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mally2

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Posts posted by mally2

  1. 1 minute ago, 6ly410 said:

    what if they legislate the oil law

    before July…Erbil and Baghdad both are very clear with their statements.we need a oil law to get this problem solved.. ( now ) . they need that federal court decision be implemented before the budget gets approved.. what am I missing ..

    I mean, I hope youre right but them being very clear on them needing the hcl is an lol for anyone that has been following this for several years. They say one thing and then turn around and do anything they can to keep the status quo of selling oil out the back door. You really think Barzani wants an hcl passed? Im hoping the federal court has teeth on this but as always Im skeptical yet optimistic. 

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  2. 12 hours ago, yota691 said:
    627b692c4c59b76ee81c2991.jpg?v=165225834
     

    Earth News/ The head of the Iranian Planning and Budget Organization, Masoud Mir-Kazemi, announced that the official exchange rate set at 42 thousand riyals to the US dollar is no longer valid, according to the budget law for the current fiscal year.

    Mir-Kazemi explained that all state revenues will be sold according to the exchange rate in the electronic “Nima” organization (designated for the presentation of foreign currency by exporters and selling it to importers).

    This comes at a time, when the official price of the dollar was set at 42,000 riyals, allotted to cover the import of basic commodities.

    Mirkazemi added that the first phase of the subsidy reform plan does not include bread and medicine, noting that the volume of subsidies for basic commodities exceeds $20 billion annually.

    Interesting. Hard for me to decipher the arabish but anyone seeing confirmation Iran is changing their rate? An Iraqi article now alluding to it as well? Should be big news

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  3. 34 minutes ago, Artitech said:

    Frank is really stupid, why try and Lie about the price of a barrel of oil. Oil is not or  been close to $119 yet. Will it hit $119.00, probably it will. But why lie about that, when everyone including those brain dead follower’s of his can easily check the price of west Texas oil. I think it got close to $110.00 then fell back to $107.00 today. As long as Putin continues with his genocide on the Ukraine people, there is no telling how high oil will go! I just don’t understand why the mainstream media is calling this a war! A war is when two are more armies fight it out, when you start killing, maiming, innocent elderly men women and children this is nothing short of war crimes against humanity! Attacking civilian targets is nothing but pure D EVIL! I hate that this criminal behavior will spur Iraq to RV/RI their currency! We are seeing predictions of oil going as high as $185.00 a barrel! This is just my opinion now with diesel fuel cost as much $4.25 a gallon in Texas! We have never seen prices like this in my lifetime!! We are in a very bad situation here in the U.S.! Iraq will be forced into doing something with dinar,  this situation has changed the window of opportunity past the 19th of March 2022! November can not come quick enough for us! We have a subversive occupation of the White House, not to mention that he doesn’t know if he is winding his watch or scratching his A$$!! He and his co conspirators will be held accountable for their criminal behavior! JMHO! 😪

    I don’t disagree on frank but Brent crude is around 118 as I type this? Could continue to rocket up with more and bigger war, or could drop some with announcement of Iranian oil entering more markets. 

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  4. 8 minutes ago, wizard1 said:

    I have asked the following question before and received no explanation.

    Iraq and Iran are two separate countries, are they not?  so why is it that Iran is allowed to participate in Iraqi  politics? It would be like Mexico having a say in the politics of the USA. Me thinks.

    Because its not like that at all. The mid-east has been chopped up and country lines redrawn many times. Iran is a shiite dominated country and Iraq is one of the only other shiite majority countries in the mideast. Many muslims consider themselves of their religious tribe well before any kind of patriotic tribe. Like it or not Iran and Iraq will be connected in some way as long as Islam is alive and well. 

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  5. 20 minutes ago, DWS112 said:

    Completion of the payment of compensation to the State of Kuwait

    December 21, 2021

    Completion of the payment of compensation to the State of Kuwait

     

    Completion of the payment of compensation to the State of Kuwait

     
    The payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars has been completed, thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the UN Security Council pursuant to Resolution No. (687) for the year 1991, with a total of (52). 4) One billion US dollars for the State of Kuwait.


    It is hoped that ending the payment of compensation will contribute to removing Iraq from Chapter VII, as well as its impact on re-integrating the Iraqi banking system with the global banking system and benefiting from the financial abundance that will be achieved.

     
    Central Bank of Iraq
    Media Office 
    December 21, 2021

    News of the day! I like that last paragraph they threw in. 

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  6. 5 minutes ago, Laid Back said:

    Thanks for your input DoD,

    It is totally possible, they take 3% of the monthly oil sales to pay Kuwait  

    We are talking about $200 to $300 million a month.

    The news article from October talk about a balance of $629 million dollars 

    so, it will take about 2 to 3 months.

     

    Happy Holiday’s DV……Get ready for 2022

     

     

     

     

    It’s less now, this is from article yesterday on previous page. 

     

    The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.

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  7. Just now, yota691 said:

    Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait

     

    Pratha News Agency 48 2021-12-09

    The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.

    Turki said in a press interview, "The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction."

    Pointing out that "a final batch of Kuwait's compensation amounting to 43 million dollars remains to be paid through the Central Bank of Iraq in one go, so that Iraq will end these compensations in full, which amount to 52.38 billion dollars."

    And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.

    Turki called for "the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."

    The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.

    The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.

    Iraq stopped making payments in 2014 during the war on ISIS, the terrorist organization that took control of large parts of the country, but it resumed payments in 2018.

     

     

    As anyone who has been on this ride for several years can attest, we've all thought this was it before. Im feeling that again, great news in this article and thread. Thx Yota

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  8. 16 hours ago, coorslite21 said:

    Saudi's are at 27 cents..  should at least match that...😮

    Saudi riyal is 1/100 currency. Iraqi dinar is 1/1000 currency. One unit of a riyal is a qirsh 1/100, one unit of a dinar is a fil 1/1000. I'd think the plan involves a dinar worth quite a bit more than the riyal but theres various ways to get there, hoping for the best. 

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  9. 25 minutes ago, yota691 said:
     
     Al-Najaf Al-Ashraf: Morning
     
    The leader of the Sadrist movement, Muqtada al-Sadr, considered the victory of reform a victory for Iraq.
    Al-Sadr said in a televised speech yesterday evening, Monday: "Praise be to God, who cherished the reform with its largest bloc, an Iraqi bloc, neither eastern nor western, whose light shines from the land of Iraq, its people and its bounties."
    He added, "This is your day, O people of Iraq, in which reform has triumphed. Today is the day of Iraq, determination and steadfastness, and the day of the people and the state," noting that "Iraq is the Iraq of reference, the wise, the wise, and the dignitaries. ".
    He stressed that "there is no place for corruption and the corrupt in Iraq after today, and we will eliminate corruption with our blood if necessary, so come to a reform paper, in which there is no sharing of power over the interests of the people."
    He pointed out that "all embassies are welcome unless they interfere in Iraqi affairs and form the government," noting that "any intervention will have a diplomatic, and perhaps popular response, because Iraq is for Iraqis only and we will not allow interference at all."
    He called for "the necessity of restricting arms to the hands of the state and preventing their use outside this scope," explaining that "it is time for the people to live in peace, without occupation or terrorism." The leader of the Sadrist movement pledged that "from now on, the government or the parties will not have control over the money and bounties, but rather it is for the people, and the people's oil is for the people, and we will work to raise the level of the Iraqi dinar to be in the ranks of global currencies gradually."
    He pointed out that "construction, industry, agriculture, education and health have a large share of the efforts of benefactors, with no difference between one governorate and another except in terms of need and the number of its residents.

     The leader of the Sadrist movement pledged that "from now on, the government or the parties will not have control over the money and bounties, but rather it is for the people, and the people's oil is for the people, and we will work to raise the level of the Iraqi dinar to be in the ranks of global currencies gradually."

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  10. This is just my opinion. This is not the HCL, that is a stand alone piece of legislation but if and when we ever see the hcl it involves profit sharing for all Iraqi citizens to get paid based on oil sales. Just like all people in Alaska get a small check for oil sales. IMO this law is more closely related to and linked to the hcl than the budget law which gets celebrated as being the hcl dozens of times a year in dinarland every time a new one is negotiated and worked on. This law reads to me like they are getting things in order to profit share with the citizens from oil sales...thus we might be close to them legislating the hydrocarbon law. I believe this can will continue to be kicked until we see reforms involving their currency. 

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  11. 3 hours ago, DWS112 said:

    Cabinet Secretariat sets Eid al-Adha holiday

    July 15, 2021

    Cabinet Secretariat sets Eid al-Adha holiday

     

    The General Secretariat of the Council of Ministers set, on Thursday, the Eid al-Adha holiday, starting from next Sunday.


    The secretariat said in a statement, "The Eid al-Adha holiday begins on Sunday, 7/18/2021, and ends on Saturday, 7/24/2021."

     
    And she added, "that official working hours will resume in all state departments, on Sunday, 7/25/2021."

     

    Even after a decade plus of reading the Iraqi news I cant recall if this is normal. From what I can tell from google this holiday is technically only Monday and Tuesday next week so why are they shutting down for the whole week? 

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  12. 6 minutes ago, wciappetta said:

    If you're suggesting as a politician he had influence on the exchange rate before being president I'd say that's a stretch...in either case, Shabibi references the 70's as the goal for the exchange rate which is exactly what the US State Dept. plan  suggested in 2001.... The image below is from the "Future of Iraq project" document 

    Why new Currency_LI (2).jpg

    The mere fact that they used a unit of 1000 fils still for the new Iraqi currency vs a denomination unit of 100 like the Saudis despite the fact that the new dinar was going to be worth a fraction of a penny tells you the long term plan is to have it worth well over a buck again some day. Doesn't mean our current denominations will be but thats where the "speculation" aspect comes in. 

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  13. 50 minutes ago, 3n1 said:

    this is nothing new this agreement has been before ,  250K barrels for a cut of the budget they'll rock along doing ok for a period then one will blame the other for not following their agreement terms usually baghdad will claim erbil not sending the 250k barrels thru somo pipeline erbil counters that baghdad stopped payment then its back to square 1 , the oil n gas law should provide a financial percentage for the citizens no mention of that !  imo this is just a slush fund restart , i really hope im proved wrong. we wait 

    I agree that’s the usual song and dance up through them passing a budget but I don’t remember these negotiations after passing a budget? Maybe I’m remembering wrong, thought they usually went to their corners post budget vote and waited a couple months for each side to claim breach in deal. Seems to me this is a break in pattern but I’m not seeing why? Hoping these white paper reforms have something to do with it. 

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