Zig’s Place Chat and News Tuesday Evening 9-5-23
butterfly The President Of The Republic Confirms His Support For Efforts To Pass The Oil And Gas Law
Earth News / President Abdul Latif Rashid on Monday reiterated his support for all efforts to pass the oil and gas law in a way that preserves the rights of all Iraqis.
His office said in a statement to Earth News that “the President of the Republic visited the building of Sulaymaniyah Governorate, where he was receiving the Governor of Sulaymaniyah, Haval Abu Bakr, to discuss the service and administrative conditions in the city.”
The President of the Republic stressed, according to the statement, “the need to make efforts to combat all forms of corruption and provide the best services to citizens, stressing his support for all efforts to approve the oil and gas law in a way that preserves the rights of all Iraqis.”
He pointed out “the importance of establishing cultural centers known as Kurdish culture and history, as well as preserving the antiquities in the province and paying attention to its museum.” https://earthiq.news/archives/275558
Dave Direct from UN…y paragraph 19, the Council decided that the Committee shall identify individuals and entities referred to in paragraph 23, by which the Council decided that funds or other financial assets or economic resources of the previous Government of Iraq or its state bodies, corporations, or agencies, locatedoutside Iraq as of the date of the resolution, or funds or other financial assets or economic resources that have been removed from Iraq, or acquired, by Saddam Hussein or other senior officials of the former Iraqi regime and their immediate family members, includingentities owned or controlled, directly orindirectly, by them or by persons acting ontheir behalf or at their direction, shall freeze, without delay, those funds or other financial assets or economic resources.
butterfly Masrour Barzani: We Will Not Sacrifice Anyone Who Wants To Return Iraq To The Era Of Dictatorship
Earth News / The Prime Minister of Kurdistan, Masrour Barzani stressed today, Monday, not to give up the rights of the region or to acquiesce in any threat.
Barzani stressed, in a statement received by Earth News, that “the people of Kurdistan will never give up their legitimate and constitutional rights, nor will they succumb to any pressure or threat from parties that want to return Iraq to the era of dictatorship and suppress, subjugate and persecute the people of Kurdistan.”
He explained that “the Kurdistan region has fulfilled all its obligations within the framework of the constitution,” expressing his concern and regret over the violation of the rights of the people of Kurdistan in an illegal manner and inconsistent with the provisions of the constitution, and the lack of respect for the agreement signed between the parties that formed the government and the ministerial platform that was approved by the Iraqi parliament by the majority. “.
Dave https://www.un.org/securitycouncil/sanctions/information page 10…. Iraq…..
butterfly The Federal Court Decides That Law 42 On Regulating Navigation Between Iraq And Kuwait Is Unconstitutional
Earth News / The Federal Court decided today, Monday, that Law 42 regulating navigation between Iraq and Kuwait is unconstitutional.
The head of the Parliamentary Rights Bloc, Saud Al-Saadi, stated, in a clarification received by Earth News, that “the Federal Court decided that Law 42 on regulating navigation between Iraq and Kuwait is unconstitutional.” https://earthiq.news/archives/275503
Dave butterfly Link not found……..Port of Faw….not werking out so well?
Dave butterfly Ever see all that smoke…Lots of Co2 contributing to this warming effect….choke choke
Dave must be my imagination
butterfly Dave It is a shame that so much is being burned down. I use to get really upset when I heard of a fire, especially in a forest. My son corrected me and said that is nature taking care of itself so there can be newer forests. Well I said, maybe so but it is still very sad that a lot of people are losing their homes and everything in them.
Dave How many acres have burned To date, 3,063 fires have burned burned approximately 20 million acres (8.2 million hectares) this wildfire season.
The 10-year average for Canadian wildfire seasons around this time is 2,452 fires burning 1.3 million acres (around 540,740 hectares), per the CIFFC. from 1.3 million acres to over 20 million acres…\
Dave losing our planet…
Sah Dave You did a good job on your homework with the UN. The sanctions from Sudan for freezing money and assets in other countries to be returned to Iraq. The Paris accord has only outstanding debt from the war left. Everything else has been paid back from Iraq. Everything before 2003 is left. That is why the Paris accord forgive over 80 percent of it and they only have about 9 billion to go for restitution to 4 countries. This was not held against them in Chapter Vll when it was cleared and the committee was dismantled. It was put in Chapter Vl.
Sah Dave So sorry that so much has burned. This is the first year in the past 5 that we can see the lake clearly as before it was just a bowl of smoke here and to stay inside every summer and hope our town did not burn to the ground. We got lucky that they put the fires out before it got to the North Shore.
Sah Here they put a small fire out and watch it for a day or two so it does not reignite. In Maui they put the fire out, watched it for a few hours and left. It reignited that afternoon and burned down the town. Bad call by fire department. They should of stayed and made sure it was out with the high winds they had.
Dave Zig Fer yrs folks have been Stating no more Ch7 on Iraq…….been posting same ole same ole…Truth/facts that painful or you prefer fiction
Chattels I suppose that I am a fourth generation unreconstructed rebel. “Winners” write the history books and pronounce the virtue of their cause, but it does not make them right. The better legal argument has always been in favor of the right of secession, IMO. Might makes for right it seems.
Chattels Had any of the southern states believed that they had no right to leave the Union at a later date there would have never been a Union to begin with.
Sah Chattels The US need all it’s states.
Sparky Chattels … most of it was Mexico …… how many states did we pick up in the mid 1800’s …
Chattels “When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.”
Sparky Chattels … thats deep …
Dave Poor Galileo
Sparky … reminds me of Lincoln …
Chattels “ We hold these truths to be self-evident, ……”
Sah Chattels Like Kurdistan trying to break away from Iraq but won’t because they do not own the mineral, oil or gas rights to them, the Iraqi people do.
Dave Sah Yeah Iraq come together after the war to Frame a Constitution
Sparky … that Benjamin rascal …
Dave did nor work out so well
Sah Even California has republicans living with democrats. Breaking away and separating is not an option. United States is for all the people.
Chattels I am a Kurdish sympathizer with respect to their right to a homeland and self determination. They have been “screwed” many times I believe.
Dave Chattels Agreed
Chattels Ask the American Indian about the benefits of immigration.
Sparky Chattels … touche …
Sah Chattels They are corrupt as ** and Barzani’s have embezzled millions from their people and the Iraqi people selling illegal oil. They want their part of the budget but do not produce the oil for Iraq for their part of the agreement.
Sparky Sah … I used to follow the Maliki / Barzani clown show of corruption, I even invested in it … lol …
Sah Dave They are free loaders. They want it all for themselves and are not willing to share with the rest of the country. They do not own the land under neath them. Iraq does.
Chattels What is and what should be are ….. all two is not one.
Chattels Oops again. Someone needs my undivided attention. Laterz all.
Dave I blame them Brits…..they carved up regions as they wished esp in the Middle east
Sparky … funny read above, the predator becoming the prey … lol … just goes to show … ” control the media, control the population ” … .
Dave Sparky No more news feeds on social media here anymore here
Dave yes News feeds no longer…..,have to subscribe directly to the news channels to get the app
Sah Dave You can catch news feeds on Utube.
Dave maybe blocked here
Sah Dave I try to post the article here so if the link does not work that you can read it.
Dave News feeds in Canada Canadians will no longer have access to news content on Facebook and Instagram, Meta says Social Sharing Facebook Twitter Email Reddit LinkedIn
Dave Our News has Rules to follow…..CRTC…..BS news Not allowed Canadian Radio and TV Commission
Sah Canada does not like that Meta and Facebook and Instagram do not pay for the news they copy so they will not deal with them in their country if they do not pay their fair share to the news organizations.
Zig Hey Kap….please answer Chattels’ question:
“NORV, is it not possible that a “lop” could be a beginning point for a gradual increase in the value of the Dinar?”
Chattels I wonder if the currency we have is replaced in a redenminarion?
Sah IMO it takes years after a lop to see any value return to their currency. IMO much better to float.
NORV Tell chattels to read my tweets lol
Sah NORV Do you have a link for your tweets?
Chattels I follow your tweets. Respectfully, none of them are dispositive of my question(s).
Chattels You do say that you believe that talk of a “Lop” is calculated to discourage speculation.
Sah Chattels Yes, I agree. If there is a lop it usually causes inflation and devalues the currency.
Zig NORV AKA @Kaperoni twitter or X as it is now called https://twitter.com/kaperoni
Sparky … any who, IQD may gain a bit, but I’m certainly sure of one thing, I won.t cash in too late …
Dave Sparky Why not gain alot?
Sparky … gain ? explain …
Dave a nickel would be fun you folks stuck 0n a lop make currency worth less
Sparky Dave … there were notes about Shabs time that resembled the current notes, only one zero shorter … … three zeros shorter …
Dave Sparky posted last week …Delete 3 zeros still on CBI’s agenda
Sparky Dave … they do that for scare tactics imo …
Dave words from CBI…. Scary …..how so?
Butterfly cbi hasn’t posted since 8/24
Dave 8/23…….its 9/23….2 weeks then oops
Butterfly ooops sorry
Dave aint I a pain!
Butterfly Dave why do you say that? You don’t like yourself?
Sparky Dave … a pain or a gain … tell us …
Dave so you tell or Sah
Dave Sparky require compression on wheelbarrows? comprehension,,,,,oops
Sparky … ok …
Dave 1 dinar worth 1/15 of a penny now delete 3 zeros…..providing fils…. floating in at the nominal rate….. imagine having to make change from a 50k note after someone buys a coke….
Dave having this lop seems counterintuitive
Sparky … I’m good with the fastest way to tune this profitable …
Dave recollect CBI mentioning INCREASING the DINAR”S PURCHASING POWER?
Dave CBI awaiting a hassle free event…….same benchmark marks we been hearing about fer 15 yrs yet not met ….rather tensions seem to be esculating Kirkuk vs Baghdad……
Sparky … Bricksa plus may be adversary ….. Saddam wanted to mess up the USD back in the day … same play … accumulate for a long time … then , dump together to have the most impact ..
Chattels “The best argument against democracy is a five-minute conversation with the average voter.” – Winston Churchill
Chattels The Founders saw the horrific consequences of letting the majority have total power, so they instituted a system that ensured that everyone’s opinion mattered.
The Electoral College ensures the interest of every state will be considered in our federal elections.
Chattels The best proof of the perils of empowering an uninformed popular vote is the election of Joe Biden.
NORV :Rapper: what up Chattels?
Chattels Good evening sir. Long time no see in a chat room.
NORV Here I am 🙂
Chattels Not since the “BGG days”. Misguided as I was.
NORV yea, we go way back
Chattels Mea Culpa.
NORV Most are misguided and want to believe But there seems to be some light at the end of the tunnel.
Chattels You have been a voice of reason in a land of wishful thinking, make believe and self serving narratives of unscrupulous people.
NORV if we dont croak before then. I been in this for 15+ years Yea, that is why I love Twitter!
NORV Bash them all the time
Chattels Hoping for some benefit to my children at my advanced age.
Chattels I have followed you there for some time now.
NORV well I am only 61. So some life left. That’s good
Chattels You may see some ROI in your lifetime maybe.
NORV The 3 year budget gives me some hope
Chattels If the world does not self destruct.
Sah Chattels No self destruct here, Have faith!
NORV CBI moving into new building in 2025
Chattels So I have read in your posts.
NORV USA may self destruct for sure
Sah NORV I am so happy about the three year budget. Too much wasted time doing it every year. They are finally implementing it now.
NORV Sah yes, but most importantly it is specifically written around the white papers
Chattels I read with interest your belief that the talk of a “lop” you believe to be calculated to discourage speculation.
NORV which should significantly help them implement the economic reforms and create some momentum for the economy
Chattels That was a poorly crafted statement by me.
Chattels I am glad of your optimism.
NORV Chattels Well, I think at one point it was a real option for them. But over time they realized that was not the process that best serves Iraq and their economy
NORV But they do often refer to it now to curb speculation.
Chattels I have wondered aloud in here about the feasibility of an appreciation in the value of the IQD following a * redenomination
NORV But be assured, delete zeros is a LOP. Which is not what we want to see. They gurus can claim otherwise (ie RV). but if they were to implement such, it would be a neutral event with minimal appreciation.
Chattels But I am a confessed macroeconomic moron.
NORV At best, if they did do such a thing, you may double your investment.
Chattels But might it be a viable beginning point for a gradual appreciation that you speak of?
NORV But they won’t so don’t worry
Chattels At times doubling does not sound too bad at my age.
NORV no, they are going to just float they dinar from the current rate, whatever that might be at the time. But they need to create economic pressure within Iraq.
Chattels What do you see as a best case scenario as to ROI over a three year period post float?
NORV privatize the economy.
Chattels Prolly way too many variables to intelligently project, eh?
NORV who knows, its up to Iraq much need to get done first still over 100 stalled economic laws nobody coming to Iraq until they get passed including a new ISX exchange law
Chattels I over invested hoping for a 10 cent valuation. Over invested I should say. Well, I did say.
NORV Well, that is possible. If you open a dinar denominated account once they begin to have economic growth, you might see it rise to .20 cents
Sah I think Iraq is headed in the right direction for economic reform and they finally seem to be getting some laws passed and implemented. For years it was going no where.
NORV That is why we have this 3 year budget. To see if they can be successful
Chattels What a “ride” this has been.
Sah Most banks exchange the currence into US when you deposit here in the US. If I send money to China it changes from US to Chinese and then if money is sent back here it goes back to US. Where can you find dual currencies held in one bank?
Chattels Thought of “stupid money” and attendant disappointment.
NORV I just feel bad for all the people taken by the constant guru BS
Chattels You still communicate with BGG?
Sah I have not seen multi denominational accounts in banks here in the US.
NORV Sah I think there may be a real possibility at some point that JP Morgan Chase will have some.
NORV because we will need a brokerage account
NORV I can tell you with pretty much certainty, nobody will be running to a bank to cash out. :$$$:
Chattels I believe that TD Bank has both US and Canadian if I comprehend why ya’ll are talking about ?
Sah W.hen I move soon I am going to use Chase for a bank where I am going.
NORV Not going to happen
NORV Chattels ??
Chattels The “spread” can be very high as I understand it.
Sah There is a form that if the foreign currency one holds is valued at over $10,000 that it has to be reported to the government. Is that true?
NORV I stated years ago, that I think the most likely scenario is that you will open a brokerage account in dinar or something similar. Then when they decide to float you will watch your dinar rise over time. increases gradually.
Chattels The cost of converting exotic foreign currencies is what I am trying to articulate.
Sah I hope so.
NORV Chattels wont be an issue since your not exchanging or cashing out chattels sum of dinar for dollars. only brokerage fees will apply.
Sah When I change Vietnamese Dong at my bank it is a $15 fee, no matter what you exchange. It just goes by the rate.
NORV no bank will be exchanging dinar for dollars
Sah It is hard right now to do as they are not international.
NORV Spend your time learning about ECM’s
Chattels Thanks for stopping by Kap. My dogs seem to want my undivided attention. Laterz all.
NORV JP Morgan may be that source see ya Chattels
Sah What is the meaning of ECM? ECM Definition Enterprise Content Management (ECM) is the strategies, methods and tools used to capture, manage, store, preserve, and deliver content and documents related to organizational processes.
Sah What does ECM stand for?
NORV ECMs are facilitators Let me look I wrote about them years ago
Sah : someone or something that facilitates something. especially : someone who helps to bring about an outcome (such as learning, productivity, or communication) by providing indirect or unobtrusive assistance, guidance, or supervision. the workshop’s facilitator kept discussion flowing smoothly.
NORV ECN is the proper term https://www.investopedia.com/terms/e/ecn-broker.asp
Sah Thank you.
NORV I believe JP Morgan will be taking this role But we cannot say for sure until the dinar floats.
Sah ECN broker. I will have to check my broker, he is with Swiss Bank.
Sah So basically it is a Forex broker.
Sah I always enjoy learning something new. I will dig in, thanks.
NORV yes, but they are also market makers for the currency
NORV I wish I could share more. but it’s best we all watch and learn together
NORV Zig what up dude? :Rapper:
NORV ECNs are pretty much specialized traders
NORV JP Morgan has pretty much announced they are doing that now with Iraq
NORV time will tell
NORV Zig you got no rap?
Sah This is one of the top banks in the world so he might be able to give me some information. I do not trade on Forex in futures at all, so I know nothing about that.
Sah Love the rap guy!
NORV One day, when conditions are right, the dinar will float and we all then can figure out how to manage the dinar we own.
NORV off to never never land Metallica :Floating:
Sah Forex Account: What It Means and How It Works
By Lucas Downey Updated July 10, 2023 Reviewed by Samantha Silberstein Fact checked by Vikki Velasquez What Is a Forex Account?
Forex accounts give investors and traders the ability to trade all major currency pairs and some emerging market pairs. It provides access to the global currency market, enabling participants to buy, sell, and speculate on various currency pairs. Forex accounts can be opened with regulated brokers or financial institutions, facilitating the trading of currencies for profit or hedging purposes. Forex accounts provide access to the foreign exchange market for trading currency pairs.
They offer features such as leverage, trading platforms, and risk management tools.
Forex accounts cater to a range of traders, including individuals, institutions, and businesses.
Participants can speculate on currency price movements, hedge currency risks, and engage in international trade.
Forex accounts may be low-cost alternatives to diversify a portfolio, though they may result in losses or regulatory complications. Understanding Forex Accounts
A forex account is opened by an individual or business with a regulated broker or financial institution. The process involves completing an application, providing identification documents, and agreeing to the terms and conditions of the account. The account holder deposits funds into the forex account, which serves as the trading capital.
Forex accounts allow trading in currency pairs, representing the exchange rate between two currencies. Traders can choose from a wide range of currency pairs depending on their trading strategies and preferences. The forex account holder gains access to a trading platform provided by the broker, which allows them to monitor currency prices, execute trades, and access market analysis tools and charts.
Sah Using the platform, traders can buy or sell currency pairs based on their predictions of price movements. Forex accounts often offer leverage, allowing traders to control larger positions with a smaller amount of capital. Account holders can place market orders to execute trades at the current market price or set limit orders to enter trades at a specific price level. https://www.investopedia.com/terms/forex/f/forex-accounts-managed-mini-demo.asp
Sah I thought that Forex accounts was interesting.
Sah Guide to Forex Trading Strategy & Education
ECN Broker: Definition, How It Works, Benefits, and Downsides By James Chen
Updated January 01, 2022 Reviewed by Thomas J. Catalano
Thomas Catalano Reviewed by Thomas J. Catalano Full Bio
Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.
Learn about our Financial Review Board
What Is an ECN Broker? An ECN broker is a financial intermediary that uses electronic communications networks (ECNs) to give clients direct access to other participants in equity and currency markets. Because an ECN broker consolidates price quotations from several market participants, it can generally offer its clients tighter bid/ask spreads than would be otherwise available to them.
An ECN broker only matches trades between other market participants; it cannot trade against the client. ECN spreads are often narrower than those used by conventional brokers, but ECN brokers still charge clients a fixed commission per transaction.
ECN brokers facilitate transactions that occur on electronic communication networks (ECNs).
These brokers help clients directly access stock or currency markets on ECNs that they would not have access to otherwise.
While they offer transparency and deep liquidity, ECN systems are more expensive as compared to traditional exchanges.
Sah Understanding ECN Brokers
The use of an ECN allows investors a way to trade outside traditional trading hours, providing a mechanism for those who either can’t be actively involved during normal market times or who prefer the flexibility offered by wider availability. It also avoids the wider spreads that are common when using a traditional broker and provides overall lower commissions and fees.
For those concerned about privacy, the ECN can provide a level of anonymity to those who desire it. This can be particularly attractive to investors interested in making larger transactions.
ECN brokers are non-dealing desk brokers, meaning that they do not pass on order flow to market makers. Instead, they match participants in a trade electronically and pass the orders to liquidity providers.
An ECN broker facilitates trades for interested investors across the ECN. Working with brokers of this nature often results in lower fees as well as additional trading time availability because of how the ECN functions.
Understanding the Electronic Communications Network
The ECN provides an electronic system for buyers and sellers to come together for the purpose of executing trades. It does this by providing access to information regarding orders being entered, and by facilitating the execution of these orders. The network is designed to match buy and sell orders currently present in the exchange. When specific order information is not available, it provides prices reflecting the highest bid and lowest ask listed on the open market.
Sah Benefits of Electronic Communications Networks
Price feed transparency is also a byproduct that many consider a benefit because of how the information is transmitted. All ECN brokers have access to the exact same feed and trade at the precise price that is provided. A certain amount of price history is also readily available, allowing for easier analysis of particular trends within the marketplace. This helps limit price manipulation, as current and past information are readily available to all, making it more difficult to act unscrupulously.
Additionally, no trader has a particular built-in advantage over the other, as they all have equal access to the information.
Disadvantages of Electronic Communications Networks
One of the biggest drawbacks to using an ECN is the price to pay for using it. Typically, the fees and commissions for using an ECN are higher as compared to non-ECN systems. Per-trade-based commissions can be costly and can affect a trader’s bottom line and profitability. From Norv’s link
Sah Happy reading!
Sheila Sah Are you saying MCA in a USA bank or other banks located here in USA?
Sheila Sah Here are links which I found interesting about MCA Bank Accounts: https://globalbanks.com/multi-currency-bank-account/ — https://www.mybanktracker.com/checking/faq/us-bank-multicurrency-account-307916
Sah sheila You are on the right track. Hard to find a bank here that does it other wise it would be opened in another country as a non-resident. The problems right now are that they can just close down the bank account. Safety and being secure is the number one thing to look for. I bank with my portfolio on an international bank that is secure and has branches in the US. As to handling foreign currencies to hold in an account, I have not asked. Right now it is send from US to another country and it transfers to that account in their currency and if I send it back it goes from their currency back into US in my bank account. I do not know if I could deposit Dinars and be able to hold it in my account as Dinars.
Sah Is it insured and for how much would be my first question and second is it insured thru the US treasury.
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