Home
[size=30]Frank, MilitiaMan and KTFA Members Friday PM "China Syndrome" 5-15-2020[/size]
KTFA:Frank26: THIS IS WHAT OUR FF SAW ........ TOO BAD SOME DON'T UNDERSTAND THIS ..... THAT'S MY 3RD SENSE ......(smile)
Don961: Parliamentary source: Al-Kazemi's government will print the currency to pay employee salaries
Thursday 14 May 2020 | 3:30 pm Baghdad / ...
Parliamentary source confirmed, Thursday, that the government of Prime Minister Mustafa Al-Kazemi will go to print a new local currency in order to pay the salaries of employees.
The source said to "Eye of Iraq News", "This measure is one of the solutions to overcome this economic crisis that is ravaging the country, so it is necessary to find harmless solutions for future generations such as the use of cash or gold reserves in the central bank."
He pointed out that we, "after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar," stressing that "this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices because of the high exchange rate The dinar compared to the price of currencies in Turkey, Iran and others.
"The financial advisor to the Prime Minister, Mazhar Muhammad Salih, had determined, on Wednesday, the loan disbursements that the government intends to request from home and abroad.
Saleh said in a press statement, "The government submitted a draft law to Parliament in order to authorize it to borrow from internal and external financing sources, in order to bridge the deficit and enhance public financial liquidity when necessary." And, "The borrowing came because of the financial hardship that the country is going through, and in order to bridge the revenue deficit gap against fixed expenditures, especially in the operating budget."
He added, "The legal cover did not provide the government with internal and external borrowing, due to the lack of a federal budget law for the year 2020." He pointed out that "internal or external loans will be included in the event of legislation for the budget for the year 2020 or its alternative the final account at the end of the fiscal year (as a reality)."
Saleh said, "External loans will go toward supporting investment projects and completing the stalled ones and the urgent need to launch them, while internal loans will be allocated towards the operational budget in the government's needs for insurance of salaries and others."
It is mentioned that the Iraqi Council of Ministers approved the draft of the domestic and foreign borrowing law to finance the fiscal deficit for the year 2020 and refer it to the parliament in accordance with the provisions of the constitutional articles. Finished LINK
OneWildRide: IMO... This is our China syndrome article. With all that's going on it's hard NOT to get excited.
Currency auctions shut down.
ISX shut down.
Three day holiday coming up.
Citizens getting paid with a new currency. Lol (lower denoms)
A new Government. (Stability)
As Frankie says "Come on man"
Even a blind man can read the writing on this wall.
I will admit it has been OneWildRide
2Cents: IMO, I have learned through the 11 years of reading translated articles, I have learned that the problem with looking at just one article is that the precise meaning is hard to glean.....Often reading just the titles is even more misleading...to find the proper meaning, many articles on the same or similar subject matter, perhaps even over weeks, must be read and put together.....
IMO, The "printing of currency" refers to what the Iranian influenced politicians are pushing........This is in essence amounts to quantitative easing, increasing the money supply and decreasing the rate of the dinar against the dollar.
They are advocating reducing the rate to 1300 or even 1400 based on the articles......This would then result in increased cost to bring in imports as it would require more IQD to purchase USD for remittances....so the National product would have more appeal as it could be sold cheaper....
This is how they are trying to "sell" that there would be benefits to the country if they would increase the money supply by just printing more money and decreasing the rate.....
lIMO, this is there last ditch effort to stop what we believe to be the inevitable and that which we hope for.....
IMSO, we certainly do not want them to go down the path that Iran is wanting to just print more money and decrease the rate....
Frank26: CLEAR AND DIRECT OBVIOUS NEEDS NO FURTHER EXPLANATION WHEN FIRST GIVEN THE OPPORTUNITY TO DO SO. UNDERSTOOD VERY WELL IN MY SPIRIT. THANK YOU.
Samson: - I believe 2cents is referring to what we have always been told that when this is about to hit there will be conflicting news that it won't happen - a China Syndrome effect.
Purifiers: I AGREE SAMSON.... IMO, COULD THIS WELL BE "OUR"... "CHINA SYNDROME"?... THE NEGATIVE... BEFORE WE SEE THE POSITIVE??? A KODAK MOMENT... IN FILM PHOTOGRAPHY... IMO... YOU MUST HAVE A "NEGATIVE" TO CREATE A "POSITIVE"... END RESULT...A "PHOTOGRAPH" MOMENT IN TIME, OF TRUTH... CAPTURED!!! METAPHOR OR NOT... SEEMS THAT THIS ARTICLE, IS TRYING TO POINT AWAY FROM THE "OBVIOUS" IMO
Frank26: EVEN DOWN UNDER ............. UNDERSTANDS….LOL
MilitiaMan: It takes some doing to understand the key points to articles. It also takes memory of who says what and what actions have they taken to support those actions. Alak is the one who spoke of value to loans last year. Alak spoke of not devaluing the currency and that they have done a good job keeping the exchange rate stable. So if the Dinar decrease from 1190 to say 1000 or 500 or to .85, the decrease in exchange rate to the dollar brings value! By actions and data from the CBI, IMF, World Bank, UST and the above imo they are about to bring value needed and the USA specifically said they supported monetary and economic reforms. In fact the world does!!! Imo ~ MM
JJimmyJJ: It may be helpful to remember that much of the Iraqi public has a 4th grade education. So "increasing the exchange rate by giving you fewer notes of less value" may not compute.
But, "solve the financial crisis by decreasing the exchange rate" just might.
2Cents: I will pretty well be out of touch until next Thursday….IMO. Nothing "big" will occur until then......Watching and waiting for Eid......."After Eid and before the New Year" ---- Sinan al Shabbibi
2Cents: IMO, Follow and understand payroll and the procedure that has to occur by the MOF (minister of finance) and you will see that we are still at least 6 days away. What I posted is positive, not negative, as change appears imminent whether now, weeks or months away. WE have never seen Iraq move as quickly as they are under Khadimi.
"BOY (beginning of year), middle or EOY" (end of year) -----Saleh (whom I have never listened to. He has been at CBI and then economic advisor to Abadi and Mahdi. I believe he is likely DS and has engaged as many do that either want to hide the truth or really don't know the truth - "baffle them in BS")
Weak currency increases import costs and therefore theoretically people will look to National Product
Strong currency decreases import costs and theoretically turn away from National Product
Printing more money, increasing the money supply weakens the currency.
Articles state 1300, 1400
IMO, ALL IS GOOD.....Look at what has occurred in the first week of Khadimi including but not limited to
Kuwait meeting: "How do we get the donor conference money released?" Answer: "...officially be acknowledged by the US, UST, WB, UN and the IMF that you have accepted Article VIII obligations...."
So,
US ------> check, talked with DT personally
UST------> check, talked with DT personally
WB ------> check, meeting and they gave full support
UN-------> check, addressed UN and they gave full support
IMF-------> ?
It should be obvious what WE are looking for...........(it may be after the fact but WS may report, time will tell)
Samson: An economist is surprised to continue wasting huge amounts of money through the currency auction, and no action has been taken yet !! LINK
MilitiaMan: It is now FRONT and CENTER now to STOP the AUCTIONS.. Open the corruption files!! I'll bet, the new PM has already had that in the briefcase of things to do.. imo ~ MM
************
Samson: Victory Coalition: Al-Kazemi is able to establish a correct process that contributes to the introduction of new revenue for the budget
15th May, 2020
On Friday, the victory coalition affirmed the ability of the government of Prime Minister Mustafa Al-Kazemi to establish a "correct process" that would contribute to the introduction of new revenues for the budget.
The leader of the victory coalition, Aqeel al-Rudaini, told the official agency, "The biggest challenges facing the Al-Kazemi government are not only salaries, the economic situation and the Corona epidemic, but the biggest challenge is how to restore the state's prestige and win the people's trust, especially since 80% of citizens did not participate in the 2018 elections and this indicates On the existence of a hostile tendency between the political class and citizens."
He added that "the other challenge is the decline in oil prices and its impact on the economic situation," noting that "this crisis needs to develop alternative plans such as encouraging industry, agriculture, border ports and taxes, and this needs a long time, but it is possible for Al-Kazemi to establish a correct process. It is possible to introduce new revenues to the budget."
He continued, "The most important other challenge is to confine arms to the state, as there are a lot of weapons outside the scope of the state," stressing "the importance of working with two parallel lines and that there are external agreements to schedule the exit of US and Turkish forces in northern Iraq and this enables them to disarm." LINK
MilitiaMan: The country of Iraq lost their prestige in the exchange rate of the Dinar due to the conditions from the Saddam era and to now restore the prestige is to bring value back to the country via the REER applied to the currency.
Back to the Glory Days if you will. Prestige is important to currencies. Just as the British Pound lost her prestige after World War II, the opposite can occur with having mopped up the excess currency in the markets over time.
We watched a video of the CBI destroying large category notes and in massive quantities. To thus allow room for the new currency they have already printed to be introduced that will be new to the citizens.. Most are not old enough to have used the small category notes, coins or fils.. They lost their prestige and the latter went away.
Now it is time to restore the prestige with new small category noted, coins and fils.. imo.. That will bring usher in the new revenues he mentions.. Reconstruction of the country will bring many new revenues from around the world.. Big Time too. imo We are in a very sweet spot.. oh ya! The PM just leaked out the minutes of that crisis cell meeting from the looks of it.. lol imo ~ MM
MilitiaMan: The PM is speaking in terms as noted in 194 and 195 about things that will bring value.. imo.. The article i found from the WORLD BANK and the CBI about an agreement for asset portfolio management is in place. They need to RI to get international. The UNSC meeting was imo after the Crisis Cell metting with the money guys in Iraq, i.e., Minister of Planing, Minister of Finance, etc.. The PM is talking about restoring prestige and getting new sources of revenues.. Well Kuwait conference, is billions of reasons to RI.. lol imo ~ MM
*************
Samson: Lebanon is preparing for fundamental structural changes in its economy
17:30 - 05/15/2020
The Lebanese government announced today, Friday, its serious intention to reduce the number of commercial banks from 49 to about half in the country.
This was stated by the Lebanese Finance Minister, Ghazi Wazni, during an interview with "France Press", where he said: "We are ready to meet the request of the International Monetary Fund to float the exchange rate of the lira, but after receiving external support, provided that in the next stage a price Flexible exchange."
My weight said: “The IMF has always called for the liberalization of the exchange rate of the lira. They want to unify exchange rates and flotation, but the Lebanese government requested a transitional phase that passes the flexible exchange rate before we reach the flotation. ”
My weight pointed out that "we have to adjust the stabilization policy to the flexible exchange rate policy in the first stage and in the foreseeable future, and when we receive financial support from abroad we move to floatation," declaring that "the government wants to reduce the number of commercial banks numbering about 49 to about Half, as part of a reform plan that includes restructuring the banking sector.”
He explained that "the structuring of the banks will be step by step and there are several options for treatment, including consolidation, which is normal," adding "in Lebanon 49 commercial banks, and it is natural for the number to decrease to about half in the next stage."
On Friday, the Central Bank of Lebanon announced that it had made a decision to provide the US dollar for imports at an exchange rate of 3,200 Lebanese pounds, with the aim of reducing food prices.
The Reuters news agency quoted the Central Bank of Lebanon statement, which stated: “The Bank of Lebanon will continue to pump the cash dollars it acquires through banks, in order to finance the import at a price of 3,200 Lebanese pounds to the US dollar, with the aim of reducing food prices.” LINK
Don961: imo ... like Iraq ... IMF doesn't want multiple exchange rates that can be exploited by speculators and banks .. without any tangible progress being made in the lives of the citizens by messing up the REER ... with multiple exchange rates in the markets
» MilitiaMan and KTFA Members Saturday PM 1-15-2022
» Happy Birthday dcbelanger
» Federal Sets The Date For Considering The Unconstitutionality Of The First Parliament Session
» Five Issues That Summarize The Motives Behind China's Interest In Iraq
» Al-Fateh Demands The Disclosure Of The Final Accounts Of The Al-Kazemi Government
» Expert: America Is Increasing Its Forces In Agreement With Its Partners Inside Iraq
» Ambiguity surrounds the results of the meeting with Al-Amiri... and Al-Sadr undermines the hopes of
» The government's financial advisor clarifies the fate of the 2022 budget and the path of the white p
» Retirement publishes the names of the “political dismissed” ministerial orders issued to them
» What is the position of Al-Maliki's coalition regarding handing over the premiership to Al-Kazemi?
» Resolve The Dispute With Al-Sadr And Confirms: There Is No Opposition Of Our Will
» Al-Sadr rejects consensus in the Iraqi government... "Suicide"
» A directive regarding the working hours of real estate registration departments and new procedures f
» A significant decrease in dollar cash sales at the Central Bank of Iraq auction
» International Energy expects significant growth in electricity consumption in Iraq
» During 2021... non-oil revenues will rise to 12 trillion Iraqi dinars
» Central bank sales of remittances increased to more than 171 million dollars
» Civil Aviation announces the start of obligating incoming and outgoing Iraqis and foreigners to pres
» Al-Baydar: The Dispute Within The Shiite House Has Become More “Deep”
» Economist: The Government Raised The Tax Rate To 20% During 2021
» Iraq Discusses With WHO The “Corona Pandemic” File
» Iran Announces The Start Of “Transit” Shipments Of Goods To Northern Iraq
» For The Fourth Day In A Row, The Dollar Exchange Rates Are Witnessing Stability In The Local Market
» The Central Bank Increases Project Support Allocations: It Has Become 2 Trillion Dinars
» Source: The Coordination Framework Meeting Will Be Held At Al-Abadi's Home
» A Deputy Talks About A “Golden Opportunity” .. On The Framework And The Trend To Invest It
» The Effect Of "Obscene" Wealth... Parliamentary Moves To Compel Al-Halbousi To Disclose His Financia
» Contractors: Al-Kazemi Government's Policies Caused The Construction Market To Decline 40%
» The Investment Authority Reveals Housing Projects In 5 Governorates
» State Of Law: We Will Not Allow The Budget To Pass Without Changing The Dollar Exchange Rate
» Ports: Drowning Obstructs Navigation And Prevents Entry Of Large Ships
» The Effect Of "Obscene" Wealth... Parliamentary Moves To Compel Al-Halbousi To Disclose His Financia
» The Central Bank announces an increase in the allocations of its initiative to small and medium ent
» Al-Sadr's office issues a statement regarding its meeting with Al-Amiri
» Iran announces the start of “goods transit” operations directly to Iraq
» Including the restructuring of state institutions.. Proposals to end the job slackening crisis
» Specialists: There are those who seek to keep Iraq without electricity and its dependence on importe
» Experts talk about drought: Iran has completely cut off water to Iraq
» Nomination of a woman for the presidency: I seek to be the first woman to rule Iraq
» Parliament intends to activate the agricultural initiative
» Politicians: The Kurdish House is not united
» Independent MPs threaten the "absentees" with the most severe penalties
» Al-Sadr anticipates the meeting of the coordination framework and tweets: Neither eastern nor wester
» Al-Ittihad prepares for a blow below the belt to Zebari if he wins the presidency
» The Turkish Ministry of Defense announces the killing of 6 members of the "PKK organization" in the
» Candidate for the Presidency of the Republic: I seek to be the first woman to preside over Iraq
» After being targeted, the international coalition denies the presence of its forces at Balad base
» Two options have no third .. Reveal the subsequent steps of the Federal Court's decision regarding t
» Independent Deputy: The federal state order confirms that the court is above all institutions
» State of law: The framework will be the first to reject the candidacy of Zebari for the presidency o
» A representative from Basra: Integrity opened the file of selling black oil to Kurdish companies
» Barzani proposes to the Union one candidate for the presidency
» Once again, an upcoming visit of a Kurdish delegation to Baghdad
» Foreign Minister: We have returned 4 thousand Iraqis who were trapped on the Belarusian border
» The National Union: The Democratic Party has not yet decided its position on the presidential candid
» Learn about Iraq's ranking in the list of the largest oil reserves in the world
» A slight decrease in the exchange rates of the dollar in the local markets
» Trade: establishing 2,400 national companies and registering 97 foreign company branches during the
» For Al Furat News.. Al-Shabab reveals the delay in the opening of the Al-Zawra and Al-Madina stadium
» Al-Kazemi receives an official invitation to visit Lithuania
» Deputy for Al-Fateh: There are no closed doors in the world of politics
» Health: We have an abundance of Corona vaccines, and the number of vaccinators has exceeded 14 milli
» Integrity: Recruiting the Director General of the Literacy Authority for violations of the contracts
» Contradicts its laws.. Digital media: Facebook allows advertising for “witchcraft and sorcery” pages
» Karbala brings more than 3,000 foreign arrivals outside the country
» Lithuanian Foreign Minister: We will have cooperation in various fields with Iraq
» Is it possible for a woman to assume the prime ministership or the republic? .. A legal expert expla
» The Minister of Culture reveals Iraq's intention to establish a large museum
» The Ministry of Transport refrains from implementing a decision of the Council of Ministers to appoi
» Jordanian exports to Iraq increased by 2%
» This evening, the dollar fell on the Baghdad Stock Exchange
» A slight decrease in the exchange rates of the dollar in the local markets
» The Central Bank reveals an increase in the amount of its initiative to lend to small and medium ent
» MilitiaMan "What We Know" Friday Night 1-14-2022
» Economist: The Budget Of The Three Presidencies Exceeds The Budget Of An Entire Governorate
» The Ministry of Finance announces soft grants through “Al-Nahrain Islamic Bank”
» A new clarification from the Rafidain Bank about the sale of building bonds to citizens
» Al-Kazemi's advisor: Iraq has financial space at the present time
» Dollar exchange rates maintain their stability in local markets
» Secretary-General of the Council of Ministers: Inclusion of the lecturers by Resolution 315 and its
» Kurdistan budget: Baghdad has not sent any budget to the region for 8 years
» The National Union talks about the Democratic Party's "refusal" to take over "Barham Salih" as Iraq'
» How many deputies does the "largest bloc" of the Sadrist movement have?
» Officially.. Parliament opens the door for candidacy for the post of President of the Republic and s
» The US ambassador hopes to form the new Iraqi government "as soon as possible"
» Its delegation left Baghdad in anger.. Al-Sadr rejects Iranian mediation to ally with the "framework
» Did the renewal of the mandate for Al-Halbousi open the door to Saleh’s return? The National Union c
» Al-Kazemi: We have allocated more than half a million plots of land for housing in the governorates
» The Iraqi Council of Ministers takes three new decisions
» Abdul Mahdi talks about the smoke and noise of democracy after the election of the fifth parliament
» Al-Maliki, Iyad Allawi: Parliament's first session was marred by legal and constitutional violations
» Al-Kazemi assigns a new governor to Najaf... and the Sadrist movement heralds a new stage
» The Kurdistan Democratic Party nominates Hoshyar Zebari for the post of President of the Republic
» Officially.. Barham Salih is running for the second term as President of the Republic
» Documents .. The Federal Court issues a state order to stop the work of the Presidency of the Iraqi
» "The fastest government"... An informed source: Announcing the cabinet line-up next March
» Adeel "Mam Jalal Talabani" is running for president of Iraq
» Al-Halbousi receives an official invitation to visit America