Zig’s Place

Zig’s Place Chatroom News Early Wednesday 9-1-21

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

Butterfly   https://ninanews.com/Website/News/Details?key=924925 ….

The decline in the prices of the OPEC oil basket …… Wednesday 01 September 2021…… The prices of the OPEC oil basket fell, today, Wednesday, to reach $71 per barrel.

And the Organization of / OPEC / stated in a report: “The price of crude fell by 0.45 US dollars to reach 71.45 dollars, compared to the day before, when the price reached 71.88 dollars.”

International oil prices fluctuated between decline and rise as a result of being affected by production factors in America and the OPEC agreement on production.

The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of: Sahara Mix (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Light (Gabon), Iran Heavy (Iran), Basra Light (Iraq) ), Kuwait Export (Kuwait), S Sidr (Libya), Pony Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE), and Miri (Venezuela).

butterfly   There ya go Doug_W up and down syndrome with OPEC.

butterfly   https://ninanews.com/Website/News/Details?key=924919 ………………

The Ministry of Oil: (6) billion and (533) million dollars, revenues achieved for the month of August, expanded

butterfly   https://ninanews.com/Website/News/Details?key=924888 …………………….

Al-Amiri to / Nina /: There will be no foreign forces in Iraq at the end of this year, regardless of their nationality

Wednesday 01 September 2021 11:19

butterfly   https://www.iraq-businessnews.com/2021/09/01/opening-of-village-dairy-centers-for-milk-processing/ ……… Opening of Village Dairy Centers for Milk Processing

butterfly   https://www.iraq-businessnews.com/2021/09/01/nokia-to-build-asiacells-next-gen-microwave-network-in-iraq/ ……… Nokia to build Asiacell’s Next-Gen Microwave Network in Iraq

butterfly   https://www.iraq-businessnews.com/2021/09/01/iraq-ratifies-mauritius-convention-on-transparency/ ………. Iraq ratifies Mauritius Convention on Transparency

butterfly   https://www.shafaq.com/en/Economy/CBI-sales-in-the-currency-auction-decline-on-Wednesday …………. CBI sales in the currency auction decline on Wednesday ………… The Central Bank of Iraq (CBI) auctioned more than $223 million in foreign currency today, Wednesday.

Shafaq News Agency correspondent said that CBI’s sales of foreign currency in today’s auction amounted to $223,786,534, down by 6.3% compared to yesterday’s $238,930,627.

Our correspondent explained that 14 banks and 20 exchange companies cashed $44.42 million, while the $179,546,534 went to boost funds abroad in the form of credit and non-cash transactions, with 36 banks meeting those demands.

butterfly   THIS IS PART OF WHAT WE HAVE BEEN LOOKING FOR: ….. https://www.shafaq.com/en/Iraq-News/Iraq-to-fulfill-its-obligation-to-Kuwait-by-the-end-of-next-year ……………. Iraq to fulfill its obligation to Kuwait by the end of next year ……. 2021-09-01 05:29

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed that Iraq would fulfill all its obligations to Kuwait on compensation for the 1990-91 invasion.

Salih said in an interview with Shafaq News Agency, “Deducting 3% of the cost of each barrel exported abroad as compensation for the Kuwait war will end next year, the remaining amount is not more than one billion dollars.”

It is worth noting that Iraq stopped making payments in 2014 during the war against ISIS, which controlled a third of the country but resumed in 2018, and now, 3% of oil export revenues go to Kuwait.

Under the United Nations Compensation Commission (UNCC), Kuwait and Iraq agreed that payments would gradually increase from 0.5 percent of Iraqi oil proceeds in 2018 to 1.5 percent in 2019 and 3 percent in both 2020 and 2021.

Located in Villa La Pelouse within United Nations Office in Geneva, Switzerland., UNCC was created to process claims and pay compensation for losses and damage suffered due to Iraq’s unlawful invasion and occupation of Kuwait in 1990-91.

Sheila   IMHO, Lynette continues to provide basis for moving into metals as part of sound financial foundation. Video: RESET PATTERNS APPEAR…HEADLINE NEWS with LYNETTE ZANG: https://www.youtube.com/watch?v=K_hHXtzWd9s

Dave   butterfly Too think less than a Billion to go….CBI could write a check tomorrow….then enter the global stage in having a globally traded currency… the news regarding private investment laws still aint done…… Invest in that?

butterfly   Dave No matter how we look at it, or hope the hell things would change, but as I remember it was going to be 2022 to finish paying off Kuwait. That would be one step that needs to be done, but there are others. They, of late, have shown they are asking for investors of other countries. That will take time also. As the IMF stated, they don’t look for anything to happen, in stability, with Iraq until 2024.

Dave   Baghdad conference……Like that Kuwati conference…….Now have White Paper……no ink on that yet

butterfly   Iraqi government to begin implementation phase of the White Paper for Economic Reform

15 Feb 2021 – 3:55 pm https://gds.gov.iq/iraqi-government-to-begin-implementation-phase-of-the-white-paper-for-economic-reform/

butterfly  That is the latest I’ve found and posted before about the white paper.

Dave   To Begin….future tense

Dave  too think that White paper almost 1 yr old now

butterfly   Here is the English version of the White Paper ………….. https://www.iraq-businessnews.com/wp-content/uploads/2021/01/Iraq-White-Paper-English-version-Oct.-2020.pdf

Dave  …..,.and yet Maliki…running again…..ARRG

Dave   #1 priority of this paper to eliminate corruption

butterfly   Here is the summary version in English: ………….. https://www.iraq-businessnews.com/2020/11/05/english-language-summary-of-iraqs-white-paper/

butterfly   Dave of course he is. He has made billions, so why not stop when it is so easy to make that much money.

butterfly  https://www.dailysabah.com/mideast/2015/10/28/500-billion-dollars-stolen-under-maliki-rule-in-iraq-official ……………… 500 billion dollars stolen under Maliki rule in Iraq: official

Dave  Man….Biden makes 500K/yr

Dave  heard as high as 780 Billion

butterfly  I may be wrong but I believe all presidents make 400K.

Dave  what ever happened to those few hundred million in frozen accounts

butterfly   Nouri Al-Maliki’s net worth is estimated to be about 40 billion US dollars. That means he is worth about 18% of Iraq’s total GDP. https://www.reddit.com/r/Iraq/comments/jd3yrm/nouri_almalikis_net_worth_is_estimated_to_be/

Dave   butterfly Forbes Magazine….64 billion

Dave   Talabani….35 billion

butterfly   That sounds right because that article is back in 2015.

Dave   Richest politicians in the World

butterfly  Here is another one that says 72B https://www.idolnetworth.com/nouri-al-maliki-net-worth-203956

Dave   Interest has accrued…..

butterfly   Dave lol

NORV   Expanding Access to Banks in Iraq: Challenges & Pathways to Reform

1/9/2021   One of the major obstacles to the development of the private sector in Iraq is the lack of access to finance to support its growth. The consensus view is that this is a consequence of Iraq’s underdeveloped banking sector, which is dominated by the state.

While this diagnosis is, to a certain extent, true, a more accurate way of framing the problem would be to say that Iraq simply does not have a banking system, at least in the way that banking is globally understood or practiced.

Iraq has institutions which are referred to as “banks” and indeed, they perform certain functions that resemble banks; however, with a few limited exceptions, Iraq’s banks do not perform the essential functions that characterize a modern banking system.

Whereas banks globally play a major role in the provision of credit and in the functioning of payment systems, banks in Iraq play second fiddle to cash. So long as cash dominates, there is little room for a robust banking sector to emerge. Examining cash dominance in addition to other challenges, this edition of the Iraq Economic Review identifies the key obstacles impeding the development of a banking sector in Iraq and considers possible pathways forward.

Cash is King: Money and the Banking Sector in Iraq – Ahmed Tabaqchali

Surviving “Off the Grid”: MSMEs and Banking in Iraq – Hamzeh al-Shadeedi

Building Trust in Iraq’s Banking Sector – Muhammad Al-Waeli

How Iraq’s Proposed Economic Reforms Would Impact Iraqi Women – Dr. Marsin Alshamary

Full Report here.. (Good read in English)

https://auis.edu.krd/iris/sites/default/files/iris_iraqeconomicreview_digital.pdf