More News, Rumors and Opinions Tuesday Evening 10-26-2021
TNT:
Tishwash: How do Iraqis choose presidents, ministers and representatives?
The rest of the constitutional and legal procedures remaining until the formation of the new government After the Electoral Commission officially announces the electoral results of names and political blocs, those who -
1 object to the results have three days from the day following the announcement of the results to challenge the .results before the Judicial Commission for Elections The law gives the electoral judiciary seven days to issue a ruling on the appeal, and the decision of the judiciary -
2 .is final After completing the foregoing, the Commission shall present the electoral results in their amended form to the -
3 Federal Supreme Court, which certifies the final results of the elections. The approval process by the court usually .takes up to three days Within fifteen days of the approval of the results, the President of the Republic shall call the new House of -
4 .Representatives to convene by presidential decree .In the first session of the new parliament, the session is held under the chairmanship of the oldest member
-5 The first session of the Council of Representatives is devoted to electing a president for this council, then a first -
6 vice-president and a second vice-president, with the approval of an absolute majority of the number of members of the Council, i.e. with the approval of more than half of the members of the Council. Since the number of .members of the Council is 329, it requires the approval of at least 165 deputies The first work done by the Council of Representatives after the election of the presidency of the Council opens -
7 the door for candidacy for the position of the President of the Republic, where the approval of two-thirds of the number of members of the Council is required in the first round, i.e. the approval of 210 deputies considering the number of members is 329. The four elections for Talabani and Masum and the current president, then competition will take place between the candidates who get the highest votes, and whoever gets the majority of .votes in the second ballot, regardless of the number, is declared president The President of the Republic assigns the candidate of the most numerous parliamentary bloc to form the
-8 Council of Ministers within fifteen days. Contrary to previous sessions, Article 45 of the current Elections Law 9 of 2020 cut off the controversy and decided to prevent the transfer of deputies before forming the government, which means that the most numerous parliamentary bloc is the one who obtains This number, as announced by the Electoral Commission and ratified by the Supreme Court, and not the bloc that consists in the House of Representatives, because the aforementioned Article 45 prohibits the transition between representatives, after .which, naturally, coalitions begin to achieve the required majority for voting The majority required to approve the new cabinet, the absolute majority of the number of deputies present. If -
9 .the number of deputies present is 300, then the approval of 151 is sufficient for the prime minister and ministers link
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Courtesy of Dinar Guru
Sandy Ingram Article: "Iraq oil minister sees oil prices at $100 in early 2022" That's $100 per barrel...Iraq's minister of oil [had] said $100 a barrel for oil was unsustainable however now he reports that oil prices will be at $100 a barrel by early 2022. What changed his mind? Well thanks to the cartel, OPEC global inventories are at their lowest level. People, this increase in oil prices means prices will be increasing around the world...oil exports to America rise significantly. This is certainly good news for Iraq.
Breitling Question: "Doesn't it seem we get so close to a viable window for the change in the dinar then something happens?" No that isn't true...Don't get emotional like that. Don't think like that. It's not a hot or cold situation. That's why I use the term 'windows'. There's an opportunity coming up at the end of October/November that hasn't changed. That window is here. We'll see what they do. Their decision is going to be based on the markets. It's not an emotional thing...There is no 'getting close' or 'almost' or 'should have.' You are thinking incorrectly. And if you do think like that this is not the investment for you. It is not the opportunity for you because it will just drive you nuts.
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KTFA:
Samson: The budget..and the citizen's wallet
26th October, 2021 by Qassem Gharawi
In order to approve the budget, 35 parliament meetings and more than 150 hosting have been achieved so far regarding the 2021 budget, and the Finance Committee meetings are still continuing to consider the objection points, which amounted to 162 objections.
The most prominent findings reached or confirmed by the Finance Committee through the many objections recorded by parliamentarians to the budget are: Contracts and procedures will have a share in the budget, and it will include a mechanism and the amounts of money disbursed to them. As well as reducing the amounts allocated in the budget from 164 to 127 trillion dinars.
It was confirmed that the price of a barrel of oil would be 45 dollars, after the government approved it at 42 dollars.
Revenues will rise by more than 5 trillion dinars, if we take into account that the price of a barrel of oil currently exceeds 50 dollars, and this provides additional funds to the state treasury.
The Finance Committee also reached a reduction in the budget deficit to 19%. The Committee also recommended postponing the payment of Kuwait’s debts amounting to 2.5 trillion, and it was emphasized that Iraq’s oil share would be restored after it reduced its production due to the Corona pandemic, and members of Parliament stressed the need not to reduce the investment budget and support the private sector through Several steps.
The pressure on government expenditures and the emphasis on the financial returns of ports, airports, land border crossings, and taxes are enough to reduce the deficit and rely on other resources in building budget items without relying entirely on oil, which caused a real financial and economic crisis for Iraq and will help to overcome the crisis.
We believe that the Finance Committee is unable to reduce the dollar exchange rate to what it was, considering that the Central Bank is an independent body in its monetary policy and fits the government's directions in what it presented in the white paper. As for changing the exchange rate (from the government's point of view) it gives the state the ability to increase its revenues and confront imports from abroad.
Parliament has so far failed to establish the share of the southern governorates, especially Basra, of the petrodollars, and it is still hovering over the salaries of employees and the search for a way to deduct salaries, and (the citizen) wrote on him (the citizen) to bear everything because of the failure of governments and their floundering policies. LINK
Mike Maloney
6 Charts Predict Economic Implosion: How YOU Can Take Cover
Premiered 2 hours ago
Join Mike Maloney and Jeff Clark in this must-watch update as they discuss six important charts from a recent article published by Crescat Capital.
As you’ll see, many of Mike Maloney’s early predictions are not only coming true…but they are becoming ‘mainstream’.
Where does it all lead, and what is the best way to protect yourself from what is coming?