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Wednesday, November 28, 2018

IQD CHAT, 28 NOV

chattels   Interesting observation from DP, to wit :

chattels   11-27-2018 *** Dinar Guru News Update *** After a fourteen day delay, the CBI reported the market rate for the Iraqi Dinar from November 14th to the 27th...something is different. Starting on the 14th they began reporting the Dollar Exchange Rate / in IRAQ Markets.

Previously the market rate was reported in the Baghdad Markets. You'll also notice the Official Market Rate listed in the left column of this page now contains 3 decimal places...the previously reported rate did not contain decimal places. Today's 1194.446 reported market rate is the strongest the market rate has been in nearly 2 years.

   https://cbi.iq/news/view/237

chattels     What does it mean, if anything for us, I do not know, but, I think that any such changes are remarkable and worthy of mention and consideration.
​...
​Baxter    In this July 29, 2018 image a man checks wiring to homes on Saadoun Street in the Iraqi capital Baghdad. Photo: Sabah Arar | AFP

BAGHDAD, Iraq — Iraq's broken electricity sector is planning a long-awaited overhaul to both meet US pressure to halt Iranian power imports and head off summertime protests

Baxter   THAT was just five months ago folks

Clay   wow
Clay   slow eh

Baxter   Have they really come that far? I dont think so

Clay   me neither

Zig   Wiring done by "dinard"

Clay   lol

Baxter   Im glad we are all in for the long Haul.... cause its gonna be

Spectra   https://twitter.com/IraqiGovt/status/1067775827956432898--- Government of Iraq - الحكومة العراقية

@IraqiGovt PM @AdilAbdAlMahdi holds his weekly press conference in Baghdad. Watch the highlights here:

Spectra   They are still doing their vetting!
Spectra   Soon they will establish the fully formed GOVERNMENT!

chattels   Reidar Visser @reidarvisser 14 hours ago

#Iraq: Vote on completion of cabinet of PM Abd al-Mahdi has been postponed again, maybe for a week. In addition to Sadrist opposition to Faleh al-Fayadh at interior, Kurds are reportedly in disagreement about minister of justice candidate

chattels   The construction coalition reveals the reasons for the incomplete completion of the resolution of the vacant ministries By Rudao Yesterday at 10:38

chattels   http://www.rudaw.net/arabic/middleeast/iraq/271120182

chattels   Roudao – Erbil   The MP for the construction coalition, Abdul-Amir Taiban, on Tuesday, that the ongoing differences between the political blocs and the lack of agreement on the names of ministerial positions behind the lack of completion of the cabin Abdul Mahdi.

JoeSchmoe   'incomplete completion'....is that the same as sort of definitely?

chattels   said Taiban, "The dispute revolves around the ministries of defense and interior and justice for the failure of the political blocs on the names agreed."

Noting that "8 names are on the job of Minister of Defense while continuing disputes over the only candidate for the post of Minister of Interior Faleh al-Fayadh, while there is a conflict between the Kurdish parties to the post of Minister of Justice."

Taiban pointed out that the next parliamentary session scheduled next week will be decisive on resolving the vacant ministries in the government of Abdul Mahdi.

chattels   JoeSchmoe translation vagaries

Spectra   Kurdistan 24 English.@PM Barzani met @USAmbIraq in Erbil on Tuesday, reiterated support for the new Iraqi government to resolve Erbil-Baghdad issues. Both sides discussed new @Kurdistan government formation talks.

Spectra   Voice of Europe  BREAKING: Italy will not sign UN Migration Pact – Interior Minister Salvini
Spectra   :Thumbs-up Congradulations too the italian people!

Spectra   SOUTHERN EUROPE -  BREAKING: Italy will not sign UN Migration Pact – Interior Minister Salvini
Spectra   yeh' i like this they are standing their ground

Doug_W   Baxter did U see this on FB? Parliamentary movement to legislate a law abolishing the Strategic Framework Agreement

Baxter   no i didnt

Doug_W   K just posted it a few mins ago

Baxter   Doug.... I hope that is not true......

Doug_W   well U saw my reply

Baxter   yep....

Doug_W   that is a crazy place

Baxter   our investment is sinking ... fast

Doug_W   time ONLY will tell

Spectra   ktfa post-SAMSON said (Post #149)

***************************
Of the shareholders of the Iraqi seed distributing profits of 500 fils per share
Iraqi shareholders distribute 500 fils per share 28th November, 2018

The Iraqi Seed Production Company (AISP), listed on the Iraq Stock Exchange, agreed to distribute cash dividends of 500 fils per share

The company explained in a statement to the stock exchange, that the distribution represents 50% of the company's paid capital

The company's current capital is 10.5 billion dinars, distributed over 10.5 billion shares, with nominal nominal value of one dinar per share     500 FILS per share? FILS? WOW!

Spectra   fills!???
Spectra   I CERTAINLY HOPE WE SEE FILS! -----------SOON
Spectra    WAKE UP CALL!
Spectra;   eye roll; ;read; ;:));

Larrykn   hi all, found this on youtube interesting : https://www.youtube.com/watch?v=PeyK7L80MEM       Iraqi Dinar News | Sean Hannity Radio Clip about Dinar

 Woke AF 
http://mercury.postlight.com/amp?url=https%3A%2F%2Fwww.ae911truth.org%2Fnews%2F503-u-s-attorney-takes-first-step-toward-prosecuting-explosive-destruction-of-world-trade-center-on-9-11&__twitter_impression=true

Woke AF   See, I'm not a conspiracy theorist! I'm just woke! I feel so Vindicated right now just want to hug myself! LOL

Baxter    The future of the Iraqi currency !!

2018-11-28   The future of the Iraqi currency  Diaa Mohsen

Money, a source and document representing the state, is a symbol and expresses its political and religious system and its own philosophy. In comparison to date writing, documentation across currencies can not be questioned or challenged as a concrete fact and document for a certain period of time. Humanity has greatly benefited from the history of civilizations through the study of its currencies and their holdings

The discovery of currency is compared to the discovery of printing, as it facilitates the process of exchange between people and traders alike, and the currency is one of the main components of the market; without it, there can be no buying and selling

Before the entry of the British occupation forces in October 1914 was the currency among the people is the Ottoman lira, after which the British occupation authorities introduced the Indian rupee as the currency of circulation, and after independence was established the first council to issue the Iraqi currency in 1931, was linked to the Iraqi dinar in pounds sterling, The July 14, 1958 Revolution The dinar was pegged to the pound and pegged to the US dollar

The Central Bank of Iraq issued a new currency of paper and metal, bearing the slogan of the new Republic. New issues of paper currency were issued in 1971, 1973, and 1978. The Iraqi dinar suffered a continuous deterioration in its value after the Iran-Iraq war began, dropping from $ 3.3 per dinar in 1980 to about $ 4 in 1988

 As a result of the invasion of Kuwait and the issuance of resolutions of the Security Council to impose a blockade on him, and the deterioration of the value of the Iraqi dinar, forced the Central Bank of Iraq to issue currencies that were not traded before, issued banknotes of 50 and 100 dinars, followed in 1995 issued a paper of 250 dinars, 
The year 2000 issued a cash paper bearing the category of 10,000 dinars, and it is noted that all these categories were carrying the image of former President Saddam Hussein. The citizen carried large packages to buy his simple needs, which do not exceed eating and drinking

After the fall of the former regime, specialists began to think about how to restore the spirit of the Iraqi dinar, and remove the heavy legacy of the Iraqi economy, they began to put the idea of ​​removing three zeros from the current currency

The deletion of zero is defined as a process by which the nominal value of the currency is adjusted due to high inflation and devaluation. Countries such as Brazil, Argentina (South America), Yugoslavia and Poland (countries in the orbit of the Soviet Union) Ireland (for joining the European Monetary Unit), a process different from the devaluation process,

But can such action be implemented? What are the pros and cons of the economic movement in Iraq? Could it really help to reduce inflation rates? Finally, what is the right timing for it?

This process is still controversial in the government and monetary circles, businessmen and specialists. Some believe that doing such a process will lead to more corruption and tampering with public money,

because of what is happening in the process of currency change, and it will create a state of chaos and confusion in contracts internally and externally, And that it will not change anything from the fact that the amount of the issued paper will remain the same

Baxter   At a time when an optimistic team believes that this process will lead to the restoration of prestige of the Iraqi dinar, if accompanied by the improvement of the dinar exchange rate, and the process of calculations in various fields will be less complex and simply

We do not deny that the process of deleting zeros is a necessary and important step comes within the need for the country to the process of administrative reform of the currency contribute to reduce transaction costs and cash transactions in the economic process,

and reduce the size of the country’s monetary mass and help to facilitate calculations and reduce the amplification of numbers, if applied Properly and at the right times. But there must be introductions to that process, including choosing the appropriate time in which the Iraqi economy in a state of stability,

and then create the economic environment in a deliberate manner to implement the deletion, and this requires the procedures and financial and banking decisions taken by the financial authority in the country.

The process of replacing those “in the process” will cost the state budget of 172 billion dinars (150 million dollars), which is a large amount is significant, if we add the effort of the banking staff and the time that will be lost by the process of switching, and can not Forget the attempt of the weak souls who will try to profit from that process by all means and methods!

Baxter   It is true that this process will not have an impact on the purchasing power of the citizen, since the exchange of currency will take place in another currency.

There may be some shock in the market as a result of this switch, but it is a temporary shock. It is not bad to see the experiences of many countries replaced the currency, such as Turkey, which continued its currency exchange for four years, the Turks remained trading the old currency with the new currency until they were all withdrawn from the market without the market confused ​
​The most important negatives that will accompany the process of deletion of zeros is the cash illusion, as the deletion of three zeros from the Iraqi currency will sign the citizen under the illusion of cash, which is the most prominent negative that can affect the Iraqi citizen in the event of deletion of three zeroes of the current currency is a significant effect,

This will be the result of colliding with the value of the new currency after the deletion, leading him to believe that the value of its assets has decreased by dividing them on the three zeros.

The Iraqi citizen would like to see his currency strong, so the process of raising zeros will contribute to the revaluation of the currency, and reduce the proportion of demand for hard currency, which is characterized by force, and will lead to a balance between the value of domestic and foreign currency and will give them market power at home and abroad,

It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000

Baxter   There.. thats it.. I thought it was quite good

Doug_W   thanks

Baxter   It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000

Baxter   THIS PART... THE LAST PARAGRAPH
Baxter    IF THE STRENGHENING OF THE DINAR EQUIVALENT TO 500 DINARS TO THE US DOLLAR.. PURCHASING POWER OF 2400 INSTEAD OF 1000
Baxter    I would like chattels to read this..

Dave   Baxter there goes your dime.......50 cents pieces now?

Baxter    Yep Dave... for sure

Dave    All Hail Guru Bax!!!!!

Foxmulder   Baxter hey there where did ya get that article ?? lotta reading LOL what do ya think ?

Doug_W    foxmulder it has been sent to "Chattels" 4 analysis

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