Dinar Recaps

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News, Rumors and Opinions Wednesday Morning 11-20-19

TNT:

Tishwash:   Abdul Mahdi adviser: the government is finalizing the final accounts of the 2018 budget to be submitted to Parliament

The economic adviser to Prime Minister Abdul Hussein al-Hanin, on Tuesday, completed the necessary preparations to submit the final accounts of the 2018 budget to the House of Representatives for the purpose of approval.

He said that the Council of Ministers, in cooperation with the Audit Bureau, is in the process of finalizing the draft final accounts for 2018.

He added that "the accounts will be submitted to the House of Representatives for the purpose of ratification," noting that "their purpose is to uncover corruption and close the door to manipulation and facilitate work on the House of Representatives to approve the 2020 budget."

He explained that “the draft is in the final stages of completion and submission”   link

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Tishwash:   Iraqi protesters refuse to give government 45 days to begin reforms

Abu Dhabi - Sky News Arabia

The Iraqi street refused to give political forces, the government of Adel Abdul Mahdi, 45 days to begin implementing reforms. The demonstrators renewed their demand that the government should leave.

link

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NWMontana:  350 directors and employees in Diyala to be investigated for corruption https://www.kurdistan24.net/en/news/543ba173-113d-4f4b-8a34-96bf676b41​5a

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 Tishwash:  The text of the law to cancel the financial privileges of Iraqi officials

Parliamentary Finance Committee announced the details of the proposed law to abolish the financial privileges of officials and presidencies, which was voted to approve this evening.

According to the law:

1. The Financial Grant Allocation Law No. (13) of 2005 shall be repealed
. It is prohibited to allocate funds for treatment in the three presidencies and all other state institutions.

3. It is forbidden to allocate amounts for rent allowances to those covered by the provisions of this law to those who own a property in the governorate of Baghdad.

4. It is not allowed to allocate more than 5 cars to the three presidents, as well as 4 cars for the vice presidents. It is not allowed to allocate more than one car to each of the General Managers and those who are down.

5. The legal departments in the three presidencies are responsible for contracting all those covered by the provisions of this law from the elements of protection and following up their administrative and financial affairs.

6. Hospitality allowances included in the payrolls of those covered by this law shall be canceled.

7. It is prohibited to lease aircraft to the three presidencies from the state treasury except for official delegations. The presidencies can use the presidential plane belonging to the ministers.

8. Reducing the delegate's entitlements from the night allowance stipulated in the Travel and Travel Law by 50%.

9. The cash disbursement of fuel wages for cars belonging to the State shall be prohibited and shall be replaced by the coupons of the al-Nasiyyah for supply from the petrol stations belonging to the Ministry of Oil.

10. The General Secretariat of the Council of Ministers shall issue instructions as follows:
• Determine the quantities of fuel spent for cars and vehicles for all state institutions.
• Determine the amounts allocated for hospitality and purchases in all state institutions.

11. The provisions of this law shall apply to the President of the Republic, his deputies, the President of the Council of Representatives, his deputies, the Prime Minister, his deputies, the President of the Supreme Judicial Council, the President and members of the Federal Supreme Court, the members of the Council of Representatives, the Ministers, the heads of independent bodies, governors and agents Third degree upwards.

12. Withdraw all protection regiments from the three previous presidencies, former ministers and political figures from 2003 to the present.

13. The three presidencies shall issue instructions to facilitate the implementation of this law as per their jurisdiction.  link

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Courtesy f Dinar Guru:

Walkingstick (via Frank26)  …it matters not that all the banks in Iraq [Do not] have the smaller notes yet.  What matters is that the process has started and IMO close to finishing.  Then I would ask the question, how long should these small notes stay in the vaults of the Iraqi banks?  IMO, not too long.  Short term. 

Frank26  ….the removal of the 3 zero notes is a first step then the replacement of equal value of these 3 zero notes is occurring IMO right now with a swap of 3 zero notes with new small category notes [with the CBI and banks not citizens yet].  All of this should have been competed by now.  The protesting delayed it a little bit…it is still ongoing…these 3 zero notes IMO are being collected and replaced with the same equal value of these small category notes [at bank level]…almost done all across Iraq.

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KTFA:

Samson:  Trump threatens China to increase tariffs if no trade deal

19th November, 2019

US President Donald Trump threatened to increase tariffs on Chinese goods if Beijing did not conclude a trade with Washington deal

The US president has returned to the language of threat as the world's two largest economies continue to disagree on some key issues before the partial trade deal is signed

Trump said in remarks on the sidelines of a cabinet meeting on Tuesday that China would have to make a trade deal with the United States

The United States and China agreed to the "first phase" of the trade deal last October, but the two sides have since sent conflicting signals about the official signing. A spokesman for China's Ministry of Commerce said earlier this month that the two sides had agreed to phase out tariffs, while Trump later said he had not agreed

The United States has imposed tariffs on about $ 500 billion of Chinese goods, while China has responded by applying duties on about $ 110 billion of US products   LINK

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Fitch Ratings Downgrades After Mall Vacancies Reach Record High, But Has The "Big Short 2" Worked

SilverReportUncut:  Nov 20, 2019

Economic collapse news November 20, 2019. First we begin with the downgrades to two types of cmbs deal due to failing shopping malls and other shopping retailers. This is one of many ways the retail collapse is beginning to be a drag on the economy.

Shorting the mall retailers has become known as the Big Short 2 so we look at a couple heavy bets into a retail collapse that haven't panned out. Maybe He wasn't wrong, maybe He was just early...

Also a lot of other stuff is going crazy including silver getting pummeled recently. It looks very attractive.

https://youtu.be/qElNlFTh1LA?t=3

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