Zig’s Place Chat and News Monday 3-8-21
Zig: Welcome to zig’s place, a chat room for dinar speculators and others….discuss any topic that you wish here
butterfly Dollar exchange rates in Iraq 2021-03-08 03:12 Shafaq News / The dollar exchange rates jumped in the Iraqi market today, Monday (March 8, 2021). • The Kifah Stock Exchange recorded 145,400 dinars, for $ 100. • The Al-Harthiya Stock Exchange recorded 145,350 dinars for 100 dollars.
In Baghdad Selling prices in the banking stores in the local markets
- Sale price: 146,000 dinars for $ 100 • Purchase price: 145,000 dinars for $ 100
In Erbil Selling prices in the banking stores in the local markets
- Sale price: 145,600 dinars for $ 100 • Purchase price: 145,300 dinars for $ 100
Zig Jeff AKA “Dinar Investor” mentions me twice in this video….Wow I am going to be famous!!..:Happier: LOL… Anyway here it is: “Too Much Dinar In Circulation?” https://www.youtube.com/watch?v=MlEzU2u-dyQ
UNEEK A “mouse” was put at the top of a jar filled with grains.
He was so happy to find so much food around him that no longer he felt the need to run around searching for food and now he could happily live his life.
After a few days of enjoying the grains, he reached the bottom of the jar.
Now he was trapped and he couldn’t get out of it.
He now has to solely depend upon someone to put grains in the same jar for him to survive.
He also may not get the grain of his choice and he cannot choose either.
Here are a few lessons to learn from this:
1) Short term pleasures can lead to long-term traps (living on benefits/furlough/spoilt by parents perhaps?).
2) If things are coming easy and you are getting comfortable, you are getting trapped into dependency.
3) When you are not using your skills, you will lose more than your skills. You lose your CHOICES and FREEDOM.
4) Freedom does not come easy but can be lost very quickly.
NOTHING comes easily in life and if it comes easily, maybe it is not worth it.
butterfly Turkish lira on two-week slide that tests central bank’s will
butterfly 2021-03-08 06:06 Shafaq News/ Turkey’s lira was down 0.7% on Monday and has fallen in 10 of the last 11 sessions as domestic inflation, global bond yields and oil prices have all risen, setting up a test of the central bank’s tight policy pledge.
After raising rates to 17% in December, central bank Governor Naci Agbal said on Friday, “We are going to take firm steps” to stabilize double-digit inflation. He added “a paradigm shift” happened in November when he took the bank’s reins.
But while the lira had rallied some 20% since early November, it has given back half those gains in the past two weeks. By 0907 GMT, it was at 7.575 versus the dollar, near its lowest so far this year.
For import-reliant Turkey, which produces virtually none of its energy needs, the sliding lira raises import prices. U.S. crude oil rose to its highest price in more than two years Monday after reports of attacks on Saudi facilities.
Yields on the 10-year U.S. Treasury were at year’s highs, which pulls funds out of riskier emerging markets like Turkey, whose assets are particularly volatile.
“The rise in long-term borrowing rates and oil prices led investors to worry about inflation globally” and the recent lira slide has “kept interest towards local assets under pressure,” Is Invest said in a note.
Analysts increasingly expect the central bank to raise rates next week to stabilize the currency and address inflation, which rose above 15% last month.
Turkey has the highest policy rate of any advanced or developing country, and rate cuts were expected later in the year. Agbal’s comments on Friday, in a blog post, were taken by some as a sign the bank will first tighten more.
It “was interpreted by the market as promising another rate hike soon, in order to establish even more credibility. We, too, think that another 100bps rate hike has become more likely at this month’s meeting,” said Tatha Ghose at Commerzbank.
butterfly ISX yields 1.22% gains and delists 19 companies
https://shafaq.com/en/Economy/ISX-yields-1-22-gains-and-delists-19-companies 8 Mar 21, 09:28 AMbutterfly
2021-03-08 05:41 Shafaq News/ Trading volume in Iraq’s stock market surpassed 1.3billion equities valued at 680million dinars in its first sessions this week.
A report of the market obtained by Shafaq News agency said, “29 publicly traded companies cast out today of 103 enlisted companies. The equities of 16 companies earned gains, while four companies’ equities dropped,” indicating, “19 companies were delisted by the Iraqi Securities Commission for violating the disclosure regulations.”
1,329,225 equities were traded today at a value of 687,900,000 dinars from 441 deals. ISX60 index ended up at 565.73, yielding 1.22 % from the last session’s close,” the report added.
Cartoon industry and trade company, followed by Metal and Bikes company, were the top boosts to the index, notching an 10% and 8.9% gain, respectively. In comparison, Agricultural products company and Elaf bank benchmarks index slid as much as -4.11% and -2.17%, respectively.
It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009 and currently bolstering efforts to deploy online transaction services. It organizes five weekly sessions and lists 103 public companies from different economic sectors.
butterfly Foreign currency exchange drops, Iraq’ central bank said
butterfly 2021-03-08 03:55 Shafaq News / the Central Bank of Iraq on Monday, announced decrease in the foreign currency exchange for the fourth day in a row.
Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 58.18% decrease to 45,655,000 dollars which the bank covered at an exchange rate of 1460 dinars per dollar. He added that the sales operations were in the form of wire transfer and credits.
Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.
The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.
butterfly PRECIOUS-Gold recovers from 9-month low on U.S. stimulus cheer
butterfly 2021-03-08 03:38 Gold rebounded on Monday from a nine-month low hit last week, as bond yields retreated and the passage of a massive U.S. stimulus package boosted bullion’s appeal as a hedge against inflation.
Spot gold rose 0.4% to $1,707.81 per ounce by 0523 GMT, after hitting its lowest since June 8 at $1,686.40 on Friday. U.S. gold futures climbed 0.4% to $1,704.90.
“The market probably sold a bit too much last week on higher yields and yields seem to be plateauing a little bit right now,” said Stephen Innes, chief global market strategist at financial services firm Axi.
The yield on 10-year Treasury notes held below an over one-year peak hit on Friday, reducing the opportunity cost of holding the non-interest paying gold. [US/]
The passing of the $1.9 trillion COVID-19 relief plan by the U.S. Senate on Saturday also provided support.
“Inflation is definitely going to go up” because of rising oil and base metal prices, said DailyFX strategist Margaret Yang.
Yang added that some of the individual U.S. stimulus money may also go into investments such as gold exchange-traded funds to hedge against future inflation.
An attack at the heart of Saudi Arabia’s oil industry on Sunday with drones and missiles from Yemen’s Houthi forces is also boosting gold’s safe-haven allure, analysts said.
Bullion is considered a safe asset during times of financial and geopolitical uncertainty.
The dollar hovered close to a three-month peak hit on Friday, making gold expensive for other currency holders.
Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell to a 10-month low on Friday.
Silver rose 1.8% to $25.63 an ounce. Palladium climbed 0.6% to $2,353.18. Platinum gained 0.7% to $1,137.57.
butterfly Women Lead the Way in Iraq On the occasion of International Women’s Day, the United Nations Development Programme (UNDP) has published a series of articles on the theme of women in Iraq:
butterfly Pope urges Iraqis ‘not to give up’ as historic pilgrimage ends
Pope Francis spent the final day of his historic trip to Iraq visiting areas in which the country’s Christian minority has traditionally had a sizeable presence and the capital of the Kurdish region, to which many have fled amid improved but still fragile security.
butterfly Key oil price surges above $70 after attack on Saudi facilities
Brent crude futures rose above $70 first time since COVID pandemic began while US crude was its highest in two years.
butterfly Al-Kadhimi calls for a “Radical Agreement” with the Kurdistan Region
butterfly 2021-03-08 04:34 Shafaq News/ The Iraqi Prime Minister, Mustafa Al-Kadhimi, called on Monday for a radical agreement that puts disputes with Kurdistan Region to an end.
Al-Kadhimi said in a statement, “I call for a genuine national dialogue to reach a final agreement to the relation between the Central government and Kurdistan Region that maintains the unity of the lands and radically settles the differences.”
As Iraq seeks to manage its worst fiscal crisis in almost three decades, tensions between the federal government and the Kurdistan Regional Government (KRG) are once again on the rise. Not for the first time, the dispute is over Baghdad’s conditions for the transfer of budget funds to the KRG in Erbil.
At its heart, the battle is constitutional. Ever since Saddam Hussein’s regime was ousted in 2003, there has been disagreement over how political power should be shared. On finances, hydrocarbons, defense, and an array of other issues, the two governments have not reached an agreement on the margins of competent authority.
The former Prime Minister Adel Abdul Mahdi’s Iraqi caretaker government ordered cut federal budget contributions to the Kurdistan Regional Government, pushing the KRG toward bankruptcy and cutting off the payment of salaries to its civil servants.
Abdul Mahdi’s government said the step was taken due to the international oil decline that has hit Iraq hard as well as Erbil’s failure to submit 250,000 barrels of oil per day to Iraq’s State Organization for Marketing of Oil (SOMO) in return for public funding under Iraq’s 2019 budget law.
butterfly A crucial meeting in the Parliament ahead of the voting session on the Federal Court bill
butterfly 2021-03-08 09:31 Shafaq News/ A parliamentary source said on Monday that a meeting was held in the Council of Representatives to resolve disputes over the Federal Supreme Court law.
The source told Shafaq News that the Presidency of Parliament and heads of political blocs convened ahead of the parliamentary session today to reach a final agreement regarding the provisions of the tabled Federal Court law.
The Iraqi parliament already voted on 18 articles of the federal court law last week and tabled the voting on the remaining six articles to the next session.
The Federal Court is the highest judicial authority in Iraq, and its quorum is mandatory upon issuing any decision. The court mainly deals with settling disputes between the federal government and the regions and governorates, as well as interpreting the provisions of disputed laws.
butterfly Pope Says Next Trip Will be to ‘Suffering’ Lebanon
http://www.naharnet.com/stories/en/280007-pope-says-next-trip-will-be-to-suffering-lebanon 31 minutes ago
butterfly Pope Francis has promised that his next foreign trip will be to crisis-hit Lebanon, shortly after he wrapped up a historic visit to Iraq.
“Lebanon is a message… Lebanon is suffering,” the pontiff added in an in-flight press conference, vowing to visit the country as soon as possible.
“Lebanon has some weakness resulting from diversity… but it has the strength of the people… who are as strong as the cedars,” the pope went on to say.
He added that Maronite Patriarch Beshara al-Rahi had asked him to add a Beirut leg onto his Iraq trip but that he had declined, thinking it would be like tossing the country “crumbs,” given all Lebanon’s current problems.
“But I wrote him a letter and promised I’d go to Lebanon. Today Lebanon is in a crisis, an existential crisis, and my next trip will be to Lebanon,” the pope went on to say.
Sheila Summary from DinarGuru.com: 3-8-2021 Newshound Guru Jeff Article: “Representative economic: The conditions are ready to adjust the exchange rate and the oil barrel in the budget” This is a great article…Iraq hasn’t revealed the true price of oil to you nor have they shown you the true dinar amount contained in that budget…They’re hiding those numbers and figures from you so you cannot see that this budget is linked to the rate change…we’re in a great position. This ride’s over in about two Sundays IMO…
Dave ….11 YRS….budget linked to the change….,..2 weeks …about time!
Dave Federal Court Laws……6 amendments to go………passage of the HCL/140….? Guessing not Kurds still holding out on the current budget….?
Dave 2 weeks…we all be rich except those Kurds whom will get squat from all that oil from the disputed territories……….
Sheila one man’s opinion. as good as anyone else at this point. besides, it’s March… same month as Kuwait rate changed.
Dave Like CBIs opinion…economic political and social stability..,.,.,
Dave Suppose Jeff wants it more right now,…. more than CBI……
Zig “International Readiness”….a video by Jeff (Dinar Investor)….3/8 https://www.youtube.com/watch?v=z47qozvxMmU
Zig :Thankyou: Dinar Recaps https://dinarrecaps.com/our-blog
Professor Dinard I feel dumb for not buying oil before biden got elected:'(
Professor Dinard Speaking of oil. Does u.s. going green mean bad things for middle east economies?
Spectra Dr. Sherri Tenpenny says this Covid vaccine is a well-designed killing tool. She says the vaccine kills type 2 macrophages in the body that usually act like firemen. She claims the jab can make antibodies that attack more than 25 organs in the body.
A doctor in France says the vaccine has killed 40 times more old people than the virus itself, 260 times more young people than the virus would have.
Dr. Scott Jensen says lockdowns and fear-mongering are killing people. On ‘Corona Crazy,’ they’re giving apes the vaccine, and JP Sears rocks on ‘Commie Crackdown.’
Dave This Public Health advisory brought to you bt Spectra
Spectra Freedom of information
butterfly Iraqi parliament fails to pass the Federal Supreme Court bill
https://shafaq.com/en/Iraq-News/Iraqi-parliament-fails-to-pass-the-Federal-Supreme-Court-bill butterfly 2021-03-08 14:08 Shafaq News/ The Iraqi lawmakers failed today Monday to resolve the impasse of the Federal Supreme Court law.
A source in the Parliament told Shafaq News Agency, “the Parliament did not officially postpone the vote on the Federal Supreme Court law bill but failed to maintain the quorum (two-thirds) required to complete the voting.”
“Some MPs withdrew from the session to prevent passing the remaining provisions of the bill for the political disagreements revolving around them,” the source added.
Another source told Shafaq News Agency, “the Parliament Speaker, heads of political blocs, and the legal committee agreed on tabling the remaining provisions (2,3,12) to the next session.”
The Parliament voted on passing three provisions (8,10,12) today, Monday, before adjourning the session with three remaining provisions on the table.
butterfly Al-Halbousi directs to include the budget bill on the Parliament’s agenda for the next session
butterfly 2021-03-08 13:33 Shafaq News / The Speaker of the Iraqi Council of Representatives, Muhammad al-Halbousi, directed to include the federal budget bill on the Parliament’s agenda for the next session.
Shafaq News Agency correspondent reported that Al-Halbousi had directed the inclusion of the budget bill on the agenda for next Monday’s session, upon a request submitted by MP Yousef Al-Kalabi and signed by 150 Representatives.