Delta, MilitiaMan and KTFA Members Wednesday PM 10-18-2020

KTFA:

DELTA:  THANK YOU SAMSON FOR YOUR AMAZING HARD WORK..........CAN YOU SAY DELETING ZEROS.....ELECTRONICALLY ..........

Samson:  The central bank enables direct transfer of funds between electronic cards

28th October, 2020

In pursuit of implementing its strategy of shifting towards electronic payment, the Central Bank of Iraq confirms that banks that issue electronic cards and providers of electronic payment services have adopted the service of financial transfers between electronic cards (from one card to another), provided that the transfer ceiling for one time does not exceed (400) thousand dinars or equivalent. In US dollars, while the limits of the amounts transferred during one month will reach (2) million dinars or its equivalent in US dollars.

The Central Bank of Iraq
Media Office
October 28, 2020  

Delta:  THANK YOU BROTHER DON FOR THE AMAZING WORK...........VERY CRYSTAL CLEAR FAMILY LIKE WE SAID ALL THE TIME.......IMF AKA USA..CONTROL THE EXCHANGE RATE OF IRAQ.......NO DEVALUE PERIOD.....RV ALL THE WAY......

Don961:  A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?

2020-10-27 Yes Iraq – Baghdad

The expert in economic affairs, Salam Sumaisem, confirmed that the devaluation of the Iraqi dinar will reflect negatively on the citizen and will lead to an inflationary problem as a result of a new force hitting the Iraqi economy at home as a result of the high prices of consumer foodstuffs that are in demand and this great demand will lead to higher prices.

Sumaisem said, in statements to her, monitored by "Yes Iraq": "The government is facing a great challenge, which is to provide funds with which to pay public expenditures, and this money is necessary to provide it. Reducing the value of the dinar will provide it with that, but on the other hand it will generate inflationary pressure on the citizens, since the devaluation of the dinar will be "This will lead to a rise in the prices of consumer foodstuffs that are in demand, and this great demand will lead to a rise in prices and an inflationary problem as a result of a new force hitting the Iraqi economy at home."

She explained that “the government is obligated to this reduction, (less three zeros, imo~ MM)  and these changes will be in light of the state’s need for financial resources and the increasing need to pay the salaries of employees. At the same time, an austerity plan must follow that reduces the waste of the dinar and try to find a feasible way of spending so that the situation is not lost in a situation with this laxity in paying salaries.” “.

The economic expert stressed the need to eliminate the leakage outlets represented by the aliens, the multi-salary, the mafias and the networks of corruption, stressing that without that any reform or reduction ,will not succeed.

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@SalamSmeasim لا اتوقع ان يقوم #العراق بطباعة العملة العراقية #بدون_غطاء لان الامر سيكون ضربة قاضية لل #دينارالعراقي و هذا امر مرفوض وفق ارتباطاتنا ب #صندوق_النقد_الدولي ولان #الدينار_العراقي الان ضمن العملات المطروحة في البورصات العالمية و ليس كوقت الحصار ، الوضع مختلف تماما.

Translated from Arabic by

I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي
Now within the currencies

offered on the global stock exchanges,  (now, imo ~!MM) not like the time of the blockade, the situation is completely different.
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Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

And I concluded, that this is unacceptable according to our links with the International Monetary Fund and because the Iraqi dinar is now among the currencies offered on the global stock exchanges, not like the time of the siege and the world's boycott of the Iraqi government, the situation is completely different. link

MilitiaMan:  The above depicts that there was a mention of the cover and offer in exchange markets. They are now even being suggested again, as noted above to now be openly and notoriously exposed, as being Globally traded (latent as it may be). 

 Suggesting with out a reduction in the exchange rate (reduction of zeros), the process will not succeed, yet they are behind the scenes now offering the Dinar on global stock exchanges, different than before.. 

When it was mentioned on this past 25th, it may have not grabbed as much attention to many, as it may now or even just for today. But, be sure it was noticed and the good expert sees fit to reiterate it with a gusto.. lol .. imo..

The latent behavior is allowed imo, when the numbers are sensitive in nature leading to the end result of an exchange rate change. IMF allowed? Yep, imo. Which is not a devaluation, it is a re-instatement to the past and even possibly the Glory Days.. imo. ~ MM 

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A video of the Central Bank of counting and sorting the Iraqi currency and destroying it

20th October, 2020   VIDEO LINK

MilitiaMan:  Why destroy currency if the new currency wasn't to be worth more? You don't. They already printed new small category notes that will need to be covered by value. imo. Hence they are still sorting and even destroying the old or future obsolete notes. New notes to coincide with the old are already in print, the rate to establish the foundation of future trading globally is at hand.. imo. 10/25/2020 ~ MM (edit)

Samson:  Representative Finance: The borrowing to secure salaries will be internal

18:22 - 10/28/2020

The Parliamentary Finance Committee confirmed, on Wednesday, that borrowing will be internally from government banks and the Central Bank, attributing the matter to the existence of foreign debts on Iraq and its inability to borrow.

A member of the Parliamentary Finance Committee, Jamal Joker, said to / the information / the committee hosted today the advanced cadre of the Ministry of Finance, including the minister, to view the details of the loan amount and the actual disbursement doors for those required numbers.

He added that "after its amendment, Parliament will proceed to approve the law on the loan, but with an internal loan," noting that "the approval will be preceded by an inquiry from government banks and the Central Bank of Iraq, the possibility of borrowing and securing those sums or not."

Cougar explained that "Iraq cannot borrow abroad because it has large debts, which will push it to internal borrowing."  LINK

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Samson:  Trump: 10 Arab Countries Are Going To Normalize

28th October, 2020

US President Donald Trump announced that about nine or ten other Arab countries are ready for normalization with Israel, without revealing a specific timetable.

Trump told reporters, referring to the Arab world: “We will have a lot. We are doing a lot of work now.”

He added, “Beauty is peace in the Middle East, without money or blood. There is no blood on the sand, and this happens.

It is noteworthy that Israel recently signed a historic peace agreement with the UAE and two normalization agreements with Bahrain and Sudan, in the first diplomatic development between Israel and the Arab countries since the peace agreement with Jordan 26 years ago.   LINK

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Samson:  Turkey is drowning in "debt chaos" ... and a record number for bankrupt companies

28th October, 2020

The indicators of the collapse of the Turkish economy did not stop when the local currency declined to its worst level, as it appears that the country's foreign office has reached unprecedented levels, while more than 10 thousand companies have closed their doors since the beginning of this year.

The Turkish "Zaman" newspaper reported that Turkey's foreign debts rose to 1.9 trillion pounds during the 18 years of justice and development rule, after it was estimated at 243 billion pounds only in 2002, when the party took over the rule of Turkey. Among these debts are 817.9 billion liras in the Turkish lira category and 1 trillion and 44 billion liras in the foreign currency category. What is striking in the report prepared by the opposition Republican People's Party is the insane borrowing of the AKP government, as the report reflects the high ratio of public debt to national income to 42 percent.

As of September of this year, the public debt reached 1 trillion and 863 billion liras, of which 1 trillion and 44 billion liras are in the foreign currency category, which represents 56 percent of the total debt. The report added that the Turkish government borrowed nearly half a trillion pounds during the first nine months of this year, indicating that Turkey's public debt amounted to 7 times what it was during the 18 years of justice and development rule. These negative results led to severe criticism against the Turkish treasury minister, and President Recep Tayyip Erdogan's son-in-law, Berat Albayrak, who said that he does not care about the foreign currency index against the lira, “Turkey’s debts are increasing with the currency index increasing.

According to the Turkish Treasury and Finance Ministry, a total of Turkey's external debt is $ 421.8 billion this year, while its net debt reached $ 244.4 billion, or about one trillion Turkish liras. The Turkish lira had achieved the worst level, Tuesday, since 1999, reaching 8.13 against the US dollar. In the same context, the number of companies that were liquidated during the first nine months of this year in Turkey broke the record by exceeding the number of 10,000 companies, and last September alone it closed 1582 companies.

According to the Turkish Federation of Chambers and Exchanges, 10 thousand 453 companies closed in the first nine months of 2020, while the number of companies that closed in the first nine months of last year was 9,385, indicating an increase of 11 percent from last year. Turkish companies face great challenges in light of the grinding economic crisis that the country is going through nearly two years ago, and what made their situation more severe is the crisis of the Coronavirus epidemic, so the last resort for them was to reschedule their debts in an attempt to escape from bankruptcy.

In Turkey, the number of companies that closed steadily has increased since 2015. It is noteworthy that 1808 out of 10,000 453 companies closed in the period from January to September were joint-stock companies. Among the joint-stock companies, most of them were involved in the electric power production sector, residential and non-residential building construction, and technical consulting for engineering activities.

 Recently, the weekly report of the Banking Sector Regulatory and Supervision Committee revealed that the value of receivables owed by companies in Turkey as of October 9 increased to 132 billion and 207 million Turkish liras, while the previous week was only 131 billion and 322 million. Economists predict that the coming period will witness more companies announcing their inability to pay their scheduled debts in light of the turmoil of the lira's exchange rate against foreign currencies. 

Despite resorting to the option of rescheduling debts, through a request for “bankruptcy settlement”, a number of companies declared their inability to repay debts even after they were scheduled.  LINK