Chat Room – News, Excerpts & Highlights
holly: Rashid Hamid 6 hrs · … $ 35 billion for election campaigning up to $ 35 billion worth of UNHCR law to spend in the election campaign for 2018 for all candidates in Iraq. The candidate is allowed to spend 250 dinars per voter and the number of voters more than 23 million voters and the number of candidates more than 7000 candidates. Hamoud al-Zaidi beat The number is terrifying if it is actually in dollars
blackgold: wonder if thats 35 billion dollars or dinar
sandyf: @Spectra: sandyf: @Spectra: ……ive made nothing up….this is all i know of because i was smart – Not going to stoop to your level, stranger to the truth would cover it.
sandyf: [Frank]:”The Turkmenistan article is your blueprint. CBI is following it to the letter. To the “T.” The only difference is where Turkmenistan revalued Iraq is reinstating. . . . They could reinstate at 1:1 and then revalue later through a controlled managed float.
The “article” that he is referring to was published by the IMF and can be seen here.
New Money Introducing A New Currency Is A Complex Process
sandyf: This flies in the face of what has been previously said, unless of course like many, never bothered to read past the first few lines of failed to understand what was printed.
On the 1st Jan 2009 Turkmenistan redenominated the currency by a factor of 5000 to 1 and changed the currency code from TMM to TMT, from the article. “In Turkmenistan, the government decided to keep the name “manat” for the redenominated currency.
However, in line with an international convention among countries and central banks, the International Standards Organization changed the three-digit ISO 4217 code from TMM for the pre-2007 manat to TMT for the new Turkmen manat.” Despite what some seem to think, the central banks can only amend an existing currency, it is a government decision to change the currency.
Doug_W: @sandyf are U in Asia?
sandyf: @Doug_W Yes , Thailand
Doug_W: @sandyf thanks
sandyf: Looks like they are starting to address the WTO issues. “Baghdad and Erbil are discussing the unification of customs duties at border crossings.” http://sngiq.net/wordpress/?p=127139
sandyf: @Tebow: Seems Sandyf did poorly in math at school. 35.6 billion USD equivalent X $3.71 does not make 156 trillion USD. Try 132 billion USD! – It is obviously you that needs to revisit the Maths school. The current liability divided by the current rate gives the dollar equivalent of the current liability. The current liability times a projected exchange rate would give a projected liability. Your calculation has no meaningful basis.
sandyf: @Tebow: I don’t know where sandyf gets his information, I only looked at the details in his statement – That has something to do with not bothering to read the sources posted, you only look for something in the detail that can be deliberately misinterpretated.
dinard: sandyf i am ally i wont attack your theories like others here. but i gotta know what questions are they saying youre dodging? dinard: by they i mean spectra and gang
Doug_W: @dinard he has left
dinard: @Doug_W i seen that ;crying;
chattels: @dinard IMO, sandyf has avoided no questions. He concedes that he does not have the answers to every question, but I find him / her responsive to any / all questions. His / her answers are not popular, but ..
dinard: @Doug_W he is cool guy with an opinion who has yet to say anything wrong in his theory imo. doesnt mean hes right or wrong but then again nobody is in this venture ive seen
chattels: @Doug_W I have a poor vocabulary with ” digital denominations “. ?
Doug_W: so ur finger poor then?
chattels: @dinard Agreed.
chattels: In pictures: In southern Iraq, drought tightens its grip By AFP 12
chattels: The Middle East is just a hard place in so many respects.
Doug_W: @chattels yes it is indeed
sandyf: @dinard I have not dodged any questions. If people ask about something I have never said, it becomes impossible to answer. Some also ask the same question after an answer has been given, it’s like they do not like the answer and want a different answer.
chattels: @sandyf Good morning to you from the Eastern edge of America.
sandyf: Some would like to think that if information is old, then it never happened. “The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash.
The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since last year. On Thursday, a statement on the website of the cabinet secretary said the cabinet had decided to halt all procedures relating to the redenomination of the dinar “until further notice”. ”
dinard: @sandyf why are these people ssaying you dodge questions though? ive never seen your interactions with others so im just curious. they say you are a very negative nancy lol
sandyf: @chattels afternoon from a hot ,humid an very wet Thailand
chattels: @sandyf Is it correct to say that Iraq can utilize the U.S. dollar as it’s ” default currency ” indefinitely ?
sandyf: @dinard Give me a clue, I can only assume that what I say does not tie with their expectation and their only recourse is to ridicule.
sandyf: @chattels I do not know what you mean by default currency, I have never been to Iraq, are goods in the shops priced in both dinar and dollar? what do you get in the way of change?
chattels: @sandyf For some reason ” Tebow ” insists on converting the present value of the dinar to dollars in calculating the amount of dinar in circulation and / or the ” cost ” of an ” RV ” or so it appears to me.
dinard: @sandyf some over here say that your assumption of only being to exchange notes within country is false. my research from previous revaluations and re denominations says otherwise though.
i believe kuwait had an in country exchange if notes as well. i just want to know what proof you have because they think you are seeing this inveeestment as a failure but i dont cre really because ill run through iraq naked to exchange my notes lol
chattels: @sandyf I have not been to Iraq either, but understand that business is conducted in both dinar and dollars. By ” default currency ” I mean that there is no compelling reason to favor use or ” add ” value to the dinar.
sandyf: @chattels people can put there own interpretation on anything they want. As far as I am concerned the CBI say the liability in respect of issued currency stands at 42.172 trillion. There will be an update to that figure early May.
dinard: @sandyf i hate to make yourself justify but where can i find these figures to point out to others
chattels: @sandyf Agreed. I was simply trying to answer what I thought was your question about what others were saying or questioning.
sandyf: @chattels The IQD is pegged to the USD and the CBI has said that peg will remain in place. “Indefinitely” is a strong term but many ME countries have been pegged to the USD for decades.
chattels: @dinard sandyf has shared the following link several times now
sandyf: @dinard If you go to the CBI website, change to English and scroll right down to the bottom, financial status tables. Latest is March 2018. https://cbi.iq/page/73
chattels: @dinard ” Central Bank of lraq, Statements of Financial Position as of 31 Mar 2018 ”
chattels: @sandyf I listened to some of Neil Keenan to inform myself about him. He talks about things that are alien / remote to my way of thinking, but ……………….
sandyf: @chattels I went to cambodia the year before last and there everything is in local or USD, and you get your change in what you gave. There they have 2 types of ATM, national and international. Cards from outside Cambodia can only be used in an international ATM and they dispense USD. That to me is a dual currency country.
dinard: “other interests” jumped substantially in liabilities dept. wonder what the heck that means
dinard: @sandyf canadian people prefer tips in usd
chattels: @sandyf ………….. I am a confessed ” macroeconomic moron “. I struggle with the concepts of debit / credit and balancing my personal checkbook ?
sandyf: @chattels Agreed, some of it seems extremely far fetched and requires an open mind.
sandyf: @dinard crystal ball material. The audited accounts are easier to follow as they have notes on each section. the monthly is just a summary.
sandyf: @dinard I have been to Canada 3 times, my brother lived in Montreal. Did not agree with the tipping culture, far too aggressive. Tipping is a way of life here in Thailand but a lot more laid back.
dinard: @sandyf well canada is communist country you should not have expected much
chattels: @sandyf Is Thailand a ” happy ” place to live ?
dinard: @sandyf what is your best assumption on what will happen with dinars? just so i have both sides of story lol
sandyf: @chattels Mostly yes, known as LOS. Land of Smiles.
sandyf: @dinard First time ever heard of Canada being classed as communist, never to old to learn something new. I said the other day that I think there is a high probability of a redenomination during the next parliament. The real unknown is what may transpire during the preparations. One way or another I think it will be put to bed before the end of the next parliament.
dinard: @sandyf over 50% of paycheck is communist in my opinion. my grandparents left in order to have a better life because state runs literally everything there lol i too am curious too see how exchange process works out. hopefully taxes wont be too bad
chattels: I sometimes wonder to myself whether I want it all to end irrespective of the outcome or would I prefer the continuing comforts of positive illusion.
dinard: @chattels millions of dollars trumps positive illusions imo lol
dinard: @chattels you know what id do with a million dollars?
chattels: @dinard Verily, verily, but if it does not end well would I be happier with the hope thereof and dreaming thereabout ?
chattels: @dinard I do not know.
dinard: @chattels two chicks at the same time lol
dinard: @chattels but yeah seriously id rather have he cash than dreaming thereof
chattels: @dinard You betray your age perhaps. At my age I do not know what to do with / for one. ?
chattels: @dinard I would like to be debt free before I die.
dinard: @chattels would make so much money if i had money. id strive to out rich the lee wanta
sandyf: @dinard Just seen what you said previously. There is a lot of confusion with currency, fairly obvious that many cannot differentiate between “series” and “currency”. At this point in time there are 2 series of the IQD,2003 & 2013, and they have co existed for some time.
The introduction of additional denominations would be an extension to the 2013 series. What people fail to understand that in the case of redenomination, a new currency is introduced, the IQD would be replaced by most probably IQR, R being the next significant letter from Dinar.
Once that has happened, IQR would become the national currency of Iraq and international banks would only recognise IQR. Within Iraq, dusal pricing would come into effect and goods would be priced in IQD and IQR. When the CBI say currencies would co exist, they mean within Iraq.
dinard: @chattels youre a chattle so long as you have debt eh?
sandyf: @dinard That should have been dual pricing.
dinard: @sandyf i seen that earlier. so you think thats what ill happen 100%?
chattels: @dinard I use the moniker ” chattels ” in my side hustle selling antique / vintage furnishings.
dinard: @chattels chat·tel ?CHadl/Submit noun (in general use) a personal possession. LAW an item of property other than real estate.
dinard: @chattels guess that definition fits furniture too lol
sandyf: @dinard Back on the 10th April 2012, if my memory serves me right, the Iraqi cabinet postponed the redenomination until further notice, they did not take it off the table. Now that they have started talking about it again it must be a fairly high probability, very little is ever 100%. It could go in front of parliament and be kicked out for good but a good chance it will come up again.
chattels: @dinard Yes. My business card has the definition of ” chattels ” printed on it. Automobile loans and such on personal property which were ” secured ” were referred to as ” chattel mortgages.
sandyf: That’s it for today, have to report to the kitchen.
dinard: @sandyf was mainly wondering if you thought 100% only in country exchanges after RD
dinard: @sandyf dang it
chattels: @sandyf Thanks for participating in this community.
dinard: @sandyf will catch you next time
chattels: @dinard He, sandyf, has allowed for the possibility of ” special ” arrangements for dinar outside the country of Iraq.
dinard: @chattels mortgage in french means death loan
dinard: @chattels and oh?! how so?
chattels: @dinard No particulars.
dinard: @chattels what are these special arrangements he has?
chattels: @dinard I appreciate you engaging sandyf in a constructive and intelligent manner.
chattels: @dinard No particulars. He simply has allowed in general terms for the possibility.
chattels: @dinard Too many people in here are sometimes afflicted with a ” speech impediment “. They are too busy posting / talking to listen to what is being said.
dinard: @chattels i see hat youre saying. i honestly think aa special arrangement is only hope for us invvestors : but im sure it will happen
chattels: Rafidain determines the terms of loans for the purchase of cars by installments Editorial Date: 2018/4/25 9:13 • http://www.alliraqnews.com/modules/news/article.php?storyid=73040
[pm]chattels: The five year amortization and chattel mortgage on the purchase of an automobile has arrived in Iraq.
[pm]chattels: Parliamentary Finance Committee: $ 73 per barrel of oil is a very acceptable price and will contribute to filling the budget deficit 25/04/2018
[pm]chattels: He added that “the budget of 2018 prepared on the price of a barrel of oil at 46 dollars, and high oil prices to 73 dollars gives an increase of 20 million dollars could fill the deficit and surplus goes to the currency reserves, a positive indicator of the economy of Iraq this year.”
[pm]chattels: ” …………. could fill the deficit and surplus goes to the currency reserves, ……..”
[pm]chattels: I doubt that there is to be any real surplus.
chattels: An Iraqi MP from the State of Law Coalition has claimed that US funding of the Peshmerga is sowing sedition and constitutes a threat to Iraq’s unity. His comments, coming ahead of the election in Iraq, are both unfounded and irresponsible when one takes into account the Peshmerga’s record.
[pm]chattels: More Maliki mischief.
[pm]chattels: Supreme Court to hear arguments on Trump’s travel ban By Rudaw http://www.rudaw.net/english/world/25042018 ?
?foxmulder: @chattels … well the more i read the more i become numb ! So let me get this right… as the man in tailand says ! When iraq introduce new notes .only the new will be recognized !! So we should take what the CBI stated the old notes would run along side the new as a lie….
foxmulder: @chattels which leads me to say ! Think ill stick around !! I GOTTA SEE THIS END LOL.
chattels: @foxmulder I am in it until the end. I do not have to understand it.
[pm]chattels: @foxmulder I di not get into all of this because I am smart. I was desparate and hoped to get lucky.
[pm]Doug_W: and how many years ago was that “C”?
[pm]Doug_W: over 10 4 me
[pm]chattels: @foxmulder But I find myself of late asking myself, ” Do you feel lucky ? ”