Zig’s Place Chat and News Monday Late Night 7-17-23
Sah @NORV Good evening. Everything looks to be coming along nicely.
NORV what does that mean>
Sah The economy and the laws to be voted on in Parliament. The investment in changing salt water from ocean to be used for pumping oil instead of the water that is a shortage. Building more recovery systems for gas for electricity and becoming completely digital in there banking and bring Kurds on line. this should help for the foundation to build the economy on for Iraq..
NORV well, i will believe it when I see it. Iraq is the master of all talk. There are over 100 stalled laws. They have not passed one of them in 5 years.
NORV The idea is good, the plan is good, but it is time for them to stop talking and start doing.
NORV They have three years. We will see if they make a significant difference
Sah There are 7 that have been read and were voted on for the first round. Will see how the second reading goes.
NORV none of that means anything. Iraq likes to read them twice and then do nothing
NORV I have watched them for 16 years. rather sickening
NORV dont misunderstand me, yes, they have started to put some pieces in place. But now they need to follow through.
Sah Sudani says he wants them all passed. He gave 6 months for Oil and gas and mineral law. The Kurds wasted three months and he said we are getting it done in this session. Kurds are pumping their oil through Baghdad and they collected all money minus expensive and gave them almost a billion dinar for public salaries. Things are changing.
NORV If I have a dollar for everytime they said things or people told me things were changing, I wouldnt need dinar. lol
Sah Sudani does not barter with any political party there on constitutional laws and is making every one follow. I have never seen it progress like this as fast. The other past years it as drug on for too long with nothing done.
NORV parliament is corrupt. and anytime they bring in new, they become corrupt. So It will take a miracle to pass the laws.
NORV Do you know who put Sudani in office?
NORV He is just a Maliki pawn
Sah I agree. So glad to see that they dissolved the Kurdistan Parliament. Too long with out a new election. I hope it takes some of the corruption out.
NORV And I know a guy who met Maliki. told me many stories
Sah Sudani is not playing to Maliki. Maliki does not like it. He told him he has to stay impartial and has not been giving into him. Sudani is a different kind of player than Maliki wanted.
NORV We will see.
NORV I will have this conversation with you in 3 years and see if your right.
NORV my guess is we will still be sitting here waiting
Sah Sudani says that at least 27 billion dollars from oil sales in the past from Kurdistan is not accounted for and was never shared with the Kurdistan people. I think he has Barzani over a barrel or he will have him investigated for corruption and stealing from the Iraq people.
Sah I hope it helps put the Oil and Gas and Mineral law thru. No barter Sudani said. Everything to the constitutional law.
NORV If true, hope he does. But Iraq is a master of diversion rather than doing what they should.
NORV All I care about is them passing laws and creating a investment environment.
NORV Which never happens
NORV They keep talking about it, but nothing happens. And nobody is coming until they do.
Sah Japan has helped finance two new gas capture plants to be built. In one year Iraq said they will not need to import gas from Iran for their oil. The environment looks like it is changing. When those plants are done there will be more electricity for Iraq. They are building new plants to generate electricity from gas. I have never seen it coming alive like this.
NORV nobody is coming until the laws are passed
NORV heard it all many times
Sah Can you imagine them having enough electricity to run everything.
Sah That has got to change the economy.
NORV but I have first hand experience watching a country build an economy. I assure you, nobody is coming to Iraq until the laws are in place.
NORV very similar experience happened some 20 years ago with Russia.
Sah Bringing in salt water plants to make the water usable for pumping oil and saving their regular water for the people. They are build to plants right now to change salt water into drinking water.
NORV companies fell for it and invested and then Russia changed the rules and pulled the rug out and took over everything.
NORV So until the laws are in place, nothing with happen with Iraq.
NORV Its all talk at this point.
Sah I hope that does not happen. Japan just signed an investment contract with them and Denmark is going to build it.
NORV These deals come and go. I can name 100s of deals over the last 15 years in iraq. all fell apart when Iraq did nothing.
NORV it is who Iraq is.
Sah They said it would be done same time next year so I guess we will see if it gets done.
NORV My advice is be optimistic, but wait to see REAL results.
Sah Kurds are trying to say Kirkuk is not doing well and needs to be under their jurisdiction. Sudani said they are doing better after they left with their new government. The just want Kirkuk for more voting right in Parliament now that they can not have the oil underneath.
Sah Now Kurds have no Parliament until a new election. Every body corrupt in first batch. I hope the people vote better people in.
Sah I have hope for this country to change and make it.
NORV Iraq thinks it should just happen. That if they create the hype investment will start. But that is not how the world works. Building a new bank building is nice, but there dinar will remain weak until they stabilize the exchange rate, reduce they money supply, pass laws, create an investment environment, follow directives, etc.
NORV All of which they procrastinate.
NORV I had hope to. 16 years ago. But little has been accomplished in that time.
Sah Every body it seems wants something for nothing over there and others do not want the poor people to succeed or have more money. A very difficult environment.
NORV If they keep doing the same crap it will be another 10 years
Sah I hope not.
NORV all tribal
NORV There are tribes in Iraq that do not want change
Sah That is definitely the major problem.
NORV some use counterfeit dinar and keep that dinar circulating within the tribe so they never have to go to a bank
Sah That is sad.
NORV what I could tell you. lol
NORV The story of the real iraq is the reason very little gets done
Sah They changed the bills so that their would be less forgeries.
NORV that doesnt matter if the tribes spend dinar within
Sah I heard a lot of US currency is forgeries over there.
Sah The government has been arresting people the last few years on both currencies for forgeries. It is nice that they are stepping it up.
NORV think about take a state in the US and having their own US dollars forged but spent only with and nobody leaves that state. That is kinda like Iraq.
NORV all that did was stop those who tried to put them in the banking system. The tribes dont care and dinar they use is not in the banking system.
NORV That is why digital is the plan
NORV but it will take time
NORV 70 trillion or more in matresses
Sah Banks going all digital will help lower the corruption. Iraq banks are done and now they are working on Kurdistan. Kurds said it will be three years and CBI said last month it is being done now. Kurds said at least three years for government bills and salaries and CBI said it would all come together at same time. Barzani was not happy.
NORV that is not even the fake dinar
NORV your dreaming
NORV It will take at least another year to go digital in iraq
NORV and at least 2 years to withdrawl paper dinar
Sah CBI has just got done training people in banks In Kurdistan. It is happening now. England and France are helping.
NORV ok, time for me to go. keep the faith!
Sah From 2 million to 16 million are now banking and accounts are digital and atm’s are in the thousands now in Iraq.
Sah NORV I am keeping the faith that they do the right thing or step aside and let someone else do the right think.
Sah @NORV Have a nice evening and just stay positive.
Zig Interesting discussion last evening between Sah and NORV Scroll up!….In case you don’t know NORV is the well-known @Kaperoni Recently (June 24th) he and @Enorrste held a conference call regarding recent news about Iraq and the Dinar, etc….IMO it was very good….Recording links can be found at https://dinaralert.webs.com/conferencecalls.htm