Zig’s Place Chat and News Saturday Afternoon 5-15-21
Zig: Welcome to zig’s place, a chat room for dinar speculators and others….discuss any topic that you wish here
BobbyC Why is our country sinking? And where does our wealth evaporate?!
When you walk today in the heart of your city, it’s normal to see unstoppable streets, broken sidewalks, and struggling sewers, while the streets are tiled and paved, even in a far, Turkish village, for example..
So why are we like this?! And where does our oil riches go?!
Beginning, simple logic says, every project to continue, must generate revenue, outweigh its costs, or at least equal to it.. And because the Turkish economy is – indeed, not by gossip – (free market economy), so you find:
– The proceeds of Turkish factories cover and increase their costs,.
– And from the profits made, taxes are paid to the government.
– Then the government uses these taxes to provide public services to the people..
And that’s how the episode goes right
But in our socialist country, where the idea of government support prevails, the government intervenes to support projects, it finds that:
– There are government factories that don’t profit, but their revenues don’t even cover their costs, and that’s why the government supports them from the people’s wealth!
– And there is a government airline, its revenue does not cover its costs, so the government supports it from the people’s wealth!
– And there is a government farm that is unable to cover its expenses, so the government supports it from the people’s wealth!
– And there’s an employee who gets paid higher than what he produces! The government supports him from the people’s wealth. ·
BobbyC And there is a politician who gets a higher salary than he deserves, and he consume a portion of the people’s wealth!
– And there is a wealthy person who buys a $ 40 car, so the government supports him from the people’s wealth, and sells him a dollar under its real price!
– And there is a poor person who receives a government grant more than his salary if he worked, that’s why unemployment is preferred to work.
And the list goes on and on..
In the end, the Socialist government does not find the money to implement services, so protests and demonstrations begin, then collapse as socialist countries collapsed! Or remains a turbulent country, or governed by a dictator, while free economy states thrive!
The topic of state socialism, and the size of government, is not a luxury.
Rather, it is at the core of our attention as citizens, where we wonder daily: what is our destiny? And why are we drowning day after day, and our country is flooding?
Privatization is a drowning survival collar.
BobbyC No RV in 2021 🙂 But don’t tell Nick
Dave BobbyC who says no RV 2021?
BobbyC Their economy, or lack thereof
BobbyC Iraq has an economy, just no economic growth. Not to meantion their Banking Sector
Dave Still no private banking laws fer foreign investors?
Dave White Paper …..with associated budget…….BLANK no ink …..
BobbyC It’s not so much the banking laws themselves, it’s more the Political stranglehold on the banking sector I mean Iraq has the SWIFT and IBAN
Dave Still CH 7 sanctions…….no Global NODDA
BobbyC Now the White Papers is a doozy lol. The 1st 42 tells us why we’re still here, the last 42 tells us how they plan to get out of this mess Question is how much did Parliament take away from it in the 2021 Budget
BobbyC To my knowledge only one aspect of Ch 7 remains and that’s the debt to Kuwait which has zero bearing on taking the IQD international
BobbyC All th other Ch 7’s were moved to Ch 6
Dave BobbyC CH 7Sanctioned nations…do not have globally traded currency getting spanked….
BobbyC Ok so where does it say Iraq can not trade internationally with the IQD?
BobbyC Nope Ch 7 is a UN function IMF has Articles
Dave those other sanctioned nations do not have a globally traded currency
BobbyC The only thing holding back the IQD is that Iraq has zero way of supporting it
Dave that also…..
BobbyC Either way, we wait
Dave BUT NICK????
BobbyC Unfortunately Iraq has told us it could be years before they get their heads out of their asses
BobbyC Nicks Intel? That should be on Comedy Central
Dave status quo….immunity fer its leader ship/law makers
BobbyC yep It all comes down to how the value of a “reserve currency” is determined
Dave foreign investors too people of Iraq getting bank accounts/loans
BobbyC There ya go. Safe money in, safe money out
BobbyC For now Iraq is doing ok with the IQD as an investment tool within their borders
Dave less than 30% of Iraqis do not have bank acciunts last i heard
BobbyC And allowing for contracts from outside their borders thru their Foreign Exchange Network
BobbyC Lemme find something on the Banking System that was intersting and addresses the financial inclusion
Dave Very wealth nation not having reliable power
Dave BobbyC Fractional Indexing…….
BobbyC Most would be surprised at how far back the banking system really is. Without that avenue, safe money won’t come into Iraq unless it’s USD or EURO based
Dave Central banks take apprx 4% off the top on mortgages
BobbyC That’s where people get confused as far as the IMF Article VIII. Iraq got butt slapped for non compliance under Art VIII and it’s MCP and Foreign Exchange Restriction but it was with the USD. Some say Iraq was Art VIII because they violated it with the IQD **
Dave IMF told Iraq…MCP not good…..
BobbyC Yep and Iraq fixed it. Alaq made that announcement in 208 from Washington D.C
Dave UNSC…..currency auctiona alive and well in Iraq …still
BobbyC Both the MCP and Foreign Exchange Restriction dealt with international trades with Jordan
BobbyC Yeah without the Auctions Iraq would die a very quick death
Dave UNSC …CH 7….banking asset freeze..still in force
BobbyC If that’s the case why does Iraq utilize the SWIFT, IBAN and Buna Platform?
Dave check a few weeks ago……
BobbyC Now are some Iraqi assets are frozen but that’s a legal dispute
Dave marginally traded with some neighbours
BobbyC Yeah I get that and that’s why the Banking Sector is 20 years behind but there are no sanctions against them doing international business. Just some Banks, especially in Europe, won’t deal with em because Iraq fails to abide by the RTGS (real time gross settlements)
BobbyC Remeber they were on the Euro blacklist?
BobbyC A lot of that has to do with the Private and State banks being ran by Political Corruption. They are allowed to pay international settlements
Dave Having a globally traded currency is all i care about
BobbyC Just a lot don’t trust the Banks so they use the Currency Windows and the Street Rate
BobbyC I hear ya. They could go Global at 1460 and I’d be thrilled
Dave Wont…chunky money
BobbyC Love that term. My fear is the currency in circulation. How do they go from Trillions, to Billions (their words)
Dave purchasing power for Iraqis
Dave wanna talk about FILS…lol
BobbyC lol they would melt those FILS
Dave that makes sense…explain that to Kap
BobbyC I appreciate Kap but his 2% platform ruined it lol
BobbyC Now if ya wanna talk 2% and how it played into the Foreign Exchange Restriction butt slap, well there ya go
BobbyC 2% for 90 days and we’re home free lol
Dave BobbyC banks can only change rates 2-3% every 90 days?
BobbyC International Trade guidelines thru the IMF
BobbyC So what does Iraq trade in currency wise? The USD….hence Art VIII
Dave yeah chat about float…….never hear about free or managed floats
BobbyC The Float, whichever Float/PEG they determine is an after thought for our end game. They’d be stupid to de peg from the USD if they go International
Dave BobbyC believe their is more to it than that
BobbyC The IQD will be in a basket pegged to the USD for protection
BobbyC Years down the road when they can manage it, they will float
Dave USA BUCK …..remains world standard
BobbyC Yep and that’s their protection factor because USD is OIL and OIL is USD 🙂
BobbyC Iraq needs a weak IQD to trade, not a strong one
BobbyC Anyone who brings the Kuwait Dinar into our end game should be committed lol
Dave BobbyC 1 IQD….1/15 of a cent…..great purchasing power?
BobbyC The value of the IQD doesn’t play because of the denominations
BobbyC it has to be undervalued because of those high denoms
Dave show ME LDS…i get excited then?
BobbyC Now we’re back to how does Iraq get away from those high denoms and into lower ones? Trillions to Billions
BobbyC Ya can’t have the LD’s with the HD’s
BobbyC and there’s no way they can cover the HD’s
Dave BobbyC CBI states otherwise…..10 yrs
BobbyC No doubt they can run parallel for 10 years or whatever and here’s how they do it
Dave give me a nickle…..
BobbyC They can say Ok the HD’s will be traded for today exchange rate and you will be given LD’s in it’s place. Key there will be at todays exchange rate
Dave called delete 3 Zeros
BobbyC No way in hell could those 2 (LD/HD) run concurrently in the market. Hell we still have a 1K note but is it in the Market? Imagine vendors making change for 2 denominations of currency
Dave BobbyC CBI tells me otherwise
BobbyC The DTZ is the scary part for us but not for Iraq
Dave 1600 fils fer that Coke….?
BobbyC The MArket will adapt to the Monetary Policy
BobbyC depends on the value of the fils
BobbyC So if an Iraqi goes into a store, that store will have 2 values for a product?
Dave CBI mentioned those Fils about 1/2 yr ago……
Dave still on the agenda
BobbyC Now that same Iraqi goes to pay so which currency does he use and what kind of change does the Vendor have to account for
Dave Wheel barrows of change?\
BobbyC CBI has mentioned a lot but do we see it? Remember the study done on the IQD in a numbers of baskets and how the IQD performed?
BobbyC It will be wheelbarrows if those currencies run concurrent in the Market
Dave BobbyC CBI social political and economic stability…;.;….
BobbyC those 2 in the market make zero sense when it comes to common sense
BobbyC Yep the “suitable environment” Thats where we get the 8 keys that affect an exchange rate. 1 of em is Political Stability
Dave Iraq has yet to pass ANY law germain to our investment
BobbyC When you have a government entity, MOF, tell the CBI what the exchange rate will be, you have no CBI independence within the borders of Iraq
BobbyC Actually Iraq has one of the best Investment Laws in the ME. It’s the application of the Law that’s not working
BobbyC Single Window is key. If we recall Abadi and the NIC gave guarantees of a single window prior to the Kuwait Donor Conf. No one bought into it because they knew who ran the show in Iraq and it wasn’t the Government
BobbyC All this stuff the supposed GURU’s tell everyone has a Paul Harvey ring to it…………….”Now for the rest of the story” But that’s not sexxxxy and it doesn’t sell. Feelings over facts are prevalent in this investment
Dave BobbyC CBI my only GURU…..
BobbyC I agree and that’s why the published rate is the only truth in all this and there will be no overnight revalue
Dave when they figure they are ready they may……
BobbyC Devaluing is the norm, not revaluing lol
Dave I figure…..they figure not yet close to being ready
BobbyC I was hoping for the White Papers but Parliamnt hacked at it way too much
Dave BobbyC Covid did not help yeah addressing corruption Issues
BobbyC COVID hit Iraq hard and still is. In Texas I haven’t worn a mask in 60 days -BobbyC As Iraq stated, corruption is worse than ISIS – And ISIS is still there
Dave BobbyC get fined fer that here
BobbyC I did see that WalMart, Costco and a few others have lifted their masks mandate
Dave BobbyC Not here
BobbyC It’s funny because at times u could walk into a burger joint with a mandated mask but when u ordered and ate, no mask
BobbyC And this was prior to the Donal Trump vaccine.
BobbyC He promised by the end of the year and we got it
Dave Restaurants shut here
BobbyC I did get my 2 shots because I had to for travel
BobbyC The beach at Galveston was packed today
Dave BobbyC only 33% of us here recieved 1st shot
BobbyC Mine was easy peasy
Dave sore shoulder fer a few days for me
BobbyC Yeah on the 2nd one i was out of commission for 12 hours or so
Dave better than actually having it
BobbyC Easy peasy as far as getting it in a timely manner. Took me less than 10 mins on both shots as far as access
BobbyC Well if we listen to Comrade Fauci, nothing will work.
Dave BobbyC ?
BobbyC His no masks to up to 3 masks BS Can’t forget what he and others said at the outbreak to this
Dave BobbyC 43 masks better than nodda?
Dave 3 oops
Dave though he said 2
BobbyC Well shit just wrap me in cellophane and send me outside. I refuse the BubbleBoy syndrome
BobbyC I was more scared of the Flu than this
Dave BobbyC why USA lead the World until recently?
Dave numbers have come way down…….
BobbyC Numbers are so skewed depending on who publishes them. I saw where Texas numbers are plumenting and have been for 60 days. Well ok
BobbyC * look at Florida compared to NY
Dave BobbyC Look at Canada compared to the USA….
Dave something much different?
BobbyC Leadership? I mean whats the difference btwn NY and Florida?
BobbyC Cumho and his ineptnes Godfather style?
Dave all on the same page here generally
Dave USA taught us…….LOL what not to do
BobbyC Yeah we definitely had our heads up our respective ** depending on where u lived. That’s why I say it boiled down to leadership
Dave Alberta our Red Neck province currently setting a north American record for positivity rate
Dave having anti covid rodeos……..
BobbyC Our Redneck nation is thriving because we’re usually not some dumbass Liberal
BobbyC Liberals have to be the dumbest idiots around besides a rock
Dave \ BobbyC i resemble that remark
BobbyC lol well you must be the exception to the rule. You could seek help for it. I hear Pfzier may come out with something. I hear it could take up to 5 shots to cure you
BobbyC I need some BBQ. Take care and thanks for the convo. You bring in some great points
Dave BobbyC just wanna be able to travel again………place, zig's /