KTFA Monday Night CC with Frank and Friends and more 8-17-2020
KTFA:
KTFA Monday Night CC
GREETINGS FAMILY
TONIGHT IS OUR IQD UPDATE CC WITH SPECIAL GUESTS – DELTA, MM AND PETRA!
FRANK WILL DO AN INTRO TO THE CC ON YOUTUBE JUST BEFORE THEY START THE CONFERENCE CALL. WE WILL BE RECORDING THE ENTIRE CALL ON YOUTUBE THIS EVENING.
PLAYBACK IS: 605.313.5163 PIN: 156996#
Frank26: 8-17-20.....RELAXING
8-17-20 M.R. IN THE EYE OF THE STORM
Samson: Economist: The government must use the exchange rate of the dollar to overcome the financial crisis
08:50 - 17/08/2020
The economic expert, Wissam Al-Tamimi, stressed the need to exploit the dollar exchange rate in government banks to maximize budget resources and contribute to overcoming the financial crisis, pointing out that selling millions of dollars per day enters the state huge sums after increasing the exchange rate.
Al-Timi said to / the information /, that "the dollar exchange rate witnessed stability 6 months ago from today, but it rose slightly, and this increase came after the emergence of the financial crisis in the country due to the drop in oil prices."
He added that "the increase in the exchange rate in government banks contributes to eliminating the current crisis and maximizes state resources, at a time when Iraq needs to make a boom in the banking sector."
And that "many countries depend on the banking sector in investment, achieving revenues, building budgets, launching loans and achieving benefits from them to provide the government with the necessary sums to provide the salaries of its employees." LINK
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Samson: Al-Nasiri identifies the reasons for the exit of hard currency from Iraq and suggests how to preserve it
16th August, 2020
The economic and banking advisor, Samir al-Nusiri, confirmed, on Sunday, that hard currency in Iraq is still vulnerable to leakage outside the country without return due to unplanned and uncontrolled imports of goods and consumer and unnecessary goods and of poor origin and outside the Iraqi standard specifications, revealing a set of proposals that would preserve the currency The difficult situation that Iraq needs in the current crisis it is going through
Al-Nusiri said in an interview with "Al-Eqtisad News", that "imports in every country are traded in hard currency, while in Iraq since 2003 and until now, local production has not been supported, which is the basis for determining imports," indicating that "import is complementary to local production and not As a substitute for it, but after the opening of the borders and markets, and the introduction of inferior consumer products and at low prices compared to the local product, due to the insecurity of raw materials and government support, this led to the exit of hard currency, mainly through imports of the private sector
Al-Nasiri added, "The best solution to preserving hard currency is for the government to support local production and activate the laws on protecting the domestic product and protecting the consumer, which are laws that have been on the shelves for years and have not been activated," stressing the importance of providing raw materials and electricity to the factories and structuring government factories. And the participation of the private sector in its management
And he continued, "Iraq without local products comparable to the importer cannot maintain its hard currency as required," noting "the need for the government to address the structural imbalance in the economy, activate the productive sectors and address the deficit in non-oil revenue and the deficit in the balance of payments and the trade balance
Al-Nusiri concluded his speech by saying: "We are a country. We do not have a clear economic approach, and the private sector has not been involved in making economic decisions, which requires and must meet with support from the government LINK
Samson: US National Security Adviser: Saudi Arabia Next to Normalization
10:20 - 17/08/2020
The American National Security Adviser, Robert O'Brien, confirmed that Saudi Arabia could be the next one in the normalization of relations with (Israel).
He said in a statement to "Fox News", America: "We are optimistic ... we have to see what will happen ... We are talking with a number of countries in addition to Saudi Arabia."
O'Brien affirmed the confidence of President Donald Trump's administration that a number of other countries will conclude agreements with (Israel) after announcing the normalization of relations with the UAE, praising the courage of Abu Dhabi Crown Prince Mohammed bin Zayed.
He indicated that there are talks with many other Middle Eastern countries to implement a similar peace agreement with (Israel), stressing that “Trump” has ended talks with other leaders (he did not name them) in the region about joining the agreement.
He continued, "We hope that we can build on this momentum," expressing his confidence that there are two other countries that will work to normalize relations with (Israel) soon. LINK
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Samson: Russia and China abandon the dollar in their trade
14:04 - 17/08/2020
Moscow and Beijing are moving towards abandoning the US currency, and the dollar’s share in trade operations between Russia and China has reached a minimum.
In light of that, economists expressed confidence that this cooperation will ultimately end with a "financial alliance", in which there will be no place for the American currency. Economic data showed that the dollar’s share in the commercial accounts between the two countries in the first quarter of this year fell below 50% to 46%, for the first time to launch.
The share of the yuan and ruble during the aforementioned period was 24%, while the share of the euro was 30%. This shift is part of a Russian strategy aimed at "reducing" the dependence of the Russian economy on the dollar and making it more flexible in the face of the threat of new US sanctions.
In 2014, Moscow and Beijing signed a three-year currency swap agreement worth 150 billion yuan ($ 24.5 billion). Experts say that efforts by Russia and China to abandon the dollar is one of the main reasons for the decline in demand for the dollar. Also, the International Monetary Fund warned, in a report last August, that printing trillions of dollars to fight the crisis and extremely low interest rates undermine the dollar's position as a reserve currency.
The US debt, which has reached $ 26 trillion, is a heavy burden on the US economy, and according to Swiss bank UBS, this will hurt the dollar in the end.