Thoughts From Tivon and MilitiaMan Sunday PM 6-5-2022
KTFA:
Post #51: TIVON: People I do not see how or why you are not excited about the below excerpt from yesterday's thread. Do you all know the importance and implications as to how vital the the oil contracts moving from Kurdistan to Baghdad is to the HCL/Oil & Gas which is the backbone to the "Purchasing Power" the citizens have been asking for?
What did we all state so many times as to how "Citizens Entitlements" is included in the Food Security Law? To be honest with you I would not be surprised if a rate came out next week.
This FSL is the real deal people. You don't have to ponder and wonder around the gray area as you can put as much emphasis as you want on this FSL and not be dismayed or bewildered by any other jargon about how this will assist in pushing out the exchange rate.
Tivon cont…..You are looking at your target. Shoot for the moon. Isn't the FSL designed for the immediate needs of the Iraqi citizens? So you tell me how long is immediate supposed to last. Because the summons of oil companies to court today doesn't seem to have much breathing room for those trying to hold out for Kurdistan. IMO
Oil companies in Kurdistan will appear before the Commercial Court in Baghdad next Sunday
3rd June, 2022
An informed source revealed that Western oil companies operating in the fields of the Kurdistan region have received a summons to appear before the Commercial Court in Baghdad next Sunday
The source, who preferred not to reveal himself to Economy News, said that the Ministry of Oil, after the Federal Court’s decision, which included the unification of oil policy and the failure of the Kurdistan Region to produce and export oil independently, began to take legal measures to compel oil companies to contract with Baghdad instead of the Kurdistan region, referring to The Western oil companies received a summons to appear before the Commercial Court in Baghdad next Sunday.
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Zeeman: i have a question if you read post 32 it says malaki has reduced the food law to almost nothing. then post 88 they talk of disagreements on the law that they will continue on monday then if they agree will set a date to vote, this was all to be done by wed. what is really going on because all the last couple of days we hear from tivon and mm whom i respect say sun was a day filled of good things happening. it seems as usual for iraq all talk no action. imo the best thing that could happen is disolve the gov so malaki and fellow irian politicans lose their immunity and be tried for their many crimes imo
TIVON: Maliki reducing financing in the FSL? Oh noooo. Listen they can revise, revamp, or reduce whatever figures they want. That's not where your interest should be. Pay attention to "The Contracts". I told you all who to pay attention to. Do not get caught up in the traffic of articles. That's like trying to write down the license plate of a speeding car.
Read post 51. (see above) All we want is the HCL/Oil & Gas Law. This falls under "Citizens Entitlements" which is integral to the "Food Security Law.
Sunday/Today was big for the reasons I wrote in Post 51. Again they still have until the 8th. There is no going back. The lines have been drawn. Hakim Al-Zamili, Mazhar Saleh, Al-Kazemi, and the governor of the CBI are your premier players.
These group of men are not playing mind games with anyone. They are the ones combating the chaos and confusion in these articles you are reading. IMO 👇
The First Deputy Speaker of the House of Representatives, Hakim Al-Zamili, and Finance Minister Ali Allawi agreed, today, Sunday, to add a paragraph to the Food Security Law for the lecturers.
A statement by Mawazine News received a copy of it, that "the latter chaired a meeting of the Parliamentary Finance Committee, in the presence of its Chairman, Hassan Karim Al-Kaabi and all of its members, to put the final touches on the proposed law on emergency support for food security and development, and to finish its discussion to include it on the agenda of the parliament session." Representatives are coming for the purpose of voting on it.
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Samson: Al-Zamili calls for passing the Food Security Law: The Ministry of Electricity owes more than 5 trillion dinars
5th June, 2022
Hakim Al-Zamili, the First Deputy Speaker of the House of Representatives, called on the Parliamentary Finance Committee on Sunday to vote on the paragraphs of the proposed emergency support law for food security and development with the aim of supporting a number of ministries, including electricity.
This came while he chaired an "important" meeting of the Parliamentary Finance Committee to put the final touches on the proposed emergency support law for food security and development before submitting it to a vote.
Al-Zamili said in his speech during the meeting, which was attended by Shafak News Agency correspondent, "We do not want to approve laws by agreement between the heads of blocs and parties, but rather we want an agreement within the Parliamentary Finance Committee," stressing that "any disagreement within the committee will reflect on the work of the Council and the adoption of laws."
He added that the proposed law is important, and that the Ministry of Electricity owes five trillion and 500 billion dinars, noting that the Ministries of Social Welfare and Trade also need a financial allocation.
Al-Zamili added, "We hope to vote on the food security law within the committee in order to hold a session and vote on the law."
In an exclusive statement to our agency, Al-Zamili said that there are those who support its approval of the Food Security Law and there are those who oppose it, adding, "But in general, there is an intention for the House of Representatives to vote on the law in the nearest parliament session."
He added that the Food Security Law includes a financial allocation for lecturers, contracts, daily wages, administrators, contracts for the ministries of electricity and oil, and contracts for all ministries and state institutions, noting that an amount related to this segment has been allocated in the Food Security Law.
In turn, the Chairman of the Finance Committee, Hassan Al-Kaabi, announced that the amount allocated to the class of lecturers, contracts and daily wages is more than one trillion dinars. LINK
TIVON: This should not be overlooked as I stated repeatedly that the "Food Security Law" will be doing what the budgets from past years was supposed to do. But due to corruption and foreign influence these were used as political football and the citizens suffered because of it.
Now where are we in 2022? The Iraqi citizens are being prioritized more so than any other time since the past 20 years or so. So now that everything the citizens may need is being addressed from the FSL they can use the 2022 Budget strictly for book keeping and oversight into the funds being allocated to the different departments, ministries, and governance, to ensure the money is going where it needs to go.
Whoever came up with this plan is genius.
Russia is on the gold standard. Zimbabwe announced they will be going to gold standard. China as well. When looking at the greater environment you can now see why Iraq also has gold reserves.
Back them even just 5 years ago I can see that things were not as lined up as they are now simply because the other dominoes were not ready to fall just yet. One of them being the Stock Market.
I digress. The oil contracts and the HCL being brought up in the same week? This is historical as it never happened in this manner since we have been invested. Especially if Al-Sadr was pushing for it. And now look where we are. A court summons? What more can we get over the next couple of days?
Quote: The law also included the treatment of lecturers, contracts, daily wages and certificate holders, as these segments have suffered over the past period due to the lack of a budget," explaining that "the law will include a financial allocation to compensate the liberated provinces from ISIS gangs."
Al-Kaabi indicated that "the sums will be in the ministries and governorates account, as soon as the law is voted on." End quote. IMO
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MilitiaMan: Your absolutely right. I too, know what this implies. It imo implies they will have access to the money immediately once voted on. As the new system will be electronic and digitized, thus that can happen.
Just as the CBI has said. The dinar will be digitized just as 137 other countries of the world and possibly more will be. Once they have placed the new exchange rate, they'll need to have interconnectivity with the outside world. They'll all have to talk the same language digitally. To have a relationship down to the retail level.. That is us.
They'll need to be IMF Article VIII compliant with a new international exchange rate.
One where they will need to have new currency with less zeros. It also means that the vote is rate oriented, as the word sum is about a particular amount of money. That fact is what we are all watching for. For the CBI to have exposed the colors in England shows intent and the ball is rolling now and it has gained a vast amount of speed.
What is not to like about the news of late? Of course everyone should be grounded, but, who is not seeing this like we have never seen before, ever. We never witnessed the CBI go to England and give a gift in a photo op like that. There is no way anyone can tell me that the prestige of the CBI Governor (NSCNs) would gift a small pack of triple zero notes to another Central Bank Governor.
So, lets be real and lets see what they vote on and what sum they come up with.. As that sum is going to make or break this whole study.. Fair market value, is what I expect. Nothing more, nothing less.
The citizens deserve their fair share. And from the looks of it both the sum of it and the equal distribution of it is front and center. imo ! ~ MM
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Samson: Central Bank Governor: The Iraqi banking sector is witnessing development and openness to the outside
5th June, 2022
Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikheeb, confirmed today, Sunday, that the Iraqi banking sector is witnessing development and openness to the outside world.
And the bank stated in a statement that Mawazine News received a copy of it, that “Fear, received a delegation from the Central Bank of Egypt, headed by Deputy Governor Sherif Ashour, in response to an official invitation. Financial Inclusion.
He stressed that "the Central Bank of Iraq always seeks to develop its relations with central banks in the countries of the world, in a way that contributes to developing bilateral relations and increasing cooperation, which will reflect positively on the Iraqi economy."
He added, "The Iraqi banking sector is witnessing development and openness to the outside," explaining that "the mutual visits between the Iraqi and Egyptian Central Banks are part of the cooperation efforts between the two parties, which contribute to the development of human resources for workers in the banking sector."
It is noteworthy that the delegation of the Central Bank of Egypt, yesterday, Saturday, conducted an inspection tour of the new building of the Central Bank of Iraq, and visited cultural and heritage landmarks in Baghdad, where he praised the great architectural edifice that decorated the capital, Baghdad.
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Militiaman: The CBI was in London recently and had a gift for the Bank of England.. I am fairly sure the gift was not samples of triple zero notes. The man is reaching for his glasses for cryin out load. lol As in what do we have here??? The Look on Mustafa's face is priceless.. "You like the new money?" lol ~ MM
I am sure the Central Bank of Egypt has some of those notes now, too. The new ones. The ones that will be relevant once the exchange rate changes. An inspection of the new CBI building with a new exchange rate to come? That is the plan and from the sounds of it the FSL law being on the table today and possibly through tomorrow just may be the ticket that we are looking for.
With respect to the FSL they state: "Al-Kaabi indicated that "the sums will be in the ministries and governorates account, as soon as the law is voted on." Well if the FSL law is rate centric, as it the 2022 budget law then that quote from Al-Kaabi has some power behind it. Lets see if they do as they say.. Sure looks like the CBI is ready to provide what they need. It is about time too. imo ~ MM
He added that "the food security law is important, and we did not adopt this law for personal matters, but rather for the citizen's need for the law, especially electricity, the poor, social welfare and the ration card, which concerns a large segment of citizens, especially the poor, in addition to the segment of free lecturers and the governorates."
Al-Zamili expressed his hope that “the law will be voted on within the Finance Committee,” stressing the need to “look at the law in the interest of the citizen and not for the interests of the provinces or the region.”
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FINAL ARTICLE #1600
"THE CBI MAY ASK.......... WHAT COLORS AM I HOLDING?".......F26
The Governor of the Central Bank of Iraq meets the Governor of the Bank of England
25th May, 2022
On Tuesday, 24 May 2022, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhief, met the Governor of the Bank of England during his visit to London to participate in the Conference on Sustaining Economic Growth, which was held by the Iraq British Business Council.
The two sides stressed the importance of central banks and monetary policy in facing economic challenges, ensuring macroeconomic stability and supporting economic growth.
The Governor of the Bank of England welcomed the training of the Central Bank of Iraq's staff in various fields. And the importance of developing banking relations between the two countries.
Central Bank of Iraq
Media Office
May 24, 2022 LINK
