Okie, TNT, MilitiaMan, Pimpy and more Sunday 1-3-2021
TNT:
Tishwash: Parliamentary Finance: Parliament does not have the power to re-exchange rate
The Parliamentary Finance Committee on Sunday reiterated the parliament's inability to re-exchange the Iraqi dinar against the US dollar.
"Parliament has no authority to re-exchange the dinar against the dollar, while at the same time it will reduce expenditures and make money transfers to support the industry and the national product," committee member Jamal Cougar told Shafq News.
"The decision to set and re-exchange the dollar is in the hands of the Minister of Finance and the Governor of the Central Bank, who are also responsible for the repercussions of the price increase as a result of the depreciation of the dinar against the dollar and its impact on citizens and low-income earners," Cougar said.
On Saturday (December 19, 2020), the Central Bank of Iraq officially announced that the foreign exchange rate (US dollar) had been adjusted to 145,000 dinars for every $100. link
Tishwash: Disappointment and a violation of the law": raising the exchange of the dollar against the Iraqi dinar "a step that no one will stop" ... it will reach 1700 dinars!
The Iraqi street is awaiting the rise and fall of the exchange rates of the dollar in the local markets and stock exchanges, after the decision of the Ministry of Finance to officially raise the exchange rate to 1450 in the 2021 budget, which raises the concern of traders and exchange owners as well as citizens, as it is a decision that led to raising prices for goods and commodities in daily dealings.
On Sunday, the Parliamentary Finance Committee reiterated its inability to restore the Iraqi dinar exchange rate against the US dollar.
Committee member Jamal Cougar said, in statements monitored by "Yes Iraq": "Parliament does not have any authority to restore the exchange rate of the dinar against the dollar, and at the same time it will reduce expenditures and conduct transfers of funds to support industry and the national product."
Cougar added, "The decision to determine and return the dollar exchange rate is in the hands of the Minister of Finance and the Governor of the Central Bank, and they are also responsible for the repercussions of the price increase as a result of the depreciation of the dinar against the dollar and its impact on citizens and people with limited income."
On Saturday (19 December 2020), the Central Bank of Iraq officially announced the adjustment of the foreign currency exchange rate (the US dollar) to 145 thousand dinars for every 100 dollars.
The government broke the law?
For his part, the legal expert, Ali Al-Tamimi, explained important details related to the government's decisions and procedures regarding employee salaries and the reduction of the value of the dinar against the dollar, pointing out that the government committed a constitutional violation related to its unfairness to employees when reducing the value of the dinar.
Al-Tamimi said, in a recent legal clarification, that “the salary scale law 22 of 2008 and its amendments specified in fixed tables the salaries of employees and job grades, which are legislated and specified in this law, and it also authorized the Council of Ministers to amend salaries in light of high inflation rates to reduce the impact of this on the level. Livelihood ”.
He added, "The relationship is positive here in the amendment of the Council of Ministers according to the decline in the value of the dinar or its rise and the effect of that on the markets with inflation, so if the value of the dinar decreased and led to inflation and rise in prices, this is a reason for the rise in salaries from the Council of Ministers according to this text to face the crisis, but what happened is On the contrary, salaries were reduced with inflation, and this contradicts this article.
And he indicated that “the decisions taken by the government regarding devaluation collide with the rule that affirms that the law is only amended by a law, meaning that this matter is within the authority of Parliament, and not by a decision of the Council of Ministers because it was the first to raise salaries and not reduce them according to this text in Article 3 of the law 22 of 2008 paid salaries, and if the Council of Ministers wanted the amendment, it must raise the matter to Parliament, and he is the one who has the right to amend the law.
He explained that “this decision issued by the Council of Ministers requires that Parliament, according to Article 61 of the Constitution, follow it and know the reasons for being representative of the people, and that the decision issued by the Council of Ministers to reduce salaries is subject to appeal before the Personnel Affairs Court. Court ”.
It may reach 1700 dinars to one dollar?
On the other hand, economist Ihssan Al-Tamimi said that the exchange rate of the dollar may change after the middle of next year, especially if the government resorts to borrowing after it exceeded the month of June in 2021 due to the large deficit in the budget.
"The budget, which exceeded the 160 trillion dinars, has a large deficit that exceeds the 60 trillion dinars, at a time when everyone is contemplating the rise in oil prices to cover this deficit," Al-Kinani said in a press statement.
He added, "The government will resort to borrowing again, in the event that it is unable to overcome the deficit in the budget, which is intended to take additional measures that would increase the dollar exchange rate."
He pointed out that "the dollar exchange rate may reach unnatural levels and may exceed the 1700 dinars to the dollar, after the middle of next year, if the government can find new sources of financing that eliminate the budget deficit."
Al-Kinani ruled out the return of the dollar’s exchange rates to 1,200 in the next three years, especially since global markets are suffering from a financial crisis due to the Corona virus, amid fluctuations in oil prices due to the repercussions of the virus.
Today's prices?
The dollar exchange rate decreased in the markets of Baghdad and the Kurdistan Region today, Sunday, January 3, 2021.
Our correspondent said, today, Sunday, Al-Kifah Central Stock Exchange in Baghdad registered 144,000 Iraqi dinars for 100 US dollars, and Al-Harithiya Stock Exchange in Baghdad recorded 144,000 dinars against 100 dollars.
On the other hand, Al-Kifah Central Stock Exchange in Baghdad recorded 144300 Iraqi dinars for 100 US dollars yesterday.
Our correspondent indicated that the buying and selling prices also decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 145,000 Iraqi dinars, while the purchase prices reached 143,000 dinars per 100 US dollars.
In Erbil, the capital of the Kurdistan Region, Erbil, dollar prices also witnessed a decline, and the selling price reached 144300 per hundred dollars, and the purchase at 144,000 per hundred US dollars. link
Courtesy of Dinar Guru
MilitiaMan Article: "Ministry of Commerce: the middle of next month, the date for the application of the electronic payment system" The push is on imo... They don't have much time between now and the mid month January time frame they give...to implement the electronic payment system. The minister of Trade had obstacles to overcome and it appears the obstacles have been overcome now. The electronic payments should be from my understanding be done with a new digital dinar. There words not mine. [post 1 of 2....stay tuned]
MilitiaMan ...The country has obviously devalued for a purpose(s)...In my view they have a plan that included the devalue, then a subsequent deletion of the 3 zeros and then the intention is to defend the exchange rate for stability. The electronic payments may very well be a very supportive clue to the accuracy of my view. We shall see. imo. [post 2 of 2]
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KTFA:
Samson: Beijing vows to respond to the New York Stock Exchange's delisting of 3 telecom companies
2nd January, 2021
On Saturday, China vowed to respond to the New York Stock Exchange's announcement that it would remove 3 Chinese telecom companies from its list
In a statement, the Chinese Ministry of Commerce criticized the decision of the New York Stock Exchange, describing the decision to remove telecommunications companies from the stock exchange under the pretext of their association with the Chinese army as "unfair
She added, "We reject the American states' classification of Chinese companies as Communist Chinese military companies, under the pretext of national security. He continued, "We will take the necessary countermeasures to protect the legitimate rights and interests of Chinese companies. He pointed out that the delisting decision would significantly weaken the confidence of all parties in the US capital market
And the New York Stock Exchange announced, on Thursday, that it would cancel the companies "China Telecom", "China Mobile" and "China Unicom Hong Kong", with the suspension of trading of companies between 7 and 11 January
And in November 2020, US President Donald Trump signed an executive decree preventing US investment in Chinese companies that cooperate with its country's military
Relations between the world's two largest economies have been increasingly tense amid a series of disputes over issues including trade and human rights LINK
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Pimpy’s investment Chat:
Iraqi News 01/02/21
From Dinarmama7 - FALSE OKIEOILMAN POST
It has come to our attention once again that there is another false post on Dinar Guru from OKIEOILMAN.
Again, he is not posting anywhere. He has never had an account on Twitter, Facebook or any of the other social . If you see any of these please do not believe them. They are fake. Do not pass them on. Do not give them any credit.
If he posts anything it will come to you just the way this does. Posted as submitted Dinarmama7 through Dinar Recaps and Dinar Chronicles only. That is by his personal request.
He thanks everyone for their love and support and prayers. Please continue to pray for him. We all need to cross the finish line together. He has done so much for all of us.
Dinarmama7
PLEASE PRAY FOR OKIE. He ONLY asks for prayers. You can POST a Prayer to OKIE or a PERSONAL MESSAGE in his room.
Salty RENAMED Okie's room. It is now "Okie's Community/Send Prayers, Messages and Support Link🧂". Please refrain from posting anything here except messages to Okie. Link remains the same.
Salty spoke to Okie over Christmas. His health is markedly declining. He can hardly breathe and "IS" very ill. He only asks for prayers, but he needs help and Our Community is the ONLY help he has. We send what we can depending on need and donations. We believe we are making a difference in OKIEs life. If you can afford to help Okie, here is THE ONLY LINK TO HELP OKIE. To make sure it goes to Okie, just add Okies name by clicking on 'Add a Note'. Just click on the Caring Donation Link and Thank You to everyone who donates and/or sends messages to Okie.
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