KTFA Members "News and Views" Thursday Afternoon 1-16-2020
KTFA:
2Cents: Frank asked us to discuss. "What if there is a date for the stoppage of the 'auctions'?"........
It was my understanding from the Monday CC that there is "insistence" to stop the USD Sales by a specific date. This was stated by WS via text and further "as of two days ago". This date is still unknown but that WS and associates are "narrowing" in on this date. Frank also states that he anticipates this date will be known within the next few days........
Why would Frank want us to discuss "What if" there is a date? Would this not challenge the report from WS? Based on WS, there IS a date already given and it was given approximately last Saturday....
Is there a firm specific DATE or not? Is this Date the "specific" date or an "on, or by" date?????
What date is logical? Reportedly, notice was given on January 11. For such a drastic change, would a 30 day Notice be appropriate? This would take us to Mid February. We believe the extension given to Iraq to bypass US sanctions on Iran expires on February 15. Would this be a logical "on, or by date"?
Or, as the Sales continue to be at near record levels, does the Trump Team want an end much sooner? After all, the specific avenue and characters involved in the corruption of the Currency Sales were starting to be exposed to the public yesterday.
Clearly, the investigation has been occurring for a period of time prior to yesterday. It is not characteristic of the Trump Team to announce what they are going to do but rather, what they have been doing. They like setting the stage to allow the rats to expose themselves. They then start to slowly educate the public at large as to what is about to come.
Bottom line, I strongly believe that all involved in the corruption of the Currency Sales are now already known and they can no longer take measures to cover-up their actions. If that is the case, it it were me, I would shut down the money flow ASAP........ After all, we know that the CBI has reportedly put all in place to make the move....
I would give a 7-day Notice!!!!!!
Tony777: 2cents, that is what I call "A detailed dissection" of last night's info from Frank26. There is definitely a "sense of urgency" IMO to accomplish what is needed; 2020 Budget is ready & headed to Parliament, stoppage of the auctions, choking off Iran's ability to secure dollars, selection of a new prime minister, meet the needs of the protestors, attack the corruption, including prosecute & confiscate moveable & immovable property, finish cleaning up the corruption in the CBI (5-7 days old) & reinstate the rate!!!
2Cents: I agree on "sense of urgency"......Look at the US........Impeachment finally moves, China Deal signed, Religious Freedom signed, USMCA vote taking place now......Everyone (except anti-Trumpers) state the economy is set to explode in 2020......Is the table perfectly set for what happens to the economy after the RD/RV and RI occurs???? I think so!!!
Not to mention JA reportedly may testify in the US in February, Declas coming, 140,000+ sealed indictments staged to be unsealed, Durham report coming, "Unknown prosecutor inspector general" about to be made visible, Barr getting ready, Troops sent to beef up Gitmo......
Not to mention Iran reportedly cleaning house behind the scenes, CIA black ops being cleared from Iran and ME, funding about to be shut down......
The increased pace is palpable.......292 days to election.......hold on to your seats and enjoy the ride. I just hope we can all enjoy it with our many new toys, total financial security and enjoying our new ability to give to and help others......
DCDriver: It would be a heck of a State of the Union address. Trump could tout paying off the National debt. Just a thought (smile)
Mr.Harfax: I can't help but think the announcement of the PM needs to tie in with this narrative. It fits the concept of the citizens taking the country back from the corrupt. Their peaceful persistence results in a win in the GOI and a change in the behavior from the CBI.
2Cents: And........An article today states "early next week" and there is a name "all agree upon"......I am not holding my breath but it would seem to be well overdue
Mr.Harfax: Which technically could be Sunday but given how they proceed historically I'm not overly optimistic we are that close (not this weekend). I'm basically waiting for a PM announcement and an auction announcement at the moment. Certainly can change but those of the big ones on my list.
2Cents: And, IMO, the Protestors are giving a Sunday deadline to name the new PM or face severe escalatory measures on Monday.......They have spent this week getting organized between Baghdad, Dhi Qar and the rest of the provinces.......
CoCo: If it's a 7 day window, that would be this upcoming 3 day weekend (Martin Luther King, Jr. Day) here in the U.S. If it's a 30 day window, that could be another 3 day weekend (President's Day). Time will tell.
**********************
Samson: Al-Attar reveals the importance of the Financial Management Law and its link to the budget
15th January, 2020
A member of the Iraqi Economic Council, Ghadeer Al-Attar, revealed on Wednesday the importance of the new financial management law recently passed by the parliament.
Al-Attar said in a statement received by / Mawazine News / a copy of it, "The Financial Management Law aims to regulate the rules and procedures governing financial and accounting management in the field of planning, preparation, implementation, control and audit of the federal public budget." He added, "The law will direct all federal revenues to the public treasury to cover public expenditures, determine the internal control units' link in administrative and technical terms, establish mechanisms related to budget implementation, the commitment of each implementing agency, and determine the responsibility of the Ministry of Finance in the implementation phase."
Al-Attar pointed out that "through the Financial Management Law, it will be possible to set specific dates to present the final accounts and adhere to the principles of the budget (budget transparency, budget comprehensiveness, budget unity, annual budget and non-allocation) when preparing and implementing the federal public budget and related matters in a manner that ensures the achievement of macroeconomic stability and financial stability Strengthening the allocation of budget resources, improving the efficiency and effectiveness of spending, ensuring optimal cash management and improving the quality of budget information provided to the House of Representatives and public opinion.” The Iraqi Council of Representatives voted in its session on (13-January-2020) to amend the Financial Management Law. LINK
********************
Samson: The caretaker government confirms that the Basra Oil Manager has 31 corruption cases against him
16th January, 2020
Criticized MP Alia Nassif, on Thursday, strongly that the caretaker government installed some of the corrupt in the position of general manager, among them the general manager of the Southern Oil Company, which has 31 cases in the Integrity Commission, stating that private grades are sold and bought millions of dollars in deals that are held Among party personalities, and whoever buys a position for twenty-two million dollars, this means that he will receive in return amounts equivalent to the state budget.
Nassif said, in a statement received by / Mawazine News / a copy of it, that "the caretaker government installed a number of people in the private grades despite the presence of corruption files and investigations related to them in the Integrity Commission, including the general manager of the General Company for Hydraulic Industries in the Ministry of Industry, and a general manager Basra Oil Company, a subsidiary of the Ministry of Oil, which has 31 cases in the Integrity Commission, after distributing $ 22 million to corrupt party figures.
Nassif pointed out, "Among the many corruption files that belong to the director of the Basra Oil Company, corruption and manipulation in the operation and maintenance contract for public ports, the disbursement of six billion dinars without legal bond, waste ($ 4 and a half billion) in favor of Shell, and corruption in the protection project Warehouses and pipelines, corruption in armored cars in the Basra Oil Company, corruption in the housing of oil port workers, the placement of company cars to parties and personalities, corruption in the Italian Perissa contract, corruption in the contract to transport and treat oil waste, and the list goes on, in short, this person is only a model for whales Corruption who buy the job in millions Dollars to earn billions of dollars and each one of them valued his wealth with a state budget."
And she added, "The caretaker government should back down from its (false) decisions in installing these people, and the Integrity, Judicial and Prosecution Authority should expedite the resolution of these cases and the prosecution and accountability of those involved." LINK
**************
StephenMac63: "Where does it say in the Trade Agreement about Currencies?"
Section 5, which reads as: Article 5.1: General Provisions
1. Each Party shall respect the other Party’s autonomy in monetary policy, in accordance
with its domestic law.
2. The Parties recognize that strong fundamentals, sound policies, and a resilient
international monetary system are essential to the stability of exchange rates, contributing to
strong and sustainable growth and investment. Flexible exchange rates, where feasible, can
serve as a shock absorber.
3. The Parties share the objective of pursuing policies that strengthen underlying economic
fundamentals, foster growth and transparency, and avoid unsustainable external imbalances.
4. The Parties shall honor currency-related commitments each has undertaken in G20
communiqués, including to refrain from competitive devaluations and the targeting of exchange
rates for competitive purposes.
Article 5.2: Exchange Rate Practices
1. Each Party confirms that it is bound under the International Monetary Fund (IMF)
Articles of Agreement to avoid manipulating exchange rates or the international monetary
system in order to prevent effective balance of payments adjustment or to gain an unfair
competitive advantage.
2. Each Party should:
(a) achieve and maintain a market-determined exchange rate regime; and
(b) strengthen underlying economic fundamentals, which reinforces the conditions
for macroeconomic and exchange rate stability.
5-2
3. The Parties shall refrain from competitive devaluations and not target exchange rates for
competitive purposes, including through large-scale, persistent, one-sided intervention in
exchange markets.
4. The Parties will communicate regularly and consult on foreign exchange markets,
activities, and policies. The Parties will consult with each other regarding the IMF’s assessment
of the exchange rate of each Party.
Article 5.3: Transparency
1. The Parties affirm that they shall continue to disclose publicly within the prescribed
timeframes below:
(a) monthly foreign exchange reserves data and forward positions according to the
IMF’s Data Template on International Reserves and Foreign Currency Liquidity,
no later than 30 days after the end of each month;
(b) quarterly balance of payments for the sub-components of the financial account,
including direct investment, portfolio investment, and other investment (loans and
receivables), no later than 90 days after the end of each quarter; and
(c) quarterly exports and imports of goods and services, no later than 90 days after
the end of each quarter.
2. The Parties reaffirm and shall continue to consent to the public disclosure by the IMF of:
(a) each IMF Article IV Staff Report on the country of the Party, including the
exchange rate assessment, within four weeks of the IMF Executive Board
discussion; and
(b) confirmation of the Party’s participation in the IMF COFER database.
3. If the IMF does not disclose publicly any items listed in paragraph 2 with respect to a
Party, that Party shall request that the IMF disclose publicly those items.
Article 5.4: Enforcement Mechanism
1. Issues related to exchange rate policy or transparency shall be referred by either the U.S.
Secretary of the Treasury or the Governor of the People’s Bank of China to the Bilateral
Evaluation and Dispute Resolution Arrangement established in Chapter 7 (Bilateral Evaluation
5-3 and Dispute Resolution).
2. If there is failure to arrive at a mutually satisfactory resolution under the Bilateral
Evaluation and Dispute Resolution Arrangement, the U.S. Secretary of the Treasury or the
Governor of the People’s Bank of China may also request that the IMF, consistent with its
mandate:
(a) undertake rigorous surveillance of the macroeconomic and exchange rate policies
and data transparency and reporting policies of the requested Party; or
(b) initiate formal consultations and provide input, as appropriate.