KTFA Members "News and Views" Friday 4-3-2020
KTFA:
Samson: TRADE BANK OF IRAQ
2nd April, 2020 Translation.....
As per the instructions of the Central Bank of Iraq, go to the use of electronic payment tools in financial transactions and avoid dealing in cash in order to preserve public health.
The management of the Iraqi Trade Bank decided, or that the commissions be smaller for the citizen and the merchant when using the bank cards through all point of sale (POS) devices in all the commercial centers in support of the current stage. LINK
Eagle1968: With the sudden demand in toilet psper, I have decided to go out and obtain as much as possible. Then, I should be able to use the stash as a new sort of crypto currency. I think I will call it: BUTTCOIN! Have a good day family.
************
Samson: A new "Marshall Plan" to save Europe from Corona
2nd April, 2020
European Commission President Ursula von der Leyn announced a plan to tackle the unemployment crisis in Europe on Thursday, against the backdrop of the crisis facing European countries after the outbreak of the new Corona virus (Covid 19)
According to the von der Leyen plan, the European Union "will raise 100 billion euros" in government loans, adding that these loans will help member states "to enhance their short-term action plans
The European Commission president said that this plan comes within the framework of "European solidarity", as the continent was affected in varying ways by the global epidemic
The plan will include financing loans to member states, "a statement by the European Commission said
Ursula von der Leyn explained that the next EU budget should take the form of a new "Marshall Plan" to help Europe recover from the Corona virus crisis
Von der Lein made the remarks shortly after French Finance Minister Bruno Lemerre said that Europe should "use all existing tools" at its disposal to tackle the economic crisis caused by the Corona virus pandemic
The French finance minister said he supported the activation of the European stability mechanism "on light terms and without stigma on any country", and suggested "new funding from the European Central Bank with a total value of about 200 billion euros
The Marshall Plan, an initiative launched by former US Secretary of State George Marshall, to help European countries rebuild what was destroyed by the Second World War and rebuild their economies, by providing in-kind and cash assistance in addition to a package of long-term loans LINK
************
Don961: The Iraqi dinar collapses against the dollar and urgent demands to rectify the matter .. What is the role of the Central Bank?
2020-04-01
Yassin Iraq: Baghdad
The popular and economic circles in Iraq panicked today, Wednesday, because of the record high dollar in front of the Iraqi dinar, as it reached in some areas to 126 thousand dinars against the 100 Iraqi dollars, while questions were raised about the role of the central bank in that.
And the local media reported, the high dollar exchange rate against the Iraqi dinar, while some regions recorded 126 thousand dinars in front of a class of 100 US dollars, after it was 123 thousand dinars, when the markets opened.
Media outlets reported that "the rise in the price of the dollar is due to the crisis in the spread of corona and the closure of the central bank."
Security and political expert Fadel Abu Ragheef wrote, in a tweet monitored by "Yassin Iraq" that "the Iraqi dinar" begins with the deterioration of the dollar's rise, "considering that" the security, social and living situation is linked to the economic situation, and the central bank must act immediately and urgently to pump more dollars to control the rise of the reprehensible dollar. "
He emphasized that "the poor are the first to be affected by the Iraqi dinar, the matter must be addressed immediately."
Fadel Abu Ragheef @ fadhil_abu_ragh The Iraqi dinar begins to deteriorate with the rise of the dollar, the security, social and living situation is linked to the economic situation, and the central bank must immediately and by urgent action to pump more dollars to control the rise of the dollar, the poor first to be affected by the decline of the Iraqi dinar, the matter should be addressed immediately .
Sources emphasized that "the central bank was pumping large amounts of dollars daily, but it is not as usual and because of the Corona virus crisis it reduced pumping, as the government allowed banking shops to open for two days a week and only very specific times in some regions, which raised the exchange rate of the dollar."
The "balance" must continue
For his part, the economic expert, Amer Al-Jawahery, revealed the reason for the high exchange rates of the dollar against the dinar, while stressing the need for the central bank to continue pumping more dollars to the market, and for fear of the weak incoming from the dollar to the bank due to the low oil prices.
Al-Jawahiri affirmed in an interview with “Yas Iraq” that the central bank should continue to pump the dollar to the market and maintain this balance. Difficult to the country, but there is stock and I am afraid of this step. ”
And Al-Jawahiri pointed out that "one of the reasons for the dollar's rise is the widespread fear in the country of the economic crisis, as well as the transfer of some of its money out of the country by the dollar." link
Samson: Private banks in Erbil resume work and specify dealing in dollars and dinars
2nd April, 2020
On Wednesday, private banks in the governorate of Erbil, the capital of the Kurdistan Region, were resumed at work, and while the reviews witnessed great crowds, the return of patronage and favoritism cases was noted.
The "Shafaq News" reporter said, "The civil banks in Erbil today resumed official working hours in the midst of crowded auditors," noting that "the Iraqi Commercial Bank in Irbil witnessed great crowds and according to the instructions, his administration has entered all five auditors with each other."
He added, "This created a kind of grumbling, and also witnessed cases of patronage and cronyism, and the entry of some deputies without the obligation to wait until their role comes."
And that the bank’s administration spent the sums to the citizens by 75% in dollars and 25% in the Iraqi currency.
Private banks have stopped working since March 18, last year because of the curfew announced by the Iraqi government in the capital, Baghdad, and applied by other provinces, as well as in the Kodestan region, due to the outbreak of the Corona virus. LINK
Giants: IMO... CBI is about to float their currency. There is an article in Bagdad Today that has a comment from the finance committee that states the CBI has stopped the flow of the dollar and has every intention to float their currency to fill part of the budget deficit and the needs of the government. BOOM!!!! IMO.....More news is coming out a bout what the CBI is about to do and it's coming from Parliment's Finance Committee.
MilitiaMan: Now think about this.. There is a suggestion above they are talking about that they are going to float their currency? Not at a program rate they are not.. imo!!!
Well, lets look at the cronyism going on in Erbil. Why would they be having patronage and cronyism over something at a program rate? They wouldn't imo.
How many denominations are they going to have in NSCNs? What do they mean by 5 auditors with each other? Could they be talking about notes with more value? Lets say they can pay 75% in USD "(value ratio to the Dinar, as they don't want to use the reserves so it will cost you more to get the Dollar.)" for 100% pay in of their dinar payroll or they can get all Dinar with only them only needing 25% of that amount, as in the rate may possibly be in the 3x the USD ratio they offer of 75%? That would attract the cronnies.
They would be like wanting to be first in line to get theirs (greedy). Step aside, let me in!! I know so and so.. lol.. imo lol Some things to think about.. imo ~ MM
**************
Don961: Scientists discover a drug "destroys the Corona virus in 48 hours"
2020-04-04
Yassin Iraq: Baghdad
An anti-parasite drug available worldwide has shown the ability to kill the Corona virus within 48 hours in laboratories, according to Australian news site 7 News.
The site pointed out that a study of the Institute of Biomedicine at the Australian University of Monash on Ivermectin showed promising results in fighting the virus inside the laboratory.
The study found that a single dose of the drug could stop the Corona virus from growing inside the cells.
"We found that a single dose can basically remove all viral RNA (effective removal of all the genetic material of the virus) within 48 hours," explained Dr. Kylie Wagstaff.
While it is not known how the drug works against the virus, it has shown an ability to stop the virus from weakening the host cells.
The site said that the next step for scientists is to determine the correct human dose, to ensure that the level used in the laboratory is safe for humans.
"In times when we face a global pandemic and there is no approved treatment, if we have a compound already available all over the world, it might help people soon," said Dr. Wagstaff.
The drug has been approved by the FDA as an anti-parasite, and has also been shown to be effective in the laboratory against viruses including HIV, dengue and influenza.
The study is a joint work of the Monash Institute of Biomedicine and the Peter Doherty Institute for Infection and Immunology, and the results of the study were published in the journal Antiviral Research.