Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

Leaderboard

Popular Content

Showing content with the highest reputation on 03/09/2020 in all areas

  1. Because an RV would immediately give Iraq more purchasing power in all the billions of dinar they hold. You have to remember that the current rate of US$0.0085 is not a market rate. It is, and has been for many years, artifically and deliberately kept that low via the CBI auction. The reason for that is that, after the fall of Saddam Hussein, Iraq purposely devalued their dinar so that it would be cheaper to rebuild after the devastation. Iraq has always planned, and has said sp many, many times, that at some point, they want to add value to the currency and someday get back up to over US$3. While that may not be possible now because oil looks like it will stay low for a long, long time, certainly a free market there could sustain something between a few pennies and a buck. This whole situation is the reason we all invested in the dinar in the first place.
    20 points
  2. Basra light crude price today at $46 per barrel. I believe budget calculations are base on $56 dollars per barrel.... More pressure on Iraq. I think is it time for the CBI to intervene and jumpstarts the economy.
    15 points
  3. That is exactly right. He also said that it would look really bad for Iraq it would happen SUDDENLY. Everyday Iraq looks worse and worse. You have to feel things are getting close.
    11 points
  4. Nothing, Nothing, Nothing, Nothing and then SUDDENLY 20,000
    11 points
  5. About 90% of their economy rely on oil sales.... Low oil prices will affect the 2020 budget negatively. I think this could help to move the RV forward. Go low prices Go RV
    11 points
  6. Generally I stay out of these threads, but I agree with the guru OOM here - I think they did want over $3 at first, and there was a small chance it could have happened. Now that time has passed, and more people (and institutions) are aware of it and have had time to prepare, they will have to keep it to a dollar or less. Dang that opportunity cost! Just my
    11 points
  7. My feeling exactly.
    10 points
  8. I'm listing to FOX News with Maria Bartiromo talking about the fall in oil around the world and the correction that needs to take place, some type of stimulus so that the oil market won't collapse...........easy fix for Iraq RV! Sorry wasn't able to get a link.
    10 points
  9. A lot of big news events all around the world Adam. I’m thinking this just might be the beginning of an extraordinary financial event. It’s all a process and it might take years to play out but the CV outbreak might be the “red flag” triggering mechanism. Always thinking positive, even when the news is scary, and not too great. Thank you you for all your posts Adam.
    10 points
  10. 3n1 I agree. Mary B good article. This is what these guys do. They wait for a crisis and then us it as an excuse to dip into the til. we all know what the answer is... Revalue the currency to a fair and reasonable value. Maliki tried this when he was in office. They bring this on themselves and want To go to the easy low hanging fruit first instead of doing what's right. I just hope Al Alak has the balls to just say no, and then turn around and do what's right. We will see. It's crunch time now. Oil prices well below the prescribed rate for the budget and dropping. The reserves are solid and can cover the value of the currency at at least 1:1. Note count has been substantially reduced. Git er done boys! Mr.Unlikely needs a new boat!
    10 points
  11. CNN. Broadcasting ‘Expert Strategy For Dummies’ - I Bought The Coloring Book ! They Advise U To Try And Stay Within The Lines ... Hmmm ... So That’s What I’ve Been Doing Wrong ... LINK Strategic expert: The value of the Iraqi dinar will decrease in relation to the US dollar as oil falls 9th March, 2020 The strategic expert, Eric Davis, stressed that the value of the Iraqi dinar will decrease in relation to the US dollar as oil continues to decline. "The value of the Iraqi dinar will decrease in relation to the US dollar, and the reason is that the Iraqi dinar will represent a weaker economy as oil prices continue to decline due to lower global industrial production," Davis said in a tweet on Twitter. He added that "Iraq has 95% of its external revenues from selling oil. Iraq must diversify its economy."
    9 points
  12. 3-9-2020 Newshound Guru Breitling ...the coronavirus...I've literally had people go nuts on me...here's the thing, it's completely opposite. The markets are driving oil prices down. The demand for oil is going down. Therefore Iraq is not bringing in enough U.S. Dollars to cover their budget, and the solution is to add value to their own currency which is undervalued anyways. What do you think the coronavirus is gonna do? Do you think it's going to stop that or accelerate that? ...the reality for Iraq, if it puts pressure on their economy, then it's going to lead to our advantage. They need to add value to their currency to make up for what's being lost market wise...
    8 points
  13. Added @ 10:15 AM CST: 3-9-2020 Intel Guru Footforward [Question: You don't think that this level of price drop endangers an RV? Hard to believe that Iraq could come out at a decent rate with this sort of price plunge on oil.] I see it pushing the financial crisis in the middle east to a breaking point where they have to RV. They will have to make a deal with Saudi Arabia on oil prices to make that happen.
    8 points
  14. Yo. Engine 1. ! A little Currency Exchange 101. Cashing In - Doesn't Happen. Its called an Exchange for a reason. A Exchange ..( less bank spread fees) a Even One. No Gain or Loss on either side.....An Exchange. So read up on that ...and there will be a test this Friday. 😎😎
    8 points
  15. Weegie - Weren’t U Supposed To Take The RV To Midas First To Get The Brakes Fixed ?
    8 points
  16. Bankers hold an important meeting to discuss economic decisions 09/03/2020 Side of the meeting. "Economy News" The Economy News - Baghdad A number of bankers held a meeting at the headquarters of the Iraqi company to finance small and medium enterprises to discuss a set of economic and banking decisions. Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed. The meeting also discussed, among other things, the Central Bank’s instructions regarding housing loans and the conditions contained therein. While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions. The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the central bank and the Securities Commission to prepare a study on this topic.
    7 points
  17. http://www.basnews.com/index.php/en/news/iraq/587406 Iran Says Expulsion of US Troops from Iraq Imminent ERBIL - Ali Shamkhani, the secretary of Iran’s National Security Council, said on Sunday that the expulsion of the US troops from Iraq is imminent, noting that killing Iran's top commander, Qassem Soleimani, by Washington was a "strategic mistake." Shamkhani made the comments on Sunday during a meeting with Iraq's Intelligence Chief Mustafa al-Kazimi in Baghdad where they discussed various topics, reports said. "Assassinating generals of Resistance Axis, Marty Haj Ghasem Soleimani and Abu Mahdi al-Muahdis, was the result of a strategic mistake by Trump and the evil team in the White House," he said, according to Mehr News Agency. "The countdown to the expulsion of America from the region began the early morning of Friday, Jan. 3." Kazimi is also a candidate of the Shia factions for Iraq's premiership. Shamkhani further argued that the participations of people in gatherings outside of the US embassy in Baghdad indicated that they want the US troops out of the country. "Political and security developments of Iraq have a grave influence on regional stability and peace," he said, adding, "The Islamic Republic has always supported the formation of powerful and efficient government according to Iraqi people’s vote and determination."
    7 points
  18. “Kurdistan Regional Government has suspended all government institutions from March 11 to the 26th of this month” Perfect timing for an RV in March 22/2020. just saying Go RV
    7 points
  19. LINK Trump: Saudi Arabia and Russia disagreement over oil prices and false news caused the decline in the energy market 9th March, 2020 US President Donald Trump considered the reason for the decline in the global energy market due to the dispute between Saudi Arabia and Russia over oil prices and what he described as "false news." "Saudi Arabia and Russia disagree about the prices and flow of oil. This is and the false news is the reason for the market's downturn," Trump said, in a tweet posted on his official account on Twitter. Nevertheless, the US president stressed, in another tweet, that "the decline in gasoline prices is good for the consumer."
    7 points
  20. Cashing in, is an expression. What you will be doing is a currency exchange. The banks actually make money on what is called 'the spread ' a fee charged by the bank for the service of giving you a currency exchange. Thus the RV won't cost the bank a single penny.
    7 points
  21. LINK Bankers hold an important meeting to discuss economic decisions 9th March, 2020 A number of bankers held a meeting at the headquarters of the Iraqi Company for Financing Small and Medium Enterprises to discuss a set of economic and banking decisions Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed The meeting also discussed, among other things, the Central Bank’s instructions for housing loans and the conditions contained therein While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the central bank and the Securities Commission to prepare a study on this topic
    7 points
  22. INTERNAL BANK TRANSFERS ERBIL BANK FOR INVESTMENT AND FINANCE PROVIDES ITS CLIENTS WITH THE SERVICE OF INTERNAL TRANSFERS IN THE CURRENCY OF THE US DOLLAR, THE IRAQI DINAR, AND THE EURO MONEY TRANSFERS ONLY RTGS ACH MONEY TRANSFER INSTRUMENTS FOREIGN BANK TRANSFERS ERBIL BANK FOR INVESTMENT AND FINANCE PROVIDES THE SERVICE OF MONEY TRANSFERS AND TRANSACTIONS WITH EXTERNAL BANKS, WHICH ARE DONE THROUGH THE METHOD OF THE SWIFT SYSTEM ISSUING FOREIGN TRANSFERS TO ANY BANK IN THE WORLD IN AN HONEST AND FAST MANNER ACCEPTING FOREIGN TRANSFERS RECEIVED FROM THE BANK FROM ALL OVER THE WORLD
    7 points
  23. LINK The House of Representatives will resume its sessions next Saturday 9th March, 2020 A member of the House of Representatives, Deputy Alia of the Emirate, revealed, on Monday, that the House of Representatives will resume its sessions next Saturday. The emirate said, "It was assumed that the House of Representatives will resume its work during these days, but the recommendations of the crisis cell on the Corona virus prevented this." She noted that "Parliament has set next March 14 as the date for the end of the legislative holiday and the convening of the first session of the parliament."
    7 points
  24. 7 points
  25. Bankers hold an important meeting to discuss economic decisions http://economy-news.net/content.php?id=19236 Banks The Economy News - Baghdad A number of bankers held a meeting at the headquarters of the Iraqi company to finance small and medium enterprises to discuss a set of economic and banking decisions. Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed. The meeting also discussed, among other things, the Central Bank’s instructions for housing loans and the conditions contained therein.While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions. The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the central bank and the Securities Commission to prepare a study on this topic Number of views 141 Date added 09/03/2020
    6 points
  26. Thought the very same thing LGD and Chuck.
    6 points
  27. LINK Trade Bank of Iraq 9th March, 2020 Our dear customers: We would like to inform you that the promotion of personal loan transactions has been stopped until further notice. So it is necessary to note.
    6 points
  28. The Iraq economy is not in a place to handle a further plummet, an RV would be a robust jolt.
    6 points
  29. 3-9-2020 Newshound Guru Pimpy ...because of the coronavirus crude oil is tanking, just like cryptocurrencies. Just like the Dow. These things are getting killed. Just getting annihilated...it dropped to $45 (3/08). I think right now. It might have dropped a little bit more..(Today, Monday 3/09 its $32)...between the protestors and their government and the PM I don't know how much worse it can get for Iraq. It's just at its worse...this actually might be good for us in the Iraqi dinar community...let's just hope that oil prices keep going down and maybe that might trigger something that we've been waiting for...if ever a time before where Iraq needed a rate change to happen it's definitely now...Pimpy posted this yesterday...!
    6 points
  30. That would be 27 cents to 1 USD.....perhaps the perfect storm? CL
    6 points
  31. interesting plot twist there for Russia - survive sanctions, emerge stronger. Also of note is that Saudi Arabia needs $100 per barrel prices to balance their budget, and what’s their currency value again?
    6 points
  32. https://www.almaalomah.com/2020/03/09/460891/........... Abdul-Mahdi: America is pressuring Iraq to cut ties with Iran 10:54 - 09/03/2020 0 The information / Baghdad .. Resigned Prime Minister Adel Abdul-Mahdi attacked , Monday, the United States of America , accusing it of pressuring Iraq to "cut" ties with Iran , while noting that Washington had made the situation in the region more complicated by pressuring Iran and Iraq. "The people and the government do not want Iraq to be a place to settle scores and conflicts between other countries," Abdul-Mahdi said while receiving the secretary of the Supreme National Security Council of Iran, Ali Shamkhani in Baghdad, according to what the Iranian News Agency reported . He added that " America, by leaving the nuclear agreement and exerting pressure on Iran and Iraq, has made the situation in the region more complicated, and now also through the escalation of pressure on us, it wants us to cut ties with Iran, while the geopolitical logic requires that we take advantage of the capabilities of our neighbors in a way that serves our interests and security." the National". Abdul-Mahdi added that "the people and the government in Iraq achieved victory after many years of fighting terrorists and ISIS, expressing his thanks for the assistance that the government and people of Iran have made and standing by the Iraqi people during the difficult years in combating penitential terrorism." And Abdul-Mahdi pointed out that "during the last year we witnessed good progress in relations with neighboring countries, regional states and outside the region in the economic and agricultural fields," stressing "the true partnership between Shiites, Kurds and Sunnis in the management of the country, and therefore all Iraqi political components must unite for Achieve progress for the country and provide services to the people. Abdul-Mahdi expressed his "thanks and appreciation for Iran's willingness to provide assistance to Iraq in combating the Corona virus," saying that "it is natural that all countries need to cooperate with each other in facing such disasters." Ended / 25
    6 points
  33. Exactly, and until they can get a handle on this corruption we are fighting an up hill battle.
    6 points
  34. The CBI is an independent entity on charge of monetary policy. I believe they are ready to move from a closed economy to an open market economy, but some members of the GOI wants to continue stealing money from the daily auctions. The ruling class love the daily auctions... They don’t want it to end. Moving to an open market economy means no more daily auctions of US dollars. Go open market economy Go end of daily auctions Go end of corruption Go dinar market value
    6 points
  35. Trade Bank of Iraq showcases investment opportunities in Iraq at Global Trade Review MENA 2020 summit https://tbi.com.iq/?news=trade-bank-of-iraq-showcases-investment-opportunities-in-iraq-at-global-trade-review-mena-2020-summit Baghdad, February 26 2020: Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector. Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several potential investment opportunities in the region especially in the power sector. It’s assessed that the real GDP growth of Iraq is expected to grow up by an average of 3.1% by 2023 with non-oil GDP expected to grow tremendously on the back of the reconstruction efforts. TBI representatives present at the GTR MENA summit highlighted the potential opportunities to invest in the fledgling economy as the country continues to rebuild. Commenting on TBI’s participation at the GTR MENA summit Faisal Al Haimus, Chairman & President of Trade Bank of Iraq said: “We have seen a lot of success in the recent years and are on the path to bigger things. Our presence at the GTR is a reflection of our ambition to earmark our presence outside Iraq. “TBI’s total assets has recorded an increase of 27% and our net profits has seen an increase of 68% in the year 2019 compared to the previous year and we are committed to build on this growth. “We are working on the growth and expansion of our operations and will be soon making a few announcements in the coming days.” TBI is currently working on expanding its network domestically & Internationally to diversify the sources of revenue from retail banking in Iraq to international operations in order to achieve a 30% compounded annual growth rate envisaged in the bank’s business plan for 2020-23. ENDS About Trade Bank of Iraq (TBI) The Trade Bank of Iraq was established in 2003 and is the top commercial bank in the country. The bank holds approximately 80% of the trade finance business in Iraq and ranked 1 among Arab banks in terms of cost to income ratio and 332 globally in terms of Tier 1 capital. It has established 26 branches across Iraq, offering a wide range of banking services to all customers including companies, individuals and government institutions to widen its customer base and expand into new markets.
    5 points
  36. Iraqi protesters stand firm, say corruption worse than coronavirus March 7, 2020 BAGHDAD — A group of protesters in Saadoun Tunnel under Tahrir Square in the center of Baghdad were chanting on Friday night, March. 6, calling on Coronavirus to come to Iraq and take revenge from the militias and corrupt politicians who killed them during the 5 months of protests. "Listen to us Corona, come and visit the thieves who stole our wealth, come and take revenge from who stole our dreams, we only loved our homeland but they killed us," protesters were chanting. Despite the rapid spread of the coronavirus in Iraq, protesters have maintained a steady presence in Baghdad's Tahrir Square and other public areas, with no sign of intent to retreat or scale back their demonstrations. On March 5, hundreds of university students in Basra took part in a rally, chanting, “Politicians are the real virus,” “Corruption is the real virus” and “You are the corona,” in reference to the politicians the protesters accuse of being loyal to Iran instead of Iraq. Basra has been the site of several other rallies as well, demanding the border with Iran be closed after many cases of the virus were traced to people coming from Iran. The Ministry of Health reported a third death from the coronavirus and three new cases of infection March 5, increasing the total number of people infected to 40. Most of the COVID-19 cases have been linked to neighboring Iran, where 107 people have died in the worst outbreak in the Middle East with a reported 3,500 infected. In the southeast of the country next to Iran, the local Basra government has closed schools and universities in the province until the mid-March and is expected to extend the closures after that. The central government in Baghdad plans to implement the same measurements for the rest of Iraq and the Health Ministry ordered the closure of cafes, restaurants and cinemas to prevent the spread of the virus. Many religious institutions all over the county have canceled gatherings until further notice. Despite all the precautions, the protesters who have been gathering in the squares and streets during the last five months in most of Iraq's central and southern cities are not staying home. Not only are the protesters holding firm, but more people are joining their ranks. On March 1, as Mohammed Tawfiq Allawi missed the deadline to form his Cabinet, thousands of protesters from Dhi Qar, Wasit, Karbala, Najaf, Babil and other parts of southern Iraq joined the protesters in Baghdad and moved toward the Green Zone, where the parliament and most of the government buildings are located. Some of them are from Sunni areas such as Salahuddin, northern Baghdad, and Anbar province. Activist Khalil al-Assadi from Nasiriyah, who has remained in Baghdad’s Tahrir Square since attending the March 1 rally, told Al-Monitor, “I am going to die either way, from the virus or fighting against the government, but at least I know I'll have died fighting for change rather than from a virus at home.” “The death toll from the virus is much lower than the number of casualties killed by pro-Iranian militias during the last five months,” he added. Nearly 700 people have been killed and about 30,000 wounded since the protests began in October. Distrust toward the Iraq health care system has led some protesters not to take the authorities' advice seriously. Iraq’s health care system, which once had the highest medical standards among the Middle Eastern countries, has declined significantly due to decades of wars, sanctions, corruption and political crises. Yusuf Mikhaiel, a Christian protester and a medic from Baghdad, told Al-Monitor, “Iraq's Ministry of Health is pathetic, dysfunctional and underfunded. The virus will eventually spread everywhere, due to years of negligence and government corruption.” He added, “The real virus is the government.” The protesters accuse the government of hiding the actual numbers of those infected and the virus' transmission from elsewhere to Iraq. “Iran is a state of liars. It lied about the numbers of casualties in the anti-government protests, lied about the Ukrainian airplane for four days and is lying about coronavirus now as well,” tweeted Iraqi activist Ahmed Fawzi, adding, “Iran is the reason for the virus' spread in Iraq and everywhere in the region.” “Iran's regime is always lying about everything, just like the Iraqi government — Iran puppets,” another Iraqi protester tweeted Feb. 23. The protesters' strong feelings against Iran's influence in Iraq have contributed to the formation of conspiracy theories. Some believe that the virus was intentionally transmitted from Iran to Iraq to end the protests. “The government uses coronavirus as an excuse to end the protests. They tried everything — snipers, live bullets, tear gas, abduction and so on and on — but they failed,” said Yasamin Mustafa, a teenage protester from Basra. “They are now finding another way to stop us, but they will fail again.” Found in:CIVIL SOCIETY, HEALTH AND MEDICINE Hassan Ali Ahmed is an Iraqi academic who focuses on Iraq’s international relations and foreign policy. Read more: LINK
    5 points
  37. SaudiArabia is trying to get rid of opec and take its place in charge of oil, They hate Russia and Iran. watch what happens!
    5 points
  38. 3-8-2020 Newshound Guru Breitling ...I get emails from people asking what rate would you get out at? We know what they want. At a minimum they want to get to a dollar. Back in the day, they wanted to get to $3.25...There's no way to know. That's why I suggest that it's very important that you know what you want. You got to buy a house. You want to pay off your house. What are you gonna do? That will give you your best measuring stick that you need to be able to exchange and at what rates...we're all speculating on a real opportunity...
    5 points
  39. Oil Prices at 11:45 AM CST: Opec-Mitglieder (tägliche Preise) Letzte Änderung Änderung in % Letzte Aktualisierung Murban 50.32 -2.44 -4.62% (3 Tage Verzögerung) Iran Heavy 37.88 -5.86 -13.40% (3 Tage Verzögerung) Basra Light 46.34 -4.54 -8.92% (3 Tage Verzögerung) Saharan Blend 46.41 -6.05 -11.53% (3 Tage Verzögerung) Bonny Light 46.33 -5.61 -10.80% (3 Tage Verzögerung) Girassol 46.07 -5.81 -11.20% (3 Tage Verzögerung) Arab Light 29.05 -23.39 -44.61% (11 Stunden Verzögerung) Zafiro 33.43 -15.79 -32.08% (11 Stunden Verzögerung) Kuwait Export Blend 49.82 -2.43 -4.65%
    5 points
  40. 5 points
  41. Futures plunge on the CV and Oil news. Trading Limits triggered. Wow. Buckle up!! S&P are down -140 DJ-30 -1078 Nasdaq - 387 Oil is in the low 30’s 10 year at .51yield. Gold up 25 ish
    5 points
  42. OUCH!!!, Pitcher, Things Are NOT Lookin' Pretty For Tomorrow!!! https://quotes.ino.com/charting/?s=NYMEX_CL.J20 In your opinion, do you think they will hit the NYMEX trade kill switch before the open or do you think they will let it open then hit the min stop before the kill switch is activated? Seems like the open could be a more severe hit than the kill switch is set. Maybe I am talking out of turn whereas I thought I remember a stop gap measure (kill switch) was put in place about twenty years ago. Your opinion, Pitcher, is Highly Esteemed!!! Thank You in advance! The flip side COULD be the Bicraqi Iraqi will be taking financial hits AND THEN "flip" THEE "RV" "switch" LIKIE REAL, REAL FAST!!! Go Moola Nova!
    5 points
  43. Let’s see what gold does this week on the news that SA is slashing oil prices. All I can say is I am glad I bought 1 gold ETF on Wed, and a gold stock on Thurs for Swing Trades. Both took a hit on Friday but didn’t trigger my stop.
    5 points


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.