News With Links & Discussion
rocknrollbus: Listened to the XXX call. they came up with some cockeyed formula for a price on the new coins. $35 spot? price?? 22*35
Donnie: where is the following example wrong?
rocknrollbus: They said 22 grams x $35 $ spot = 770 divided by 250 dinar = $3.08
rocknrollbus: Where are they getting $35 spot?
rocknrollbus: For gold price
Donnie: 32″ TV costs $100 = 100 Dinar. Oil sells for $38 per barrel = 38 Dinar income
Donnie: good for Iraqi buying a TV but bad for Oil companies not receiving Dinar
Donnie: so it helps the iraqi people buy goods but hurts Iraq’s major commodity sales
Donnie: GOI money comes from sales of oil so it would hurt the income to the GOI
Donnie: what’s is flawed with this line of thought?
OOTW: SORRY TO INTERUPT
OOTW: WE JUST GOT THIS ARTICLE FROM NEWBIEDA
OOTW: TY NEWBIEDA
OOTW: THANKS NEWBIEDA Parliamentary Finance: a project to reconsider the price of the dollar exchange under thousand dinars History of edits:: 2016/1/8 19:13 • 219 visits readable [Image: story_img_568fde2ecafd9.jpg] [Baghdad-where]
Parliamentary Finance Committee unveiled a project to reconsider the dinar exchange rate against the dollar with the government and the central bank, denying talk about the quest to deliver to the dollar exchange rate thousand dinars. He said the decision of the Finance Committee MP Ahmad Haji Friday,
“This speech is contrary to the fact that price of the dollar against the dinar will not be up to 200 000 dinars for one hundred dollars, pointing out that there was a project studied by the Central Bank and the Council of Ministers, and the Finance Committee, to reconsider the exchange rate The dollar against the dinar.
as this will increase the exchange rate to runaway inflation, and an increase in commodity prices, stressing the need to take it into consideration and study of all aspects of the project, before making any decision. ”
And the deputy Haji that a review would be an increase of the dollar, a decline in the price of the dinar against the dollar, because the government can not raise the price of the dinar against the dollar, at the time of its imports in dollars and expenditure in dinars, pointing out that the increase in price of the dollar is what is the benefit to the government. ”
Iraq is facing a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%.
OOTW: He noted Finance Minister Hoshyar Zebari on Monday in a newspaper interview that “there are several alternatives [oil], including borrowing from international institutions, few benefits, and we did it.
” He explained that “The other option is how to raise the Iraqi dinar exchange rate, although it may be a risk of selection have repercussions.” is over
Donnie: so less of “repercussions” to raise the value of the Dinar now?
Donnie: And the deputy Haji that a review would be an increase of the dollar, a decline in the price of the dinar against the dollar, because the government can not raise the price of the dinar against the dollar, at the time of its imports in dollars and expenditure in dinars, pointing out that the increase in price of the dollar is what is the benefit to the government. ”
Donnie: “the government can not raise the price of the dinar against the dollar”
OOTW: YES THE ARTICLES ARE ALL OVER THE PLACE
OOTW: “WE’RE CONSIDERING LOWERING THE VALUE TO 2000 DINARS PER DOLLAR”
OOTW: “WE’RE CONSIDERING INCREASING THE VALUE”
OOTW: “WE’RE GOING TO RELEASE COINS”
OOTW: NO MATTER HOW YOU SLICE IT, THEY’RE GOING TO FIGURE OUT A WAY TO DRAW IN NOTES
OOTW: THAT SEEMS TO BE THE ONE CLEAR COMMONALITY OF MOST OF THESE ARTICLES
Donnie: He explained that “The other option is how to raise the Iraqi dinar exchange rate, although it may be a risk of selection have repercussions.” is over…
Donnie: looks like the idea to raise the Dinar value is over
Donnie: “”The other option is how to raise the Iraqi dinar exchange rate….” IS OVER
Donnie: but half of this could all be a translation error.
OOTW: TRUE DONNIE AND R&RBUS
rocknrollbus: Also great article about Maliki stealing billions from Iraq.
OOTW: NO I DIDN’T SORRY
OOTW: DO YOU HAVE A LINK?
rocknrollbus: Was a call last nite. There was an article yesterday? about the coins.
OOTW: AH OK YES, WE HAVE THESE IN THE FORUM
OOTW: WELL THAT’S EXCITING R&RBUS WE CAN ONLY HOPE
rocknrollbus: That’s the article, but, where are they getting the $35 spot for gold?? That was back in the Kennedy days…………
Doug_W: do U want me to post that entire comment that I put in her at 4:30 AM ?
Doug_W: it explains the math
OOTW: YES PLEASE DOUG
OOTW: AND I ALSO NEED A LINK TO THE ARTICLE RANDRBUS TO COMPARE TO WHAT WE HAVE HERE
rocknrollbus: Here? 4:30am??
chattels: good evening all
rocknrollbus: It was a CC call
Doug_W: yes I posted it here
Doug_W: Ready? Doug_W: here it comes
Doug_W: 10:12 AM] wmawhite: Folks,…..this new CBI announcement appears to be straight forward and is in keeping with what they said they would do four weeks ago. At that time the CBI stated that 70% of all of the currency that is out in Iraq was being kept by individual citizens and that they (CBI) had plans to draw that currency into the banks. Well, here it is.
However, what is more amazing is what appears to be the placing of a value upon the individual dinar based upon a world accept value of gold. If the translation is correct the CBI is stating that they are selling 15 and 25 gram coins for 100 IQD and 250 IQD. The current spot price of gold is $1,100 per ounce. 25 grams is .77 oz. .77 of $1,100 is $847. Divide $847 by the 250 IQD and you have an equal value of $3.38 per IQD
Doug_W: he said it twice
Doug_W: appears to be AND appears to be the placing
Doug_W: but MY fingers toes and even eyes are crossed lol
OOTW: HERE’S WHAT CHATTELS HAS POSTED: chattels: ” ……….. the 100 ( gram * ) coins arrived in Iraq and sold 720 thousand dinars.” chattels: Sold for 720,000 dinars, NOT 100 or 250 dinar. chattels: ” Central Bank has contracted with an international company for SEK 5,000 commemorative gold ” ???????????????????
chattels: ” an international company ” ……………………… Franklin Mint ??????????????? Smile chattels: 15 grams, a little over 1/2 an ounce of gold, at 720,000 dinars, means that one ounce of gold ( $ 1,100 ) would sell for about 1.4 million dinar. At one time we paid about $ 1,100 dollars for one million dinar.
Doug_W: yuup we discussed that early this AM
chattels: ‹@OOTW› you have been very busy today 🙂
OOTW: IN BETWEEN MULTIPLE GRANDDAUGHTER’S FEEDINGS, YES
OOTW: WELL, I’M NO MATH PERSON, SO CAN SOMEONE TELL ME THEIR TAKE ON THE FAULT BETWEEN THESE TWO OPINIONS? NO OFFENSE CHATTELS, I’M JUST TRYING TO UNDERSTAND WHAT THE LANGUAGE OF THESE ARABISH ARTICLES IS REALLY SAYING
OOTW: HERE’S WHAT THE ARTICLE SAID AND I’M NO EXPERT BUT….READ THIS FIRST AND THEN I’LL COMMENT
OOTW: The Central Bank, today called on banks to purchase gold coins gold categories  and , indicating that the 100 coins arrived in Iraq and sold 720 thousand dinars.
The Bank said in a statement received in all Iraq, “aimed at diversifying public savings and to ensure he receives 24 karat gold, the Central Bank has contracted with an international company for SEK 5,000 commemorative gold coin of class 100 dinars weighing 15 grams in the 84th anniversary of the founding of the Iraqi monetary authority of 1930”.
“It was also agreed that the 5,000 coin minted class 250 dinars weight 22 grams to mark the eighth anniversary of the founding of the Iraqi Central Bank in 1947. The Bank noted that “received the first of these coins that are weighing 15 grams and will put it up for sale through banks.”
OOTW: ” to ensure he receives 24 karat gold”
OOTW: HOW ARE THESE COINS COMPLETELY GOLD?
OOTW: THUS PROMPTING THE NEED FOR “SPOT” PRICES?
OOTW: LIKE I SAID, I’M NO EXPERT, BUT THIS SEEMS ODD TO ME
chattels: Reidar Visser @reidarvisser 8h8 hours ago Shia clergy criticism of stalling #Iraq reforms directed at “all 3 branches of govt”, but implies more criticism of PM Abadi than before.
OOTW: 24 KARAT, I DO NOT BELIEVE, WILL CONTAIN THAT MUCH GOLD PER COIN (AT ALL)
chattels: Reidar Visser @reidarvisser 12h12 hours ago In sign of impatience with Iraqi politicians Shia clergy use Friday prayers to say “no real reform” achieved in 2015
chattels: ‹@OOTW› Twenty-four karat gold is pure Au, and is seen only in bullion bars.
OOTW: AH OK THANKS OOTW: I HAVE NO CLUE OOTW: LOL
chattels: gold fill is gold plated. Franklin Mint stuff chattels: or gold clad
OOTW: Twenty-four karat gold is pure Au, and is seen only in bullion bars. Gold is an extremely soft metal which loses particles if used or handled a lot, so other metals have to be added to strengthen it before it can be made into jewelry or coins (because you don’t really want precious gold particles being lost by rubbing off on your skin and clothes).
OOTW: OK GOOD TO KNOW AND THANK YOU SO MUCH
rocknrollbus: From the article……….”aimed at diversifying public savings and to ensure he receives 24 karat gold”
OOTW: SO THEN, WHAT IS THE DIFFERENCE BETWEEN WHAT YOU ARE SAYING CHATTELS VS MR WHITE?
OOTW: WHY THE MARKED DIFFERENCE?
chattels: ‹@OOTW› Mr. White is equating 100 dinar to 15 grams of gold. He ignores the 720,000 dinar number.
MichelleL: 24k gold as in coins are actually .999
MichelleL: for what its worth – hello friends 🙂
chattels: He uses the coin denomination.
OOTW: WELL THAT’S A BIG DIFFERENCE CHATTELS
MichelleL: so he’s saying 100 dinar are worth like 600 bucks? nice to be delusional
OOTW: ‹@MichelleL› PFSSSSSSSSSSSSSS LOL
chattels: 31.1035 to be exact
OOTW: I’M GLAD I HAVE U Y’ALL LOL
MichelleL: howevva, OOTW, could be a currency amount on the coin, i.e. my gold one ounce chinese pandas are marked 50 yuan
MichelleL: actual value now around 1200-1300
chattels: ‹@MichelleL› correct
MichelleL: like a silver dollar would actually be worth more like 20 dollars right now
MichelleL: i wish I could rescue our old silver dollars, the ocean eroded them badly after the last hurricane
OOTW: BUT THE GOVT SEEMS TO BE STATING FOR PEOPLE TO PURCHASE THESE COINS AS A HEDGE AGAINST THEIR OWN CURRENCY’S POTENTIAL VOLATILITY
OOTW: OH NO SORRY
MichelleL: OOTW I imagine they want the populace to pay the gold value in current dinars to get more currency off the street?
OOTW: YES THAT I AGREE WITH AND STATED AS SUCH ABOVE
MichelleL: 750k dinars for a 100d gold coin, works for them, but in cash in value they get ripped
MichelleL: if it does rv that is, anytime soon
OOTW: LOL OOTW: AH BOY
chattels: Is 2016 the Kurdish goodbye to Iraq? wealthwatch.world/showthr…
chattels: The Kurdistan Region gained autonomy in 1991 and was officially recognized in the Iraqi constitution of 2005, with a 17% share of Iraq’s national budget, which Baghdad has withheld for nearly two years and put the region in severe financial crisis.
MichelleL: ‹@chattels› hope we get our rv before the kurds hit the road – please??? nice as a lottery win
chattels: In the summer of 2014 when ISIS took over large swathes of Iraq’s territory, Barzani asked the Kurdish parliament to set a date for an independence referendum, saying that the Kurds no longer wanted to be part of Iraq’s troubles.
chattels: Out of the Middle East turmoil and shifting borders may eventually come the fulfilment of a Kurdish dream that was shattered a century ago.
chattels: Kurdistan Barzani talks ISIS war, referendum with foreign diplomats By Rudaw rudaw.net/english/kurdist… http://rudaw.net/english/kurdistan/070120161
OOTW: ty chattels
chattels: “Holding a referendum and implementing the outcome of that referendum are two different things. A referendum to give the Kurdish people a choice is a natural right. We will discuss with the Baghdad authorities the future of our relations and settle some issues democratically through dialogue,” he explained.
chattels: Not likely initially.
chattels: But a ” greater Kurdistan ” to include parts of Syria, Turkey AND Iran is the Kurdish dream.
chattels: More likely a confereration. There are real differences politically between even northern Kurdistan and southern Kurdistan ( Erbil – Sulimanijah )
chattels: ‹@rocknrollbus› Some confederated states share a ” national currency ”
ladyfox: GE all? what currency do or will the Kurds use?
chattels: There are already ” branches ” to the CBI
OOTW: THANKS CHATTELS…I’M GOING TO EXERCISE WITH MY GRANDDAUGHTERS NOW….MY ROOMMATE DOWNSTAIRS WILL BE SO HAPPY
chattels: confederation *
chattels: ‹@OOTW› laterz
MichelleL: bye bye OOTW~ cya soon and happy weekend 🙂
chattels: Kirk H. Sowell @UticaRisk 2h2 hours ago The two most useful reflections I’ve seen on Ramadi this week: www.nytimes.com/2016/01/0… … @NYTBen talisman-gate.com/2015/12… … @ImaraWaTijara
rocknrollbus: ‹@OOTW› Thanx
ladyfox: @ chattels could this be a backdoor to exchanging our dinar? If the Kurds push it forth?
OOTW: THANKS RANDRBUS
ladyfox: @ have a good one OOTW
chattels: ‹@ladyfox› too heady a question for this poor intellect
ladyfox: @ CHATTELS 😀
OOTW: ‹@MichelleL› HAPPY WEEKEND
rocknrollbus: ‹@chattels› Speaking of Au for gold………………www.npr.org/sections/thet…
chattels: Parliamentary Legal announce the completion of most of the laws entrusted to it 2016-01-07 07:20:15 | (Voice of Iraq) – Baghdad Parliamentary Legal Committee announced the completion of most of the laws entrusted to it during the last two chapters legislatures.
The committee member said Sadiq frankincense that “the Legal Committee was able to complete most of the important laws pertaining to the Iraqi street by putting touches on the laws that have not experienced a political consensus and bring in the views.”
He continued chewing gum that “the Commission is working on the completion of the Federal Court Act, the Justice and Accountability and the prohibition of the Baath Party and the law of oil and gas, what you need from a political consensus in the House of Representatives.”
It is said that the House of Representatives, was able to pass a law Martyrs Foundation and the law of the budget and a series of important laws. www.sotaliraq.com/newsite…
chattels: ” frankincense ” is SLC / National Alliance / Shia and they typically make claims of great progress with legislation that do not have real consensus.
rocknrollbus: Was Electrodes, Watermelon, Coffee and Kareem there too?? (sorry, I get a chuckle out of their nick names)
chattels: a/k/a ” chewing gum ” 🙂
chattels: translation snafus
chattels: Regarding the Iraqi gold coins, I do see how the issuance of gold coins could reduce the paper money supply in Iraq. But why would such action be limited to a commemorative edition ?
rocknrollbus: And, why the 69th? year of the CBI?
rocknrollbus: ‹@chattels› Did you read the Lemmy article?
chattels: ‹@rocknrollbus› Lemmy article ?
http://www.npr.org/sections/thet.. Page not found
rocknrollbus: Crap….go back up to the other 1…^
chattels: ‹@rocknrollbus› ” 84th anniversary of the founding of the Iraqi monetary authority in 1930 ”
chattels: wealthwatch.world/showthr… Post # 5
rocknrollbus: oh….ok. thot I’d read 69th
chattels: ‹@rocknrollbus› Read about ” Lemmy ”
jomomma133: Hi Everyone I am so new to all of this am learning fast, for a newbie. I also enjoy listening to the show when I am not working. My question is where in the US are we able to purchase these gold coins?
Stash: Nowhere that i know of
jomomma133: I didn’t think so
jomomma133: Long ago our Banks here in the US stopped sales of gold and silver. 🙁
chattels: ‹@rocknrollbus› ” on the occasion of sixty-eighth anniversary of the founding of the Central Bank of Iraq in 1947 “. wealthwatch.world/showthr… Post # 3
ladyfox: @ jomomma133 what did they do with the rest that was not sold to citizen?
jomomma133: Everyone have an excellent weekend!! Positive energy, thoughts and prayers be with each of you
chattels: ‹@jomomma133› Presumably banks in Iraq.
jomomma133: Ladyfox I am clueless. But with everything else your guess is as good as mine
jomomma133: Yes Chattels Thank You I saw that as well. I am almost positive they will be purchased in Iraq for the time being.
Doug_W: ‹@jomomma133› bye
ladyfox: I would love one of those coins. keep sake
rocknrollbus: ‹@chattels› How’s your weather for the weekend?
chattels: ‹@rocknrollbus› 70 degrees and overcast tomorrow I think
rocknrollbus: U a Panther fan?
chattels: ‹@rocknrollbus› No sir. Redskins.
chattels: Ebadi / Jubouri stresses of the complete liberalization of Anbar, before setting off to battle Mosul wealthwatch.world/showthr…
chattels: Going on six weeks in Ramadi and still not done. Fallujah and the Anbar desert ( Syrian border ) remain for complete liberation of Anbar province.
rocknrollbus: Had read they had a network of tunnels throughout the city.
chattels: Sharqat and Hawiija ” on the road to ” Mosul.
chattels: ‹@rocknrollbus› Hiding from the drones.
chattels: Kirk H. Sowell @UticaRisk 4h4 hours ago The two most useful reflections I’ve seen on Ramadi this week: www.nytimes.com/2016/01/0… … @NYTBen talisman-gate.com/2015/12… … @ImaraWaTijara
rocknrollbus: ‹@chattels› Gotta bounce………….s’possed to take the grand-daughters for ice cream tonite. Thanx again for your knowledge!!! rocknrollbus: Go Chiefs!!!