Go Iraq Part 5

[lmb4321]

Did you purchase the Rial?... If so....how long a go did you buy it?

Never was on my radar...i bought the Dong a few years back

[navira]

I bought rial 2 years ago...after reading all the news 

[DinarThug]

 

8 hours ago, SONIA1 said:

Not true 10000rial=1 toman   so    1000000 rial will = 100 new toman

1000000rial will =$23    1 toman will = .23      Itś a lop

 

7 hours ago, DinarThug said:

Yep - Nice First Post Newbie !  

     

Iran plans to cancel 700 million rial banknotes

 

8th August, 2019

 

Iran's central bank chief announced on Thursday a plan to cancel 700 million rial banknotes and inject a new edition as part of the conversion to the Toman.

"A plan to cancel 700 million rial banknotes and inject a new edition as part of the conversion of the toman," Hemti was quoted by Fars news agency as saying. 

"With the enactment of the abolition of the four zeros from the national currency, the coins will be completely out of people's hands," he said

 

It is noteworthy that the Iranian Cabinet prepared a draft law to cancel 4 zeros from the national currency of the riyal and converted to the name of the toman.

 

4 hours ago, SONIA1 said:

Thank you did the bros see it😂

 

Do U Seriously Think If The Bro’s Actually Read It - That It Would Make A Difference !  

 

 

Especially If They Had Just Gotten New Socks ...

 

     

[navira]

Lmao

[DinarThug]

1 minute ago, navira said:

Lmao

 

     

[navira]

Couldn't stop laughing bro lol

[lmb4321]

Thugs!!!

[lmb4321]

navira,

do you anticipate any good news in the next few days?

Or are we waiting to see if the Rial revalues on Monday...

[navira]

I anticipate for more news on Iran as we get closer to Monday bro...as for Iraq , we may get a surprise ...or both may surprise us suddenly 

[navira]

WASHINGTON (Reuters) - US President Donald Trump has again expressed dissatisfaction with the dollar's strength, saying the Fed's policy on interest rates is hurting US manufacturers, according to Reuters.

"The high level of interest rates of the Federal Reserve compared to other countries keeps the dollar higher, which makes it more difficult for US manufacturers to compete in a level playing field," Trump said in a series of tweets

[navira]

 

 

This is not the first time that Trump has criticized the appreciation of the dollar exchange rate, and is believed that the strong US currency hinders the export of US goods and services, as well as worsening the US trade deficit, which reached in 2018 the level of $ 621 billion. 

Trump argues that if the dollar becomes cheaper, foreign consumers will prefer to buy American goods, which will increase production and reduce the deficit in foreign trade. 

Earlier, Bloomberg quoted a senior administration official as saying that Trump believes the dollar's current exchange rate is too high, a sign that the US president has abandoned the strong dollar policy his predecessors have stuck to power

[navira]

This tweet from trump is the reason why we may get higher purchasing power on both Iran n Iraq . America cannot continue to have a strong dollar while the deficit continues to climb to a highest level...

[navira]

Hey bro botzwana...I read ur message ...hang in there bro..we are almost done

[zul]

15 minutes ago, navira said:

Hey bro botzwana...I read ur message ...hang in there bro..we are almost done

 

I too said many crazy things when i first joined this site........and still do.

 

 

Just keep Thugs on your mind and I'll be fine....🐒

Edited August 9, 2019 by zul
.

[navira]

Iraqis have returned to Habbaniyah Lake to revive an area that was once one of the most popular tourist spots in Iraq before being neglected for nearly two decades by the war on terrorism and extremism.

Nearly 20 years ago, tourists who flocked to the lake stopped from nearby cities shortly after the US-led invasion in 2003. 

But local tourists are slowly returning to the lake, spending their time smoking shisha, grilling fish or skiing on its waters

[lmb4321]

53 minutes ago, navira said:

Hey bro botzwana...I read ur message ...hang in there bro..we are almost done

Bump that bro......

[Laid Back]

Iraq still has some work to do before an increase of the dinar exchange rate.

 

Go iraq

Go facts 

Go truth 

[ChuckFinley]

21 hours ago, Half Crazy Runner said:

 

I got all my fingers crossed 🤞🏻 for you pp! Can’t wait to hear how it goes! 

Same here. I want to see a success story.  

Edited August 9, 2019 by ChuckFinley

[ChuckFinley]

29 minutes ago, Laid Back said:

Iraq still has some work to do before an increase of the dinar exchange rate.

 

Go iraq

Go facts 

Go truth 

But I still feel we are on the down side closing this out. 

[Arceo]

39 minutes ago, Laid Back said:

Iraq still has some work to do before an increase of the dinar exchange rate.

 

Go iraq

Go facts 

Go truth 

 

Yup! They out there trippin

[Laid Back]

4 minutes ago, ChuckFinley said:

But I still feel we are on the down side closing this out. 

Lots of progress in the last year but still some work to do my friend. I posted an interesting article in the opinion section. It shows Iraq reality.

 

Go Iraq

Go reality 

 

[eburt]

2 minutes ago, Laid Back said:

Lots of progress in the last year but still some work to do my friend. I posted an interesting article in the opinion section. It shows Iraq reality.

 

Go Iraq

Go reality 

 

Laid Back base on the article do we think we are several years from Iraq RVing their currency any time soon...yes they have made lots of progress over the years but still lots of work to be done and many laws still needs to be pass....Just wanting this thing to be over...

[Arceo]

While no one will admit it. I think human nature would make most people feel more of a success in being “right” rather than This RV to occur. 😂

[Dinarrock]

48 minutes ago, eburt said:

Laid Back base on the article do we think we are several years from Iraq RVing their currency any time soon...yes they have made lots of progress over the years but still lots of work to be done and many laws still needs to be pass....Just wanting this thing to be over...

Iraq still does not have a fully seated government! They are missing the education minister and have tried a few times to get one voted in but didn’t. They talked about combining this position with the higher education minister but again they have not! They have talked about voting in a new CBI Governor but have not! My guess is until these two big items are completed we will have no RV period! How long that takes is anyone’s guess but I also do not believe the HCL has anything to do with the value of their currency we do not need that law.. once that passes they will distribute the wealth to the Iraqi people no matter what the value is!! We also see Iraq get many things accomplished behind the scenes at times so if and when this thing finally does RV I bet you will see very quickly a whole bunch of laws either already passed and waiting to be implemented or they will be completed in an emergency Parliament session if needed. The big law that was already passed is the FML law which was supposedly put in force this past week I think but who knows. I would imagine though the next big window of opportunity will be first of January but really hoping they surprise us and pull the trigger sooner IMO!!

[KristiD]

 

14 hours ago, navira said:

Hey pp, I havent been able to do any exchanges on zimbabwe...the latest I got out of it is this

The Zimbabwean dollar makes a return a decade later but uncertainty reigns

Zimbabweans will no longer be able to pay for goods and services in US dollars or other foreign currencies after a government decree issued this week outlawed the use of foreign currencies in local transactions.

With effect from June 24, the United States dollar, British pound, South African Rand, Botswana pula and a host of other foreign currencies are no longer legal tender in any transactions in Zimbabwe.

Instead, a new currency called the Zimbabwe dollar will now be the sole legal tender in the country.

The Zimbabwe dollar comprises of bond notes, coins, electronic balances and the RTGS dollar. Under the new law, the RTGS dollar is at par with the Zimbabwe unit. It is a return to Zimbabwe’s original sovereign currency after independence in 1980. But the original Zimbabwe dollar was abandoned in 2009 after years of economic upheaval, currency devaluation and devastating hyperinflation. That led to the adoption of the greenback and other more stable currencies.

The new policy is seen to be in line with finance minister Mthuli Ncube’s long-term plan to create a new currency and address his concerns that the country’s business community has been quietly leading an unofficial process to re-dollarize the economy yet again.

 

 

By Chris Muronzi in Harare ZimbabweJune 26, 2019

 

 

 

 

 

I actually follow Zimbabwe because my brother-in-law's family lost all their wealth there when Rhodesia was overthrown and Zimbabwe was born.  I was really saddened to read this article earlier this week.  I had started to suspect that Mnangagwa was a pretty bad leader, but I figured anyone was better than Mugabe.  Turns out I was probably wrong.  Rampant inflation, starving people, widespread shortages and it looks like Zimbabwe is on the verge of economic collapse.  It is heartbreaking because the country used to be the breadbasket of Africa (until they kicked out the people who actually knew how to farm and gave the land to others who did nothing with it).  You don't find much news about Zimbabwe lately, but looks like it's in really bad trouble. I put some of the most important parts in red type.   😢😢😢

Economic Collapse Imminent: Zimbabwe At 'Tipping Point' With 'Wheels Coming Off' 

by Tyler Durden

Tue, 08/06/2019 - 11:35

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Zimbabwe's economic situation will continue to sour in 2H19 due to unfavorable weather conditions, foreign currency shortages and widespread power cuts, its finance minister said, as he responded to a deteriorating economic outlook by blacking out inflation statistics through the second half, and finally acknowledged what the International Monetary Fund told him in April: economic turmoil ahead.

Prices of essential goods and services have, in some cases, quadrupled this summer, due to the government renaming the RTGS currency as the Zimbabwe dollar, which has been on a rapid decline amid shortages, including electrical power, petrol products, American dollars, and food, reported Bloomberg.

 

Many Zimbabweans who supported the toppling of decades-long ruler Robert Mugabe two years ago are discovering that their economic situation is the most serious in a decade.

 

 

Emmerson Mnangagwa replaced Mugabe in 2017, he promised millions of Zimbabweans of an economic revival and that we are "open for business." The sugar high of optimism only lasted for a short time; the effects of money supply expansion through the sale of Treasury bills under Mugabe's rule has outweighed any positive advancements in the last several years. Mnangagwa outlawed the American dollar in favor of local currency that can't be traded internationally, effectively making it extremely difficult for international firms to do business in the African country.

"Zimbabwe is at a tipping point and if it falls over the edge it's going to be quite a long way in coming back," said Derek Matyszak, a Zimbabwe-based research consultant for South Africa's Institute for Security Studies. "The wheels are falling off. There is no way out of a Ponzi scheme other than a massive infusion of cash to pay off your creditors."
*chart

 

Zimbabwe isn't the only country suspending its inflation statistics for the next six months. Venezuela has also done the same, after inflation in the South American country printed a red hot 1,698,488% in 2018. Zimbabwean officials need to collect comparable data since the introduction of the new currency in February. The last time this happened, it was 2009, when the country dropped the Zimbabwe dollar in support of American dollars after inflation climbed to 500 billion percent.

 

Steve H. Hanke, a professor of applied economics at the Johns Hopkins University in Baltimore, told Bloomberg that if the black-market exchange rate is used, Zimbabwe's annual inflation rate is 558%, three times more than the official rate published by the government.

 

Jee-A van der Linde, an economist at NKC African Economics in Paarl, South Africa, said abandoning the official annual rate is "no real loss from an analytical perspective," adding that "these elevated inflation readings did little more than create panic and damage what little confidence was left."

Countries that are in crisis tend to halt the publication of inflation data. In 2013, the IMF condemned Argentina for manipulating its inflation data.

The dollar peg was dropped in February, and the return of the Zimbabwe dollar in June has led to the rapid depreciation of the currency officially trading at 9.0347 to the dollar on Aug. 6.

The government has said it had no other alternative but to reintroduce its own currency amid foreign-currency shortages, something that Hanke objects.

"The Achilles heel is the introduction of the new currency to the exclusion of the dollar," he said. "They have decided to go in the completely opposite direction and claimed it's the best thing since sliced bread and it's going to be an absolute disaster."

Japhet Moyo, secretary-general of the Zimbabwe Congress of Trade Unions, has warned that cost of essential services jumped 400% this year while pay has risen only by 10%. This has left many millions of people broke and starving.

About 59% of rural Zimbabweans, or about 5.5 million people, don't have food, a new report by the United Nations and aid groups said last month.

ZimLive@zimlive

 

 

#RECAP These military trucks and buses have been delivered to Zimbabwe - a country that has no food to feed 5.5m people hit by drought; a country that has no electricity, fuel, bread and medicines. A country whose leader urges citizens to take the pain while flying private jets

 

 

268

6:53 PM - Jul 25, 2019

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It's entirely possible that the return of street protests over collapsing economic conditions could flare-up in the coming months as there is only so much Zimbabweans will tolerate before an outright economic collapse. 

https://www.zerohedge.com/news/2019-08-06/economic-collapse-imminent-zimbabwe-tipping-point-wheels-coming