Frank26 and MilitiaMan Friday PM "Anoher Exchange Rate Change" 1-8-2021

KTFA:

Samson:  New financial statement on the adjustment of the dollar exchange rate

8th January, 2021

The Ministry of Finance issued, on Friday, a new statement regarding the measures supporting the increase in the positive effects of adjusting the exchange rate of the dollar against the Iraqi dinar.

The ministry stated in a statement that Mawazine News received a copy of, that it “is fully aware that there are a number of supportive measures that need to be taken to increase the positive effects of adjusting the exchange rate. By the cabinet."

She added that she "led extensive discussions in the past weeks after the approval of the budget by the Council of Ministers regarding the follow-up to adjusting the exchange rate with many parties inside and outside the government.

These discussions will culminate next week with a proposed expanded meeting with the main economic actors from the public and private sector, where the Ministry of Finance will develop its policy program." Detailed designed to maximize the benefits from an exchange rate adjustment.

She indicated, "She hopes that these procedures will coincide with discussions within the House of Representatives on the budget, and it should be noted that the main policy measures to protect the poor and the vulnerable have been included in the budget and discussed in the minister's statement regarding the budget."  LINK

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Samson:   Iraqi Finance announces new developments in the dinar  exchange rate

8th January, 2021

The Ministry of Finance promised on Friday to make an amendment to the exchange rate of the foreign currency against the Iraqi dinar, after the decision taken by the Central Bank to reduce the value of the local currency and increase the prices of imported goods and goods in the country.

The ministry said in a statement received by Shafaq News that it is fully aware that there are a number of supportive measures that must be taken to increase the positive effects of adjusting the exchange rate. The Ministry of Finance was unable to do this publicly due to the sensitivity of the issue and because the budget must first be approved by the Council of Ministers. And she continued that she led extensive discussions in the past weeks after the budget was approved by the Council of Ministers regarding the follow-up to adjusting the exchange rate with many parties inside and outside the government.

She added that these discussions will culminate next week with a proposed expanded meeting with the main economic actors from the public and private sectors, where the Ministry of Finance will develop a detailed policy program designed to increase the benefits from adjusting the exchange rate.

In its statement, the ministry expressed its hope that these measures will coincide with discussions within the House of Representatives on the budget. The statement indicated that "the main policy measures to protect the poor and vulnerable have been included in the budget and discussed in the minister's statement regarding the budget."

The Central Bank of Iraq had decided to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, in order to compensate for the decline in oil revenues caused by the deterioration of oil prices. Iraq relies on 90% of its income on oil revenues, and the last time it devalued the dinar was in December 2015 when it raised the selling price of the dollar to 1182 dinars, compared to 1166 dinars in the past.

The central bank launched its decision regarding the new pricing for selling the dollar in the auction for the currency on the 20th of last December, and since then, the bank has witnessed a decline in currency sales. Iraq is under great pressure under the weight of the worst economic crisis it has witnessed since 2003 until now due to the low oil prices and the outbreak of the Corona virus.    LINK

MilitiaMan:  What a find Samson! I can imagine sleepless nights are coming to many.. Those that go to bed at 9:00 may think twice about it now.. lol lol Thank you!

They say this is a new development in the dinar exchange rate. Well, fairly sure we can see that this was a part of the plan for some time and they are rolling out that plan.

They used the Devaluation on purpose, imo, knowing that there would be effects both of which served a purpose to stimulate the citizens to bring in additional 3 zero notes, citizens feeling that if they devalue again to 1660 they would lose even more purchasing power.

They knew that the citizens would get pinched, but, it was apparently a necessary evil.  One that may not have been as successful as thought. Regardless the plan was to be short lived and it appears to be the case now As, we see the Finance Minister has promised today to make an amendment to the exchange rate for positive effects and with supportive measures.

 The fact that they budget was past and they kept the data close to their chest is clearly a true sign of the sensitive nature of things. We all know the 2019 FMLA and the 2020 Budget was kept under wraps for a purpose as well. That imo is the sensitivity of the whole plan. The new International Article 8 Compliant Exchange Rate. The REER.

The HOR (house of representatives?)  is said to meet Saturday.. They say it is hoped that the meeting will coincide with the COM (Council of ministers) and the HOR in regard to the 2021 Budget with an amendment to it.

Well that imo is why they played this out this far. Because the data in the 2019 FMLA and 2020 was so sensitive in nature. The sensitivity is the mechanism in the data to go to a market economy.

They have the systems in place to do so now.

 They have the Electronic system in place. BUNA is well known to have interlinked with the region. That includes the members of the AMF. That would also include indirectly the IMF / SDR.. They communicate with each other at times.

I did see that yesterday!! It lines up that 1450 less three zeros is similar to SDR $1.450. The article a day agoy said in May 2020 the Dinar was valued at 682 Dinars to the Dollar. The real value, they said. Then they spoke of the 1182. Now We see the devaluation down to 1450 real close.. $.682 is the value of 682 Dinars once or if the three zeros are dropped. 1/1.45 is .69 real close.

See the similarities converging. Take not of the SDR is $1.45 real close.. Key thing of interest is the AMF / AAD is $420+-. That is just under 3xSDR.. 

So, It sure looks like the process was to devalue ahead of the revaluation to come as part of the plan has legs. The US Fed told us they can Devalue and Revalue and it appears to be holding true. As stated above. 

Now lets think about the green dollar and blue dollar articles over the last couple weeks. They seem to support there is a transition going on. The dollar auctions are showing scarcity to the cash sales (see above). Yesterday, case in point again, the auctions were a mere $100,000.

The green dollar and blue dollar are different not just in color. The green dollar was said to be pouring in illegally from the Kurdish region, as it was put to us. The blue dollar (different) was being used by the central bank and they were selling at 1450.. Keep that in mind.

The blue money we thought was apart of information in respect to NSCNs. In effect that may be true still to a greater degree than thought relationship wise.  As the blue dollar is to be used in the future, as it may be a digital dollar that will need to be paired with a digital Dinar where by the new small category notes come into play. They will need to have similar technology in respect to digitization and valued accordingly to an international standard article 8 compliant rate, imo.

The blue dollar that Frank asked Petra and I to consider closer, is because he believes imo that the Blue dollar is something Big that got started on or around the 1st of January, just as the well placed clip he offered us from Trump rally showed him saying Something big is about to happen!

The article yesterday speaks of a spiral if they don’t contain the spending an fill in the gaps with alternative incomes outside of oil. We all know that Iraq has been ready to clear and settle trades through the BUNA system. That system will be able to clear trades not only with Iraq but all countries affiliated with the AMF. Second mention is for purpose. 

The countries currencies would have to be able to be cleared similarly to each other. Just as the dollar will need to be or now is able to be. It has been implied the Blue Dollar is on the other side.. Meaning to me that it is coming into Iraq already, as in it is done and ready to go.

We await Iraq e-Dinar now. imo 

We saw that the 2021 budget has been side kicked back over over the last couple months to now be to the end of the rail line, Saturday. That is tomorrow.  Interestingly the Tuesday session for the Parliament was to be for Tuesday this week and it was canceled with out notice of a reason as to why and was pushed out. We can glean from the above that the sensitive nature is why! 

We have heard over the years that there may come a time where the citizens outside western eyes may get four days alone with their new sovereign money, effectively anyway. From post Tuesday four days is Saturday and the is the same day exposure of the 2021 may hit the HOR.. Let see..Much of what is in this post was written yesterday..lol

So if we keep in mind the pairing of rates, the value of the Dinar back in May 2020 was 682 and now is 1450, by dropping the 3 zeros the Dinar 1.45 is or will have converged with a competing AMF to SDR basket that can talk if you will through the BUNA platform..

3xSDR is where countries within the IMF are said to be. Samson’s post of the other day of SDR $1.45+- is suggesting there is now a convergence leading up to the HOR meeting Saturday..

I like it!! Imo ~ MM

Frank26:  1-8-21.......ANOTHER EXCHANGE RATE CHANGE

https://www.youtube.com/watch?v=KZ918ITYdfg

Monday Night KTFA CC with Frank26 "It's A Good Sign" 1-4-2021

KTFA Monday Night Conference Call

PLAYBACK IS: 605.313.5163 PIN: 156996#

A NEW UB2B WITH THE IQD UPDATE

Frank26:  1-4-21. .....ITS A GOOD SIGN

This video is in Frank’s and team’s opinion.

What do Frank’s Suit colors mean?

FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR 3 HEADS ... GOLD = CHANGE …NO BROWN ... NO GREY... NO YELLOW... NO FLESH 

https://www.youtube.com/watch?v=3DW-XTZU4GE

TNT, X22 Reports, Frank26 and more Tuesday PM 12-29-2020

TNT:

Tishwash:  Sumaisem: America will not pump dollars into Iraq, and dealings will be in the digital currency ... and Baghdad is forced to comply with the recommendations of the international monetary fund

Economic expert Salam Sumaisem said on the devaluation of the Iraqi dinar, that the dollar will be drained from its source in the US .Treasury, which will replace it with digital electronic money, Digital Dollar

Sumaisem added to the obelisk: We will then see how the smuggling of dollars continues, noting that only Iraq and its people will be the losers, and that .whoever trades in the Iraqi dinar will not benefit in anything

Sumaisem told Al-Masalla that draining the sources requires that there be a shortage of dollars that are pumped into the markets, referring to the issue of pursuing political money, as the financial decision-makers say that they cannot dry up the sources, but America, for example, has gone through the same crisis, especially after the decline

The US dollar fell a week ago on the global market by 8%, which prompted the Treasury to stop pumping more .dollars into the US market itself

Sumaisem considered that the Iraqi concerned authorities do not know how to act with the crisis.

Rather, they acted in a bad way in reducing the price .of the Iraqi dinar against the dollar ".

Sumaisem said, "It is true that this provides liquidity, but it will not solve the crisis

And she continued: America, for example, is moving now to the stage of digital money, which is digital money, and thus it will not pump more dollars into Iraq until it becomes scarce, and then it can pump a digital dollar. That every dollar has a number and circulation in it between the seller and the .buyer is known and limited.

It will also change the whole world, and for Iraq it will be a pivotal change Sumaisem revealed that the Minister of Finance signed a blank statement that he would implement all the recommendations of the International Monetary Fund.   link

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Harambe:  Bloomberg: Traders Boost Bets Against Dollar to Highest in Almost a Decade

(12/29/20)

 Speculative traders are ending the year doubling down on their bets against the dollar.

Net short non-commercial positions in futures linked to the ICE U.S. Dollar Index have surged to the most since March 2011, according to the latest Commodity Futures Trading Commission data. The gauge of the U.S. currency has fallen over 6% this year as investors turned against the greenback amid unprecedented monetary easing from the Federal Reserve and a move away from haven assets.

“Hedge funds are spoilt for choice when looking for reasons to be short the dollar,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore. “We have a Fed that is committed to a paradigm shift in its policy that materially lowers the risk of policy normalization, and a rapidly widening twin deficit makes it easier for short dollar bets.”

A combination of negative U.S. real yields, extended valuations across American assets and a current account deficit that requires dollar depreciation to finance will likely weigh on the currency into next year, strategists at Goldman Sachs Asset Management wrote in a recent note.

The Bloomberg Dollar Spot Index was down 0.3% as of 6:55 a.m. in New York on Tuesday. Ten-year Treasury yields rose two basis points to 0.94%.

“We see depreciation in the dollar continuing into 2021,” the Goldman team said. “Liquidity dynamics and virus news flow may influence the timing of dollar weakness, but not necessarily the medium-term downtrend.”

https://www.bloomberg.com/news/articles/2020-12-29/bearish-dollar-bets-near-decade-high-as-2020-draws-to-an-end

Courtesy of Dinar Guru  https://www.dinarguru.com/

Frank26   Didn't we not say to you that this 1450 is something that you can flush down the toilet?  99.9% of you did [hear me].  The rest of you didn't and you panic.  And you continue to let this open wound to become infected and you created your own frustration...stop being so scandalous about every little thing you hear.  It's supposed to be confusing...the confusion is part of the plan...

Jeff  ...what they're doing is injecting more U.S. dollars into Iraq's economy that when the rate changes they have dollars instead of dinar...when the rate does change they have take their dollars into the bank for dinar.  It's just another step to pull the dinar out of circulation - to remove the 3-zero notes out of circulation inside the country of Iraq...

Breitling   They want to add value to their currency...They want to be able to participate in the markets.  They want to diversify.  They want to get out of the oil markets.  They're stuck.  What are they going to do?  They're going to comply with the United States, the west and our trading...they're still moving forward...They are going to pay off debt.  They're going to get their payments lower.  Then they're going to add value to their currency.  It's a win, win, win situation for them.  That's their strategy.  That's what they're up to...this thing is coming down the road.  They're going to revalue their currency...

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Tuesday Night X22 Reports:

Trump Turns The Spotlight On The Economic Swamp, No Escape-- Ep 2365a

The people are now seeing for the first time that congress is not for the people, they are interest in their lobbyist, special interest groups and they are not passing bills to benefit the people. Trump just exposed the economic swamp.

https://x22report.com/aiovg_videos/ep-2365a-trump-turns-the-spotlight-on-the-economic-swamp-no-escape/

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What Is About To Unfold Will Be Earth Shattering, Birth Of A New Nation, Checkmate – Ep. 2365b

The patriots have now moved the [DS]/MSM into position, everything is about to change, this is not just about a 4 year election it is about taking about the country, breaking the illusion and allowing the people to once again to see clearly. This has been planned out and Trump and the patriots are leading the [DS] to exactly where they want them to be. Durham is on deck, this is checkmate, it has to be done correctly, we only have on shot at this, what is about to unfold will be earth shattering.

https://x22report.com/aiovg_videos/ep-2365b-what-is-about-to-unfold-will-be-earth-shattering-birth-of-a-new-nation-checkmate/

Monday Night KTFA CC with Frank26 and Team "It's Supposed To Be Confusing" 12-28-2020

KTFA Monday Night Conference Call..12-28-2020

Frank26 with Team Delta, MilitiaMan, Petra and Walkingstick

PLAYBACK IS: 605.313.5163 PIN: 156996#

Frank26:  12-28-20.... IT’S SUPPOSED TO BE CONFUSING

THIS IS ALL IN FRANK'S OPINION

https://www.youtube.com/watch?v=0x6vH7K9r3o

Monday Night KTFA CC with Frank26 and Team "The Kuwait and China Syndrome" 12-21-2020

KTFA:

KTFA CONFERENCE CALL MONDAY NIGHT...

With Frank26 and Team MilitiaMan, Delta, Petra and Walkingsick

Special Guest is Bluestar

PLAYBACK IS: 605.313.5163 PIN: 156996#

12-21-20.... THE KUWAIT AND CHINA SYNDROME

Frank26:  Both China and Kuwait misdirected before their Revaluations.

This video is in Frank’s and Team’s Opinion only!!!!

https://www.youtube.com/watch?v=SuYlXfmxTyg

Clare:  Iraq approves 2021 budget

EconomyIraq 2021 budget

 2020-12-21 13:19

 Shafaq News / Iraq’ Council of Ministers approved on Monday the 2021 state budget.
The cabinet held special meetings headed by Prime Minister Mustafa Al-Kadhimi and approved the fiscal budget of 2021. 

No further details were shared.

A leaked draft of Iraq’s state budget sent Iraqis into a panic on Thursday as it confirmed the government’s intentions to devalue the national currency, the Iraqi dinar, and cut salaries to cope with the impacts of a severe economic crisis.

Discussions about devaluating the Iraqi dinar, which has been pegged to the dollar for decades, have been going on for weeks as the government worked to finalize the 2021 budget.
The draft law, which has to go through a parliament vote first, gives an anticipated exchange rate of 1,450 Iraqi dinars for the dollar — a significant drop from the central bank’s current official rate of approximately 1,182 dinars for $1.

Will:  also in Reuters   2021 budget  

Atpinfinity:  What is this about at the bottom of Reuters Bagdad Dec. 21, 2020

Iraq has the world’s fourth-largest oil reserves and depends on oil revenues to fund 95 percent of its national budget.

($1 = 1.45 Iraqi dinars)

Reporting by Ahmed Rasheed; editing by David Evans and Angus MacSwan

Our Standards: The Thomson Reuters Trust Principles.

Sakcorta:  Imo.... did Reuters just let the cat out of the bag?

News, Rumors and Opinions Tuesday 12-15-2020

Snippets from Monday Night KTFA CC 12-14-2020

This is all in Frank’s opinion only

Frank26:  ATMs are locked and loaded.

I believe the banks have received new counting machines programmed for the new small category notes.

I believe The tellers should be training or already have been trained on these machines and other protocols.

I believe The Kurds signed off on the HCL.

The IMf says Iraq rate will change by the end of the year.

There is a big meeting later this week to be an introduction of the new notes to key Iraqi officials.

I believe they are about to release the rate!

https://www.youtube.com/watch?v=eBNvhQNneo0

Courtesy of Dinar Guru

Petra  ...we are in the end times with regards to our investment in the Iraqi dinar...we know time is short because the IMF has made a very clear indication in articles about what's going on with the exchange rate.  Through the IMF, Iraq has committed to changing their rate prior to the end of the year...That's not coming from us.  That's not coming from Iraq.  That's coming from the IMF themselves.  One of the most influential and powerful organizations in the world...  

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DJ:  DID YOU KNOW?

To understand or at least get general idea of why the constant delays and shenanigans of the GCR/RV/Redemption, we all have to come to terms with the reality of who and what controls the global economies.

You may think you have a clue or have a general picture of what is going on but when you start peeling back the layers of control mechanisms you discover at the center or core of the deceit lies big corporations and the media. The corporations contrive the plan and the media sells it. This isn’t conspiracy theory, it is fact.

Here is an example of the standard model. Take the rain forest of Ecuador. An extremely impoverished country. A large corporation (Texaco) sends in experts to survey the natural resources and discover massive oil deposits. They then send in negotiators who tell their leaders how the oil will bring prosperity to the Ecuadorians and personally line their pockets.

They bring in a staff of experts, statisticians and mathematicians who are skilled at developing economic models who then write reports that prove investments in electrical power systems, highways, ports, airports and industrial parks would spur economic growth.

These reports that describe “vast seas of oil” are then used to justify huge loans from the World Bank to the country and to persuade Wall Street to invest in Texaco, the corporation, and other businesses that would benefit from an oil boom.

But these statistics are screwed in favor of the fortunes of the families that owned the industries, banks, shopping malls, supermarkets, hotels, and a variety of other businesses that prosper from infrastructure rebuild. But while they prosper everyone else suffer as the nations GTP is barely effected.

A key condition of such loans is that the projects would be built by specified engineering and construction companies. Most of the money never leaves the United States it simply gets transferred from banking offices in DC to engineering offices in New York, Houston or San Francisco.

The money flows though U.S. Aid, the World Bank, CIA, and the Pentagon while the surface view is that it comes from Texaco.

Despite the fact that the money was returned almost immediately to the corporate members of the co-op, the recipient country, the debtor, is required to pay back it all back, principal plus interest. The loans are so large the debtor is forced to default on its payments after a few years. When this happens the banks still require their pound of flesh. This could include United Nation votes, the installation of military basses or access to precious resources such as oil. Of course the debtor still owes the corporations.

The money that had been budgeted for health care, education and other social services gets diverted to pay interest on loans, in the end the principal is never paid down. The country gets shackled by dept. Then the IMF arrives and demands that the government offer its oil or other resources to the corporations at cut rate prices and that the country privatizes its electric, water, sewer, and other public institutions and sell them to the corporations.

The corporations (In this case Texaco) take control of the military by paying their salaries and buying them their equipment. They get to write their own laws, set fines on oil spills, labor rates and all the laws that matter to them.

Financial infrastructure projects are funded through mountains of debt from the World Bank under the guise it would pull the nation out of poverty then the World Bank and U.S. aid reinforce the mind-set. Big business is the big winner and another country is added to the Cabals’ global empire.

This economic takeover model is replicated across the planet. China, Russia and other economic powerhouses are all pressured by the corporations that hold their debt and function within their specific economic engine.

So this should give you an idea of why the GCR is met with push-back at every turn. This status quo is what runs the world, and has for generations, and is what will be crashed by the GCR.

At the end of the day this is how global economics work at the top of the food chain to alter or completely change it a new model must be thought and be able to step in and fill the financial voids crashing the system will cause. In theory the QFS is the answer and a global currency reset is merely a function needed to oil the QFS machine.

Until it happens of course, it’s just a theory. Everything works until it doesn’t.   DJ

https://www.rumormillnews.com/cgi-bin/forum.cgi?read=160494

"UNTIL NOW, no info confirming or indicating reason for raising price of dinar against US dollar"

Premiered 10 hours ago

IRAQ NEWS: The latest Iraqi news relating to what's happening in Iraq and the Iraqi Dinar investment.

https://youtu.be/5AiaP3yZ82A?t=3

Monday Night KTFA CC with Frank26 and Team "New Denominations" 12-14-2020

KTFA:

Monday Night KTFA CC 12-14-2020

With Frank26 and his team of Delta, MilitiaMan and Petra

Playback Number: 605-313-5153   PIN: 319183#

Walkingstick is having surgery today to remove several tumors from his kidney.  This is a very serious and delicate procedure.  Please keep him in your thoughts and prayers today. 

12-14-20.....NEW DENOMINATIONS

This video is in Frank and team’s opinion

https://www.youtube.com/watch?v=eBNvhQNneo0

KTFA Monday Night CC and More ....12-7-2020

KTFA:

Monday Night KTFA CC 12-7-2020

With Frank26 and team: Delta, MilitiaMan and Petra

PLAYBACK IS: 605.313.5163  PIN: 156996#

12-7-20....THEY TOLD THEM!!!

This call is in Frank’s and Team’s opinions.

“There is just not much else to do except get the new rate out!!!”

https://www.youtube.com/watch?v=cybxiGMom6o

Don961:  Baghdad The International Monetary Fund is negotiating to determine the exchange rate

Monday 07 December 2020 Baghdad: Hoda Al-Azzawi 

 The Finance Committee in the House of Representatives expressed its hope that the 2021 budget bill will reach Parliament at the end of this week or early next week, with a deficit ranging between 40 to 50 percent of the volume of public spending, while the Al-Kazemi government intends to resolve the file in the regular session of the Council of Ministers that will be held tomorrow On Tuesday, it revealed that there are "job degrees" in the bill to be awarded to those entitled to it.

The government was late in preparing the budget due to the rapid change in global oil prices, which reached 49 dollars per barrel, in addition to negotiations with the International Monetary Fund to determine the exchange rate of the Iraqi dinar.

The Parliamentary Finance Committee also warned against “lowering the exchange rate of the dinar against the dollar, which will increase inflation rates and negatively affect low-income people who depend on salaries.”

Committee reporter Ahmed Al-Saffar told Al-Sabah: “The 2021 budget may reach Parliament at the end of the week or early next week,” attributing the reason for its delay to the rapid changes in global oil prices that reached $ 49 per barrel, which called for a review of the price The oil that is planned for the budget, as it affects revenues, the deficit, and how to spend it General ».

Al-Saffar expected that "the deficit ranges between 40 to 50 percent of the volume of spending," noting that "the other reason for the budget delay is due to negotiations between the Ministry of Finance and the International Monetary Fund to determine the exchange rate of the Iraqi dinar." 

Al-Saffar revealed that "there are opinions to reduce the exchange rate of the Iraqi dinar against the dollar," indicating that "this measure will lead to inflation and negatively affect people with limited income who depend on their salaries."  LINK

Briscom:  Kaboom!!!  

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Clare:  Al-Kazemi advisor comments on Iraq's negotiations with the IMF on the exchange of the dollar

12/07/2020

 Baghdad - Iraq today:

Advisor to the Prime Minister, Mustafa Al-Kazemi, commented, Monday (December 7, 2020) on Iraq's negotiations with the International Monetary Fund regarding determining the exchange rate of the dollar against the Iraqi dinar.

The appearance of Muhammad Salih said, "All matters related to negotiations between Iraq and the International Monetary Fund to determine the exchange rate of the dinar are in the discussion stage only."

He added, "The correct decision is for the cabinet when it discusses the draft budget very soon."

Today, Monday (December 7, 2020), the Finance Committee revealed negotiations between Iraq and the IMF regarding determining the exchange rate of the dollar.  LINK

Samson:  The Prospects Of Establishing A Sovereign Wealth Fund In Iraq

7th December, 2020

Throughout history, financial crises have been met with innovative reform plans that help develop the resilience of a country's economic system, except when it comes to Iraq.

All major oil producing countries have developed sovereign wealth funds to help mitigate the effects of potential price drops on their economies, but Iraq has yet to do so.

This has not only resulted in temporary budgetary issues for Iraq, but has also allowed serious economic challenges to become entrenched in both the political and social structures of the country.

A first glance at the current economic crisis would suggest the need for a sovereign wealth fund (SWF) to overcome the impact of oil price drops.

However, Iraq's economic challenges stem from legacy issues. Therefore, can a SWF help alleviate these historical challenges and bring about reform?

In effect, can a tool for financial diversification become a means for political and socio-economic reform? 

17 page report .... Click here to read the full report by Mohammed Hussein Baraka.

LINK

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Clare:  Proclamation on National Pearl Harbor Remembrance Day, 2020

Issued on: December 4, 2020

On the morning of December 7, 1941, Imperial Japanese forces ambushed the Naval Station Pearl Harbor on the Hawaiian island of Oahu. Tragically, 2,403 Americans perished during the attack, including 68 civilians. On this National Pearl Harbor Remembrance Day, we solemnly honor and uphold the memory of the patriots who lost their lives that day — “a date which will live in infamy” — and we reflect on the courage of all those who served our Nation with honor in the Second World War.

Seventy nine years ago, Imperial Japan launched an unprovoked and devastating attack on our Nation. As torpedo bombers unleashed their deadly cargo on our ships and attack aircraft rained bombs from above, brave members of the United States Navy, Marines, Army, and Army Air Forces mounted a heroic defense, manning their battle stations and returning fire through the smoke and chaos. The profound bravery in the American resistance surprised Japanese aircrews and inspired selfless sacrifice among our service members. In one instance, Machinist’s Mate First Class Robert R. Scott, among 15 Sailors awarded the Medal of Honor for acts of valor on that day, refused to leave his flooding battle station within the depths of the USS CALIFORNIA, declaring to the world: “This is my station and I will stay and give them air as long as the guns are going.”

Forever enshrined in our history, the attack on Pearl Harbor shocked all Americans and galvanized our Nation to fight and defeat the Axis powers of Japan, Germany, and Italy. As Americans, we promise never to forget our fallen compatriots who fought so valiantly during World War II. As a testament to their memory, more than a million people visit the site of the USS ARIZONA Memorial each year to pay their respects to the Sailors entombed within its wreckage and to all who perished that day. Despite facing tremendous adversity, the Pacific Fleet, whose homeport remains at Pearl Harbor to this day, is stronger than ever before, upholding the legacy of all those who gave their lives nearly 80 years ago.

On this National Pearl Harbor Remembrance Day, we recall the phrase “Remember Pearl Harbor,” which stirred the fighting spirit within the hearts of the more than 16 million Americans who courageously served in World War II. Over 400,000 gave their lives in the global conflict that began, for our Nation, on that fateful Sunday morning. Today, we memorialize all those lost on December 7, 1941, declare once again that our Nation will never forget these valiant heroes, and resolve as firmly as ever that their memory and spirit will survive for as long as our Nation endures.

The Congress, by Public Law 103-308, as amended, has designated December 7 of each year as “National Pearl Harbor Remembrance Day.”

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, do hereby proclaim December 7, 2020, as National Pearl Harbor Remembrance Day. I encourage all Americans to observe this solemn day of remembrance and to honor our military, past and present, with appropriate ceremonies and activities. I urge all Federal agencies and interested organizations, groups, and individuals to fly the flag of the United States at half-staff in honor of those American patriots who died as a result of their service at Pearl Harbor.

IN WITNESS WHEREOF, I have hereunto set my hand this fourth day of December, in the year of our Lord two thousand twenty, and of the Independence of the United States of America the two hundred and forty-fifth.

Frank, Delta and KTFA Members "The IMF Says to Update the Exchange Rate Before the Fiscal Year End" 12-6-2020

KTFA:

DELTA:  FINAL ARTICLE #456 

the International Monetary Fund to update the exchange rate of the Iraqi dinar before the end of the fiscal year,"

here we have it boom
NEW EXCHANGE RATE COMING OUT BEFORE END OF THIS YEAR... DELTA

Frank26:  AMEN.. AMEN.. AMEN......FRANK26

DELTA:  FROM SOCIAL MEDIA .....MORE CONFIRMATION ....

"It takes a month to 45 days to send the budget to the Parliament," said Ahmed Al-Saffar, the rapporteur of the parliamentary finance committee, adding in a televised statement that "the cabinet has postponed discussing the budget because of the high oil prices, in addition to the issue of the exchange rate of the dollar against the Iraqi dinar and the existence of negotiations of the Ministry of Finance with the International Monetary Fund."    DELTA

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Don961:  Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!"

2020-12-06  Yes Iraq - Baghdad

 The Parliamentary Finance Committee informed the Presidency of the House of Representatives, today, Sunday, that it will hold continuous meetings as soon as the General Budget Law arrives in Parliament for discussion and approval as soon as possible. It is likely that the 2021 budget will be approved at the end of this December.

"The government has postponed sending the budget to the House of Representatives so far due to the high oil prices in the global market, which requires reformulating the numbers in the budget sections to reduce the financial deficit ceiling and increase revenues," the committee's reporter, Ahmed Al-Saffar, said in televised statements.

He explained that "the cabinet will meet next Tuesday and may approve the budget then or hold a special session to discuss and approve the budget next Wednesday, which means that the budget will reach the Presidency of Parliament early next week."

He added, "The draft budget is still up to the General Secretariat of the Council of Ministers to audit it in coordination with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year," indicating that, "according to government estimates that we have informed about the price of a barrel of oil." In the general budget it will be between 42 - 43 dollars.

The official spokesman for the Council of Ministers, Minister of Culture, Hassan Nazim, announced last week that the Council of Ministers decided to postpone its session devoted to discussing the draft Federal Budget Law 2021, until yesterday, Saturday, as it has not yet been held.

Expectations of the next deficit?

And on that, today, Sunday, a Foundation for Studies, the Iraqi government’s monthly expenditures exceeded the 6 trillion dinars barrier for the month of October, surpassing the general average for the year of 5.7 trillion Iraqi dinars.

The Future Iraq Foundation for Economic Studies and Consultations said in a statement that operating expenses for salaries rose to reach 3.45 trillion dinars, surpassing the general average for salaries of 3.34, an increase of 3.45%.

The statement pointed out that the expenses of social care increased by 19% compared with the annual general rate to reach 1.5 trillion dinars, indicating that "the total expenditures of the Iraqi government have increased by 5.85% from the annual rate to reach 6.12 trillion dinars," noting that "the general rate was 5.7 trillion dinars.

The statement added that “at the level of imports, imports achieved an increase of 8% compared to the general rate of imports, and despite the decrease in oil revenues by 10% from the general average, a significant increase of 175% in non-oil revenues, as non-oil revenues amounted to 1.186 trillion dinars. It is higher than the general average of 431 billion dinars, and thus the total revenues for the month of October (last) will be 4.652 trillion dinars.

He pointed out that "despite the increase in revenues, the government recorded a real deficit of 1.5 trillion dinars, and thus the total cumulative deficit of the Iraqi state for the year 2020 has reached 15 trillion dinars."

The institution expected; That "the deficit until the end of the year exceeds more than 29 trillion dinars as a result of the need for the government to pay debts dues at the end of the year in addition to the payments of oil licensing companies, which are expected to be worth more than 13 trillion dinars," according to the statement.   LINK

JJimmyJJ:  Wait... what did I just read?!    to audit it in coordination with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year,"

Ross:  Interesting how they seem to be telling the whole world we are going to increase our rate. I always assumed it would be Top Secret until the moment of Boom here it is. Nothing normal about Iraq. Seems the cat is out of the bag. Will be nice to hear our FF's(fireflies)  take on all this. IMOO makes the middle of the month around the 15th more exciting.

MilitiaMan:  I know right... EXPECTED... They just told the world openly that they are to update the exchange rate.. The shot that was heard around the World!! or WHAT!! lol ~ MM

I wonder if the brokers around the world heard it yet? lol ~ MM

Don961:  Two reasons blocking the approval of the 2021 budget, a talk about changing the exchange rate, and concerns about the salaries '' deadlock ''

1,739 Policy 12/05/2020 21:55
Baghdad today - Baghdad

Parliament's financial reporter, Representative Ahmed Al-Saffar, revealed new details regarding a `` new crisis '' that the Iraqi economy is going through, and that concerns the political and technical consensus regarding the budget for next year.

Al-Saffar said, in a televised interview, followed by (Baghdad Today), that "one of the reasons for postponing approval of the budget for 2021 is the changes witnessed by oil prices during these days, and this justifies the delay in approving the draft budget."

He continued, "We believe that a budget of 70 trillion dinars will be sufficient for Iraq," noting that "budgets that exceeded 100 trillion have not been spent until now."

Away from what the parliament is witnessing regarding the upcoming budget, Al-Saffar explained that "there are negotiations between the Ministry of Finance and the International Monetary Fund regarding changing the exchange rate of the dollar," and this matter.

Regarding the Baghdad-Erbil agreement, he said, "Regarding the recent agreement between Baghdad and Erbil, a delegation from the region will visit Baghdad to discuss the budget handling mechanism," adding, "We believe that 250,000 barrels per day will be delivered to Baghdad, as well as 50 imports from the ports."

He stressed the Kurdistan Regional Government's readiness to "hand over all its imports in exchange for Baghdad to spend money for oil-producing companies."

On the other hand, a member of Al-Iqtisadiah, Mahmoud Al-Zajrawi, expressed his fear of a third borrowing scenario by the government.

Al-Zagrawi told (Baghdad Today), "The postponement of the cabinet session on the file to decide the fate of the 2021 budget may come due to a thorough reading of the financial situation, scrutinizing its items and looking into developing possible solutions."

Al-Zagrawi added, "If the postponement is repeated again, this will be the beginning of doubts that it is a government attempt to impose borrowing in the 2021 budget law," and continued, "This is an option that we will reject and will push us to demand its dismissal because the implications of borrowing are very bad for the Iraqi economy."

He expressed his hope that "the government will complete the budget file and expedite sending it to the House of Representatives for study and approval before the deadline for paying salaries next January to avoid major problems."

Al-Zajraoui indicated that "if the government really has determination on the third borrowing file, we will consider the impact in settling the budget as a pressure card on the street through the gate of delaying the payment of salaries in order to approve it," noting that "what we are presenting now is just doubts, hoping that the budget will be taken Its course is in the discount without the borrowing file. "

An informed political source revealed the reason for the postponement of the cabinet session to be held today, Saturday, to discuss the draft general budget law for the fiscal year 2021.

The source stated in an interview with (Baghdad Today), that “the cabinet session was postponed until next Tuesday, due to lack of agreement on a price My guess is for a barrel of oil in the bill. "

He added, "Among other reasons, the deficit rate was not specified in the draft budget, and there was no agreement on the value of the loans in it."

On Monday (November 30, 2020), Prime Minister Mustafa Al-Kazemi directed to send the 2021 budget to the General Secretariat of the Council of Ministers immediately for the purpose of checking it.

The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in a press statement, "Al-Kazemi directed the Ministries of Finance and Planning to send the 2021 budget immediately to the Cabinet Secretariat."

He added, "The prime minister directed the ministries of finance and planning to send the budget for the purpose of scrutiny by the legal department in order to allocate an extraordinary session for discussion and refer it to the House of Representatives for approval as soon as possible."

Majeed pointed out that "the government and parliament are unanimous in the need to expedite the approval of the 2021 budget.

Cabinet spokesman Hassan Nazim announced that a special session would be held for the purpose of discussing the draft federal budget law for the next year.   link

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Don961:  l-Kazemi's advisor identifies 4 factors to get out of the financial crisis

294 Economie 12/06/2020 18:27 Baghdad Today - Follow-up

The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Saleh, confirmed today, Sunday, that financial planning will not determine the future of the coming months.

The official news agency quoted Saleh as saying that "financial planning is what determines the future of the coming months, starting from the first of January," indicating that "everyone is waiting for financial planning to know how to determine expenditures and revenues and address the deficit, if any." He added, "Exiting the financial crisis depends on management, compression of expenditures, maximizing resources and setting priorities in the correct manner, so that there are things that are subject to pressure and installments." 

Regarding the possibility of Iraq borrowing again to fill the deficit, Saleh stated that "borrowing depends on the budget law and is determined by law in the House of Representatives," pointing out that "there are limits to the borrowing process," noting that "the danger lies in relying on one resource, oil, and setting its prices in the outside".

The Parliament's financial reporter, MP Ahmed Al-Saffar, revealed new details of a "new crisis" in the Iraqi economy, which concerns the political and technical consensus regarding the budget for next year.

Al-Saffar said, in a televised interview, followed by (Baghdad Today), that "one of the reasons for postponing approval of the budget for 2021 is the changes witnessed by oil prices during these days, and this justifies the delay in approving the draft budget."

He continued, "We believe that a budget of 70 trillion dinars will be sufficient for Iraq," noting that "budgets that exceeded 100 trillion have not been spent until now."

Away from what the parliament is witnessing regarding the upcoming budget, Al-Saffar explained that "there are negotiations between the Ministry of Finance and the International Monetary Fund regarding changing the exchange rate of the dollar," and this matter. On Monday (November 30, 2020), Prime Minister Mustafa Al-Kazemi directed to send the 2021 budget to the General Secretariat of the Council of Ministers immediately for the purpose of checking it.

The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in a press statement, "Al-Kazemi directed the Ministries of Finance and Planning to send the 2021 budget immediately to the Cabinet Secretariat."

He added, "The prime minister directed the ministries of finance and planning to send the budget for the purpose of scrutiny by the legal department in order to allocate an extraordinary session for discussion and refer it to the House of Representatives for approval as soon as possible."

Majeed pointed out that "the government and parliament are unanimous in the need to expedite the approval of the 2021 budget.  LINK

Don961:  A "preliminary agreement" between Baghdad and Erbil ... oil for salaries

Sunday 06 December 2020  Baghdad: Hoda Al-Azzawi 

The central government reached with the Kurdistan Regional Government a "preliminary agreement", which includes sending the salaries of Kurdistan employees, in exchange for handing over 250 thousand barrels to the federal government with 50 percent of the border crossing revenues.

This agreement is somewhat similar to the previous agreement in the government of Adel Abdul Mahdi, with the addition of some paragraphs, as it will be included in the 2021 budget, which may accelerate its approval in Parliament.

The differences between Baghdad and Erbil escalated against the backdrop of the parliament’s approval of the “Financing the Financial Deficit” law, which enabled the Iraqi government to borrow internally to pay the salaries of employees.

The law stipulated that the Kurdistan Regional Government of Iraq pay its financial dues to the federal government, before proceeding with the payment of employees' salaries.

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, said in a statement to Al-Sabah: "The federal government reached with the regional government the same old agreement, which was supposed to be included in the 2020 budget that was not approved." He added, "The agreement included delivering 250 thousand barrels per day to Baghdad, in addition to 50 percent of the ports' revenues, in return for the Kurdistan region's share of the federal budget, which amounts to 12.67 percent, at the forefront of which is salary insurance." He pointed out that "this initial agreement will be included in the 2021 draft budget."

For his part, a statement by the Presidency of the Kurdistan government said, "The regional government president, Masrour Barzani, met with the regional government delegation that negotiated with the federal government, and the meeting discussed the latest developments regarding the course of talks with the federal government regarding salaries and financial rights for the region."   LINK

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Samson:  Economic Outlook: A deficit in the Iraqi budget of more than 29 trillion dinars by the end of 2020

6th December, 2020

On Sunday, an institution for studies monitored that the monthly expenditures of the Iraqi government exceeded the 6 trillion dinars barrier for the month of October, exceeding the general average for the year of 5.7 trillion Iraqi dinars.

The Future Iraq Foundation for Economic Studies and Consultations stated, in a statement received by Shafaq News; Operating expenses related to salaries rose to reach 3.45 trillion dinars, surpassing the general salary average of 3.34, an increase of 3.45%.

The statement pointed out that the expenditures for social care increased by 19% compared to the annual general rate, to reach 1.5 trillion dinars. And he indicated that "the total expenditures of the Iraqi government have increased by 5.85% from the annual rate to reach 6.12 trillion dinars," noting that "the general rate was 5.7 trillion dinars."

The statement added that "at the level of imports, imports achieved an increase of 8% compared to the general rate of imports, and despite the decrease in oil revenues by 10% from the general average, a significant increase of 175% in non-oil revenues, as non-oil revenues reached a value of 1.186 trillion dinars. It is higher than the general average of 431 billion dinars, so that the total revenue for the month of October (last) is 4.652 trillion dinars."

He pointed out that "despite the increase in revenues, the government recorded a real deficit of 1.5 trillion dinars, and thus the total cumulative deficit of the Iraqi state for the year 2020 has reached 15 trillion dinars."

The institution expected; That "the deficit until the end of the year exceeds more than 29 trillion dinars as a result of the need for the government to pay debts dues at the end of the year in addition to paying the amounts of oil licensing companies, which are expected to be worth more than 13 trillion dinars," according to the statement.   LINK

Frank, Delta and KTFA Members Tuesday 12-1-2020

KTFA:

Tidbits from Frank26 Monday Night CC: 11-30-2020

CC 11-30-20     https://fccdl.in/X8LZYAHTer

Frank26:  1. The floor managers of the Iraqi banks have been provided the information on the rate change (tellers should be next and it shouldn't be very long).

2. Iraq is doing currency swaps (part of the deal Kazemi made with Trump to raise the rate)

3. Iraqi satellite banks have been notified of the coming rate change.

4. ATMs loaded with new small category notes will be turned on soon.

DELTA: FROM SOCIAL MEDIA....

"The deletion of three zeros or the gradual deletion of zeros makes the value of the Iraqi dinar appear to be higher value and the monetary balance will be formed rapidly in the market economy," said economist Raad Twigg, adding that "the monetary bloc could become approximately 15 to 25 trillion dinars, and the value of the new Iraqi dinar is close to the value of the dollar, which facilitates the calculation process and allows small and new monetary groups to appear in the monetary market."

MilitiaMan:  The whole time we have been watching, they have too. Social media knows the leakage.. They should know by now!! Imo

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Don961:  An economist calls for deleting the three zeros from the dinar to strengthen the local currency

Baghdad Post
Monday, November 30, 2020 01:19 PM

Economic expert Raad Twig called , the central bank to delete the three zeros from the dinar to strengthen the local currency.

Twig said: It is known that the monetary mass in circulation is about 60 trillion dinars, which is not available at the Central Bank of Iraq, the banks and the public, and it is a large monetary block compared to the economic transactions of the Iraqi economy and that a large proportion of this block suffers from compactness and therefore this does not help the Central Bank of Iraq in drawing a policy Effective cash calling on  the central bank to delete three zeros or gradual deletion of zeros to make the value of the dinar appear at a higher value and that the processes of evaluation and monetary balance will be formed quickly in the market economy.

" He added: The monetary mass can become approximately 15 to 25 trillion dinars and the value of the new dinar converges to the value of the dollar, which facilitates the process of calculation and allows small and new denominations of cash to appear in the money market.  LINK

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Samson:  In November, tax revenues provide 620 billion dinars for Iraq's treasury

1st December 2020

The Iraqi Ministry of Finance announced on Monday the achievement of financial revenues of about 620 billion dinars from taxes in the month of November, an increase of 400 billion compared to the revenues of the same month in 2019.

The ministry said in a statement received by Shafaq News, that "the General Tax Authority affiliated with the Ministry of Finance financial revenues amounted to about 620 billion dinars for the month of November 2020."

She added, "The General Tax Authority has worked to provide all the necessary support and facilities for the purpose of obtaining the amounts from the taxpayers, which contributed to the steps and procedures followed from the high rates of revenues achieved by the treasury by the authority."

The treasury indicated that "the authority has achieved amounts that exceeded 230 billion dinars within the payments system, which will be included in the revenues of next December." 

It said that "tax revenues achieved an increase of 400 billion dinars compared to the month of November 2019, which recorded revenues of 206 billion."  LINK

Samson:  Iraq's financial revenues exceed $ 3 billion from the sale of oil within a month

1st December, 2020

The Ministry of Oil announced, on Tuesday, the total exports and revenues achieved for the month of last November.

According to preliminary statistics issued by the national oil marketing company "SOMO", which amounted to more than 81 million barrels and revenues of more than 3 billion dollars.

The ministry said in a statement received by Shafaq News that "the amount of exports, according to the preliminary statistics, of crude oil from the SOMO Oil Marketing Company amounted to (81) million (262) thousand and (376) barrels, with revenues of (3) billion and (394) million And (988) thousand dollars."

And she added that "the total quantities of exported crude oil for the month of last November from the oil fields in central and southern Iraq amounted to approximately 78 million and 190 thousand and 444 barrels. As for the Kirkuk fields through the port of Ceyhan, the exported quantities reached two million and (819) thousand and (169) barrels, and the quantities exported to Jordan amounted to (252) thousand and (763) barrels.

It indicated that "the total daily rate of exports amounted to two million and (709) thousand barrels," indicating that the average price per barrel reached (41,778) dollars.

It is noteworthy that the Ministry of Oil exports crude oil from the southern fields through the ports of Basra, while the oil is exported from the northern fields through the Turkish port of Ceyhan.  LINK

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Samson:  Warning Against "Floating Currency" To Raise The Price Of The Dollar Against The Iraqi Dinar

1st December 2020

The economist Rasim al-Akidi said that the floating of the dollar, or what is known as the liberalization of the exchange rate, takes place through two methods, the first is pure or free, and the second is the controlled or controlled method, and in both cases the price of the dollar will rise against the Iraqi dinar and will lead to the withdrawal of a large amount of the monetary mass in Markets.

Al-Aqidi added, that the withdrawal of a large cash block corresponds to 4 drawbacks at the same time that will arise and the affected will be large segments, including the increase in prices in the markets in addition to the factories’ reluctance to produce because the value of profits will decrease in front of costs in addition to the absorption of per capita income and the increase in rental prices, so the interest will be limited by analogy. Other damages.

According to Al-Aqidi, Iraq needs an economic rescue plan that starts from maximizing non-oil revenues, which are many, and keeping the influential parties away from them because a large part of the financial resources does not go to the state treasury, and this is part of the causes of the current financial crisis in the country.

Economists’ opinions differed on the “floating of the dinar” in front of the dollar exchange to face the deficit crisis in the financial budget. One party believes that the procedure will serve the Iraqi economy in the medium term by activating the industrial and agricultural sectors, but another party believes that it will eliminate the poor and middle classes.

The Central Bank of Iraq rejected the idea of ​​"floating the dinar" during the next stage to increase government revenues and be able to pay employees' salaries in the coming days, citing its fear of increasing prices and harming the vulnerable classes.

The estimated budget for 2020 suffers from a large deficit of 50 trillion dinars. Observers expected the deficit to rise with the oil market losing about 50% of its prices.  LINK

Samson:  Parliamentary calls for achieving sovereignty, removing American forces, and ensuring the dignity of the Iraqi citizen

08:32 - 01/12/2020

Called for deputies from various political blocs, to ensure the achievement of the sovereignty of Iraq and the removal of US forces and preserving the dignity of the Iraqi citizen at home and abroad.

The deputy of the Badr Parliamentary Bloc, Karim Al-Muhammadawi, told "the information", that "the weakness of the government is behind the underestimation of Iraq's sovereignty and preventing its citizens from entering the UAE," stressing the need for a government decision to be taken regarding the Emirati behavior and transgressing international norms.

For his part, MP for the Alliance of the Walkers Sabah Al-Saadi stressed in a statement to "the information", the need to achieve sovereignty by not colluding with the American presence, and to activate parliamentary questions in this regard.

To that, a member of the Parliamentary Foreign Relations Committee, Amer Al-Fayez, confirmed to "the information", that “Iraq no longer needs American forces. Especially in the field of combating terrorism, as this matter should be resolved, especially as there is ambiguity in the actual numbers of US forces present in Iraq.   LINK

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Samson:  Parliamentary energy in the process of completing the law of the national oil company

1st December, 2020

Today, Tuesday, the Parliamentary Oil and Energy Committee confirmed that it is about to complete the National Oil Company Law, indicating that the law will pave the way for the initiation of the oil and gas law.

A member of the committee, Sadiq Al-Sulaiti, told the Iraqi News Agency (INA): "The committee is about to complete the amendment of the National Oil Company Law, and this law took part of the oil and gas law." He added that "after the completion of the national oil law, it is possible to initiate the oil and gas law."

It is noteworthy that the House of Representatives has completed the first reading of the first amendment bill to the Iraqi National Oil Company Law No. 4 of 2018.  L

KTFA Monday Night CC and Iraq News 11-30-2020

KTFA:

KTFA MONDAY NIGHT CONFERENCE CALL..

 PLAYBACK IS: 605.313.5163 PIN: 156996#

Frank26:  11-30-20....Everyone Knows

This video is in Frank26 and hisTeam’s opinions….

Special Guest report from  “Blustar” and reports from the team MilitiaMan, Delta and Petra.

Blustar was on NewsMax today…Check out NewsMax on 11-30-2020 at HOWIE CARR 11-30-20 AROUND 4:26

https://www.youtube.com/watch?v=Yu6_u-iOJ58

Samson:  Representative Finance: The proposal for a "white paper" to replace the currency requires a lot of money

30th November, 2020

The Parliamentary Finance Committee confirmed, on Monday, that the "white paper" submitted by the Prime Minister, Mustafa Al-Kazemi, includes a proposal to replace the currency, noting that this proposal requires a lot of funds to implement it.

It is noteworthy that the Iraqi Prime Minister, Mustafa Al-Kazemi, confirmed, last June, that the government had prepared a "white paper" for the upcoming reforms. According to the document, the proposed period for implementation is 3 years from 2021 to 2023.

Committee reporter Ahmed Al-Saffar told Shafaq News: "The reform paper to address the financial crisis presented by the House of Representatives includes one of its points reviewing the exchange rate while studying the possibility of proceeding with steps to delete zeros, with the amendment of the mechanism for selling the currency and preserving the hard currency and the exchange rate of the dollar against the Iraqi dinar."

He added that "the application of this proposal requires better economic possibility and conditions than the current situation with the availability of financial liquidity for the application," noting that "currency exchange requires a lot of money to print currency abroad."  LINK

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Samson:  Al-Kazemi directs to send the 2021 budget immediately to the Cabinet Secretariat

30th November, 2020

The General Secretariat of the Council of Ministers announced, on Monday, that Prime Minister Mustafa Al-Kazemi had directed that the budget be sent immediately to the General Secretariat for the purpose of checking it

"The Prime Minister directed the Ministries of Finance and Planning to send the budget immediately to the General Secretariat of the Council of Ministers for the purpose of checking it by the legal department in order for an extraordinary session to be allocated for discussion and referred to Parliament for approval as soon as possible

Majeed added, "The government and parliament are unanimous on the need to expedite the approval of the 2021 budget  LINK

Samson:  Al-Kazemi issues a directive regarding the budget and parliament that monitors change in salary spending

On Monday, Prime Minister Mustafa Al-Kazemi directed to send the Budget Law for 2021 to the General Secretariat of the Council of Ministers for scrutiny.

The spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, said in a statement received by Shafaq News, that the directive was issued by Prime Minister Mustafa Al-Kazimi, directing the ministries of Finance and Planning to send the budget law for 2021 to the General Secretariat of the Council of Ministers for the purpose of checking it. He added that after that, an extraordinary session will be allocated for discussion and referred to the House of Representatives for approval as soon as possible.

For its part, the Parliamentary Finance Committee revealed that government spending on employee salaries in the fiscal budget for 2021 will be different from the current year’s budget, and confirmed that it is awaiting approval of the budget law in the Council of Ministers and its referral to the House of Representatives.

Committee member Jamal Cougar told Shafaq News, "The volume of government spending for salaries in the general budget for next year is 51 trillion dinars, but it will be different in the general budget for the current year 2020.  And he stated that "in 2020, appointments were made in the number of state institutions, in addition to revealing the presence of aliens, double-wages and exceeding the salaries of retirees and social care, all of this will change the size of the general budget for the next year."

Cougar pointed out that "Parliament is awaiting the approval of the draft general budget bill for 2021 in the Council of Ministers, after which this law will be sent to Parliament," indicating that "if the law reaches Parliament, it will be discussed and the total amount and financial deficit in the budget will be known."

And the Iraqi parliament had approved on 11/12/2020 the internal and external borrowing law worth 12 trillion dinars (10 billion dollars), in an effort to end the crisis of delayed payment of state employees' salaries that has been going on for nearly two months as a result of the failure to approve the budget law, and the financial crisis that interacted after the retreat. Oil prices affected by the Corona pandemic.   LINK

DeepWoodz:  Imo....oh boy!!!!!!

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Samson:  Trump advisor heads to Saudi Arabia and Qatar

11/30/2020 08:56:17

 Reuters reported that Jared Kushner, son-in-law and advisor to US President Donald Trump, will head a delegation to Saudi Arabia and Qatar for talks.

The agency quoted a senior US administration official as saying that "Kushner will meet within the next few days, the Saudi Crown Prince Mohammed bin Salman in the Saudi city of Neom, and the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, in Doha."

"Kushner will be accompanied by US envoy to the Middle East Avi Berkowitz, Brian Hook, and head of the American International Development Finance Corporation, Adam Buehler, on the visit," the official.  LINK