Zig’s PlaceChatroom News Wednesday Afternoon

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Zig’s Place Chatroom News Wednesday Afternoon 7-13-22

Zig: Welcome to Zig’s Place, a chat room for dinar speculators and others….discuss any topic that you wish

Butterfly   The price of Brent crude was at $99.10, down from $105.0 the previous day, and the price of WTI crude was at $95.41, down from $101.7. https://nrttv.com/en/detail6/3939

butterfly   How long is Eid Holiday in Iraq?   three days

Eid al-Adha concludes the Pilgrimage to Mecca. Eid al-Adha lasts for three days and commemorates Ibrahim’s (Abraham) willingness to obey God by sacrificing his son.

butterfly   yes they are in holiday…….in case anyone was wondering

butterfly   After slashing four zeros, Iran releases new banknotes 2022-07-13 08:10

Shafaq News/ The media office of the head of the State of Law coalition, Nuri al-Maliki, distanced himself from an audio recording in which Al-Maliki attacked leaders and political forces, most notably the leader Muqtada al-Sadr.   Al-Maliki’s media office confirmed the audio recording is “fabricated.”

The Office confirmed that “what was published is synthesized voice of Al-Maliki through Deepfake technology.”

https://shafaq.com/en/Iraq-News/After-slashing-four-zeros-Iran-releases-new-banknotes

butterfly   One game for every 1.000 children.. Two-thirds of Diyala’s residents spend Eid in shrines and cemeteries ……….. 2022-07-13 03:19

Shafaq News / The majority of the people in Diyala governorate choose to spend their holidays in cemeteries and religious shrines because the region lacks conventional tourist attractions.

“The ramifications of the security situation and the conflicts of sectarian politicians have disrupted urban projects, especially tourism, from Baquba to the provincial center to all administrative units except Khanaqin, which is characterized by special nature and circumstances,” civil activist Murad al-Azzawi told Shafaq News agency.

He continued, “More than 70% of Diyala’s residents spend holidays in religious shrines and cemeteries, while the wealthy and those with above-average incomes travel to Kurdistan or neighboring countries, while the poor and low-income classes remain entrapped in shrines and cemeteries, praying for better living conditions.

“The majority of parks in Diyala are simple and primitive compared to those in other governorates,” said Maher al-Saadi, a contractor who works on simple parks, attributing this to “the dominance of political actors and implementers in tourism development projects, limiting them to projects and games that provide significant financial returns.”

“The standard of parks in Diyala is one game for every 1,000 children, according to semi-official statistics of activists and human rights organizations,” al-Saadi told Shafaq News agency, noting that, “most administrative units lack the required tourist facilities, except Baquba, which contains two parks between the two bridges and the Furusiya (equestrian) club, despite their need for further reconstruction and development with the rising population expansion.”

butterfly   “The cemetery is witnessing a lot of visitors during Eid al-Fitr and Eid al-Adhha, visiting their buried loved ones and family who fell as a result of terrorist incidents in Diyala,” said Ahmed Ihsan, a street vendor at Baquba’s largest cemetery, al-Sharif Cemetery.

“Families prioritize visiting cemeteries on the first day of Eid in Baquba and several other areas of Diyala, followed by visiting the few nearby tourist attractions, and finally visiting religious shrines,” said Ihsan.

Limiting holidays in Diyala to shrines is both happy and sad, according to Ahmed Arkan al-Rubaie, information officer for the Special Secretariat for Religious Shrines in Diyala.

“The joyful aspect is participating in worship at temples and shrines and observing the urban renewal of all the religious landmarks. On the other hand, despite Diyala’s significance as a small Iraq with a diverse population and a rich historical and cultural heritage, the sad part is the absence of entertainment venues and parks.”

He also outlined the plan for religious shrines during Eid al-Adha by extending the working staff from 8 to midnight in coordination with the centers and security services, adding that roaming religious parks ends at 8:30 p.m. in all administrative units except for religious shrines in Baquba, where families throng until midnight.

Due to power struggles, corruption, and unstable security since the overthrow of the previous regime, the tourism sector in Diyala Governorate has been steadily declining, and there are significantly fewer parks there than in Baghdad, the Kurdistan Region, and other governorates.

https://shafaq.com/en/All-News/One-game-for-every-1-000-children-Two-thirds-of-Diyala-s-residents-spend-Eid-in-shrines-and-cemeteries

Sheila   Article: ‘Our minds can be hijacked’: the tech insiders who fear a smartphone dystopia – Google, Twitter and Facebook workers who helped make technology so addictive are disconnecting themselves from the internet. Paul Lewis reports on the Silicon Valley refuseniks alarmed by a race for human attention by Paul Lewis in San Francisco — https://www.theguardian.com/technology/2017/oct/05/smartphone-addiction-silicon-valley-dystopia

sheila   THIS IS MORE CONCERNING TO ME THAN J/6 HEARINGS… WHAT ABOUT THIS SITUATION? — Tuesday, June 30, 20222 — US livestock producers now just days away from running out of animal feed due to supply chain disruptions. Rail bottlenecks in the U.S. are not improving, and in some cases, growing more severe.

Feed users in California and the Southwest are having issues sourcing grain, with some reporting they are paying $3 over the CBOT price to secure grain by truck. Not only are feed users on the brink of running out of grain, but there are also concerns the rail issues could grow worse during harvest this fall. — https://www.agweb.com/news/business/taxes-and-finance/livestock-producers-report-being-just-days-away-running-out-feed

Sah   The article butterfly posted of deleting four zeros in Iran is an interesting article to read. This is what is a lop. It talks about Zim and Lire. 2022-07-13 05:10

Shafaq News/ Iran launched a re-denominated currency on Wednesday, knocking four zeroes off banknotes but keeping their value unchanged.

The newly released notes of 1,000 and 2,000 tomans are the equivalent of a note of 10,000,000 and 20,000,000 old tomans, respectively.

Authorities say the change will make it easier to carry cash and use it for payments.

Besieged by runaway prices and food shortages, primarily as a result of the sanctions imposed by the United States, Iranian lawmakers have decided to give the Islamic republic’s currency a new lease of life – or so it seems.

In May earlier this year, the Iranian parliament has agreed to cross four zeros out from the banknotes, making it easier for people to transact without wasting time calculating the price of eggs or chicken, which can run into tens of thousands of rials.

Over the next two to five years, Iranian rials will be taken out of circulation and replaced with the toman – one toman will be equal to 10,000 rials.

High inflation, a years-long headache for Iranians, has eroded the value of the rial. It costs more than 150,000 rials to buy one US dollar in the open market while the official exchange rate is pegged at 42,000 rials to one US dollar.

Iranians have long abandoned calculating prices in rials in their everyday affairs. Instead, a customer or trader might use the rial as a currency but quote prices in tomans with one toman equal to 10 rials at the moment.

Although confusing to an outsider, the system helps locals to avoid calculations in the millions and billions.

The outbreak of the coronavirus pandemic has further discouraged the use of cash as people avoid handling banknotes.

The Iranian government had been considering replacing currency notes, something known as a redenomination, since 2016.

Sah   The replacement of the currency notes won’t have a significant impact on Iran’s inflation rate of 40 percent, which is the result of US-led economic isolation and a sharp drop in the price of oil. Iran derives most of its export revenue from oil and gas sales.

A currency’s value depends on a host of factors including the monetary policy, balance of trade and investor perception.

With the Islamic republic embroiled in regional conflicts that stretch from Yemen to Syria, and the European Union (EU) struggling to make good on its promise to circumvent US sanctions on trade, Tehran is likely to continue wading through economic troubles in the near term.

Knocking off zeros from the currency is especially cosmetic in the face of high employment and difficulties that businesses and households face in finding imported goods like medicines.

In the last few decades, a number of countries have reverted to redenomination to fight runaway inflation without any significant impact on the overall economic situation – except for a few exceptions.

Zimbabwe is a classic case of what happens when the government lops off zeroes from banknotes without addressing underlying economic issues.

In 2009, the country struck off 12 zeros from the Zimbabwean dollar after a bout of hyperinflation that hit 79 billion percent with prices doubling every 24 hours. The highest denomination note was 100 trillion Zimbabwean dollars – and that wasn’t enough to buy a loaf of bread.

Harare’s economic woes persist as the inflation rate remains higher than 670 percent.

Argentina, Brazil and Nigeria are among others who have resorted to redenomination largely in the wake of runaway inflation.

After years of struggling with high inflation, Turkey removed zeros from the lira notes in 2005 but that move followed aggressive economic and social reforms.

Sah   After facing a financial crisis in the early 2000s, Ankara liberalised the market, privatised loss-making state-run companies, and removed capital controls, making it easier for foreign investment to come in.

It fixed the banking system and improved ties with its European neighbours and brought inflation down to a 30-year low.

All of this made it easier for then prime minister, Recep Tayyip Erdogan, to strike off zeros from banknotes. shafaq.com/en/Economy/After-slashing-four-zeros-Iran-releases-new-banknotes

Sah   If you have Iranian Rial you have 2 to 5 years to turn it in.

Dave   Sah Iraq suffering with High inflation?

butterfly   Sah well I’m glad someone is reading ……. yes that is good information.

Dave   butterfly A lop????lol

Dave   CBI has managed to double their reserves in less than a yr

butterfly   Dave well ** people are reading…..sorry lol

butterfly   All I can say at this time is……..things are falling into place……..been a damn long time. Now we wait for more info to be put out there.

Sah   Usually when there is a lop it is because of high inflation over two digits. Iraq has kept inflation down and is still under two digits.

Sah   If Iraq were to lop right now it would send them into two digits. Until they get back to one digit they will not be able to float their currency and make it.

Dave  Sah doing better than most other nations

Dave   at 1/14 of a cent…….deleting 3 zeros with no change in rate would be inflationary

Dave   a nickle…….would be okay with me

Sah  Iraq is subsidizing their gas and some basic food prices to keep their inflation down. US is now at 9.1 percent but dollar is strong at 1.06 to $1.

Dave   butterfly things are falling into place……Maliki jump off a bridge?

Zig   Dave : Me too!!….a nickel and bye bye….lol

butterfly   Dave Maliki wants the pm so bad

Dave   immunity…..   postpone and dfelay

butterfly   There is a very long article that it will be to long to post here

Dave   why i b e here now

Dave   Iraq has so much more than their uber Wealthy neighbours…..and have squat

Dave    other than rich politicians

 

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