i see butterfly but we are getting wiser
butterfly PeteV they are back to pleading with other countries, that rejected investing in Iraq, to come and re-look at what your investment could buy.
butterfly An expert talks about a factor that affects the price of gold
05/28/2021 ........{Economic: Al Furat News} Gold prices fell today with the rise of the dollar and US Treasury bond yields, while investors awaited the release of personal consumption data in the United States to obtain indications of inflationary pressures.
By 05:35 GMT, spot gold fell 0.2 percent to 1891.45 dollars an ounce, and the metal had gained about 0.6 percent since the beginning of the week, and is heading to record its fourth consecutive weekly gain.
While US gold futures fell 0.3 percent to 1891.60 dollars an ounce.
"Gold was somewhat defensive," said Edward Mayer, analyst at AD & F Man Capital Markets. Began to affect gold. "
He added, "Gold is likely to hold around this $ 1900 level for a little longer. Perhaps we can see the start to move up again, with the next set of data released, if it indicates a further rise in inflation."
The dollar index rose 0.1%, while the yield on the benchmark US Treasury bonds for ten years to 1.617%, which translates into an increase in the opportunity cost of acquiring gold that does not generate a return.
butterfly Globally ... Dollar prices jump against other currencies
05/28/2021 .........{Economic: The Euphrates News} The dollar reached its highest level in seven weeks against the yen, and rose against other major currencies, as traders prepare for what is expected to be a strong inflation figure in the United States on Friday, while the Chinese yuan continued its gains to record its best monthly performance Since November.
The British pound is also on its way to record its best monthly performance against the dollar this year, and at $ 1.4192, it approached a three-month high, supported by policymakers ’expectations of a possible interest rate hike next year.
The pound's gain of 2.7 percent during the month was also driven by the speed of the British vaccination campaign, and during May, the pound was the best performer against the dollar among the ten most traded currencies.
Against the euro, the pound sterling reached 85.79 pence per euro, near its five-week high of 85.615 pence. Against the yen, the pound reached its highest level in three years at 156.02 yen.
The yuan was another super-performing currency and accelerated this week. In domestic transactions, the yuan hit a three-year high of 6.3682 per dollar, which is up about 1.7 percent per month.
The euro settled at $ 1.2188 today, hovering near its highest level in five and a half months that touched it on Tuesday at $ 1.2266, as the easing statements from European Central Bank officials gained its momentum before a monetary policy meeting on the tenth of June.
The euro rose 1.4 percent in May. The dollar index declined 1.4 percent in the month and settled at 90.048 today.
As for the yen, which incurred losses on Thursday, it fell to a new low, and reached its lowest level in seven weeks at 109.96 per dollar in the Asian session.
butterfly As for cryptocurrencies, the price of Bitcoin reached 37,333 dollars, almost unchanged in the last 24 hours, but it is moving towards recording the largest monthly loss in about two and a half years. Ethereum fell 2 percent to $ 2,667 and is on track to post its first monthly loss since last September.
butterfly The World Bank announces important details in its report on Iraq
05/27/2021 21:15:10 ........{Economist: Al Furat News} A senior expert at the World Bank, Wael Mansour, revealed, on Thursday, important details in his report on Iraq.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram ..
Mansour said in a televised interview, "Negative GDP growth has reached 10%, which is one of the worst growth that we see after 2003, and we attribute it to the drop in the price of oil, the OPEC Plus agreement that reduced oil production, and the Kurna pandemic that strikes many sectors, including services, religious tourism and others." .
He pointed out, "a sharp decline in financial resources, and the government has taken harsh measures, including with regard to reducing all spending outside of wages and salaries, and we have seen a sharp decline in public investment, social benefits and all programs that can support growth and reduce poverty, and a sharp decline in them."
Mansour stressed, "The World Bank is very interested in the growth factor and sustainable growth, the need for diversification and job creation outside the oil sector, and a fundamental necessity for the participation of women in the labor market, as Iraq is at the lowest rates in the world in this aspect."
He indicated that "if Iraq is able to achieve policies and involve women in the labor market, 2".
$ 2.5 billion as a result of burning gas associated with oil extraction and losses in agriculture and water. ”
butterfly Mansour continued,“ The solutions to Iraq's problems have become a large structural pile up from one government to another, and solutions are not easy and not immediate, and we are talking about problems in the public sector, electricity and infrastructure, and a very small banking sector that does not exist. And not supportive of the public sectors.
”He noted,“ We are aware of the importance of the current government's white paper, which is diagnosed with such accuracy and seriousness and sounds an alarm bell for the Iraqi economic situation and says that the solution is not immediate and there must be short-term measures and all of the reforms need a pause and a political decision in the first place. ”
Mansour concluded, "Not diving into these reforms means recurring problems from one government to another with the low exchange rate of the dollar against the Iraqi dinar," adding, "We do not set conditions on Iraq, rather we offer advice to increase imports, and with the improvement in the price of oil it is a good look, but there are 3 risks hidden.
The first is the political and security risk that topples all the economic recovery and the risk of fluctuations in the price of oil, and it may drop to 50 or 40 dollars a barrel. The other danger is the absence of reform and the failure to implement the white paper means losing 11 billion dollars to Iraq.
The World Bank expert stressed that "reforms affect salaries, electricity, social protection networks and other government-supported aspects," noting that "e-government places Iraq in the back ranks in terms of corruption and the effectiveness of management."
BobbyC Mansour stressed, "The World Bank is very interested in the growth factor and sustainable growth, the need for diversification and job creation outside the oil sector, and a fundamental necessity for the participation of women in the labor market, as Iraq is at the lowest rates in the world in this aspect." butterfly
BobbyC butterfly The World Bank expert stressed that "reforms affect salaries, electricity, social protection networks and other government-supported aspects," noting that "e-government places Iraq in the back ranks in terms of corruption and the effectiveness of management."
BobbyC So there ya go.....Iraq has an economy, now they need growth within quarters and yearly projections
Doug_W BobbyC thanks
Zig If you access this chat via https://my.cbox.ws/ZIGPLACE You can make the box much bigger by clicking this link ZIGPLACE - Cbox
Zig’s Place Chat and News Thursday 5-27-21
.Zig’s Place Chat and News Thursday 5-27-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
sandyf BobbyC Now you may say it wasn’t a new currency in 2003 but in fact it was new because those new denominations weren’t around during Sadam’s days. Sounds new to me. It’s been the Iraqi Dinar since 1930 (?) and has gone thru major changes and to this day remains the Iraqi Dinar - You are obviously free to believe what you want. The Iraqi Dinar is the monetary unit of Iraq, not the currency.
The currency of Iraq is the IQD, and a currency can be issued in different series. The monetary unit of Turkey is the Lira, in 2006 they changed the currency from TRL to TRY, the monetary unit remained the Lira.
Zig’s Place Chat and News Thursday 5-27-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
sandyf BobbyC Now you may say it wasn’t a new currency in 2003 but in fact it was new because those new denominations weren’t around during Sadam’s days. Sounds new to me. It’s been the Iraqi Dinar since 1930 (?) and has gone thru major changes and to this day remains the Iraqi Dinar - You are obviously free to believe what you want. The Iraqi Dinar is the monetary unit of Iraq, not the currency.
The currency of Iraq is the IQD, and a currency can be issued in different series. The monetary unit of Turkey is the Lira, in 2006 they changed the currency from TRL to TRY, the monetary unit remained the Lira.
BobbyC sandyf Appreciate that and you're right, we can agree to disagree because it really doesn't matter in the long run as far as what people are looking for in this investment. What we do know is that the Sadam era, and prior to, had a currency called the IQD. When the Sadam IQD was "cancelled", they printed a new currency, completely different than the Sadam IQD, and called it the......IQD.
Now if they re denominate and go international will they rename the IQD as you pointed out with the Turkish Lira, could be but then and again, who will care because it becomes a neutral event for us and we battle the spread, not the dealers. Of course that's dependent upon which banks will handle it
BobbyC Iraq: Vote on UNAMI Mandate Renewal
Tomorrow morning (27 May) Security Council members are expected to vote in person on a draft resolution renewing the mandate of the UN Assistance Mission for Iraq (UNAMI) for one year, until 27 May 2022. The initial draft was circulated on 14 May, and Council members participated in one round of negotiations on 18 May.
Subsequently, the US, the penholder on Iraq, held bilateral negotiations on the text via email with several Council members. The negotiations appear to have gone smoothly. The draft resolution passed silence this morning (26 May) and is now in blue. https://www.securitycouncilreport
Butterfly Iraqi Dinar/US Dollar auction results 5-27-2021
United States DollarThe results of the foreign currency sale window on Thursday 5/27/2021, and executed today
Sale date – Thursday 5/27/2021 and executed today the details
Amount Total sale for purposes of enhancing funds abroad (transfers, credits) 149,049,152
Total cash sale 3,850,000 Total total sales 152,899,152
Note that:
The sale price of the sums transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
The cash sale price is ( 1460 ) dinars per dollar. cbi.iq/currency_auction/view/1032
butterfly Al-Saadi: Al-Kazemi is implementing an American plan to return Iraq to 2014
08:44 – 27/05/2021 Al-Saadi - Al-Kazemi is implementing an American plan to return Iraq to 2014The information / Baghdad ..
Political analyst Muhammad Karim Al-Saadi warned, Thursday, of an American plan implemented by Prime Minister Mustafa Al-Kazemi in order to drag the country towards violence and restore the 2014 scenario, in order to thwart the electoral process and go towards the emergency government to ensure that foreign forces remain inside the country.
Al-Saadi said in a statement to “the information”, that “Al-Kazemi kept silent in front of the American bombing of the Popular Mobilization Forces in Al-Qaim, and no inhabitant moved in front of the screams of the people of the crowd canceling their contracts, and he went towards arresting some of its leaders under false pretenses.
He added, “The available data indicates that the government is leading the country towards chaos and internal strife, which makes the situation very fragile, as it is intended to repeat the 2014 scenario.”
Al-Saadi explained, “The American administration does not like the situation in Iraq or the removal of its forces from its lands, as the statements of the political parties confirm that Al-Kazemi is leading an American plan to ignite the fuse of fighting and drag the country towards chaos and violence, with the aim of forming an emergency government and postponing the file of removing American forces from Iraq.” almaalomah.org
butterfly Urgently The text of the Presidency meeting on the recent developments in the country and the most prominent decisions
05/27/2021 18:20:00 Urgently The text of the Presidency meeting on the recent developments in the country and the most prominent decisionsPresidencies meeting about the recent developments in the country
Today, Thursday, May 27, 2021, a meeting was held at Baghdad Palace, which included the President of the Republic, Dr. Barham Salih, the Prime Minister, Mustafa Al-Kazemi, the Speaker of Parliament, Muhammad Al-Halbousi, and the President of the Supreme Judicial Council, Judge Faiq Zaidan, and discussed the recent developments and the dangerous implications of them.
The meeting stressed that the recent events in the country negatively affect the national efforts aimed at achieving security and stability and preserving the prestige and sovereignty of the state, and the national project adopted by the people’s forces and political and social actors in order to get the country out of the current crises and challenges in preparation for holding fair and equitable elections.
The meeting affirmed that the continuing security turmoil and encroachment on the state’s authority and its right to hold the security and military decision represents a serious violation of the state’s authority and prestige in enforcing the law and protecting the security of citizens, and exposes the country’s stability to real risks, which calls for an active presence of the position of the various political forces in order to address this escalation. And support the state in controlling weapons in its hand, closing ranks and stopping sedition, and taking unified, serious and decisive stances to remedy the crisis.
butterfly The meeting stressed the need to respect the decisions issued by the judiciary and respect the procedures of state institutions in legal accountability, not to be subjected to decisions of the judiciary outside the constitutional frameworks, and to adhere to exclusively legal procedures and contexts, in order to uphold the rule of law and the principle of citizenship in a state that protects its people and guarantees the rights of all citizens without discrimination.
The meeting affirmed that the parliamentary elections will be held next October, which are of great importance as they come after a popular movement demanding reform, and after the accumulation of crises, mismanagement and widespread corruption, the holding of elections is a constitutional and national duty and it should not be hesitated, as it should be a means for getting out of the current problems and challenges that The country suffers from it and represents the peaceful path of change,
and in order to achieve this goal, the necessary conditions necessary for the electoral process must be met, and the implementation of standards of integrity and transparency in its various stages must not be reversed, and the broad participation is guaranteed, in order to ensure the free will of the Iraqis to choose their representatives away from fraud, manipulation and pressure, And for the election outcomes to be a true reflection of the will of the people and their choices. alforatnews.com
butterfly Political leader: The Minister of Finance informed me of his intention to resign before he was questioned
05/27/2021 14:45:13 Political leader - The Minister of Finance informed me of his intention to resign before he was questionedA political leader revealed the intention of Minister of Finance, Ali Allawi, to submit his resignation from the government, especially after the parliament intended to question the minister about several files.
The head of the National Coalition, Iyad Allawi, said in a press interview, “My cousin (the Minister of Finance) told me that he prepared his resignation, and he has no desire to continue with the government because the political blocs bear him raising the dollar at a time that they all met with the prime minister and accepted the decision to raise, but today they disavow the matter. “.
Allawi did not reveal the date of submitting the minister’s resignation.
It is noteworthy that representatives said that the House of Representatives intends to question the Minister of Finance next week, and the most prominent of the interrogation files is the raising of the dollar and the delivery of the region’s financial dues without a legal basis, in addition to other files. alforatnews.com
butterfly Dollar prices rose to their highest levels in Baghdad
2021-05-27 Dollar prices rose to their highest levels in BaghdadThe exchange rate of the dollar rose today, Thursday, to its highest levels in the main stock exchange in Baghdad and banking shops.
The Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 149,500 Iraqi dinars against 100 US dollars, after it recorded 149150 dinars during its opening yesterday morning.
While the selling prices increased in the exchange shops in the local markets in Baghdad, reaching 150,000 Iraqi dinars, while the purchase prices reached 149,000 dinars per 100 US dollars. burathanews.com
butterfly Kirkuk calls on German companies to contribute to reconstruction and investment in the province
Thursday 27, May 2021 18:42......The Governor of Kirkuk, Rakan Al-Jubouri, discussed with the Ambassador of the Federal Republic of Germany in Iraq, Dr. Ole Dale, the efforts made for the success of the conference to restore stability in Iraq, which will be held soon with the support of the federal government and the efforts of the General Secretariat of the Council of Ministers, Germany and the donor countries.
This came during a joint meeting, during which the governor gave a presentation on reconstruction efforts and services throughout Kirkuk, taking into account their importance and diversity, and enhancing stability and coexistence ...
We valued the efforts of the Iraqi government in supporting plans to restore stability, and Kirkuk’s need for more support, support, and vital and service projects in support of stabilization efforts for the liberated areas. Because of the great damage it was subjected to, and the importance of recalculating the proportions of allocations from projects to donor countries and international organizations in line with the size of the destruction that afflicted more than half of Kirkuk’s area, the displacement crises, the destruction, the demolition, and the psychological damage ..
stressing the importance of the contribution of German companies in supporting reconstruction and building efforts and what they have achieved from Significant progress since the discovery of oil in Kirkuk and the German company Siemens is currently preparing to rehabilitate the K1 unit in Taza.
butterfly The Federal Ambassador of Germany affirmed the continued support of the Iraqi government in the success of the stability plans, and the importance of Kirkuk’s contribution to the stabilization conference with the Iraqi government, the German embassy and ambassadors of donor countries, in a way that contributes to the success of the reconstruction of the governorates of Anbar, Salah al-Din, Nineveh, Diyala and Kirkuk.
butterfly Parliamentary Finance / NINA /: The government will challenge the general budget law next week
Thursday 27, May 2021 11:54..........The Parliamentary Finance Committee has suggested that the government will proceed to submit the list of appeals against the General Budget Law 2021 to the Federal Court within the next week.
Committee member, Naji Al-Saidi, said in a statement to the Iraqi National News Agency / NINA /, that "the government is in the process of challenging some provisions of the general budget, and sees the amendments that were added in the House of Representatives affecting the health and electricity sectors," indicating:
"The cabinet will unify The ministries ’notes, which are drafted in a unified draft, to present to the Federal Court an official list of appeals on some of the budget’s provisions.
He added that "there are more than 10 articles in the General Budget Law that the government will challenge in front of the Federal Court, including the article requiring ministries to transfer some formations and join them to the Federal Service Council, as well as the article related to regional development projects," indicating that "the House of Representatives has made amendments to the Budget Law."
The public, and the government has the right to appeal the amendments and additions introduced by the parliament in accordance with the law.
And the Council of Ministers decided, in its session held on April 20, to authorize its president to appeal in front of the Federal Court a number of articles of the Federal Budget Law for the fiscal year 2021.
butterfly Officially announcing that Al-Assad won a fourth presidential term
Thursday 27, May 2021 23:48.......Syrian President Bashar Al-Assad won a fourth term after winning 95.1 percent of the votes, according to the results announced by Parliament Speaker Hammouda Sabbagh.
Sabbagh said in a press conference that candidate Bashar Hafez al-Assad received 13 million and 540,000 votes.
He added that the number of voters who cast their votes amounted to more than 14 million voters.
The Syrian constitution limits the term of office to seven calendar years.
The Minister of the Interior Muhammad al-Rahmoun said that the number of those entitled to vote could exceed 18 years, reaching 18 million, and 107,000 Syrians, inside and outside Syria.
It is noteworthy that Assad won 88.7 percent of the vote in the previous elections that took place in 2014.
Sandyf @BobbyC sandyf When the Sadam IQD was "cancelled", they printed a new currency, completely different than the Sadam IQD, and called it the......IQD. - the IQD has never been cancelled, been in the list of ISO active currencies since the inception.
In the event of a redenomination the IQD will become a historical currency as defined by the ISO and will not be recognised by financial institutions outside Iraq. The Iraqi dinar will never become a reserve currency so you should stop misleading people. Stick to the facts.
Dave https://en.wikipedia.org/wiki/ISO_4217#:~:text=Active%20ISO%204217%20currency%20codes%20%20%20,%20%20Armenia%20%2044%20more%20rows%20
Dave iso 4217...IQD.......code yes ....globally traded....NOT yet recognized
BobbyC Hey Sandy how are ya. I'm not misleading people so stop trying to look tough. So I used the word cancelled instead of not in use. Whoa that's a reach huh? For you I'll use stopped using from now on. I guess we'll wait and see if the IQD just simply goes away. Again if a re denomination occurs, who gives a *.
Dave can get virtually purchase any currency in the World from my bank within in 1-2 days......Think that my bank orders it from In from say India,,,,,,,they ship it to my bank within 2 days????
Dave Canada holds Rupees here.....
Zig If you access this chat via https://my.cbox.ws/ZIGPLACE You can make the box much bigger by clicking this link ZIGPLACE - Cbox
Zig’s Place Wednesday PM 5-26-21
Zig’s Place Wednesday PM 5-26-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Iraqi Dinar/US Dollar auction results 5-26-2021
10K Iraqi Dinar notesThe results of the foreign currency sale window on Wednesday 5/26/2021, and executed today Sale date – Wednesday 5/26/2021 and executed today the details Amount
Total sale for purposes of enhancing funds abroad (transfers, credits) 140,850,000
Total cash sale 7,750,000 Total total sales 148,600,000
Note that: The sale price of the sums transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
The cash sale price is ( 1460 ) dinars per dollar. cbi.iq/currency_auction/view/1031
Zig’s Place Early Wednesday PM 5-26-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Iraqi Dinar/US Dollar auction results 5-26-2021
10K Iraqi Dinar notesThe results of the foreign currency sale window on Wednesday 5/26/2021, and executed today Sale date – Wednesday 5/26/2021 and executed today the details Amount
Total sale for purposes of enhancing funds abroad (transfers, credits) 140,850,000
Total cash sale 7,750,000 Total total sales 148,600,000
Note that: The sale price of the sums transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
The cash sale price is ( 1460 ) dinars per dollar. cbi.iq/currency_auction/view/1031
Dave Wow....an Iraqi official finally goes to jail,,,,,,,10 MPs of Maliki's party defect.......Peaceful.Demonstrations now again resuming....faced with.live fire........Elections being postponed.....? Maliki sure hopes so?
butterfly Dave I know, it is crazy. I could fill this room with tons of articles about what is going on but I feel most are interested in the "money" aspect.
Dave butterfly or what the gurus have to say.....
Dave butterfly Do appreciate what you bring....;Really like all those anti corruption arts.....
butterfly Dave There should be more later, but right now I am taking a break.
Dave Elections campaign seems to have started before hand.....
butterfly Dave YUP
Dave butterfly CANT!.....its getting interesting now.....
Zig The last youtube video that Frank26 did on the 24th got 14,000 views....that is what people want to hear....
butterfly Zig I don't know how much one makes when people click on the youtube videos, but he is making money off of those 14,000 views.
Dave tranquility has been nice......fer a change
butterfly Zig Be careful........don't ruin it.
butterfly Dave Totally agree
Dave i bite my tongue.......
butterfly Iran announces that its non-oil exports grow 48 percent, and Iraq is the second importer
Wednesday 26, May 2021 21:07..........The head of the Iranian Customs Authority, Mahdi Mir Ashrafi, announced that exports of non-oil goods recorded a quantitative growth of 17 percent and a price of 48 percent in the first two months of the current fiscal year from March 20 to May 20, 2021 on an annual basis.
He explained Ashrafi in a statement today Wednesday , according to Iranian media, that was exported 16.9 million tons worth $ 6.3 billion Iranian goods to various countries around the world in the past two months, mostly benzene, polyethylene, methanol, alloy iron and steel industries Alfoladah. "
He noted that China topped the list of importing countries With 4.6 million tons and a value of two billion dollars, followed by Iraq with 3.1 million tons with a value of 953 million dollars, the UAE with 2.4 million tons with 849 million dollars, Turkey 384 thousand tons with 388 million dollars, and Afghanistan 911 thousand tons with 365 million dollars.
The head of the Iranian official indicated that, the five countries combined 11.5 million tons of goods, worth 4.6 billion dollars, with a quantitative growth of 68 percent and a price of 73 percent. ”
In contrast, Mir Ashrafi indicated that 5.3 million tons of goods were imported in these two months, at a value of 6.5 billion dollars, from various countries of the world, with a decrease. A quantity of 16.5 million tons and a price increase of 29.5 million tons. "
He explained that among the most important imported commodities are mobile phones, corn fodder, sunflower oil, wheat, soy and their oil, rice, barley and sugar .
butterfly Al-Kazemi: Armed manifestations today are a serious violation of the constitution and the laws in force
Wednesday 26, May 2021 21:25 ......The Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, affirmed that: The armed manifestations that took place today ... are a serious violation of the constitution and the laws in force.
He said in a statement: An Iraqi security force specialized in the Commander-in-Chief of the Armed Forces executed a judicial arrest warrant against one of the accused this morning in accordance with Article 4 terrorism and based on complaints against him.
Al-Kazemi added: A joint investigative committee consists of the Joint Operations Command, Interior Intelligence, Military Intelligence, National Security and Popular Mobilization Security to investigate the accusations against him, and he is now in the custody of the Joint Operations Command until the end of the investigation.
He explained that: The armed manifestations that occurred by armed groups are a serious violation of the Iraqi constitution and the laws in force, and we have directed an immediate investigation into these movements according to the law.
Al-Kazemi stressed that: Protecting the security of the homeland and not exposing the security of our people to adventures at this historical stage is a responsibility placed on the shoulders of the government, security and military forces, forces, parties and political currents, and therefore we call on everyone to give priority to the interest of the homeland.
butterfly Qalibaf re-elected president of the Iranian parliament
Wednesday 26, May 2021 20:10......The Islamic Consultative Assembly of Iran (parliament) re-elected its president, Muhammad Baqir Qalibaf, for the second time.
According to Iranian media, the competition for the presidency of the Shura Council took place in the internal polling of the council this morning between the former head of the council and the deputy for the city of Tehran Muhammad Baqir Qalibaf and the deputy from the city of Kazerun Fereidun Abbasi Dawani.
Qalibaf won in the poll with 230 votes and Abbasi Dawani 18 One of the votes of the deputies in the House. "
Dave Iraq......all of its natural mineral reserves......rare metals....etc potentially the richest nation on the planet.....sell only oil and still require to import electricity......
butterfly Dave I know............go figure! lol
butterfly Al-Suhail confirms that there is no political agreement regarding early elections
Wednesday 26, May 2021 19:46.......Member of Parliament Hisham Al-Suhail confirmed that there is no political agreement regarding early elections.
He said in a televised statement that: The factors for the success of holding the elections are not yet available.
Al-Suhail added: The political situation is very confused and the differences are very large within all components, indicating that signs of chaos have begun.
He stressed the need to stop the assassinations and kidnappings, pointing to the presence of external parties involved in the assassinations.
Dave Invest in that....Kuwaiti Conference was a bust
Dave wonder why......lol
butterfly Dave What really made me mad is when they went in and destroyed all of those antiquities in Iraq.
Dave butterfly sad.....yes
Dave peshmerga getting paid yet to police those disputed territories from ISIS currently or actually get back paid.....?
Zig butterfly Dave Have either of you read about any mining companies interested in coming in to help mine those rare metals, etc??
Dave Zig Show me private banking law passage to protect foreign investment......buy in cheap....
Zig Okay so once that passed will boom!!!
Dave oil companies pulling out.....nobody putting in.......we be currently screwed
Dave hope that made sense
butterfly Zig I can't remember the guys name, been so long ago, and I said wow the dinar is rising from 1162 to 1166 that has got to be good. No he said, it needs to go down for it to benefit us.
Dave 1 to 1.........?
Dave hope so...take a nickle now
butterfly It is still a whisper. lol
Zig Dave : Yeah 20: 1
Dave heard 32 to 1.....whale contractor rate
Zig Dave : We are minnows
Dave yeah have a 25k note ....down to suitcases of those 50s
Dave Canada has only 1 Dinar dealer........only a very few whales here
butterfly I just went on silvergreetings and wow it has changed a lot. Now they have 2018 notes, coins, etc.
Dave SILVER>>>>>>!!!
butterfly https://www.silvergreetings.com/chme.html coins for all occasions.
Zig Shooting in San Jose, CA....8 killed....
Dave we seem to have been getting alot of shootings......gang related......
Dave big push to legalize all drugs here now....helps to remove all the crime?
butterfly Qubad Talabani discusses with the ambassador of the European Union in Iraq relations between the Kurdistan region and the federal government
Thursday 27, May 2021 00:04.........Vice President of the Kurdistan Regional Government, Qubad Talabani, discussed with the Ambassador of the European Union in Iraq, Martin Hoth, the relations between the region and the federal government.
The website of the Patriotic Union of Kurdistan stated that, Talabani had met Martin Houth and Vincent Bobo, the official of the office of the representative of the European Union envoy in the Kurdistan region, and the two sides discussed relations between the region and the federal government, indicating that Talabani affirmed the commitment to implementing the federal budget law.
Sheila @Raul - about your question -- Zim? let's discuss
sandyf BobbyC Now you may say it wasn’t a new currency in 2003 but in fact it was new because those new denominations weren’t around during Sadam’s days. Sounds new to me. It’s been the Iraqi Dinar since 1930 (?) and has gone thru major changes and to this day remains the Iraqi Dinar - You are obviously free to believe what you want. The Iraqi Dinar is the monetary unit of Iraq, not the currency. The currency of Iraq is the IQD, and a currency can be issued in different series. The monetary unit of Turkey is the Lira, in 2006 they changed the currency from TRL to TRY, the monetary unit remained the Lira.
BobbyC sandyf Appreciate that and you're right, we can agree to disagree because it really doesn't matter in the long run as far as what people are looking for in this investment. What we do know is that the Sadam era, and prior to, had a currency called the IQD. When the Sadam IQD was "cancelled", they printed a new currency, completely different than the Sadam IQD, and called it the......IQD. Now if they re denominate and go international will they rename the IQD as you pointed out with the Turkish Lira, could be but then and again, who will care because it becomes a neutral event for us and we battle the spread, not the dealers. Of course that's dependent upon which banks will handle it
BobbyC Iraq: Vote on UNAMI Mandate Renewal
Tomorrow morning (27 May) Security Council members are expected to vote in person on a draft resolution renewing the mandate of the UN Assistance Mission for Iraq (UNAMI) for one year, until 27 May 2022. The initial draft was circulated on 14 May, and Council members participated in one round of negotiations on 18 May.
Subsequently, the US, the penholder on Iraq, held bilateral negotiations on the text via email with several Council members. The negotiations appear to have gone smoothly. The draft resolution passed silence this morning (26 May) and is now in blue. https://www.securitycouncilreport
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Zig’s Place Early Wednesday AM 5-26-21
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BobbyC So per that article, floating the Dinar is of no benefit....duh. Either way they go, stay pegged
NORV BobbyC They will not float until the conditions are appropriate. But floating is what countries do. So Iraq will float...the questions is when are the conditions appropriate? First they need to diversify and launch a private sector, then they need pressure create on the CBI's capital account from investment. They need laws to encourage this investment. In other words, they are not ready.
NORV :Float: :Float:
BobbyC NORV I get the fact that they are not ready. Some say that if they were going to re denominate, why not just do it. Reasoning is they still have to have a monetary and economic policy that supports such a move. Monetary wise ya have to look at the weakness of the Banking Sector and amount of currency in and out of those Banks. Economy wise look at the dependency on oil revenue and no economic growth. So if they were to place the IQD as a currency reserve why a Peg?
Zig’s Place Early Wednesday AM 5-26-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
BobbyC So per that article, floating the Dinar is of no benefit....duh. Either way they go, stay pegged
NORV BobbyC They will not float until the conditions are appropriate. But floating is what countries do. So Iraq will float...the questions is when are the conditions appropriate? First they need to diversify and launch a private sector, then they need pressure create on the CBI's capital account from investment. They need laws to encourage this investment. In other words, they are not ready.
NORV :Float: :Float:
BobbyC NORV I get the fact that they are not ready. Some say that if they were going to re denominate, why not just do it. Reasoning is they still have to have a monetary and economic policy that supports such a move. Monetary wise ya have to look at the weakness of the Banking Sector and amount of currency in and out of those Banks. Economy wise look at the dependency on oil revenue and no economic growth. So if they were to place the IQD as a currency reserve why a Peg?
BobbyC Oil exporters – even if they are economically advanced – often peg their exchange rate – and especially to the global reserve currency (i.e. US dollar).
Every Gulf Cooperation Council (GCC) country anchors its exchange rate to the oil-pricing currency (the US dollar).
The lone exception is Kuwait, which pegs to a basket of currencies.
There are several key justifications for oil exporters wanting to maintain a peg, particularly to the US dollar.
First, they receive revenues from oil sales in US dollars.
Second, if they are developing countries they can import the monetary credibility of the anchored nation.
Third, if they are small countries, adopting a floating currency may lead to greater vulnerabilities to large swings in the exchange rate.
BobbyC Now could they Float once they see stability within the exchange rate? Of course they could, countries do it all the time.
BobbyC Both the CBI and the IMF have stated a Peg to the USD is working and in my opinion, will work if and when the IQD becomes a reserve currency. Now just like the ISO discussion, does it really matter if they Float or Peg once they become a reserve currency? No. Once that happens we will see 2 options in front of us and our decision will be made. A re denomination, or as you have spoke of, a gradual increase. Question has always been......W
BobbyC What currency will they take InternationalNORV http://newsabah.com/newspaper/252188
BobbyC GM Pete and you're welcome. Discussing the complexities of this is mind boggling to me and I appreciate what everyone brings to the discussion. It's not about right and wrong, it's just a discussion. It's also not about swaying anyone to buy or sell, it's just trying to understand how this really works away from all the nonsense. We have 1 goal in mind and we wait
BobbyC butterfly Thanks for the articles and have a great day
butterfly BobbyC You are welcome and there are talks about four years, but they can't decide on a one year, two year, four year, etc. All I can see is that they are "trying" to get it together. Baby steps from way back when all of this started.
butterfly The inauguration of a project to produce "Baghdad" batteries, and the industry promises to operate stalled factories soon
05/26/2021........{Local: Al Furat News} The Ministry of Industry and Minerals opened, on Wednesday, a project to produce batteries {Baghdad}, while noting that the Ministry of Industry promised to operate stalled factories soon.
The ministry stated in a statement that Al-Furat News received a copy of it, that “the Minister of Industry and Minerals, Manhal Aziz Al-Khabb, inaugurated the production of SMF non-permanent batteries (The Magic Eye) in Babel (1) in the batteries factory affiliated to the General Company for Automobile Industry and Equipment with a capacity of (500) A thousand batteries annually marked (Baghdad) with capacities (62, 74, 90 and 100) amperes, which satisfy part of the market and Iraqi citizen's need for this type of batteries with European specifications and a real guarantee for a period of (6) months at very competitive prices and the project that was created works out of allocations The investment plan for the years (2013-2017) according to the latest international technology and contains advanced, environmentally friendly machines and equipment from the Italian company Sofima. The produced batteries are distinguished by their high efficiency, long service life, and their use in various types of cars.
butterfly The minister said in a press conference, "This is one of the happy days in the Ministry of Industry and Minerals with the inauguration of this project after extraordinary and great efforts by the factory cadres for a period of (8) consecutive months and continuous work outside official working hours to complete the installation and operation by Iraqi hands and with the Ministry's capabilities to produce batteries in four different capacities.
With a capacity of (500) thousand batteries annually, with an added value exceeding (90%), which will be increased to (100%) through the manufacture of the plastic container that is imported only while all the contents of the battery are manufactured and the production process is managed with the efforts and hands of pure nationalism.
The efforts of the general manager of the company and the factory cadres that have succeeded in operating the project despite the difficult health conditions.
The minister affirmed that "the ministry is proceeding in sound and serious steps to achieve real competition in the local market that is witnessing dumping of imported goods," expressing his hope that the battery product will be exported in the name of our beloved capital (Baghdad) to be a new Iraqi pride, announcing many openings of factories and factories that were suspended for periods. Long to achieve the slogan raised by His Excellency the Prime Minister, "Made in Iraq."
On the sidelines of the opening, he met with a number of employees working in the battery factory and listened to their requests regarding the payment of the salaries of contract employees, the distribution of land parcels and the most important problems facing them, and his Excellency directed to overcome the obstacles and meet the demands.
butterfly The International Monetary Fund approves financing an Arab country with more than one billion dollars
05/25/2021 23:11....... {Economist: Al Furat News} The International Monetary Fund announced that it had reached an expert-level agreement with Egypt to complete a final review of a conditional credit arrangement.
The fund said in a statement that the agreement needs approval from the Executive Council, after which Egypt will get about $ 1.16 billion, indicating that it will provide additional financing to Egypt of $ 1.6 billion after the approval of its Executive Board in the coming weeks.
The fund also announced the completion of the second and final review of a 12-month conditional credit arrangement for Egypt, adding, "Egypt must undertake deep and broad structural reforms."
butterfly Top Iraqi militia commander arrested after attacks on US troops
The reason behind the arrest is still unclear, but warrant stipulates terrorism charges...........May 26, 2021.........
Iraqi security forces arrested a senior Shiite paramilitary leader on Wednesday in a move that will raise tensions with powerful Iran-backed militias accused of attacks on international forces and the killing of hundreds of protesters and activists.
The arrest places the prime minister's loyalist security forces in the army and counterterrorism services directly at odds with the militias that make up an organisation of state-sanctioned groups.
Qassim Musleh, leader of the Popular Mobilisation Forces (PMF) was arrested in the western province of Anbar, reportedly by forces from the Interior Ministry.
The reason behind Mr Musleh’s arrest is still unclear, but an arrest warrant, widely circulated on social media and confirmed by a court official, says he is wanted over terrorism charges. Security officials told Reuters the arrest was in connection with a recent rocket attack against the Iraqi-US base at Al Asad. Mr Musleh's forces are stationed not far from the base.
Mr Musleh also runs a militia group called Al Tufuf, which worked alongside Iran-backed groups in Al Qaim, a strategically important town on the border with Syria.
Since taking office in May, Iraqi Prime Minister Mustafa Al Kadhimi has tried to rein in militias backed by Tehran, but has so far failed.
On Tuesday, security forces killed two protesters in Baghdad who were demanding justice for scores of assassinated activists, shouting "who killed me?" and carrying pictures of the dead.
Mr Al Kadhimi repeatedly promised investigations into protester deaths.
In June 2020, the country's counter-terrorism forces arrested 14 militiamen from the radical Iran-backed group Kataib Hezbollah, which has a prominent role in the PMF.
butterfly The men were accused of planning a rocket attack on Baghdad's Green Zone, but they were released days later and the case was dropped. In December, security forces arrested Hamid Al Jazairi, the former deputy commander of Al Khorasani Brigades, another prominent Iran-backed group, and more than a dozen of his followers.
The following day, the group’s commander, Ali Al Yassiri, was arrested. Then, officials said they were arrested over corruption charges.
butterfly When Iraqi security forces crumbled in mid-2014 as ISIS swept through northern and western Iraq, Shiite volunteers and militias answered a call from the country’s influential Shiite cleric, Grand Ayatollah Ali Al Sistani, to join the fight.
Some of those groups were newly formed and loyal to the quietist Ayatollah, and refrained from attacking international forces or killing protesters.
But those groups have since moved closer to Iraq's Defence Ministry leaving other, more powerful, groups like Kataib Hezbollah and Al Tufuf to continue operations on Iran's behalf.
As major military operations ended and ISIS was declared defeated in late 2017, many Shiite militias scrambled to win lucrative government reconstruction deals in the liberated areas, many of which were in ruins.
Some of the Iran-allied faction within PMF are accused of assassinating activists and protesters since 2019 when pro-reform rallies broke out that also denounced Iran’s growing influence in Iraq.
butterfly Iraq unveils massive anti-corruption project
Iraq has lost $150 billion to corruption since 2003, according to Iraqi President Barham Salih. orruption and nepotism
May 25, 2021 Following remarks from Iraqi President Barham Salih, who admitted on Sunday that Iraq has lost $150 billion since 2003 to corruption, a new international project launched on Monday aims to curb embezzlement and bolster transparency in Iraq’s public sector.
The 15 million-euro ($18.3 million) initiative, led by the United Nations Development Program Iraq in partnership with the European Union Mission in Iraq, was designed to support Iraqi institutions and enable Iraqi civil society to play a more active role in identifying and fighting corruption.
“Combating corruption requires a joint and unified effort from the Iraqi government, state institutions and the Iraqi society,” said the Ambassador of the European Union Mission to Iraq Martin Hutt in a release.
The project is scheduled to roll out over four years across both federal Iraq and the northern Kurdistan Region. Coordinating across dozens of agencies, however, could prove a major challenge.
Why it matters: Corruption is rampant across Iraq. The country is ranked 160 out of 180 on Transparency International’s Corruption Perceptions Index.
In October 2019, protests erupted across the country demanding reforms to curb corruption and hold security forces accountable for killing or unjustly detaining protesters. The United Nations estimates that 490 people were killed and 7,783 injured during demonstrations from October to May.
In response, Iraqi Prime Minister Mustafa al-Kadhimi announced the formation of an anti-corruption committee reporting directly to his office. In one of the committee’s first actions, it arrested the former governor of Nineveh province, Nawfel Akoub, who along with other officials was accused of embezzling about $64 million of public funds.
butterfly In response, Iraqi Prime Minister Mustafa al-Kadhimi announced the formation of an anti-corruption committee reporting directly to his office. In one of the committee’s first actions, it arrested the former governor of Nineveh province, Nawfel Akoub, who along with other officials was accused of embezzling about $64 million of public funds.
Last September, three senior Iraqi financial officials were arrested and charged with corruption, including Bahaa Abdul-Hussein, the director of the Qi Card company that is responsible for distributing payments to employees and retirees. Also arrested were Agricultural Bank Director Adel Khadr, head of Iraq’s retirement fund Ahmad al-Saedi and the head of Baghdad’s Investment Commission, Shaker al-Zamili.
In total, the committee has arrested 31 figures linked to militias and political parties. Some have been tried in court and others have been banned from traveling.
But Kadhimi has been criticized by some activists for making little progress on his campaign promise to address corruption, no easy task as corruption is a deep-rooted issue in the country. In late April, calls for protests against corruption were renewed when a fire at the Ibn al-Khatib Hospital in Baghdad killed at least 82 people and injured 110 others.
“The Iraqi people have taken to the squares to demand effective action against corruption,” said Zaina Ali Ahmed, the resident representative of the United Nations Development Program in Iraq, in a press release. “Citizen voices are louder than ever before and should no longer be ignored. … We aim to strengthen the rule of law and restore popular confidence in the institutions that serve them.”
What’s next: A new bill submitted to parliament aims to equip the country’s legal system and other state institutions with tools to fight corruption, according to Salih. The bill is “a measure to strike the dangerous scourge of corruption that has hindered the building of the country and deprived the people of their w
Raul What’s up with the zim?
Sheila Nicks Intel Update, May 21, 2021: Cheat Sheet for Appointment -- https://nicksintel.wordpress.com/2021/05/21/05-21-2021-cheat-sheet-for-appointment/
Butterfly The lowest since 2003 … Gallup: 78% of Iraqis do not trust Al-Kazemi’s government
Wednesday 26 May 2021 | 10:34 a.m. The lowest since 2003 ... Gallup: 78 percent of Iraqis do not trust Al-Kazemis governmentA Gallup poll conducted by the Washington Institute and published in a report, Tuesday, confirmed that 78% of Iraqis are dissatisfied with the performance of the current government, stressing that the Al-Kazemi government must act quickly if it is to avoid a possible popular uprising among dissatisfied Shiites in Iraq .
The report stated that “according to the poll, the Iraqi Shiites showed particularly high rates of dissatisfaction, distrust and unhappiness with regard to their political system, compared to the Sunnis and the Kurds .”
He added, “The Gallup International project is a long-term project to assess the state of public opinion in Iraq towards democracy and governance in the country, and the overall goal of the project is to determine whether the state of public opinion in the country is on a path that leads to a well-functioning, sustainable pluralist democracy. While the first survey in the project was conducted in April 2021, the project will periodically track key situations in Iraq in order to better understand the societal foundations of the existing political system .
He continued, “The recent poll, which was based on a nationwide face-to-face representative sample of 1,200 interviews, remains pessimistic about Iraqis in general and the Shiites in particular about the government’s orientation. In January 2021, Iraqi Shiite confidence in the government reached 27 percent, while the confidence of Sunnis in the federal government by 46 percent and Kurdish confidence by 55 percent . ”
butterfly And he continued, “The level of confidence in the Al-Kazemi government is at its lowest level ever. In last April’s poll, 22 percent of Iraqis in total and only 17 percent of Shiites express their confidence in the government. The latest poll also showed that 75 percent of Iraqis in general believe that the country Going in the wrong direction, while this percentage rose among Shiites to reach 80 percent, which is the lowest level of optimism about the country’s future since 2003. ”
The poll showed that “while about 50 percent of Sunnis and Kurds believe that they cannot influence the decisions made in Iraq, the percentage jumps to 60 percent among Shiites, and by the same token, 60 percent of Sunnis feel that not all people are treated fairly and equally. By the government, while 70 percent of Shiites believe it too . ”
The report indicated that “there is a huge crisis of confidence in the Iraqi government, and since this is the largest rate among the Shiite community in Iraq, the most important group for the government for its political support, this means that the societal basis for the legitimacy of the government in Iraq is largely lacking, and this lack of community support. It may mean more political instability in the country, and it also means that many of the Iraqi public view its government as a cause of problems rather than a solution to many of the economic, social and political challenges in Iraq. aynaliraqnews.com
butterfly Parliamentary Integrity: Mafias behind preventing the opening of the currency auction file in Iraq
Wednesday 26 May 2021 | 12:30 p.m. Parliamentary Integrity - Mafias behind preventing the opening of the currency auction file in IraqThe Parliamentary Integrity Committee revealed, on Wednesday (May 26, 2021) the parties behind the auction of currency sale in the Central Bank of Iraq .
A member of the committee, Representative Taha Al-Dafa’i, said that “the file of the auction sale of currency in the Central Bank of Iraq, behind which are large political forces, mafias of corruption and private banks belonging to influential parties and personalities .”
Al-Defense said that “the most prominent axes of questioning the governor of the Central Bank, was the file of the auction of selling the currency, but these major political forces prevented this questioning and will continue to work to disrupt it for the continuation of hegemony and control of this auction .”
A member of the Parliamentary Integrity Committee confirmed that “most of the political forces have private banks and are benefiting from the auction of selling the currency, and this auction provides huge profits for these banks belonging to prominent political parties and personalities, and this auction continues until now .” aynaliraqnews.com
butterfly MP Al-Fatlawi: The government bears the responsibility of besieging the people economically
2021-05-26 MP Al-Fatlawi - The government bears the responsibility of besieging the people economicallyOn Wednesday, Fadel Al-Fatlawi, the representative of the Al-Fateh Alliance, held the government responsible for the deterioration of the people’s economic situation after the decisions it had made regarding the dollar and the curfew, pointing out that Parliament is currently moving to ensure the improvement of the economic situation and the elimination of poverty.
Al-Fatlawi said in a press statement, “The government bears responsibility for what the people suffer from the great deterioration of the living situation, especially after the measures it has taken regarding the comprehensive curfew during the past few days, as well as raising the dollar exchange rate.”
He added that “Iraq needs an economic rescue plan to improve the level of per capita income, eliminate unemployment, and reduce prices to an acceptable level, which is what the government must do.”
Al-Fatlawi explained, “There are moves within Parliament in order to ensure a change in the citizen’s economic reality, and to improve the living situation in line with the requirements of the stage.” burathanews.com
butterfly The dollar jumps and touches 150 thousand dinars in Baghdad and the Kurdistan Region
2021-05-26 00:26 The dollar jumps and touches 150 thousand dinars in Baghdad and the Kurdistan RegionShafaq News / The exchange rates of the dollar rose on Wednesday on the main stock exchange in Baghdad and Kurdistan Region.
The Shafaq News Agency correspondent said that the Al-Kifah and Al-Harithiyah Central Stock Exchange in Baghdad registered 149,150 Iraqi dinars, compared to 100 US dollars.
While the Central Kifah Stock Exchange recorded 148850 Iraqi dinars during its opening on Tuesday morning.
Our correspondent indicated that the buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 149,500 Iraqi dinars, while the purchase prices reached 148,500 dinars per 100 US dollars.
As for Erbil, the capital of the Kurdistan Region, the price of the dollar also witnessed a rise, as the selling price reached 149,200 dinars per hundred dollars, and the purchase was 149,000 dinars per hundred US dollars.
butterfly Deputy: The original budget tables were withdrawn after the vote and what was sent to the Presidency of the Republic was tampered with
16:02 – 05/26/2021 Deputy - The original budget tables were withdrawn after the vote and what was sent to the Presidency of the Republic was tampered withInformation / Special …
A member of the Parliamentary Finance Committee, Abd al-Hadi al-Saadawi, revealed, on Wednesday, that the budget tables that reached the Presidency of the Republic have been tampered with.
Al-Saadawi said, in a statement to the agency / information /, that “the tables that have been voted on budget numbers have been placed before us, something that was sent to the Presidency of the Republic, another thing and there is great manipulation in it.”
He added, “The manipulation took place before its exit from Parliament, and this means the presence of some parties that have changed the numbers in the budget sent to the Presidency of the Republic.”
He pointed out that “the original copies of the budget, which were voted on, were withdrawn from all MPs, and there was no remaining original copy of the 2021 budget almaalomah.org
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Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Harb: The Security Council’s entry into the elections made it impossible to postpone
18:25 – 25/05/2021 Harb - The Security Councils entry into the elections made it impossible to postponeInformation / Special … The legal expert, Tariq Harb, confirmed, on Tuesday, the impossibility of postponing the election date again after the Security Council entered into the matter.
“It is impossible to postpone the elections again after Iraq sends 3 letters of recommendation to the UN Security Council to supervise and monitor the upcoming parliamentary elections ,” Harb said in a statement to the agency .
He added, “If the matter was only to inform the council about holding the elections, it would have been possible to postpone them, but after setting a date and informing the United Nations of this date, it became impossible to postpone it.” He pointed out that “the Security Council will reject any proposal to postpone the elections due to the provision of a cadre and its equipment for supervision or monitoring.” almaalomah.org
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Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Harb: The Security Council’s entry into the elections made it impossible to postpone
18:25 – 25/05/2021 Harb - The Security Councils entry into the elections made it impossible to postponeInformation / Special … The legal expert, Tariq Harb, confirmed, on Tuesday, the impossibility of postponing the election date again after the Security Council entered into the matter.
“It is impossible to postpone the elections again after Iraq sends 3 letters of recommendation to the UN Security Council to supervise and monitor the upcoming parliamentary elections ,” Harb said in a statement to the agency .
He added, “If the matter was only to inform the council about holding the elections, it would have been possible to postpone them, but after setting a date and informing the United Nations of this date, it became impossible to postpone it.” He pointed out that “the Security Council will reject any proposal to postpone the elections due to the provision of a cadre and its equipment for supervision or monitoring.” almaalomah.org
butterfly Al-Maliki reveals his position on postponing the elections and the emergency government
05/25/2021 10:00:55 Al-Maliki reveals his position on postponing the elections and the emergency governmentThe leader of the State of Law coalition, Nouri al-Maliki, revealed his position on the calls to postpone the early parliamentary elections scheduled for next October 10 and the formation of an emergency government.
Al-Maliki said in a statement that the Euphrates News Agency received a copy of, “There has been a lot of talk lately about postponing the parliamentary elections. We would like to confirm that the elections will take place at the time officially specified and not postponed. We also affirm our strong rejection of the emergency government because it means a rebellion against democracy, the principles of parliamentary power rotation, and abuse.” And detracting from the will of the Iraqi people, who decided to take part in the widespread elections. ”
And he stressed that “the efforts of the High Electoral Commission should not be wasted, after it had gone a long way in preparing and overcoming difficulties and challenges.”
Al-Maliki called on “the political and social forces to announce their rejection of the idea of delay and insist on establishing it.”
He called on “the government to plan and work diligently and firmly to provide a security environment that protects candidates and voters and prevents fraud.” alforatnews.com
Zig We interrupt Guru postings with articles....sorry....lol
butterfly Parliamentary Finance shows the impact of the increase in oil prices on the Iraqi economy
2021-05-25 Parliamentary Finance shows the impact of the increase in oil prices on the Iraqi economyToday, Tuesday, a member of the Parliamentary Finance Committee, Jamal Cougar, pointed out to the most prominent doors that the financial surplus can be directed to from the global price difference of a barrel of oil.
Cougar said in a press interview that “global oil prices at this stage are very normal compared to the price in the federal budget, and it is not possible to talk about the existence of a surplus between the two prices, on many considerations, including that the prices currently are approximately 66 dollars per barrel of Brent type.” Iraqi oil is less than two dollars or a little more, and the net price in the budget is 45 dollars. ”
Indicating that “Iraq’s sale of oil at $ 62 a barrel is not considered a net amount for the country’s treasury, given that the licensing rounds take between 14-16 trillion dinars, and for each barrel at least two dollars are given to companies, which means that the disbursements of each barrel are an estimate of up to 15 dollars, which means The surplus, even if it is there, will be very small. ”
Cougar added, “In the event of an increase in global oil prices during the next few months, it is possible to benefit from it within the main chapters, the first of which is the preparation of a supplementary budget, given that holding elections in October will make it difficult for the next government and parliament to prepare a budget for the next year, which makes us need. To a supplementary budget “,
Pointing out that “the other door is the possibility of benefiting from the expected surplus to pay off outstanding foreign loans that were due for payment and were postponed in the budget, including the prices of gas exported from Iran to Iraq to operate the power stations.”
butterfly “The third chapter is to feed the central bank’s reserves, from which a large amount of surplus amounts were withdrawn in previous periods, if they rose to large numbers, in order to revive it for its importance in the monetary and financial policy of the country,” he said. burathanews.com
butterfly Parliamentary integrity: The Corruption Funds Import Law will include the opening of pre-2003 files
2021-05-25 Parliamentary integrity - The Corruption Funds Import Law will include the opening of pre-2003 filesA member of the Parliamentary Integrity Committee, Jamal Shakour, revealed, on Tuesday, the details of the law on importing money smuggled abroad, indicating that corruption files before 2003 will be opened.
Shakour said in a press statement that “the draft law does not specify an amount for money smuggled from the proceeds of corruption, and the sums are large, and the bill includes proceeds of corruption from 2003 until before, which were smuggled by people who previously held government positions.”
He added that “the current parliament can legislate the law as it has about 5 months to hold legislative elections,” stressing that “the legislation of the law can take place within one month at the latest.”
Shakour pointed out that “the law comes in implementation of the provisions of the United Nations Convention against Corruption in 2004, and the prosecution of those wanted and convicted abroad after the legislation of the law is done in cooperation with the Ministry of Foreign Affairs, the Public Prosecution Service, the Federal Supervision Bureau and any party related to the issue, through investigation and exchange of information.” burathanews.com
Dave butterfly like that last post....
Dave Maliki may not.....
Zig People sit and wait for an RV and postpone what needs to be done..like find work
Zig Oui
Dave wait until i become fully retired......
Dave that should drive some folks nuts
Dave could have a discussion on all that ISO banking terminology......
25 May 21, 04:00 PM PeteV hi
BobbyC If you have the new ISO, you can exchange btwn 4 and 4:02 pm on Tuesday
BobbyC I thought SandyF answered/addressed it quiet well. We still wait and see what the end game is. It's an after the fact event, just as a Float would be
Sheila Suspicious0bservers, May 25, 2021, Solar Storm Forcing of Earth Rotation and Axis Tilt -- https://www.youtube.com/watch?v=Ziqr8-8CqBw
butterfly Iraqi President: $150bn Smuggled from Iraq since 2003.............25th May 2021.......Iraqi President Barham Salih [Saleh] has claimed that an estimated $150 billion has been smuggled out of Iraq since 2003.
In a televised address, he said that this was from a total of close to $1 trillion in oil revenues.
He added: "As I introduce a draft law to parliament to recover Iraqi funds lost to corruption and to hold corrupt figures accountable, I reiterate our call for the formation of an international coalition to combat corruption,a root cause of terrorism and scourge of Iraq's political economy." (Source: @BarhamSalih)
butterfly EUR15m Anti-Corruption Project in Iraq...25th May 2021........Fostering justice to curb corruption in Iraq: €15 million project supports transparency and accountability across state institutions
A EUR 15 million initiative aimed at curbing corruption in Iraq and bolstering transparency and public accountability has been launched today in partnership between the European Union Delegation to Iraq, the United Nations Development Programme (UNDP), and Iraqi federal and Kurdistan state institutions.
The project, entitled Support to justice initiatives curbing corruption and promoting commercial dispute resolution, builds on Iraq's national efforts to improve transparency and accountability across state institutions and supports Iraq to deliver to its national and international commitments with regard to the fight against corruption. It aims to improve the country's legislative and strategic framework for combatting corruption, supports the justice sector to better process corruption offences, and fosters the development of commercial courts and arbitration mechanisms. It will also empower Iraqi civil society to take a more active role.
Overall, this project enhances Iraq's compliance with the United Nations Convention against Corruption, ratified in 2008, and contributes to creating a more conducive environment for attracting economic investments. Critically, the project leads to an improved citizen-state relationship, transparency and public awareness.
Activities under the project include notably support to Iraqi institutions to revise national anti-corruption laws, promoting their alignment with international standards and the provision of specialized on-demand training and mentorship opportunities for corruption investigators and integrity judges.
butterfly The project builds on a close collaboration with a number of federal and KRI state institutions, including the Higher Judicial Council and Judicial Council of the Kurdistan Region; Federal and Regional Commissions of Integrity; Council of Representatives and House of Representatives of Kurdistan Region; Federal and Regional Prime Minister Offices, as well as Iraqi civil society organizations.
The Ambassador of the European Union to Iraq, H.E. Martin Huth, stresses that ''the fight against corruption requires a joint and united effort, from the Iraqi government, state institutions, and an ever vigilant and watchful Iraqi society. With the launch of this important initiative, the EU offers critical support to Iraqi state institutions mandated in the integrity domain. This project helps Iraq deliver on its own national and international commitments and respond to the clear expectations of Iraqi citizens to rid Iraq of the plague of corruption. I look forward to seeing a continued strong political will, national ownership and joint steering of this initiative for the benefit of Iraq and its people."
"The Iraqi people have taken to the streets to demand action against corruption" says Resident Representative of UNDP Iraq, Zena Ali Ahmad. Their voices are louder than ever and should no longer be ignored. By strengthening transparency and public accountability through robust anti-corruption reforms, we aim to increase access to the rule of law and restore the public's confidence in the institutions that serve them.
"We are extremely grateful to our longstanding partner the EU, who has taken a bold commitment to supporting one of the most complex and challenging undertakings in Iraq, and to our partners across the Iraqi and Kurdish Region state institutions for entrusting UNDP to lead this effort," she adds. (Source: UNDP)
NORV :Float: :Float:
NORV http://newsabah.com/newspaper/252188
butterfly 2021-05-25 14:19 Shafaq News / Iranian Deputy Foreign Minister on Economic Diplomacy announced his country's readiness for omitting entry visas with Iraq at any moment, Mehr news reported.
Rasoul Mohajer made the remarks on the sidelines of a meeting between Iranian and Iraqi businessmen, as well as economic activists in Baghdad on Tuesday.
"If accorded, Iranian and Iraqi citizens can commute between the two countries without an entry visa," he added.
However, Mohajer noted that passengers of the two sides need to be checked for COVID-19.
butterfly 2021-05-25 07:43 Shafaq News / Kurdistan’s Deputy Prime Minister in the region, supervised today, Tuesday, a special meeting on the increase in suicides and violence against women in the Region.
The meeting, which was attended by the concerned ministers and relevant authorities and institutions, issued recommendations on violence against women, including:
• To take quick and decisive steps to promote suicide and violence awareness
• To apply the law by arresting those accused of violence against women
• To educate officers and spokespersons for ministries and institutions on the principles of equality.
• The Supreme Council for Women in Kurdistan to adopt a special strategy to prevent cases of violence against women, in consultation with the ministries and concerned parties.
• To form a committee to monitor compliance with the code of ethics among organizations and media institutions regarding coverage of issues related to women.
• To empower the role of men in combatting violence against women.
It is noteworthy that in 2011, the Kurdistan Regional Government (KRG) passed Domestic Law No. 8, the Law against Domestic Violence in the Kurdistan Region of Iraq, which calls for the creation of women’s shelters. Kurdistan has some local NGOs that are permitted to run and maintain shelters for women fleeing violence.
BobbyC So per that article, floating the Dinar is of no benefit....duh. Either way they go, stay pegged
butterfly 2021-05-25 06:28 Shafaq News/ The United States pledged Tuesday to aid Gaza while keeping any assistance out of the hands of Hamas. U.S. secretary of State Anthony Blinken said on Tuesday in a joint conference with the Israeli Prime Minister Benjamin Netanyahu.
The 11-day war between Israel and Hamas killed more than 250 people, mostly Palestinians, and caused widespread destruction. The truce that came into effect Friday has so far held, but it did not address any of the underlying issues in the Israeli-Palestinian conflict.
“We know that to prevent a return to violence, we have to use the space created to address a larger set of underlying issues and challenges. And that begins with tackling the grave humanitarian situation in Gaza and starting to rebuild,” Blinken said as he began a regional tour to shore up last week’s cease-fire.
“The United States will work to rally international support around that effort while also making our own significant contributions.” He added that the U.S. would work with its partners “to ensure that Hamas does not benefit from the reconstruction assistance.”
Blinken will not be meeting with Hamas, which does not recognize Israel’s right to exist and which Israel and the U.S. consider a terrorist organization.
He addressed the larger conflict, saying “we believe that Palestinians and Israelis equally deserve to live safely and securely, to enjoy equal measures of freedom, opportunity and democracy, to be treated with dignity.”
Netanyahu hardly mentioned the Palestinians in his remarks, in which he warned of a “very powerful” response if Hamas breaks the cease-fire.
Netanyahu spoke of “building economic growth” in the occupied West Bank, but said there will be no peace until the Palestinians recognize Israel as a “Jewish state.” The Palestinians have long objected to that language, saying it undermines the rights of Israel’s own Palestinian minority.
butterfly The war was triggered by weeks of clashes in Jerusalem between Israeli police and Palestinian protesters in and around the Al-Aqsa Mosque compound, a site revered by Jews and Muslims that has seen several outbreaks of Israeli-Palestinian violence over the years. The protests were directed at Israel’s policing of the area during the Muslim holy month of Ramadan and the threatened eviction of dozens of Palestinian families by Jewish settlers.
The truce remains tenuous since tensions are still high in Jerusalem and the fate of the Palestinian families is not yet resolved.
The evictions were put on hold just before the Gaza fighting erupted, but the legal process is set to resume in the coming weeks. Police briefly clashed with protesters at Al-Aqsa on Friday, hours after the cease-fire came into effect.
Adding to the tensions, an Israeli soldier and a civilian were stabbed and wounded in east Jerusalem on Monday before police shot and killed the assailant in what they described as a terrorist attack.
Blinken will head to Ramallah later Tuesday to meet with Palestinian President Mahmoud Abbas, who has no power in Gaza and was sidelined by recent events. Abbas heads the internationally backed Palestinian Authority, which administers parts of the occupied West Bank but whose forces were driven from Gaza when Hamas seized power there in 2007.
Blinken will also visit neighboring Egypt and Jordan, which have acted as mediators in the conflict. Egypt succeeded in brokering the Gaza truce after the Biden administration pressed Israel to wind down its offensive.
sandyf BobbyC sandyf My question was the IQD has always been the IQD even during the Sadam era and post Sadam era with a new currency (denominations) yet it was still called the IQD. Now did it get a new ISO assignment? Usually a corresponding number aside the 4217? I have no idea - There was no new currency post Saddam era, the coalition forces issued a new series of the Iraqi dinar, something completely different.
BobbyC sandyf Yet post Sadam, it was still called the Iraqi Dinar. So now we're back to IQD, or IQN, as you state as a possibility. This is still has no bearing on what we're looking for because it's an after the fact event. If they re denominate they can call it whatever they want, we're still screwed, not a total loss, but not what people have envisioned
BobbyC Now you may say it wasn't a new currency in 2003 but in fact it was new because those new denominations weren't around during Sadam's days. Sounds new to me. It's been the Iraqi Dinar since 1930 (?) and has gone thru major changes and to this day remains the Iraqi Dinar
Sheila Bad Moon Rising by Creedence Clearwater Revival (CCR) - https://www.youtube.com/watch?v=tKJwvQfraY8
NORV BobbyC They will not float until the conditions are appropriate. But floating is what countries do. So Iraq will float...the questions is when are the conditions appropriate? First they need to diversify and launch a private sector, then they need pressure create on the CBI's capital account from investment. They need laws to encourage this investment. In other words, they are not ready.
NORV :Float: :Float:
BobbyC NORV I get the fact that they are not ready. Some say that if they were going to re denominate, why not just do it. Reasoning is they still have to have a monetary and economic policy that supports such a move. Monetary wise ya have to look at the weakness of the Banking Sector and amount of currency in and out of those Banks. Economy wise look at the dependency on oil revenue and no economic growth. So if they were to place the IQD as a currency reserve why a Peg?
BobbyC Oil exporters – even if they are economically advanced – often peg their exchange rate – and especially to the global reserve currency (i.e. US dollar).
Every Gulf Cooperation Council (GCC) country anchors its exchange rate to the oil-pricing currency (the US dollar).
The lone exception is Kuwait, which pegs to a basket of currencies.
There are several key justifications for oil exporters wanting to maintain a peg, particularly to the US dollar.
First, they receive revenues from oil sales in US dollars.
Second, if they are developing countries they can import the monetary credibility of the anchored nation.
Third, if they are small countries, adopting a floating currency may lead to greater vulnerabilities to large swings in the exchange rate.
BobbyC Now could they Float once they see stability within the exchange rate? Of course they could, countries do it all the time.
BobbyC Both the CBI and the IMF have stated a Peg to the USD is working and in my opinion, will work if and when the IQD becomes a reserve currency. Now just like the ISO discussion, does it really matter if they Float or Peg once they become a reserve currency? No. Once that happens we will see 2 options in front of us and our decision will be made. A re denomination, or as you have spoke of, a gradual increase. Question has always been......W
BobbyC What currency will they take International
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Zig’s Place Late Night / Early AM Tuesday 5-25-21
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Sandyf @BobbyC It's been the IQD since the early 1900's I see no reason why that will change. - The reason would be exactly the same as many other countries that have changed the ISO code, Redenomination. Zimbabwe in its relatively short life had had 4 currencies, ZWD,ZWN,ZWR and the latest ZWL. Everyone calls it the ZIM because they do not understand ISO codes or the difference between an active currency and a discontinued one. Everyone in dinarland will have to give a shxx if the IQD becomes discontinued through redenomination.
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Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Sandyf @BobbyC It's been the IQD since the early 1900's I see no reason why that will change. - The reason would be exactly the same as many other countries that have changed the ISO code, Redenomination. Zimbabwe in its relatively short life had had 4 currencies, ZWD,ZWN,ZWR and the latest ZWL. Everyone calls it the ZIM because they do not understand ISO codes or the difference between an active currency and a discontinued one. Everyone in dinarland will have to give a shxx if the IQD becomes discontinued through redenomination.
Sandyf Currencies are controlled under ISO 4217. In the event of a redenomination the new currency will be placed in Table 1 and the superseded currency will be moved to Table 3. https://www.iso.org/iso-4217-currency-codes.html
BobbyC sandyf I've always said a re denomination was a very real possibility, one of 3 in my thinking, our end game would be over so therefore I could care less about an assigned ISO. My question was the IQD has always been the IQD even during the Sadam era and post Sadam era with a new currency (denominations) yet it was still called the IQD. Now did it get a new ISO assignment? Usually a corresponding number aside the 4217? I have no idea
Butterfly Advisor to the President of the Republic: The Law on Recovering Stolen Funds and Its Proceeds monitors assets that exceed 500 thousand dollars
Monday 24, May 2021 23:06...............Advisor to the President of the Republic, Abdullah Al-Zaidi, announced that the Law of Recovering Stolen Funds and Its Proceeds monitors assets that exceed 500 thousand dollars.
Al-Zaidi said in a televised statement: "The law to recover the stolen money and its proceeds pursues the files even after death."
He continued, "The law obliges all officials to authorize that removes the secrecy of their bank accounts, indicating that the authorization will allow monitoring of accounts internally and externally, indicating that the money-back law is not limited to a specific time.
The President of the Republic, Barham Salih, presented a draft law for" recovery of proceeds of corruption "and accountability. The spoilers are brought to justice, according to a presidential statement received on Sunday, the Iraqi National News Agency / NINA/ A copy of it:
"The draft law on" recovering proceeds of corruption "submitted by the President to the House of Representatives guarantees that all Iraqi state officials who have held the highest positions most vulnerable to corruption, from 2004 until now, are subject to the rank of director general and above, The competent financial authorities prepare a documented list of the occupants of these positions during the past 17 years .
butterfly Al-Abadi launches the "Let me participate" initiative to support and protect the right to be elected and elected
Monday 24, May 2021 23:08.....The head of the victory coalition, Dr. Haider al-Abadi, launched today: The National Campaign (Let me participate), to ensure the right of candidates and voters to participate in the upcoming elections without intimidation or imposing wills.
In a statement, through this initiative, Al-Abadi called on governmental institutions and political forces to guarantee the right to fair, secure and fair electoral participation.
The “Let Me Participate” initiative is a national media campaign aimed at: protecting candidates and voters alike, and ensuring broad popular participation in the elections. And pressure on relevant institutions and political forces together to provide a peaceful, secure and fit electoral environment for electoral participation for candidates and voters, which is a media campaign on the diversity of visual, read, written and communicative media to implement (let me participate) programs, and through partnerships with activities with media institutions, websites and civic youth organizations to expand the base of activities And at different age and regional levels.
Butterfly The Chairman of the Board of Commissioners discusses with the deputy UN Special Representative the latest preparations for holding the elections as scheduled
Tuesday 25, May 2021 16:17....................The Chairman of the Board of Commissioners, Judge Jalil Adnan Khalaf, discussed with the UN Deputy Special Representative for Iraq for Political Affairs and Electoral Assistance Ingebjburg Solron Gisladottir, the latest preparations for the elections as scheduled.
The Commission stated in a statement received by the Iraqi National News Agency / NINA / a copy of it: “The Chairman of the Board of Commissioners discussed during the meeting, which was attended by a member of the Board of Commissioners, Ahlam Al-Jabri, with Ingebeurg, the latest preparations for holding the elections on the scheduled date of October 10, and what the commission cadres are making of Preparations for distributing the biometric voter card. "
For her part, the Deputy Special Representative of the United Nations Special Representative in Iraq, Ingebeurg, praised what the Commission is currently doing, considering that the great work in a difficult period that requires from all concerned a lot of support and support.
Judge Jalil Adnan Khalaf emphasized the necessity of this continuous communication with the United Nations mission and informing it of the procedures of the Board of Commissioners step by step.
butterfly The Foreign Minister receives a copy of the credentials of the Philippine ambassador to Baghdad
Tuesday 25, May 2021 16:13.................Foreign Minister Fuad Hussein received today, Tuesday, a copy of the credentials of Genresu Kalonk, the Philippine ambassador to Baghdad.
The Foreign Ministry stated in a statement that the Iraqi National News Agency / NINA / received a copy of it: "During the meeting, the two sides discussed relations between the two countries, and ways to enhance them in the interests of the two friendly peoples."
The minister expressed Baghdad's aspiration for a greater role for the Philippines in various fields, stressing Baghdad's interest in strengthening communication between officials of the two countries and opening channels for bilateral cooperation, calling for continued work to raise levels of coordination and consultation at all levels.
The minister wished the ambassador success and success in his duties in Baghdad, expressing the readiness of the Ministry of Foreign Affairs to provide all services to the diplomatic mission. To achieve the common interests between the two countries.
butterfly 2021-05-25 06:14 Shafaq News / The Executive Director of Small Industries and Industrial Towns of Iran, Ali Rasoolian, confirmed today his country's willingness to cooperate with Iraq in the field of joint production and export.
"The proposed cooperation will be based on the consensus reached between the Iranian Ministry of Industry, Trade, and Minerals and Iraqi officials," he said.
Rasoolian expressed the organization’s readiness to set up commercial meetings and establish industrial networks in the Kurdistan region.
For his part, the governor of al-Sulaymaniyah, Havall Abubakr, confirmed that it was agreed to establish an industrial city on the borders of Bashmakh, bordering Kurdistan.
He pointed out that the cooperation between the Iranian Kurdistan Governorate and the Kurdistan Region of Iraq resulted in an ongoing business even amid COVID-19, and the increase in inter-border trade by 450 million dollars.
butterfly 2021-05-25 05:47 Shafaq News / the Central Bank of Iraq on Tuesday, announced an increase in the foreign currency exchange.
Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 3.28% increase to 189,223,450 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.
He added that the sales operations were in the form of wire transfer and credits (137,923,450$) and cash money (51,300,000$).
Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.
The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.
butterfly 2021-05-25 04:27 Shafaq News / The dollar exchange rates stabilized in the Iraqi market today, Tuesday (May 25, 2021).
• The Kifah Stock Exchange recorded 148,850 dinars, for $ 100.
• The Al-Harthiya Stock Exchange recorded 148,850 dinars for 100 dollars.
In Baghdad Selling prices in the banking stores in the local markets
•Sale price: 149,250 dinars for $ 100 • Purchase price: 148,250 dinars for $ 100
In Erbil Selling prices in the banking stores in the local markets
•Sale price: 149,000 dinars for $ 100 • Purchase price: 148,500 dinars for $ 100
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Zig’s Place Chat and News Sunday PM 5-23-21
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BobbyC Favorites · tr2Sponsoraedhh ·
We posted the post below on May 4 to talk about Iraqi smuggled funds abroad. Today, Mr. President of the Republic introduced a bill on recovery of corruption funds. We repost the topic as a reminder of the proposed solutions...
Disclosure of a diplomatic movement to retrieve Iraqi funds from abroad
Of course, the topic is very important but complicated.
Here I will try to brief the matter by how many points are necessary.
First, we must know the sources of this money and the most important stages that have passed in Iraq.
The first stage, the post-Kuwait war and the period of international sanctions against Iraq.
Among the international sanctions was the freezing of Iraqi funds and assets abroad, and there was also debt to Iraq on some countries that stopped paying!
Zig’s Place Chat and News Sunday PM 5-23-21
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23 May 21, 12:07 PM BobbyC Favorites · tr2Sponsoraedhh · LINK
We posted the post below on May 4 to talk about Iraqi smuggled funds abroad. Today, Mr. President of the Republic introduced a bill on recovery of corruption funds. We repost the topic as a reminder of the proposed solutions... Disclosure of a diplomatic movement to retrieve Iraqi funds from abroad #الاموال_العراقية_في_الخارج! LINK
Of course, the topic is very important but complicated.
Here I will try to brief the matter by how many points are necessary.
First, we must know the sources of this money and the most important stages that have passed in Iraq.
The first stage, the post-Kuwait war and the period of international sanctions against Iraq.
Among the international sanctions was the freezing of Iraqi funds and assets abroad, and there was also debt to Iraq on some countries that stopped paying!
The previous regime then used crooked ways and with different names to register Iraqi assets and funds in the accounts of some individuals and companies, and these amounts are estimated to be up to $ 80 billion distributed to more than 50 countries.
The second stage was the looted money during 2004-2003 This money, monuments, and stolen, as well as the coalition's money that was pumped into the Iraqi economy cannot be counted, and my estimate exceeds tens of billions.
BobbyC The last of which is the stage we have been living since 2005 to this day. It is also difficult to determine the appointed figure smuggled money, but I say it is up to twenty percent of Iraq's annual budgets.
(Depending on the commons that money laundering needs 80 percent to launder 20 percent) which is money, uncompleted investments, space salaries, smuggling currency in different ways.
Live theft.
Knowing that the total budgets since 2005 to 2020 are up to $ 1342 billion (note no budget for 2014 and 2020)
Simply smuggled money in illegal ways for the past fifteen years is estimated at $ 268 billion.
The total for the last thirty years exceeds $ 358 billion.
To clarify that Iraq's budget for 2021 was estimated to be up to $ 80 billion. It means smuggled money is equivalent to balancing Iraq for more than 4 years..
The solutions.
Initially, corruption operations, smuggling money, and close the door well, depending on its automation and electronic transformation as soon as possible, in cooperation with all the authorities, the first of which is banks.
Legislation of necessary laws in cooperation with the relevant countries and relying on the International Contact Group group formed last year.
BobbyC Legislation of agreements with relevant countries to exchange information and wanted.
Also, assignment of an integrity employee or the Anti-Money Laundering Office to be part of the business attachments team in the related capitals from which money is expected.
Commercial accessories and embassies should start collaborating and looking for surveillance companies and investigating Iraq's funds in these countries.
Finally, we must invest immediately by all means available to stop the bleeding of Iraqi money abroad at all costs, because it will simply be less expensive in the future, as we saw from the total smuggled money.
#عقيل_الأنصاري LINK
BobbyC Quiet a few put their eggs in a basket of Iraq affording a revalue thru smuggled/frozen assets
Dave BobbyC have heard accounts that Iraq has frozen between 180-220 billion usd in banks abroad
BobbyC Yep Now they just have to figure out btwn that and owed debt. Wasn't there talk the other day that if Iraq introduced the LD's, the IQD would have a new name? I know there was talk about the ISO
Dave BobbyC Sandyf...IQN.......
BobbyC Cool doubt it, but cool lol was it not the IQD under Sadam?
Dave yep....
BobbyC So if it's still called the IQD post 2003, I doubt it will get a name change. On the other hand, who gives a **
Dave green back,dollar,buck all the same thing?
BobbyC Yeah I think sometimes we make this way more complicated than it should be or someone needs attention
Dave CBI never ever mentioned IQN.......?
BobbyC It's been the IQD since the early 1900's I see no reason why that will change
BobbyC And since that time the denominations have been altered
Dave BobbyC esp those fils 2004 that were not released
BobbyC True but they were released lol. You can buy em right? I've read articles about the roll out and 5 minutes after, Iraqi's were melting them for their mineral value
Dave BobbyC can purchase 50 dinar notes also
BobbyC It was supposed to ease the way during the turnover of currencies but it wasn't very well thought out
BobbyC Yep one can get em but are they readily accepted in the market. Same as our 1K note
BobbyC Now the 50 was a total disater as far as the CBI was concerned
Dave needed 30 of em to buy that Coke.......
BobbyC Yeah and that's the push behind a re denomination
Dave worried that Zig may ban me fer mentioning Coke and wheel barrows
BobbyC Dave :HaHaHa:
BobbyC So is SandyF invested in this? Isn't he better known as Sam I am?
Dave Close......no cigar.....thats what Germany Russia Turkey Belarus did same themes
BobbyC So lemme ask you this. Was Iraq's 2021 Budget set at 129 trillion IQD?
BobbyC IQD
Zig BobbyC : No...two different people...Sandyf lives in Thailand and yes he has been invested a long time....Sam I Am is also active here from time to time.....
BobbyC Thanks Zig
BobbyC Actually no biggie on the 2021 Budget value
Dave what budget?
BobbyC If you were the CBI and you sold a 25K note for roughly 20 USD knowing that I was going to buy it back for 25K USD don't you think people would think I was kinda stupid?
BobbyC The Budget that was passed, ratified and published
Dave Bingo...why i invested
BobbyC Bingo? What part of that statement told you this was a good investment lol Is it not a true statement?
Dave stupid is as stupid does.....
BobbyC The I in my question was referring to the CBI. My bad
BobbyC I gave up the instant millionaire for 1K a long time ago That said, I'm still invested :)
Dave BobbyC CBI......"delete 3 zeros and increase purchasing power of the IQD" is All I have.....
Dave occasional chatter about FILS.....
BobbyC Yeah I read that article and indeed they will have "purchasing power" after the fact ** they have it now
Butterfly In the document: Parliament sets the 31st of this month as the date for the questioning of the Minister of Finance Sunday 23, May 2021 19:26 .........The House of Representatives set the 31st of this month as a date for the questioning of the Minister of Finance.
butterfly Blinken: Iran has not yet shown its willingness to take the required steps to return to the nuclear deal
Sunday 23, May 2021 21:02......US Secretary of State Anthony Blinken said that the United States has not yet seen indications that Iran is ready to take the necessary steps to return to the nuclear deal.
Blinken indicated, in an interview with ABC network today, Sunday, that the ongoing negotiations in Vienna between the United States and the current parties to the nuclear agreement, without a direct dialogue between Washington and Tehran, have allowed defining the steps that both parties must take in order to return to compliance with the terms of the deal.
He said, "Thus, we know what sanctions will need to be lifted because they are not in line with the nuclear deal, but it is more important and more important that Iran, according to my belief, knows what it must do to return to compliance with the nuclear agreement."
The minister added, "We have not yet seen whether Iran is ready and seeking to adopt a decision to do what it must do. It is a test and we have not seen the answer yet."
Blinken held Iran responsible for engaging in destabilizing activities in the region, including financing extremist groups, supporting terrorism more broadly, supporting dangerous proxies affiliated with it, taking destabilizing steps in various parts of the Middle East, and violating the non-proliferation regime.
butterfly He warned that Iran, in the event that it acquires a nuclear arsenal or the ability to achieve this goal within a short period, will tighten its behavior in these areas, stressing that President Joe Biden's administration seeks to limit all these activities, after the administration of his predecessor, Donald Trump, failed in Accomplish this mission by adopting the strategy of "maximum pressure" against Tehran.
He said, "But the first thing that we need to do is to return the nuclear problem to the fund. Therefore, we remain committed to our attempts to see whether Iran will return to compliance with the nuclear agreement .. In this case, we will use that as a platform to continue work and try to deal with all these issues."
butterfly Staging a sit-in tents in front of the Qaimaqamiyat Al-Rifai building in Dhi Qar to protest Al-Rikabi taking over the administration of the judiciary
Sunday 23, May 2021 21:31...........Dozens of residents of al-Rifai district in Dhi Qar province demonstrated this evening, Sunday, denouncing Ammar al-Rikabi assuming the position of District Judge.
Eyewitnesses told the Nassiriya News Network: "A number of protesters set up sit-in tents in front of the Qaimaqamiya building in the middle of the district, and demanded the cancellation of Rikabi’s assignment of this position."
butterfly The arrival of a new shipment of the US Pfizer vaccine against Corona
Sunday 23, May 2021 20:54...........The General Company for Marketing Medicines and Medical Supplies at the Ministry of Health announced the arrival of a new shipment of the emerging anti-corona virus vaccine produced by the American company Pfizer.
Sparky Supreme leader dinard ... what makes you think that you'll profit from the IQD ?
Zig Sparky : Do you think we will ever profit from it?....I have my doubts.
Sparky Zig ... I think we can profit from being in the investment , yes ... maybe from finding out about another investment opportunity ...
Sparky ... simply from IQD , it's gonna be a while , imo ...
Sparky . I remember listening to a Phoenix33 call, and his sidekick Lakehouse was researching Bitcoin . back in 2012
Sparky ... they were onto it at $5 or less per ... discussing it with their peers ..visionaries ...
Dave still figure silver way undervalued.....recollect gold 32/oz.....silver about a buck...today silver 28 gold 1800.....Silver utilized greatly with circuitry and those solar panels.....
Dave each solar panel uses about .70oz of silver
Zig If you access this chat via https://my.cbox.ws/ZIGPLACE You can make the box much bigger by clicking this link ZIGPLACE - Cbox
Zig’s Place Chat and News Sunday AM 5-23-21
Zig’s Place Chat and News Sunday AM 5-23-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
BobbyC Dear Colleague, You are cordially invited to join the World Bank in the launch of their latest publication, ‘Addressing the Human Capital Crisis: A Public Expenditure Review for Human Development Sectors in Iraq’, to be held live in the Babylon Hotel, Baghdad, on May 31st-June 1st, and streamed live and on demand across the globe.
Iraq is facing a human capital crisis. As an early leader and investor in health & education (H&E), the country has fallen behind. Iraq spends the lowest share of public budget on H&E compared to MENA and upper Middle-Income countries. With limited public expenditure and questions over its efficiency, effectiveness and equity, poor quality services and macroeconomic challenges, Iraq is in need of immediate actions to achieve better human capital outcomes and subsequent long-term economic growth and diversification.
Zig’s Place Chat and News Sunday AM 5-23-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
BobbyC Dear Colleague, You are cordially invited to join the World Bank in the launch of their latest publication, ‘Addressing the Human Capital Crisis: A Public Expenditure Review for Human Development Sectors in Iraq’, to be held live in the Babylon Hotel, Baghdad, on May 31st-June 1st, and streamed live and on demand across the globe.
Iraq is facing a human capital crisis. As an early leader and investor in health & education (H&E), the country has fallen behind. Iraq spends the lowest share of public budget on H&E compared to MENA and upper Middle-Income countries. With limited public expenditure and questions over its efficiency, effectiveness and equity, poor quality services and macroeconomic challenges, Iraq is in need of immediate actions to achieve better human capital outcomes and subsequent long-term economic growth and diversification.
The launch of the upcoming “Iraq Human Development, Public Expenditure Review”, is a landmark moment to support the Iraqi Government with tangible steps to address human capital deficiencies in the country.
BobbyC Over two days, join leading figures in the Iraqi Government, World Bank and distinguished speakers on a new economic vision for Iraq that creates opportunities for all Iraqis. Iraq Human Development Forum is being held over two days, socially distanced and with extensive media coverage at the Babylon Hotel. For those that cannot join in Baghdad, do not worry, the conference is being live-streamed virtually across the world. There is no reason to miss out as all content will be available on-demand with complete interaction across all mediums.
Keynote Speakers
H.E. Dr. Khalid Batal Najim, Minister of Planning
H.E. Ali Hamid Al-Dalimi, Minister of Education
H.E. Dr. Nabil Kazem Abdel-Saheb, Minister of Higher Education and Scientific Research
Saroj Kumar Jha, Regional Director of the Mashreq Department, World Bank Group
Ramzi Neman, Head of World Bank Office in Iraq, World Bank Group
Dr. Wafaa Al-Mehdawi, Professor of Economics, Mustansiriya University and former Minister of Labor and Social Affairs
Highlights:
The importance of human capital development for Iraq’s growth & diversification agenda.
How could Iraq spend more and better on its Human Capital?
Addressing issues of equitable access to quality health and education services across Iraq.
The reform agenda to regain Iraq’ leading position on human capital.
Launch of the WB Human Development Public Expenditure Review Report.
BobbyC To our own government, we are their greatest capital because of our workforce and what we produce.....TAX REVENUE
BobbyC Iraq Oil Report 23 May 2021...........Argument and Analysis
Iraq desperately needs to grow its private sector — and it can. Mohammed Hussein, who is both a reporter for Iraq Oil Report and an economic expert and fellow with the Iraqi Economists Network, argues in a recent paper that reform-minded Iraqi leaders can take concrete steps now to lay the groundwork for stronger private sector development (PSD).
"Given the political constraints and challenges that have hindered the PSD strategy... any reform or PSD programme should start with practical steps from where the interests of the ruling elite do not contradict development goals," he writes, highlighting tourism, agriculture, and light food as industries where there is quick growth potential.
One way for policymakers to start taking advantage of that opportunity is simply to keep the government out of the way. For example, lawmakers could streamline legal obstacles that make it costly and time-consuming for businesses to get licenses to operate.
"Although Investment Law Number 13 (2006) is supposed to facilitate a single-window system and provide the investor with a business license within two weeks, the reality is different," Hussein writes.
"The law contradicts several other laws and the investor still needs a business license from investment offices of all relevant ministries.
He also recommends that the Central Bank of Iraq make loans accessible to young start-ups by easing eligibility requirements. In the longer term, he concedes, Iraq can only achieve the kind of total overhaul envisioned in the government's White Paper if political power shifts toward committed reformers and away from an entrenched elite supported by militias and corrupt patronage networks.
BobbyC Until then, Iraq will likely suffer from "an unbalanced playing field" created by and for "corrupt business people to bypass competition, benefiting their links to the political parties and armed groups. As a result, they have kept the investment climate very unfriendly and the private sector too weak."
Butterfly The Central Bank of Iraq launches the Scorecard project
Sunday 23, May 2021 10:29.........The Central Bank of Iraq announced the completion of the Scorecard Project for Environmental, Social and Governance Standards in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group to address supervisory issues in the banking sector.
According to a statement to inform the bank, the Central Bank of Iraq adopted the application of corporate governance in banks as a goal within the strategic plan period (2016-2020) to strengthen the systems of control and supervision based on international best practices in this as well as the field to keep pace with developments in the banking services.
He said The Scorecard project represents the (quantitative measure) of environmental, social and governance standards.
It should be mentioned that work on this project has started at the end of 2019, as pilot tests for the scorecard were conducted during the period (2020-2021) with the participation of all commercial and Islamic banks operating in the Iraqi banking sector. ”
According to the statement, the project will be launched through a meeting. Hypothetically, on the twenty-sixth of current May, in the presence of relevant local and international institutions, relevant authorities, and representatives of the Iraqi banking sector .
butterfly Member of Parliament: Increasing Iraq's share of oil exports is a step that will transport it qualitatively during the coming period
Sunday 23, May 2021 11:21 .......The Parliamentary Oil and Energy Committee affirmed that: Increasing Iraq's share of oil exports is a step that will transfer it qualitatively during the coming period.
Committee member Ghaleb Muhammad Ali indicated in a press statement: The possibility of Iraq to agree with the Kingdom of Saudi Arabia to raise the quantities of oil exported through "OPEC" after the reduction of its quota during the past year, which it committed to.
He said: Any economic agreement that takes place in the Organization of Petroleum Exporting Countries (OPEC) is in the interest of Iraq, as it is one of the countries with a rentier economy, and 97% of which depends on the export of oil.
Ali added that: Any increase in the price of oil, even for one dollar, will positively affect the economy in the country, as it is now exporting more than 3,250 thousand barrels, and revenues can increase.
And Muhammad Ali added that: Iraq, represented by Prime Minister Mustafa Al-Kazemi and the Minister of Oil, should discuss raising its share of oil exports with neighboring countries or an agreement with the Kingdom of Saudi Arabia, which has an influential decision in the organization, indicating that: This increase can transfer Iraq in a qualitative manner during the next stage. Because he suffers from security and economic problems.
butterfly Parliamentary law reveals to NINA the articles that the government will challenge in the General Budget Law
Sunday 23, May 2021 16:11....The Parliamentary Legal Committee disclosed the details of the articles and paragraphs that the government intends to challenge within the Federal Budget Law 2021 before the Federal Court.
A member of the committee, Representative Salim Hamza, stated in a statement to the Iraqi National News Agency / NINA / that "the House of Representatives has made amendments to the General Budget Law, and the government has the right to appeal the amendments and additions introduced by the House of Representatives before the Federal Court."
He added that "there are more than 10 articles in the General Budget Law that the government will challenge in front of the Federal Court, and the decision on the constitutionality of these amendments is up to the court," indicating that "the government will challenge an article requiring ministries to transfer some formations and join them to the Federal Service Council, as well as the article related to projects The development of regions, and the materials in which there may be deduction and tax on the salaries of employees and retirees. "
A member of the Parliamentary Legal Committee reiterated that "appealing to the general budget law will not stop its implementation. Even the mistakes that will be corrected by the Presidency of the Republic do not affect the application of the law, with the exception of the contested articles, which will be suspended until the court's decision."
The Cabinet session decided, in its session held on April 20, to authorize its president to appeal before the Federal Court a number of articles of the Federal Budget Law for the fiscal year 2021.
butterfly The exchange rate of the dollar is declining slightly in Baghdad
05/23/2021......{Economical: Al Furat News} Today, Sunday, the exchange rates of the dollar witnessed a slight decline in the main stock exchange in Baghdad.
Al-Kifah Central Stock Exchange in Baghdad recorded 148800 Iraqi dinars against 100 US dollars, while Al-Harithiya Stock Exchange in Baghdad recorded 148,750 dinars against 100 dollars.
While the Central Kifah Stock Exchange recorded 148800 Iraqi dinars during its opening on Saturday morning.
The selling and buying prices were stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 149,250 Iraqi dinars, while the purchase prices reached 148,250 dinars per 100 US dollars.
In the governorate of Erbil, the dollar prices also witnessed a slight decrease, as the selling price reached 148800 dinars per hundred dollars, and the purchase, at 148500 dinars per hundred dollars.
butterfly Parliamentary oil calls on the government to agree with Saudi Arabia to raise Iraq's share in OPEC
05/23/2021...... {Economical: Al Furat News} The Parliamentary Oil and Energy Committee affirmed that Iraq could agree with the Kingdom of Saudi Arabia to raise the quantities of oil exported through "OPEC" after the reduction of its share during the past year.
Al-Mukhtasar al-Mufid .. Committee member Ghaleb Muhammad Ali said in a press statement, "Any economic agreement that takes place in the Organization of Petroleum Exporting Countries" OPEC "is in the interest of Iraq, as it is one of the countries with a rentier economy and that 97 percent of it depends on exporting oil.
He continued, "Any increase in the price of oil, even if one dollar, affects positively the economy in the country, as it now exports more than 3,250 thousand barrels, and revenues can increase," noting that "Iraq is one of the countries that has committed to reducing its share of the exported crude oil." .
He stressed that "Iraq, represented by Prime Minister Mustafa Al-Kazemi and the Minister of Oil, should discuss raising its share of oil exports with neighboring countries or an agreement with the Kingdom of Saudi Arabia, which has an influential decision in the organization," noting that "this increase can transfer Iraq in a qualitative manner during the next stage as it is." He suffers from security and economic problems.
butterfly 2021-05-23 05:17 Shafaq News/ The Central Bank of Iraq sales of hard currency declined to nearly $173 million today, Sunday.
Shafaq News Agency correspondent reported that CBI sales at the Foreign Exchange Auctions registered a 16.83% decline in its sales to settle at $173,985,464, compared to $208,988,635 on the 15th of this month. The weighted average rate of the dinar to the U.S. dollar amounted to 1460.
Our correspondent explained that 30 banks and 11 exchange companies cashed $23.850 million, while $150,135,464 went to boost funds abroad in the form of transfers and credits, with 31 banks meeting those requests.
butterfly 2021-05-23 03:28 Shafaq News / Gold prices hiked today, Sunday, in the Iraqi markets.
The price of one mithqal of the 21-carat of Gulf, Turkish and European gold reached 387 thousand dinars, while its purchase price stood at 382 thousand dinars.
The selling and purchase prices of one mithqal of 21-carat Iraqi gold reached 357 thousand and 352 thousand dinars respectively.
The selling price of one mithqal of 21-carat Gold in black smithing shops ranged between 390 thousand and 395 thousand dinars, while its purchase price ranged between 360 thousand and 365 thousand dinars.
A mithqal is equivalent to five grams.
butterfly 2021-05-23 03:14 Shafaq News/ The Dinar/Dollar exchange rates dropped in Baghdad and Erbil today.
Shafaq News Agency correspondent said that Al-Kifah and al-Harithiya Central Exchanges are trading the 100 US dollar at 148800 Iraqi Dinars.
Our correspondent added that today's selling and buying prices in the local markets rose to 149250 and 148250 dinars per 100 dollars. In Erbil, the US buying and selling prices reached 148800 and 148500, respectively.
butterfly 2021-05-23 03:06 Shafaq News / The Central Bank of Iraq announced today completing the scorecard project for environmental, social, and governance standards, in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group, to address supervisory issues in the banking sector.
The Bank said in a statement that it had adopted corporate governance in banks as a goal within the strategic plan for the period between 2016 and 2020 to enhance control and supervision systems, based on international practices in this field, as well as keeping pace with developments in banking services.
The statement pointed out that work on this project had started by the end of 2019, as pilot tests for the scorecard were conducted during 2020-2021 with the participation of all commercial and Islamic banks operating in the Iraqi banking sector.
The project will be launched through a virtual meeting on May 26, to be attended by local and international institutions, as well as the relevant authorities and representatives of the Iraqi banking sector, as by the statement.
butterfly 2021-05-23 02:29 Shafaq News / Iraq ranked 80th in the world among the poorest countries during the year 2021, according to the Global Finance magazine.
In a recent report for the year 2021, the magazine reported that Iraq ranked 80th out of the 194 countries listed in the table in terms of per capita GDP, advancing 30 places towards poverty compared to the year 2020, in which it ranked 110.
Burundi ranked first in the world's poorest countries, followed by South Sudan, Somalia, and the Central African Republic. Malawi ranked, the Republic of the Congo, Niger, Mozambique, Liberia and Madagascar ranked fifth, sixth, seventh, eighth, ninth and tenth respectively.
In the Arab world, the poorest Arab countries were ranked as follows: Somalia, Yemen, Sudan, Libya, Morocco, Iraq, Jordan, Lebanon and Egypt.
"While GDP per capita is often considered the standard metric, by compensating for differences in living costs and rates of inflation, the purchasing power parity (PPP) can better assess an individual’s buying power in a particular country", the statement said.
"It is hard to pinpoint a single cause of long-term poverty. Dictatorial and corrupt governments can make what could be a very rich nation into a poor one. And so does a history of exploitative colonization, weak rule of law, war and social unrest, severe climate conditions or hostile, aggressive neighbors. Hence why economists often refer to “cycles” of poverty."
The magazine pointed out, "Underprivileged households worldwide, it goes without saying, suffered the worst social and economic consequences of the coronavirus pandemic. Less than a year ago, the IMF warned: “The fraction of the world’s population living in extreme poverty—that is, on less than $1.90 a day—had fallen below 10% in recent years (from more than 35% in 1990). This progress is imperiled by the COVID-19 crisis, with more than 90% of emerging market and developing economies projected to register negative per capita income growth in 2020.
xyz What IF?
butterfly Parliamentary Committee for / NINA /: The Social Security Law will allocate pension salaries for private sector workers Sunday 23, May 2021 17:30...........The Parliamentary Committee to Monitor the Implementation of the Governmental Program and the Strategic Planning has assured the workers of the possibility of enacting the Social Security and Workers' Retirement Law during the sessions of the current legislative term of the Council of Representatives.
The deputy head of the committee, Muhammad Al-Baldawi, said in a statement to the Iraqi National News Agency / NINA, / that "the Social Security Law will allocate pensions to this segment through the Security Department at the Ministry of Labor," indicating that "Parliament will proceed with the second reading of the articles of the Social Security Law and the retirement of workers within The next sessions. "
He added that "the new law will be broader and comprehensive than the previous law, as it will grant any profession from the private sector a pension," indicating that "employers, after the approval of this law, pay monthly retirement pensions in the Ministry of Labor, as well as taking into account the educational qualification of the worker before it is calculated." Rent ".
He went on to say, "This law defines a health insurance in the event that the worker is exposed to a specific accident, and whoever pays pension contributions at the Ministry of Labor will be covered by the pension within certain controls."
He explained that "private professions (a car driver, barber or worker) are entitled to a pension based on specific regulations and instructions once the law is passed."
On April 19, the House of Representatives postponed the second reading of the Social Security and Workers' Retirement Bill due to the lack of a quorum..
Butterfly Al-Kaabi: The legislative authority is keen on exercising the judicial authority its natural role in a democratic system Sunday 23, May 2021 16:58.........Barak Hassan Al-Kaabi, First Deputy Speaker of Parliament, formed the Federal Supreme Court and its members to assume their positions, stressing that the legislative authority is keen to ensure that the judicial authority exercises its natural role in a democratic system.
Al-Kaabi said, during his visit to the headquarters of the Federal Supreme Court and his meeting with its President, Jassem Al-Amiri: "No matter how developed countries that do not pursue a democratic system, they are unable to achieve an independent judicial system without interference by the authority in its affairs."
He added: "Our need now for a judicial institution with its various specializations stems from our need for the stability of the democratic system, and the Federal Court is one of the most important judicial institutions that are capable of creating stability, impartiality and justice, and a decision is made between opponents, whether at the level of institutions or even between the individual and the institution, good governance. It is achieved in the rule of law and faith in the justice of the law, not the other way around. "
Al-Kaabi noted, "Everyone agreed on one goal represented by the Federal Court exercising its great role in the unity of Iraq," stressing the need for cooperation between the legislative authority and the Federal Court in regard to legislating laws and drawing on their legal opinions to ensure the enactment of laws that are more sober and more beneficial to the citizen and the country as a whole.
butterfly Al-Halfi: This is what happened in the meeting with the French Security and Defense Committee
Sunday 23, May 2021 17:27.........A member of the Security and Defense Committee, representative of the "Sairoun" bloc, Saad Mayea Al-Halfi, revealed the details of the meeting held with the French Security and Defense Committee at the headquarters of the committee.
"During the meeting, views were exchanged on the most important security events on the local and international arenas and their repercussions on international peace, and the methods used to deal with them were discussed," Al-Halfi said in a statement.
"During the meeting, they discussed the possibility of increasing joint security cooperation between Iraq and France, and activating mutual coordination between the security and intelligence agencies in the two countries," he added.
He explained, "The meeting stressed the importance of unifying security efforts, specifically with regard to the aspect of exchanging information and delegations, and benefiting from experiences in a way that guarantees security and stability."
"We in the Security and Defense Committee focused during the meeting with the French delegation on the necessity of defining the tasks of the international coalition forces operating in Iraq within the framework of development and consultation, and not for anything else," Al-Halfi added.
He also announced an invitation extended by the guest committee members for the purpose of visiting France in order to enhance the understandings that are in the interest of the two friendly countries and to unify efforts in the face of violence and extremism.
butterfly Barham Salih: We have lost a thousand billion dollars since the fall of Saddam Hussein’s regime
2021-05-23 Barham Salih - We have lost a thousand billion dollars since the fall of Saddam Husseins regimeIraqi President Barham Salih revealed today, Sunday, that his country has lost a thousand billion dollars since the fall of Saddam Hussein’s regime in 2003 due to “rampant financial and administrative corruption in state institutions.”
In a speech on corruption in Iraq, he said, “The law on recovering the proceeds of corruption includes practical, deterrent, proactive measures, and includes subsequent steps to recover stolen money.”
He added, “The law to recover the proceeds of corruption also includes support for financial and supervisory institutions and activating their tools.”
The Iraqi president pointed out that “the draft law on recovering the proceeds of corruption seeks to recover the stolen money through agreements with states and cooperation with international bodies.”
Saleh called for the formation of an international coalition to combat corruption. burathanews.com
Butterfly The Central Bank of Iraq announces the launch of the Scorecard project within days
Sunday May 23, 2021 | 10:32 a.m. The Central Bank of Iraq announces the launch of the Scorecard project within daysOn Sunday, the Central Bank of Iraq announced the completion of the scorecard project for environmental, social and governance standards in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group to address supervisory issues in the banking sector .
The Central Bank of Iraq said in a statement; He adopted the application of corporate governance in banks as a goal within the strategic plan for the period (2016-2020) to strengthen the control and supervision systems based on international best practices in this field, as well as to keep abreast of developments in banking services .
He pointed out that the Scorecard project (quantitative scale) represents environmental, social and governance standards .
He pointed out that work on this project had started at the end of 2019, as pilot tests for the scorecard were conducted during the period (2020-2021) with the participation of all commercial and Islamic banks operating in the Iraqi banking sector .
He stressed that the project will be launched through a virtual meeting on the twenty-sixth of May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector.
aynaliraqnews.com
butterfly Deputy: The upcoming parliamentary sessions will include voting on important laws
05/23/2021 12:35:26 Deputy - The upcoming parliamentary sessions will include voting on important lawsThe representative of the Sairun Alliance, Salam Al-Shammari, revealed, on Sunday, that the upcoming sessions of the House of Representatives will include voting on important laws.
Al-Shammari said in a statement that Al-Furat News Agency received a copy of, that “the upcoming parliamentary sessions will witness a vote on important laws in order to leave positive imprints for the work of the current parliament,” stressing that “many of the laws have been completed by the relevant committees, whether it is an amendment or laws.” New and she is awaiting the inclusion of the presidency of the parliament in the next voting sessions. ”
He pointed out that “one of the most important of these laws is the amendment of the provincial councils law, the criminal court law, oil and gas, and the Federation Council, in addition to other laws,” stressing “the need to attend the sessions and achieve the required quorum in order to pass laws and the continuity of the supervisory work of Parliament in the service of the public interest.” alforatnews.com
butterfly The exchange rate of the dollar is declining slightly in Baghdad
05/23/2021 12:28:08 The exchange rate of the dollar is declining slightly in BaghdadToday, Sunday, the exchange rates of the dollar witnessed a slight decline in the main stock exchange in Baghdad.
Al-Kifah Central Stock Exchange in Baghdad recorded 148800 Iraqi dinars against 100 US dollars, while Al-Harithiya Stock Exchange in Baghdad recorded 148,750 dinars against 100 dollars.
While the Central Kifah Stock Exchange recorded 148800 Iraqi dinars during its opening on Saturday morning.
The selling and buying prices were stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 149,250 Iraqi dinars, while the purchase prices reached 148,250 dinars per 100 US dollars.
In the governorate of Erbil, the dollar prices also witnessed a slight decrease, as the selling price reached 148800 dinars per hundred dollars, and the purchase, at 148500 dinars per hundred dollars. alforatnews.com
Dave the Integrity Commission had frozen several hundred billion dollars of this Trillion in banks abroad....fer well over 1 yr now......figure that could go a long way to cover budget deficits fer yrs and yrs......
Dave 1 trillion usd ......1.5 Quadrillion IQD.........who could count that?
butterfly Representative Law: The government authorized Al-Kazemi to challenge 10 articles in the budget
12:22 – 23/05/2021 Representative Law - The government authorized Al-Kazemi to challenge 10 articles in the budgetThe information / Baghdad ..
The Parliamentary Legal Committee confirmed, on Sunday, that the government has the right to appeal the new articles in the budget by Parliament, which include sums of money that the government cannot provide, pointing out that the Council of Ministers authorized Al-Kazemi to submit the appeal with 10 new articles. It is noteworthy that the constitution grants the government legal authority to appeal before the Federal Court to cancel and annul the provisions that Parliament added to the Budget Law in accordance with the provisions of Article (13) of the Constitution, as they are unconstitutional provisions.
A member of the committee, MP Salim Hamza, said in a statement to / information /, that “the government has not yet submitted any appeal to the Federal Court regarding some of the articles contained in the Budget Law for the year 2021”, noting that “the Council of Ministers authorized Al-Kazemi to present the appeal with ten new articles.” .
Hamza added, “The articles that Al-Kazemi intends to challenge are articles created by the House of Representatives, which include sums of money that the government believes in its inability to provide it this year,” noting that “the most prominent appeals that will be submitted to the Federal Court are related to regional development projects.”
almaalomah.org
Dave Did you know? Today is the 21st day of the 21st week of the 21st year of the 21st century
Dave oops the other day......figured gurus would be all over that
Zig Dave : I'll take 21 cents each my Dinar....lol
butterfly Zig A 10K note for 21 cents?
Zig Each Dinar
butterfly Zig well that would make a difference but we have no clue when or even if it matters anymore. lol
23 May 21, 11:42 AM Dave Zig a nickle would be great.......
Zig @BobbyC: Thanks for contributing here...interesting stuff...
Doug_W Zig baxter only wants a dime
Zig If you access this chat via https://my.cbox.ws/ZIGPLACE You can make the box much bigger by clicking this link ZIGPLACE - Cbox
Zig’s Place Chat and News Saturday AM 5-22-21
.Zig’s Place Chat and News Saturday AM 5-22-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
butterfly While exact figures are "very challenging to determine", Elliptic estimates are based on data collected on Bitcoin miners by the Cambridge Centre for Alternative Finance up to April 2020 and statements from Iran's state-controlled power generation company in January, which showed that up to 600 megawatts of electricity was being consumed by miners.
Bitcoin and other cryptocurrencies are created through a process known as mining, where powerful computers compete with each other to solve complex mathematical problems. The process is energy intensive, often relying on electricity generated by fossil fuels, of which Iran has a rich supply.
Zig’s Place Chat and News Saturday AM 5-22-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
butterfly While exact figures are "very challenging to determine", Elliptic estimates are based on data collected on Bitcoin miners by the Cambridge Centre for Alternative Finance up to April 2020 and statements from Iran's state-controlled power generation company in January, which showed that up to 600 megawatts of electricity was being consumed by miners.
Bitcoin and other cryptocurrencies are created through a process known as mining, where powerful computers compete with each other to solve complex mathematical problems. The process is energy intensive, often relying on electricity generated by fossil fuels, of which Iran has a rich supply.
The country's central bank prohibits the trade of Bitcoin and other cryptocurrencies mined overseas, although the currencies are widely available on the black market, according to local media reports.
Iran officially recognised crypto mining as an industry in recent years, offering cheap power and requiring miners to sell their mined Bitcoins to the central bank.
The prospect of cheap power has attracted more miners, particularly from China, to the country. Tehran allows cryptocurrencies mined in Iran to pay for imports of authorised goods.
butterfly "Iran has recognised that Bitcoin mining represents an attractive opportunity for a sanctions-hit economy suffering from a shortage of hard cash but with a surplus of oil and natural gas," the study found.
The electricity being used by miners in Iran would require the equivalent of around 10 million barrels of crude oil each year to generate, around 4 per cent of total Iranian oil exports in 2020, according to the study.
"The Iranian state is therefore effectively selling its energy reserves on the global markets, using the Bitcoin mining process to bypass trade embargoes," the study said.
"Iran-based miners are paid directly in Bitcoin, which can then be used to pay for imports – allowing sanctions on payments through Iranian financial institutions to be circumvented."
Financial firms that have started offering cryptocurrency services, particularly in the US, should consider the potential sanctions they are exposed to due to Iranian Bitcoin mining, Elliptic said.
butterfly Central bank digital currencies may increase financial inclusion but are a headache for lenders...............May 22, 2021.....................The rapid development of central bank digital currencies could help to boost financial inclusion and stability, but they pose a threat to banks and could weaken their ability to lend, according to a report by Fitch Ratings.
CBDCs would help to speed up cashless payments and could "bring underbanked communities into the financial system" in many emerging markets.
In the Bahamas, for instance, where the "Sand Dollar" CBDC was introduced in October, low-value CBDC transactions can be carried out using just a phone number or an email address for identification.
“The deployment of CBDCs will create opportunities to strengthen financial system inclusion, innovation, resilience and efficiency, but may also give rise to new risks,” said Monsur Hussain, an analyst at Fitch Ratings and co-author of the report.
For instance, CBDCs "will inevitably involve households and businesses converting some of their commercial bank deposits into CBDCs", the report said.
All other things being equal, this would require banks to shrink their balance sheets", affecting their capacity to lend, it said.
butterfly China was one of the first major economies to develop plans for a CBDC back in 2014 and has already begun limited trials via mobile apps. Other major economies are quickly following suit.
Last month, the Bank of Japan began a year-long series of experiments for a digital yen and the UK Treasury and Bank of England set up a joint task force to develop a CBDC, nicknamed the "Britcoin".
And on Thursday, Federal Reserve chairman Jerome Powell announced that the US central bank will publish a discussion paper over the summer "outlining our current thinking on digital payments, with a particular focus on the benefits and risks associated with CBDC in the US context".
The Fed will listen to a range of voices before deciding "whether and how to move forward with a US CBDC, taking account of the broader risks and opportunities it could offer", said Mr Powell.
Whether or not the Fed proceeds with a CBDC, "we expect to play a leading role in developing international standards for CBDCs, engaging actively with central banks in other jurisdictions as well as regulators and supervisors here in the US", he said.
Governance and oversight of CBDCs is an issue that many of the pilot projects are wrestling with – particularly how to make digital payments easier while replicating the "anonymity of cash", Fitch Ratings said.
Complete anonymity for transactions is probably unlikely, given that this is one of the challenges central banks face with the growth of cryptocurrencies as an asset class and their widespread use in illicit activity.
butterfly Cryptocurrencies "have not served as a convenient way to make payments, given, among other factors, their swings in value", said Mr Powell.
He also indicated that as "stablecoins" – digital assets that are linked to the US dollar or other currencies – grow in use, so will the Fed's oversight of them.
Although users "may be reluctant to accept a digital cash substitute if it does not grant a sufficient degree of privacy", trade-offs already exist between anonymity and regulators' ability to track illegal activity, even through the use of cash, the Fitch report said.
"There may be variations in anonymity between markets, depending on local attitudes among the public and regulators. Party identification data may, for example, be limited between transaction participants. However, we believe in general that central banks and regulators are likely to have access to such information with CBDC transactions," said Fitch Ratings.
CBDCs could also give governments and central banks much greater control over how money is used, with programmable smart contracts allowing them to embed restrictions in how a currency is spent, for example.
A digital currency distributed as part of stimulus packages could also have expiry dates to encourage it to be spent within a specific period of time, the credit rating agency said.
butterfly Another potential benefit is the use of CBDCs in cross-border payments. The central banks of the UAE and Saudi Arabia concluded a year-long study known as Project Aber last year, which "confirmed that Distributed Ledger [blockchain] Technology can provide central banks with the ability to reimagine both domestic and cross-border payment systems in new ways".
In February, the UAE Central Bank said it was participating in a central bank digital currency project with the Hong Kong Monetary Authority, the Bank of Thailand and the People's Bank of China to investigate the use of CBDCs in cross-border payments.
"With issuance of CBDCs, money transfers [within and between countries] could be improved in terms of efficacy and cost," Deutsche Bank's chief investment officer Christian Nolting said in a note to clients last month.
However, any cross-border payment system that reduces the dominance of the US dollar in the global financial system could face challenges, Fitch Ratings said.
"Previous efforts to develop payment systems to bypass those controlled by the US have struggled, such as one launched by the EU to allow trade with Iran after the US tightened sanctions in 2018. This partly reflects the strong network effects enjoyed by incumbent systems, as well as the complexity of negotiating interoperability between jurisdictions."
butterfly Hisham Al-Suhail to / Nina /: Parliament will resume its sessions this week
Saturday 22, May 2021 18:20............Representative Hisham Al-Suhail confirmed that Parliament will resume its sessions this week.
He told the Iraqi National News Agency ( NINA ): Parliament has only a few months left before entering the elections, and important laws await for legislation.
Al-Suhail added that: The information that we received is that the Presidency of Parliament will call for the resumption of the sessions during the current week / without specifying a specific day.
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Zig’s Place Chat and News Friday PM 5-21-21
.Zig’s Place Chat and News Friday PM 5-21-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
butterfly He affirmed the steadfast and principled position of the Iraqi government and people and its unlimited support for the just Palestinian cause, whose sons have been making sacrifices for generations and great material losses, to preserve their inalienable right to establish their independent state, with honorable Jerusalem as its capital, in accordance with international resolutions.
He continued, as Iraq condemns the illegal and illegal decisions issued by the Israeli occupation regarding Al-Quds Al-Sharif, and totally rejects the prejudice to the historical right to the land of Palestine.
Zig’s Place Chat and News Friday PM 5-21-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish her
butterfly He affirmed the steadfast and principled position of the Iraqi government and people and its unlimited support for the just Palestinian cause, whose sons have been making sacrifices for generations and great material losses, to preserve their inalienable right to establish their independent state, with honorable Jerusalem as its capital, in accordance with international resolutions.
He continued, as Iraq condemns the illegal and illegal decisions issued by the Israeli occupation regarding Al-Quds Al-Sharif, and totally rejects the prejudice to the historical right to the land of Palestine.
Ambassador Bahr Al-Ulum called on the international community to stand against these settler and aggressive policies and actions that are devoted to the process of ethnic cleansing, demographic change and violation of the sanctity of places of worship and holy places, and to work to do justice to the brotherly Palestinian people who are subjected to genocide, and to restore their legitimate rights in accordance with Security Council and General Assembly resolutions For the United Nations, and for the international community to assume its legal and moral responsibilities by being held accountable for these violations, to take measures to protect civilians under occupation, to withdraw from all occupied territories, including Holy Jerusalem, to release Palestinian detainees in Israeli prisons, and to stop Israeli settlement measures aimed at judaizing the city of Jerusalem. Sharif.
butterfly Al-Abadi in a televised statement: A message signed and sealed by Mr. Sistani, changing Al-Maliki after ISIS's occupation of Iraqi lands
Friday 21, May 2021 23:31..........Former Prime Minister Haider al-Abadi affirmed: "A letter signed and stamped by the Supreme Authority, Ali al-Sistani, referred to the change of Prime Minister Nuri al-Maliki after ISIS's occupation of Iraqi lands."
He said in a televised statement: "We understood from the message of Sayyid Ali al-Sistani that change must come from within the Dawa Party."
He explained that the entry of ISIS was a tremendous shock, and there must be a change in the government, and I was nominated without my knowledge first, and I did not want to do so.
butterfly Al-Abadi: The formation of the first government was a quota system between the parties without outside interference
Friday 21, May 2021 23:36.............Former Prime Minister Haider al-Abadi affirmed that the formation of the first government was a quota system between the parties without external interference.
He said in a televised statement that the Americans were wrong to regard liberation as an occupation, and the Americans had no vision of the future of Iraq.
He clarified that the Dawa Party did not participate in the London conference for its rejection of the occupation of Iraq.
butterfly Al-Maliki congratulates the Palestinian people and their valiant resistance, the Islamic nation and the free people of the world who love peace, the great victory that was achieved at the hands of the brave resistance in Gaza.
Friday 21, May 2021 23:34..........Nouri Kamel Al-Maliki, Secretary-General of the Islamic Dawa Party, blessed the Palestinian people and their valiant resistance, the Islamic nation and the free people of the world who love peace, the great victory that was achieved by the brave resistance in Gaza, the pride and glory on the beloved land of Palestine, which has not been undermined by the surgeries and the bloodshed, With deep confidence in God Almighty and with the unwavering will of the mujahideen and revolutionaries, and by self-reliance, I continued the heroic approach of resistance and the hot confrontation path instead of wasting time and effort on imaginary projects aimed at perpetuating the reality of the occupation.
Al-Maliki added in a statement that the victory of the Islamic Resistance in Palestine had separated two phases and two dates in the path of the just Palestinian cause, as what came after it would not resemble what came before it, drawing a new map for the paths of the conflict and for the restoration of usurped rights, liberating the land and sanctities, and establishing an independent Palestinian state with its capital, Al-Quds Al-Sharif.
He explained that after May 21, 2021, the Middle East region has entered a new era, and an unusual power equation has emerged that will affect the political and security balances of all its countries.
He stressed that the courage of the resistance, its high morale, the unity of its independent decision and the cohesion of the Islamic nation with it with support and support were among the most important reasons for this apparent victory, which the armies of many countries and many wars failed to achieve.
butterfly He added that the invading Zionists must know that Palestine is not theirs and the new generation of resistance has taken over and has tasted the taste of victory, which makes their days numbered and their end close, God Almighty willing, and that the truth must return to its people sooner or later, and that the power of peoples is indomitable. And her will will not be broken.
And he said: During the past days, many illusions have been dispelled and accounts have changed, and the failure of plans and strategies has emerged, the reality of the enemy near and far has been revealed, and he has lost much of his prestige and reputation that he accumulated through deception and lies internally and externally.
Al-Maliki stressed that this apparent victory is a continuation of the victories that preceded it, as the Lebanese people and their heroic resistance, represented by Hezbollah, achieved a brilliant victory over the Zionists in 2006.
Al-Maliki called on the Arab countries to reconsider their dealings with the usurping enemy and to declare their rejection of the deal of the century and to reconsider their positions and return to their rationality and responsibilities before being overwhelmed by the flood of history and the generations and peoples cursing them for their shameful stances.
And he indicated that the world today stands before a new reality in our region imposed by the will of the resistance and its victory, which depends on the awareness of peoples and their decisions, and the aggressiveness of their Mujahideen youth.
butterfly Advisor to the Prime Minister: 50 trillion dinars outside the control of Iraqi banks........5-21-2021.........The financial advisor to the prime minister, Mazhar Muhammad Salih, revealed the existence of 50 trillion dinars outside the control of the banking system, indicating that there are reasons that impede private investment and others that have caused the emergence of a "interest-based" credit system.
Saleh said in a press statement that the parallel market is still granting its usurious cash loans to the public on very high-cost loan terms, as the annual interest in it is between 50-80%, (which is called obscene interest) and the usurious market is a parallel financial market (unorganized) ) Highly exploited with high risks, but at the same time it has high flexibility in dealing with stagnant cash liquidity by moving the interest-based tool. Important and vital that is currently trading outside the control of the legal or official banking system, "explaining that"Both scenarios, whether in the formal, organized financial or banking market, or the parallel (informal and unorganized) usurious market have made it difficult for the public to obtain credit or loans, whether at reasonable costs or conditions, especially loans that are commensurate with the average income of the general social class that needs money.
Pushing monetary policy by really going to (direct quantitative) intervention in the official credit market by adopting credit facilitation policies and supporting the market with very easy and low-cost loans, most of which were provided (within the initiative of the Central Bank of Iraq), whether in the form of housing loans through the government real estate credit apparatus (Real Estate Bank and Housing Fund) ) Or in the form of supporting economic activity with small, medium and large loans in various economic fields.
butterfly He concluded by saying, "The liquidity obtained from these bonds will help, as they are excellent debt instruments, in activating the granting of credit, especially to small borrowers, on easy terms through banks or digital financial companies and others. Small or microfinance. "
butterfly Iraqi Airways flight schedule for tomorrow, Saturday
Friday 21, May 2021 16:06.......The Ministry of Transport announced the schedule of internal and external flights for Iraqi Airways for tomorrow, Saturday, the twenty-second of May, to and from all airports in the country.
butterfly Transportation: The arrival of about (152) passengers to the homeland within the fifth evacuation flight of the national carrier coming from India
Friday 21, May 2021 20:47.......The General Company for Iraqi Airways in the Ministry of Transportation announced today, Friday, that about (152) passengers have arrived on board one of the national carrier aircraft designated for the evacuation of Iraqi citizens stranded inside Indian territory.
The general manager of the company, Captain Kifah Hassan, said in a statement: With the arrival of the fifth evacuation flight, the total number of those transported on board our air fleet from India to Iraq will be about (1,669) citizens.
Hassan stressed the great efforts made by the Iraqi government and the Ministry of Transport as they bear the gravity of the situation in order to safely return Iraqi families to the homeland.
sandyf People should be careful who they listen to. At the end of the war the allies had problems trying to agree on curency reform and various forms of occupational currency were used. In June 1948 the west discontinued the Reichsmark and introduced the Deutschmark(DEM).
As the Reichsmark was still in use in the east many speculators tried to make a killing on this now worthless currency. The Soviets had anticipated this and had marked the currency being held in the east. Although some speculators succeeded, the majority were left with a bundle of worthless currency.
I would hate to think that anyone saw this as a precedant for the Iraq situation.
sandyf About a week after the Deutschmark was introduced in the west, the Soviets followed suit with their version of the Deutschmark(DDM). It was known as the East German Mark(Ostmark) and although DEM and DDR were officially at par, because the DDM was a non convertible currency it was virtually worthless outside the eastern zone leading to black market activity.
There has never been any significant official revaluation/devaluation of the Reichsmark, Deutschmark(DEM) or the East German Mark(DDR). Of course that depends on your intepretation of significant. When I was stationed in Germany in the early 70's, the DM appreciated from 11.40/GBP to 5.60/GBP, some may call that significant.
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Zig’s Place Chat and News Friday AM 5-21-21
.Zig’s Place Chat and News Friday AM 5-21-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly 2021-05-21 04:20 Shafaq News/ The dollar hovered around recent lows on Friday and was set to notch a modest weekly drop as traders' concerns about taper talk in Federal Reserve minutes faded, though a pullback in commodity prices and nervousness about virus outbreaks kept losses in check.
The dollar has given back a bounce it made after a mention of possible future discussions on paring back stimulus, in minutes from the Fed's April meeting, prompted fears of early rate rises. Investors now figure that any action remains a long way off and that the path might again be clear for a resumption of April's downtrend as the U.S. trade and account deficits weigh.
Zig’s Place Chat and News Friday AM 5-21-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly 2021-05-21 04:20 Shafaq News/ The dollar hovered around recent lows on Friday and was set to notch a modest weekly drop as traders' concerns about taper talk in Federal Reserve minutes faded, though a pullback in commodity prices and nervousness about virus outbreaks kept losses in check.
The dollar has given back a bounce it made after a mention of possible future discussions on paring back stimulus, in minutes from the Fed's April meeting, prompted fears of early rate rises. Investors now figure that any action remains a long way off and that the path might again be clear for a resumption of April's downtrend as the U.S. trade and account deficits weigh.
A loosening of COVID-19 restrictions helped surveys of German services activity and French business activity come in better than expected in May, although they didn't appear to have a noticeable effect on the euro.
Against the single currency the dollar was parked at $1.2211, not far above the four-month low $1.2245 it hit earlier in the week and close to testing major support around $1.2345.
The dollar index was held below 90 and was last at 89.869.
butterfly The index, which measures the greenback against six major currencies, is down about 0.6% for the week so far. Against the Japanese yen the dollar held at 108.74, for a weekly loss of roughly 0.5%.
"All of the worry around talk of even talking about a taper, that was revealed in the Fed Minutes from earlier this week, is now apparently a thing of the past, with investors once again focused on the persistent underlying message that policy isn't changing anytime soon," Joel Kruger, currency strategist at LMAX, said in a morning note.
In crypto currencies, the recovery from Wednesday's crash lost some momentum. Bitcoin traded around $40,000 in Asia, which is more than 30% above the week's low point, but it struggled to hold on to early-session gains. Ether likewise found gains tough and fell back to flat at $2,786.
Both are on course for weekly losses deeper than 10%.
Lingering doubts about the Fed as well as worry about new COVID-19 outbreaks and curbs to contain them in Malaysia, Thailand, Taiwan, Vietnam and Singapore held most of the majors steady in Asia.
Pullbacks in commodity prices after measures to curb speculation in China weighed gently on the export-exposed Australian and New Zealand dollars. Each fell about 0.2%.
Sterling last traded 0.1% lower at $1.4172, although it hit the $1.42 mark once more after stronger than expected UK retail sales data.
Left behind in all the recent focus on inflation, tapering and future hikes has been the Japanese yen. It is near its weakest in three years at 133.02 per euro and is poised for a fifth consecutive weekly loss against the common currency.
Against the dollar, the yen has slid 5% for the year to date and is the worst performing G10 currency. It has fared even worse on some crosses, shedding nearly 10% on the Canadian dollar and nearly 9% on the pound.
butterfly "Overall, unless we see a meaningful shift towards more aggressive Fed tightening...and the subsequent reversal in the USD front-end rates dynamics (currently most negative in the G10 FX space), the USD rebound episodes are likely to be should be short-lived, as we have seen this week," ING said in a note to clients. Source: Reuters
butterfly Here again if all did not see this:...................................... 2021-05-20 15:13
Shafaq News / Iraq’s Parliamentary Economic and Investment Committee confirmed, on Thursday, that the exchange rate of the Iraqi Dinar against the US Dollar will remain the same until 2025.
"It was supposed that the new exchange rate will remain for one year, but the agreement of the political forces and the government breached the agreement that said the exchange rate of the dollar remains the same until 2025." the Committee member Nada Shaker Jawdat said.
“For this, the prices rose by 25%." She said “Prime Minister Mustafa Al-Kadhimi, the Minister of Finance and the Governor of the Central Bank have dared to change the exchange rate because they have a political approval," Jawdat continued.
Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.
The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.
On March 2021, the Iraqi parliament voted on the first article of the budget law, which included to adopt the dollar exchange rate of 1450 dinars per dollar.
butterfly 2021-05-21 05:41 Shafaq News / Iraq still suffer of corruption and deep political turmoil, whether at the governmental, parliamentary, or governmental levels.
A political source revealed to Shafaq News Agency that prominent political forces are seeking to disrupt holding the Parliament sessions until October when the elections will be hold.
According to the source, these parties direct their representatives to boycott the sessions, so the parliament is unable to taking decisions, the most important of which is lifting the immunity of 20 deputies due to corruption cases revealed by the Anti-Corruption Committee.
On the other hand, the leader in the Al-Fatah Alliance, Ghadanfar Al-Battikh, on Friday sent a message to the three presidencies, the Iraqi judiciary, the Public Prosecution, the Elections Commission, the Integrity Commission, the Financial Supervision Bureau and the Agencies of the Intelligence regarding the actions of some governors.
Al-Battikh demanded these authorities to "monitor the violations and abuses of some governors by using public money for electoral and political purposes."
"Some governors are exploiting their positions and the state resources for their own candidates’ benefits…this is a defect in the integrity of the electoral process and an unpleasant exploitation of power.”
Iraq still suffers from a chronic lack of job opportunities, power and water supply and other basic services four years after the war against ISIS ended.
butterfly Iraqis hoped better security would offer the respite needed to fix infrastructure. Roads, hospitals, schools and much else were hurt by years of war and neglect, including U.N. sanctions, a U.S.-led invasion and toppling of the former president Saddam Hussein in 2003, civil war and most recently the fight against ISIS.
They feel their country should be well on the road to recovery by now. But corruption and economic mismanagement have worsened conditions even further for many, leading to a new round of unrest and anger at a government that has been in power almost a year.
Politicians say Iraq needs an extended period of stability and calm for reform to take root. They argue Iraq’s internal security is held to ransom by bigger powers like the United States and Iran, which are engaged in a destabilizing regional showdown over sanctions and influence.
PeteV thanks butterfly
butterfly PeteV Not much out there but killings and the Covid. They are finding ISIS and killing them, but nothing else of importance I can see. Maybe later in the day, but nothing new from the two I posted.
PeteV many thanks butterfly
Zig butterfly :If we believe nothing will happen with the Dinar until 2025 I wonder how many of us will stick with it....I do not think I will keep this room open until then.....lol
Butterfly Zig I can only post so much but that article sure did put a damper on things.
Zig Depressing
butterfly Well the IMF gave a big hint several months back about 2024.
butterfly Steps are being taken.....baby ones, but it sure has changed from when I was posting articles way back then.
PeteV Coffee with MarkZ https://youtu.be/jTuYWa3seac
butterfly There was an article earlier that I saw and it reminded me of the transition our country is going through. I had to laugh, maybe they are listening to our country on how to do things and the troubles they will have to go through with their country.
butterfly Many years back it was said (can't remember now) keep buying the dinar because it is helping Iraq's economy.
butterfly can't remember "who" said
PeteV never heard that butterfly
Butterfly I was totally involved, checked every corner to get info and the one thing a dealer told me, still sticks with me.........DO NOT LISTEN to the stuff that is being said because when or if the dinar revalues/etc. it will be international news.
butterfly That is why seck closed his site and I stopped posting articles until Zig asked me to come and post articles.
Zig butterfly : Good advice but very difficult for most of us to do...lol
sheila Zig hope
Zig sheila : Yes, Miss Optimist....lo
Sheila Zig I wasn't always like this. Had job which required me to approach with worst case scenarios. Paid to find holes in the plans. Negative approach was required. Since retiring, decided to stay on the sunny side as much as I can.
Zig sheila : That's great....I envy your optimism....lol....seriously
Sheila Zig happy to be here. good thoughts, good words, good actions
Butterfly I remember my friend telling me about a currency he had, and at this point I can't remember which currency. He had a lot of it and said, he gave up on it and totally forgot he had a lot of it. A friend came to his home told him that it went international....NO WAY etc etc. Well when he heard that it was true, he exchanged it and make a LOT of money off of it. I wished I could remember what currency it was, but this was many years ago.
Zig There ya go....HOPE....lol
Butterfly Al-Rafidain granted loans for construction and restoration amounting to 50 million
05/21/2021 13:36..............{Economical: Al Furat News} Al-Rafidain Bank decided to grant employees and employees of the security forces stationed their salaries at the bank 50 million dinars to build on a residential plot of land or renovate residential homes.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
The bank’s media office said in a statement that the Al Furat News Agency received a copy of it, that "applying for these loans is exclusively for employees and employees of the Ministries of Interior and Defense who hold a MasterCard card."
He pointed out, "The submission is through the bank's branches, according to the geographical area."
Butterfly Learn about the exchange rate of the dollar and a number of other currencies
05/21/2021 ...........{Economic: Al Furat News} The exchange rate of the dollar against the dinar for the day was 149,000
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
The price of the dollar against the Iraqi dinar Exchange offices prices:
The sale price of the dollar is 149,000 The purchase price of the dollar is 148,000 approximate
The price of the dollar against the Iranian Toman
Baghdad 100 USD 2,220,000 Toman approximate
butterfly Global foreign currencies 100 € 122.24 dollars 100 pounds 141.74 dollars $ 100 837.48 TL
Minerals The price of an ounce of gold worldwide $ 1874.05
Oil The price of a barrel of Brent crude oil $ 64.88 The price of a barrel of US crude oil 61.88 dollars
Butterfly "The US Treasury targets cryptocurrencies to increase its "revenue"
05/21/2021..............{Economic: Al Furat News} The US Treasury Department has called for a tax on transfers of cryptocurrencies between companies, as it looks to increase revenues to finance a proposed $ 1.6 trillion plan aimed at expanding education and social insurance.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
This idea is part of a larger effort to fund a plan to support American families, including raising taxes on the wealthy, and stipulates that “companies that receive crypto assets with a fair market value of more than $ 10,000” must be declared to the “Internal Revenue Service” responsible for taxes. .
The Treasury Department clarified that accounts or payment services that use cryptocurrencies such as Bitcoin are also covered by the new reporting requirements.
butterfly The ministry said in a presentation of the proposal that “although it constitutes a relatively small portion of business income now, the importance of cryptocurrency transactions is likely to increase in the next decade, especially in light of the existence of a large-scale system for preparing financial accounts reports”.
The taxation of digital assets is part of a larger plan by the Treasury to increase the number of employees and law enforcement authorities at the IRS aimed at bridging the gap between what the government owes and what it actually receives.
The ministry estimated that the gap amounted to about $ 600 billion in 2019 and will rise to nearly $ 7 trillion over the next decade if not addressed.
The plan to support American families is one of two huge proposals by President Joe Biden. The second is the US jobs plan aimed at renewing the country's infrastructure at a cost of about $ 2 trillion.
With Democrats controlling Congress by a narrow margin, Biden is under pressure to find ways to fund both plans and get the necessary votes from Republicans to pass them.
Bitcoin, Dogecoin, Ethereum and other digital currencies have increased in popularity and value over the past year as a result of the economic turmoil caused by the Covid-19 epidemic and the promotion of these currencies by some companies.
The Federal Reserve is studying the creation of its own digital currency, and Thursday said that it will publish this summer a study discussing the impact of this on payment systems and the possibility of issuing a digital currency backed by the United States.
butterfly Trade in Baghdad and Kurdistan discuss the marketing season and the work of the joint supervisory committees
05/21/2021.........{Economic: Al Furat News} The Director General of Commercial and Financial Supervision at the Ministry of Trade, Muhammad Hanoun, met with the Deputy Minister of Trade and Industry in the Kurdistan Regional Government to discuss the creation of a joint working mechanism for supervisory work, the participation of the supervisory teams affiliated with the center and the audit of the work of the branches of companies in the region As well as checking the mechanisms of the marketing season for 2021.
A trade statement said, "The Director General of Commercial Control at the Ministry of Trade, Muhammad Hanoun, met the Deputy Minister of Trade and Industry in the Kurdistan Region, and during the meeting, joint work mechanisms were discussed as well as joint work and a coordination mechanism for the control teams at the regional government and center level.
The statement added, "The meeting discussed the possibility of solving the problems found in the branches of the ministry's companies in the Kurdistan region, following up the mechanisms of the marketing season and scrutinizing the types of wheat marketed by farmers and farmers."
Hanoun stressed, during the meeting, "the readiness of the Ministry of Commerce and the Commercial and Financial Supervision Department to provide all means of support in the supervisory bodies in Kurdistan in order to perform their tasks of follow-up, auditing and control, as well as benefit from the expertise in the control teams in the Ministry of Trade and the possibility of benefiting in return from the supervisory teams in the region." .
butterfly The Director General of the Supervision Department pointed out, "Directing the Minister of Commerce, Alaa Al-Jubouri, to provide all support and attribution to the departments of the Ministry of Trade in the region, for the purpose of carrying out their tasks as well as solving all outstanding problems and finding unified work mechanisms that contribute to improving the level of work and achievement, especially within the limits of the work of the Commercial and Financial Supervision Department." And the creation of joint audit and oversight mechanisms that contribute to developing the work of the oversight bodies in the Ministry of Trade in the Kurdistan Regional Government.
For his part, the Deputy Minister of Trade in the Kurdistan Regional Government stressed "the importance of exchanging visits between employees of departments and companies in the Ministry of Trade with the regional government, for the purpose of benefiting from experiences as well as finding joint work mechanisms that contribute to improving work and uniting efforts to confront corruption."
He pointed out, "The importance of following up the mechanisms of the marketing season," stressing that "the Kurdistan region contributes greatly to the success of the marketing season by cultivating large quantities of wheat crop."
butterfly Parliamentary Finance expects the date for resolving government appeals in the budget
05/20/2021........{Economic: Al Furat News} The Parliamentary Finance Committee expected the date for deciding on the government's appeals to the 2021 fiscal budget law before the Federal Supreme Court.
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Committee member Naji Al-Saeedi said in a press statement, "The government has challenged some items of the current year’s budget that it considers to be an" absolute executive authority, "which concerns the committee's scrutiny of budgets before sending them to the Ministry of Planning, as well as items related to degrees of deletion and creation that were originally removed from the budget. That "these appeals are decided within the next two weeks."
He added, "The government has challenged the Finance Committee's deletion of paragraphs relating to funds that it deems to be surplus to need, while the government considers it to be key articles."
He noted that "it is not possible to amend the budget law because this means the need to legislate a new law, but appealing to the budget clauses is a legitimate right of the federal government, pointing out that" the budget is valid and the appeal does not affect that, except in the event of a judicial order. "
The federal government had confirmed its intention to challenge some of the budget items and considered that the amendments made to it by Parliament affect the health, electricity and other sectors, indicating that the appeal will also affect the article related to regional development projects, and it has also stressed the need to separate the authorities in the country.
Butterfly Advisor to the Prime Minister: 50 trillion dinars outside the control of Iraqi banks
05-21-2021 10:50 AM Advisor to the Prime Minister - 50 trillion dinars outside the control of Iraqi banksThe financial advisor to the prime minister, Mazhar Muhammad Salih, revealed the existence of 50 trillion dinars outside the control of the banking system, indicating that there are reasons that impede private investment and others that have caused the emergence of a “usurious” credit system.
Saleh said in a press statement that the parallel market is still granting its usurious cash loans to the public on very high-cost loan terms, as the annual interest in it is between 50-80%, (which is called obscene interest) and the usurious market is a parallel financial market (unorganized) ) Highly exploited with high risks, but at the same time it has high flexibility in dealing with stagnant cash liquidity by moving the interest-based tool.
Important and vital that is currently trading outside the control of the legal or official banking system, “explaining that”Both scenarios, whether in the formal financial or banking market, or the parallel interest-based market (informal and unorganized) have made it difficult for the public to obtain credit or loans, whether at reasonable costs or conditions, especially loans that are commensurate with the average income of the general social class that needs money.
Pushing the monetary policy to really go to (direct quantitative) intervention in the official credit market by adopting credit facilitation policies and supporting the market with very easy and low-cost loans, most of which were provided (within the initiative of the Central Bank of Iraq), whether in the form of housing loans through the government real estate credit apparatus (the Real Estate Bank and the Housing Fund) ) Or in the form of supporting economic activity with small, medium and large loans in various economic fields.
butterfly He concluded by saying, “The liquidity obtained from these bonds will help, as they are excellent debt instruments, in activating the granting of credit, especially to small borrowers, on easy terms through banks or digital financial companies and others. Small or microfinance. ” dijlah.tv
butterfly Influential forces disrupt parliamentary sessions to prevent the lifting of the immunity of some deputies
2021-05-21 01:18 Influential forces disrupt parliamentary sessions to prevent the lifting of the immunity of some deputiesShafaq News / Influential political forces are working to suspend the parliament sessions to be held during the coming days, in order to prevent the parliament from taking a number of decisions, the most prominent of which is lifting the immunity of some MPs.
The Iraqi parliament intends to lift the immunity of 20 deputies with the start of its sessions during the next few days, in response to a request made by the Supreme Judicial Council, to “lift the immunity of the deputies due to the presence of corruption cases and suspicions against them recently revealed by the Anti-Corruption Committee.”
The Presidency of the Iraqi Council of Representatives had postponed a number of its sessions earlier, due to the work of political forces and representative figures to break the legal quorum, fearing that the parliament would vote to lift the immunity of some representatives wanted for investigation of corruption cases, by the Diwani Order 29 committee on combating corruption.
Regarding these data, an informed political source revealed, to Shafaq News, that “influential (different) political forces do not want the Iraqi parliament to hold sessions for it, and seek to disrupt the parliament until the parliamentary elections.”
The source added, “These forces will work to thwart any session, by directing their deputies to boycott the sessions, to prevent parliament from taking several decisions, the most important of which is lifting the immunity of some deputies.”
shafaq.com
Dave Only 20 deputies......set a precedent.........more to go?
Dave Clean the house before the next election.......things could start happening before 2025?
butterfly Dave I'm the bad cop.....ain't gonna happen! LOL
Dave hehe no doubt.......if this happens though......may regain hopium
butterfly We have been hearing the same thing a couple of decades now
butterfly IMF pitches $50B plan to end coronavirus pandemic
The IMF said the world could end the COVID-19 pandemic by vaccinating 40 percent of its population by the end of the year and 60 percent in 2022.........................21 May 2021
The International Monetary Fund (IMF) on Friday unveiled a $50bn proposal to end the COVID-19 pandemic by vaccinating at least 40 percent of the population in all countries by the end of 2021 and at least 60 percent by the first half of 2022.
Doing so, IMF officials say, would inject the equivalent of $9 trillion into the global economy by 2025 due to a faster resumption of economic activity, with rich countries potentially benefitting the most.
butterfly The crisis has killed more than 3.5 million people across the world, and projections point to highly unequal health prospects well into 2022, which poses “severe risks for the world”, the IMF said.
IMF Managing Director Kristalina Georgieva told a health summit hosted by the European Commission and Group of 20 (G20) major economies that it made sense for rich countries to boost donations to ensure a faster end to the pandemic.
“Advanced economies – asked to contribute most to this effort – would likely see the highest return on public investment in modern history, capturing 40 percent of the GDP [gross domestic product] gains and roughly $1 trillion in additional tax revenues,” she said in her prepared remarks.
The proposal, drafted by IMF Chief Economist Gita Gopinath and Senior Economist Ruchir Agarwal, builds on efforts already under way by the Access to COVID-19 Tools (ACT) Accelerator, the United Nations, the World Health Organization and other groups.
Implementing the plan would cost some $50bn, with $35bn to be paid for by grants from rich countries, private and multilateral donors, and the remaining $15bn to be funded by national governments using low- or no-interest financing available from multilateral development banks.
butterfly G20 countries had already recognised the need for some $22bn in grants to tackle the crisis, leaving some $13bn in additional grants needed to reach the $50bn, the IMF authors said.
The plan calls for upfront financing, vaccine donations and moves to ensure free cross-border flows of raw materials and finished vaccines, as well as some $8bn in investments to diversify and increase vaccine production capacity worldwide.
The IMF projected some one billion doses could be donated this year even if countries prioritised their own populations, and one billion additional doses should be produced by early 2022 to handle downside risks, such as new variants that require booster shots.
While the vaccine supply was still limited, it called for $30bn in spending on widespread testing, sufficient therapeutics and preparations for vaccine deployment, as well as $2bn to evaluate and implement dose-stretching strategies.
butterfly Bitcoin selloff resumes after China reiterates crackdown warning
Bitcoin fell again on Friday after China reiterated its warning that it intends to crack down on crypto mining, in what has been a tough week for crypto investors...............21 May 2021
Bitcoin resumed its selloff Friday after China reiterated a warning that it intends to crack down on cryptocurrency mining as part of an effort to control financial risks.
The largest cryptocurrency fell 4.8% to $38,165 as of 11:11 a.m. in New York. The statement late Friday after a meeting of the Financial Stability and Development Committee was the latest blow in a rough week for the cryptocurrency market, rattled by forced selling and a possible U.S. tax clampdown.
butterfly China has long expressed displeasure with the anonymity provided by Bitcoin and other crypto tokens, and warned earlier in the week that financial institutions weren’t allowed to accept it for payment. The country is home to a large concentration of the world’s crypto miners, or programmers who use massive computing power to verify transactions on the blockchain.
Friday’s selloff hit Bitcoin believers still fuming after onetime proponent Elon Musk did an about-face and criticized the token for its energy usage. Bitcoin is down about 20% since last Friday, though up from a Wednesday plunge to $30,000. Other coins have slumped too – Ether is down about 35% over the past seven sessions.
The sour stretch for digital tokens started with Musk suspending acceptance of Bitcoin payments at Tesla Inc. and trading barbs with boosters of the cryptocurrency on Twitter. China’s central bank added to the downdraft Tuesday after carrying a statement warning against using virtual currencies. On Thursday, it emerged the U.S. may require crypto transactions of $10,000 or more to be reported to tax authorities.
butterfly “Volatility of Bitcoin is to stay elevated,” said Ben Emons, managing director of global macro strategy at Medley Global Advisors in New York. Leverage that unwound in Wednesday’s tumble is already being replaced, he added in a note.
Friday’s selloff once again pushed Bitcoin below its average price over the past 200 days, which to some chartists and technical analysts suggests it could trend lower still to around $30,000, where it found support earlier this week.
butterfly Meanwhile, this week’s swings led to huge liquidations by leveraged investors and damaged the narrative that cryptocurrencies will become more stable as the sector matures. Musk’s actions showed how a few tweets can still upend the entire market.
Still, over a longer time horizon tokens like Bitcoin and Ether are sitting on big gains. Over the past year, Bitcoin is up roughly 300% and Ether about 1,100%.
Regulatory Threat
One takeaway from the past few days is a reiteration of the regulatory threat to the crypto market.
“Investors are underestimating the regulatory risk of crypto as governments defend their lucrative monopolies over currency,” said Jay Hatfield, chief executive officer of Infrastructure Capital Advisors in New York. The possible imposition of transaction reporting requirements could be the “tip of the iceberg” of potential Treasury rules on virtual currencies, he said.
The Bloomberg Galaxy Crypto Index is poised for a weekly tumble of more than 30%, the most since the market turmoil that accompanied the onset of the pandemic last year.
butterfly Despite downside risks and this week’s volatility — which saw Bitcoin slide about 31% and jump roughly the same percentage on Wednesday — crypto bulls are undaunted.
They are sticking to the narrative that Bitcoin offers a modern-day portfolio hedge and store of value, akin to digital bullion, and that blockchain-based financial services — so-called decentralized finance — are expanding.
“The institutional investors getting exposure to digital gold aren’t going away any time soon,” Paolo Ardoino, chief technology officer of crypto exchange Bitfinex, wrote in a note Thursday. “Decentralized finance will continue to grow. Developers will continue to build.”
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